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Trulieve Cannabis

CNSX:TRUL
Snowflake Description

Good value with adequate balance sheet.

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

Trulieve Cannabis Corp., together with its subsidiaries, operates as a medical marijuana company. The last earnings update was 37 days ago. More info.


Add to Portfolio Compare Print
  • Trulieve Cannabis has significant price volatility in the past 3 months.
TRUL Share Price and Events
7 Day Returns
-8.7%
CNSX:TRUL
-0.2%
CA Pharmaceuticals
1.2%
CA Market
1 Year Returns
-
CNSX:TRUL
-45.8%
CA Pharmaceuticals
-0.4%
CA Market
TRUL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Trulieve Cannabis (TRUL) -8.7% 5.6% -22.3% - - -
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
  • No trading data on TRUL.
  • No trading data on TRUL.
Price Volatility
Industry
5yr Volatility vs Market

TRUL Value

 Is Trulieve Cannabis 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 Trulieve Cannabis 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 Trulieve Cannabis.

CNSX:TRUL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 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:TRUL
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%) (12.33%))
0.847
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.847 * 5.96%)
7%

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

The calculations below outline how an intrinsic value for Trulieve Cannabis 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:TRUL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7%)
2020 71.07 Analyst x1 66.42
2021 98.83 Analyst x1 86.32
2022 120.21 Est @ 21.64% 98.13
2023 139.12 Est @ 15.73% 106.14
2024 155.26 Est @ 11.6% 110.71
2025 168.77 Est @ 8.7% 112.47
2026 180.03 Est @ 6.68% 112.13
2027 189.49 Est @ 5.26% 110.31
2028 197.57 Est @ 4.26% 107.49
2029 204.63 Est @ 3.57% 104.04
Present value of next 10 years cash flows $1,014.00
CNSX:TRUL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $204.63 × (1 + 1.95%) ÷ (7% – 1.95%)
$4,130.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,130.24 ÷ (1 + 7%)10
$2,100.04
CNSX:TRUL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,014.00 + $2,100.04
$3,114.04
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,114.04 / 113.73
$27.38
CNSX:TRUL Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of CNSX:TRUL)
1.325
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $27.38 x 1.325
CA$36.29
Value per share (CAD) From above. CA$36.29
Current discount Discount to share price of CA$11.45
= -1 x (CA$11.45 - CA$36.29) / CA$36.29
68.4%

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

Current Discount
Amount off the current price Trulieve Cannabis is available for.
Intrinsic value
>50%
Share price is CA$11.45 vs Future cash flow value of CA$36.29
Current Discount Checks
For Trulieve Cannabis to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Trulieve Cannabis's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Trulieve Cannabis'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 Trulieve Cannabis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Trulieve Cannabis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:TRUL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.94
CNSX:TRUL Share Price ** CNSX (2019-09-19) in CAD CA$11.45
CNSX:TRUL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $8.64
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 Trulieve Cannabis.

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

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

= 8.64 ÷ 0.94

9.24x

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

  • Trulieve Cannabis is good value based on earnings compared to the CA Pharmaceuticals industry average.
  • Trulieve Cannabis is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Trulieve Cannabis's expected growth come at a high price?
Raw Data
CNSX:TRUL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
5.9%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 .

CNSX:TRUL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.24x ÷ 5.9%

1.56x

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

  • Trulieve Cannabis is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Trulieve Cannabis's assets?
Raw Data
CNSX:TRUL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $1.59
CNSX:TRUL Share Price * CNSX (2019-09-19) in CAD CA$11.45
CNSX:TRUL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.754 $8.64
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:TRUL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 8.64 ÷ 1.59

5.42x

* Primary Listing of Trulieve Cannabis.

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

  • Trulieve Cannabis is overvalued based on assets compared to the CA Pharmaceuticals industry average.
X
Value checks
We assess Trulieve Cannabis'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. Trulieve Cannabis has a total score of 4/6, 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.

TRUL Future Performance

 How is Trulieve Cannabis expected to perform in the next 1 to 3 years based on estimates from 6 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
5.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Trulieve Cannabis expected to grow at an attractive rate?
  • Trulieve Cannabis's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Trulieve Cannabis's earnings growth is positive but not above the Canada market average.
  • Trulieve Cannabis's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
CNSX:TRUL Future Growth Rates Data Sources
Data Point Source Value (per year)
CNSX:TRUL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 5.9%
CNSX:TRUL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 39.7%
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:TRUL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:TRUL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 482 110 129 3
2020-12-31 385 44 89 6
2019-12-31 240 -7 106 6
2019-09-20
CNSX:TRUL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 167 36 100
2019-03-31 132 34 51
2018-12-31 103 25 43
2018-09-30 80 19 33
2018-06-30 55 10 16
2018-03-31 33 2 9
2017-12-31 20 0 4
2016-12-31 0 -4 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Trulieve Cannabis's earnings are expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).
  • Trulieve Cannabis'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:TRUL 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 6 Analyst Estimates (S&P Global) See Below

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

CNSX:TRUL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.10 1.23 0.97 2.00
2020-12-31 0.78 0.87 0.67 4.00
2019-12-31 0.94 1.04 0.82 4.00
2019-09-20
CNSX:TRUL Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.94
2019-03-31 0.49
2018-12-31 0.42
2018-09-30 0.30
2018-06-30 23.63
2018-03-31 0.09
2017-12-31 0.05
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 Trulieve Cannabis will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Trulieve Cannabis'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.
Trulieve Cannabis has a total score of 3/6, 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.

TRUL Past Performance

  How has Trulieve Cannabis 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 Trulieve Cannabis'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.
  • Insufficient data to establish if Trulieve Cannabis's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Trulieve Cannabis's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Trulieve Cannabis's earnings growth has exceeded the CA Pharmaceuticals industry average in the past year (546.1% vs 8%).
Earnings and Revenue History
Trulieve Cannabis'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 Trulieve Cannabis Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:TRUL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 166.67 100.45 45.17
2019-03-31 132.05 50.81 36.41
2018-12-31 102.82 42.97 29.19
2018-09-30 80.11 32.59 22.85
2018-06-30 55.16 15.55 17.03
2018-03-31 33.44 9.05 11.99
2017-12-31 19.78 3.57 8.31
2016-12-31 0.16 -3.66 1.46

*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.
  • Trulieve Cannabis made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Trulieve Cannabis used its assets more efficiently than the CA Pharmaceuticals industry average last year based on Return on Assets.
  • Unable to establish if Trulieve Cannabis improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Trulieve Cannabis'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.
Trulieve Cannabis has a total score of 3/6, 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.

TRUL Health

 How is Trulieve Cannabis'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 Trulieve Cannabis's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Trulieve Cannabis is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Trulieve Cannabis's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Trulieve Cannabis'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 2.5x 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 Trulieve Cannabis Company Filings, last reported 2 months ago.

CNSX:TRUL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 175.59 78.37 54.03
2019-03-31 118.06 20.01 20.58
2018-12-31 104.22 20.07 24.43
2018-09-30 91.99 19.89 42.14
2018-06-30 26.10 32.10 8.87
2018-03-31 11.12 14.46 1.41
2017-12-31 11.12 14.46 1.41
2016-12-31 -0.06 5.44 0.14
  • Trulieve Cannabis's level of debt (44.6%) compared to net worth is high (greater than 40%).
  • Unable to establish if Trulieve Cannabis's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (46.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 39.1x coverage).
X
Financial health checks
We assess Trulieve Cannabis'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. Trulieve Cannabis has a total score of 4/6, 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.

TRUL Dividends

 What is Trulieve Cannabis'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 Trulieve Cannabis dividends.
If you bought CA$2,000 of Trulieve Cannabis 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 Trulieve Cannabis's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Trulieve Cannabis'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:TRUL 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 6 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:TRUL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
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 Trulieve Cannabis has not reported any payouts.
  • Unable to verify if Trulieve Cannabis's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Trulieve Cannabis's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Trulieve Cannabis 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 Trulieve Cannabis'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 Trulieve Cannabis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Trulieve Cannabis 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.

TRUL Management

 What is the CEO of Trulieve Cannabis'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
Kim Rivers
COMPENSATION $150,000
AGE 40
TENURE AS CEO 4.3 years
CEO Bio

Ms. Kimberly Rivers, also known as Kim, serves as Chairman and Chief Executive Officer of Trulieve Cannabis Corp. and has been its Director since November 2015. Ms. Rivers is a member of the Georgia Bar association and she spent several years in private practice as a lawyer where she specialized in mergers, acquisitions, and securities for multi-million dollar companies. For over a decade, Ms. Rivers has run numerous successful businesses from real estate to finance. Ms. Rivers received her Bachelor's degree in Multinational Business and Political Science from Florida State University and her Juris Doctorate from the University of Florida.

CEO Compensation
  • Insufficient data for Kim to compare compensation growth.
  • Kim's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Trulieve Cannabis management team in years:

0.5
Average Tenure
50
Average Age
  • The average tenure for the Trulieve Cannabis management team is less than 2 years, this suggests a new team.
Management Team

Kim Rivers

TITLE
CEO & Chairman
COMPENSATION
$150K
AGE
40
TENURE
4.3 yrs

Mohan Srinivasan

TITLE
Chief Financial Officer
COMPENSATION
$200K
AGE
66

Kevin Darmody

TITLE
Chief Operating Officer
COMPENSATION
$150K
AGE
60
TENURE
0.5 yrs

Jason Pernell

TITLE
Chief Information Officer
COMPENSATION
$150K
AGE
42

Lynn Ricci

TITLE
Director of Investor Relations
AGE
53
TENURE
0.5 yrs

Eric Powers

TITLE
General Counsel & Corporate Secretary
AGE
50
TENURE
0.5 yrs

Victoria Walker

TITLE
Director of Marketing & Community Relations
AGE
34

Steven Ferrell

TITLE
Senior Human Resources Director
AGE
49

Timothy Morey

TITLE
Director of Retail
AGE
56
Board of Directors Tenure

Average tenure and age of the Trulieve Cannabis board of directors in years:

3.8
Average Tenure
54
Average Age
  • The tenure for the Trulieve Cannabis board of directors is about average.
Board of Directors

Kim Rivers

TITLE
CEO & Chairman
COMPENSATION
$150K
AGE
40

Richard May

TITLE
Director
AGE
41
TENURE
3.8 yrs

Michael O’Donnell

TITLE
Director
AGE
67
TENURE
1.3 yrs

Thad Beshears

TITLE
Director
AGE
44
TENURE
3.8 yrs

George Hackney

TITLE
Director
AGE
64
TENURE
3.8 yrs

Peter Healy

TITLE
Director
AGE
68
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • Trulieve Cannabis individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
16. Sep 19 Sell Michael O’Donnell Individual 11. Sep 19 11. Sep 19 -295,100 CA$11.02 CA$-3,251,948
16. Sep 19 Sell Richard May Individual 11. Sep 19 11. Sep 19 -125,000 CA$11.02 CA$-1,377,477
16. Sep 19 Sell George Hackney Individual 11. Sep 19 11. Sep 19 -300,000 CA$11.02 CA$-3,305,945
16. Sep 19 Sell Jason Pernell Individual 11. Sep 19 11. Sep 19 -347,900 CA$11.02 CA$-3,833,795
X
Management checks
We assess Trulieve Cannabis'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. Trulieve Cannabis 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.

TRUL News

Simply Wall St News

These Factors Make Trulieve Cannabis Corp. (CNSX:TRUL) An Interesting Investment

In the case of TRUL, it is a company with strong financial health as well as a excellent growth outlook. … High growth potential with excellent balance sheet One reason why investors are attracted to TRUL is its notable earnings growth potential in the near future of 36%. … This indicates that TRUL has sufficient cash flows and proper cash management in place, which is a crucial insight into the health of the company.

Simply Wall St -

Is Trulieve Cannabis Corp.'s (CNSX:TRUL) 43% ROE Better Than Average?

View our latest analysis for Trulieve Cannabis How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Trulieve Cannabis: 43% = US$51m ÷ US$118m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Trulieve Cannabis's Debt And Its 43% Return On Equity Although Trulieve Cannabis does use debt, its debt to equity ratio of 0.17 is still low.

Simply Wall St -

Trulieve Cannabis Corp. (CNSX:TRUL): What Can We Expect From This High Growth Stock?

Today I want to provide a brief commentary on how market analysts perceive Trulieve Cannabis's earnings growth outlook over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for Trulieve Cannabis Analysts' expectations for this coming year seems optimistic, with earnings rising by a significant 67%. … CNSX:TRUL Past and Future Earnings, May 21st 2019 Even though it is informative understanding the rate of growth each year relative to today’s value, it may be more valuable determining the rate at which the company is rising or falling on average every year.

Simply Wall St -

Should Trulieve Cannabis Corp. (CNSX:TRUL) Be Your Next Stock Pick?

Attractive stocks have exceptional fundamentals. … In the case of Trulieve Cannabis Corp. … financial health as well as

Simply Wall St -

Should We Be Delighted With Trulieve Cannabis Corp.'s (CNSX:TRUL) ROE Of 35%?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Trulieve Cannabis Corp. … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.35 in profit.

Simply Wall St -

Trulieve Cannabis Corp. (CNSX:TRUL): Commentary On Fundamentals

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … financial health as well as

Simply Wall St -

Should You Be Excited About Trulieve Cannabis Corp.'s (CNSX:TRUL) 35% Return On Equity?

To keep the lesson grounded in practicality, we'll use ROE to better understand Trulieve Cannabis Corp. … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.35 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Trulieve Cannabis Corp's (CNSX:TRUL) Balance Sheet Strong Enough To Weather A Storm?

Trulieve Cannabis Corp (CNSX:TRUL) is a small-cap stock with a market capitalization of CA$134m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes

Simply Wall St -

TRUL Company Info

Description

Trulieve Cannabis Corp., together with its subsidiaries, operates as a medical marijuana company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as directly to patients via home delivery. It produces approximately 170 stock keeping units, including smokable flowers, flower pods for vaporizing, concentrates, topicals, capsules, tinctures, and vape cartridges. The company operates 26 stores. Trulieve Cannabis Corp. is headquartered in Quincy, Florida.

Details
Name: Trulieve Cannabis Corp.
TRUL
Exchange: CNSX
Founded:
CA$1,302,207,778
113,729,937
Website: http://www.trulieve.com
Address: Trulieve Cannabis Corp.
6749 Ben Bostic Road,
Quincy,
Florida, 32351,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX TRUL Subordinate Votings Shares Canadian National Stock Exchange CA CAD 25. Sep 2018
OTCPK TCNN.F Subordinate Votings Shares Pink Sheets LLC US USD 25. Sep 2018
Number of employees
Current staff
Staff numbers
2,000
Trulieve Cannabis employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/20 01:27
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/16
Last earnings filing: 2019/08/14
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.