Verano Holdings (VRNO) AI Stock Analysis

• Market Cap: C$2.17B
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: -4.58%
• EPS Growth: -141.91%
• Country: CA
• Employees: 3,800
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.16
• Shares Outstanding: 361,815,900
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.45
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 32.52
• 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$6.96
• Price Target Upside: 10.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.25
• Revenue Forecast (FY): C$1.17B

• Rating: 49 Neutral
• Price Target: C$6.50 ▲(2.85% Upside)

The overall stock score reflects significant challenges in financial performance and technical analysis, with declining revenues, profitability issues, and stagnant price trends. However, positive corporate events provide some optimism for future growth and market expansion. The valuation remains unattractive due to negative earnings and lack of dividends.

Verano Holdings Business Overview & Revenue Model

Company Description

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia. It offers artisanal cannabis products under the Encore, Avexia, MUV, Savvy, BITS, and Verano brands for medical and adult-use markets. The company is headquartered in Chicago, Illinois.

How the Company Makes Money

Verano Holdings generates revenue primarily through the sale of cannabis products across its retail dispensaries and wholesale distribution channels. The company operates a network of dispensaries in key markets, providing direct access to consumers. Additionally, Verano engages in the cultivation and manufacturing of cannabis, where it produces a variety of products that are sold under its proprietary brands. Key revenue streams include retail sales from dispensaries, wholesale sales to other dispensaries, and licensing agreements for its branded products. Partnerships with local growers and distributors further enhance its market reach and operational efficiency, contributing to overall earnings.

Verano Holdings Financial Statement Overview

Summary

Verano Holdings is facing financial challenges with declining revenues, significant net losses, and negative cash flow growth. While the gross profit margin is stable, the company struggles with profitability and cash flow management. The balance sheet shows moderate leverage, but the negative return on equity highlights ongoing profitability issues.

Income Statement

Verano Holdings shows declining revenue with a negative growth rate of -2.32% in TTM. The company is experiencing significant losses, with a net profit margin of -40.20% and negative EBIT and EBITDA margins, indicating operational challenges. The gross profit margin remains relatively stable at 49.18%, suggesting some efficiency in cost management despite overall financial struggles.

Balance Sheet

The debt-to-equity ratio is moderate at 0.56, indicating a balanced approach to leveraging. However, the return on equity is negative at -25.67%, reflecting the company's inability to generate profit from shareholders' equity. The equity ratio stands at 47.76%, showing a reasonable level of equity financing relative to total assets.

Cash Flow

The company faces challenges with cash flow, as evidenced by a significant decline in free cash flow growth of -54.39% in TTM. The operating cash flow to net income ratio is 0.50, indicating some ability to generate cash from operations despite losses. However, the negative free cash flow to net income ratio highlights ongoing cash flow difficulties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	833.10M	878.59M	938.45M	1.14B	925.07M	306.53M
Gross Profit	415.34M	443.93M	475.21M	534.79M	405.23M	157.02M
EBITDA	-121.13M	-94.29M	239.22M	47.32M	212.51M	100.44M
Net Income	-347.20M	-341.86M	-117.35M	-350.41M	-72.10M	51.51M
Balance Sheet
Total Assets	1.93B	1.99B	3.08B	3.26B	3.22B	419.98M
Cash, Cash Equivalents and Short-Term Investments	82.62M	87.80M	230.44M	114.97M	125.20M	20.90M
Total Debt	107.55M	522.98M	542.79M	675.78M	446.27M	67.17M
Total Liabilities	897.85M	1.04B	1.45B	1.45B	1.35B	224.55M
Stockholders Equity	1.93B	952.17M	1.64B	1.82B	1.87B	187.48M
Cash Flow
Free Cash Flow	36.50M	13.15M	99.04M	-32.32M	54.55M	10.79M
Operating Cash Flow	82.54M	112.19M	148.07M	122.83M	242.15M	100.88M
Investing Cash Flow	-35.03M	-133.25M	-63.98M	-270.59M	-582.27M	-119.07M
Financing Cash Flow	-29.87M	-65.93M	27.60M	129.20M	443.82M	33.89M

Verano Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.32
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Neutral
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VRNO, the sentiment is Negative. The current price of 6.32 is above the 20-day moving average (MA) of 6.32, above the 50-day MA of 6.32, and below the 200-day MA of 6.32, indicating a neutral trend. The MACD of <0.01 indicates Neutral momentum. The RSI at 100.00 is Negative, neither overbought nor oversold. The STOCH value of 81.97 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:VRNO.

Verano Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GTII	75 Outperform	C$2.64B	44.13	2.42%	―	6.18%	-28.69%
TRUL	60 Neutral	C$2.30B	―	-9.95%	―	4.27%	3.41%
CURA	58 Neutral	$2.74B	-7.29	-27.61%	―	-3.38%	-31.35%
CL	52 Neutral	C$778.61M	-8.47	-11.79%	―	-6.48%	22.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VRNO	49 Neutral	C$2.17B	-4.68	-33.01%	―	-4.58%	-141.91%
ACB	49 Neutral	C$334.55M	-5.73	-10.76%	―	23.87%	-19.57%

Verano Holdings Corporate Events

Verano Opens Sixth West Virginia Dispensary with Zen Leaf Charleston

Verano has expanded its medical cannabis retail presence in West Virginia with the opening of Zen Leaf Charleston, its sixth dispensary in the state and 159th location nationwide, strategically located in the state capital to serve patients in West Virginia’s most populous city. The new outlet builds on Verano’s vertically integrated operations in the state, which include a 40,000-square-foot cultivation and processing facility in Beaver producing multiple in-house brands, and underscores the company’s push to deepen its footprint in a market with more than 35,000 registered medical cannabis patients, enhancing access, brand visibility and scale advantages for both patients and the company’s broader U.S. network.

The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Hails U.S. Cannabis Rescheduling as Transformative Industry Milestone

Verano Holdings Corp., a major U.S. cannabis operator with 158 dispensaries across 13 states and extensive cultivation and processing capacity, sells a broad portfolio of branded cannabis products for both medical and adult-use markets through its Zen Leaf and MÜV retail banners and related consumer offerings. The company is publicly celebrating President Donald Trump’s executive order directing the Department of Justice to move cannabis from Schedule I to Schedule III under the Controlled Substances Act, highlighting the potential for expanded medical research, improved access to banking, tax relief and the possibility of a U.S. stock exchange listing; Verano’s leadership frames the policy shift as a transformative milestone that could accelerate industry normalization, job creation, and broader economic and community benefits for cannabis businesses of all sizes.

The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Holdings Secures Conditional License for Cannabis Operations in Texas

Verano Holdings has been awarded a conditional license by the Texas Department of Public Safety to cultivate, process, and dispense medical cannabis in Texas, pending final state approval. This development marks a significant expansion for Verano into Texas, the second-largest state by size and population, as part of the state’s Compassionate Use Program. The move is expected to enhance Verano’s market presence and contribute to the growth of the legal cannabis industry in the U.S., providing health and wellness benefits to Texas patients and creating economic opportunities in the state.

The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Flower by Edie Parker Partners with Verano to Launch Cannabis Line in Florida

Flower by Edie Parker has announced an exclusive partnership with Verano Holdings to launch its premium cannabis products in Florida, featuring a campaign with Miami native rapper JT. This collaboration marks a significant expansion for Edie Parker, positioning it as the largest female-operated cannabis brand in the U.S. and enhancing its market presence in Florida through Verano’s 82 MÜV dispensaries. The partnership is expected to attract a diverse range of consumers and strengthen both companies’ positions in the cannabis industry.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Partners with Raw Garden to Launch Cannabis Products in New Jersey

Verano Holdings has announced an exclusive partnership with Raw Garden, a prominent California cannabis operator, to introduce Raw Garden’s products in New Jersey. This collaboration will see the launch of Raw Garden’s Live Resin Terpene Cartridges and All-in-One Vapes at Verano’s Zen Leaf dispensaries and other retailers in New Jersey starting November 11. The partnership aims to bring popular West Coast cannabis products to the East Coast, enhancing Verano’s product portfolio and market presence in New Jersey, while marking Raw Garden’s first expansion outside California.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Holdings Corp. Completes Redomicile to Nevada

Verano Holdings Corp. has successfully completed the redomicile of its parent company from British Columbia, Canada, to Nevada, USA. This strategic move, approved by shareholders and finalized with the necessary legal filings, positions Verano to potentially benefit from Nevada’s regulatory environment, enhancing its operational efficiency and market presence. The company’s common stock continues to trade under the same ticker symbols on the Cboe Canada exchange and OTCQX, ensuring continuity for investors.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Holdings Reports Q3 2025 Financial Results Amid Industry Challenges

Verano Holdings reported its financial results for the third quarter of 2025, highlighting a revenue of $203 million, a gross profit of $95 million, and a net loss of $44 million. The company faced challenges such as price compression and increased competition, impacting its revenue and profitability. Despite these challenges, Verano continues to invest in infrastructure and expand its retail footprint, including opening new dispensaries and securing a $75 million revolving credit facility to support strategic initiatives.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Holdings Launches Innovative HYPHEN Vape System

Verano Holdings has launched the HYPHEN system, a new addition to its expanding vape product portfolio, featuring innovative technology that allows users to switch between different extracts, sizes, and brands using interchangeable vape pods. This launch, starting in major cannabis markets like Arizona, Illinois, Maryland, and New Jersey, is expected to enhance Verano’s market presence by offering consumers greater flexibility and convenience, potentially impacting the company’s operations and industry positioning positively.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Verano Holdings Opens Unique Zen Leaf Antwerp Dispensary in Historic Ohio Train Depot

Verano Holdings has announced the grand opening of Zen Leaf Antwerp, a unique cannabis dispensary located in the historic Norfolk & Western Train Depot in Ohio. This opening marks Verano’s sixth dispensary in Ohio, enhancing its market presence in the state. The dispensary, which offers a distinctive shopping experience due to its historical setting, aims to create jobs and stimulate economic growth in the community. The grand opening will feature a job fair, providing opportunities for aspiring cannabis professionals.

The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.