Year-end results released March 23 showed revenue of $20.4 million, nearly quadruple the $4.2 million it recorded in the prior-year period.
One of the benefits of investing in a smaller business like this is that because the company isn’t as popular and well-known as a big name like Curaleaf, there is less fanfare around it, which makes its value less likely to be inflated.
In the past year, shares of MariMed are up more than 360% while the Horizons Marijuana Life Sciences ETF has risen by a more modest 68%.
With such strong margins, it’s no surprise that it belongs on this list as it trades at only 18 times its adjusted EBITDA.
And it’s hard to argue with that approach given that at $1.3 billion in medical cannabis sales last year, Florida is one of the top three markets in the entire country, even though the state has yet to legalize recreational marijuana.
Trulieve’s management team has shown discipline in their expansion efforts, so it is no surprise that the company’s operations reflect that, with expenses under control and growing revenue.