GTBIFOTCAgricultural Production-CropsFiscal year ends December 31
Green Thumb Industries Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$6.13+0.02 (+0.33%)
Close on Oct 19, 2026
- Market cap
- $1.37B
- P/E (TTM)
- 15.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
48.9%−5.7 pts over 5 years
Operating margin
11.7%−7.3 pts over 5 years
Net margin
9.7%+7.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.4% | +4.9% | +16.1% | – | |
| Gross profit | -4.4% | +4.5% | +13.6% | – | |
| Operating income | -38.6% | +4.4% | +5.4% | – | |
| Net income | +56.2% | +112.0% | +50.1% | – | |
| EPS, diluted | +60.0% | +112.5% | +47.0% | – | |
| Free cash flow | +86.0% | – | +42.7% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 1.7% | 6.2% | |
| Return on assets | – | 1.2% | 4.3% | |
| Current ratio | – | 1.54 | 3.26 | |
| Debt to equity | – | 0.11 | 0.12 | |
| Net debt to EBITDA | – | 0.09× | -0.17× | |
| Interest coverage | – | 5.7× | 6.9× | |
| Inventory turnover | – | 4.4× | 3.9× | |
| Capex to revenue | – | 10.7% | 6.9% | |
| Diluted shares | – | 213M | 237M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Green Thumb Industries generated $1.01B from operations and spent $748.64M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.01B
Used
$748.64M
Capital expenditure$748.64M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.7%
×Asset turnover0.44×
×Equity multiplier1.44×
=Return on equity, FY20256.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.7% | 0.44× | 1.44× | 6.2% |
| FY2024 | 6.4% | 0.45× | 1.44× | 4.2% |
| FY2023 | 3.4% | 0.43× | 1.46× | 2.2% |
| FY2022 | 1.2% | 0.42× | 1.47× | 0.7% |
| FY2021 | 8.4% | 0.48× | 1.48× | 6.0% |
| FY2020 | 2.7% | 0.44× | 1.44× | 1.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$114.15M
- Cash generatingOperating cash flow above zero$294.93M
- Return on assets improvedROA up on the prior year2.9% → 4.5%
- Earnings backed by cashOperating cash flow above net income$294.93M vs $114.15M
- Less leverageLong-term debt to assets fell9.6% → 8.1%
- Better liquidityCurrent ratio rose2.45 → 3.26
- No dilutionShare count did not rise242M → 237M
- Gross margin improvedGross margin up on the prior year52.86% → 48.91%
- More efficientAsset turnover rose0.46 → 0.46