Finance

Revealed: North America’s Top‑Grossing Cannabis Operators

A small number of industry giants have continued to dominate North American legal cannabis revenue—reporting sales in the hundreds of millions to over a billion dollars annually.

Evaluating Investment Risk in Major Cannabis Companies

The landscape of publicly traded cannabis giants—such as Curaleaf, Canopy Growth, Tilray, Green Thumb and Trulieve—reflects a sobering recalibration rather than a gilded opportunity. Once collectively valued at around US$37 billion in early 2021, these companies now carry a combined market cap of roughly US$4 billion, with valuation multiples averaging just over 1× forward sales.