Verano Holdings (VRNOF), mcap=$1.9bn, price $6.30 vs $9.63

Pitch:
– The operator of cannabis dispensaries across multiple states (MSO).
– Top 5 MSO with one of the best footprints.
– Well positioned for recreational conversion in the North East.
– Cheaper vs peers despite better footprint and margins.
– A strong balance sheet with FCF-funded CAPEX and acquisitions.
– Insiders own 20%.

Valuation:
– Trades at 8.5x ‘22 EBITDA vs peer average of 9.4x.
– Comps include $TRUL, $GTII, $CURA and Cresco.

Exp. gain: Not specified.

Full $VRNOF write-up (free guest account required):
https://www.valueinvestorsclub.com/idea/VERANO_HOLDINGS_CORP/3651508728

Published on: July 28, 2022  •  Published by:
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