Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) (VRNO) - Net Assets
Based on the latest financial reports, Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) (VRNO) has net assets worth CA$686.57 Million CAD (≈ $496.65 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$1.71 Billion ≈ $1.24 Billion USD) and total liabilities (CA$1.02 Billion ≈ $739.14 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of Verano Holdings Corp Ordinary Shares - C to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$686.57 Million |
| % of Total Assets | 40.19% |
| Annual Growth Rate | N/A |
| 5-Year Change | -52.6% |
| 10-Year Change | N/A |
| Growth Volatility | 8.19 |
Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) - Net Assets Trend (2020–2025)
This chart illustrates how Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)'s net assets have evolved over time, based on quarterly financial data. See VRNO days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) (2020–2025)
The table below shows the annual net assets of Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) from 2020 to 2025. For live valuation and market cap data, see market value of Verano Holdings Corp Ordinary Shares - C.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$702.38 Million ≈ $508.09 Million |
-26.13% |
| 2024-12-31 | CA$950.82 Million ≈ $687.81 Million |
-23.33% |
| 2023-12-31 | CA$1.24 Billion ≈ $897.05 Million |
-7.56% |
| 2022-12-31 | CA$1.34 Billion ≈ $970.46 Million |
-9.47% |
| 2021-12-31 | CA$1.48 Billion ≈ $1.07 Billion |
+684537.30% |
| 2020-12-31 | CA$-216.50K ≈ $-156.61K |
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Equity Component Analysis
This analysis shows how different components contribute to Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 103994844117.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$1.75 Billion | 247.91% |
| Total Equity | CA$704.16 Million | 100.00% |
Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) Competitors by Market Cap
The table below lists competitors of Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Olvi Oyj A
HE:OLVAS
|
$623.23 Million |
|
Guangdong Great River Smarter Logistics Co Ltd Class A
SHE:002930
|
$623.26 Million |
|
CK Power Public Company Limited
BK:CKP
|
$623.33 Million |
|
Hangzhou Huasu Technology Co. Ltd. A
SHE:301157
|
$623.37 Million |
|
Forge Global Holdings Inc
NYSE:FRGE
|
$623.01 Million |
|
Concord Securities Co Ltd
TWO:6016
|
$622.99 Million |
|
Arrow Financial Corporation
NASDAQ:AROW
|
$622.98 Million |
|
CUROCOM Co. Ltd
KQ:040350
|
$622.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 952,174,000 to 704,156,000, a change of -248,018,000 (-26.0%).
- Net loss of 257,908,000 reduced equity.
- Other factors increased equity by 9,890,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-257.91 Million | -36.63% |
| Other Changes | CA$9.89 Million | +1.4% |
| Total Change | CA$- | -26.05% |
Book Value vs Market Value Analysis
This analysis compares Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.19x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | CA$0.00 | CA$8.15 | x |
| 2021-12-31 | CA$5.04 | CA$8.15 | x |
| 2022-12-31 | CA$4.11 | CA$8.15 | x |
| 2023-12-31 | CA$3.60 | CA$8.15 | x |
| 2024-12-31 | CA$2.65 | CA$8.15 | x |
| 2025-12-31 | CA$1.95 | CA$8.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -36.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -31.39%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 2.47x
- Recent ROE (-36.63%) is below the historical average (-17.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 0.00% | 16.80% | 14510.39x | 0.00x | CA$38.42 Million |
| 2021 | -3.88% | -7.79% | 0.29x | 1.72x | CA$-205.56 Million |
| 2022 | -20.06% | -30.61% | 0.37x | 1.79x | CA$-403.32 Million |
| 2023 | -9.46% | -12.50% | 0.40x | 1.87x | CA$-241.36 Million |
| 2024 | -35.90% | -38.91% | 0.44x | 2.09x | CA$-437.08 Million |
| 2025 | -36.63% | -31.39% | 0.47x | 2.47x | CA$-328.32 Million |
Industry Comparison
This section compares Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)'s net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.
Industry Context
- Industry: Drug Manufacturers - Specialty & Generic
- Average net assets among peers: $282,729,844
- Average return on equity (ROE) among peers: -24.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Verano Holdings Corp Ordinary Shares - Class A (Sub Voting) (VRNO) | CA$686.57 Million | 0.00% | 1.49x | $623.09 Million |
| Aurora Cannabis Inc (ACB) | $430.22K | 0.29% | 0.03x | $170.24 Million |
| Amotiv Limited (AOV) | $1.03 Billion | 2.34% | 0.02x | $576.83 Million |
| Aequus Pharmaceuticals Inc (AQS) | $-1.38 Million | 0.00% | 0.00x | $479.73K |
| Avicanna Inc (AVCN) | $26.38 Million | -26.91% | 0.07x | $11.83 Million |
| Avant Brands Inc (AVNT) | $36.41 Million | -26.83% | 0.24x | $6.23 Million |
| Bausch Health Companies Inc (BHC) | $1.35 Billion | 13.03% | 0.53x | $1.82 Billion |
| CanadaBis Capital Inc (CANB) | $317.23K | -43.61% | 0.10x | $1.53 Million |
| Cannabist Company Holdings Inc (CBST) | $286.95 Million | -35.14% | 1.54x | $12.41 Million |
| Cipher Pharmaceuticals Inc (CPH) | $80.52 Million | 25.31% | 0.07x | $297.19 Million |
| Cardiol Therapeutics Inc Class A (CRDL) | $13.27 Million | -155.60% | 0.20x | $121.18 Million |
About Verano Holdings Corp Ordinary Shares - Class A (Sub Voting)
Verano Holdings Corp. engages in the cannabis business in the United States. It is involved in the cultivation, processing, wholesale, and retail distribution of cannabis. The company also designs, builds, and operates cannabis dispensaries. It sells its products under the Encore, Avexia, MÜV, Savvy, Essence, BITS, HYPHEN, Swift Lifts, Verano, and Zen Leaf brand names to medical and adult use mar… Read more