Trulieve Cannabis Corp (TCNNF) Fair Value & Analysis

Healthcare · US · Market cap $2.0B

A solid business, screening 53% undervalued on our models.

What matters now

• The price is below even our cautious bear case ($9.71). The market is more pessimistic than our downside scenario.
• Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range $3.23 – $43.35 · fair‑value band $9.71 – $17.13 · the $8.79 price screens below the $13.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

Full chart & analysis →

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Analysis

Trulieve Cannabis Corp (TCNNF) currently trades at $8.79, while our model-based Fair Value estimate is $13.42, implying the stock looks roughly 52.7% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Trulieve Cannabis Corp generated revenue of $1.2B at a net margin of -6.9%. Revenue declined 3.7% year over year. It earns a return on equity of -6.9%. Net debt stands at $241M. Fundamentals as of Jul 25, 2026

Our scenario range runs from $9.71 (bear case) to $17.13 (bull case); at $8.79, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 170% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 53%, TCNNF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models ($24.99) versus Earnings-Based ($4.13). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Trulieve Cannabis Corp. operates as a cannabis retailer in the United States. The company cultivates, processes, and manufactures cannabis products and distributes its products to its dispensaries, as well as through home delivery.

Full company description

Trulieve Cannabis Corp. operates as a cannabis retailer in the United States. The company cultivates, processes, and manufactures cannabis products and distributes its products to its dispensaries, as well as through home delivery. It sells flowers, edibles, vapes, oral, topical, concentrates, and accessories under the Avenue, Cultivar Collection, Muse, Modern Flower, Alchemy, Momenta, Sweet Talk, Co2lors, and Roll One brands. The company operates dispensaries in Florida, Arizona, Georgia, Ohio, Maryland, West Virginia, Connecticut, and Pennsylvania. It operates cultivation and processing facilities in Arizona, Colorado, Florida, Georgia, Maryland, Pennsylvania, and West Virginia. The company also offers medical cannabis dispensary in North Miami Beach, Florida. Trulieve Cannabis Corp. was formerly known as Schyan Exploration Inc./Exploration Schyan Inc. and changed its name to Trulieve Cannabis Corp. in September 2018. Trulieve Cannabis Corp. was incorporated in 1940 and is headquartered in Tallahassee, Florida.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Trulieve Cannabis Corp reported revenue of $1.2B in FY2025 versus $938M in FY2021, a compound +5.9%/yr. Reported net income was −$116M in FY2025.

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Peer Group

Drug Manufacturers - Specialty & Generic · 626 stocks

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.

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

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.