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Green Thumb Industries Inc. manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, tinctures, edibles, topicals, capsules, tinctures, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, RYM, and RHYTHM brands. It distributes its products to third-party licensed retail customers; and sells finished products to third-party licensed retail cannabis stores. Green Thumb Industries Inc. was founded in 2014 and is headquartered in Chicago, Illinois.
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Green Thumb Industries is a U.S. multi-state cannabis company that manufactures branded cannabis products and operates retail dispensaries serving medical and adult-use markets. Long-term growth drivers include expansion of legal cannabis markets, scaling retail footprint and brand penetration, and new product rollouts that may benefit from rising consumer demand; the company appears positioned to capture share through an integrated retail-to-manufacturing model. Principal risks include continued federal illegality, state regulatory variability and licensing constraints, competitive pressures from other MSOs and illicit markets, and tax and banking limitations that could pressure margins and access to capital.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 263.36M | 200.14M | 156.05M | 108.43M | 204.97M |
| Minority interest | -1.90M | -0.77M | -1.15M | -1.68M | 4.93M |
| Net income | 114.15M | 73.08M | 36.27M | 11.98M | 75.44M |
| Selling general administrative | 437.19M | 376.68M | 341.86M | 294.40M | 277.09M |
| Gross profit | 574.89M | 601.11M | 526.50M | 503.96M | 491.93M |
| Reconciled depreciation | 197.01M | 167.59M | 149.02M | 140.65M | 102.58M |
| Ebit | - | - | - | 210.99M | 226.95M |
| Ebitda | - | - | - | 129.63M | 329.53M |
| Non operating income net other | - | - | - | - | 12.11M |
| Operating income | 137.70M | 224.43M | 184.63M | 209.57M | 214.84M |
| Interest expense | 20.02M | 24.27M | 19.07M | 21.20M | 21.98M |
| Tax provision | 147.30M | 126.29M | 118.63M | 94.78M | 124.61M |
| Interest income | 11.38M | 9.07M | 6.70M | 4.07M | 1.43M |
| Net interest income | -8.64M | -15.19M | -12.38M | -17.13M | -20.54M |
| Income tax expense | - | - | - | 94.78M | 124.61M |
| Total revenue | 1175.30M | 1137.14M | 1054.55M | 1017.38M | 893.56M |
| Total operating expenses | 1037.60M | 912.72M | 869.92M | 807.81M | 277.09M |
| Cost of revenue | 600.40M | 536.03M | 528.06M | 513.41M | 401.63M |
| Total other income expense net | 134.30M | -9.09M | -16.21M | -84.00M | 10.68M |
| Net income from continuing ops | 116.05M | 73.85M | 37.42M | 13.65M | 80.36M |
| Net income applicable to common shares | - | - | - | 11.98M | 75.44M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 2790.06M | 2537.01M | 2490.06M | 2433.53M | 2385.85M |
| Intangible assets | 436.68M | 488.29M | 538.68M | 589.52M | 675.49M |
| Other current assets | 18.40M | 14.68M | 5.38M | 197.23M | 246.66M |
| Total liab | 879.41M | 747.93M | 786.80M | 768.10M | 766.37M |
| Total stockholder equity | 1905.43M | 1789.08M | 1703.26M | 1664.92M | 1621.12M |
| Deferred long term liab | - | - | - | - | 81.85M |
| Other current liab | - | - | - | 369.20M | 91.24M |
| Common stock | - | - | - | 1663.56M | 1619.48M |
| Capital stock | 1780.59M | 1758.50M | 1703.85M | 1663.56M | 1633.67M |
| Retained earnings | 165.42M | 51.27M | -21.82M | -58.09M | -70.06M |
| Other liab | - | - | - | 97.61M | 140.30M |
| Good will | 592.15M | 589.69M | 589.69M | 589.69M | 632.85M |
| Other assets | - | - | - | 3.06M | 127.88M |
| Cash | 274.30M | 171.69M | 161.63M | 177.68M | 230.42M |
| Total current liabilities | 177.31M | 164.97M | 126.05M | 146.57M | 204.38M |
| Net debt | - | 83.27M | 146.89M | 96.95M | 9.51M |
| Short term debt | - | - | - | 275.67M | 0.78M |
| Short long term debt | 18.50M | 12.06M | 3.00M | 1.04M | 0.78M |
| Other stockholder equity | - | - | - | 1641.68M | 1527.35M |
| Property plant equipment | - | - | - | 557.87M | 409.07M |
| Total current assets | 577.17M | 403.90M | 342.76M | 351.35M | 364.23M |
| Long term investments | 205.88M | 83.88M | 89.30M | 74.17M | 94.90M |
| Net tangible assets | - | - | - | 485.71M | 312.78M |
| Net receivables | 51.27M | 52.83M | 42.98M | 38.45M | 22.10M |
| Long term debt | 226.40M | 242.90M | 305.53M | 274.63M | 239.15M |
| Inventory | 158.29M | 147.16M | 112.97M | 115.67M | 95.47M |
| Accounts payable | 24.57M | 24.77M | 24.50M | 123.23M | 112.36M |
| Noncontrolling interest in consolidated entity | - | - | - | 0.52M | -1.64M |
| Non currrent assets other | 2.10M | 2.17M | 2.56M | 270.93M | 209.31M |
| Non current assets total | 2212.89M | 2133.11M | 2147.30M | 2082.18M | 2021.62M |
| Capital lease obligations | 273.45M | 275.74M | 261.76M | 249.28M | 191.76M |
| Long term debt total | - | - | - | - | 239.15M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -75.49M | -9.80M | -8.30M | -5.80M | -60.63M |
| Change to liabilities | - | - | - | 0.69M | -13.97M |
| Total cashflows from investing activities | - | - | - | -219.95M | -280.73M |
| Net borrowings | -10.70M | -56.64M | 24.42M | 19.15M | 138.19M |
| Total cash from financing activities | -50.94M | -95.59M | -13.11M | 8.64M | 295.34M |
| Change to operating activities | - | - | - | -39.54M | -24.04M |
| Net income | 114.15M | 73.08M | 36.27M | 11.98M | 75.44M |
| Change in cash | 113.59M | 10.05M | -16.05M | -52.74M | 146.66M |
| Begin period cash flow | 171.69M | 161.63M | 177.68M | 230.42M | 83.76M |
| End period cash flow | 285.28M | 171.69M | 161.63M | 177.68M | 230.42M |
| Total cash from operating activities | 294.93M | 195.18M | 224.97M | 158.56M | 132.05M |
| Issuance of capital stock | - | - | 0.00M | 0.00M | 155.50M |
| Depreciation | 197.01M | 167.59M | 149.02M | 105.84M | 75.69M |
| Other cashflows from investing activities | - | - | - | -34.64M | -32.25M |
| Dividends paid | - | - | - | - | 11.03M |
| Change to inventory | -12.89M | -35.02M | 1.12M | -19.79M | -16.44M |
| Change to account receivables | 1.09M | -9.86M | -12.00M | -9.26M | -0.65M |
| Sale purchase of stock | -38.87M | -43.08M | -39.86M | 3.82M | 169.76M |
| Other cashflows from financing activities | - | - | - | -14.33M | -12.61M |
| Change to netincome | - | - | - | 77.31M | 22.92M |
| Capital expenditures | 81.07M | 80.19M | 220.03M | 179.50M | 187.85M |
| Change receivables | - | - | - | -9.26M | -0.65M |
| Cash flows other operating | - | - | - | -27.99M | 29.82M |
| Cash and cash equivalents changes | - | - | - | -52.74M | 146.66M |
| Change in working capital | -75.93M | -83.47M | -35.84M | -70.27M | -65.27M |
| Stock based compensation | 44.93M | 33.31M | 28.19M | 27.14M | 19.60M |
| Other non cash items | -5.74M | -12.55M | 9.53M | -21.42M | 6.10M |
| Free cash flow | 213.86M | 115.00M | 4.93M | -20.94M | -55.80M |
Sector: Healthcare Industry: Drug Manufacturers - Specialty & Generic
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| GTBIF Green Thumb Industries Inc |
-0.14 2.09% |
6.56 | 13.45 | 25.19 | 1.34 | 0.86 | 1.58 | 3.76 |
| MKKGY Merck KGaA ADR |
0.85 2.56% |
34.06 | 21.25 | 14.93 | 3.10 | 2.14 | 3.60 | 12.98 |
| MKGAF MERCK Kommanditgesellschaft auf Aktien |
2.55 1.52% |
170.00 | 24.86 | 15.11 | 3.13 | 1.98 | 3.08 | 18.89 |
| TAK Takeda Pharmaceutical Co Ltd ADR |
0.31 1.49% |
21.06 | - | 10.96 | 0.01 | 1.20 | 2.94 | 23.11 |
| TKPHF Takeda Pharmaceutical Co. Ltd. |
- -% |
40.91 | - | 10.66 | 0.01 | 1.16 | 2.94 | 23.11 |
Green Thumb Industries Inc. manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, tinctures, edibles, topicals, capsules, tinctures, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, RYM, and RHYTHM brands. It distributes its products to third-party licensed retail customers; and sells finished products to third-party licensed retail cannabis stores. Green Thumb Industries Inc. was founded in 2014 and is headquartered in Chicago, Illinois.
| Name | Title | Year Born |
|---|---|---|
| Mr. Benjamin Kovler | Founder, Chairman & CEO | 1979 |
| Mr. Anthony Georgiadis | CFO & Director | 1978 |
| Mr. Mathew Faulkner | Chief Accounting Officer | 1973 |
| Mr. Swadheen Sehgal | Chief Information Officer | NA |
| Mr. Andrew Laurence Grossman | EVP of Capital Markets & Investor Relations | 1974 |
| Ms. Linda Marsicano | VP of Communications | 1968 |
| Mr. Daniel Shaker | Sr. VP of National Sales | 1971 |
| Ms. Kate Denton | Sr. VP of Marketing | NA |
| Mr. Bret Kravitz | Chief Corp. Counsel | 1980 |
| Ms. Dina Rollman | Sr. VP of Gov. & Regulatory Affairs | 1973 |
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