C21 Investments Inc (CXXIF) fair value: what the stock is really worth
As of Aug 21, 2026: fair value of C21 Investments Inc $0.23, price $0.26, upside -13.1%, quality 52 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 28, 2026.
How to read this chart
60‑month range $0.1230 – $1.24 · fair‑value band $0.1300 – $0.3800 · the $0.2647 price screens above the $0.2300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
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C21 Investments Inc., an integrated cannabis company, cultivates, processes, distributes, and sells cannabis and hemp-derived consumer products in the United States.
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C21 Investments Inc., an integrated cannabis company, cultivates, processes, distributes, and sells cannabis and hemp-derived consumer products in the United States. The company offers CO2, live resin, distillate, CBD cured resin, and CBD CO2 vaporizer pens; live, cured, and CBD cured resin extracts; bulk and packaged flowers; edibles; pre-rolls; tinctures; and topicals. It also provides payroll and benefits services. The company was formerly known as Curlew Lake Resources Inc. and changed its name to C21 Investments Inc. in November 2017. C21 Investments Inc. was incorporated in 1987 and is headquartered in Vancouver, Canada.
Stock analysis
C21 Investments Inc (CXXIF) currently trades at $0.2647, while our model-based Fair Value estimate is $0.2300, 13.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $0.3500 per share, and 9 of the 13 models we run sit above the $0.2647 price.
Bear case: the Earnings-Based group reads lowest at $0.1000, and 4 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.1300 (bear) to $0.3800 (bull), the price of $0.2647 sits inside 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 52/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
C21 Investments Inc reported revenue of $32.6M in FY2026 versus $33.0M in FY2022, a compound −0.3%/yr. Reported net income was −$3.2M in FY2026.
Key figures
Market cap $31.2M · P/S ratio 0.88 · EPS (TTM) $−0.0300 · Net margin −9.9% · Return on equity −12.0% · Return on assets (EBIT) 6.3% · Operating margin 6.4% · Revenue (TTM) $32.6M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 43% below its 52-week high and 49% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at −13%, CXXIF screens cheaper than that median.
Fair Value models
Bear $0.1300Fair Value $0.2300Bull $0.3800
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.12/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.3%
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.
+4.1%
Revenue growth 5 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.
−2.0%
Start year 2021 (pandemic)
Revenue growth 7 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.
+43.6%
’19
’20
’21
’22
’23
’24
’25
’26
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.
−3.2% (2020) → 7.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +18.7% a year for the price.
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 · 569 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−13.1% · Above median
Profitability
Return on assets2.6% · Below median
Net margin (TTM)−10.0% · Bottom 25%
Operating margin (TTM)6.4% · Below median
Growth and dividend
Revenue growth−8.1% · Bottom 25%
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
P/B1.23× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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.
Is C21 Investments Inc (CXXIF) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of $0.2300 versus the last price from Aug 21, 2026 of $0.2647, about −13% upside (overvalued).
What is the fair value of CXXIF?
Our model-based fair value for C21 Investments Inc is $0.2300 (as of Sep 28, 2026), built from audited fundamentals. Last price (from Aug 21, 2026): $0.2647.
What is the quality score of CXXIF?
C21 Investments Inc has a Quality Score of 52/100. 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 C21 Investments Inc (CXXIF)?
Our model-based price target is the fair value of $0.2300 (as of Sep 28, 2026) from 13 valuation models. Cautious scenario $0.1300, optimistic scenario $0.3800. It is a calculation from audited fundamentals, not an analyst target.
What is the C21 Investments Inc stock forecast for 2026?
Our models put fair value at $0.2300, about −13% upside versus the last price from Aug 21, 2026 of $0.2647 (overvalued). Cautious scenario $0.1300, optimistic scenario $0.3800. The calculation is refreshed regularly with new filings.
What is the revenue of C21 Investments Inc (CXXIF)?
C21 Investments Inc reported trailing-twelve-month revenue of about $32.6M (latest available figure, as of Sep 28, 2026).
What growth is priced into C21 Investments Inc (CXXIF)?
For today's price to be fair in a discounted-cash-flow model, C21 Investments Inc would have to grow free cash flow by +21.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.0 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of CXXIF use?
Our models discount C21 Investments Inc at 11.8 %: a base by market capitalisation (nano), damped by beta 1.85, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For C21 Investments Inc that is +21.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has C21 Investments Inc (CXXIF) delivered so far?
Over the past 5 years revenue at C21 Investments Inc grew -2.0 % a year. The price currently implies +21.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of C21 Investments Inc (CXXIF) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into C21 Investments Inc (+21.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of C21 Investments Inc (CXXIF)?
The free-cash-flow yield on the price is 3.56 %: that much free cash flow C21 Investments Inc produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of C21 Investments Inc (CXXIF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For C21 Investments Inc it is $0.2300 per share (as of Sep 28, 2026), against a price of $0.2647. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is C21 Investments Inc stock overvalued or undervalued in 2026?
As of Sep 28, 2026, CXXIF trades above its calculated fair value: price $0.2647, fair value $0.2300, a gap of about −13% (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 CXXIF?
No. The price is what the market pays today ($0.2647); the fair value is what the company's own numbers justify ($0.2300). For C21 Investments Inc the two are $0.0347 per share apart. That gap is exactly why we show both numbers side by side.
How much is C21 Investments Inc worth?
The market values C21 Investments Inc at about $31.2M (market capitalisation, as of Sep 28, 2026). Per share that is $0.2647; our models calculate a fair value of $0.2300 per share.
What do the bullish and bearish scenarios say about CXXIF?
Our models span a range for C21 Investments Inc: cautious scenario $0.1300, base $0.2300, optimistic $0.3800 per share (as of Sep 28, 2026, price $0.2647). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of C21 Investments Inc (CXXIF)?
Balance-sheet figures for C21 Investments Inc (as of Sep 28, 2026): return on equity −12.0%, debt of 0.07 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is CXXIF from its 52-week high?
C21 Investments Inc trades at $0.2647, about 43% below its 52-week high of $0.4630 and 49% above the low of $0.1780 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2300 is for.
Which stocks are comparable to C21 Investments Inc?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, 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 C21 Investments Inc stock attractive at the current price?
The data as of Sep 28, 2026: price $0.2647, calculated fair value $0.2300 (−13%), Quality Score 52/100, from 13 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 CXXIF calculated?
We run C21 Investments Inc through 13 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 $0.2300, 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 14.5 % above its aggregate fair value. C21 Investments 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 C21 Investments Inc (CXXIF)?
The latest price we hold is from Aug 21, 2026 and stands at $0.2647. Our model-based fair value is $0.2300, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with C21 Investments Inc right now?
The model range is unusually wide ($0.1300 to $0.3800). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of C21 Investments Inc
How large is the market capitalisation of C21 Investments Inc (CXXIF)?
The market capitalisation of C21 Investments Inc is $31.2M. 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 C21 Investments Inc (CXXIF)?
The price-to-sales ratio of C21 Investments Inc is 0.88 (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 C21 Investments Inc (CXXIF)?
Earnings per share at C21 Investments Inc are $−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of C21 Investments Inc (CXXIF)?
The net margin of C21 Investments Inc is −9.9% (fiscal year 2026). 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 C21 Investments Inc (CXXIF)?
The return on equity (ROE) of C21 Investments Inc is −12.0% (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 C21 Investments Inc (CXXIF)?
On an EBIT basis the return on assets of C21 Investments Inc is 6.3% (avg 5y). 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 C21 Investments Inc (CXXIF)?
The operating margin of C21 Investments Inc is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at C21 Investments Inc (CXXIF)?
Revenue at C21 Investments Inc is growing −8.1% versus a year earlier (3y avg +4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at C21 Investments Inc (CXXIF)?
Earnings per share at C21 Investments Inc are growing −91.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does C21 Investments Inc (CXXIF) carry?
The net debt of C21 Investments Inc is $1.4M (fiscal year 2025, ≈ 1.2 yrs of FCF). 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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Thin data
Sep 28, 2026