Tilray Brands, Inc. (2HQ0) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Tilray Brands, Inc. €0.77, price €3.65, upside -78.8%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
42‑month range €3.17 – €30.12 · fair‑value band €0.5100 – €0.9690 · the €3.65 price screens above the €0.7735 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Tilray Brands, Inc., a lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally. The company operates through four segments: Beverage, Cannabis, Distribution, and Wellness.
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Tilray Brands, Inc., a lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally. The company operates through four segments: Beverage, Cannabis, Distribution, and Wellness. It also offers medical and adult-use cannabis products; resells and distributes pharmaceutical and wellness products; and produces, markets, and sells beverage products, and hemp-based food products. In addition, the company provides entertainment products. It offers its products under the Tilray, Aphria, Broken Coast, Symbios, Navcora, Tilray Craft, Charlotte's Web, Montauk Brewing, Shock Top, 10 Barrell, Breckenridge Brewery, SweetWater Brewing, Breckenridge Distillery, Blue Point Brewing, Broken Coast, Redecan, XMG, Manitoba Harvest, CC Pharma, Good Supply, Solei, Mollo, Chowie Wowie, Original Stash, Canaca, RIFF, Tilray Medical, Bake Sale, The Batch, HEXO, Alpine Beer Company, Green Flash, Cruisies, Atwater Brewery, Hiball Energy, Liquid Love, Hop Valley Brewing, Redhook Brewery, Revolver Brewing, Square Mile Cider, Mock One, Widmer Brothers Brewing, Runner's High Brewing Company, SweetWater Brewing Company, Terrapin Beer Co., Happy Flower, Fizzy Jane's, Herb & Bloom, 420 Fizz, and Fresh Hemp Foods brands. The company sells its products to retailers, wholesalers, patients, physicians, hospitals, pharmacies, researchers, and governments, as well as direct to consumers. The company was formerly known as Tilray, Inc. and changed its name to Tilray Brands, Inc. in January 2022. Tilray Brands, Inc. is headquartered in Leamington, Canada.
Stock analysis
Tilray Brands, Inc. (2HQ0) currently trades at €3.65, while our model-based Fair Value estimate is €0.7735, implying the stock looks roughly 371.9% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 89/100, which puts the evidence level at low.
Scenario range: €0.5100 (bear) to €0.9690 (bull), the price of €3.65 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 29/100 (below-average quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Tilray Brands, Inc. reported revenue of $821M in FY2025 versus $628M in FY2022, a compound +9.3%/yr. Reported net income was −$2.2B in FY2025.
Key figures
Market cap €472M · P/S ratio 0.67 · EPS (TTM) €−12.56 · Net margin −157% · Return on equity −63.2% · Return on assets (EBIT) −39.3% · Operating margin −52.7% · Revenue (TTM) €858M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 76% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −79%, 2HQ0 screens richer than that median.
Fair Value models
Bear €0.5100Fair Value €0.7735Bull €0.9690
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−97.1% (2022) → −277.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 612 stocks
Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score29 · Bottom 25%
Fair Value upside−79% · Bottom 25%
Profitability
Return on assets−1% · Bottom 25%
Net margin (TTM)−157% · Bottom 25%
Operating margin (TTM)−53% · Bottom 25%
Growth and dividend
Revenue growth−8% · Bottom 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
P/B0.36× · Cheapest 25%
P/S (TTM)0.63× · Cheapest 25%
EV/EBITDA31.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 12
FUTURE (revenue growth)0· sector 21
PAST (return on equity)0· sector 25
HEALTH (low debt)92· sector 96
DIVIDEND (yield)0· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tilray Brands, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/2HQ0
Frequently asked questions
Is Tilray Brands, Inc. (2HQ0) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €0.7735 versus a price of €3.65, about −79% upside (overvalued).
What is the fair value of 2HQ0?
Our model-based fair value for Tilray Brands, Inc. is €0.7735 (as of Sep 23, 2026), built from audited fundamentals. The current price: €3.65.
What is the quality score of 2HQ0?
Tilray Brands, Inc. has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tilray Brands, Inc. (2HQ0)?
Our model-based price target is the fair value of €0.7735 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario €0.5100, optimistic scenario €0.9690. It is a calculation from audited fundamentals, not an analyst target.
What is the Tilray Brands, Inc. stock forecast for 2026?
Our models put fair value at €0.7735, about −79% upside versus a price of €3.65 (overvalued). Cautious scenario €0.5100, optimistic scenario €0.9690. The calculation is refreshed regularly with new filings.
What is the revenue of Tilray Brands, Inc. (2HQ0)?
Tilray Brands, Inc. reported trailing-twelve-month revenue of about €858M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Tilray Brands, Inc. (2HQ0)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tilray Brands, Inc. it is €0.7735 per share (as of Sep 23, 2026), against a price of €3.65. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Tilray Brands, Inc. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 2HQ0 trades above its calculated fair value: price €3.65, fair value €0.7735, a gap of about −79% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2HQ0?
No. The price is what the market pays today (€3.65); the fair value is what the company's own numbers justify (€0.7735). For Tilray Brands, Inc. the two are €2.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tilray Brands, Inc. worth?
The market values Tilray Brands, Inc. at about €472M (market capitalisation, as of Sep 23, 2026). Per share that is €3.65; our models calculate a fair value of €0.7735 per share.
What do the bullish and bearish scenarios say about 2HQ0?
Our models span a range for Tilray Brands, Inc.: cautious scenario €0.5100, base €0.7735, optimistic €0.9690 per share (as of Sep 23, 2026, price €3.65). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tilray Brands, Inc. (2HQ0)?
Balance-sheet figures for Tilray Brands, Inc. (as of Sep 23, 2026): return on equity −63.2%, debt of 0.16 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is 2HQ0 from its 52-week high?
Tilray Brands, Inc. trades at €3.65, about 76% below its 52-week high of €15.33 and 9% above the low of €3.36 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €0.7735 is for.
Which stocks are comparable to Tilray Brands, Inc.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tilray Brands, Inc. stock attractive at the current price?
The data as of Sep 23, 2026: price €3.65, calculated fair value €0.7735 (−79%), Quality Score 29/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2HQ0 calculated?
We run Tilray Brands, Inc. through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €0.7735, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Tilray Brands, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tilray Brands, Inc. (2HQ0)?
The closing price on Sep 23, 2026 was €3.65. Our model-based fair value is €0.7735, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tilray Brands, Inc. right now?
The price sits above even our optimistic bull case (€0.9690). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€0.5100 to €0.9690) leaves room in how you read the outcome.
Key figures of Tilray Brands, Inc.
How large is the market capitalisation of Tilray Brands, Inc. (2HQ0)?
The market capitalisation of Tilray Brands, Inc. is €472M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tilray Brands, Inc. (2HQ0)?
The price-to-sales ratio of Tilray Brands, Inc. is 0.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tilray Brands, Inc. (2HQ0)?
Earnings per share at Tilray Brands, Inc. are €−12.56. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tilray Brands, Inc. (2HQ0)?
The net margin of Tilray Brands, Inc. is −157% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tilray Brands, Inc. (2HQ0)?
The return on equity (ROE) of Tilray Brands, Inc. is −63.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tilray Brands, Inc. (2HQ0)?
On an EBIT basis the return on assets of Tilray Brands, Inc. is −39.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tilray Brands, Inc. (2HQ0)?
The operating margin of Tilray Brands, Inc. is −52.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tilray Brands, Inc. (2HQ0)?
Revenue at Tilray Brands, Inc. is growing −7.8% versus a year earlier (3y avg +9.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Tilray Brands, Inc. (2HQ0) generate?
The free cash flow of Tilray Brands, Inc. is −€128M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tilray Brands, Inc. (2HQ0) carry?
The net debt of Tilray Brands, Inc. is €107M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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