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Data-driven stock valuation

Tilray Brands, Inc. (TLRY) fair value: what the stock is really worth

As of Oct 29, 2026: fair value (intrinsic value) of Tilray Brands, Inc. stock $0.45, price $2.64, upside -82.9%, quality 32 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Healthcare US · Based in Canada

TB Tilray Brands, Inc. logo Thin data Oct 30, 2026

Tilray Brands, Inc.

TLRY · US
Very expensive, weak quality

Our calculation puts a fair price 83% below what the stock costs today.

Low debt
Revenue last quarter +23% vs. a year ago.
Expensive Growth (revenue 5y +8.1 %/yr in USD)
Insider activity 46/100
Fair value $0.4505 · Strongly overvalued (−82.9%)
Quality 32/100
Loss-making · -17.1% net margin (TTM)
Negative free cash flow
Trails peers (3/12)
Narrow moat 12/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

$154.20 $2.64 Fair Value $0.4505 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.

How to read this chart

60‑month range $2.64 – $154.20 · fair‑value band $0.2975 – $0.5610 · the $2.64 price screens above the $0.4505 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.

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Company profile

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.

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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, Shock Top, Montauk Brewing, 10 Barrell, Breckenridge Brewery, SweetWater Brewing, Breckenridge Distillery, Blue Point, Alpine, 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, Cruisies, Atwater Brewery, Hi-ball 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 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. (TLRY) currently trades at $2.64, while our model-based Fair Value estimate is $0.4505, 82.9% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the data coverage at low.

Scenario range: $0.2975 (bear) to $0.5610 (bull), the price of $2.64 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 32/100 (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 $915M in FY2026 versus $792M in FY2022, a compound +3.7%/yr. Reported net income was −$123M in FY2026.

Key figures

Market cap $398M Small · P/S ratio 0.41 · EPS (TTM) $−1.41 · Dividend yield 0.4% · Net margin −17.1% · Return on equity −9.4% · Return on assets (EBIT) −31.4% · Operating margin −6.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 81% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −24% fair-value upside, at −83%, TLRY screens richer than that median.

Fair Value models

Bear $0.2975 Fair Value $0.4505 Bull $0.5610
Price $2.64 · Upside -82.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) $0.3500 $0.5300 $0.6600 55
All 1 models by family
Asset-Based
NCAV (Graham) $0.3500 $0.5300 $0.6600 55

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 32/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 59
Are margins and returns getting better?
Cashflow 1
Do the profits arrive as real cash?
Financial strength 56
Debt, balance sheet and risk of trouble
Investment 97
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 0
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

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. 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−18.8%
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.
+2.7%
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.
+8.1%
Start year 2021 (pandemic). Over 10 years: +68.5% a year
Revenue growth 11 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.
+104.2%
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.
−25.8% (2021) → −6.9% (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

TLRY screens overvalued: fair value 83% below the price. Compare with Merck KGaA →

Earlier news

News mood ⓘNews mood, the average tone of recent news (87 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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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 · 577 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −82.9% · Bottom 25%
Profitability
Return on assets −5.3% · Bottom 25%
Net margin (12 months) −17.1% · Bottom 25%
Operating margin (12 months) −6.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 22.7% · Top 25%
Dividend yield (12 months) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.12× · Above median

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

P/B 0.25× · Cheapest 25%
P/S (12 months) 0.41× · Cheapest 25%
EV/EBITDA 29.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 20
FUTURE (revenue growth)100 · sector 26
PAST (return on equity)0 · sector 28
HEALTH (low debt)94 · sector 96
DIVIDEND (yield)8 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Compare
Zoetis Inc ZTS $78.23 $110.26 +41% vs TLRY
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥48.62 ¥53.48 +10% vs TLRY
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,751 ₹1,926 +10% vs TLRY
Haleon plc HLN $10.20 $8.54 −16% vs TLRY
Merck KGaA MRK €144.50 €109.18 −24% vs TLRY
Galderma Group GALD CHF 185.00 CHF 111.00 −40% vs TLRY
Takeda Pharmaceutical Company TAK $20.43 $11.37 −44% vs TLRY
Teva Pharmaceutical Industries Limited TEVA $39.95 $20.82 −48% vs TLRY
Sandoz Group SDZ CHF 79.88 CHF 40.33 −50% vs TLRY
Divi's Laboratories Limited DIVISLAB ₹9,506 ₹1,871 −80% vs TLRY

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Tilray Brands, Inc. · Fair Value
$0.4505 −83%Fair Value
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Cite: Fair Value Calculator (2026). "Tilray Brands, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/TLRY

Frequently asked questions

Is Tilray Brands, Inc. (TLRY) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of $0.4505 versus a price of $2.64, about −83% upside (overvalued).
What is the fair value of TLRY?
Our model-based fair value for Tilray Brands, Inc. is $0.4505 (as of Oct 30, 2026), built from audited fundamentals. The current price: $2.64.
What is the quality score of TLRY?
Tilray Brands, Inc. has a Quality Score of 32/100. 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. (TLRY)?
Our model-based price target is the fair value of $0.4505 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario $0.2975, optimistic scenario $0.5610. 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 $0.4505, about −83% upside versus a price of $2.64 (overvalued). Cautious scenario $0.2975, optimistic scenario $0.5610. The calculation is refreshed regularly with new filings.
What is the revenue of Tilray Brands, Inc. (TLRY)?
Tilray Brands, Inc. reported trailing-twelve-month revenue of about $963M (latest available figure, as of Oct 30, 2026).
Does Tilray Brands, Inc. pay a dividend?
Tilray Brands, Inc. currently shows a dividend yield of 0.39% relative to its recent price (as of Oct 30, 2026).
What is the intrinsic value of Tilray Brands, Inc. (TLRY)?
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 $0.4505 per share (as of Oct 30, 2026), against a price of $2.64. 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 Oct 30, 2026, TLRY trades above its calculated fair value: price $2.64, fair value $0.4505, a gap of about −83% (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 TLRY?
No. The price is what the market pays today ($2.64); the fair value is what the company's own numbers justify ($0.4505). For Tilray Brands, Inc. the two are $2.19 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 $398M (market capitalisation, as of Oct 30, 2026). Per share that is $2.64; our models calculate a fair value of $0.4505 per share.
What do the bullish and bearish scenarios say about TLRY?
Our models span a range for Tilray Brands, Inc.: cautious scenario $0.2975, base $0.4505, optimistic $0.5610 per share (as of Oct 30, 2026, price $2.64). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tilray Brands, Inc. (TLRY)?
Balance-sheet figures for Tilray Brands, Inc. (as of Oct 30, 2026): return on equity −9.4%, debt of 0.12 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is TLRY from its 52-week high?
Tilray Brands, Inc. trades at $2.64, about 81% below its 52-week high of $13.94 and at the low of $2.64 (as of Oct 29, 2026). Distance from the high says nothing about value: that is what the fair value of $0.4505 is for.
Which stocks are comparable to Tilray Brands, Inc.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Galderma Group, Jiangsu Hengrui Pharmaceuticals Co, 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 Oct 30, 2026: price $2.64, calculated fair value $0.4505 (−83%), Quality Score 32/100, 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 TLRY 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 $0.4505, 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 13.1 % 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. (TLRY)?
The closing price on Oct 29, 2026 was $2.64. Our model-based fair value is $0.4505, about −83% 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 ($0.5610). The favourable scenario is already priced in. Weak quality (32/100) 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 ($0.2975 to $0.5610) leaves room in how you read the outcome.

Key figures of Tilray Brands, Inc.

How large is the market capitalisation of Tilray Brands, Inc. (TLRY)?
The market capitalisation of Tilray Brands, Inc. is $398M. 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. (TLRY)?
The price-to-sales ratio of Tilray Brands, Inc. is 0.41 (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 Tilray Brands, Inc. (TLRY)?
Earnings per share at Tilray Brands, Inc. are $−1.41. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tilray Brands, Inc. (TLRY)?
The dividend yield of Tilray Brands, Inc. is 0.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tilray Brands, Inc. (TLRY)?
The net margin of Tilray Brands, Inc. is −17.1% (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. (TLRY)?
The return on equity (ROE) of Tilray Brands, Inc. is −9.4% (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. (TLRY)?
On an EBIT basis the return on assets of Tilray Brands, Inc. is −31.4% (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 Tilray Brands, Inc. (TLRY)?
The operating margin of Tilray Brands, Inc. is −6.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tilray Brands, Inc. (TLRY)?
Revenue at Tilray Brands, Inc. is growing +22.7% versus a year earlier (3y avg +2.7%). 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. (TLRY) generate?
The free cash flow of Tilray Brands, Inc. is −$102M (fiscal year 2026). 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. (TLRY) carry?
The net debt of Tilray Brands, Inc. is $172M (fiscal year 2026). 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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