A Business at a Glance
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MARIMED INC.
MRMD
$24M
Mkt Cap
$0.06
-1.52%
MARIMED INC. (MRMD) has a 5-year average return on invested capital (ROIC) of 21.1%. This indicates strong capital allocation and a potential competitive advantage.
MARIMED INC. (MRMD) has a market capitalization of $24M. It is classified as a small-cap stock.
MARIMED INC. (MRMD) does not currently pay a regular dividend.
MARIMED INC. (MRMD) operates in the Medicinal Chemicals & Botanical Products industry, within the Healthcare sector.
MARIMED INC. (MRMD) reported annual revenue of $160 million in its most recent fiscal year, based on SEC EDGAR filings.
MARIMED INC. (MRMD) has a net profit margin of -9.1%. The company is currently unprofitable.
MARIMED INC. (MRMD) generated $7 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Company Overview We are a multi-state cannabis operator in the United States, headquartered in Norwood, Massachusetts, dedicated to improving lives every day through our high-quality products, our actions, and our values. We develop, own, and manage seed to sale state-licensed, state-of-the-art, regulatory-compliant facilities for the cultivation, production, and dispensing of medicinal and adult-use cannabis. We have created and continue to develop our own brands of premium cannabis flower, concentrates, edibles, and other precision-dosed products utilizing our proprietary strains and formulations. We also license our proprietary brands, along with other top cannabis products, in domestic markets. Our common stock trades on both the OTCQX and the Canadian Securities Exchange under the ticker symbol MRMD.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 160M | 160M | 158M | 149M | 134M | 121M |
| Net Income | -14M | -14M | -12M | -16M | 13M | 7.2M |
| EPS | $-0.04 | $-0.04 | $-0.03 | $-0.04 | $0.04 | $0.02 |
| Free Cash Flow | 6.5M | 6.5M | -5.2M | -12M | -4.8M | 18M |
| ROIC | -1.7% | -2.2% | 2.3% | 19.9% | 37.1% | 48.4% |
| Gross Margin | 36.2% | 36.2% | 39.7% | 44.4% | 47.7% | 54.6% |
| Debt/Equity | 1.73 | 1.73 | 1.53 | 0.57 | 0.15 | 0.54 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | -2.8M | -2.8M | 2.6M | 14M | 20M | 27M |
| Operating Margin | -1.8% | -1.8% | 1.7% | 9.7% | 15.2% | 22.1% |
| ROE | -29.0% | -26.7% | -19.6% | -25.4% | 28.8% | 32.5% |
| Shares Outstanding | 362M | 362M | 416M | 401M | 337M | 361M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | 1.3M | 3.6M | 6.1M | 12M | 46M | 51M | 121M | 134M | 149M | 158M | 160M | 160M |
| Gross Margin | N/A | -23.4% | 54.6% | 63.9% | 65.9% | 41.0% | 61.5% | 54.6% | 47.7% | 44.4% | 39.7% | 36.2% | 36.2% |
| R&D | N/A | 93K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 302K | 568K | 770K | 2.9M | 10M | 8.8M | 9.9M | 28M | 21M | 22M | 26M | 26M | 26M |
| EBIT | -817K | -1.7M | 775K | 128K | -5.4M | -42M | 15M | 27M | 20M | 14M | 2.6M | -2.8M | -2.8M |
| Op. Margin | N/A | -133.1% | 21.8% | 2.1% | -45.2% | -91.1% | 28.6% | 22.1% | 15.2% | 9.7% | 1.7% | -1.8% | -1.8% |
| Net Income | -7.4M | -1.8M | -199K | -1.2M | -14M | -81M | 2.1M | 7.2M | 13M | -16M | -12M | -14M | -14M |
| Net Margin | N/A | -145.4% | -5.6% | -19.7% | -114.8% | -178.0% | 4.2% | 5.9% | 10.0% | -10.8% | -7.9% | -9.1% | -9.1% |
| Non-Recurring | 6.5M | 0 | 0 | 0 | 1.3M | -28M | 85K | 0 | 0 | -906K | -13K | -834K | -834K |
| Returns on Capital | |||||||||||||
| ROIC | -39.1% | -115.0% | 10.5% | 0.7% | -28.0% | -136.0% | 19.8% | 48.4% | 37.1% | 19.9% | 2.3% | -2.2% | -1.7% |
| ROE | N/A | 95.7% | 16.0% | -22.8% | -37.4% | -238.5% | 29.7% | 32.5% | 28.8% | -25.4% | -19.6% | -26.7% | -29.0% |
| ROA | -877.2% | -68.8% | -3.2% | -5.9% | -23.6% | -112.3% | 3.1% | 7.2% | 9.8% | -9.2% | -6.2% | -7.1% | -7.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -455K | -393K | -198K | 1.8M | -2.9M | -24M | 3.4M | 36M | 7.3M | 7.9M | 6.8M | 7.7M | 7.7M |
| Free Cash Flow | -458K | -393K | -3.6M | -19M | -12M | -34M | -1.3M | 18M | -4.8M | -12M | -5.2M | 6.5M | 6.5M |
| Owner Earnings | -511K | -1.6M | -627K | 324K | -9.3M | -31M | -4.3M | 20M | -9.3M | -8.0M | -16M | -2.3M | -2.3M |
| CapEx | 3K | 0 | 3.4M | 21M | 8.9M | 9.7M | 4.7M | 18M | 12M | 20M | 12M | 1.2M | 1.2M |
| Maint. CapEx | 20K | 1.2M | 266K | 363K | 658K | 1.0M | 4.9M | 2.8M | 10M | 15M | 22M | 8.1M | 8.1M |
| Growth CapEx | 0 | N/A | 3.1M | 21M | 8.3M | 8.7M | 0 | 15M | 1.9M | 5.2M | 0 | 0 | 0 |
| D&A | 20K | 1.2M | 266K | 363K | 658K | 1.0M | 4.9M | 2.8M | 10M | 15M | 22M | 8.1M | 8.1M |
| CapEx/OCF | N/A | N/A | N/A | 1188.5% | N/A | N/A | 138.7% | 49.9% | 166.1% | 254.5% | 176.3% | N/A | 15.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10K | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 36K | 46K | 164K | 1.1M | 5.8M | 6.3M | 2.8M | 13M | 6.3M | 1.0M | 1.1M | 1.9M | 1.9M |
| Debt Repayment | 0 | 0 | 0 | 253K | 217K | 1.2M | 0 | 0 | 0 | 4.3M | 0 | 9K | 9K |
| Balance Sheet | |||||||||||||
| Net Debt | 1.1M | 3.1M | 6.4M | 19M | 15M | 42M | 38M | -10M | -1.2M | 25M | 82M | 78M | 78M |
| Cash & Equiv. | 988K | 161K | 569K | 1.3M | 4.1M | 739K | 3.0M | 30M | 9.7M | 15M | 7.3M | 8.9M | 8.9M |
| Long-Term Debt | 2.1M | 3.3M | 3.5M | 9.5M | 15M | 36M | 37M | 14M | 3.0M | 2.1M | 78M | 76M | 76M |
| Debt/Equity | -1.06 | -1.68 | -12.60 | 1.85 | 0.30 | 6.92 | 5.26 | 0.54 | 0.15 | 0.57 | 1.53 | 1.73 | 1.73 |
| Interest Coverage | -14.5 | -8.2 | 2.7 | 0.2 | -1.2 | -3.3 | 1.5 | 11.4 | 12.0 | 1.6 | 0.4 | -0.4 | -0.4 |
| Equity | -1.9M | -1.9M | -551K | 11M | 62M | 6.3M | 8.1M | 36M | 57M | 69M | 59M | 50M | 50M |
| Total Assets | 1.7M | 3.7M | 8.6M | 32M | 83M | 62M | 76M | 123M | 152M | 196M | 207M | 203M | 203M |
| Total Liabilities | 3.8M | 5.6M | 8.6M | 21M | 21M | 55M | 54M | 49M | 57M | 107M | 129M | 138M | 138M |
| Intangibles | N/A | N/A | N/A | 333K | 185K | 2.4M | 2.2M | 162K | 14M | 17M | 19M | 17M | 17M |
| Retained Earnings | -9.0M | -10M | -11M | -12M | -26M | -107M | -105M | -97M | -84M | -100M | -113M | -128M | -128M |
| Working Capital | -234K | -4.7M | -3.7M | -10M | 5.8M | -29M | -2.2M | 17M | 18M | 21M | 3.5M | 223K | 223K |
| Current Assets | 1.3M | 949K | 2.4M | 5.0M | 16M | 7.4M | 21M | 45M | 44M | 51M | 54M | 59M | 59M |
| Current Liabilities | 1.5M | 5.6M | 6.1M | 15M | 10.0M | 37M | 23M | 27M | 26M | 31M | 50M | 59M | 59M |
| Per Share Data | |||||||||||||
| EPS | -0.12 | -0.02 | -0.00 | -0.01 | -0.07 | -0.39 | 0.01 | 0.02 | 0.04 | -0.04 | -0.03 | -0.04 | -0.04 |
| Owner EPS | -0.01 | -0.02 | -0.01 | 0.00 | -0.05 | -0.15 | -0.02 | 0.05 | -0.03 | -0.02 | -0.04 | -0.01 | -0.01 |
| Book Value | -0.03 | -0.02 | -0.01 | 0.09 | 0.32 | 0.03 | 0.04 | 0.10 | 0.17 | 0.17 | 0.14 | 0.14 | 0.14 |
| Cash Flow/Share | -0.01 | -0.00 | -0.00 | 0.01 | -0.01 | -0.12 | 0.02 | 0.10 | 0.02 | 0.02 | 0.02 | 0.02 | -0.02 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 64.5M | 92.3M | 49.7M | 119.4M | 194.3M | 208.2M | 214.4M | 361.3M | 336.7M | 400.8M | 415.6M | 362.1M | 362.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 45.7 | 43.0 | 9.5 | N/A | N/A | N/A | -1.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 17.3 | N/A | N/A | N/A | N/A | 3.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 7.2 | 11.1 | 5.8 | 7.0 | 14.9 | N/A | N/A |
| Price/Book | N/A | N/A | N/A | 8.0 | 9.7 | N/A | 4.3 | 4.2 | 1.3 | 1.3 | 0.6 | N/A | 0.5 |
| Price/Sales | N/A | 5.0 | 7.1 | 9.1 | 38.9 | N/A | 1.0 | 2.5 | 1.6 | 1.0 | 0.6 | N/A | 0.1 |
| FCF Yield | -10.1% | -5.7% | -8.4% | -21.7% | -2.0% | N/A | -1.3% | 5.8% | -3.8% | -10.9% | -10.6% | N/A | 27.7% |
| Market Cap | 4.5M | 6.9M | 42M | 88M | 599M | 0 | 98M | 311M | 128M | 113M | 49M | 0 | 24M |
| Avg. Price | 0.15 | 0.14 | 0.14 | 0.46 | 2.40 | 0.00 | 0.24 | 0.83 | 0.63 | 0.39 | 0.22 | 0.00 | 0.06 |
| Year-End Price | 0.14 | 0.15 | 0.23 | 0.74 | 3.13 | 0.00 | 0.46 | 0.86 | 0.38 | 0.28 | 0.12 | 0.00 | 0.06 |
MARIMED INC. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 15.5x vs a median of 17.3x. The company's 5-year average ROIC is 21.1% with a gross margin of 44.5%. At current prices, the estimated annualized return to fair value is +9.6%.
MARIMED INC. (MRMD) has a debt-to-equity ratio of 1.73. This indicates higher leverage, which may increase financial risk.
MARIMED INC. (MRMD) reported earnings per share (EPS) of $-0.04 in its most recent fiscal year.
MARIMED INC. (MRMD) has a return on equity (ROE) of -26.7%. A negative ROE may indicate losses or negative equity.
MARIMED INC. (MRMD) has a 5-year average gross margin of 44.5%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for MARIMED INC. (MRMD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MARIMED INC. (MRMD) has a book value per share of $0.14, based on its most recent annual SEC filing.