Aug. 19 at 7:15 PM
$SNDL = Zero Debt. Study post and images: Carefully. 280E Tax getting eliminated=HUGE Margin Expansion
$SNDL is mathematically the most undervalued play in cannabis heading into the Nov 2026 midterms, as both political parties actively compete to champion Schedule III rescheduling to capture swing votes.
THE REALITY (USD Normalized):
• Market Cap: ~
$308M
• Cash: ~
$132M (Zero parent debt)
• Net Book Value: ~
$792M (Trades at ~0.39x P/B)
• Pro-Forma Revenue: ~
$829M (Base + ~
$150M from Surterra US medical acquisition)
PEER COMPS:
With 56 US dispensaries (FL/TX/MA) added via Parallel,
$SNDL comps directly to MSOs:
•
$TRLV trades at ~1.66x P/S
•
$CURLF trades at ~1.84x P/S
•
$SNDL trades at an absurd ~0.45x P/S
VALUATION TARGETS:
• Blended 0.75x–1.0x P/S: ~
$2.44–
$3.25 / share
• Full
$TRLV Comp (1.66x P/S): ~
$5.39 / share
• Full
$CURLF Comp (1.84x P/S): ~
$5.98 / share
A debt-free,
$829M revenue operator priced at
$308M right before a historic DEA ruling.
Filings: https://sndl.com/financials/sec-filings/default.aspx
$MSOS $SPY
