Tilray Brands, Inc. (TLRY) Balance Sheet
TLRY balance sheet, FY2026
May 31, 2026 · U.S. dollars$2.33B assets = $733.1M liabilities + $1.59B equity
Both columns are drawn to the same scale: what TLRY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TLRY financial health
Current ratio2.21
Comfortable · current assets cover current liabilities 2.21×
Debt / equity0.25
Low leverage · $0.25 of debt for each $1 of equity
Equity / assets69.3%
Equity-funded · of assets funded by shareholders
Cash / debt58.0%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles34.2%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
TLRY balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $44.9MFY2017 | $2.33BFY2026 | +55.1%/yr | |
| Total liabilities | $41.5MFY2017 | $733.1MFY2026 | +37.6%/yr | |
| Shareholders’ equity | $3.4MFY2017 | $1.61BFY2026 | +98.2%/yr | |
| Cash & short-term investments | $10.2MFY2017 | $231.3MFY2026 | +41.5%/yr | |
| Total debt | $38.8MFY2017 | $398.4MFY2026 | +29.5%/yr | |
| Net cash (debt) | −$28.6MFY2017 | −$167.1MFY2026 | −$138.5M | |
| Working capital | −$13.3MFY2017 | $433.8MFY2026 | +$447.1M | |
| Book value per share | $115.23FY2022 | $14.44FY2026 | −40.5%/yr | |
| Current ratio | 0.55FY2017 | 2.21FY2026 | +1.66 | |
| Debt / equity | 11.35FY2017 | 0.25FY2026 | −11.11 | |
| Shares outstanding | 48.1MFY2022 | 111.8MFY2026 | +23.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TLRY assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
TLRY liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
TLRY debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TLRY balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $231.3M | $351.8M | $355.0M | $604.2M | $524.3M | $488.5M | $93.8M | $521.7M | $2.3M | $10.2M |
| Cash & equivalents | $226.0M | $304.2M | $311.1M | $278.3M | $524.3M | $488.5M | $93.8M | $491.1M | $2.3M | $10.2M |
| Short-term investments | $5.3M | $47.6M | $43.9M | $325.8M | $0 | — | $0 | $30.6M | $34.9M | $64.8M |
| Receivables | $189.2M | $166.7M | $138.6M | $116.1M | $120.1M | $105.4M | $41.7M | $17.6M | $2.1M | $571,447 |
| Inventory | $301.2M | $371.7M | $343.5M | $270.1M | $309.5M | $256.4M | $85.2M | $16.3M | $7.3M | $5.5M |
| Other current assets | $70.5M | $54.7M | $86.4M | $50.8M | $59.0M | $33.4M | $30.4M | $3.0M | $535,032 | $95,919 |
| Total current assets | $792.1M | $944.9M | $923.4M | $1.04B | $1.01B | $883.6M | $251.1M | $558.7M | $12.2M | $16.4M |
| Property, plant & equipment (net) | $722.5M | $810.6M | $782.6M | $586.8M | $757.0M | $669.0M | $195.6M | $80.9M | $39.3M | $26.9M |
| Goodwill & intangible assets | $795.1M | $1.06B | $3.98B | $4.02B | $4.94B | $4.44B | $380.1M | $499.6M | $406.3M | $2.0M |
| Long-term investments | $6.6M | $10.1M | $7.9M | $12.4M | $15.0M | $25.8M | $19.6M | $0 | $0 | $0 |
| Other non-current assets | $11.7M | $77.1M | $208.6M | $265.7M | $144.5M | $8.3M | $22.6M | $0 | $0 | $0 |
| Total assets | $2.33B | $2.90B | $5.91B | $5.92B | $6.87B | $6.03B | $868.9M | $661.9M | $53.1M | $44.9M |
| Liabilities | ||||||||||
| Accounts payable | $318.1M | $147.3M | $143.6M | $95.4M | $86.5M | $69.7M | $37.9M | $10.7M | $5.5M | $1.0M |
| Short-term debt | $40.3M | $39.6M | $53.1M | $302.1M | $116.8M | $49.6M | $3.9M | $473,741 | $41.9M | $27.2M |
| Deferred revenue | — | — | $4.1M | $119.9M | — | $155.1M | $650,291 | $17.5M | $2.0M | $2.1M |
| Total current liabilities | $358.4M | $384.6M | $407.6M | $583.2M | $353.4M | $401.2M | $89.6M | $26.1M | $49.3M | $29.7M |
| Long-term debt | $200.0M | $234.9M | $287.9M | $357.9M | $519.8M | $835.1M | $290.4M | $0 | $0 | $0 |
| Lease obligations | $171.5M | $71.9M | $65.5M | $10.4M | $18.0M | $58.2M | $5.2M | — | — | — |
| Other long-term liabilities | $174.8M | $240.9M | $520.0M | $497.1M | $397.9M | $323.7M | $212.3M | $436.5M | $8.5M | $11.8M |
| Total liabilities | $733.1M | $860.5M | $1.22B | $1.44B | $1.27B | $1.56B | $592.4M | $462.7M | $57.9M | $41.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $132,000 | $145,452 | $113,093 | $88,900 | $66,810 | $46,000 | $10,663 | $1.22B | $863.9M | $203.6M |
| Retained earnings (deficit) | −$4.97B | −$6.65B | −$3.63B | −$3.25B | −$1.21B | −$486.1M | −$417.0M | −$109.0M | −$39.7M | −$44.1M |
| Accumulated other comprehensive income | −$44.2M | −$59.1M | −$59.3M | −$62.8M | −$26.2M | $152.7M | $9.4M | $3.8M | $3.8M | $4.8M |
| Minority interest | −$19.5M | −$21.9M | $272,000 | $14.3M | — | — | — | — | — | — |
| Total shareholders' equity | $1.61B | $2.07B | $4.69B | $4.47B | $5.55B | $4.46B | $276.5M | $199.2M | −$4.8M | $3.4M |
| Key figures | ||||||||||
| Total debt | $398.4M | $451.1M | $527.7M | $794.9M | $786.4M | $938.7M | $454.8M | $432.5M | $50.3M | $38.8M |
| Net cash (debt) | −$167.1M | −$99.3M | −$172.8M | −$190.7M | −$262.1M | −$450.2M | −$361.0M | $89.2M | −$48.0M | −$28.6M |
| Working capital | $433.8M | $560.3M | $515.8M | $458.0M | $659.5M | $482.4M | $161.5M | $532.6M | −$37.1M | −$13.3M |
| Tangible book value | $819.2M | $1.01B | $706.6M | $448.6M | $604.6M | $20.4M | −$103.5M | −$300.4M | −$411.1M | $1.4M |
| Book value per share | $14.44 | $23.30 | $63.17 | $72.27 | $115.23 | — | — | — | — | — |
| Shares outstanding | 111.8M | 89.0M | 74.3M | 61.8M | 48.1M | — | — | — | — | — |
| Current ratio | 2.21 | 2.46 | 2.27 | 1.79 | 2.87 | 2.20 | 2.80 | 21.37 | 0.25 | 0.55 |
| Quick ratio | 1.17 | 1.35 | 1.21 | 1.24 | 1.82 | 1.48 | 1.51 | 20.63 | 0.09 | 0.36 |
| Debt / equity | 0.25 | 0.22 | 0.11 | 0.18 | 0.14 | 0.21 | 1.64 | 2.17 | — | 11.35 |
| Equity / assets | 69.3% | 71.4% | 79.4% | 75.4% | 80.7% | 74.0% | 31.8% | 30.1% | −9.0% | 7.6% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $218.0M | $231.3M | $219.9M | $407.3M | $363.8M | $351.8M | $358.8M | $352.8M | $377.8M | $355.0M | $306.6M | $353.9M |
| Cash & equivalents | $215.0M | $226.0M | $204.6M | $344.6M | $363.8M | $304.2M | $288.8M | $265.3M | $276.8M | $311.1M | $198.5M | $196.3M |
| Short-term investments | $3.0M | $5.3M | $15.3M | $62.7M | $0 | $47.6M | $70.0M | $87.5M | $101.0M | $43.9M | $108.1M | $157.6M |
| Receivables | $190.6M | $189.2M | $118.4M | $152.4M | $147.1M | $166.7M | $149.3M | $157.7M | $140.3M | $138.6M | $121.5M | $122.7M |
| Inventory | $329.0M | $301.2M | $292.3M | $395.6M | $388.4M | $371.7M | $380.5M | $372.1M | $356.5M | $343.5M | $331.4M | $342.2M |
| Other current assets | $70.0M | $70.5M | $88.2M | $63.6M | $63.8M | $54.7M | $102.7M | $106.8M | $104.5M | $86.4M | $97.3M | $50.6M |
| Total current assets | $807.6M | $792.1M | $718.8M | $1.02B | $963.1M | $944.9M | $991.3M | $989.4M | $979.1M | $923.4M | $856.8M | $869.3M |
| Property, plant & equipment (net) | $42.0M | $722.5M | $17.9M | $796.1M | $798.3M | $810.6M | $801.3M | $801.0M | $772.0M | $782.6M | $809.3M | $851.2M |
| Goodwill & intangible assets | $794.8M | $795.1M | $775.7M | $1.08B | $1.07B | $1.06B | $3.10B | $4.01B | $3.94B | $3.98B | $3.99B | $4.01B |
| Long-term investments | $0 | $6.6M | $7.6M | $13.4M | $10.2M | $10.1M | $10.0M | $7.4M | $7.9M | $7.9M | $8.1M | $12.7M |
| Other non-current assets | $683.5M | $11.7M | $554.7M | $20.8M | $21.2M | $77.1M | $11.7M | $54.8M | $53.1M | $208.6M | $53.9M | $118.3M |
| Total assets | $2.33B | $2.33B | $2.07B | $2.93B | $2.86B | $2.90B | $4.92B | $5.86B | $5.75B | $5.91B | $5.72B | $5.86B |
| Liabilities | ||||||||||||
| Accounts payable | $335.4M | $318.1M | $115.3M | $159.9M | $152.2M | $147.3M | $142.9M | $138.6M | $137.4M | $143.6M | $122.4M | $119.6M |
| Short-term debt | $95.3M | $40.3M | $33.5M | $46.0M | $43.9M | $39.6M | $43.7M | $56.2M | $53.7M | $53.1M | $157.7M | $225.6M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$101.9M | $4.1M | $1.4M | $128.5M |
| Total current liabilities | $430.7M | $358.4M | $257.5M | $362.3M | $367.6M | $384.6M | $378.7M | $389.6M | $396.0M | $407.6M | $446.7M | $534.8M |
| Long-term debt | $0 | $200.0M | $223.2M | $225.0M | $228.4M | $234.9M | $253.5M | $271.6M | $287.9M | $287.9M | $292.2M | $292.8M |
| Lease obligations | — | $171.5M | $67.5M | $69.2M | $70.8M | $71.9M | $66.8M | $68.6M | $66.3M | $65.5M | $78.7M | $75.0M |
| Other long-term liabilities | $290.6M | $174.8M | $68.3M | $184.0M | $175.9M | $240.9M | $380.4M | $371.3M | $366.2M | $520.0M | $441.7M | $441.4M |
| Total liabilities | $721.3M | $733.1M | $549.1M | $771.3M | $772.0M | $860.5M | $1.01B | $1.03B | $1.05B | $1.22B | $1.18B | $1.27B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $145,000 | $132,000 | $116,000 | $162,049 | $152,474 | $145,452 | $142,995 | $130,079 | $118,703 | $113,093 | $104,516 | $98,845 |
| Retained earnings (deficit) | −$5.01B | −$4.97B | −$4.92B | −$6.83B | −$6.66B | −$6.65B | −$5.16B | −$3.90B | −$3.64B | −$3.63B | −$3.57B | −$3.43B |
| Accumulated other comprehensive income | −$39.5M | −$44.2M | −$44.2M | −$54.9M | −$59.4M | −$59.1M | −$76.5M | −$67.1M | −$53.8M | −$59.3M | −$58.6M | −$52.0M |
| Minority interest | — | −$19.5M | −$31.8M | −$33.3M | −$20.1M | −$21.9M | — | — | — | — | — | — |
| Total shareholders' equity | $1.62B | $1.61B | $1.56B | $2.21B | $2.12B | $2.07B | $3.94B | $4.86B | $4.69B | $4.69B | $4.56B | $4.56B |
| Key figures | ||||||||||||
| Total debt | $371.9M | $398.4M | $317.1M | $446.5M | $444.7M | $451.1M | $496.7M | $522.8M | $523.9M | $527.7M | $653.7M | $716.8M |
| Net cash (debt) | −$153.9M | −$167.1M | −$97.1M | −$39.2M | −$80.9M | −$99.3M | −$137.9M | −$170.0M | −$146.2M | −$172.8M | −$347.2M | −$362.9M |
| Working capital | $376.9M | $433.8M | $461.2M | $656.6M | $595.5M | $560.3M | $612.6M | $599.8M | $583.2M | $515.8M | $410.1M | $334.5M |
| Tangible book value | $828.5M | $819.2M | $781.7M | $1.12B | $1.05B | $1.01B | $841.8M | $847.2M | $754.9M | $706.6M | $568.9M | $548.7M |
| Book value per share | $12.17 | $14.44 | $13.82 | $20.00 | $19.96 | $21.21 | $43.41 | $56.16 | $53.59 | $59.11 | $60.43 | $62.41 |
| Shares outstanding | 133.3M | 111.8M | 112.7M | 110.3M | 106.0M | 97.8M | 90.8M | 86.5M | 87.5M | 79.4M | 75.4M | 73.1M |
| Current ratio | 1.88 | 2.21 | 2.79 | 2.81 | 2.62 | 2.46 | 2.62 | 2.54 | 2.47 | 2.27 | 1.92 | 1.63 |
| Quick ratio | 0.95 | 1.17 | 1.31 | 1.54 | 1.39 | 1.35 | 1.34 | 1.31 | 1.31 | 1.21 | 0.96 | 0.89 |
| Debt / equity | 0.23 | 0.25 | 0.20 | 0.20 | 0.21 | 0.22 | 0.13 | 0.11 | 0.11 | 0.11 | 0.14 | 0.16 |
| Equity / assets | 69.7% | 69.3% | 75.1% | 75.3% | 74.0% | 71.4% | 80.2% | 82.9% | 81.6% | 79.4% | 79.7% | 77.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 28, 2026); data from EODHD.
TLRY financial position
At the end of fiscal 2026 (May 31, 2026), Tilray Brands had total assets of $2.3 billion (down 19.8% from a year earlier), total liabilities of $733.1 million and shareholders' equity of $1.6 billion. It held $231.3 million in cash and short-term investments against $398.4 million of debt, net debt of $167.1 million. Its current ratio was 2.21. In the latest quarter (ended August 31, 2026) total assets were $2.3 billion and equity $1.6 billion.
Related: TLRY income statement, TLRY cash flow statement, TLRY key metrics. See the TLRY stock overview for the latest quote and news.
TLRY balance sheet FAQ
What are Tilray Brands's total assets?
Tilray Brands reported total assets of $2.3 billion at the end of fiscal 2026 (May 31, 2026), compared with $2.9 billion a year earlier.
How much debt does Tilray Brands have?
Tilray Brands had $398.4 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.25.
How much cash does Tilray Brands have?
Tilray Brands held $231.3 million in cash and short-term investments at the end of fiscal 2026; with $398.4 million of debt that is net debt of $167.1 million.
What is Tilray Brands's book value?
Tilray Brands's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2026, or $14.44 per share.
What is Tilray Brands's current ratio?
Tilray Brands had current assets of $792.1 million and current liabilities of $358.4 million, a current ratio of 2.21 (it can cover its short-term obligations).
How much goodwill does Tilray Brands have?
Tilray Brands carried $795.1 million of goodwill and intangible assets, 34.2% of total assets, at the end of fiscal 2026.