Tilray Brands, Inc. (TLRY) intrinsic value & 10-year financials
Tilray Brands, Inc. (TLRY) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 59.0% a year to $821.3M, with an average return on invested capital of 42.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.04
- Market cap
- $2.7B
- Revenue (FY2025)
- $821.3M
- Revenue growth (10-yr CAGR)
- 59.0%
- ROIC (10-yr avg)
- 42.1%
- Free cash flow (FY2025)
- -$127.5M
TLRY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $821.3M | -$2.2B | -$2.46 | -$127.5M | -277.9% | -92.9% |
| FY2024 | $788.9M | -$245.0M | -$0.33 | -$60.2M | -22.1% | -4.9% |
| FY2023 | $627.1M | -$1.5B | -$2.35 | -$12.9M | -218.4% | -37.2% |
| FY2022 | $628.4M | -$476.8M | -$0.90 | -$211.3M | -97.1% | -14.3% |
| FY2021 | $513.1M | -$367.4M | -$1.25 | -$83.6M | -25.8% | -4.9% |
| FY2020 | $405.3M | -$102.5M | -$0.47 | -$199.4M | -25.7% | -15.9% |
| FY2019 | $167.0M | -$321.2M | — | -$331.8M | -180.7% | 926.9% |
| FY2018 | $43.1M | -$67.7M | — | -$96.4M | -133.7% | 42.8% |
| FY2017 | $20.5M | -$7.8M | — | -$16.9M | -36.5% | -66.8% |
| FY2016 | $12.6M | -$7.9M | — | -$3.8M | -55.7% | -311.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tilray Brands, Inc. is a consistent compounder, expanding top-line revenue at 59.0% annually over the past decade.
Tilray Brands, Inc. has historically struggled to out-earn its cost of capital, averaging just -20.6% ROIC.
Tilray Brands, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Tilray Brands, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-81.71 per share.