Planet 13 Holdings (PLTH) AI Stock Analysis

• Market Cap: $89.48M
• Dividend Yield: N/A
• Average Volume (3M): 157.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.37
• 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: 1.60
• Enterprise Value/Revenue: 1.32
• Enterprise Value/Gross Profit: 3.43
• Enterprise Value/Ebitda: -2.71
• 1Y Price Target: $0.35
• Price Target Upside: 34.29% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: C$0.27 ▲(1.92% Upside)

Planet 13 Holdings is currently facing significant financial challenges, with declining revenues and persistent losses being the most impactful factors. The technical analysis suggests a bearish trend, and valuation metrics are unfavorable due to negative earnings. While the earnings call indicates some potential for recovery, particularly in Florida and Illinois, these improvements are not yet sufficient to offset the overall negative outlook.

Positive Factors

Operational Efficiency

The reduction in operating expenses indicates improved cost management, which can enhance profitability and cash flow over the long term.

Expansion in Florida

Growth in Florida operations suggests successful market penetration and potential for sustained revenue growth in a key market.

BHO Lab Completion

The new BHO lab will enhance product offerings, driving revenue growth and competitive positioning in the cannabis market.

Negative Factors

Revenue Decline

The decline in revenue, particularly in core markets, indicates challenges in maintaining sales momentum, affecting long-term growth prospects.

Adjusted EBITDA Loss

Ongoing EBITDA losses reflect profitability challenges, which could hinder reinvestment and strategic initiatives necessary for growth.

Tourism Decline in Nevada

Reduced tourist traffic in Nevada impacts sales at the Las Vegas SuperStore, a key revenue driver, affecting long-term revenue stability.

Planet 13 Holdings Business Overview & Revenue Model

Company Description

Planet 13 Holdings Inc., an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. The company also operates licensed cannabis dispensaries; non-cannabis retail merchandise store and event space; and owns and operates Trece Eatery + Spirits, coffee shop and pizzeria. In addition, it provides consultation, education, and convenience services. The company owns and manufactures chocolates, gummies, sparkling beverages, vapes and concentrates, and flowers under the TRENDI, Leaf & Vine, Dreamland, and HaHa, and Medizin brands. Planet 13 Holdings Inc. is headquartered in Las Vegas, Nevada.

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: Neutral
• Last Price: 0.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• 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 Neutral. The current price of 0.26 is above the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.29, and below the 200-day MA of 0.33, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.97 is Neutral, neither overbought nor oversold. The STOCH value of 70.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	71 Outperform	$154.52M	9.86	13.39%	―	30.64%	101.12%
XLY	68 Neutral	$195.25M	4.23	31.46%	―	27.38%	―
DB	63 Neutral	$77.85M	5.19	21.77%	―	15.11%	―
OGI	59 Neutral	C$296.86M	73.67	1.86%	―	38.86%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JUSH	46 Neutral	C$167.19M	-2.05	―	―	3.17%	-24.07%
PLTH	43 Neutral	$89.48M	-1.31	-83.55%	―	2.19%	-91.41%

Planet 13 Holdings Corporate Events

Planet 13 Reports Q3 2025 Financial Results

Planet 13 Holdings, Inc. is a vertically-integrated multi-state cannabis company known for its cultivation, production, and dispensary operations, primarily in Nevada and Florida, and is recognized for operating the largest dispensary in the United States located in Las Vegas.

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.

The most recent analyst rating on (TSE:PLTH) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Planet 13 Holdings stock, see the TSE:PLTH Stock Forecast page.

Planet 13 Holdings’ Mixed Earnings Call Highlights

Planet 13 Holdings, Inc. recently held its earnings call, revealing a mixed sentiment among stakeholders. While the company celebrated growth in specific areas like SuperStore revenue and brand performance, it faced challenges with overall revenue declines, tourism drops, and strategic store closures. The company is actively working on strategies to mitigate these issues, but the outlook remains balanced between optimism and caution.

Planet 13 Holdings Reports Q2 2025 Financial Results

Planet 13 Holdings, Inc. is a vertically-integrated multi-state cannabis company known for its award-winning cultivation, production, and dispensary operations, including the nation’s largest dispensary located in Las Vegas. The company operates in several states, including California, Nevada, Illinois, and Florida, focusing on delivering high-quality cannabis experiences.