What is TRULIEVE CANNABIS CORP's earnings per share (EPS)?

TRULIEVE CANNABIS CORP (TCNNF) reported diluted earnings per share of -$0.58 for fiscal year 2025. This represents a 26.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

TRULIEVE CANNABIS CORP (TCNNF) Financials

TCNNF

Trailing 12 months to March 31, 2026

Revenue $1.2B -1.4% YoY

Net Income -$80.3M +51.1% YoY

EPS (Diluted) -$0.58 FY2025 annual

Free Cash Flow $236.6M +297.9% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TCNNF SEC filings page.

TRULIEVE CANNABIS CORP (TCNNF) reported $1.2B in revenue over the twelve months to Mar 31, 2026, down 1.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TCNNF FY2025 2026-10-03

Trulieve’s revenue is flat, but lower overhead and debt are improving operating results while cash generation increasingly depends on light reinvestment.

Revenue stayed near $1.2B from FY2024 to FY2025 while operating margin widened from 8.2% to 12.2%. That coincided with SG&A falling from $510M to $445M, identifying overhead reduction—not top-line expansion—as the clearer improvement mechanism.

Operating improvement has not yet reached the bottom line: FY2025 operating income was $143M, but the company still recorded a net loss of $116M. Reported interest and income-tax expenses were $63M and $208M, respectively, so below-operating charges still dominate the earnings bridge.

Cash conversion is favorable but capital-light: operating cash flow was $273M despite the net loss, while free cash flow reached $229M as capital expenditures fell to $44M. Long-term debt declined from $365M to $137M; with a 4.4x current ratio, the reported financing structure is less debt-dependent than FY2024.

Financial Health Signals

Financial health score not available

TRULIEVE CANNABIS CORP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress

1.19

TRULIEVE CANNABIS CORP scores 1.19, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.2B) relative to total liabilities ($1.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

TRULIEVE CANNABIS CORP passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

TRULIEVE CANNABIS CORP reported a net loss of $116.4M while generating $272.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage Adequate

2.26x

TRULIEVE CANNABIS CORP earns $2.26 in operating income for every $1 of interest expense ($143.5M vs $63.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$286.8M

YoY-3.7%

QoQ-2.2%

5Y CAGR+8.1%

TRULIEVE CANNABIS CORP generated $286.8M in revenue in Q1 2026. This represents a decrease of 3.7% from the same quarter a year earlier. Against the prior quarter it is down 2.2%.

EBITDA

$65.5M

YoY+4.5%

QoQ+46.4%

5Y CAGR-3.4%

TRULIEVE CANNABIS CORP's EBITDA was $65.5M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.5% from the same quarter a year earlier. Against the prior quarter it is up 46.4%.

Net Income

$2.3M

YoY+106.8%

QoQ+106.1%

5Y CAGR-40.3%

TRULIEVE CANNABIS CORP reported $2.3M in net income in Q1 2026. This represents an increase of 106.8% from the same quarter a year earlier. Against the prior quarter it is up 106.1%.

EPS (Diluted)

$0.02

TRULIEVE CANNABIS CORP earned $0.02 per diluted share (EPS) in Q1 2026.

Cash & Balance Sheet

Free Cash Flow

$42.2M

YoY+23.3%

QoQ-24.3%

5Y CAGR+30.4%

TRULIEVE CANNABIS CORP generated $42.2M in free cash flow in Q1 2026, representing cash available after capex. This represents an increase of 23.3% from the same quarter a year earlier. Against the prior quarter it is down 24.3%.

Cash & Debt

$352.9M

YoY+7.4%

QoQ+38.1%

5Y CAGR+16.8%

TRULIEVE CANNABIS CORP held $352.9M in cash against $195.6M in long-term debt as of Q1 2026.

Shares Outstanding

192M

QoQ0.0%

5Y CAGR+9.9%

TRULIEVE CANNABIS CORP had 192M shares outstanding in Q1 2026. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

59.3%

YoY-2.2pp

QoQ-0.4pp

5Y change-10.5pp

TRULIEVE CANNABIS CORP's gross margin was 59.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.

Operating Margin

12.5%

YoY+1.3pp

QoQ+7.2pp

5Y change-25.0pp

TRULIEVE CANNABIS CORP's operating margin was 12.5% in Q1 2026, reflecting core business profitability. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.2 percentage points.

Net Margin

0.8%

YoY+12.1pp

QoQ+13.7pp

5Y change-14.7pp

TRULIEVE CANNABIS CORP's net profit margin was 0.8% in Q1 2026, showing the share of revenue converted to profit. This is up 12.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.7 percentage points.

Return on Equity

0.2%

YoY+3.0pp

QoQ+3.5pp

5Y change-6.0pp

TRULIEVE CANNABIS CORP's ROE was 0.2% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 3.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.5 percentage points.

Capital Allocation

Capital Expenditures

$13.5M

YoY-20.1%

QoQ+295.3%

5Y CAGR-22.6%

TRULIEVE CANNABIS CORP invested $13.5M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 20.1% from the same quarter a year earlier. Against the prior quarter it is up 295.3%.

R&D Spending

Not reported for Q1 2026.

Share Buybacks

Not reported for Q1 2026.

TCNNF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TCNNF quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19
Revenue	$1.2B	$1.2B-0.4%	$1.2B+5.1%	$1.1B-7.3%	$1.2B+30.7%	$931.9M+78.7%	$521.5M+106.3%	$252.8M
Cost of Revenue	$472.1M	$470.0M-0.2%	$470.7M-12.9%	$540.6M+2.2%	$529.1M+44.8%	$365.4M+170.4%	$135.1M+121.6%	$61.0M
Gross Profit	$698.0M	$711.2M-0.6%	$715.7M+21.6%	$588.6M-14.6%	$689.1M+21.6%	$566.6M+46.6%	$386.4M+101.4%	$191.8M
SG&A Expenses	$431.3M	$445.2M-12.8%	$510.5M+32.2%	$386.2M+127.9%	$169.5M+70.4%	$99.5M+175.8%	$36.1M+156.2%	$14.1M
Operating Income	$145.9M	$143.5M+46.8%	$97.8M+144.1%	-$221.6M-541.8%	$50.2M-75.4%	$204.1M-6.5%	$218.3M+92.7%	$113.3M
EBITDA	N/A	$261.1M+24.0%	$210.6M+288.4%	-$111.8M-167.1%	$166.5M-33.3%	$249.8M+8.2%	$230.9M+95.1%	$118.3M
Interest Expense	$60.5M	$63.5M+2.0%	$62.2M-23.8%	$81.6M+11.1%	$73.4M+152.1%	$29.1M+43.9%	$20.2M+123.6%	$9.1M
Income Tax	$177.5M	$208.1M+5.3%	$197.6M+30.5%	$151.4M-7.4%	$163.4M+12.1%	$145.7M+54.3%	$94.5M+86.7%	$50.6M
Net Income	-$80.3M	-$116.4M+25.0%	-$155.1M+70.6%	-$526.8M-114.1%	-$246.1M-1464.6%	$18.0M-71.4%	$63.0M+18.7%	$53.1M
EPS (Basic)	N/A	-$0.58+26.6%	-$0.79+65.4%	-$2.28-140.0%	-$0.95-531.8%	$0.22-60.0%	$0.55+14.6%	$0.48
EPS (Diluted)	—	-$0.58+26.6%	-$0.79+65.4%	-$2.28-140.0%	-$0.95	$0.21-60.4%	$0.53+15.2%	$0.46
Diluted Shares (Avg)	N/A	191M+0.7%	190M+0.5%	189M+0.5%	188M	147M+24.0%	118M+2.6%	115M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'25	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'24
Revenue	$286.8M-3.7%	$293.1M-2.7%	$288.2M+1.4%	$302.1M-0.4%	$297.8M0.0%	$301.1M+4.9%	$284.3M+3.3%	$303.4M+7.7%
Cost of Revenue	$116.7M+1.9%	$118.0M+3.4%	$118.3M+6.6%	$119.2M-2.2%	$114.5M-7.5%	$114.1M-14.3%	$111.0M-16.1%	$121.8M-13.1%
Gross Profit	$170.1M-7.2%	$175.2M-6.3%	$169.9M-2.0%	$182.9M+0.7%	$183.2M+5.4%	$187.0M+21.6%	$173.3M+21.2%	$181.6M+28.2%
SG&A Expenses	$104.9M-11.7%	$126.3M-20.0%	$99.0M-33.4%	$101.1M-1.4%	$118.8M+17.2%	$157.9M-43.1%	$148.6M+331.4%	$102.6M+193.9%
Operating Income	$35.7M+7.2%	$15.3M+1069.5%	$42.2M+6734.6%	$52.6M+5.8%	$33.3M-27.7%	$1.3M-95.5%	$618K-97.4%	$49.8M+117.1%
EBITDA	$65.5M+4.5%	$44.7M+49.3%	$71.7M+147.6%	$82.1M+5.4%	$62.7M-15.2%	$30.0M-46.9%	$28.9M-42.4%	$77.8M+129.3%
Interest Expense	$13.3M-18.3%	$14.7M+0.4%	$16.1M-7.9%	$16.4M+6.1%	$16.3M+11.1%	$14.6M-29.2%	$17.5M-16.2%	$15.4M-18.4%
Income Tax	$21.9M-58.3%	$47.9M+0.7%	$53.0M+11.9%	$54.7M+15.9%	$52.5M-5.4%	$47.6M+4.7%	$47.4M+29.3%	$47.2M+39.5%
Net Income	$2.3M+106.8%	-$37.7M+33.8%	-$28.8M+53.3%	-$16.1M-34.4%	-$33.8M-37.7%	-$57.0M-111.6%	-$61.6M-138.4%	-$12.0M+97.1%
EPS (Basic)	$0.02+112.5%	N/A	-$0.11+65.6%	-$0.07-75.0%	-$0.160.0%	N/A	-$0.32-166.7%	-$0.04+97.8%
EPS (Diluted)	$0.02	N/A	-$0.11+65.6%	-$0.07-75.0%	-$0.160.0%	N/A	-$0.32-166.7%	-$0.04+97.8%
Diluted Shares (Avg)	198M	N/A	191M+0.6%	191M+0.5%	191M+0.9%	N/A	190M+0.7%	190M+0.7%

Not reported in any period shown, so not listed: R&D Expenses.

TCNNF Balance Sheet

TCNNF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19
Total Assets	$2.7B-6.1%	$2.9B+5.2%	$2.7B-19.7%	$3.4B-0.3%	$3.4B+321.2%	$809.8M	N/A
Current Assets	$562.7M-6.9%	$604.6M+26.6%	$477.3M-19.6%	$593.5M+13.2%	$524.4M+100.6%	$261.5M	N/A
Cash & Equivalents	$255.5M+7.0%	$238.8M+18.6%	$201.4M-2.8%	$207.2M-8.6%	$226.6M+54.5%	$146.7M+59.8%	$91.8M
Inventory	$242.3M+4.7%	$231.4M+8.6%	$213.1M-22.9%	$276.5M+30.3%	$212.2M+115.8%	$98.3M	N/A
Accounts Receivable	$10.5M+26.7%	$8.3M+23.6%	$6.7M+3.0%	$6.5M-26.5%	$8.9M+2774.7%	$308K	N/A
Goodwill	$483.9M0.0%	$483.9M0.0%	$483.9M-38.9%	$791.5M+3.4%	$765.4M+1039.3%	$67.2M+818.2%	$7.3M
Total Liabilities	$1.6B-4.2%	$1.6B+22.8%	$1.3B-10.3%	$1.5B+16.6%	$1.3B+249.2%	$361.9M	N/A
Current Liabilities	$126.9M-8.3%	$138.5M+20.6%	$114.8M-45.4%	$210.3M+24.5%	$168.9M+121.9%	$76.1M	N/A
Non-Current Liabilities	$1.4B-3.8%	$1.5B+23.0%	$1.2B-4.5%	$1.3B+15.3%	$1.1B+283.0%	$285.8M	N/A
Long-Term Debt	$136.7M-62.5%	$364.8M+0.4%	$363.2M-32.9%	$541.7M+17.0%	$462.9M	N/A	N/A
Total Equity	$1.1B-8.5%	$1.2B-11.3%	$1.4B-26.9%	$1.9B-10.2%	$2.1B+379.4%	$447.9M+237.1%	$132.9M
Retained Earnings	-$912.1M-14.6%	-$795.7M-24.2%	-$640.6M-462.7%	-$113.8M-182.7%	$137.7M+15.1%	$119.7M	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'25	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'24
Total Assets	$2.8B-3.7%	$2.7B-6.1%	$2.9B+2.3%	$2.9B+2.0%	$2.9B+2.4%	$2.9B+5.2%	$2.9B+3.6%	$2.9B+2.0%
Current Assets	$653.0M+0.6%	$562.7M-6.9%	$756.4M+25.4%	$711.4M+12.7%	$649.4M+11.0%	$604.6M+26.6%	$603.0M+23.9%	$631.1M+32.9%
Cash & Equivalents	$352.9M+7.4%	$255.5M+7.0%	$449.2M+89.0%	$392.6M+10.5%	$328.5M+2.5%	$238.8M+18.6%	$237.7M+23.7%	$355.2M+133.1%
Inventory	$242.3M+1.3%	$242.3M+4.7%	$243.3M+10.1%	$241.5M+16.3%	$239.3M+14.3%	$231.4M+8.6%	$220.9M-3.9%	$207.6M-17.9%
Accounts Receivable	$14.1M+36.9%	$10.5M+26.7%	$10.5M+16.2%	$10.8M+42.8%	$10.3M+72.9%	$8.3M+23.6%	$9.0M+31.2%	$7.5M+7.4%
Goodwill	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%	$483.9M0.0%
Total Liabilities	$1.6B-2.2%	$1.6B-4.2%	$1.8B+12.1%	$1.7B+15.0%	$1.7B+16.8%	$1.6B+22.8%	$1.6B+17.3%	$1.5B+10.5%
Current Liabilities	$124.2M-9.2%	$126.9M-8.3%	$124.1M-9.2%	$123.8M0.0%	$136.7M+16.6%	$138.5M+20.6%	$136.7M-45.7%	$123.8M-48.5%
Non-Current Liabilities	$1.5B-1.5%	$1.4B-3.8%	$1.6B+14.1%	$1.6B+16.4%	$1.5B+16.9%	$1.5B+23.0%	$1.4B+32.0%	$1.4B+23.4%
Long-Term Debt	$195.6M-46.4%	$136.7M-62.5%	$366.1M+0.5%	$365.7M+0.5%	$365.3M+0.5%	$364.8M+0.4%	$364.4M+0.4%	$364.0M-13.0%
Total Equity	$1.1B-5.7%	$1.1B-8.5%	$1.2B-8.8%	$1.2B-11.7%	$1.2B-11.9%	$1.2B-11.3%	$1.3B-9.7%	$1.4B-6.3%
Retained Earnings	-$909.7M-9.8%	-$912.1M-14.6%	-$869.2M-18.1%	-$842.4M-24.7%	-$828.6M-24.8%	-$795.7M-24.2%	-$736.0M-21.2%	-$675.7M-16.1%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

TCNNF Cash Flow Statement

TCNNF quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19
Operating Cash Flow	$277.4M	$272.8M+0.5%	$271.5M+34.5%	$201.8M+773.9%	$23.1M+79.1%	$12.9M-87.1%	$99.6M+422.4%	$19.1M
Depreciation & Amortization	N/A	$117.6M+4.3%	$112.8M+2.7%	$109.8M-5.6%	$116.4M+154.2%	$45.8M+263.4%	$12.6M+148.1%	$5.1M
Stock-Based Compensation	N/A	$20.5M+1.3%	$20.2M+91.0%	$10.6M-41.7%	$18.1M+95.9%	$9.3M+234.7%	$2.8M	N/A
Capital Expenditures	$40.8M	$44.2M-64.0%	$122.6M+204.7%	$40.2M-75.6%	$164.7M-40.3%	$275.9M+176.1%	$99.9M+39.1%	$71.8M
Free Cash Flow	$236.6M	$228.6M+53.6%	$148.9M-7.9%	$161.6M+214.1%	-$141.7M+46.1%	-$263.0M-88156.4%	-$298K+99.4%	-$52.8M
Investing Cash Flow	-$42.7M	$13.5M+106.5%	-$206.6M-451.4%	-$37.5M+82.6%	-$215.1M+0.1%	-$215.2M-23.2%	-$174.7M-84.5%	-$94.7M
Financing Cash Flow	-$211.2M	-$270.5M-708.9%	-$33.4M+81.0%	-$175.6M-198.8%	$177.8M-38.5%	$289.2M+122.6%	$129.9M-9.1%	$143.0M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'25	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'24
Operating Cash Flow	$55.7M+9.0%	$59.2M+93.0%	$76.8M+153.1%	$85.7M+20.2%	$51.1M-63.3%	$30.7M-76.7%	$30.3M-67.5%	$71.3M+403.8%
Depreciation & Amortization	$29.7M+1.4%	$29.4M+2.7%	$29.5M+4.0%	$29.4M+4.8%	$29.3M+5.7%	$28.6M+5.3%	$28.3M+5.1%	$28.1M+7.8%
Stock-Based Compensation	$4.1M+4.9%	N/A	N/A	N/A	$3.9M-23.5%	N/A	N/A	N/A
Capital Expenditures	$13.5M-20.1%	$3.4M-92.0%	$12.3M-67.7%	$11.6M-56.0%	$16.9M+9.0%	$42.7M+362.2%	$38.1M+507.1%	$26.3M+139.3%
Free Cash Flow	$42.2M+23.3%	$55.8M+564.1%	$64.4M+928.4%	$74.1M+64.6%	$34.2M-72.3%	-$12.0M-109.8%	-$7.8M-108.9%	$45.0M+230.7%
Investing Cash Flow	-$13.2M-130.7%	-$5.9M+74.6%	-$15.4M+88.3%	-$8.2M+75.0%	$43.0M+326.9%	-$23.2M-223.7%	-$131.5M-2535.2%	-$33.0M-406.9%
Financing Cash Flow	$54.8M+1318.9%	-$255.4M-3917.5%	-$4.8M+70.8%	-$5.8M+36.4%	-$4.5M-189.6%	-$6.4M+94.5%	-$16.4M+68.1%	-$9.2M-160.1%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

TCNNF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TCNNF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19
Gross Margin	60.2%-0.1pp	60.3%+8.2pp	52.1%-4.4pp	56.6%-4.2pp	60.8%-13.3pp	74.1%-1.8pp	75.9%
Operating Margin	12.2%+3.9pp	8.2%+27.9pp	-19.6%-23.8pp	4.1%-17.8pp	21.9%-20.0pp	41.9%-2.9pp	44.8%
Net Margin	-9.8%+3.2pp	-13.1%+33.6pp	-46.7%-26.5pp	-20.2%-22.1pp	1.9%-10.2pp	12.1%-8.9pp	21.0%
Return on Equity	-10.2%+2.2pp	-12.4%+25.0pp	-37.4%-24.6pp	-12.8%-13.6pp	0.8%-13.2pp	14.1%-25.9pp	40.0%
Return on Assets	-4.3%+1.1pp	-5.4%+13.9pp	-19.3%-12.1pp	-7.2%-7.8pp	0.5%-7.2pp	7.8%	N/A
Current Ratio	4.43+0.1x	4.37+0.2x	4.16+1.3x	2.82-0.3x	3.10-0.3x	3.43	N/A
Debt-to-Equity	0.12-0.2x	0.290.0x	0.260.0x	0.28+0.1x	0.22-0.6x	0.81	N/A
Asset Turnover	0.440.0x	0.410.0x	0.41+0.1x	0.36+0.1x	0.27-0.4x	0.64	N/A
FCF Margin	19.4%+6.8pp	12.6%-1.8pp	14.3%+25.9pp	-11.6%+16.6pp	-28.2%-28.2pp	-0.1%+20.8pp	-20.9%

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'25	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'24
Gross Margin	59.3%-2.2pp	59.8%-2.3pp	58.9%-2.0pp	60.6%+0.7pp	61.5%+3.1pp	62.1%+8.5pp	61.0%+9.0pp	59.9%+9.6pp
Operating Margin	12.5%+1.3pp	5.2%+4.8pp	14.7%+14.4pp	17.4%+1.0pp	11.2%-4.3pp	0.4%-9.7pp	0.2%-8.3pp	16.4%
Net Margin	0.8%+12.1pp	-12.9%+6.1pp	-10.0%+11.7pp	-5.3%-1.4pp	-11.3%-3.1pp	-18.9%-9.5pp	-21.7%-12.3pp	-4.0%
Return on Equity	0.2%+3.0pp	-3.3%+1.3pp	-2.4%+2.3pp	-1.3%-0.5pp	-2.8%-1.0pp	-4.6%-2.7pp	-4.7%-2.9pp	-0.9%+27.0pp
Return on Assets	0.1%+1.3pp	-1.4%+0.6pp	-1.0%+1.2pp	-0.5%-0.1pp	-1.2%-0.3pp	-2.0%-1.0pp	-2.1%-1.2pp	-0.4%+14.1pp
Current Ratio	5.26+0.5x	4.43+0.1x	6.09+1.7x	5.74+0.6x	4.75-0.2x	4.37+0.2x	4.41+2.5x	5.10+3.1x
Debt-to-Equity	0.17-0.1x	0.12-0.2x	0.310.0x	0.300.0x	0.300.0x	0.290.0x	0.280.0x	0.270.0x
Asset Turnover	0.100.0x	0.110.0x	0.100.0x	0.100.0x	0.100.0x	0.100.0x	0.100.0x	0.110.0x
FCF Margin	14.7%+3.2pp	19.0%+23.0pp	22.4%+25.1pp	24.5%+9.7pp	11.5%-30.0pp	-4.0%-46.6pp	-2.7%-34.4pp	14.8%+27.1pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
TRULIEVE CANNABIS CORP TCNNF	FY2025	$1.2B	-$116.4M	-9.8%	$2.2B	—
GREEN THUMB INDUS SUB VTG GTBIF	FY2025	$1.2B	$114.2M	9.7%	$1.4B	—
NIKA PHARMACEUTICALS INC NIKA	FY2025	N/A	-$76K	N/A	$429.9M	—
CURALEAF HLDGS INC CURLF	FY2025	$1.3B	-$231.1M	-18.2%	$2.2B	—

Where TRULIEVE CANNABIS CORP Ranks

Frequently Asked Questions

What is TRULIEVE CANNABIS CORP's annual revenue?

TRULIEVE CANNABIS CORP (TCNNF) reported $1.2B in total revenue for fiscal year 2025. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is TRULIEVE CANNABIS CORP's revenue growing?

TRULIEVE CANNABIS CORP (TCNNF) revenue declined by 0.4% year-over-year, from $1.2B to $1.2B in fiscal year 2025.

Is TRULIEVE CANNABIS CORP profitable?

No, TRULIEVE CANNABIS CORP (TCNNF) reported a net income of -$116.4M in fiscal year 2025, with a net profit margin of -9.8%.

What is TRULIEVE CANNABIS CORP's EBITDA?

TRULIEVE CANNABIS CORP (TCNNF) had EBITDA of $261.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does TRULIEVE CANNABIS CORP have?

As of fiscal year 2025, TRULIEVE CANNABIS CORP (TCNNF) had $255.5M in cash and equivalents against $136.7M in long-term debt.

What is TRULIEVE CANNABIS CORP's gross margin?

TRULIEVE CANNABIS CORP (TCNNF) had a gross margin of 60.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is TRULIEVE CANNABIS CORP's operating margin?

TRULIEVE CANNABIS CORP (TCNNF) had an operating margin of 12.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is TRULIEVE CANNABIS CORP's net profit margin?

TRULIEVE CANNABIS CORP (TCNNF) had a net profit margin of -9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is TRULIEVE CANNABIS CORP's return on equity (ROE)?

TRULIEVE CANNABIS CORP (TCNNF) has a return on equity of -10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is TRULIEVE CANNABIS CORP's free cash flow?

TRULIEVE CANNABIS CORP (TCNNF) generated $228.6M in free cash flow during fiscal year 2025. This represents a 53.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is TRULIEVE CANNABIS CORP's operating cash flow?

TRULIEVE CANNABIS CORP (TCNNF) generated $272.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are TRULIEVE CANNABIS CORP's total assets?

TRULIEVE CANNABIS CORP (TCNNF) had $2.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are TRULIEVE CANNABIS CORP's capital expenditures?

TRULIEVE CANNABIS CORP (TCNNF) invested $44.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does TRULIEVE CANNABIS CORP have outstanding?

TRULIEVE CANNABIS CORP (TCNNF) had 192M shares outstanding as of fiscal year 2025.

What is TRULIEVE CANNABIS CORP's current ratio?

TRULIEVE CANNABIS CORP (TCNNF) had a current ratio of 4.43 as of fiscal year 2025, which is generally considered healthy.

What is TRULIEVE CANNABIS CORP's debt-to-equity ratio?

TRULIEVE CANNABIS CORP (TCNNF) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is TRULIEVE CANNABIS CORP's return on assets (ROA)?

TRULIEVE CANNABIS CORP (TCNNF) had a return on assets of -4.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is TRULIEVE CANNABIS CORP's Altman Z-Score?

TRULIEVE CANNABIS CORP (TCNNF) has an Altman Z-Score of 1.19, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is TRULIEVE CANNABIS CORP's Piotroski F-Score?

TRULIEVE CANNABIS CORP (TCNNF) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are TRULIEVE CANNABIS CORP's earnings high quality?

TRULIEVE CANNABIS CORP (TCNNF) reported a net loss of $116.4M while generating $272.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can TRULIEVE CANNABIS CORP cover its interest payments?

TRULIEVE CANNABIS CORP (TCNNF) has an interest coverage ratio of 2.26x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.