GTBIF vs VRNO
Green Thumb Industries Inc. and Verano Holdings Corp., side by side — 6 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | GTBIF | VRNO |
|---|---|---|
| Revenue | $1.2B | $821.5M |
| Net income | $114.2M | $-257.9M |
| Gross margin | 48.9% | 50.3% |
| Net margin | 9.7% | −31.4% |
| Return on equity | 6.2% | −31.1% |
| Diluted EPS | $0.48 | −$0.71 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $213.9M | $11.6M |
| Equity | $1.9B | $704.2M |
| Net debt / equity | −0.01× | 0.45× |
| Current ratio | 3.26× | 2.88× |
| Revenue CAGR 5y | 16.1% | 29.2% |
| Profit CAGR 5y | 50.1% | · |
GTBIF bills 1.4× the revenue of VRNO, and VRNO closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | GTBIF | VRNO |
|---|---|---|
| FY2025 | $1.2B | $821.5M |
| FY2024 | $1.1B | $878.6M |
| FY2023 | $1.1B | $938.5M |
| FY2022 | $1.0B | $879.4M |
| FY2021 | $893.6M | $737.9M |
| FY2020 | $556.6M | $228.5M |
Bottom line
| Fiscal year | GTBIF | VRNO |
|---|---|---|
| FY2025 | $114.2M | $-257.9M |
| FY2024 | $73.1M | $-341.9M |
| FY2023 | $36.3M | $-117.3M |
| FY2022 | $12.0M | $-269.2M |
| FY2021 | $75.4M | $-57.5M |
| FY2020 | $15.0M | $38.4M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$353,791,000 | GTBIF |
| FY2024 | +$258,556,000 | GTBIF |
| FY2023 | +$116,101,000 | GTBIF |
| FY2022 | +$137,963,000 | GTBIF |
| FY2021 | +$155,710,000 | GTBIF |
| FY2020 | +$328,043,000 | GTBIF |
GTBIF has reported the higher revenue in every one of these 6 fiscal years. The gap has widened since the earliest year compared.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +41.1 pp | GTBIF |
| FY2024 | +45.3 pp | GTBIF |
| FY2023 | +15.9 pp | GTBIF |
| FY2022 | +31.8 pp | GTBIF |
| FY2021 | +15.9 pp | GTBIF |
| FY2020 | −14.9 pp | VRNO |
The higher net margin has changed hands between GTBIF and VRNO over this period.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VRNO's net margin has been more volatile than GTBIF's over the 6 comparable fiscal years — 19.1 percentage points of standard deviation against 3.1.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between GTBIF and VRNO over these 6 fiscal years — GTBIF led in 5 and VRNO in 1.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VRNO's return on equity has been more volatile than GTBIF's over the 5 comparable fiscal years — 11.2 percentage points of standard deviation against 2.1.
5 of 8 comparable fiscal years — a year missing data on either side is not counted.
Year by year
GTBIF led in return on equity in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 8 comparable fiscal years — a year missing data on either side is not counted.