TLRY Stock Analysis: Tilray | NASDAQ

Cannabis, Beverages, Pharmaceuticals, Hemp Foods

Total Rating 8

Safety 32

Buy Signal -1.25

Drug Manufacturers - Specialty & Generic
Industry Rotation: +6.9

Market Cap: 398M
Avg Turnover: 12.5M

Risk 3d forecast

Volatility112%

VaR 5^th Pctl15.5%

VaR vs Median-14.1%

Reward TTM

Sharpe Ratio-1.42

Rel. Str. IBD0.9

Rel. Str. Peer Group0.6 pctl

Character TTM

Beta2.290

Beta Downside2.411

Hurst Exponent0.516

Choppyness3.23%

Drawdowns 3y

Max DD91.12%

CAGR/Max DD-0.49

CAGR/Mean DD-0.78

EPS (Earnings per Share)

Last SUE: -0.50
Qual. Beats: 0

Revenue

Rev. CAGR: -3.44%
Rev. Trend: -36.8%

Last SUE: -0.51
Qual. Beats: 0

Warnings

Strong Share Dilution

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Overextended 3d

Below Avwap Earnings

Below Sma 200d

Tailwinds

Ep Pivot

Seasonality 8.2 years of data

Jan -6.6% 13

Feb +1.5% 9

Mar -1.7% 20

Apr +0.6% 9

May -1.6% 36

Jun -5.2% 10

Jul +20.7% 36

Aug +4.7% 28

Sep -5.9% 0

Oct -1.2% 12

Nov +2.7% 21

Dec -2.2% 6

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: TLRY Tilray

Tilray Brands, Inc. (NASDAQ: TLRY) is a Canadian-headquartered lifestyle consumer products company operating across four segments: Beverage, Cannabis, Distribution, and Wellness. It researches, cultivates, processes, and distributes medical and adult-use cannabis products in Canada, the United States, Europe, the Middle East, and Africa, and also sells beverages, hemp-based food products, pharmaceuticals, and wellness items.

The company markets a broad portfolio of brands including Tilray, Aphria, Broken Coast, Charlottes Web, Manitoba Harvest, and CC Pharma on the cannabis and wellness side, alongside craft beer and beverage labels such as SweetWater, Breckenridge Brewery, 10 Barrel, Alpine, Atwater Brewery, Montauk Brewing, and Hop Valley. Products reach customers through retailers, wholesalers, hospitals, pharmacies, governments, and direct-to-consumer channels.

Tilrays business model combines federally regulated cannabis operations with the consumer beverage and wellness categories, operating under different cannabis legalization frameworks across jurisdictions. The company was formerly known as Tilray, Inc. and rebranded to Tilray Brands, Inc. in January 2022. It is classified as a small-cap stock within the Health Care sectors Pharmaceuticals sub-industry.

Headlines to Watch Out For

German adult-use legalization accelerates international cannabis revenue growth
US DEA cannabis rescheduling decision could unlock federal market access
Beverage portfolio revenue growth offsets Canadian cannabis pricing pressure

Piotroski VR-10 (Strict) 1.5

Net Income: -164.2m TTM > 0 and > 6% of Revenue
FCF/TA: -0.05 > 0.02 and ΔFCF/TA -0.78 > 1.0
NWC/Revenue: 39.13% < 20% (prev 71.68%; Δ -32.54% < -1%)
CFO/TA -0.04 > 3% & CFO -88.1m > Net Income -164.2m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 1.88 > 1.5 & < 3
Outstanding Shares: last quarter (133.3m) vs 12m ago 25.76% < -2%
Gross Margin: 28.48% > 18% (prev 28.69%; Δ -0.21% > 0.5%)
Asset Turnover: 37.12% > 50% (prev 29.04%; Δ 8.08% > 0%)
Interest Coverage Ratio: -3.80 > 6 (EBIT TTM -89.2m / Interest Expense TTM 23.4m)

Altman Z'' -3.82

A: 0.16 (Total Current Assets 807.6m - Total Current Liabilities 430.7m) / Total Assets 2.33b
B: -2.15 (Retained Earnings -5.01b / Total Assets 2.33b)
C: -0.03 (EBIT TTM -89.2m / Avg Total Assets 2.59b)
D: 2.25 (Book Value of Equity 1.62b / Total Liabilities 721.3m)
Altman-Z'' = -3.82 = D

Beneish M -2.42

DSRI: 1.12 (Receivables 190.6m/147.1m, Revenue 963.1m/830.8m)
GMI: 1.01 (GM 28.69% / 28.48%)
AQI: 1.65 (AQ_t 0.64 / AQ_t-1 0.38)
SGI: 1.16 (Revenue 963.1m / 830.8m)
TATA: -0.03 (NI -164.2m - CFO -88.1m) / TA 2.33b)
Beneish M = -2.42 (Cap -4..+1) = BBB

What is the price of TLRY shares?

As of November 05, 2026, the stock is trading at USD 2.96 with a total of 11,445,898 shares traded. Over the past week, the price has changed by +10.04%, over one month by -20.43%, over three months by -36.21% and over the past year by -76.13%.

Current recommended Stop Loss: 2.70 (which is 8.8% or 1.6 ATR below the current price).

Is TLRY a buy, sell or hold?

Tilray has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold TLRY.

StrongBuy: 3
Buy: 0
Hold: 7
Sell: 0
StrongSell: 0

What are the forecasts/targets for the TLRY price?

Analysts Target Price	5.6	89.5%

Tilray (TLRY) - Fundamental Data Overview as of 30 October 2026

Market Cap USD = 397.5m (397.5m USD * 1.0 USD.USD)
P/E Forward = 1000.0
P/S = 0.4128
P/B = 0.2522
Revenue TTM = 963.1m USD
EBIT TTM = -89.2m USD
EBITDA TTM = -18.5m USD
Long Term Debt = 118.0m USD (from longTermDebt, last quarter)
Short Term Debt = 95.3m USD (from shortTermDebt, last quarter)
Debt = 542.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 170.5m
Net Debt = 324.4m USD (calculated: Debt 542.4m - CCE 218.0m)
Enterprise Value = 722.0m USD (397.5m + Debt 542.4m - CCE 218.0m)
Interest Coverage Ratio = -3.80 (Ebit TTM -89.2m / Interest Expense TTM 23.4m)
EV/FCF = -5.70x (Enterprise Value 722.0m / FCF TTM -126.7m)
FCF Yield = -17.55% (FCF TTM -126.7m / Enterprise Value 722.0m)
FCF Margin = -13.16% (FCF TTM -126.7m / Revenue TTM 963.1m)
Net Margin = -17.05% (Net Income TTM -164.2m / Revenue TTM 963.1m)
Gross Margin = 28.48% ((Revenue TTM 963.1m - Cost of Revenue TTM 688.8m) / Revenue TTM)
Gross Margin QoQ = 30.14% (prev 29.93%)
Tobins Q-Ratio = 0.31 (Enterprise Value 722.0m / Total Assets 2.33b)
Interest Expense / Debt = 4.32% (Interest Expense 23.4m / Debt 542.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -70.5m (EBIT -89.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.88 (Total Current Assets 807.6m / Total Current Liabilities 430.7m)
Debt / Equity = 0.33 (Debt 542.4m / totalStockholderEquity, last quarter 1.62b)
Debt / EBITDA = -17.51 (negative EBITDA) (Net Debt 324.4m / EBITDA -18.5m)
Debt / FCF = -2.56 (negative FCF - burning cash) (Net Debt 324.4m / FCF TTM -126.7m)
Total Stockholder Equity = 1.75b (last 4 quarters mean from totalStockholderEquity)
RoA = -6.33% (Net Income -164.2m / Total Assets 2.33b)
RoE = -9.38% (Net Income TTM -164.2m / Total Stockholder Equity 1.75b)
RoCE = -4.77% (EBIT -89.2m / Capital Employed (Equity 1.75b + L.T.Debt 118.0m))
RoIC = -3.62% (negative operating profit) (NOPAT -70.5m / Invested Capital 1.94b)
WACC = 7.60% (E(397.5m)/V(940.0m) * Re(13.32%) + D(542.4m)/V(940.0m) * Rd(4.32%) * (1-Tc(0.21)))
Discount Rate = 13.32% (= CAPM, Blume Beta Adj.) -> capped to 12.54%
Shares (quarterly) Correlation: 96.27 | Cagr: 25.93%
[DCF] Fair Price = unknown (Cash Flow -126.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.50 | # QB: 0
Revenue Correlation: -36.75 | Revenue CAGR: -3.44% | SUE: -0.51 | # QB: 0
EPS current Quarter (2026-11-30): EPS=0.00 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS next Quarter (2027-02-28): EPS=0.00 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2027-05-31): EPS=-0.13 | Chg30d=-283.86% | Revisions=-25% | GrowthEPS=-217.0% | GrowthRev=+20.4%
EPS next Year (2028-05-31): EPS=0.14 | Chg30d=-21.06% | Revisions=-25% | GrowthEPS=+210.4% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: -40% (up=0, down=2)