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iAnthus Capital Holdings

CNSX:IAN
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IAN
CNSX
CA$502M
Market Cap
  1. Home
  2. CA
  3. Pharmaceuticals & Biotech
Company description

iAnthus Capital Holdings, Inc. owns and operates licensed cannabis cultivation, processing, and dispensary facilities in the United States. The last earnings update was 25 days ago. More info.


Add to Portfolio Compare Print
  • iAnthus Capital Holdings has significant price volatility in the past 3 months.
IAN Share Price and Events
7 Day Returns
-3.3%
CNSX:IAN
-0.2%
CA Pharmaceuticals
1.2%
CA Market
1 Year Returns
-63.5%
CNSX:IAN
-45.8%
CA Pharmaceuticals
-0.4%
CA Market
IAN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
iAnthus Capital Holdings (IAN) -3.3% -15% -28.3% -63.5% 44.5% -
CA Pharmaceuticals -0.2% -1.8% -21.5% -45.8% 251% 334.4%
CA Market 1.2% 3.3% 0.8% -0.4% 7.4% 4.5%
1 Year Return vs Industry and Market
  • IAN underperformed the Pharmaceuticals industry which returned -45.8% over the past year.
  • IAN underperformed the Market in Canada which returned -0.4% over the past year.
Price Volatility
IAN
Industry
5yr Volatility vs Market

IAN Value

 Is iAnthus Capital Holdings 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 iAnthus Capital Holdings 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 iAnthus Capital Holdings.

CNSX:IAN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
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:IAN
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))
= 0.704 (1 + (1- 21%) (28.54%))
0.908
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.908 * 5.96%)
7.36%

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

The calculations below outline how an intrinsic value for iAnthus Capital Holdings 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:IAN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.36%)
2020 -48.55 Analyst x2 -45.22
2021 55.25 Analyst x2 47.94
2022 104.00 Analyst x1 84.05
2023 145.64 Est @ 40.04% 109.63
2024 187.30 Est @ 28.61% 131.34
2025 225.91 Est @ 20.61% 147.55
2026 259.82 Est @ 15.01% 158.07
2027 288.64 Est @ 11.09% 163.57
2028 312.74 Est @ 8.35% 165.08
2029 332.84 Est @ 6.43% 163.65
Present value of next 10 years cash flows $1,125.00
CNSX:IAN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $332.84 × (1 + 1.95%) ÷ (7.36% – 1.95%)
$6,271.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,271.35 ÷ (1 + 7.36%)10
$3,083.41
CNSX:IAN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,125.00 + $3,083.41
$4,208.41
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,208.41 / 173.63
$24.24
CNSX:IAN Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of CNSX:IAN)
1.325
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $24.24 x 1.325
CA$32.12
Value per share (CAD) From above. CA$32.12
Current discount Discount to share price of CA$2.89
= -1 x (CA$2.89 - CA$32.12) / CA$32.12
91%

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

Current Discount
Amount off the current price iAnthus Capital Holdings is available for.
Intrinsic value
>50%
Share price is CA$2.89 vs Future cash flow value of CA$32.12
Current Discount Checks
For iAnthus Capital Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • iAnthus Capital Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • iAnthus Capital Holdings'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 iAnthus Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are iAnthus Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:IAN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.49
CNSX:IAN Share Price ** CNSX (2019-09-19) in CAD CA$2.89
CNSX:IAN Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $2.18
Canada Pharmaceuticals Industry PE Ratio Median Figure of 13 Publicly-Listed Pharmaceuticals Companies 18.72x
Canada Market PE Ratio Median Figure of 540 Publicly-Listed Companies 14.11x

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

** Primary Listing of iAnthus Capital Holdings.

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

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

= 2.18 ÷ -0.49

-4.44x

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

  • iAnthus Capital Holdings is loss making, we can't compare its value to the CA Pharmaceuticals industry average.
  • iAnthus Capital Holdings is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does iAnthus Capital Holdings's expected growth come at a high price?
Raw Data
CNSX:IAN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
87.7%per year
Canada Pharmaceuticals Industry PEG Ratio Median Figure of 7 Publicly-Listed Pharmaceuticals Companies 1.57x
Canada Market PEG Ratio Median Figure of 246 Publicly-Listed Companies 0.95x

*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 iAnthus Capital Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on iAnthus Capital Holdings's assets?
Raw Data
CNSX:IAN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $3.63
CNSX:IAN Share Price * CNSX (2019-09-19) in CAD CA$2.89
CNSX:IAN Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $2.18
Canada Pharmaceuticals Industry PB Ratio Median Figure of 151 Publicly-Listed Pharmaceuticals Companies 2.32x
Canada Market PB Ratio Median Figure of 2,454 Publicly-Listed Companies 1.44x
CNSX:IAN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.18 ÷ 3.63

0.6x

* Primary Listing of iAnthus Capital Holdings.

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

  • iAnthus Capital Holdings is good value based on assets compared to the CA Pharmaceuticals industry average.
X
Value checks
We assess iAnthus Capital Holdings'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. iAnthus Capital Holdings has a total score of 3/6, 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.

IAN Future Performance

 How is iAnthus Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 9 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
87.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is iAnthus Capital Holdings expected to grow at an attractive rate?
  • iAnthus Capital Holdings's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • iAnthus Capital Holdings's earnings growth is expected to exceed the Canada market average.
  • iAnthus Capital Holdings's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
CNSX:IAN Future Growth Rates Data Sources
Data Point Source Value (per year)
CNSX:IAN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 87.7%
CNSX:IAN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 53.3%
Canada Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 110.6%
Canada Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 58.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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:IAN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:IAN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 393 118 51 1
2021-12-31 379 91 57 4
2020-12-31 287 42 13 9
2019-12-31 104 -29 -37 9
2019-09-20
CNSX:IAN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 32 -46 -54
2019-03-31 13 -30 -80
2018-12-31 3 -29 -62
2018-09-30 0 -21 -53
2018-06-30 0 -15 -45
2018-03-31 0 -12 -12
2017-12-31 -6 -14
2017-09-30 2 -6 -8
2017-06-30 1 -4 -8
2017-03-31 1 -4 -6
2016-12-31 0 -3 -5
2016-09-30 0 -3 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • iAnthus Capital Holdings's earnings are expected to grow significantly at over 20% yearly.
  • iAnthus Capital Holdings'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:IAN 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 9 Analyst Estimates (S&P Global) See Below

All data from iAnthus Capital Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:IAN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.21 0.21 0.21 1.00
2021-12-31 0.11 0.11 0.11 1.00
2020-12-31 0.01 0.29 -0.13 4.00
2019-12-31 -0.30 -0.20 -0.45 4.00
2019-09-20
CNSX:IAN Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.49
2019-03-31 -0.97
2018-12-31 -0.97
2018-09-30 -1.02
2018-06-30 -1.07
2018-03-31 -0.36
2017-12-31 -0.48
2017-09-30 -0.29
2017-06-30 -0.36
2017-03-31 -0.24
2016-12-31 -0.32
2016-09-30 -0.36

*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.
  • iAnthus Capital Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess iAnthus Capital Holdings'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.
iAnthus Capital Holdings 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.

IAN Past Performance

  How has iAnthus Capital Holdings 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 iAnthus Capital Holdings'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.
  • iAnthus Capital Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare iAnthus Capital Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare iAnthus Capital Holdings's 1-year growth to the CA Pharmaceuticals industry average as it is not currently profitable.
Earnings and Revenue History
iAnthus Capital Holdings'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 iAnthus Capital Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:IAN 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 31.74 -53.50 51.63
2019-03-31 12.80 -79.65 33.42
2018-12-31 3.41 -62.03 24.57
2018-09-30 -0.02 -53.17 25.14
2018-06-30 -0.40 -45.35 19.32
2018-03-31 -0.11 -12.47 12.06
2017-12-31 -13.72 7.38
2017-09-30 1.68 -8.11 7.28
2017-06-30 1.17 -8.07 6.24
2017-03-31 0.69 -6.41 4.93
2016-12-31 0.39 -5.06 3.67
2016-09-30 0.31 -4.31 3.48
2015-12-31 0.05 -1.32 1.12
2014-12-31 -1.56 1.30

*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 iAnthus Capital Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if iAnthus Capital Holdings 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 iAnthus Capital Holdings 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 iAnthus Capital Holdings'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.
iAnthus Capital Holdings 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.

IAN Health

 How is iAnthus Capital Holdings'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 iAnthus Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • iAnthus Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • iAnthus Capital Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of iAnthus Capital Holdings'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.9x 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 iAnthus Capital Holdings Company Filings, last reported 2 months ago.

CNSX:IAN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 622.54 87.89 30.52
2019-03-31 562.89 95.44 42.34
2018-12-31 111.26 31.23 15.29
2018-09-30 100.43 30.42 15.65
2018-06-30 101.32 31.52 27.11
2018-03-31 88.88 19.04 3.27
2017-12-31 21.83 14.60 6.18
2017-09-30 14.96 14.38 1.80
2017-06-30 16.15 13.94 8.46
2017-03-31 17.77 13.34 16.15
2016-12-31 17.51 0.74 9.41
2016-09-30 4.13 1.10 1.36
2015-12-31 0.41 0.00 0.21
2014-12-31 -0.47 0.00
  • iAnthus Capital Holdings's level of debt (14.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if iAnthus Capital Holdings'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.

  • iAnthus Capital Holdings has less than a year of cash runway based on current free cash flow.
  • iAnthus Capital Holdings has less than a year of cash runway if free cash flow continues to grow at historical rates of 109.8% each year.
X
Financial health checks
We assess iAnthus Capital Holdings'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. iAnthus Capital Holdings has a total score of 2/6, 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.

IAN Dividends

 What is iAnthus Capital Holdings'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 iAnthus Capital Holdings dividends.
If you bought CA$2,000 of iAnthus Capital Holdings 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 iAnthus Capital Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate iAnthus Capital Holdings'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:IAN 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 9 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 1.2%
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:IAN 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
2019-09-20

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

  • Unable to perform a dividend volatility check as iAnthus Capital Holdings has not reported any payouts.
  • Unable to verify if iAnthus Capital Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of iAnthus Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as iAnthus Capital Holdings 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 iAnthus Capital Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 iAnthus Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. iAnthus Capital Holdings 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.

IAN Management

 What is the CEO of iAnthus Capital Holdings'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
Hadley Ford
COMPENSATION $276,000
AGE 59
TENURE AS CEO 5 years
CEO Bio

Mr. Hadley C. Ford is a Co-Founder of iAnthus Capital Holdings, Inc. and has been its Chief Executive Officer since August 2014 and also serves as its Managing Director. Mr. Ford is a healthcare and technology industry veteran with more than 20 years of experience as both an operating executive and investment banker. He has extensive experience in all operational facets of managing a large, world-class patient-centric healthcare operation. He co-founded ProCure Treatment Centers, Inc. served as its Chief Executive Officer from 2005 to 2013. He served as Chief Financial Officer of Clearway Technologies, LLC. Prior to ProCure, Mr. Ford spent fourteen years on Wall Street with First Boston, Bank of America and Goldman Sachs, where he completed over 150 transactions worth billions of dollars for all size clients in multiple industries. He served as a Vice President in Goldman’s Communications, Media and Entertainment Group of Goldman Sachs. Before joining Goldman Sachs, he worked in corporate finance with Credit Suisse First Boston and served as a Research Analyst at Fidelity Investments. He serves a Director at iAnthus Capital Holdings, Inc. since August 12, 2016. He served as a Director of ProCure Treatment Centers, Inc. He also served on Goldman’s Technology and Global Application committees and was a member of the Board of Directors of I-NET and Concentric Network Corporation. He has spoken at numerous healthcare, telecom and technology conferences and has been quoted and profiled by leading media such as The New York Times, The Wall Street Journal and National Public Radio. Mr. Ford received his M.B.A. from the Graduate School of Business at Stanford University in 1991, where he was named an Arjay Miller Scholar. Mr. Ford graduated summa cum laude with a B.S. in Business Administration from Boston University in 1987 and was class valedictorian.

CEO Compensation
  • Hadley's compensation has increased whilst company is loss making.
  • Insufficient data for Hadley to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure

Average tenure of the iAnthus Capital Holdings management team in years:

0.7
Average Tenure
  • The average tenure for the iAnthus Capital Holdings management team is less than 2 years, this suggests a new team.
Management Team

Hadley Ford

TITLE
Co-Founder
COMPENSATION
$276K
AGE
59
TENURE
5 yrs

Randy Maslow

TITLE
Co-Founder
COMPENSATION
$331K

Julius Kalcevich

TITLE
CFO, Corporate Secretary & Director
COMPENSATION
$221K
TENURE
2.9 yrs

Rick Boxer

TITLE
Chief Medical Officer
COMPENSATION
$20K

Pat Tiernan

TITLE
Chief Operating Officer
TENURE
0.6 yrs

Megan Kulick

TITLE
Vice President of Investor Relations

Neil Calvesbert

TITLE
Chief Marketing Officer
TENURE
0.4 yrs

John Henderson

TITLE
Senior Vice President of Eastern Operations

Beth Stavola

TITLE
Chief Strategy Officer

Todd Karnig

TITLE
Senior Vice President of Western Operations
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure of the iAnthus Capital Holdings board of directors in years:

3
Average Tenure
  • The tenure for the iAnthus Capital Holdings board of directors is about average.
Board of Directors

Hadley Ford

TITLE
Co-Founder
COMPENSATION
$276K
AGE
59
TENURE
3.1 yrs

Randy Maslow

TITLE
Co-Founder
COMPENSATION
$331K
TENURE
3.1 yrs

Julius Kalcevich

TITLE
CFO, Corporate Secretary & Director
COMPENSATION
$221K
TENURE
3.1 yrs

Adam Cohen

TITLE
Member of Advisory Board

Chris Hudalla

TITLE
Member of Advisory Board

Alex Ford

TITLE
Member of Advisory Board

Paul Rosen

TITLE
Director
COMPENSATION
$11K
AGE
55
TENURE
3 yrs

Jaime Lewis

TITLE
Member of Advisory Board

Rusty Shepard

TITLE
Member of Advisory Board
TENURE
2.7 yrs

Robert Petch

TITLE
Director
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by iAnthus Capital Holdings individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
06. Sep 19 Sell Hadley Ford Individual 03. Sep 19 03. Sep 19 -30,000 CA$3.35 CA$-99,670
08. Aug 19 Buy Elizabeth Stavola Individual 07. Aug 19 07. Aug 19 10,000 CA$3.13 CA$31,311
07. Aug 19 Buy Gotham Green Partners, LLC Company 10. Oct 18 10. Oct 18 44,994 CA$6.65 CA$299,210
24. Jul 19 Buy Pat Tiernan Individual 15. Jul 19 15. Jul 19 5,000 CA$3.63 CA$18,168
23. Jul 19 Buy Elizabeth Stavola Individual 23. Jul 19 23. Jul 19 10,000 CA$3.39 CA$33,934
19. Jul 19 Buy Elizabeth Stavola Individual 18. Jul 19 18. Jul 19 10,000 CA$3.76 CA$37,617
15. Jul 19 Buy Randy Maslow Individual 15. Jul 19 15. Jul 19 20,000 CA$3.65 CA$73,056
12. Jul 19 Buy Julius Kalcevich Individual 11. Jul 19 11. Jul 19 20,000 CA$3.80 CA$75,946
12. Jul 19 Buy Elizabeth Stavola Individual 10. Jul 19 10. Jul 19 20,000 CA$3.70 CA$74,088
09. Jul 19 Buy Elizabeth Stavola Individual 27. Jun 19 27. Jun 19 1,969,534 CA$4.29 CA$8,447,648
03. Jul 19 Buy Robert Galvin Individual 27. Jun 19 27. Jun 19 36,969 CA$4.29 CA$158,566
04. Apr 19 Sell Hadley Ford Individual 02. Apr 19 02. Apr 19 -50,000 CA$7.18 CA$-358,600
18. Jan 19 Sell Hadley Ford Individual 15. Jan 19 15. Jan 19 -20,000 CA$6.25 CA$-125,000
13. Dec 18 Sell Hadley Ford Individual 11. Dec 18 11. Dec 18 -10,000 CA$6.42 CA$-64,100
07. Dec 18 Sell Hadley Ford Individual 30. Nov 18 30. Nov 18 -241,000 CA$2.22 CA$-535,595
07. Dec 18 Sell Hadley Ford Individual 07. Dec 18 07. Dec 18 -15,000 CA$5.87 CA$-88,050
26. Oct 18 Sell Hadley Ford Individual 25. Oct 18 25. Oct 18 -150,000 CA$1.63 CA$-245,044
15. Oct 18 Buy Gotham Green Partners, LLC Company 10. Oct 18 10. Oct 18 180,006 CA$6.65 CA$1,197,040
X
Management checks
We assess iAnthus Capital Holdings'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. iAnthus Capital Holdings 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.

IAN News

Simply Wall St News

Here's Why iAnthus Capital Holdings (CNSX:IAN) Can Afford Some Debt

CNSX:IAN Historical Debt, August 23rd 2019 How Healthy Is iAnthus Capital Holdings's Balance Sheet? … This deficit isn't so bad because iAnthus Capital Holdings is worth US$427.1m, and thus could probably raise enough capital to shore up its balance sheet, if the need arose. … But it is future earnings, more than anything, that will determine iAnthus Capital Holdings's ability to maintain a healthy balance sheet going forward.

Simply Wall St -

Does iAnthus Capital Holdings, Inc. (CNSX:IAN) Have A Volatile Share Price?

See our latest analysis for iAnthus Capital Holdings What IAN's beta value tells investors Looking at the last five years, iAnthus Capital Holdings has a beta of 1.12. … If this beta value holds true in the future, iAnthus Capital Holdings shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. … What this means for you: Since iAnthus Capital Holdings has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.

Simply Wall St -

Investors Are Undervaluing iAnthus Capital Holdings, Inc. (CNSX:IAN) By 21.21%

In this article I am going to calculate the intrinsic value of iAnthus Capital Holdings, Inc. … by taking the expected future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

What Kind Of Investor Owns Most Of iAnthus Capital Holdings, Inc. (CNSX:IAN)?

A look at the shareholders of iAnthus Capital Holdings, Inc. … iAnthus Capital Holdings is a smaller company with a market capitalization of CA$515m, so it may still be flying under the radar of many institutional investors. … institutional investors have not yet purchased much of the company.

Simply Wall St -

Should You Be Concerned About iAnthus Capital Holdings Inc's (CNSX:IAN) Shareholders?

I am going to take a deep dive into iAnthus Capital Holdings Inc’s (CNSX:IAN) most recent ownership structure, not a frequent subject of discussion among individual investors. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … See our latest analysis for iAnthus Capital Holdings

Simply Wall St -

Is There An Opportunity With iAnthus Capital Holdings Inc's (CNSX:IAN) 10.69% Undervaluation?

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of iAnthus Capital Holdings Inc (CNSX:IAN) as an investment opportunity. … by estimating the company's future cash flows and discounting them to their present value. … If you are reading this and its not June 2018 then I highly recommend you check out the latest calculation for iAnthus Capital Holdings by following the link below.

Simply Wall St -

IAN Company Info

Description

iAnthus Capital Holdings, Inc. owns and operates licensed cannabis cultivation, processing, and dispensary facilities in the United States. As of August 23, 2019, it operated 24 dispensaries in 11 states. The company is based in New York, New York.

Details
Name: iAnthus Capital Holdings, Inc.
IAN
Exchange: CNSX
Founded:
CA$501,801,566
173,633,760
Website: http://www.ianthus.com
Address: iAnthus Capital Holdings, Inc.
420 Lexington Avenue,
Suite 414,
New York,
New York, 10170,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX IAN Common Shares Canadian National Stock Exchange CA CAD 07. Sep 2016
OTCPK ITHU.F Common Shares Pink Sheets LLC US USD 07. Sep 2016
DB 2IA Common Shares Deutsche Boerse AG DE EUR 07. Sep 2016
Number of employees
Current staff
Staff numbers
500
iAnthus Capital Holdings employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/20 01:21
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/19
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.