Trulieve's NYSE Listing Is Historic. But Is the Stock Still Worth Buying?

Trulieve Cannabis (NYSE: TRLV) conscionable accomplished thing nary different U.S. cannabis relation has managed to do.

Earlier this month, the institution became the archetypal U.S. plant-touching cannabis concern to database connected the New York Stock Exchange. That's a important milestone for an manufacture that has spent years mostly confined to Canadian exchanges and over-the-counter markets.

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But portion the listing itself is historic, it doesn't needfully mean you should tally retired and bargain the stock. At slightest not based connected the caller listing alone.

What does Trulieve truly offer?

Unlike galore cannabis companies that struggled to execute profitability during the industry's aboriginal maturation phase, Trulieve has been generating nett and meaningful escaped currency travel since 2021.

During its astir caller quarter, the institution reported a mostly accepted accounting principles (GAAP) gross nett of $170 million, a gross borderline of 59%, and $42 cardinal successful escaped currency flow.

That's not insignificant for this market.

Worth noting: Trulieve presently operates 240 retail dispensaries and implicit 4 cardinal quadrate feet of cultivation and processing capableness successful the United States, making it 1 of the largest cannabis retailers successful the United States.

Discipline matters

Many cannabis operators inactive transportation important indebtedness burdens from the industry's accelerated enlargement years. Trulieve isn't immune to those challenges, but it is successful a stronger fiscal presumption than galore of its peers, and the NYSE listing could supply different benefit.

For years, galore organization investors, pension funds, and wealthiness managers either could not oregon would not put successful U.S. cannabis operators due to the fact that they traded connected OTC markets. A large speech listing removes 1 of those barriers and could amended liquidity, expert coverage, and organization information implicit time.

Of course, nary of that guarantees higher stock prices. The cannabis manufacture inactive faces important challenges.

Revenue maturation has slowed, with Trulieve generating $1.18 cardinal during 2025, fundamentally level from 2024. Price compression remains a occupation successful respective markets, too, and regulatory uncertainty has not disappeared simply due to the fact that 1 institution reached the NYSE.

There's besides the question of valuation.

At a marketplace worth of astir $2.2 billion, Trulieve trades astatine little than 2 times yearly gross and conscionable implicit 5 times adjusted net earlier interest, taxes, depreciation, and amortization (EBITDA).