Planet 13 Holdings (PLTH) AI Stock Analysis

• Market Cap: C$109.00M
• Dividend Yield: N/A
• Average Volume (3M): 157.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.45
• Revenue Growth: 2.19%
• EPS Growth: -91.41%
• Country: CA
• Employees: 1,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.20
• Shares Outstanding: 325,363,800
• 10 Day Avg. Volume: 147,309
• 30 Day Avg. Volume: 157,633
• PEG Ratio: 0.05
• Price to Book (P/B): 0.99
• Price to Sales (P/S): 0.96
• P/FCF Ratio: -16.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$0.34
• Price Target Upside: 1.36% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: C$0.29 ▼(-15.88% Downside)

Planet 13 Holdings is currently facing significant financial challenges, with declining revenues and profitability issues being the most critical factors. While there are some positive technical indicators and potential for strategic recovery, the overall financial instability and negative valuation metrics weigh heavily on the stock's attractiveness.

Positive Factors

Florida Operations Improvement

Improved sales in Florida, driven by better product quality, indicate successful strategic adjustments and potential for sustained growth.

Operational Efficiency

Cost reductions in sales, marketing, and G&A reflect improved operational efficiency, enhancing long-term profitability potential.

Completion of BHO Lab

The new BHO lab will expand product offerings, potentially increasing revenue and market competitiveness in Florida.

Negative Factors

Revenue Decline

Declining revenues, particularly in core markets, highlight challenges in maintaining growth and market share, impacting long-term stability.

Adjusted EBITDA Loss

Ongoing EBITDA losses indicate financial challenges, limiting the company's ability to reinvest and grow sustainably.

Gross Margin Impact

One-time charges affecting gross margin reduce profitability, highlighting inventory management issues that could persist.

Planet 13 Holdings Business Overview & Revenue Model

Company Description

Planet 13 Holdings (PLTH) is a vertically integrated cannabis company based in the United States, primarily focused on the cultivation, production, and retail of cannabis products. The company operates a large-scale cannabis cultivation facility and flagship dispensary in Las Vegas, Nevada, which is known for its immersive customer experience and innovative product offerings. Planet 13 is dedicated to providing high-quality cannabis products, including flower, edibles, concentrates, and infused beverages, while also emphasizing brand development and customer engagement in the rapidly evolving cannabis market.

How the Company Makes Money

Planet 13 generates revenue primarily through retail sales at its dispensaries, where it sells a wide range of cannabis products directly to consumers. The company benefits from high foot traffic in Las Vegas, attracting both local residents and tourists. In addition to retail sales, Planet 13 earns revenue from wholesale distribution of its products to other dispensaries, leveraging its cultivation and production capabilities. The company has established strategic partnerships that enhance its brand visibility and market reach, contributing to its overall earnings. Furthermore, the development of new products and services, along with potential expansion into other states, positions Planet 13 to tap into the growing cannabis market, driving revenue growth over time.

Planet 13 Holdings Financial Statement Overview

Summary

Planet 13 Holdings is facing financial challenges with declining revenues and profitability. The income statement shows negative growth and margins, while the balance sheet indicates manageable leverage but ongoing losses. Cash flow improvements are noted, but overall financial health remains a concern.

Income Statement

Planet 13 Holdings has experienced declining revenue growth, with a negative growth rate of -3.48% in the TTM period. The company is facing profitability challenges, as indicated by negative net profit and EBIT margins. The gross profit margin remains relatively stable at 47.41%, but the overall income statement reflects financial strain.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.51, indicating manageable leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio is not explicitly calculated, but the company's equity position suggests a stable asset base despite financial challenges.

Cash Flow

The cash flow statement reveals a significant improvement in free cash flow growth at 44.76%, but operating cash flow remains negative. The operating cash flow to net income ratio is low, indicating cash flow challenges. The free cash flow to net income ratio is highly negative, reflecting cash flow difficulties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	108.44M	116.41M	98.51M	104.57M	119.49M	70.49M
Gross Profit	41.72M	56.11M	44.82M	47.97M	66.01M	35.37M
EBITDA	-52.72M	-825.39K	-4.11M	-14.68M	-3.62M	3.86M
Net Income	-84.92M	-47.80M	-73.61M	-48.98M	-19.46M	-7.94M
Balance Sheet
Total Assets	158.50M	206.73M	151.75M	233.63M	216.81M	150.00M
Cash, Cash Equivalents and Short-Term Investments	17.18M	23.38M	11.83M	52.36M	61.59M	79.00M
Total Debt	58.84M	56.95M	26.83M	27.20M	24.44M	23.21M
Total Liabilities	103.91M	94.02M	44.11M	42.74M	43.10M	29.30M
Stockholders Equity	54.58M	112.71M	107.64M	190.89M	173.71M	120.70M
Cash Flow
Free Cash Flow	-3.99M	-6.83M	-21.31M	-12.90M	-82.14M	-8.95M
Operating Cash Flow	-1.43M	5.21M	-12.05M	3.80M	-379.88K	-914.97K
Investing Cash Flow	-2.55M	-3.79M	-9.19M	-14.18M	-81.76M	-8.03M
Financing Cash Flow	-45.83K	6.73M	-267.53K	1.14M	64.54M	75.00M

Planet 13 Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PLTH, the sentiment is Positive. The current price of 0.34 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.28, and above the 200-day MA of 0.32, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 54.33 is Neutral, neither overbought nor oversold. The STOCH value of 49.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PLTH.

Planet 13 Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LOVE	73 Outperform	$167.02M	12.24	13.39%	―	30.64%	101.12%
XLY	64 Neutral	C$208.71M	4.52	31.46%	―	27.38%	―
DB	64 Neutral	C$63.46M	4.38	21.77%	―	15.11%	―
OGI	54 Neutral	C$372.61M	-13.60	-7.93%	―	62.15%	60.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JUSH	47 Neutral	C$161.29M	-1.75	―	―	3.17%	-24.07%
PLTH	44 Neutral	C$109.00M	-0.92	-83.55%	―	2.19%	-91.41%

Planet 13 Holdings Corporate Events

Planet 13 Holdings Reports Q3 2025 Financial Results Amid Strategic Restructuring

Planet 13 Holdings reported a challenging Q3 2025 with a revenue of $23.3 million and a net loss of $44.0 million, which included a significant non-cash impairment loss. The company has taken strategic steps to address operational challenges by exiting the California market to focus on Nevada and Florida, aiming for sustainable operations and improved margins. Despite the financial setbacks, Planet 13 is optimistic about future growth, with plans to enhance its operations and product offerings in its key markets.