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Harvest Health & Recreation

CNSX:HARV
Snowflake Description

High growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HARV
CNSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Pharmaceuticals & Biotech
Company description

Harvest Health & Recreation Inc. cultivates, processes, and retails cannabis in the United States. The last earnings update was 27 days ago. More info.


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  • Harvest Health & Recreation has significant price volatility in the past 3 months.
HARV Share Price and Events
7 Day Returns
-17.5%
CNSX:HARV
-5.9%
CA Pharmaceuticals
1.3%
CA Market
1 Year Returns
-
CNSX:HARV
-46.7%
CA Pharmaceuticals
-0.1%
CA Market
HARV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Harvest Health & Recreation (HARV) -17.5% -11.3% -34.7% - - -
CA Pharmaceuticals -5.9% -3.4% -24.8% -46.7% 217.3% 286.4%
CA Market 1.3% 4.2% 1.6% -0.1% 8.4% 5.7%
1 Year Return vs Industry and Market
  • No trading data on HARV.
  • No trading data on HARV.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Harvest Health & Recreation undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Harvest Health & Recreation to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Harvest Health & Recreation.

CNSX:HARV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CNSX:HARV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.698 (1 + (1- 21%) (12.57%))
0.844
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.844 * 5.96%)
6.98%

Discounted Cash Flow Calculation for CNSX:HARV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Harvest Health & Recreation is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

CNSX:HARV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.98%)
2020 63.88 Analyst x1 59.71
2021 184.15 Analyst x1 160.91
2022 277.98 Analyst x1 227.04
2023 352.33 Est @ 26.75% 269.00
2024 420.36 Est @ 19.31% 300.00
2025 479.63 Est @ 14.1% 319.97
2026 529.77 Est @ 10.45% 330.37
2027 571.63 Est @ 7.9% 333.22
2028 606.59 Est @ 6.12% 330.53
2029 636.10 Est @ 4.86% 323.99
Present value of next 10 years cash flows $2,654.00
CNSX:HARV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $636.10 × (1 + 1.95%) ÷ (6.98% – 1.95%)
$12,886.97
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,886.97 ÷ (1 + 6.98%)10
$6,563.89
CNSX:HARV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,654.00 + $6,563.89
$9,217.89
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,217.89 / 285.92
$32.24
CNSX:HARV Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of CNSX:HARV)
1.326
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $32.24 x 1.326
CA$42.76
Value per share (CAD) From above. CA$42.76
Current discount Discount to share price of CA$5.39
= -1 x (CA$5.39 - CA$42.76) / CA$42.76
87.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Harvest Health & Recreation is available for.
Intrinsic value
>50%
Share price is CA$5.39 vs Future cash flow value of CA$42.76
Current Discount Checks
For Harvest Health & Recreation to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Harvest Health & Recreation's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Harvest Health & Recreation's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Harvest Health & Recreation's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Harvest Health & Recreation's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:HARV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.39
CNSX:HARV Share Price ** CNSX (2019-09-20) in CAD CA$5.39
CNSX:HARV Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $4.06
Canada Pharmaceuticals Industry PE Ratio Median Figure of 13 Publicly-Listed Pharmaceuticals Companies 15.3x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 14.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Harvest Health & Recreation.

CNSX:HARV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:HARV Share Price ÷ EPS (both in USD)

= 4.06 ÷ -0.39

-10.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Harvest Health & Recreation is loss making, we can't compare its value to the CA Pharmaceuticals industry average.
  • Harvest Health & Recreation is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Harvest Health & Recreation's expected growth come at a high price?
Raw Data
CNSX:HARV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
159.4%per year
Canada Pharmaceuticals Industry PEG Ratio Median Figure of 7 Publicly-Listed Pharmaceuticals Companies 1.56x
Canada Market PEG Ratio Median Figure of 245 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Harvest Health & Recreation, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Harvest Health & Recreation's assets?
Raw Data
CNSX:HARV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $1.31
CNSX:HARV Share Price * CNSX (2019-09-20) in CAD CA$5.39
CNSX:HARV Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $4.06
Canada Pharmaceuticals Industry PB Ratio Median Figure of 151 Publicly-Listed Pharmaceuticals Companies 2.36x
Canada Market PB Ratio Median Figure of 2,457 Publicly-Listed Companies 1.43x
CNSX:HARV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:HARV Share Price ÷ Book Value per Share (both in USD)

= 4.06 ÷ 1.31

3.11x

* Primary Listing of Harvest Health & Recreation.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Harvest Health & Recreation is overvalued based on assets compared to the CA Pharmaceuticals industry average.
X
Value checks
We assess Harvest Health & Recreation's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Harvest Health & Recreation has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Harvest Health & Recreation expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
159.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Harvest Health & Recreation expected to grow at an attractive rate?
  • Harvest Health & Recreation's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Harvest Health & Recreation's earnings growth is expected to exceed the Canada market average.
  • Harvest Health & Recreation's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
CNSX:HARV Future Growth Rates Data Sources
Data Point Source Value (per year)
CNSX:HARV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 159.4%
CNSX:HARV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 61.8%
Canada Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 97.7%
Canada Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 56.5%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:HARV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:HARV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,629 533 2
2021-12-31 1,318 307 3
2020-12-31 857 166 90 7
2019-12-31 151 -46 -61 4
2019-09-22
CNSX:HARV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 74 -65 -112
2019-03-31 58 -38 -89
2018-12-31 47 -16 -67
2018-09-30 37 0 5
2018-06-30 33 3 5
2018-03-31 27 2 3
2017-12-31 23 1 4
2016-12-31 13 3 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Harvest Health & Recreation's earnings are expected to grow significantly at over 20% yearly.
  • Harvest Health & Recreation's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:HARV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Harvest Health & Recreation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:HARV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.22 0.23 0.21 2.00
2019-12-31 -0.20 -0.16 -0.23 2.00
2019-09-22
CNSX:HARV Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.39
2019-03-31 -0.31
2018-12-31 -0.31
2018-09-30 4.89
2018-06-30 4.57
2018-03-31
2017-12-31 3.59
2016-12-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Harvest Health & Recreation will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Harvest Health & Recreation's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Harvest Health & Recreation has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Harvest Health & Recreation performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Harvest Health & Recreation's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Harvest Health & Recreation does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Harvest Health & Recreation's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Harvest Health & Recreation's 1-year growth to the CA Pharmaceuticals industry average as it is not currently profitable.
Earnings and Revenue History
Harvest Health & Recreation's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Harvest Health & Recreation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:HARV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 73.93 -112.19 87.25
2019-03-31 57.86 -88.76 58.79
2018-12-31 46.96 -67.47 38.28
2018-09-30 37.22 4.89 15.33
2018-06-30 32.95 4.57 11.47
2018-03-31 26.79 3.29 9.35
2017-12-31 22.83 3.59 7.91
2016-12-31 13.37 2.08 4.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Harvest Health & Recreation has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Harvest Health & Recreation has efficiently used its assets last year compared to the CA Pharmaceuticals industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Harvest Health & Recreation improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Harvest Health & Recreation's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Harvest Health & Recreation has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Harvest Health & Recreation's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Harvest Health & Recreation's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Harvest Health & Recreation is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Harvest Health & Recreation's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Harvest Health & Recreation's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Harvest Health & Recreation Company Filings, last reported 2 months ago.

CNSX:HARV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 377.16 105.09 89.91
2019-03-31 362.25 28.88 116.27
2018-12-31 379.80 30.90 191.88
2018-09-30 48.87 59.44 28.17
2018-06-30 44.17 16.01 3.43
2018-03-31 40.97 16.71 1.10
2017-12-31 40.97 16.71 1.10
2016-12-31 3.29 6.98 2.23
  • Harvest Health & Recreation's level of debt (27.9%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Harvest Health & Recreation's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Harvest Health & Recreation has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Harvest Health & Recreation's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Harvest Health & Recreation has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Harvest Health & Recreation's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Harvest Health & Recreation dividends.
If you bought CA$2,000 of Harvest Health & Recreation shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Harvest Health & Recreation's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Harvest Health & Recreation's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:HARV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
North America Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CNSX:HARV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2019-09-22

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Harvest Health & Recreation has not reported any payouts.
  • Unable to verify if Harvest Health & Recreation's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Harvest Health & Recreation's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Harvest Health & Recreation has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Harvest Health & Recreation's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Harvest Health & Recreation afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Harvest Health & Recreation has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Harvest Health & Recreation's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve White
AGE 45
TENURE AS CEO 0.8 years
CEO Bio

Mr. Steven Mathew White, also known as Steve, Founded Harvest Health & Recreation Inc. and serves as its Chief Executive Officer and Director since November 15, 2018. In 2005, Mr. White founded his own boutique law firm and achieved an AV rating, the highest possible rating for skill and ethics. There, he represented clients ranging from very large to start-ups across a variety of industries. He founded Harvest in 2011. After opening Harvest’s first dispensary in 2013, he worked there for several months fulfilling orders, performing reception duties, and consulting with patients. He served as Director of RockBridge Resources Inc. He quickly learned that he had the ability to help shape a company that gave people control over an aspect of their life where they previously had very little – their health and wellness. This led him to instill a culture of education and empowerment at Harvest to provide patients much needed products, resources, and support. He has also been instrumental in navigating state- and county-level regulatory audits, including, to date, more than one hundred state inspections across multiple states, four Americans for Safe Access Patient Focused Certifications, and more than fifty certified financial audits. He sits on Americans for Safe Access’s Advisory Board for its End Pain, Not Lives campaign. He is also a board member of the Arizona Dispensary Association. In addition, he has done hundreds of interviews, speaking engagements, and provided expert testimony on a multitude of marijuana-related topics. He founded Harvesting Hope and serves as its Director. He graduated early from Arizona State’s Honors College summa cum laude with two minors, while also winning an athletic national championship. After his undergraduate work, he attended and graduated from Washington and Lee’s School of Law in 1999. At Washington and Lee, he competed on the school’s Nation Moot Court team and served as a law journal editor. In private practice, he practiced business, business litigation and regulatory law for two national law firms.

CEO Compensation
  • Insufficient data for Steve to compare compensation growth.
  • Insufficient data for Steve to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Harvest Health & Recreation management team in years:

0.8
Average Tenure
45
Average Age
  • The average tenure for the Harvest Health & Recreation management team is less than 2 years, this suggests a new team.
Management Team

Jason Vedadi

TITLE
Executive Chairman
AGE
40

Steve White

TITLE
Founder
AGE
45
TENURE
0.8 yrs

Steve Gutterman

TITLE
President
AGE
49
TENURE
1.1 yrs

Leo Jaschke

TITLE
Chief Financial Officer
TENURE
0.8 yrs

John Cochran

TITLE
Chief Operating Officer
TENURE
0.7 yrs

Christine Hersey

TITLE
Director of Investor Relations

Nicole Stanton

TITLE
VP & General Counsel
TENURE
0.3 yrs

Alex Howe

TITLE
Head of Corporate Communications

Kevin George

TITLE
Chief Marketing Officer
AGE
52
TENURE
0.7 yrs

Siobahn Carragher

TITLE
Director of Human Resources
AGE
43
Board of Directors Tenure

Average tenure and age of the Harvest Health & Recreation board of directors in years:

0.8
Average Tenure
50
Average Age
  • The average tenure for the Harvest Health & Recreation board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jason Vedadi

TITLE
Executive Chairman
AGE
40

Steve White

TITLE
Founder
AGE
45
TENURE
0.8 yrs

Elroy Sailor

TITLE
Director
AGE
50
TENURE
0.8 yrs

Mark Barnard

TITLE
Director
AGE
56
TENURE
0.8 yrs

Frank Bedu-Addo

TITLE
Director
AGE
55
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Harvest Health & Recreation's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Harvest Health & Recreation has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Harvest Health & Recreation Inc's (CNSX:HARV) ROE Of 10% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Harvest Health & Recreation Inc (CNSX:HARV). … Over the last twelve months Harvest Health & Recreation has recorded a ROE of 10%. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Harvest Health & Recreation Inc. cultivates, processes, and retails cannabis in the United States. It operates five stores. The company is headquartered in Tempe, Arizona.

Details
Name: Harvest Health & Recreation Inc.
HARV
Exchange: CNSX
Founded:
CA$1,541,105,312
285,919,353
Website: http://www.harvestinc.com
Address: Harvest Health & Recreation Inc.
1155 West Rio Salado Parkway,
Suite 201,
Tempe,
Arizona, 85281,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX HARV Subordinate Voting Shares Canadian National Stock Exchange CA CAD 15. Nov 2018
OTCPK HRVS.F Subordinate Voting Shares Pink Sheets LLC US USD 15. Nov 2018
Number of employees
Current staff
Staff numbers
300
Harvest Health & Recreation employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/22 00:56
End of day share price update: 2019/09/20 00:00
Last estimates confirmation: 2019/09/12
Last earnings filing: 2019/08/26
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.