Verano Holdings Corp Class A Financial Ratios — VRNO Stock

Profitability (USD)

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	-21.42	-9.09	-31.19	-31.14
Return on Assets (%)	- -	423,327.64	-4.51	-12.2	-4.98	-15.85	-13.81
Return on Capital (%)	- -	-46,368.72	-9.51	- -	-20.41	- -	- -
Return on Invested Capital (%)	- -	- -	-7.3	- -	-17.36	- -	- -
Gross Margin (%)	- -	59.32	44.86	48.11	50.64	50.53	50.33
EBITDA Margin (%)	- -	45.01	21.81	-1.23	25.19	-9.82	3.54
Operating Margin (%)	- -	40.39	8.14	7.56	15.27	10.3	9.27
Incremental Operating Margin (%)	- -	40.42	- -	6.41	130.06	88.12	25.14
Pretax Margin (%)	- -	36.08	6.64	-18.58	2.96	-34.14	-20.23
Profit Margin (%)	- -	16.8	-7.79	-30.61	-12.5	-38.91	-31.39
Net Income to Common Margin (%)	- -	16.8	-7.79	-30.61	-12.5	-38.91	-31.39
Effective Tax Rate (%)	- -	51.3	212.26	- -	522.15	- -	- -
Dvd Payout Ratio (%)	- -	0.11	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	-21.42	-9.09	-31.19	-31.14

Credit (USD)

Credit Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	280	499	543	523	503
ST Debt	- -	- -	16	33	62	29	20
LT Debt	- -	- -	263	465	481	494	483
Total Debt/EBITDA	-0.96	- -	2.19	-46.15	2.3	-6.06	17.3
Net Debt/EBITDA	-0.95	- -	1.19	-30.37	1.15	-3.78	10.91
Total Debt/EBIT	-0.96	- -	5.46	-3.1	6.4	-2.21	-4.69
Net Debt/EBIT	-0.95	- -	2.95	-2.04	3.19	-1.37	-2.96
EBITDA to Interest Expense	-10.28	13.83	6.63	-0.22	3.95	-1.58	0.54
EBITDA-CapEx/Interest Expense	-10.28	4.8	0.47	-2.63	3.35	-3.39	-0.23
EBIT to Interest Expense	-10.28	12.41	2.48	1.35	2.4	1.65	1.42
Interest Expense	- -	6	19	49	60	55	54
Common Equity/Total Assets	-3,252.51	-1,374.66	58.09	55.99	53.48	47.75	40.43
Long-Term Debt/Equity (%)	- -	- -	22.47	34.69	38.79	51.91	68.76
Long-Term Debt/Capital (%)	- -	- -	18.14	25.29	26.98	33.49	40.07
Long-Term Debt/Total Assets (%)	- -	- -	13.06	19.42	20.75	24.75	27.73
Total Debt/Equity (%)	-70.41	-30.41	23.84	37.18	43.77	55	71.59
Total Debt/Capital (%)	-238	-43.7	19.25	27.1	30.44	35.49	41.72
Total Debt/Total Assets (%)	2,290.22	418.02	13.86	20.82	23.41	26.23	28.87
Net Debt to Equity	-69.25	-27.29	12.88	24.46	21.84	34.29	45.13
Net Debt/Capital (%)	-225.18	-37.54	10.99	18.69	16.84	23.52	28.24
EBITDA	- -	81	127	-11	236	-86	29
EBITDA-CapEx	- -	28	9	-130	200	-185	-12
Operating Income (Loss)	- -	73	48	66	143	91	76

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.01	0.03	0.21	0.22	0.42	0.43	0.59
Current Ratio	0.03	0.07	0.59	0.82	0.96	1.79	2.88
Quick Ratio	0.03	0.07	0.25	0.26	0.52	0.66	0.9
CFO/Avg Current Liab	- -	458.45	0.78	0.25	0.27	0.36	0.31
Common Equity/Total Assets	-3,252.51	-1,374.66	58.09	55.99	53.48	47.75	40.43
Long-Term Debt/Equity (%)	- -	- -	22.47	34.69	38.79	51.91	68.76
Long-Term Debt/Capital (%)	- -	- -	18.14	25.29	26.98	33.49	40.07
Long-Term Debt/Total Assets (%)	- -	- -	13.06	19.42	20.75	24.75	27.73
Total Debt/Equity (%)	-70.41	-30.41	23.84	37.18	43.77	55	71.59
Total Debt/Capital (%)	-238	-43.7	19.25	27.1	30.44	35.49	41.72
Total Debt/Total Assets (%)	2,290.22	418.02	13.86	20.82	23.41	26.23	28.87
CFO/Total Liabilities	-64.69	30,840.57	17.14	8.95	10.17	10.75	5.09
CFO/CapEx	- -	1.07	1.22	0.79	3.02	1.13	1.28
Altman's Z-Score	- -	- -	3.4	1.17	1.63	0.52	0.2

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	- -	57.94	33.78	22.17	23.08
Days Sales Outstanding	- -	- -	- -	6.3	10.8	16.46	15.82
Inventory Turnover	- -	- -	- -	3.31	3.04	2.67	1.97
Days Inventory Outstanding	- -	- -	- -	110.32	120.24	136.52	185.37
Accounts Payable Turnover	- -	- -	- -	13.37	12.24	13.44	11.53
Accounts Payable Turnover Days	- -	- -	- -	27.31	29.81	27.16	31.66
Cash Conversion Cycle	- -	- -	- -	89.31	101.23	125.82	169.53
Inventory to Cash Days	- -	- -	- -	-104.02	-109.44	-120.06	-169.55
Inventories	- -	- -	111	165	141	184	230
Raw Materials	- -	- -	5	7	5	4	5
Work In Process	- -	- -	76	123	107	135	162
Finished Goods	- -	- -	31	34	28	35	50
Other Inventory	- -	- -	- -	- -	- -	10	13

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	3,689	1,019	1,541	434	458
- Cash & Cash Equivalents	- -	- -	78	85	175	88	83
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	1	- -	- -	-1	-2
+ Total Debt	- -	- -	280	499	543	523	503
Enterprise Value	- -	- -	3,891	1,433	1,909	868	876
Total Capital	- -	- -	1,452	1,840	1,783	1,474	1,205
Total Debt/Capital (%)	-238	-43.7	19.25	27.1	30.44	35.49	41.72
Total Debt / EV	- -	- -	0.07	0.35	0.28	0.6	0.57
EV/Sales	- -	- -	6.66	1.63	2.03	0.99	1.07
EV/EBITDA	- -	- -	30.55	- -	8.08	- -	30.15
EV/EBIT	- -	- -	75.98	- -	22.52	- -	- -
EV/Cash Flow to Firm	- -	- -	31.59	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	821.33	- -	- -	- -	- -
Diluted Market Cap	- -	- -	4,080	1,061	1,536	423	455
Diluted Enterprise Value	- -	- -	4,282	1,475	1,904	857	873
EV per Share	- -	- -	66.35	21.94	27.75	12.1	12.06
TTM Sales	- -	180	584	879	938	879	822
TTM EBITDA	- -	81	127	-11	236	-86	29
TTM Operating Income	- -	73	48	66	143	91	76
TTM Cash Flow to Firm	- -	59	123	- -	-143	- -	- -
TTM Free Cash Flow to Firm	- -	6	5	- -	-179	- -	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	155.15	-42.73	20.93	32.17	39.1
EV/EBIT	- -	- -	75.98	- -	22.52	- -	- -
Enterprise Value	- -	- -	3,891	1,433	1,909	868	876
Low Price	- -	- -	49.3	12.9	12.65	5.6	2.05
EV/Sales	- -	- -	6.66	1.63	2.03	0.99	1.07
EV/EBITDA	- -	- -	30.55	- -	8.08	- -	30.15
Price/Earnings	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	3.15	0.76	1.24	0.46	0.65
Price/Book Value Average	- -	- -	3.83	1.79	0.94	1.5	0.5
Price/Book Value High	- -	- -	7.01	3.39	1.53	2.67	1.01
Price/Book Value Low	- -	- -	2.47	0.63	0.7	0.42	0.21
Price/Tangible Book Value	- -	- -	-17.43	-9.41	-19.93	-15.47	-12.73
Price/Tangible Book Value Average	- -	- -	-21.19	-22.16	-15.1	-50.85	-9.86
Price/Tangible Book Value High	- -	- -	-38.78	-42.04	-24.47	-90.51	-19.71
Price/Tangible Book Value Low	- -	- -	-13.66	-7.78	-11.25	-14.32	-4.14
Price/Sales	- -	- -	6.99	1.21	1.64	0.48	0.55
Price/Sales Average	- -	- -	8.5	2.84	1.24	1.58	0.43
Price/Sales High	- -	- -	15.55	5.39	2.01	2.82	0.86
Price/Sales Low	- -	- -	5.48	1	0.92	0.45	0.18
Price/Cash Flow	- -	- -	28.19	11.24	14	3.77	8.6
Price/Cash Flow Average	- -	- -	34.29	26.48	10.6	12.39	6.66
Price/Cash Flow High	- -	- -	62.75	50.23	17.19	22.06	13.32
Price/Cash Flow Low	- -	- -	22.1	9.3	7.9	3.49	2.8
Price/Free Cash Flow Average	- -	- -	188.69	-100.62	15.86	105.77	30.29
Price/Free Cash Flow High	- -	- -	345.32	-190.9	25.7	188.26	60.52
Price/Free Cash Flow Low	- -	- -	121.6	-35.33	11.82	29.78	12.72
EV/Sales Average	- -	- -	8.03	3.2	1.64	2.12	0.94
EV/Sales High	- -	- -	14.41	5.65	2.41	3.38	1.37
EV/Sales Low	- -	- -	5.3	1.43	1.32	0.95	0.69
EV/EBITDA Average	- -	- -	36.81	- -	6.5	- -	26.6
EV/EBITDA High	- -	- -	66.05	- -	9.56	- -	38.77
EV/EBITDA Low	- -	- -	24.29	- -	5.24	- -	19.52
EV/EBIT Average	- -	- -	91.55	- -	18.12	- -	- -
EV/EBIT High	- -	- -	164.28	- -	26.67	- -	- -
EV/EBIT Low	- -	- -	60.41	- -	14.61	- -	- -
Last Price	- -	- -	62.9	15.6	22.4	6.05	6.3
High Price	- -	- -	140	69.7	27.51	35.4	9.75
Enterprise Value Average	- -	- -	4,688	2,814	1,536	1,861	773
Enterprise Value High	- -	- -	8,412	4,967	2,261	2,974	1,127
Enterprise Value Low	- -	- -	3,093	1,257	1,239	836	567

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	25	25	59	65	69	72	73
Diluted Weighted Avg Shares	58	58	65	68	69	70	72
Basic Weighted Avg Shares	58	58	65	68	69	70	72
Revenue per Share	- -	3.09	9	12.93	13.69	12.57	11.38
EBITDA per Share	- -	1.39	1.96	-0.16	3.45	-1.23	0.4
Operating Income per Share	- -	1.25	0.73	0.98	2.09	1.29	1.06
Basic EPS, GAAP	- -	0.52	-0.7	-3.96	-1.71	-4.89	-3.57
Basic EPS from Cont Ops	- -	0.54	-0.67	-3.95	-1.71	-4.89	-3.57
Diluted EPS, GAAP	- -	0.52	-0.7	-3.96	-1.71	-4.89	-3.57
Diluted EPS from Cont Ops	- -	0.54	-0.67	-3.95	-1.71	-4.89	-3.57
Dividend per Share	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	0.97	2.23	1.39	1.6	1.6	0.73
Free Cash Flow per Basic Share	- -	0.06	0.41	-0.37	1.07	0.19	0.16
Cash & Equivalents per Share	- -	- -	1.34	1.3	2.54	1.22	1.14
Book Value per Share	- -	-0.01	19.98	20.54	18.02	13.27	9.69
Tangible Book Value per Share	- -	-0.01	-3.61	-1.66	-1.12	-0.39	-0.49