What is Tilray Brands, Inc.'s earnings per share (EPS)?

Tilray Brands, Inc. (TLRY) reported diluted earnings per share of -$1.09 for fiscal year 2026. 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.

Tilray Brands, Inc. (TLRY) Financials

TLRY

Trailing 12 months to August 31, 2026

Revenue $963.1M +15.9% YoY

Net Income -$164.2M +92.4% YoY

EPS (Diluted) -$1.41 YoY not available

Operating Cash Flow -$84.3M -39.1% YoY

Market Cap $496.6M as of Oct 13, 2026

Price / Sales 0.5x on $963.1M revenue, trailing 12 months to August 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to August 31, 2026

Price / Book 0.3x on $1.6B equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Aug 31, 2026 Reported Oct 8, 2026 Currency USD FYE May

Newest figures come from the 10-Q for Q1 FY2027, filed Oct 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TLRY SEC filings page.

Tilray Brands, Inc. (TLRY) reported $963.1M in revenue over the twelve months to Aug 31, 2026, up 15.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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 TLRY FY2026 2026-10-08

Tilray's 2026 results show improving margins, but the business still relies on financing while operations remain cash-negative.

From FY2022 to FY2026, gross margin widened from 18.6% to 28.5%. Yet FY2026 still produced an operating loss of $63M, showing that improved product-level profitability has not consistently covered the broader operating cost base.

FY2026 revenue reached $915M. The operating loss narrowed to $63M from $2.28B in FY2025, indicating that the prior year's result was not a stable measure of current operating performance.

The 2.2x current ratio and 0.1x debt-to-equity indicate comparatively limited balance-sheet leverage. However, operating cash flow was -$69M while financing cash flow was $131M, so reported funding activity supplied more cash than the core business generated; reported liquidity equaled 41.3 months of the latest annual operating outflow.

Financial Health Signals

Financial Health Score 41/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Tilray Brands, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Tilray Brands, Inc. has an operating margin of -6.9%, meaning the company loses $7 on every $100 of revenue. This results in a profitability score of 14/100. This is up from -277.9% the prior year.

Growth

Tilray Brands, Inc.'s revenue grew 11.5% year-over-year to $915.5M, a solid pace of expansion. This earns a growth score of 59/100.

Leverage

Tilray Brands, Inc. carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Tilray Brands, Inc.'s current ratio of 2.21 indicates adequate short-term liquidity, earning a score of 64/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Returns

Tilray Brands, Inc. posts a -7.5% return on equity (ROE), meaning it loses $8 for every $100 of shareholders' equity. This results in a returns score of 13/100. This is up from -144.7% the prior year.

Altman Z-Score Distress

-2.05

Tilray Brands, Inc. scores -2.05, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($496.6M) relative to total liabilities ($733.1M). 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 Partial

3/8

Tilray Brands, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Tilray Brands, Inc. reported a net loss of $121.4M while operations used $69.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Tilray Brands, Inc. reported an operating loss of $63.0M against $29.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$257.1M

YoY+22.7%

QoQ-8.7%

5Y CAGR+8.9%

Tilray Brands, Inc. generated $257.1M in revenue in Q1 2027. This represents an increase of 22.7% from the same quarter a year earlier. Against the prior quarter it is down 8.7%.

Net Income

-$43.1M

YoY-13297.8%

QoQ+13.0%

Tilray Brands, Inc. reported -$43.1M in net income in Q1 2027. This represents a decrease of 13297.8% from the same quarter a year earlier. Against the prior quarter it is up 13.0%.

EPS (Diluted)

-$0.32

QoQ+27.3%

Tilray Brands, Inc. earned -$0.32 per diluted share (EPS) in Q1 2027. Against the prior quarter it is up 27.3%.

EBITDA

Not reported for Q1 2027.

Cash & Balance Sheet

Cash & Debt

$215.0M

YoY-18.8%

QoQ-4.9%

Tilray Brands, Inc. held $215.0M in cash against $118.0M in long-term debt as of Q1 2027.

Shares Outstanding

148M

QoQ+8.5%

5Y CAGR-20.3%

Tilray Brands, Inc. had 148M shares outstanding in Q1 2027. Against the prior quarter it is up 8.5%.

Free Cash Flow

Not reported for Q1 2027.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Gross Margin

30.1%

YoY+2.7pp

QoQ-2.0pp

5Y change-0.2pp

Tilray Brands, Inc.'s gross margin was 30.1% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is up 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.

Operating Margin

-9.3%

YoY-10.3pp

QoQ-3.5pp

5Y change+31.9pp

Tilray Brands, Inc.'s operating margin was -9.3% in Q1 2027, reflecting core business profitability. This is down 10.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.

Net Margin

-16.8%

YoY-16.6pp

QoQ+0.8pp

5Y change+8.0pp

Tilray Brands, Inc.'s net profit margin was -16.8% in Q1 2027, showing the share of revenue converted to profit. This is down 16.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Return on Equity

-2.7%

YoY-2.6pp

QoQ+0.4pp

5Y change-1.7pp

Tilray Brands, Inc.'s ROE was -2.7% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Capital Allocation

R&D Spending

$89K

YoY+117.1%

QoQ-50.6%

5Y CAGR-35.3%

Tilray Brands, Inc. invested $89K in research and development in Q1 2027. This represents an increase of 117.1% from the same quarter a year earlier. Against the prior quarter it is down 50.6%.

Share Buybacks

Not reported for Q1 2027.

Capital Expenditures

Not reported for Q1 2027.

TLRY 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.

TLRY quarterly income statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1710-K	FY1610-K
Revenue	$963.1M	$915.5M+11.5%	$821.3M+4.1%	$788.9M+25.8%	$627.1M-0.2%	$628.4M+22.5%	$513.1M+26.6%	$405.3M+126.1%	$179.3M	$20.5M+62.4%	$12.6M
Cost of Revenue	$682.6M	$655.0M+12.8%	$580.7M+2.7%	$565.6M+17.8%	$480.2M-6.1%	$511.6M+175.3%	$185.8M-2.4%	$190.5M+560.1%	$28.9M	$9.2M-8.2%	$10.0M
Gross Profit	$280.5M	$260.4M+8.3%	$240.6M+7.7%	$223.4M+52.0%	$147.0M+25.8%	$116.8M+373.8%	$24.7M-88.5%	$214.9M+1405.1%	$14.3M	$11.4M+326.1%	$2.7M
R&D Expenses	$409K	$361K+27.1%	$284K-55.3%	$635K-6.9%	$682K-55.1%	$1.5M-65.6%	$4.4M-51.9%	$9.2M+56.4%	$5.9M	$3.2M+179.1%	$1.1M
SG&A Expenses	$220.2M	$203.6M+21.7%	$167.3M0.0%	$167.4M+1.3%	$165.2M+1.4%	$162.8M+89.6%	$85.9M-22.6%	$110.9M+128.3%	$48.6M	$7.5M+53.4%	$4.9M
Operating Income	-$89.2M	-$63.0M+97.2%	-$2.3B-1206.3%	-$174.7M+87.2%	-$1.4B-124.4%	-$610.4M-203.5%	-$201.1M+33.9%	-$304.1M-425.8%	-$57.8M	-$7.5M-6.4%	-$7.0M
EBITDA	N/A	N/A	N/A	N/A	N/A	-$455.8M-149.8%	-$182.5M+36.7%	-$288.3M-431.1%	-$54.3M	-$5.6M-10.8%	-$5.1M
Interest Expense	$29.7M	$29.9M-27.6%	$41.3M-16.1%	$49.3M+5.7%	$46.6M+17.5%	$39.7M+28.4%	$30.9M+20.5%	$25.6M+352.4%	$5.7M	$693K-10.2%	$772K
Income Tax	$21.1M	$17.1M+114.1%	-$121.0M-354.7%	-$26.6M-270.6%	-$7.2M-9.8%	-$6.5M-16.8%	-$5.6M+33.7%	-$8.4M-89.8%	-$4.5M	N/A	N/A
Net Income	-$164.2M	-$121.4M+94.4%	-$2.2B-792.6%	-$245.0M+83.1%	-$1.5B-204.7%	-$476.8M-75.9%	-$271.1M+15.6%	-$321.2M-374.2%	-$67.7M	-$7.8M+0.9%	-$7.9M
EPS (Basic)	N/A	-$1.09+95.6%	-$24.56-644.2%	-$3.30-40.4%	-$2.35-137.4%	-$0.99+27.2%	-$1.36-189.4%	-$0.47-161.1%	-$0.18	N/A	N/A
EPS (Diluted)	-$1.41	-$1.09	-$24.56-644.2%	-$3.30	-$2.35-137.4%	-$0.99	-$1.36	-$0.47	-$0.18	N/A	N/A
Diluted Shares (Avg)	N/A	112M	89M+19.9%	74M	618M+28.4%	481M	270M	216M	203M	N/A	N/A

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q
Revenue	$257.1M+22.7%	$281.7M+25.5%	$206.7M+11.3%	$217.5M+3.1%	$209.5M+4.7%	$224.5M-2.3%	$185.8M-1.4%	$210.9M+8.9%
Cost of Revenue	$179.6M+18.2%	$191.2M+21.9%	$151.8M+13.5%	$160.0M+6.9%	$152.0M+8.3%	$156.9M+6.4%	$133.8M-3.7%	$149.7M+2.3%
Gross Profit	$77.5M+34.9%	$90.5M+33.8%	$55.0M+5.7%	$57.5M-6.1%	$57.5M-3.7%	$67.6M-17.9%	$52.0M+5.3%	$61.2M+29.1%
R&D Expenses	$89K+117.1%	$180K+429.4%	$62K-27.1%	$78K+30.0%	$41K-61.0%	$34K-91.4%	$85K-19.8%	$60K+7.1%
SG&A Expenses	$57.6M+40.3%	$61.2M+61.1%	$50.2M+28.0%	$51.2M+11.3%	$41.1M-6.9%	$38.0M-12.9%	$39.2M-1.7%	$46.0M+6.2%
Operating Income	-$24.1M-1249.8%	-$16.5M+98.9%	-$26.4M+96.5%	-$22.3M+47.2%	$2.1M+105.7%	-$1.4B-8637.7%	-$759.9M-825.6%	-$42.2M-1.1%
Interest Expense	$6.5M-3.2%	$12.9M-16.1%	$5.0M-40.7%	$5.4M-30.8%	$6.7M-32.0%	$15.3M-31.1%	$8.4M-1.6%	$7.8M-10.0%
Income Tax	$1.7M+175.5%	$13.9M+111.1%	$2.0M+64.1%	$3.5M+74.2%	-$2.3M-357.9%	-$125.1M-352.9%	$1.2M+141.9%	$2.0M+160.2%
Net Income	-$43.1M-13297.8%	-$49.6M+96.1%	-$26.6M+96.6%	-$44.9M+47.4%	-$322K+99.2%	-$1.3B-3909.2%	-$789.4M-751.6%	-$85.3M-74.1%
EPS (Basic)	-$0.32	-$0.44+68.6%	-$0.24+97.2%	-$0.41+58.6%	$0.00+100.0%	-$1.40-3400.0%	-$8.69-7141.7%	-$0.99-1314.3%
EPS (Diluted)	-$0.32	-$0.44	-$0.24	-$0.41	$0.00+100.0%	-$1.40-3400.0%	-$8.69	-$0.99
Diluted Shares (Avg)	133M	N/A	113M	110M	106M-87.9%	N/A	91M	86M

Not reported in any period shown, so not listed: EBITDA.

TLRY Balance Sheet

TLRY quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1710-K	FY1610-K
Total Assets	$2.3B+12.2%	$2.1B-50.9%	$4.2B-2.0%	$4.3B-21.0%	$5.4B-9.6%	$6.0B+604.1%	$855.7M-16.4%	$1.0B	$53.9M	N/A
Current Assets	$792.1M+15.0%	$688.6M+1.6%	$677.7M-12.3%	$773.0M-3.8%	$803.5M-9.1%	$883.6M+204.9%	$289.8M-19.2%	$358.6M	$12.4M	N/A
Cash & Equivalents	$226.0M+1.9%	$221.7M-2.9%	$228.3M+10.5%	$206.6M-50.3%	$415.9M-14.9%	$488.5M+256.0%	$137.2M-25.7%	$184.6M	$2.3M-69.2%	$7.5M
Short-Term Investments	$5.3M-84.8%	$34.7M+7.8%	$32.2M-86.7%	$241.9M	$0	$0	$0-100.0%	$36.3M	$0	$0
Inventory	$301.2M+11.2%	$270.9M+7.5%	$252.1M+25.7%	$200.6M-18.3%	$245.5M-4.3%	$256.4M+175.5%	$93.1M+23.6%	$75.3M	$7.4M	N/A
Accounts Receivable	$189.2M+55.7%	$121.5M+19.5%	$101.7M+17.9%	$86.2M-9.5%	$95.3M+9.1%	$87.3M+228.1%	$26.6M+8.1%	$24.6M	$983K	N/A
Long-Term Investments	$6.6M-35.3%	$10.1M+28.9%	$7.9M+0.8%	$7.8M-22.4%	$10.1M-43.2%	$17.7M-9.7%	$19.6M-15.5%	$23.2M	$0	$0
Goodwill	$752.4M0.0%	$752.4M-62.5%	$2.0B0.0%	$2.0B-23.9%	$2.6B-6.8%	$2.8B+1711.6%	$156.4M+0.9%	$155.0M	N/A	N/A
Total Liabilities	$733.1M+25.4%	$584.8M-24.9%	$778.5M-20.3%	$977.3M-3.1%	$1.0B-35.4%	$1.6B+115.4%	$724.2M+9.1%	$664.0M	$58.8M	N/A
Current Liabilities	$358.4M+27.9%	$280.3M-6.3%	$299.2M-30.9%	$433.0M+54.4%	$280.3M-30.1%	$401.2M+145.2%	$163.7M-7.0%	$175.9M	$50.2M	N/A
Non-Current Liabilities	$374.8M+23.1%	$304.4M-36.5%	$479.3M-11.9%	$544.3M-25.2%	$728.0M-37.2%	$1.2B+106.7%	$560.6M+14.9%	$488.1M	$8.6M	N/A
Long-Term Debt	$120.4M	N/A	N/A	N/A	$117.9M-29.6%	$167.5M+78.1%	$94.0M	N/A	$9.4M	N/A
Total Equity	$1.6B+6.8%	$1.5B-56.1%	$3.4B+3.8%	$3.3B-24.6%	$4.4B-1.4%	$4.5B+3291.3%	$131.5M-63.5%	$360.1M	-$4.9M-291.9%	$2.5M
Retained Earnings	-$5.0B-2.5%	-$4.8B-82.2%	-$2.7B-10.1%	-$2.4B-150.9%	-$962.9M-98.1%	-$486.1M+32.9%	-$724.8M-317.7%	-$173.5M	-$40.5M	N/A

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q
Total Assets	$2.3B+11.8%	$2.3B+12.2%	$2.1B	$2.1B-39.0%	$2.1B-51.1%	$2.1B-50.9%	N/A	$3.4B-19.4%
Current Assets	$807.6M+15.2%	$792.1M+15.0%	$718.8M	$688.6M+0.3%	$701.1M-3.4%	$688.6M+1.6%	N/A	$686.3M+1.3%
Cash & Equivalents	$215.0M-18.8%	$226.0M+1.9%	$204.6M	$221.7M+10.9%	$264.8M+29.1%	$221.7M-2.9%	N/A	$200.0M-12.4%
Short-Term Investments	$3.0M	$5.3M-84.8%	$15.3M	$34.7M-28.4%	$0-100.0%	$34.7M+7.8%	N/A	$48.5M+50.6%
Inventory	$329.0M+16.3%	$301.2M+11.2%	$292.3M+11.0%	$270.9M+2.8%	$282.8M+7.0%	$270.9M+7.5%	$263.4M+7.9%	$263.4M+4.5%
Accounts Receivable	$190.6M+78.0%	$189.2M+55.7%	$118.4M	$121.5M+17.5%	$107.1M+2.9%	$121.5M+19.5%	N/A	$103.4M+1.6%
Long-Term Investments	$6.4M-37.4%	$6.6M-35.3%	$7.6M-23.9%	$13.4M+33.5%	$10.2M+29.5%	$10.1M+28.9%	$10.0M+24.5%	$10.0M+27.7%
Goodwill	$752.4M0.0%	$752.4M0.0%	$752.4M-42.1%	$752.4M-42.1%	$752.4M-62.6%	$752.4M-62.5%	$1.3B-35.3%	$1.3B-35.3%
Total Liabilities	$721.3M+28.3%	$733.1M+25.4%	$549.1M	$584.8M-16.6%	$562.0M-27.8%	$584.8M-24.9%	N/A	$701.0M-9.9%
Current Liabilities	$430.7M+60.9%	$358.4M+27.9%	$257.5M	$280.3M+6.9%	$267.6M-8.8%	$280.3M-6.3%	N/A	$262.2M-12.4%
Non-Current Liabilities	$290.6M-1.3%	$374.8M+23.1%	$291.6M	$304.4M-30.6%	$294.4M-39.3%	$304.4M-36.5%	N/A	$438.9M-8.4%
Long-Term Debt	$118.0M	$120.4M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.6B+5.4%	$1.6B+6.8%	$1.6B-42.4%	$1.5B-44.6%	$1.5B-55.7%	$1.5B-56.1%	$2.7B-19.6%	$2.7B-20.7%
Retained Earnings	-$5.0B-3.4%	-$5.0B-2.5%	-$4.9B	-$4.8B-35.6%	-$4.8B-79.6%	-$4.8B-82.2%	N/A	-$3.6B-34.4%

TLRY Cash Flow Statement

TLRY quarterly cash flow statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1710-K	FY1610-K
Operating Cash Flow	-$84.3M	-$69.1M+26.9%	-$94.6M-206.1%	-$30.9M-490.9%	$7.9M+104.5%	-$177.3M-37.0%	-$129.4M+49.9%	-$258.1M-458.0%	-$46.2M	-$6.0M-80.9%	-$3.3M
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	$154.6M+728.7%	$18.7M+17.7%	$15.8M+344.9%	$3.6M	$1.9M-5.1%	$2.0M
Stock-Based Compensation	N/A	$45.9M+89.1%	$24.3M-23.5%	$31.8M-19.8%	$39.6M+10.0%	$36.0M+21.1%	$29.7M-6.7%	$31.8M+51.7%	$21.0M	$139K+47.9%	$94K
Capital Expenditures	N/A	N/A	$32.9M+12.5%	$29.2M+40.6%	$20.8M-38.9%	$34.1M-23.7%	$44.6M-39.5%	$73.7M+46.9%	$50.2M	$10.9M+2135.7%	$488K
Free Cash Flow	N/A	N/A	-$127.5M-112.0%	-$60.2M-366.5%	-$12.9M+93.9%	-$211.3M-21.5%	-$174.0M+47.6%	-$331.8M-244.0%	-$96.4M	-$16.9M-344.4%	-$3.8M
Investing Cash Flow	-$89.5M	-$55.8M-19.4%	-$46.7M-136.4%	$128.3M+145.0%	-$285.1M-1224.1%	-$21.5M+48.3%	-$41.7M+83.5%	-$253.2M-156.7%	-$98.6M	-$11.8M-1052.7%	-$1.0M
Financing Cash Flow	$125.1M	$131.0M-1.9%	$133.5M+277.6%	-$75.2M-207.2%	$70.2M-45.3%	$128.2M-51.6%	$264.8M+130.9%	$114.7M-81.8%	$631.0M	$12.2M+12.1%	$10.9M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q
Operating Cash Flow	-$16.5M-1133.5%	-$37.3M-191.4%	-$21.9M-280.9%	-$8.5M+79.0%	-$1.3M+96.2%	-$12.8M-141.7%	-$5.8M+62.5%	-$40.7M-33.9%
Stock-Based Compensation	$6.6M+30.3%	N/A	$13.7M+240.1%	$12.3M+69.7%	$5.1M-27.0%	N/A	$4.0M-49.9%	$7.2M-11.8%
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$6.3M-34.8%	$14.4M+51.3%	$5.4M-7.2%
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$19.1M-191.1%	-$20.2M+18.9%	-$46.2M-27.3%
Investing Cash Flow	-$9.3M-137.8%	-$51.2M-478.5%	$28.9M+24400.0%	-$58.0M-440.8%	$24.5M+149.5%	$13.5M-70.0%	-$119K-100.4%	-$10.7M-113.2%
Financing Cash Flow	$14.0M-29.6%	$68.2M+309.7%	-$5.1M-128.4%	$48.1M+25.9%	$19.8M-67.2%	$16.6M+135.4%	$18.1M+265.7%	$38.2M+144.8%

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

TLRY 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.

TLRY quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1710-K	FY1610-K
Gross Margin	28.4%-0.8pp	29.3%+1.0pp	28.3%+4.9pp	23.4%+4.8pp	18.6%+13.8pp	4.8%-48.2pp	53.0%+45.0pp	8.0%	55.4%+34.3pp	21.1%
Operating Margin	-6.9%	-277.9%	-22.1%	-218.4%	-97.1%-57.9pp	-39.2%+35.8pp	-75.0%-42.8pp	-32.3%	-36.5%+19.2pp	-55.8%
Net Margin	-13.3%	-266.3%	-31.1%	-231.6%	-75.9%-23.1pp	-52.8%+26.4pp	-79.2%-41.5pp	-37.8%	-38.0%+24.3pp	-62.4%
Return on Equity	-7.5%+137.2pp	-144.7%-137.6pp	-7.1%+36.7pp	-43.8%-33.0pp	-10.8%-4.8pp	-6.1%+238.2pp	-244.3%-225.5pp	-18.8%	N/A	-311.8%
Return on Assets	-5.2%+100.2pp	-105.4%-99.6pp	-5.8%+27.9pp	-33.7%-25.0pp	-8.8%-4.3pp	-4.5%+33.0pp	-37.5%-30.9pp	-6.6%	-14.5%	N/A
Current Ratio	2.21-0.2x	2.46+0.2x	2.27+0.5x	1.79-1.1x	2.87+0.7x	2.20+0.4x	1.77-0.3x	2.04	0.25	N/A
Debt-to-Equity	0.07-0.3x	0.39+0.2x	0.23-0.1x	0.29+0.3x	0.030.0x	0.04-0.7x	0.72-1.1x	1.84	N/A	N/A
Asset Turnover	0.390.0x	0.40+0.2x	0.190.0x	0.150.0x	0.120.0x	0.09-0.4x	0.47+0.3x	0.18	0.38	N/A
FCF Margin	N/A	-15.5%-7.9pp	-7.6%-5.6pp	-2.1%+31.6pp	-33.6%+0.3pp	-33.9%+47.9pp	-81.9%-28.1pp	-53.8%	-82.3%-52.3pp	-30.1%

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q
Gross Margin	30.1%+2.7pp	32.1%+2.0pp	26.6%-1.4pp	26.4%-2.6pp	27.4%-2.4pp	30.1%-5.7pp	28.0%+1.8pp	29.0%+4.6pp
Operating Margin	-9.3%-10.3pp	-5.8%	-12.8%	-10.2%+9.8pp	1.0%+19.3pp	-643.1%	-409.0%	-20.0%+1.5pp
Net Margin	-16.8%-16.6pp	-17.6%	-12.8%	-20.7%+19.8pp	-0.1%+19.4pp	-566.9%	-424.9%	-40.5%-15.2pp
Return on Equity	-2.7%-2.6pp	-3.1%+81.1pp	-1.7%+27.5pp	-3.0%+0.2pp	0.0%+1.1pp	-84.2%-83.3pp	-29.2%-26.5pp	-3.1%-1.7pp
Return on Assets	-1.8%-1.8pp	-2.1%+59.2pp	-1.3%	-2.2%+0.3pp	0.0%+0.9pp	-61.4%-60.6pp	N/A	-2.5%-1.4pp
Current Ratio	1.88-0.7x	2.21-0.2x	2.79	2.46-0.2x	2.62+0.1x	2.46+0.2x	N/A	2.62+0.4x
Debt-to-Equity	0.07-0.3x	0.07-0.3x	0.35	0.39+0.1x	0.36+0.1x	0.39+0.2x	N/A	0.260.0x
Asset Turnover	0.110.0x	0.120.0x	0.10	0.100.0x	0.10+0.1x	0.11+0.1x	N/A	0.060.0x
FCF Margin	N/A	N/A	N/A	N/A	N/A	-8.5%-17.6pp	-10.9%+2.3pp	-21.9%-3.2pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

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
Tilray Brands, Inc. TLRY	FY2026	$915.5M	-$121.4M	-13.3%	$496.6M	41/100
Amphastar Pharmaceuticals, Inc. AMPH	FY2025	$719.9M	$98.1M	13.6%	$1.1B	70/100
Dynavax Technologies Corporation DVAX	FY2024	$277.2M	$27.3M	9.8%	$1.8B	54/100
Harrow, Inc. HROW	FY2025	$272.3M	-$5.1M	-1.9%	$1.1B	52/100
Pacira BioSciences, Inc. PCRX	FY2025	$726.4M	$7.0M	1.0%	$1.5B	53/100

Where Tilray Brands, Inc. Ranks

Frequently Asked Questions

What is Tilray Brands, Inc.'s annual revenue?

Tilray Brands, Inc. (TLRY) reported $915.5M in total revenue for fiscal year 2026. This represents a 11.5% 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 Tilray Brands, Inc.'s revenue growing?

Tilray Brands, Inc. (TLRY) revenue grew by 11.5% year-over-year, from $821.3M to $915.5M in fiscal year 2026.

Is Tilray Brands, Inc. profitable?

No, Tilray Brands, Inc. (TLRY) reported a net income of -$121.4M in fiscal year 2026, with a net profit margin of -13.3%.

How much debt does Tilray Brands, Inc. have?

As of fiscal year 2026, Tilray Brands, Inc. (TLRY) had $226.0M in cash and equivalents against $120.4M in long-term debt.

What is Tilray Brands, Inc.'s gross margin?

Tilray Brands, Inc. (TLRY) had a gross margin of 28.4% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tilray Brands, Inc.'s operating margin?

Tilray Brands, Inc. (TLRY) had an operating margin of -6.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Tilray Brands, Inc.'s net profit margin?

Tilray Brands, Inc. (TLRY) had a net profit margin of -13.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Tilray Brands, Inc.'s return on equity (ROE)?

Tilray Brands, Inc. (TLRY) has a return on equity of -7.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Tilray Brands, Inc.'s operating cash flow?

Tilray Brands, Inc. (TLRY) recorded an outflow of $69.1M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Tilray Brands, Inc.'s total assets?

Tilray Brands, Inc. (TLRY) had $2.3B in total assets as of fiscal year 2026, including both current and long-term assets.

How much does Tilray Brands, Inc. spend on research and development?

Tilray Brands, Inc. (TLRY) invested $361K in research and development during fiscal year 2026.

How many shares does Tilray Brands, Inc. have outstanding?

Tilray Brands, Inc. (TLRY) had 136M shares outstanding as of fiscal year 2026.

What is Tilray Brands, Inc.'s current ratio?

Tilray Brands, Inc. (TLRY) had a current ratio of 2.21 as of fiscal year 2026, which is generally considered healthy.

What is Tilray Brands, Inc.'s debt-to-equity ratio?

Tilray Brands, Inc. (TLRY) had a debt-to-equity ratio of 0.07 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tilray Brands, Inc.'s return on assets (ROA)?

Tilray Brands, Inc. (TLRY) had a return on assets of -5.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Tilray Brands, Inc.'s P/E ratio?

Tilray Brands, Inc. (TLRY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to August 31, 2026). The market capitalization is $496.6M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tilray Brands, Inc.'s price-to-sales ratio?

Tilray Brands, Inc. (TLRY) trades at 0.5x sales, its market capitalization divided by revenue of $963.1M revenue, trailing 12 months to August 31, 2026. The market capitalization is $496.6M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Tilray Brands, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2026, Tilray Brands, Inc. (TLRY) held $237.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $69.1M over that year. Dividing the one by the other, the reported balance equals about 41 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Tilray Brands, Inc.'s Altman Z-Score?

Tilray Brands, Inc. (TLRY) has an Altman Z-Score of -2.05, 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 Tilray Brands, Inc.'s Piotroski F-Score?

Tilray Brands, Inc. (TLRY) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Tilray Brands, Inc.'s earnings high quality?

Tilray Brands, Inc. (TLRY) reported a net loss of $121.4M while operations used $69.1M of cash. With neither figure positive, 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 Tilray Brands, Inc. cover its interest payments?

Tilray Brands, Inc. (TLRY) reported an operating loss of $63.0M against $29.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.

How financially healthy is Tilray Brands, Inc.?

Tilray Brands, Inc. (TLRY) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.