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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3489
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$191M
Beena G. Goldenberg
Organigram Holdings Inc. produces and sells cannabis and cannabis-derived products in Canada. It sells its products through online, as well as telephone channels. The company also engages in the wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis derivative based products.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$OGI ORGANIGRAM HOLDINGS INC. | 40 | 50 | 23 | 38 | - | - | -28.4% | -17.6% | 23.3% | -7.8% | -10.9% | 38.4% | 0.0% | 0.0x | $191M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
ORGANIGRAM HOLDINGS INC. (OGI) receives a "Reduce" rating with a composite score of 40.4/100. It ranks #3489 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Beena G. Goldenberg
Chief Executive Officer
Labor Force
860
50
32
49
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for OGI
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for OGI.
View All RatingsImproving capital utilization rates confirmed
High margin volatility — erratic forensic earnings quality
ROE proxy -28.4% (sector -2.5%)
GM 23% vs sector 43%, OM -8% vs sector 1%
Capital turnover N/A, R&D intensity 4.8%
Rev growth 38%, 6yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
ORGANIGRAM HOLDINGS INC. receives a Reduce rating from our analysis, with a composite score of 40.4/100 and 2 out of 5 stars, ranking #3489 out of 7,333 stocks. OGI's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
With a quality score of 50/100, OGI shows adequate but unremarkable business quality. The company reports a return on equity of -28.4% (sector avg: -2.5%), gross margins of 23.3% (sector avg: 42.5%), net margins of -10.9% (sector avg: -0.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
OGI registers a value score of just 23/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 0.78x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
ORGANIGRAM HOLDINGS INC.'s investment score of 32/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 38.4% vs. a sector average of 5.9% and a return on assets of -17.6% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
OGI is currently showing below-average momentum at 38/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth stands at 38.4% year-over-year, while a beta of 1.06 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
With a stability score of 49/100, OGI exhibits average financial resilience. Key stability metrics include a beta of 1.06 and a debt-to-equity ratio of 0.00x (sector avg: 0.2x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
The short interest score of 55/100 for OGI suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include micro-cap liquidity risk. With a $191M market cap (micro-cap), ORGANIGRAM HOLDINGS INC. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
ORGANIGRAM HOLDINGS INC. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3489 of 7,333 overall (52nd percentile). Key comparisons include ROE of -28.4% trailing the -2.5% sector median and operating margins of -7.8% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While OGI currently exhibits a REDUCE profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Value (23) would have the largest impact on the composite score.
ROE 1044% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 45% BELOW SECTOR MEDIAN
Op. Margin 709% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate ORGANIGRAM HOLDINGS INC. (OGI) as a Reduce with a composite score of 40.4/100 at a current price of $1.45. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential and elevated risk of underperformance relative to peers over the next 12 months.
The rating is primarily driven by strength in quality (50th percentile) and stability (49th percentile), which together account for the majority of the composite score. Offsetting weakness in value (23th percentile) and investment (32th percentile) tempers our overall conviction. We assign a No Moat rating (24/100), High uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; sustainability of the current growth rate; the path to profitability. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
ORGANIGRAM HOLDINGS INC. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 40.4/100 places it at rank #3489 in our full 7,333-stock universe. At $191M in market capitalization, ORGANIGRAM HOLDINGS INC. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue is growing at 38%, though momentum at the 38th percentile suggests the market has not yet fully recognized this trajectory. This potential disconnect between fundamental improvement and market recognition could represent an opportunity for patient investors if the growth trend persists.
The margin cascade tells an important story: gross margins of 23% (-19.2pp vs sector) narrow to operating margins of -8% (-9.1pp vs sector) and net margins of -10.9%, yielding a gross-to-net conversion rate of -47%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $1.45, ORGANIGRAM HOLDINGS INC. is trading at a premium to fundamental value. Our value factor score of 23/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 0.8x, P/S of 0.3x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Revenue growth of 38% confirms the business is expanding its addressable market — growth at this level typically supports multiple expansion and attracts institutional capital.
A conservative balance sheet (0% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
The Reduce rating (composite 40.4/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Thin net margins of -10.9% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
We assign a High uncertainty rating to ORGANIGRAM HOLDINGS INC.. Key risk factors include current negative profitability (net margin -10.9%). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: current negative profitability (net margin -10.9%). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 49th percentile and quality factor at the 50th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: conservative leverage (0% D/E) limits balance sheet risk. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile warrants caution and disciplined position management.
We rate ORGANIGRAM HOLDINGS INC.'s capital allocation as Poor. Key concerns include low returns on equity (-28.4%), negative profitability, weak asset returns (ROA -17.6%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — ORGANIGRAM HOLDINGS INC. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, ORGANIGRAM HOLDINGS INC. receives a Reduce rating with a composite score of 40.4/100 (rank #3489 of 7,333). Our quantitative framework assigns a No Moat (24/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 38/100.
Our analysis does not support a constructive view on ORGANIGRAM HOLDINGS INC. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign ORGANIGRAM HOLDINGS INC. a meaningful economic moat, scoring 24/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, growth durability, reached only 11.8/20.
The strongest moat sources are growth durability (11.8/20) and financial resilience (7/20). Rev growth 38%, 6yr history. Interest coverage N/A. These pillars form the core of ORGANIGRAM HOLDINGS INC.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include economic value creation (0.2/20) and reinvestment efficiency (1.7/20). ROE proxy -28.4% (sector -2.5%). Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect ORGANIGRAM HOLDINGS INC.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include robust top-line growth of 38% expanding the revenue base. The margin cascade from 23% gross to -8% operating to -10.9% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 50th percentile.
The margin profile shows gross margins of 23%, operating margins of -8%, net margins of -10.9%. Return metrics include ROE of -28.4% and ROA of -17.6%. Relative to the Manufacturing sector, gross margins are 19.2 percentage points below the sector median of 43%, and ROE of -28.4% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 0%, revenue growth of 38%. The sector median D/E is 0%, putting ORGANIGRAM HOLDINGS INC. in a relatively stronger balance sheet position. Overall balance sheet health is adequate for the current business environment.
TORONTO, February 19, 2026--Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), (the "Company" or "Organigram"), a leading global cannabis company, today announced that it has entered into a subscription agreement (the "Subscription Agreement") with BT DE Investments Inc. ( "BAT"), a wholly-owned subsidiary of British American Tobacco p.l.c. (LSE: BATs and NYSE: BTI), in connection with its previously announced proposed acquisition (the "Acquisition") of Sanity Group GmbH ("Sanity" or "Sanity Group
TORONTO, February 18, 2026--Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce that it has entered into a definitive agreement (the "Purchase Agreement") to acquire (the "Acquisition") all the issued and outstanding shares of Sanity Group GmbH ("Sanity" or "Sanity Group") not currently owned by Organigram.
Operator: Hello, everyone. Thank you for joining us, and welcome to the Organigram Global Q1 Fiscal 2026 Earnings Call.
Organigram Holdings Inc. announced the acquisition of Motif Labs Ltd. for CA$90 million, solidifying its position as Canada's largest cannabis company by market share. The deal enhances Organigram's capabilities and expands its presence nationwide, positioning it for international growth.
Village Farms, a NASDAQ-listed cannabis company, is focused on growing its international business, particularly in Germany, Australia, and the UK. The company's sales margins are recovering, and it plans to prioritize its branded domestic cannabis business and international sales.
Above 50MA
37.18%
Net New Highs
+51081