Trulieve Cannabis (TRUL) AI Stock Analysis

• Market Cap: C$1.26B
• Dividend Yield: N/A
• Average Volume (3M): 191.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.68
• Revenue Growth: 4.27%
• EPS Growth: 3.41%
• Country: CA
• Employees: 6,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.20
• Shares Outstanding: 167,931,950
• 10 Day Avg. Volume: 311,424
• 30 Day Avg. Volume: 191,307
• PEG Ratio: 0.10
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 0.83
• P/FCF Ratio: 8.46
• 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$20.90
• Price Target Upside: 96.23% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.53
• Revenue Forecast (FY): C$1.67B

• Rating: 48 Neutral
• Price Target: C$6.50 ▼(-38.97% Downside)

Trulieve Cannabis faces significant challenges with declining revenue and profitability, as well as bearish technical indicators. Despite strong cash flow management and growth initiatives highlighted in the earnings call, the company's negative P/E ratio and lack of dividend yield weigh heavily on its valuation. The overall score reflects these mixed factors, with financial performance and technical analysis being the most significant contributors.

Positive Factors

Cash Generation

Strong cash generation and reserves enhance financial flexibility, enabling strategic investments and cushioning against economic downturns.

Expansion and Growth Initiatives

Expanding retail footprint strengthens market presence and revenue potential, supporting long-term growth and competitive positioning.

Customer Engagement

Enhanced customer engagement through digital platforms can drive sales and brand loyalty, crucial for sustained revenue growth.

Negative Factors

Pricing and Consumer Pressure

Pricing pressure can erode margins and profitability, challenging the company's ability to maintain financial performance in competitive markets.

Net Loss Reported

Ongoing net losses highlight profitability challenges, potentially impacting investor confidence and long-term financial health.

Challenges in Consumer Behavior

Shifts in consumer behavior towards lower-priced products can pressure revenue and necessitate strategic adjustments to product offerings.

Trulieve Cannabis Business Overview & Revenue Model

Company Description

Trulieve Cannabis Corp. is a leading vertically integrated cannabis company based in the United States, primarily operating in the medical and recreational cannabis sectors. The company cultivates, processes, and distributes a wide range of cannabis products, including flower, edibles, tinctures, and concentrates. With a strong presence in Florida and expansion efforts in other states, Trulieve focuses on providing quality cannabis products to meet the needs of its customers and patients, while also emphasizing compliance with state regulations and community engagement.

How the Company Makes Money

Trulieve generates revenue primarily through the sale of cannabis products in its dispensaries and online platforms. The company operates a retail network of dispensaries that cater to both medical and recreational cannabis consumers. Key revenue streams include sales of flower, concentrates, edibles, and wellness products. In addition to retail sales, Trulieve benefits from its cultivation and production facilities, which enable the company to maintain control over its supply chain and product quality. Strategic partnerships with local suppliers and involvement in community initiatives also enhance its market position and brand loyalty. The company's growth is further supported by expanding its footprint into new markets and increasing its product offerings to capture a wider customer base.

Trulieve Cannabis Financial Statement Overview

Summary

Trulieve Cannabis faces challenges with declining revenue and profitability, impacting its overall financial health. While the company maintains a strong gross profit margin and improved cash flow management, negative net income and return on equity highlight areas needing attention. The balance sheet remains stable, but future growth and profitability improvements are crucial for long-term success.

Income Statement

Trulieve Cannabis has experienced declining revenue growth, with a negative growth rate of -11.4% in the TTM period. The company struggles with profitability, as evidenced by a negative net profit margin of -14.06%. However, the gross profit margin remains relatively strong at 61.29%, indicating efficient production processes. The EBIT and EBITDA margins are positive, but lower than previous years, reflecting challenges in operational efficiency.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.67, suggesting a balanced approach to leveraging. However, the return on equity is negative at -13.25%, indicating inefficiencies in generating returns for shareholders. The equity ratio stands at 41.92%, showing a stable capital structure but highlighting potential risks if profitability does not improve.

Cash Flow

Cash flow analysis reveals a significant improvement in free cash flow growth at 111.6% in the TTM period, indicating better cash management. The operating cash flow to net income ratio is strong at 1.60, suggesting effective cash generation relative to net income. However, the free cash flow to net income ratio is only 0.30, pointing to challenges in translating earnings into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.19B	1.19B	1.13B	1.24B	938.38M	521.53M
Gross Profit	726.44M	715.75M	588.63M	682.00M	566.13M	386.42M
EBITDA	274.49M	282.80M	-21.98M	239.75M	283.59M	207.87M
Net Income	-166.65M	-155.10M	-526.80M	-205.10M	18.03M	63.00M
Balance Sheet
Total Assets	2.92B	2.87B	2.73B	3.40B	3.41B	816.11M
Cash, Cash Equivalents and Short-Term Investments	392.58M	299.20M	201.37M	212.30M	230.65M	146.71M
Total Debt	823.70M	824.46M	792.57M	1.03B	859.02M	168.60M
Total Liabilities	1.71B	1.62B	1.32B	1.47B	1.26B	368.21M
Stockholders Equity	1.23B	1.26B	1.41B	1.93B	2.15B	447.90M
Cash Flow
Free Cash Flow	60.28M	116.82M	146.35M	-161.49M	-293.22M	-47.10M
Operating Cash Flow	197.84M	271.48M	201.84M	23.10M	12.90M	99.64M
Investing Cash Flow	-119.90M	-206.62M	-37.47M	-215.06M	-215.18M	-174.65M
Financing Cash Flow	-33.05M	-33.44M	-175.59M	177.80M	289.23M	129.91M

Trulieve Cannabis Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TRUL, the sentiment is Negative. The current price of 10.65 is above the 20-day moving average (MA) of 9.04, above the 50-day MA of 10.14, and above the 200-day MA of 7.47, indicating a bearish trend. The MACD of -0.92 indicates Positive momentum. The RSI at 32.75 is Neutral, neither overbought nor oversold. The STOCH value of 7.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TRUL.

Trulieve Cannabis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DHT.UN	71 Outperform	C$865.85M	160.70	-10.92%	3.58%	-0.94%	-540.90%
CRON	65 Neutral	C$1.28B	24.87	3.34%	―	22.20%	―
GTII	62 Neutral	$1.91B	31.96	2.42%	―	6.18%	-28.69%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TRUL	48 Neutral	C$1.26B	―	-9.95%	―	4.27%	3.41%
CL	45 Neutral	C$440.47M	―	-11.79%	―	-6.48%	22.63%
CURA	44 Neutral	C$2.85B	―	-27.61%	―	-3.38%	-31.35%

Trulieve Cannabis Corporate Events

Trulieve Cannabis Reports Strong Q3 2025 Results

Trulieve Cannabis Corp. is a leading vertically integrated cannabis company and multi-state operator in the U.S., known for its significant market presence in Arizona, Florida, and Pennsylvania, and its focus on providing high-quality cannabis products to enhance customer experiences.

Trulieve Cannabis Navigates Growth Amid Challenges

Trulieve Cannabis Corporation’s recent earnings call painted a mixed picture of the company’s financial health and strategic direction. While the company showcased robust financial performance and growth initiatives, challenges such as pricing compression and a reported net loss highlighted some pressures. Nonetheless, Trulieve’s efforts in cannabis reform and strategic expansion underscore its leadership in the industry.

Trulieve Cannabis Reports Q3 2025 Financial Results

Trulieve Cannabis Corp. reported its third-quarter 2025 financial results, highlighting a revenue of $288 million with a 59% gross margin. Despite a net loss of $27 million, the company achieved an adjusted EBITDA of $103 million, demonstrating operational discipline and strong cash flow. The company also expanded its product offerings and distribution, launched a new mobile app, and announced plans to redeem $368 million of senior secured notes due in 2026.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$9.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Cannabis Announces Redemption of Senior Notes

On November 4, 2025, Trulieve Cannabis Corp. announced a notice of redemption for its outstanding 8% senior secured notes due 2026, totaling US$368 million. The redemption, set for December 5, 2025, will be executed at 100% of the principal plus accrued interest, leading to the delisting of the notes from the Canadian Securities Exchange, potentially impacting the company’s financial strategy and market positioning.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Cannabis to Discuss Q3 2025 Financial Results in Upcoming Conference Call

Trulieve Cannabis Corp. announced it will hold a conference call on November 5, 2025, to discuss its third quarter financial results. The call will be led by CEO Kim Rivers and CFO Jan Reese, and is expected to provide insights into the company’s financial performance and operational strategies, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Expands THC Beverage Line with New Flavors

Trulieve Cannabis Corp. has introduced five new flavors in its Onward and Upward THC-infused beverage line, reflecting the rising demand for THC beverages. These new flavors, crafted in the USA and infused with naturally derived THC and CBD, are available online and at retail locations in Florida and Illinois, enhancing consumer choice and potentially strengthening Trulieve’s market position in the cannabis beverage sector.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Expands in Arizona with New Bisbee Dispensary

Trulieve Cannabis Corp. announced the opening of a new dispensary in Bisbee, Arizona, expanding its presence in the state and enhancing access for patients and customers in south Cochise County. The new location will offer a wide range of Trulieve’s in-house brands and partner products, reinforcing the company’s commitment to providing affordable, high-quality cannabis products and an elevated customer experience.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Cannabis Wins Seven Awards for Employee Development Excellence

Trulieve Cannabis Corp. has been honored with seven awards at the 2025 Brandon Hall Group HCM Excellence Awards for its innovative employee development programs. These accolades highlight Trulieve’s commitment to excellence in employee training and talent management, with programs like TruU ATTAIN, Seeds to Success, and SPHERE of Influence receiving recognition for their effective approaches to skill development, learning, and employee recognition.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Strengthens Leadership with Key Appointments

Trulieve Cannabis Corp. has announced the appointment of Matthew Foulston to its Board of Directors and Jan Reese as Chief Financial Officer. These strategic appointments are expected to bring valuable experience and insight to Trulieve as it navigates the evolving cannabis landscape, aiming to enhance shareholder value and capitalize on growth opportunities.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.

Trulieve Expands Ohio Presence with New Cincinnati Dispensary

Trulieve Cannabis Corp. has announced the opening of a new dispensary in Cincinnati, Ohio, operated by Harvest Grows LLC under a licensing agreement. This expansion marks a significant step in Trulieve’s growth strategy, enhancing its presence in Ohio and offering a wide range of cannabis products to both adult-use customers and medical patients. The new location will provide various services, including walk-in, express pickup, and drive-through options, contributing to Trulieve’s goal of delivering high-quality products and customer experiences.

The most recent analyst rating on (TSE:TRUL) stock is a Hold with a C$10.00 price target. To see the full list of analyst forecasts on Trulieve Cannabis stock, see the TSE:TRUL Stock Forecast page.