Trulieve Cannabis Corp. (TRLV) Stock Price & Analysis
Trulieve Cannabis Corp. (TRLV) is trading at USD 10.28, down 5.86% today, as of October 23, 2026 at 18:38 UTC (US market open; quotes may be delayed), according to Nexqual market data.
TRLV last closed at USD 10.92; today's session has ranged USD 10.17–10.95 on volume of 977,300 shares. Market capitalization is $1.98B, with a 52-week range of USD 4.62–13.28 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 18:39 UTC.
Also available as compact Markdown for AI agents: nexqual.com/TRLV.md
Key facts (TRLV)
- Last four reported quarters (through Jun 30, 2026): revenue $1.14B, net income -$476M (-41.8% margin), free cash flow $194M (SEC filings).
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $14.7M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 18.18 (range 15–21).
- Total return with dividends: 1Y +35.8% vs S&P 500 +14.5%; 5Y -59.2% vs S&P 500 +77.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.07, revenue estimate $222M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (TRLV)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $932M | $1.22B | $1.13B | $1.19B | $1.18B | $1.14B |
| Gross profit | $567M | $689M | $589M | $716M | $711M | — |
| Operating income | $204M | $50.2M | -$222M | $97.8M | $143M | -$277M |
| Net income | $17.4M | -$253M | -$533M | -$161M | -$122M | -$476M |
| EPS (diluted) | $0.21 | -$0.95 | -$2.28 | -$0.79 | -$0.58 | — |
| Free cash flow | -$263M | -$142M | $162M | $149M | $229M | $194M |
| Gross margin | 60.8% | 56.6% | 52.1% | 60.3% | 60.2% | — |
| Operating margin | 21.9% | 4.1% | -19.6% | 8.2% | 12.1% | -24.3% |
| Net margin | 1.9% | -20.7% | -47.2% | -13.5% | -10.3% | -41.8% |
| Revenue growth | +78.7% | +30.7% | -7.3% | +5.1% | -0.4% | — |
| Cash + short-term investments | $227M | $207M | $201M | $299M | $256M | — |
| Total debt | $463M | $542M | $363M | $365M | $137M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (TRLV)
P/S 1.7x · P/FCF 10.2x · P/B 2.6x · FCF yield 9.81% · Earnings yield -24.05%
Insider sales (SEC Form 4, open-market, last ~7 months) (TRLV)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-26 | Rivers Kim A. | Chairman and CEO | 136,811 | $1.2M | 8.5% | Yes (adopted March 16, 2026) | Too little history (no open-market trades in 2025) |
| 2026-06-23…2026-06-25 | Rivers Kim A. | Chairman and CEO | 1,080,000 | $8.9M | 40.1% | Yes (adopted March 16, 2026) | Too little history (no open-market trades in 2025) |
| 2026-06-17…2026-06-22 | Rivers Kim A. | Chairman and CEO | 482,196 | $4.5M | 15.2% | Yes (adopted March 16, 2026) | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (TRLV)
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 18.18 (low 15, high 21).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Cantor Fitzgerald | Reiterated | Overweight | $15 |
| 2026-08-07 | Cantor Fitzgerald | Reiterated | Overweight | $15 |
| 2026-07-20 | Cantor Fitzgerald | Initiated | Overweight | $15 |
Total return (dividends reinvested) (TRLV)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +35.8% | -59.2% |
| S&P 500 (SPY) | +14.5% | +77.1% |
| Per year | +35.8% | -16.4% |
| Volatility (annualized) | 101.6% | 83.9% |
| Max drawdown | -54.4% (Dec 2025→Mar 2026) | -89.6% (Nov 2021→Mar 2025) |
TRLV revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Retail | $254.9M | 94.1% | -10.2% |
| Wholesale and other | $16.0M | 5.9% | -11.9% |
| Total revenue | $271.0M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
TRLV company outlook (results filed May 7, 2026)
- “These forward-looking statements relate to the Company's expectations or forecasts of business, operations, financial performance, cash flows, prospects, and other plans, intentions, expectations, estimates, and beliefs and include statements regarding the Company's 2026 objectives, growth opportunities, and positioning for the future.”
Quoted word-for-word from the SEC 8-K results press release.
TRLV analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.07 | $0.03 | +133.3% | $221.6M | 2 |
| Next quarter (ends Dec 2026) | $0.07 | $0.04 | +87.5% | $229.5M | 2 |
| Current fiscal year (ends Dec 2026) | $-1.82 | $0.21 | -982.0% | $1.01B | 5 |
| Next fiscal year (ends Dec 2027) | $0.56 | $0.24 | +132.4% | $936.4M | 3 |
TRLV options: expected move
Options price a move of about ±20.2% (±$2.20) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±8.8% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 89.3% | ±20.2% |
| Dec 18, 2026 | 56 | 93.2% | ±29.4% |
| Jan 15, 2027 | 84 | 92.4% | ±35.6% |
| Apr 16, 2027 | 175 | 92.6% | ±50.7% |
| Jun 17, 2027 | 237 | 92.4% | ±58.3% |
30-day implied volatility 86.2% vs 60.4% realized over the last 30 trading days. Put/call ratio (volume) 0.08. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 18:39 UTC)
| Price | USD 10.28 |
|---|---|
| Change | ▼ 5.86% (down) |
| Previous Close | USD 10.92 |
| Open | USD 10.79 |
| Day Range | USD 10.17 – 10.95 |
| 52-Week Range | USD 4.62 – 13.28 |
| Volume | 977,300 shares |
| Market Cap | $1.98B |
| Exchange | NYQ |
Technical Analysis (TRLV)
Nexqual's technical model rates TRLV "STRONG SELL" based on 0 bullish and 5 bearish signals across 128 daily candles, as of October 23, 2026 at 18:39 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 40.56 (neutral) |
| vs SMA50 | Below (USD 11.12) |
| MACD | -0.18 (negative) |
Analyst Ratings (TRLV)
Wall Street analysts rate TRLV "Buy" based on 7 analysts, with a mean price target of USD 18.18 (range USD 15–21), per Nexqual as of October 23, 2026 at 18:39 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 18.18 |
| High Target | USD 21 |
| Low Target | USD 15 |
| Buy / Hold / Sell | 7 / 0 / 0 |
Earnings (TRLV)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.07 |
| Revenue Estimate | $221.63M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.11 vs est 0.03 ▲ beat |
| 2026-03-31 | USD 0.1 vs est -0.05 ▲ beat |
| 2025-12-31 | USD -0.02 vs est -0.03 ▲ beat |
| 2025-09-30 | USD -0.07 vs est -0.07 ▼ miss |
Source: Nexqual, October 23, 2026 at 18:39 UTC.
Financials & Fundamentals (TRLV)
| Total Revenue | $1.14B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -10.30% |
| Gross Margin | +59.47% |
| Operating Margin | +12.84% |
| Profit Margin | -41.55% |
| ROE | -47.65% |
| Debt / Equity | 0.75 |
| Current Ratio | 5.94 |
| Total Cash | $325.42M |
| Total Debt | $577.87M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $194.21M (17.1% of revenue) |
Source: Nexqual, October 23, 2026 at 18:39 UTC.
Financial Health Score (TRLV)
Nexqual rates Trulieve Cannabis Corp.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 18:39 UTC.
| Growth | Weak — Revenue -0% YoY (annual), declining |
|---|---|
| Profitability | Strong — Gross margin 59%, operating 13% (last 12 months) |
| Balance Sheet | Mixed — $256M cash and investments vs $137M debt (Dec 2025, SEC), net cash |
| Cash Flow | Strong — FCF $194M (last 4 quarters to Jun 2026, SEC), 17% margin |
| Efficiency | Critical — ROE -48%, ROA 3.3% |
Ownership (TRLV)
| Insider Ownership | +1.23% |
|---|---|
| Institutional Ownership | +24.34% |
| Shares Outstanding | 170.16M |
| Float | 167.89M |
| Short % of Float | +3.87% |
Source: Nexqual, October 23, 2026 at 18:39 UTC.
Leadership (TRLV)
Trulieve Cannabis Corp. is led by Kimberly Rivers, Founder, Chairman & CEO, per Nexqual as of October 23, 2026 at 18:39 UTC.
| Founder, Chairman & CEO | Kimberly Rivers |
|---|---|
| Chief Financial Officer | Jan Reese |
| Chief Production Officer | Kyle Landrum |
| Chief Technology Officer | Nilyum Jhala |
| Chief Marketing Officer | Elias Aguilera |
Major Backers & Investors (TRLV)
Notable institutional backers of Trulieve Cannabis Corp. include AdvisorShares Trust-AdvisorShares Pure US Cannabis ETF, AdvisorShares Investments, LLC, Nomura Holdings Inc., according to Nexqual as of October 23, 2026 at 18:39 UTC.
Active Investors
| Investor | Stake |
|---|---|
| AdvisorShares Trust-AdvisorShares Pure US Cannabis ETF | 15.44% |
| AdvisorShares Investments, LLC | 6.25% |
| Nomura Holdings Inc. | 2.98% |
| Cantor Fitzgerald, L.P. | 2.2% |
| Marex Group Ltd. | 1.91% |
| ING Groep N.V. | 1.57% |
| Oakmont Corp | 0.89% |
| Jane Street Group, LLC | 0.71% |
Source: Nexqual, October 23, 2026 at 18:39 UTC.
From Trulieve Cannabis Corp.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- Headquartered in Tallahassee, Florida, we are the largest cannabis retailer in the United States with market leading retail operations in Arizona, Florida, Georgia, Pennsylvania, and West Virginia.
- Our investments in vertically integrated operations in several of our markets afford us ownership of the entire supply chain, which mitigates third-party risks and allows us to completely control product quality and brand experience.
- Our goal is to foster brand loyalty by providing customers with industry-leading branded products and superior service in an appealing, approachable setting.
- Trulieve is a vertically integrated cannabis company and multi-state operator with operations in nine states.
Legal & Regulatory Risks (Item 1A, quoted)
- We may be subject to constraints on and differences in marketing our products under varying state laws.
- We could be materially adversely impacted due to restrictions under U.S. border entry laws.
- Our existing operations in the United States, and any future operations, may become the subject of heightened scrutiny by regulators, stock exchanges and other authorities in the United States and Canada.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 18:39 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt