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NYSE · MEDICINAL CHEMICALS & BOTANICAL PRODUCTS · LARGE CAP

Trulieve Cannabis Corp. TRLV

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.2B
▼ 0.4% YoY
$-122.2M
$228.6M
▲ 53.6% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Trulieve is a vertically integrated cannabis company and multi-state operator with operations in nine states. The company is headquartered in Tallahassee, Florida, with retail operations in Arizona, Florida, Georgia, Pennsylvania and West Virginia. As of December 31, 2025, the company operated 233 dispensaries and 15 cultivation and processing facilities across the states in which it operates. As of December 31, 2025, the company had over 5,000 employees. In Florida and Georgia, Trulieve cultivates, processes and manufactures all cannabis products sold in its dispensaries. Trulieve Cannabis Corp., formerly Schyan Exploration Inc., was incorporated under the Business Corporations Act (Ontario) on September 17, 1940.

Written from the business description in Trulieve Cannabis Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.2B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.2 · Net income -0.1
0.5B1.0B-0.2B-0.4B
201920222025
Compound annual growth
−1.0%
+17.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +17.8% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−10 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 12.1% · Net -10.3%
20%40%-20%-40%
201920222025
ROE
FY2025 · ROE -10.2%
10%20%30%-10%-20%-30%
201920222025
Three returns, three denominators.

Each USD of equity lost 10 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 228.6
100M200M-100M-200M
201920222025

Total assetsUSD 2.7B
CashUSD 255.5M
Gross debtUSD 136.7M
Net debtUSD -118.8M
Current ratio4.43×

Net debt stands at -10% of equity.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
TRLV, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B1.21.21.11.20.90.50.3
Operating income $B0.10.1−0.20.10.20.20.1
EBITDA $B◌◌◌0.10.20.20.1
Income tax $B0.20.20.20.20.10.10.1
Net income $B−0.1−0.2−0.5−0.30.00.10.1
Free cash flow $B0.20.10.2−0.1−0.3−0.0−0.1
EPS, diluted $−0.58−0.79−2.28−0.950.210.530.46
Dividend / sh $◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %−10.2−12.1−32.0−12.41.321.740.0
Shares out B0.190.190.190.190.180.12◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 3 failures · 2 divergences in 33 reconciliationsAUDITED

Reconciled in 2 of the 7 fiscal years we could check. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 26 checks were skipped: the balance sheet is not tagged before 2020. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency3 failures2 divergent
ActivityMedicinal Chemicals & Botanical Products
Listed onNYSE
Incorporated inoutside the United States — SEC code A1
Fiscal year endsDecember 31
Data on record since2019

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