Tilray (TLRY) Financials

$0.44 0.00 (-1.03%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$0.44 0.00 (-0.09%)

As of 05/23/2025 07:59 PM Eastern

Annual Income Statements for Tilray

This table shows Tilray's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021
Net Income / (Loss) Attributable to Common Shareholders	-245	-1,453	-477	-367
Consolidated Net Income / (Loss)	-222	-1,443	-434	-336
Net Income / (Loss) Continuing Operations	-222	-1,443	-434	-336
Total Pre-Tax Income	-249	-1,450	-441	-345
Total Operating Income	-175	-1,370	-610	-132
Total Gross Profit	223	147	117	123
Total Revenue	789	627	628	513
Operating Revenue	789	627	628	513
Total Cost of Revenue	566	480	512	390
Operating Cost of Revenue	566	480	512	390
Total Operating Expenses	398	1,517	727	255
Selling, General & Admin Expense	205	200	198	138
Marketing Expense	42	31	31	18
Research & Development Expense	0.64	0.68	1.52	0.83
Amortization Expense	85	93	115	35
Other Operating Expenses / (Income)	58	248	31	60
Impairment Charge	0.00	934	378	0.00
Restructuring Charge	16	9.25	0.80	0.00
Other Special Charges / (Income)	-7.54	0.35	-28	3.25
Total Other Income / (Expense), net	-74	-80	170	-213
Interest & Investment Income	-36	-14	-28	-28
Other Income / (Expense), net	-38	-67	198	-185
Income Tax Expense	-27	-7.18	-6.54	-8.97
Net Income / (Loss) Attributable to Noncontrolling Interest	23	9.66	43	31
Basic Earnings per Share	($0.33)	($2.35)	($0.99)	($1.36)
Weighted Average Basic Shares Outstanding	742.65M	617.98M	481.22M	269.55M
Diluted Earnings per Share	($0.33)	($2.35)	($0.99)	($1.36)
Weighted Average Diluted Shares Outstanding	742.65M	617.98M	481.22M	269.55M
Weighted Average Basic & Diluted Shares Outstanding	842.96M	703.26M	536.39M	449.22M

This table shows Tilray's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	8/31/2023	5/31/2023	2/29/2024	11/30/2023	8/31/2022	5/31/2022	2/28/2023
Net Income / (Loss) Attributable to Common Shareholders	-789	-85	-39	-72	-1,237	-93	-49	-73	805	-1,171
Consolidated Net Income / (Loss)	-794	-85	-35	-56	-1,226	-105	-46	-66	858	-1,196
Net Income / (Loss) Continuing Operations	-794	-85	-35	-56	-1,219	-105	-46	-66	881	-1,196
Total Pre-Tax Income	-792	-83	-34	-49	-1,234	-108	-50	-59	869	-1,207
Total Operating Income	-760	-42	-37	-34	-1,225	-82	-42	-21	717	-1,207
Total Gross Profit	52	61	60	44	1.54	49	47	49	35	-12
Total Revenue	186	211	200	177	92	188	194	153	171	146
Operating Revenue	186	211	200	177	92	188	194	153	171	146
Total Cost of Revenue	134	150	140	133	90	139	146	105	136	157
Operating Cost of Revenue	134	150	140	133	90	139	146	105	136	157
Total Operating Expenses	812	103	96	79	1,226	131	89	70	-683	1,195
Selling, General & Admin Expense	53	62	56	47	49	50	51	50	48	45
Marketing Expense	6.79	9.72	12	8.54	3.29	11	9.21	7.25	9.58	7.35
Research & Development Expense	0.09	0.06	0.11	0.08	0.35	0.11	0.06	0.17	0.40	0.17
Amortization Expense	23	23	22	22	26	22	22	24	-	24
Other Operating Expenses / (Income)	21	0.80	1.16	8.50	214	46	1.09	-13	-	187
Impairment Charge	699	-	-	-	-	0.00	-	-	-	934
Restructuring Charge	6.13	6.87	4.25	0.92	1.41	5.18	2.66	0.00	-34	2.66
Other Special Charges / (Income)	2.76	0.90	1.60	-9.07	-1.03	-2.62	3.34	0.66	-28	-4.88
Total Other Income / (Expense), net	-32	-41	2.80	-14	-9.53	-26	-7.80	-37	152	0.17
Interest & Investment Income	-8.38	-7.77	-9.84	-9.84	7.97	-8.52	-8.63	-4.41	-14	-1.04
Other Income / (Expense), net	-24	-33	13	-4.40	-17	-17	0.82	-33	165	1.21
Income Tax Expense	1.20	2.04	0.89	7.26	-15	-2.87	-3.38	7.21	-12	-11
Net Income / (Loss) Attributable to Noncontrolling Interest	-4.10	0.07	4.51	16	11	-12	2.83	7.69	53	-25
Basic Earnings per Share	($0.87)	($0.10)	($0.04)	($0.10)	($2.03)	($0.12)	($0.07)	($0.13)	$1.10	($1.90)
Weighted Average Basic Shares Outstanding	908.34M	864.97M	875.44M	691.19M	617.98M	754.44M	730.77M	575.30M	481.22M	615.53M
Diluted Earnings per Share	($0.87)	($0.10)	($0.04)	($0.10)	($2.03)	($0.12)	($0.07)	($0.13)	$1.10	($1.90)
Weighted Average Diluted Shares Outstanding	908.34M	864.97M	875.44M	691.19M	617.98M	754.44M	730.77M	575.30M	481.22M	615.53M
Weighted Average Basic & Diluted Shares Outstanding	1.01B	937.66M	903.29M	730.29M	703.26M	774.03M	742.73M	-	536.39M	618.01M

This table details how cash moves in and out of Tilray's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021
Net Change in Cash & Equivalents	22	-209	-73	128
Net Cash From Operating Activities	-31	7.91	-177	-45
Net Cash From Continuing Operating Activities	-31	7.91	-177	-45
Net Income / (Loss) Continuing Operations	-222	-1,443	-434	-336
Consolidated Net Income / (Loss)	-222	-1,443	-434	-336
Amortization Expense	127	130	155	68
Non-Cash Adjustments To Reconcile Net Income	128	1,337	266	319
Changes in Operating Assets and Liabilities, net	-64	-17	-164	-96
Net Cash From Investing Activities	128	-285	-22	46
Net Cash From Continuing Investing Activities	128	-285	-22	46
Purchase of Property, Plant & Equipment	-29	-21	-34	-39
Acquisitions	-61	-27	0.33	67
Purchase of Investments	210	-242	0.00	0.00
Sale of Property, Plant & Equipment	8.51	4.30	12	6.61
Net Cash From Financing Activities	-75	70	128	124
Net Cash From Continuing Financing Activities	-75	70	128	124
Repayment of Debt	-135	-203	-119	-66
Payment of Dividends	0.00	0.00	-7.48	-24
Issuance of Debt	54	146	0.00	111
Issuance of Common Equity	8.62	130	263	103
Other Financing Activities, net	-2.90	-2.30	-7.96	0.14
Other Net Changes in Cash	-0.55	-2.23	-1.96	-

This table details how cash moves in and out of Tilray's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	8/31/2023	5/31/2023	2/29/2024	11/30/2023	8/31/2022	5/31/2022	2/28/2023
Net Change in Cash & Equivalents	10	-15	-23	-28	-149	1.30	-136	75	178	-25
Net Cash From Operating Activities	-5.76	-41	-35	-16	70	-15	0.02	-46	-142	-19
Net Cash From Continuing Operating Activities	-5.76	-41	-35	-16	70	-15	0.02	-46	-142	-19
Net Income / (Loss) Continuing Operations	-794	-85	-35	-56	-1,236	-105	-36	-66	889	-1,196
Consolidated Net Income / (Loss)	-794	-85	-35	-56	-1,236	-105	-36	-66	889	-1,196
Amortization Expense	34	34	32	31	35	33	28	34	53	34
Non-Cash Adjustments To Reconcile Net Income	749	28	3.92	15	1,234	88	-13	29	-977	1,189
Changes in Operating Assets and Liabilities, net	4.74	-17	-36	-5.48	36	-31	21	-43	-107	-46
Net Cash From Investing Activities	-0.12	-11	-49	-26	-368	28	57	-1.54	256	-4.59
Net Cash From Continuing Investing Activities	-0.12	-11	-49	-26	-368	28	57	-1.54	256	-4.59
Purchase of Property, Plant & Equipment	-14	-5.44	-6.74	-4.15	-1.26	-9.53	-7.01	-3.00	-26	-0.86
Purchase of Investments	14	12	-43	-45	-404	37	125	0.00	243	-
Sale of Property, Plant & Equipment	0.20	0.60	0.03	0.34	3.14	0.80	-1.10	1.46	10	0.02
Net Cash From Financing Activities	18	38	61	14	152	-11	-195	124	64	-2.44
Net Cash From Continuing Financing Activities	18	38	61	14	152	-11	-195	124	64	-2.44
Repayment of Debt	-13	-5.98	-5.02	-6.37	-70	-8.14	-120	-5.20	-54	-1.33
Issuance of Debt	3.45	-	0.00	20	92	-	53	1.45	-1.29	-
Issuance of Common Equity	28	45	66	0.00	130	-	-130	130	133	-
Other Financing Activities, net	-0.86	-0.86	-0.86	0.00	0.47	-2.77	2.13	-2.22	-5.65	-1.11
Other Net Changes in Cash	-1.93	-2.24	0.96	0.61	-2.43	-	1.79	-1.08	-0.34	-

This table presents Tilray's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021
Total Assets	4,222	4,307	5,450	6,025
Total Current Assets	678	773	804	884
Cash & Equivalents	228	207	416	488
Short-Term Investments	32	242	0.00	-
Accounts Receivable	102	86	95	87
Inventories, net	252	201	246	256
Prepaid Expenses	31	38	47	49
Other Current Assets	32	0.00	-	-
Plant, Property, & Equipment, net	0.00	0.00	0.00	651
Total Noncurrent Assets	3,544	3,534	4,646	4,491
Long-Term Investments	7.86	12	15	18
Noncurrent Note & Lease Receivables	32	103	111	0.00
Goodwill	2,009	2,009	2,641	2,833
Intangible Assets	915	974	1,278	1,606
Other Noncurrent Operating Assets	580	436	601	35
Total Liabilities & Shareholders' Equity	4,222	4,307	5,450	6,025
Total Liabilities	778	977	1,008	1,560
Total Current Liabilities	299	433	280	401
Short-Term Debt	49	238	102	106
Accounts Payable	242	191	157	213
Other Current Liabilities	8.34	4.24	21	82
Total Noncurrent Liabilities	479	544	728	1,159
Long-Term Debt	288	358	520	835
Noncurrent Deferred & Payable Income Tax Liabilities	131	167	197	266
Other Noncurrent Operating Liabilities	61	19	12	3.91
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,443	3,330	4,441	4,465
Total Preferred & Common Equity	3,443	3,316	4,399	4,459
Preferred Stock	0.00	0.00	-	-
Total Common Equity	3,443	3,316	4,399	4,459
Common Stock	6,147	5,778	5,382	4,792
Retained Earnings	-2,660	-2,416	-963	-486
Accumulated Other Comprehensive Income / (Loss)	-43	-47	-21	153
Other Equity Adjustments	0.00	-	-	-
Noncontrolling Interest	0.27	14	43	6.24

This table presents Tilray's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q1 2024	Q3 2023	Q2 2023	Q3 2022
Period end date	11/30/2024	8/31/2024	8/31/2023	2/29/2024	11/30/2023	2/28/2023
Total Assets	4,192	4,262	4,402	4,213	4,331	4,376
Total Current Assets	707	726	829	631	642	759
Cash & Equivalents	190	205	178	146	143	165
Short-Term Investments	63	75	287	80	116	243
Accounts Receivable	113	104	82	90	91	78
Inventories, net	266	264	232	244	253	203
Prepaid Expenses	45	45	45	43	37	69
Other Current Assets	31	33	3.70	29	0.74	-
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	3,484	3,536	3,573	3,582	3,689	3,617
Long-Term Investments	7.42	7.85	12	8.06	13	12
Noncurrent Note & Lease Receivables	32	32	75	32	75	168
Goodwill	2,001	2,010	2,010	2,010	2,010	2,006
Intangible Assets	867	909	968	930	953	994
Other Noncurrent Operating Assets	578	578	509	602	638	437
Total Liabilities & Shareholders' Equity	4,192	4,262	4,402	4,213	4,331	4,376
Total Liabilities	738	778	1,001	870	937	969
Total Current Liabilities	279	294	537	329	395	470
Short-Term Debt	49	49	287	111	169	296
Accounts Payable	222	236	238	210	217	163
Other Current Liabilities	8.27	8.20	12	8.61	8.81	9.94
Total Noncurrent Liabilities	460	485	463	541	542	489
Long-Term Debt	272	288	273	292	293	313
Noncurrent Deferred & Payable Income Tax Liabilities	126	136	170	161	166	164
Other Noncurrent Operating Liabilities	62	61	21	87	83	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,454	3,483	3,402	3,343	3,393	3,407
Total Preferred & Common Equity	3,473	3,478	3,379	3,359	3,368	3,404
Preferred Stock	0.00	0.00	0.00	0.00	0.00	-
Total Common Equity	3,473	3,478	3,379	3,359	3,368	3,404
Common Stock	6,306	6,218	5,910	6,031	5,943	5,723
Retained Earnings	-2,785	-2,700	-2,487	-2,629	-2,536	-2,277
Treasury Stock	0.00	-	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	-48	-40	-44	-43	-38	-43
Noncontrolling Interest	-19	5.32	22	-16	25	3.11

This table displays calculated financial ratios and metrics derived from Tilray's official financial filings.

Metric	2024	2023	2022	2021
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021
Growth Metrics	-	-	-	-
Revenue Growth	25.80%	-0.20%	22.47%	26.59%
EBITDA Growth	93.44%	-406.10%	-3.60%	-237.57%
EBIT Growth	85.20%	-248.07%	-30.20%	-189.55%
NOPAT Growth	87.24%	-124.39%	-361.83%	-27.08%
Net Income Growth	84.59%	-232.39%	-29.20%	-233.24%
EPS Growth	85.96%	-137.37%	27.21%	-189.36%
Operating Cash Flow Growth	-490.91%	104.46%	-296.41%	55.56%
Free Cash Flow Firm Growth	-181.03%	297.93%	97.27%	-465.76%
Invested Capital Growth	1.34%	-25.20%	-6.50%	315.74%
Revenue Q/Q Growth	0.00%	-11.17%	4.73%	-17.54%
EBITDA Q/Q Growth	0.00%	-256.11%	79.31%	-48.23%
EBIT Q/Q Growth	0.00%	-308.73%	66.92%	-36.15%
NOPAT Q/Q Growth	0.00%	-266.34%	56.45%	-861.84%
Net Income Q/Q Growth	0.00%	-325.15%	65.50%	-66.06%
EPS Q/Q Growth	0.00%	-401.28%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	103.89%	-545.93%	8.94%
Free Cash Flow Firm Q/Q Growth	0.00%	-68.89%	97.70%	-887.82%
Invested Capital Q/Q Growth	0.00%	-1.34%	28.47%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	28.31%	23.43%	18.59%	24.01%
EBITDA Margin	-10.86%	-208.32%	-41.08%	-48.56%
Operating Margin	-22.15%	-218.41%	-97.14%	-25.76%
EBIT Margin	-26.95%	-229.08%	-65.68%	-61.78%
Profit (Net Income) Margin	-28.19%	-230.10%	-69.09%	-65.49%
Tax Burden Percent	89.31%	99.50%	98.52%	97.40%
Interest Burden Percent	117.14%	100.95%	106.77%	108.83%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-3.51%	-23.68%	-8.91%	-3.01%
ROIC Less NNEP Spread (ROIC-NNEP)	-101.86%	-320.79%	-10.93%	-123.07%
Return on Net Nonoperating Assets (RNNOA)	-3.06%	-13.46%	-0.83%	-8.70%
Return on Equity (ROE)	-6.57%	-37.14%	-9.75%	-11.71%
Cash Return on Invested Capital (CROIC)	-4.84%	5.15%	-2.20%	-125.45%
Operating Return on Assets (OROA)	-4.99%	-29.45%	-7.19%	-8.17%
Return on Assets (ROA)	-5.22%	-29.58%	-7.57%	-8.66%
Return on Common Equity (ROCE)	-6.55%	-36.87%	-9.70%	-11.64%
Return on Equity Simple (ROE_SIMPLE)	-6.46%	-43.52%	-9.87%	-7.54%
Net Operating Profit after Tax (NOPAT)	-122	-959	-427	-93
NOPAT Margin	-15.50%	-152.89%	-68.00%	-18.03%
Net Nonoperating Expense Percent (NNEP)	98.35%	297.10%	2.02%	120.06%
Cost of Revenue to Revenue	71.69%	76.57%	81.41%	75.99%
SG&A Expenses to Revenue	25.93%	31.89%	31.47%	26.93%
R&D to Revenue	0.08%	0.11%	0.24%	0.16%
Operating Expenses to Revenue	50.46%	241.84%	115.73%	49.77%
Earnings before Interest and Taxes (EBIT)	-213	-1,437	-413	-317
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-86	-1,306	-258	-249
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.40	0.31	1.17	1.67
Price to Tangible Book Value (P/TBV)	2.69	3.10	10.69	366.33
Price to Revenue (P/Rev)	1.77	1.65	8.16	14.54
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.42	0.34	1.16	1.61
Enterprise Value to Revenue (EV/Rev)	1.85	1.88	8.53	15.50
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	149.43	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.67	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.10	0.18	0.14	0.22
Long-Term Debt to Equity	0.08	0.11	0.12	0.20
Financial Leverage	0.03	0.04	0.08	0.07
Leverage Ratio	1.26	1.26	1.29	1.35
Compound Leverage Factor	1.48	1.27	1.38	1.47
Debt to Total Capital	8.91%	15.18%	12.28%	18.22%
Short-Term Debt to Total Capital	1.29%	6.06%	2.01%	1.94%
Long-Term Debt to Total Capital	7.62%	9.12%	10.27%	16.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.36%	0.84%	0.11%
Common Equity to Total Capital	91.08%	84.46%	86.88%	81.66%
Debt to EBITDA	-3.93	-0.46	-2.41	-3.99
Net Debt to EBITDA	-0.80	-0.10	-0.74	-1.96
Long-Term Debt to EBITDA	-3.36	-0.27	-2.01	-3.57
Debt to NOPAT	-2.75	-0.62	-1.46	-10.76
Net Debt to NOPAT	-0.56	-0.14	-0.45	-5.28
Long-Term Debt to NOPAT	-2.35	-0.37	-1.22	-9.61
Altman Z-Score	0.32	-1.01	2.78	2.76
Noncontrolling Interest Sharing Ratio	0.21%	0.73%	0.55%	0.58%
Liquidity Ratios	-	-	-	-
Current Ratio	2.27	1.79	2.87	2.20
Quick Ratio	1.21	1.24	1.82	1.44
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	-169	208	-105	-3,855
Operating Cash Flow to CapEx	-149.01%	47.93%	-810.93%	-138.59%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-
Asset Turnover	0.19	0.13	0.11	0.13
Accounts Receivable Turnover	8.40	6.91	6.88	8.19
Inventory Turnover	2.50	2.15	2.04	1.97
Fixed Asset Turnover	0.00	0.00	0.00	0.00
Accounts Payable Turnover	2.61	2.76	2.76	2.40
Days Sales Outstanding (DSO)	43.47	52.82	53.03	44.55
Days Inventory Outstanding (DIO)	146.05	169.55	179.08	185.45
Days Payable Outstanding (DPO)	139.60	132.31	132.09	152.23
Cash Conversion Cycle (CCC)	49.92	90.06	100.02	77.77
Capital & Investment Metrics	-	-	-	-
Invested Capital	3,512	3,465	4,632	4,954
Invested Capital Turnover	0.23	0.15	0.13	0.17
Increase / (Decrease) in Invested Capital	47	-1,167	-322	3,763
Enterprise Value (EV)	1,462	1,181	5,360	7,953
Market Capitalization	1,393	1,032	5,126	7,458
Book Value per Share	$4.45	$5.37	$8.84	$9.97
Tangible Book Value per Share	$0.67	$0.54	$0.96	$0.05
Total Capital	3,780	3,926	5,063	5,460
Total Debt	337	596	622	995
Total Long-Term Debt	288	358	520	889
Net Debt	68	135	191	489
Capital Expenditures (CapEx)	21	16	22	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	167	130	209	100
Debt-free Net Working Capital (DFNWC)	427	578	625	588
Net Working Capital (NWC)	379	340	523	482
Net Nonoperating Expense (NNE)	100	484	6.85	243
Net Nonoperating Obligations (NNO)	68	135	191	489
Total Depreciation and Amortization (D&A)	127	130	155	68
Debt-free, Cash-free Net Working Capital to Revenue	21.15%	20.66%	33.29%	19.47%
Debt-free Net Working Capital to Revenue	54.18%	92.18%	99.48%	114.67%
Net Working Capital to Revenue	47.98%	54.22%	83.26%	94.01%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	($0.33)	($2.35)	($0.90)	($1.25)
Adjusted Weighted Average Basic Shares Outstanding	742.65M	617.98M	481.22M	269.55M
Adjusted Diluted Earnings per Share	($0.33)	($2.35)	($0.90)	($1.25)
Adjusted Weighted Average Diluted Shares Outstanding	742.65M	617.98M	481.22M	269.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	842.96M	703.26M	536.39M	449.22M
Normalized Net Operating Profit after Tax (NOPAT)	-117	-298	-182	-90
Normalized NOPAT Margin	-14.79%	-47.56%	-28.91%	-17.59%
Pre Tax Income Margin	-31.56%	-231.24%	-70.13%	-67.24%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-1.72%	-7.11%
Augmented Payout Ratio	0.00%	0.00%	-1.72%	-7.11%

This table displays calculated financial ratios and metrics derived from Tilray's official financial filings.

Metric	Q3 2025	Q2 2025	Q1 2025	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	8/31/2023	5/31/2023	2/29/2024	11/30/2023	8/31/2022	5/31/2022	2/28/2023
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	13.05%	15.49%	-46.20%	29.36%	34.44%	-8.82%	19.96%	17.51%
EBITDA Growth	0.00%	0.00%	198.93%	60.33%	-228.95%	94.33%	72.61%	-202.24%	1,857.51%	-422.85%
EBIT Growth	0.00%	0.00%	38.28%	28.44%	-240.72%	91.76%	41.72%	-175.37%	1,745.78%	-393.28%
NOPAT Growth	0.00%	0.00%	-6.43%	-62.25%	-217.82%	93.20%	19.37%	69.47%	1,226.44%	-4,917.61%
Net Income Growth	0.00%	0.00%	37.97%	15.09%	-242.92%	91.22%	25.07%	-90.13%	2,451.48%	-362.32%
EPS Growth	0.00%	0.00%	60.00%	23.08%	-284.55%	93.68%	36.36%	-62.50%	0.00%	0.00%
Operating Cash Flow Growth	0.00%	0.00%	-122.87%	65.76%	149.11%	17.56%	-99.94%	50.37%	-1,816.21%	-2,777.01%
Free Cash Flow Firm Growth	0.00%	0.00%	97.85%	-174.60%	-70.47%	100.81%	122.28%	208.04%	127.42%	-1,066.72%
Invested Capital Growth	0.00%	0.00%	1.43%	0.00%	-25.20%	-2.59%	-23.08%	0.00%	-6.50%	0.00%
Revenue Q/Q Growth	-11.93%	5.45%	0.00%	92.75%	-51.26%	-2.80%	26.47%	-10.21%	17.20%	1.01%
EBITDA Q/Q Growth	-1,711.57%	-625.01%	0.00%	99.34%	-1,715.45%	-424.99%	36.99%	-102.15%	179.89%	-2,433.74%
EBIT Q/Q Growth	-938.72%	-215.47%	0.00%	96.88%	-1,150.44%	-142.65%	24.43%	-106.14%	173.22%	-1,616.27%
NOPAT Q/Q Growth	-1,700.02%	-15.44%	0.00%	97.19%	-1,391.69%	-96.60%	-97.18%	-102.04%	186.13%	-2,230.01%
Net Income Q/Q Growth	-830.56%	-146.09%	0.00%	95.44%	-1,067.85%	-127.32%	29.81%	-107.67%	171.74%	-1,840.05%
EPS Q/Q Growth	-770.00%	-150.00%	0.00%	95.07%	-1,591.67%	-71.43%	46.15%	-111.82%	157.89%	-1,627.27%
Operating Cash Flow Q/Q Growth	85.85%	-15.34%	0.00%	-122.79%	552.56%	-85,438.89%	100.04%	67.32%	-659.82%	-163.79%
Free Cash Flow Firm Q/Q Growth	0.00%	100.00%	0.00%	-1,231.50%	758.81%	-96.55%	-77.76%	347.93%	123.58%	5.16%
Invested Capital Q/Q Growth	-100.00%	-0.52%	0.00%	0.52%	-1.34%	-1.93%	0.00%	-100.00%	28.47%	-22.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.00%	29.02%	29.85%	24.98%	1.68%	26.23%	24.47%	31.73%	20.32%	-8.04%
EBITDA Margin	-403.92%	-19.64%	3.94%	-4.51%	-1,314.99%	-35.31%	-6.54%	-13.12%	548.66%	-804.84%
Operating Margin	-409.05%	-20.01%	-18.28%	-19.42%	-1,334.01%	-43.59%	-21.55%	-13.82%	420.51%	-828.86%
EBIT Margin	-421.98%	-35.78%	-11.96%	-21.91%	-1,353.07%	-52.74%	-21.13%	-35.36%	517.34%	-828.03%
Profit (Net Income) Margin	-427.14%	-40.42%	-17.32%	-31.57%	-1,335.53%	-55.74%	-23.83%	-42.94%	502.78%	-821.32%
Tax Burden Percent	100.15%	102.45%	102.62%	114.95%	99.34%	97.34%	93.18%	112.31%	98.71%	99.10%
Interest Burden Percent	101.07%	110.29%	141.14%	125.37%	99.36%	108.57%	121.07%	108.15%	98.46%	100.09%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.40%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-2.96%	-5.08%	-144.64%	-6.05%	-2.43%	0.00%	55.90%	-193.09%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-16.82%	-83.20%	-370.92%	-31.88%	-11.82%	0.00%	94.23%	-546.11%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-0.32%	-1.99%	-15.56%	-1.74%	-0.54%	0.00%	7.19%	-31.88%
Return on Equity (ROE)	0.00%	0.00%	-3.28%	-7.07%	-160.20%	-7.79%	-2.97%	0.00%	63.09%	-224.97%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-4.95%	-255.58%	5.15%	18.82%	16.71%	0.00%	-2.20%	-254.42%
Operating Return on Assets (OROA)	0.00%	0.00%	-2.24%	-3.24%	-173.94%	-8.67%	-2.86%	0.00%	56.66%	-113.53%
Return on Assets (ROA)	0.00%	0.00%	-3.25%	-4.67%	-171.68%	-9.16%	-3.22%	0.00%	55.06%	-112.61%
Return on Common Equity (ROCE)	0.00%	0.00%	-3.27%	-7.03%	-159.03%	-7.81%	-2.96%	0.00%	62.75%	-224.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	-5.78%	-42.41%	0.00%	19.08%	-13.36%	0.00%	0.00%	-36.97%
Net Operating Profit after Tax (NOPAT)	-532	-30	-26	-24	-857	-57	-29	-15	728	-845
NOPAT Margin	-286.33%	-14.01%	-12.80%	-13.59%	-933.81%	-30.51%	-15.09%	-9.68%	426.42%	-580.21%
Net Nonoperating Expense Percent (NNEP)	0.00%	92.06%	13.86%	78.12%	226.28%	25.83%	9.39%	0.00%	-38.33%	353.02%
Cost of Revenue to Revenue	72.00%	70.98%	70.15%	75.02%	98.32%	73.77%	75.53%	68.27%	79.68%	108.04%
SG&A Expenses to Revenue	28.61%	29.47%	27.90%	26.77%	53.36%	26.51%	26.27%	32.75%	28.02%	31.22%
R&D to Revenue	0.05%	0.03%	0.05%	0.04%	0.39%	0.06%	0.03%	0.11%	0.23%	0.12%
Operating Expenses to Revenue	437.04%	49.03%	48.13%	44.40%	1,335.69%	69.82%	46.02%	45.55%	-400.19%	820.83%
Earnings before Interest and Taxes (EBIT)	-784	-75	-24	-39	-1,242	-99	-41	-54	883	-1,206
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-750	-41	7.89	-7.98	-1,207	-66	-13	-20	936	-1,172
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.28	0.41	0.62	0.31	0.38	0.39	0.00	1.17	1.86
Price to Tangible Book Value (P/TBV)	0.00	1.62	2.58	5.18	3.10	3.07	3.26	0.00	10.69	15.71
Price to Revenue (P/Rev)	0.00	0.00	1.78	3.20	1.65	1.82	1.99	9.00	8.16	10.57
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	2.18	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	45.93%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.29	0.42	0.63	0.34	0.41	0.43	0.00	1.16	1.81
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.84	3.36	1.88	2.04	2.31	0.00	8.53	10.89
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	1.72	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	2.09	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	2.50	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	57.01	149.43	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	5.67	2.15	2.23	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.09	0.10	0.16	0.18	0.12	0.14	0.00	0.14	0.18
Long-Term Debt to Equity	0.00	0.08	0.08	0.08	0.11	0.09	0.09	0.00	0.12	0.09
Financial Leverage	0.00	0.02	0.02	0.02	0.04	0.05	0.05	0.00	0.08	0.06
Leverage Ratio	0.00	1.21	1.26	1.29	1.26	1.27	1.24	0.00	1.29	1.28
Compound Leverage Factor	0.00	1.34	1.78	1.62	1.25	1.38	1.51	0.00	1.27	1.29
Debt to Total Capital	0.00%	8.48%	8.82%	14.14%	15.18%	10.76%	11.98%	0.00%	12.28%	15.16%
Short-Term Debt to Total Capital	0.00%	1.29%	1.29%	7.24%	6.06%	2.96%	4.39%	0.00%	2.01%	7.38%
Long-Term Debt to Total Capital	0.00%	7.20%	7.54%	6.90%	9.12%	7.80%	7.59%	0.00%	10.27%	7.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	-0.51%	0.14%	0.56%	0.36%	-0.42%	0.65%	0.00%	0.84%	0.08%
Common Equity to Total Capital	0.00%	92.03%	91.04%	85.30%	84.46%	89.67%	87.37%	0.00%	86.88%	84.76%
Debt to EBITDA	0.00	0.00	-4.83	-0.43	-0.46	0.48	-1.72	0.00	-2.41	-0.49
Net Debt to EBITDA	0.00	0.00	-0.71	-0.06	-0.10	0.20	-0.70	0.00	-0.74	-0.15
Long-Term Debt to EBITDA	0.00	0.00	-4.12	-0.21	-0.27	0.35	-1.09	0.00	-2.01	-0.25
Debt to NOPAT	0.00	0.00	-2.72	-0.58	-0.62	0.70	-1.20	0.00	-1.46	-0.62
Net Debt to NOPAT	0.00	0.00	-0.40	-0.08	-0.14	0.29	-0.49	0.00	-0.45	-0.19
Long-Term Debt to NOPAT	0.00	0.00	-2.32	-0.28	-0.37	0.51	-0.76	0.00	-1.22	-0.32
Altman Z-Score	0.00	0.00	0.52	0.66	-0.86	0.19	0.22	0.00	3.57	2.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.40%	0.65%	0.73%	-0.19%	0.48%	0.00%	0.55%	0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.54	2.47	1.54	1.79	1.92	1.63	0.00	2.87	1.61
Quick Ratio	0.00	1.31	1.31	1.02	1.24	0.96	0.89	0.00	1.82	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-75	-3,507	310	36	1,046	4,701	1,050	-4,450
Operating Cash Flow to CapEx	-40.54%	-842.62%	-526.34%	-415.80%	0.00%	-176.02%	0.22%	-3,010.34%	-905.18%	-2,212.83%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.19	0.15	0.13	0.16	0.14	0.00	0.11	0.14
Accounts Receivable Turnover	0.00	0.00	8.73	7.93	6.91	8.41	7.36	0.00	6.88	7.66
Inventory Turnover	0.00	0.00	2.31	2.19	2.15	2.35	2.20	0.00	2.04	2.44
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	2.42	2.14	2.76	2.82	2.87	0.00	2.76	3.03
Days Sales Outstanding (DSO)	0.00	0.00	41.83	46.03	52.82	43.40	49.62	0.00	53.03	47.66
Days Inventory Outstanding (DIO)	0.00	0.00	158.04	166.64	169.55	155.11	165.55	0.00	179.08	149.43
Days Payable Outstanding (DPO)	0.00	0.00	150.99	170.95	132.31	129.52	127.37	0.00	132.09	120.42
Cash Conversion Cycle (CCC)	0.00	0.00	48.88	41.72	90.06	69.00	87.80	0.00	100.02	76.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	3,514	3,533	3,483	3,465	3,512	3,581	0.00	4,632	3,606
Invested Capital Turnover	0.00	0.00	0.23	0.37	0.15	0.20	0.16	0.00	0.13	0.33
Increase / (Decrease) in Invested Capital	0.00	0.00	50	3,483	-1,167	-94	-1,075	-4,716	-322	3,606
Enterprise Value (EV)	0.00	1,020	1,496	2,185	1,181	1,438	1,535	0.00	5,360	6,531
Market Capitalization	689	979	1,441	2,082	1,032	1,285	1,322	5,525	5,126	6,340
Book Value per Share	$0.00	$4.76	$4.13	$4.81	$5.37	$4.52	$4.61	$0.00	$8.84	$5.53
Tangible Book Value per Share	$0.00	$0.83	$0.66	$0.57	$0.54	$0.56	$0.55	$0.00	$0.96	$0.66
Total Capital	0.00	3,774	3,821	3,962	3,926	3,746	3,855	0.00	5,063	4,016
Total Debt	0.00	320	337	560	596	403	462	0.00	622	609
Total Long-Term Debt	0.00	272	288	273	358	292	293	0.00	520	313
Net Debt	0.00	61	49	81	135	169	188	0.00	191	188
Capital Expenditures (CapEx)	14	4.83	6.71	3.81	-1.88	8.73	8.11	1.54	16	0.84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	225	201	112	130	187	155	0.00	209	177
Debt-free Net Working Capital (DFNWC)	0.00	477	482	579	578	413	416	0.00	625	585
Net Working Capital (NWC)	0.00	429	432	292	340	302	247	0.00	523	289
Net Nonoperating Expense (NNE)	262	56	9.05	32	369	48	17	51	-130	351
Net Nonoperating Obligations (NNO)	0.00	61	49	81	135	169	188	0.00	191	199
Total Depreciation and Amortization (D&A)	34	34	32	31	35	33	28	34	53	34
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	24.81%	17.26%	20.66%	26.49%	23.36%	0.00%	33.29%	29.48%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	59.30%	88.93%	92.18%	58.48%	62.77%	0.00%	99.48%	97.53%
Net Working Capital to Revenue	0.00%	0.00%	53.24%	44.86%	54.22%	42.80%	37.25%	0.00%	83.26%	48.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.87)	($0.10)	($0.04)	($0.10)	($2.03)	($0.12)	($0.07)	$0.00	$1.10	$0.00
Adjusted Weighted Average Basic Shares Outstanding	908.34M	864.97M	875.44M	691.19M	617.98M	754.44M	730.77M	0.00	481.22M	0.00
Adjusted Diluted Earnings per Share	($0.87)	($0.10)	($0.04)	($0.10)	($2.03)	($0.12)	($0.07)	$0.00	$1.10	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	908.34M	864.97M	875.44M	691.19M	617.98M	754.44M	730.77M	0.00	481.22M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.01B	937.66M	903.29M	730.29M	703.26M	774.03M	742.73M	0.00	536.39M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-36	-24	-22	-30	-857	-56	-25	-14	459	-192
Normalized NOPAT Margin	-19.52%	-11.43%	-10.75%	-16.82%	-933.52%	-29.56%	-12.92%	-9.38%	268.75%	-132.20%
Pre Tax Income Margin	-426.49%	-39.46%	-16.88%	-27.47%	-1,344.39%	-57.27%	-25.58%	-38.24%	509.35%	-828.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.72%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.72%	0.00%

Frequently Asked Questions About Tilray's Financials

When does Tilray's fiscal year end?

According to the most recent income statement we have on file, Tilray's financial year ends in May. Their financial year 2024 ended on May 31, 2024.

How has Tilray's net income changed over the last 3 years?

Tilray's net income appears to be on an upward trend, with a most recent value of -$222.40 million in 2024, falling from -$336.01 million in 2021. The previous period was -$1.44 billion in 2023. Find out what analysts predict for Tilray in the coming months.

What is Tilray's operating income?

Tilray's total operating income in 2024 was -$174.75 million, based on the following breakdown:

Total Gross Profit: $223.35 million
Total Operating Expenses: $398.10 million

How has Tilray revenue changed over the last 3 years?

Over the last 3 years, Tilray's total revenue changed from $513.09 million in 2021 to $788.94 million in 2024, a change of 53.8%.

How much debt does Tilray have?

Tilray's total liabilities were at $778.49 million at the end of 2024, a 20.3% decrease from 2023, and a 50.1% decrease since 2021.

How much cash does Tilray have?

In the past 3 years, Tilray's cash and equivalents has ranged from $206.63 million in 2023 to $488.47 million in 2021, and is currently $228.34 million as of their latest financial filing in 2024.

How has Tilray's book value per share changed over the last 3 years?

Over the last 3 years, Tilray's book value per share changed from 9.97 in 2021 to 4.45 in 2024, a change of -55.4%.

Related Companies

This page (NASDAQ:TLRY) was last updated on 5/25/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Tilray (TLRY) Financials

Frequently Asked Questions About Tilray's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Tilray (TLRY) Financials

Annual Income Statements for Tilray

Quarterly Income Statements for Tilray

Annual Cash Flow Statements for Tilray

Quarterly Cash Flow Statements for Tilray

Annual Balance Sheets for Tilray

Quarterly Balance Sheets for Tilray

Annual Metrics And Ratios for Tilray

Quarterly Metrics And Ratios for Tilray

Frequently Asked Questions About Tilray's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools