Tilray Brands, Inc. (TLRY) AI Stock Analysis

Tilray Brands, Inc. is involved in the comprehensive lifecycle of medical cannabis products across global markets. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. Its offerings include GMP-certified flowers, oils, vapes, edibles, and topicals for medical and adult-use purposes, alongside pharmaceutical distribution, beverage alcohol products, and hemp-based foods. Tilray Brands serves markets across Canada, the United States, Europe, Australia, New Zealand, and Latin America through brands such as Tilray, Aphria, Broken Coast, Symbios, and SweetWater. Its distribution network reaches retailers, wholesalers, healthcare providers, researchers, and government entities.

Tilray Brands increased annual revenue from $628.4M in FY2022 to $1.07B in FY2024, before revenue contracted 23.6% to $821.3M in FY2025. In FY2026, revenue rebounded 11.5% to $915.5M, supporting a five-year revenue compound annual growth rate of 12.3% from FY2021 to FY2026. Operating margins have remained negative, shifting from -37.1% in FY2022 to -277.9% in FY2025 and improving to -6.9% in FY2026. The company reported a net loss of $122.6M in FY2026, narrower than the net loss of $2.19B recorded in FY2025. In the latest quarter ended August 31, 2026, quarterly revenue grew 22.7% year-over-year, bringing trailing twelve-month revenue to $963.1M with a net profit margin of -17.1%.

As of August 31, 2026, Tilray Brands held $218.0M in cash and short-term investments alongside $371.9M in total debt, resulting in net debt of $153.9M. Total assets stood at $2.33B and shareholders' equity was $1.62B, with a current ratio of 1.88 and a debt-to-equity ratio of 0.23. Cash generation remained negative in FY2026, recording operating cash flow of -$69.1M and free cash flow of -$102.1M. During FY2026, the company spent $33.0M on capital expenditures and $159,000 on share buybacks, while its five-year share count expanded 189.7%.

At a last close of $3.04, Tilray Brands carries a market capitalization of $449.3M and an enterprise value of $761.1M. The stock trades at a price-to-sales multiple of 0.5x, well below the median of 4.1x for its US-listed Healthcare peers. Its enterprise value-to-EBITDA ratio is 80.7x compared to the peer median of 12.0x, while its forward price-to-earnings ratio is 1000.0x versus 17.3x for the peer group. Tilray Brands has underperformed the broader market, dropping 80.3% over the past year compared to a 16.8% return for the S&P 500.

Wall Street coverage consists of 3 Strong Buy ratings and 7 Hold ratings, with no Buy, Sell, or Strong Sell recommendations. The mean price target of $5.89 stands 93.7% above the last closing price of $3.04. Over the last four quarters, the company recorded 0 EPS beats. For the current fiscal year ending May 31, 2027, consensus estimates forecast an EPS of -$0.13 and revenue of $1.10B. For the following fiscal year, 2 analysts project an EPS of $0.14 and revenue growth of 5.3% to $1.16B.

This page is an AI-written research summary of Tilray Brands, Inc. (TLRY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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