Company Valuation: iAnthus Capital Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 251.4 33.69 16.28 165.6 172.5 46.42
Change - -86.6% -51.67% 916.98% 4.2% -73.1%
Enterprise Value (EV) 1 383.3 229 231.6 335.2 360.4 238.3
Change - -40.26% 1.14% 44.75% 7.53% -33.88%
P/E ratio -0.77x -0.11x -0.21x -0.19x -2.23x -5.96x
PBR 0.69x 0.66x -0.73x 15.1x -2.8x -0.71x
PEG - 0.02x 0x 0x 0x 0.1x
Capitalization / Revenue 3.21x 0.22x 0.08x 1.02x 1.09x 0.28x
EV / Revenue 4.89x 1.51x 1.14x 2.06x 2.27x 1.43x
EV / EBITDA -7.18x -18.8x 10.6x -8.45x -25.1x 19.7x
EV / EBIT -5.14x -5.96x -32.5x -4.87x -9.13x -22.5x
EV / FCF -6.09x 7.92x 5.86x -15.1x 12.3x -3.57x
FCF Yield -16.4% 12.6% 17.1% -6.64% 8.16% -28%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.904 -1.805 -0.444 -0.1333 -0.0119 -0.001167
Distribution rate - - - - - -
Net sales 1 78.38 151.7 203 162.6 158.4 166.8
EBITDA 1 -53.37 -12.2 21.8 -39.67 -14.35 12.11
EBIT 1 -74.58 -38.39 -7.124 -68.76 -39.49 -10.57
Net income 1 -301.3 -309.8 -76.25 -449.4 -76.62 -7.636
Net Debt 1 131.8 195.3 215.3 169.6 187.9 191.9
Reference price 2 1.464880 0.196202 0.094825 0.025860 0.026503 0.006950
Nbr of stocks (in thousands) 171,643 171,718 171,718 6,403,482 6,510,527 6,678,395
Announcement Date 31/07/20 31/03/21 17/03/22 29/03/23 28/03/24 24/03/25
1USD in Million2USD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 25.6M
13.86x - - - 199M
13.05x1.35x5.09x - 136M
-1.32x0.79x3.37x - 111M
-1.82x1.1x5.97x - 105M
Average 5.94x 1.08x 4.81x 115.49M
Weighted average by Cap. 7.60x 1.10x 4.81x

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation iAnthus Capital Holdings, Inc.