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Cresco Labs USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Cannabis

Geography: United States

COMM_CRLBF

Price chart

0.82 USDDay -3.53%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
0.82 USD · -3.53%
Market cap
295 mln USD

Growth

Δ revenue y/y
-8.7%
Δ EBITDA y/y
-10.6%

Multiples

P/E (LTM)
P/B (FY)
0.9x
P/E (ann.)
<0
EV/EBITDA (LTM)
4.5x
EV/EBITDA (ann.)
6.8x

Cash return

Dividend yield
FCF yield (LTM)
-54.3%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)

Liquidity

Daily turnover (listing)
0.1 mln USD

Shares: yahoo_fundamentals_timeseries/CRLBF

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 9 / Err: 7 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1Warn 1
2023-06-30 Q2Errors 1Warn 1
2023-09-30 Q3Errors 1Warn 2
2023-12-31 FYErrors 1Warn 2
2023-12-31 Q4Warn 3
2024-03-31 Q1Errors 1Warn 3
2024-06-30 Q2Errors 1Warn 2
2024-09-30 Q3Warn 1
2024-12-31 FYWarn 1
2024-12-31 Q4Warn 1
2025-03-31 Q1Warn 1
2025-06-30 Q2Warn 1
2025-09-30 Q3Errors 1Warn 1
2025-12-31 FYWarn 1
2025-12-31 Q4Warn 1
2026-03-31 Q1Errors 1Warn 2
All checks pass · Has warnings (review) · Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK151.3
y/y -8.7%
11.2
y/y -17.8%
14.1
y/y -4.0%
25.3
y/y -10.6%
-13.1
y/y
-5.6-9.91198.9
y/y -12.1%
336.0
y/y -27.3%
-15.5%393.3
2025-12-31Q4 2025 (3M)OK161.6
y/y -10.2%
41.4
y/y -47.1%
12.3
y/y -2.0%
53.7
y/y -40.9%
-87.6
y/y -1892.9%
27.4-10.31197.3
y/y -11.7%
340.4
y/y -28.3%
-35.2%366.7
2025-09-30Q3 2025 (3M)OK164.9
y/y -8.3%
20.2
y/y -23.3%
14.7
y/y -11.5%
34.9
y/y -18.8%
-17.1
y/y
6.2-7.61280.3
y/y -7.4%
428.3
y/y -6.2%
-5.2%288.0
2025-06-30Q2 2025 (3M)OK163.6
y/y -9.7%
25.4
y/y
14.0
y/y -14.6%
39.4
y/y
-16.3
y/y
8.8-13.31347.8
y/y -0.7%
444.5
y/y -4.9%
-14.4%234.6
2025-03-31Q1 2025 (3M)OK165.8
y/y -9.7%
13.6
y/y -53.2%
14.7
y/y -14.6%
28.3
y/y -38.8%
-14.4
y/y
30.5-7.01364.1
y/y 0.4%
461.9
y/y -8.1%
-12.3%233.3
2024-12-31Q4 2024 (3M)OK179.9
y/y -4.4%
78.3
y/y 188.9%
12.5
y/y -65.0%
90.8
y/y 44.4%
-4.4
y/y -293.7%
29.6-3.51355.4
y/y -0.2%
474.9
y/y -6.1%
-16.0%332.5
2024-09-30Q3 2024 (3M)OK179.8
y/y -5.7%
26.3
y/y
16.6
y/y 179.7%
43.0
y/y
-10.5
y/y
49.4-6.31382.9
y/y -1.2%
456.9
y/y 7.3%
-3.0%537.2
2024-06-30Q2 2024 (3M)OK181.2
y/y -8.4%
-26.4
y/y
16.4
y/y -26.4%
-9.9
y/y -185.9%
-54.3
y/y
17.2-7.11357.8
y/y -10.1%
467.6
y/y -25.0%
-44.8%567.5
2024-03-31Q1 2024 (3M)OK183.5
y/y -5.5%
29.0
y/y 709.6%
17.2
y/y 229.1%
46.3
y/y 424.5%
-5.2
y/y
36.3-6.51358.7
y/y -12.4%
502.8
y/y -17.1%
-4.1%404.5
2023-12-31Q4 2023 (3M)PARTIAL188.2
y/y
27.1
y/y
35.8
y/y
62.9
y/y
2.3
y/y
-3.3-5.31358.5
y/y
505.7
y/y
-37.7%401.6
2023-09-30Q3 2023 (3M)OK190.6
y/y
-107.8
y/y
5.9
y/y
-101.8
y/y
-113.4
y/y
40.6-13.21399.2
y/y
425.9
y/y
-28.8%579.5
2023-06-30Q2 2023 (3M)OK197.9
y/y
-10.8
y/y
22.3
y/y
11.6
y/y
-36.5
y/y
18.0-18.21511.2
y/y
623.4
y/y
-23.8%593.1
2023-03-31Q1 2023 (3M)OK194.2
y/y
3.6
y/y
5.2
y/y
8.8
y/y
-27.8
y/y
3.3-21.11550.6
y/y
606.7
y/y
587.2
Data quality — review suggested

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-500501001502002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%0%200%400%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-20020402023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

02004006002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Cannabis Spot Index

Current 1 044spot vs LTM -2%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +79.0%

Main driver: Cannabis Spot Index -2% vs LTM; revenue ×0.98 vs costs ×1.04; EBITDA 153→125; at 7.8× EV/EBITDA → +79%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Cannabis Spot Index (rev)+100%1 044.001 060.681 055.70-2%-0%
Electricity Spot (cost)-5%57.8058.5652.39-1%-11%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue641
LTM EBITDA153
LTM cash costs (revenue − EBITDA)488
2 · Revenue projection
Revenue multiplier — spot×0.984 (-2%)
= Spot revenue631
Revenue multiplier — 3y price×0.995 (-0%)
= 3-year-price revenue638
3 · Costs projection
Cost multiplier — spot×1.037 (+4%)
= Spot cash costs506
Cost multiplier — 3y price×1.033 (+3%)
= 3-year-price cash costs504
4 · EBITDA projection (revenue − costs)
= Spot EBITDA125
= 3-year-price EBITDA134
Conservative EBITDA = min(spot, avg)125
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)7.8x
Target EV = EV/EBITDA × conservative EBITDA973
Net debt393
Target market cap = EV − net debt579
Current market cap324

Upside = target market cap ÷ current − 1 = +79.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2198209-5.2%1227-57.9%
2023 Q3191197-3.1%-10212-936.1%
2023 Q4193209-7.7%50-7
2024 Q1183196-6.5%46-9
2024 Q2181189-4.3%-10-6
2024 Q3180181-0.5%43-15
2024 Q4180174+3.7%2917+70.3%
2025 Q1166172-3.4%2813+121.0%
2025 Q2164179-8.7%3920+94.3%
2025 Q3165194-14.8%3552-33.0%
2025 Q4162188-13.9%5447+14.0%
2026 Q1151164-7.9%2536-29.8%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 4.3x · target 3-yr avg 7.8x · LTM avg 6.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)