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Leef Brands Inc. (LEEEF) fair value: what the stock is really worth

We calculate from audited financials what Leef Brands Inc. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Healthcare · US · Home Canada · ISIN CA52426X2032

LB Leef Brands Inc. logo Thin data Jun 23, 2026

Leef Brands Inc.

LEEEF · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value $0.3655 · Strongly undervalued (+97%)
!Quality 44/100
!Expensive Growth (revenue 5y +42.4 %/yr)
!Loss-making · -52.7% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Mixed vs. peers (3/7)
!Narrow moat 21/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$3.26 $0.0525 Fair Value $0.3655 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range $0.0525 – $3.26 · fair‑value band $0.2805 – $0.4590 · the $0.1851 price screens below the $0.3655 fair value. Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Leef Brands Inc. operates as a cannabis branded products manufacturer in the United States. The company operates through two segments: Wholesale Concentrates and Retail. It is involved in the propagation, nursery, flowering canopy, drying, processing, manufacturing, and distribution of cannabis concentrates; and owns and operates retail cannabis store.

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Leef Brands Inc. operates as a cannabis branded products manufacturer in the United States. The company operates through two segments: Wholesale Concentrates and Retail. It is involved in the propagation, nursery, flowering canopy, drying, processing, manufacturing, and distribution of cannabis concentrates; and owns and operates retail cannabis store. The company was formerly known as Icanic Brands Company Inc. and changed its name to Leef Brands Inc. in December 2022. Leef Brands Inc. is headquartered in Vancouver, Canada.

Stock analysis

Leef Brands Inc. (LEEEF) currently trades at $0.1851, while our model-based Fair Value estimate is $0.3655, implying the stock looks roughly 49.4% undervalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $0.2805 (bear) to $0.4590 (bull), the price of $0.1851 sits below 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 44/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Leef Brands Inc. reported revenue of $34.8M in FY2025 versus $7.9M in FY2021, a compound +45.1%/yr. Reported net income was −$17.6M in FY2025.

Key figures

Market cap $47.7M · P/S ratio 1.41 · EPS (TTM) $−0.1000 · Net margin −50.7% · Return on equity −506% · Return on assets (EBIT) −15.0% · Operating margin 13.7% · Revenue (TTM) $34.8M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 71% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 97%, LEEEF screens cheaper than that median.

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Quality Score breakdown

Overall quality 44/100

Of which business quality 39 · Market factors (momentum, volatility) 43

Profitability 31
Margins and returns on capital today
Quality Growth 93
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.1%
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.
+8.8%
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.
+42.4%
Start year 2020 (pandemic)
Revenue growth 6 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.
+173.9%
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.
−56.6% (2020) → −15.1% (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
not computed

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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 · 628 stocks

Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Below median
Fair Value upside +98% · Top 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −3% · Bottom 25%
Net margin (TTM) −53% · Bottom 25%
Operating margin (TTM) 14% · Above median
Growth and dividend
Revenue growth 0% · Below median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 1.37× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 14
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 27
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 32

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €133.95 €108.70 −19%
Takeda Pharmaceutical Company TAK $18.81 $11.29 −40%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥45.58 ¥50.14 +10%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,865 ₹1,979 +6%
Galderma Group GALD CHF 163.80 CHF 109.88 −33%
Haleon plc HLN $9.25 $8.50 −8%
Teva Pharmaceutical Industries Limited TEVA $39.01 $20.75 −47%
Sandoz Group SDZ CHF 70.76 CHF 40.16 −43%
Zoetis Inc ZTS $71.61 $108.48 +51%
Hansoh Pharmaceutical Group 3692 HK$35.34 HK$38.87 +10%

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Cite: Fair Value Calculator (2026). "Leef Brands Inc. Fair Value". https://www.fairvalue-calculator.com/stock/LEEEF

Frequently asked questions

Is Leef Brands Inc. (LEEEF) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of $0.3655 versus a price of $0.1851, about +97% upside (undervalued).
What is the fair value of LEEEF?
Our model-based fair value for Leef Brands Inc. is $0.3655 (as of Jun 23, 2026), built from audited fundamentals. The current price: $0.1851.
What is the quality score of LEEEF?
Leef Brands Inc. has a Quality Score of 44/100. 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 Leef Brands Inc. (LEEEF)?
Our model-based price target is the fair value of $0.3655 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario $0.2805, optimistic scenario $0.4590. It is a calculation from audited fundamentals, not an analyst target.
What is the Leef Brands Inc. stock forecast for 2026?
Our models put fair value at $0.3655, about +97% upside versus a price of $0.1851 (undervalued). Cautious scenario $0.2805, optimistic scenario $0.4590. The calculation is refreshed regularly with new filings.
What is the revenue of Leef Brands Inc. (LEEEF)?
Leef Brands Inc. reported trailing-twelve-month revenue of about $34.8M (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Leef Brands Inc. (LEEEF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Leef Brands Inc. it is $0.3655 per share (as of Jun 23, 2026), against a price of $0.1851. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Leef Brands Inc. stock overvalued or undervalued in 2026?
As of Jun 23, 2026, LEEEF trades below its calculated fair value: price $0.1851, fair value $0.3655, a gap of about +97% (undervalued). 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 LEEEF?
No. The price is what the market pays today ($0.1851); the fair value is what the company's own numbers justify ($0.3655). For Leef Brands Inc. the two are $0.1804 per share apart. That gap is exactly why we show both numbers side by side.
How much is Leef Brands Inc. worth?
The market values Leef Brands Inc. at about $47.7M (market capitalisation, as of Jun 23, 2026). Per share that is $0.1851; our models calculate a fair value of $0.3655 per share.
What do the bullish and bearish scenarios say about LEEEF?
Our models span a range for Leef Brands Inc.: cautious scenario $0.2805, base $0.3655, optimistic $0.4590 per share (as of Jun 23, 2026, price $0.1851). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Leef Brands Inc. (LEEEF)?
Balance-sheet figures for Leef Brands Inc. (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is LEEEF from its 52-week high?
Leef Brands Inc. trades at $0.1851, about 18% below its 52-week high of $0.2250 and 71% above the low of $0.1080 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.3655 is for.
Which stocks are comparable to Leef 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 Leef Brands Inc. stock attractive at the current price?
The data as of Jun 23, 2026: price $0.1851, calculated fair value $0.3655 (+97%), Quality Score 44/100, from 3 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 LEEEF calculated?
We run Leef Brands Inc. through 3 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 $0.3655, 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 13.0 % above its aggregate fair value. Leef Brands Inc. currently trades 97 % below its own fair value, and the market average says nothing about that. 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 Leef Brands Inc. (LEEEF)?
The closing price on Sep 23, 2026 was $0.1851. Our model-based fair value is $0.3655, about +97% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Leef Brands Inc. right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.2805). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Leef Brands Inc.

How large is the market capitalisation of Leef Brands Inc. (LEEEF)?
The market capitalisation of Leef Brands Inc. is $47.7M. 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 Leef Brands Inc. (LEEEF)?
The price-to-sales ratio of Leef Brands Inc. is 1.41 (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 Leef Brands Inc. (LEEEF)?
Earnings per share at Leef Brands Inc. are $−0.1000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Leef Brands Inc. (LEEEF)?
The net margin of Leef Brands Inc. is −50.7% (fiscal year 2025). 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 Leef Brands Inc. (LEEEF)?
The return on equity (ROE) of Leef Brands Inc. is −506% (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 Leef Brands Inc. (LEEEF)?
On an EBIT basis the return on assets of Leef Brands Inc. is −15.0% (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 Leef Brands Inc. (LEEEF)?
The operating margin of Leef Brands Inc. is 13.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Leef Brands Inc. (LEEEF)?
Revenue at Leef Brands Inc. is growing −0.2% versus a year earlier (3y avg +8.8%). 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 Leef Brands Inc. (LEEEF) generate?
The free cash flow of Leef Brands Inc. is −$1.5M (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 Leef Brands Inc. (LEEEF) carry?
The net debt of Leef Brands Inc. is $8.6M (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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