TSNDF Stock Financial Analysis - TerrAscend Corp. (OTCPK) Stock

Overview

TerrAscend Corp. is a Canadian-based company that operates in the cannabis sector, focusing primarily on the cultivation, processing, and sale of medical and adult-use cannabis. The company has a significant footprint in North America, with key operations and facilities in both Canada and the United States, including several dispensaries under the Apothecarium brand. TerrAscend is involved in numerous key projects aimed at expanding its market share and enhancing product quality, such as its recent expansions in New Jersey, Pennsylvania, and California. These efforts align with its strategic goals to leverage technological advancements and regulatory insights to enhance its cultivation and distribution processes, thereby strengthening its position in the competitive cannabis industry.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for TerrAscend Corp. as of June 30, 2025 is 299.51 MM.
The operating income for TerrAscend Corp. as of June 30, 2025 is 30.35 MM.
The net income for TerrAscend Corp. as of June 30, 2025 is -117.95 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	299.51	30.35	-117.95
2025-03-31	301.70	30.02	-76.75
2024-12-31	306.68	29.57	-80.23
2024-09-30	297.20	36.83	-92.52
2024-06-30	312.28	52.09	-80.21
2024-03-31	317.20	44.65	-87.64
2023-12-31	317.33	36.99	-95.55
2023-09-30	299.80	19.48	-64.96
2023-06-30	276.81	-2.60	-367.34
2023-03-31	268.64	-12.79	-338.51
2022-12-31	247.83	-20.97	-329.91
2022-09-30	211.78	-4.95	-322.83
2022-06-30	194.68	-1.20	44.80
2022-03-31	189.44	18.61	0.93
2021-12-31	194.21	35.33	3.11
2021-09-30	210.83	14.41	-96.49
2021-06-30	199.82	25.49	-165.04
2021-03-31	175.31	18.62	-143.56
2020-12-31	132.15	20.68	-139.20
2020-09-30	117.76	2.00	-159.05
2020-06-30
2020-03-31

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31
2024-12-31
2024-09-30	-0.32	-0.33
2024-06-30	-0.28	-0.29
2024-03-31	-0.31	-0.31
2023-12-31	-0.35	-0.35
2023-09-30	-0.24	-0.23
2023-06-30	-1.39	-1.39
2023-03-31	-1.31	-1.30
2022-12-31	-1.35	-1.35
2022-09-30	-1.43	-1.43
2022-06-30	0.21	0.19
2022-03-31	0.00	-0.00
2021-12-31	0.02	0.01
2021-09-30	-0.56	-0.57
2021-06-30	-1.00	-1.00
2021-03-31	-0.92	-0.92
2020-12-31	-0.10	-0.10
2020-09-30	-1.11	-1.10
2020-06-30	-1.17	-1.17
2020-03-31	-1.32	-1.32

Cash Flow: Operations, Investing, Financing

The cash from operating activities for TerrAscend Corp. as of June 30, 2025 is 22.63 MM.
The cash from investing activities for TerrAscend Corp. as of June 30, 2025 is -18.52 MM.
The cash from financing activities for TerrAscend Corp. as of June 30, 2025 is -7.89 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	22.63	-18.52	-7.89
2025-03-31	32.70	-12.11	-17.45
2024-12-31	37.95	-12.25	-24.72
2024-09-30	37.38	-9.21	-29.58
2024-06-30	44.49	-16.18	-33.46
2024-03-31	32.29	-8.06	-31.50
2023-12-31	27.47	-16.22	-12.50
2023-09-30	25.36	-28.29	-4.80
2023-06-30	17.97	-32.42	-0.65
2023-03-31	1.16	-53.07	-3.95
2022-12-31	-26.12	-27.58	3.72
2022-09-30	-37.23	-49.51	19.80
2022-06-30	-56.72	-69.07	22.48
2022-03-31	-56.87	-105.62	16.02
2021-12-31	-31.82	-132.42	182.20
2021-09-30	-70.21	-79.91	221.00
2021-06-30	-53.44	-70.65	222.66
2021-03-31	-29.93	-29.07	270.69
2020-12-31	-36.97	-45.89	133.41
2020-09-30	-1.34	-79.57	106.36
2020-06-30
2020-03-31

Valuation Metrics : PE, PriceToBook, PriceToTBV

The p/book for TerrAscend Corp. as of June 30, 2025 is 2.55.
The p/tbv for TerrAscend Corp. as of June 30, 2025 is -3.82.

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30		2.55	-3.82
2025-03-31	-5.26	2.39	-4.23
2024-12-31		2.03	-3.81
2024-09-30	-5.25	1.86	-4.51
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31	-1.15	1.33	-6.49
2022-09-30
2022-06-30	8.12	0.67	-7.70
2022-03-31	390.99	0.69	-5.59
2021-12-31	88.38	1.20	-9.06
2021-09-30	-3.10	0.84	13.07
2021-06-30	-1.82	1.14	-3.95
2021-03-31	-2.02	1.25	35.41
2020-12-31	-0.82	-8.60	-0.58
2020-09-30
2020-06-30
2020-03-31

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

The ebit/ev for TerrAscend Corp. as of June 30, 2025 is -0.08.
The ebit (3y)/ev for TerrAscend Corp. as of June 30, 2025 is -0.24.

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30	-0.08	-0.24
2025-03-31	-0.09	-0.23
2024-12-31	-0.10	-0.24
2024-09-30	-0.08	-0.21
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31	-0.99	-0.58
2022-09-30
2022-06-30	0.12	-0.14
2022-03-31	0.04	-0.16
2021-12-31	0.08	-0.19
2021-09-30	-0.14	-0.24
2021-06-30	-0.35	-0.37
2021-03-31	-0.38	-0.44
2020-12-31	-0.46	-0.37
2020-09-30
2020-06-30
2020-03-31

Management Effectiveness

The roa for TerrAscend Corp. as of June 30, 2025 is -0.12.
The roe for TerrAscend Corp. as of June 30, 2025 is -0.34.
The roic for TerrAscend Corp. as of June 30, 2025 is -0.19.
The croic for TerrAscend Corp. as of June 30, 2025 is 0.01.
The ocroic for TerrAscend Corp. as of June 30, 2025 is 0.08.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	-0.12	-0.34	-0.19	0.01	0.08
2025-03-31	-0.12	-0.35	-0.19	0.00	0.09
2024-12-31	-0.14	-0.38	-0.20	-0.00	0.08
2024-09-30	-0.11	-0.28	-0.17	-0.01	0.10
2024-06-30		-0.29
2024-03-31		-0.30
2023-12-31		-0.23	-0.19	-0.02
2023-09-30		-0.67	-1.06	-0.04
2023-06-30	-0.36	-0.67
2023-03-31	-0.33	-0.64
2022-12-31	-0.48	-1.02	-1.02	-0.21	-0.12
2022-09-30	-0.48	-1.02	-1.02	-0.21	-0.12
2022-06-30	0.06	0.19	0.05	-0.13	-0.07
2022-03-31	0.00	0.00	0.00	-0.18	-0.07
2021-12-31	0.01		0.01	0.05	-0.07
2021-09-30	-0.15	-0.56	-0.16	0.13	-0.08
2021-06-30	-0.26	-1.02	-0.32	0.22	0.08
2021-03-31	-0.24	-1.11	-0.31	0.51	0.10
2020-12-31	-0.40	-2.54	-0.72	0.26	-0.19
2020-09-30	-0.40	-1.05	-0.78	0.14	0.02
2020-06-30	-0.76	-1.40	-0.80	0.22	-0.01
2020-03-31	-1.87	-3.85	-0.99	0.10	-0.16

Gross Margins

The gross margin for TerrAscend Corp. as of June 30, 2025 is 0.50.
The net margin for TerrAscend Corp. as of June 30, 2025 is -0.26.
The operating margin for TerrAscend Corp. as of June 30, 2025 is 0.10.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.50	-0.26	0.10
2025-03-31	0.49	-0.26	0.10
2024-12-31	0.48	-0.29	0.11
2024-09-30	0.50	-0.24	0.15
2024-06-30
2024-03-31
2023-12-31
2023-09-30		-1.33	-0.01
2023-06-30	0.46	-1.33	-0.01
2023-03-31	0.44	-1.26	-0.05
2022-12-31	0.38	-1.40	-0.12
2022-09-30	0.38	-1.40	-0.12
2022-06-30	0.40	0.21	-0.10
2022-03-31	0.47	0.00	0.03
2021-12-31	0.55	0.01	0.14
2021-09-30	0.71	-0.41	0.17
2021-06-30	0.76	-0.69	0.37
2021-03-31	0.73	-0.69	0.32
2020-12-31	0.55	-0.94	0.06
2020-09-30	0.55	-1.34	0.04
2020-06-30	0.46	-1.58	-0.16
2020-03-31	0.32	-2.08	-0.40

DE:TED	€0.65
CA:TSND	CA$1.08