Company Valuation: TerrAscend Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,172 296.8 478.6 186.1 219.7 147.5 - -
Change - -74.68% 61.26% -61.11% 18.04% -32.86% - -
Enterprise Value (EV) 1 1,277 476 652.6 349.3 436.9 304.5 299 147.5
Change - -62.74% 37.1% -46.47% 25.06% -30.3% -1.81% -50.67%
P/E 614x -0.85x -4.76x -2.28x -2.49x -7.22x -20.2x 50.6x
PBR 4.97x 0.98x 2x 1.06x 2.28x 2.66x 3.37x -
PEG - 0x 0.1x 0.1x -0.7x 0.1x 0.3x -0x
Capitalization / Revenue 5.57x 1.2x 1.51x 0.61x 0.84x 0.55x 0.52x 0.48x
EV / Revenue 6.07x 1.92x 2.06x 1.14x 1.68x 1.14x 1.05x 0.48x
EV / EBITDA 19.5x 12.3x 9.48x 5.76x 6.44x 4.41x 4.01x 1.81x
EV / EBIT 54.4x -20x 15.7x -20.4x 10.4x 6.69x 5.92x -
EV / FCF -17.7x -7.24x 33.1x 12.2x 17.3x 15.9x 15x -
FCF Yield -5.66% -13.8% 3.02% 8.18% 5.79% 6.29% 6.67% -
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.01 -1.35 -0.35 -0.28 -0.29 -0.07 -0.025 0.01
Distribution rate - - - - - - - -
Net sales 1 210.4 247.8 317.3 306.7 260.1 267 285.7 304.8
EBITDA 1 65.64 38.84 68.8 60.69 67.81 68.97 74.5 81.65
EBIT 1 23.48 -23.74 41.44 -17.11 42.02 45.5 50.5 -
Net income 1 3.111 -329.9 -95.54 -80.23 -86.23 -23.25 -9.1 11.1
Net Debt 1 105.5 179.2 174 163.2 217.2 157 151.5 -
Reference price 2 6.1399 1.1452 1.6659 0.6394 0.7220 0.5055 0.5055 0.5055
Nbr of stocks (in thousands) 1,90,880 2,59,125 2,87,271 2,91,054 3,04,244 3,09,176 - -
Announcement Date 16/03/22 16/03/23 14/03/24 06/03/25 12/03/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-6.83x1.14x4.42x - 15Cr
17.07x0.7x10.41x-.--% 1.53TCr
18.27x0.8x8.69x2.46% 504.01Cr
17.29x0.77x8.04x2.17% 663.26Cr
21.28x0.37x5.71x2.14% 648.15Cr
19.62x0.71x12.32x1.11% 586.21Cr
16.41x1.03x7.18x2.57% 463.89Cr
15.74x0.46x7.62x1.34% 320.98Cr
14.57x0.62x4.78x4.96% 324.3Cr
15.41x0.92x6.89x4.2% 310.39Cr
Average 14.88x 0.75x 7.61x 2.33% 536.71Cr
Weighted average by Cap. 17.55x 0.70x 8.59x 1.73%

Y-o-Y evolution of P/E

Valuation ratios - P/E - TerrAscend Corp.

Historical PBR trend

Valuation ratios - PBR - TerrAscend Corp.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - TerrAscend Corp.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - TerrAscend Corp.

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