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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1455
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$913M
Irwin D. Simon
Tilray Brands Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. It operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development. The company operates Tilray Medical, which provides GMP-certified flowers, oils, vapes, edibles, and topicals.
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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 | |
$TLRY Tilray Brands, Inc. | 54 | 50 | 55 | 98 | - | - | -59.5% | -43.9% | 27.7% | -109.6% | -121.7% | 8.7% | 0.0% | 36.0x | $913M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
Tilray Brands, Inc. (TLRY) receives a "Hold" rating with a composite score of 53.5/100. It ranks #1455 out of 7,333 stocks in our coverage universe and carries a 3-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
Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
High volatility — wider range of outcomes increases timing risk
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 TLRY.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
Irwin D. Simon
Chief Executive Officer
Labor Force
1,700
50
30
21
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for TLRY
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 50 | 31 | +19ALPHA |
| MOMENTUM | 98 | 99 | -1NEUTRAL |
| VALUATION | 55 | 35 | +20ALPHA |
| INVESTMENT | 30 | 35 | -5NEUTRAL |
| STABILITY | 21 | 4 | +17ALPHA |
| SHORT INT | 39 | 31 | +8ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy -59.5% (sector -2.5%)
GM 28% vs sector 43%, OM -110% vs sector 1%
Capital turnover N/A, R&D intensity 0.0%
Rev growth 9%, 8yr 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.
Our model assigns Tilray Brands, Inc. a Hold rating, with a composite score of 53.5/100 and 3 out of 5 stars. Ranked #1455 of 7,333 stocks, TLRY presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 50/100, TLRY shows adequate but unremarkable business quality. The company reports a return on equity of -59.5% (sector avg: -2.5%), gross margins of 27.7% (sector avg: 42.5%), net margins of -121.7% (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.
TLRY's value score of 55/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/B ratio of 0.58x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
Tilray Brands, Inc.'s investment score of 30/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 8.7% vs. a sector average of 5.9% and a return on assets of -43.9% (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.
Tilray Brands, Inc. (TLRY) is exhibiting exceptional momentum with a score of 98/100, placing it among the strongest trending stocks in the market. Revenue growth stands at 8.7% year-over-year, while a beta of 1.93 reflects its sensitivity to broader market moves. Stocks with momentum scores this high have historically outperformed over the following 3–12 months, suggesting TLRY may continue to benefit from strong institutional interest and positive price trends.
Tilray Brands, Inc. registers a low stability score of 21/100, indicating high volatility and potentially stressed financial conditions. Key stability metrics include a beta of 1.93 and a debt-to-equity ratio of 36.00x (sector avg: 0.2x). Stocks at this level carry elevated capital loss risk and may be unsuitable for conservative portfolios without careful risk management.
Tilray Brands, Inc.'s short interest score of 39/100 reveals significant bearish positioning, suggesting institutional investors are actively betting against the stock. Specific risk factors include high market sensitivity (beta: 1.93), elevated leverage (D/E: 36.00x), small-cap liquidity risk. At $913M (small-cap), TLRY carries meaningful risk and is best suited for investors with high risk tolerance who have thoroughly evaluated the bear thesis.
Tilray Brands, Inc. is a small-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #1455 of 7,333 overall (80th percentile). Key comparisons include ROE of -59.5% trailing the -2.5% sector median and operating margins of -109.6% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While TLRY currently exhibits a HOLD 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.
View Top Manufacturing Alpha →Quant Factor Profile
Key factor gap
Momentum (98) vs Stability (21) — closing this gap could shift the rating.
ROE 2301% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 35% BELOW SECTOR MEDIAN
Op. Margin 8594% BELOW SECTOR MEDIAN
AUDIT DATA AS OF NOV 30, 2025 (Q3 FY2025)
We rate Tilray Brands, Inc. (TLRY) as a Hold with a composite score of 53.5/100 at a current price of $7.91. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling for existing holders. Our factors are split, and the overall profile suggests patience is warranted.
The rating is primarily driven by strength in momentum (98th percentile) and value (55th percentile), which together account for the majority of the composite score. Offsetting weakness in stability (21th percentile) and investment (30th percentile) tempers our overall conviction. We assign a No Moat rating (18/100), Very High uncertainty, and Poor capital allocation.
Key items to watch: 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.
Tilray Brands, 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 53.5/100 places it at rank #1455 in our full 7,333-stock universe. At $913M in market capitalization, Tilray Brands, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
The outlook is moderately positive, with revenue expanding at 9% and favorable momentum (98th percentile) reflecting constructive market sentiment. The business shows steady execution, though the growth rate is below the levels typically associated with high-conviction growth stories. Momentum confirmation provides support for the current price level.
The margin cascade tells an important story: gross margins of 28% (-14.8pp vs sector) narrow to operating margins of -110% (-110.9pp vs sector) and net margins of -121.7%, yielding a gross-to-net conversion rate of -439%. 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 $7.91, Tilray Brands, Inc. is trading near fair value based on current fundamentals. Our value factor score of 55/100 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. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at P/B of 0.6x, P/S of 1.1x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Positive momentum (98th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
Thin net margins of -121.7% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
High beta of 1.93 means amplified losses in market selloffs — in a broad market correction, this stock would likely decline more than the index.
We assign a Very High uncertainty rating to Tilray Brands, Inc.. The stock exhibits multiple compounding risk factors: elevated market sensitivity (beta of 1.93), current negative profitability (net margin -121.7%), below-average price stability (21th percentile). The extreme uncertainty around future cash flows makes precise valuation difficult, and the range of outcomes is exceptionally wide. Only investors with high risk tolerance and extended time horizons should consider this name.
Specific risk factors that inform our assessment include: elevated market sensitivity (beta of 1.93); current negative profitability (net margin -121.7%); below-average price stability (21th percentile). 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 21th percentile and quality factor at the 50th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our very high uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate Tilray Brands, Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-59.5%), negative profitability, weak asset returns (ROA -43.9%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — Tilray Brands, 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, Tilray Brands, Inc. receives a Hold rating with a composite score of 53.5/100 (rank #1455 of 7,333). Our quantitative framework assigns a No Moat (18/100, trend: stable), Very High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 51/100.
Our analysis supports a neutral stance on Tilray Brands, Inc.. While the quantitative profile is not weak enough to warrant selling, it lacks the multi-factor strength required for a buy recommendation. Existing holders should maintain positions and monitor for catalysts — either fundamental improvement or valuation compression — that would shift the risk-reward balance.
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 Tilray Brands, Inc. a meaningful economic moat, scoring 18/100 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 8/20.
The strongest moat sources are growth durability (8/20) and financial resilience (5.7/20). Rev growth 9%, 8yr history. Interest coverage N/A. These pillars form the core of Tilray Brands, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include economic value creation (0/20) and reinvestment efficiency (0/20). ROE proxy -59.5% (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 Tilray Brands, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include moderate revenue growth of 9%. The margin cascade from 28% gross to -110% operating to -121.7% 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 28%, operating margins of -110%, net margins of -121.7%. Return metrics include ROE of -59.5% and ROA of -43.9%. Relative to the Manufacturing sector, gross margins are 14.8 percentage points below the sector median of 43%, and ROE of -59.5% compares to a sector median of -2.5%.
The balance sheet reflects moderate leverage with D/E of 36%, revenue growth of 9%. The sector median D/E is 0%, putting Tilray Brands, Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
Tilray's stock continues to face significant headwinds despite announcing an exclusive, multi-year licensing deal with Carlsberg for beer distribution in the U.S., starting in 2027. Investors are more focused on immediate financial challenges and the company's persistent share price weakness, which has seen a 97% decline over five years due to factors like share dilution and a recent reverse stock split. While the company reported record Q2 2026 revenue driven by cannabis sales, its beverage segment declined, and analyst sentiment remains cautious.
Tilray Brands has signed an exclusive brewing and licensing agreement with Carlsberg Group for the US market, set to begin on January 1, 2027. This multi-year deal grants Tilray the rights to produce, market, sell, and distribute Carlsberg, Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc branded beers across all US channels. Tilray will leverage its existing brewing facilities and commercial expertise to expand Carlsberg's presence in the US premium European beer segment.
Tilray Brands, Inc. announced an exclusive licensing agreement with Carlsberg Group to produce and distribute several Carlsberg beer brands in the U.S. starting January 1, 2027. This multi-year deal is expected to strengthen Tilray's position in the U.S. beer market as the fourth-largest craft beer brewer. Tilray also reported record net revenue of $217.5 million for fiscal Q2 2026, surpassing forecasts.
Tilray Brands has entered into an exclusive multi-year licensing agreement with Carlsberg Group to produce, market, sell, and distribute several of Carlsberg's beer brands in the U.S., effective January 1, 2027. This partnership is expected to drive scale, revenue accretion for Tilray, and enhance asset utilization through its brewing facilities and commercial expertise. The deal has an initial five-year term with an automatic five-year renewal contingent on performance criteria, further strengthening Tilray's diversified beverage platform.
Tilray Brands, despite expanding into hemp products and alcoholic beverages beyond cannabis, continues to struggle with profitability. The company's aggressive acquisition strategy has driven revenue growth but resulted in rising share dilution and write-downs across divisions. Analysts recommend caution until the company demonstrates sustainable earnings.