Organigram Global (OGI)
Market Price (2/10/2026): $1.61 | Market Cap: $214.8 MilSector: Health Care | Industry: Pharmaceuticals
Organigram Global (OGI)
Market Price (2/10/2026): $1.61Market Cap: $214.8 MilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 62% | Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -123% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.9% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.8% | |
| Megatrend and thematic driversMegatrends include Legal Cannabis Market. Themes include Adult-Use Cannabis Products, Medical Cannabis & Therapeutics, and Cannabis Cultivation & Processing. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% | |
| Key risksOGI key risks include [1] significant profitability challenges and financial instability, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 62% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% |
| Megatrend and thematic driversMegatrends include Legal Cannabis Market. Themes include Adult-Use Cannabis Products, Medical Cannabis & Therapeutics, and Cannabis Cultivation & Processing. |
| Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -123% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.9% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.8% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% |
| Key risksOGI key risks include [1] significant profitability challenges and financial instability, Show more. |
Qualitative Assessment
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Organigram Global (OGI) stock has remained largely at the same level since 10/31/2025 because of the following key factors:
1. Mixed Financial Performance Despite Revenue Growth. Organigram reported record gross and net revenue, and a 160% increase in adjusted EBITDA for Fiscal 2025, ended September 30, 2025. This showcased strong operational performance and market share leadership in Canada. However, the company also posted a significant net loss of CAD 38 million for Q4 Fiscal 2025, primarily due to non-cash adjustments related to derivative liabilities and other financial assets. Additionally, free cash flow was slightly negative, indicating that strong revenue growth was offset by other financial pressures, leading to investor caution.
2. Investor Anticipation and Mixed Analyst Sentiment Ahead of Q1 2026 Earnings. The period under review largely preceded the release of Organigram's Q1 Fiscal 2026 results, which were scheduled for February 10, 2026. Leading up to this report, analyst sentiment was mixed, with some firms, like Wall Street Zen, downgrading the stock to "Sell" in late January 2026, while a general "Hold" consensus was noted by other analysts. This environment of uncertainty and a "wait-and-see" approach from investors likely contributed to the stock remaining range-bound as they awaited new financial data and future guidance.
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1. Mixed Financial Performance Despite Revenue Growth. Organigram reported record gross and net revenue, and a 160% increase in adjusted EBITDA for Fiscal 2025, ended September 30, 2025. This showcased strong operational performance and market share leadership in Canada. However, the company also posted a significant net loss of CAD 38 million for Q4 Fiscal 2025, primarily due to non-cash adjustments related to derivative liabilities and other financial assets. Additionally, free cash flow was slightly negative, indicating that strong revenue growth was offset by other financial pressures, leading to investor caution.
2. Investor Anticipation and Mixed Analyst Sentiment Ahead of Q1 2026 Earnings. The period under review largely preceded the release of Organigram's Q1 Fiscal 2026 results, which were scheduled for February 10, 2026. Leading up to this report, analyst sentiment was mixed, with some firms, like Wall Street Zen, downgrading the stock to "Sell" in late January 2026, while a general "Hold" consensus was noted by other analysts. This environment of uncertainty and a "wait-and-see" approach from investors likely contributed to the stock remaining range-bound as they awaited new financial data and future guidance.
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Stock Movement Drivers
Fundamental Drivers
The -1.9% change in OGI stock from 10/31/2025 to 2/9/2026 was primarily driven by a -15.6% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.62 | 1.59 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 224 | 259 | 15.8% |
| P/S Multiple | 1.0 | 0.8 | -15.6% |
| Shares Outstanding (Mil) | 134 | 133 | 0.4% |
| Cumulative Contribution | -1.9% |
Market Drivers
10/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| OGI | -1.9% | |
| Market (SPY) | 1.7% | 13.1% |
| Sector (XLV) | 8.4% | 2.6% |
Fundamental Drivers
The 18.7% change in OGI stock from 7/31/2025 to 2/9/2026 was primarily driven by a 33.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.34 | 1.59 | 18.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 194 | 259 | 33.5% |
| P/S Multiple | 0.9 | 0.8 | -8.1% |
| Shares Outstanding (Mil) | 129 | 133 | -3.3% |
| Cumulative Contribution | 18.7% |
Market Drivers
7/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| OGI | 18.7% | |
| Market (SPY) | 10.1% | 13.6% |
| Sector (XLV) | 20.4% | -1.8% |
Fundamental Drivers
The 6.0% change in OGI stock from 1/31/2025 to 2/9/2026 was primarily driven by a 62.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.50 | 1.59 | 6.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 160 | 259 | 62.2% |
| P/S Multiple | 0.7 | 0.8 | 25.6% |
| Shares Outstanding (Mil) | 69 | 133 | -48.0% |
| Cumulative Contribution | 6.0% |
Market Drivers
1/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| OGI | 6.0% | |
| Market (SPY) | 16.3% | 32.1% |
| Sector (XLV) | 7.8% | 20.0% |
Fundamental Drivers
The -56.3% change in OGI stock from 1/31/2023 to 2/9/2026 was primarily driven by a -54.4% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.64 | 1.59 | -56.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 159 | 259 | 63.3% |
| P/S Multiple | 1.8 | 0.8 | -54.4% |
| Shares Outstanding (Mil) | 78 | 133 | -41.3% |
| Cumulative Contribution | -56.3% |
Market Drivers
1/31/2023 to 2/9/2026| Return | Correlation | |
|---|---|---|
| OGI | -56.3% | |
| Market (SPY) | 77.1% | 30.7% |
| Sector (XLV) | 22.7% | 20.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OGI Return | 32% | -54% | -59% | 23% | 4% | -9% | -71% |
| Peers Return | 30% | 20% | -3% | 7% | 20% | 12% | 116% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| OGI Win Rate | 42% | 33% | 42% | 50% | 50% | 50% | |
| Peers Win Rate | 55% | 63% | 38% | 47% | 58% | 90% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| OGI Max Drawdown | 0% | -60% | -69% | -0% | -45% | -12% | |
| Peers Max Drawdown | -7% | -11% | -23% | -10% | -17% | -2% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LLY, JNJ, MRK, PFE, BMY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/9/2026 (YTD)
How Low Can It Go
| Event | OGI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -95.8% | -25.4% |
| % Gain to Breakeven | 2300.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -70.3% | -33.9% |
| % Gain to Breakeven | 236.6% | 51.3% |
| Time to Breakeven | 134 days | 148 days |
| 2018 Correction | ||
| % Loss | -75.3% | -19.8% |
| % Gain to Breakeven | 305.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to LLY, JNJ, MRK, PFE, BMY
In The Past
Organigram Global's stock fell -95.8% during the 2022 Inflation Shock from a high on 2/10/2021. A -95.8% loss requires a 2300.0% gain to breakeven.
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About Organigram Global (OGI)
Organigram Holdings Inc., through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co., Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates. The company also engages in the wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis derivative based products to retailers and wholesalers for adult-use recreational cannabis. It sells its products through online, as well as telephone channels. Organigram Holdings Inc. was founded in 2013 and is headquartered in Moncton, Canada.
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Here are 1-3 brief analogies for Organigram Global (OGI):
- Altria for cannabis
- Anheuser-Busch InBev for cannabis
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- Dried Cannabis Flower: High-quality cannabis buds intended for smoking or vaporization.
- Pre-rolls: Convenient, pre-rolled cannabis joints ready for immediate consumption.
- Cannabis Vapes: Vaporizer cartridges and devices containing concentrated cannabis extracts.
- Cannabis Edibles: Food products, such as chocolates and soft chews, infused with cannabis.
- Cannabis Extracts & Oils: Concentrated cannabis products available in various forms including tinctures, capsules, and resin.
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Organigram Global (OGI) sells primarily to other companies, particularly governmental provincial and territorial cannabis distributors in Canada, and international medical cannabis partners. Organigram also operates a direct-to-patient medical cannabis platform in Canada, serving individuals directly.
Major Customer Companies:
- Canadian Provincial and Territorial Cannabis Distributors: These are government-owned entities responsible for the wholesale distribution of recreational cannabis to retailers in their respective jurisdictions. They are not publicly traded companies and therefore do not have stock symbols. Key examples include:
- Ontario Cannabis Store (OCS)
- Société québécoise du cannabis (SQDC) - Quebec
- BC Liquor Distribution Branch (BCLDB) - British Columbia
- Alberta Gaming, Liquor & Cannabis (AGLC) - Alberta
- And other provincial/territorial distributors across Canada.
- International Medical Cannabis Partners: Organigram has supply agreements with various companies for medical cannabis in international markets.
- Canndoc Ltd. (Israel) - TASE: CANN
- Medcan Australia (Australia) - Private company
- Sanity Group (Germany) - Private company
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The management team of Organigram Global (OGI) includes the following members: Beena Goldenberg, CEO An accomplished business leader with over 30 years of experience in consumer-packaged goods manufacturing and marketing. Ms. Goldenberg transitioned to the cannabis industry in 2020 as President and CEO of The Supreme Cannabis Company Inc.. Prior to that, she served as CEO, President, and General Manager at Hain-Celestial Canada, ULC, where she led significant growth from $40 million to over $300 million in revenue. She also held senior leadership positions at companies such as Pillsbury Company Ltd, Parmalat Canada, and Catelli Foods Corp.. Ms. Goldenberg's leadership at Organigram, which began in September 2021, saw the company's net revenue grow from $80 million to over $250 million, and she oversaw three strategic acquisitions, including the purchase of Supreme Cannabis, which was acquired by Canopy Growth. She is slated to retire at the end of Organigram's fiscal year on September 30, 2025. Greg Guyatt, Chief Financial Officer Mr. Guyatt is a seasoned financial executive with over 25 years of international public company and private equity-backed company experience. He joined Phoena as Chief Financial Officer in 2019 and later became Chief Executive Officer in 2020. Before Phoena, he served as Chief Financial Officer of Greenspace Brands and held various senior finance positions at Kingsett Capital and Sears Canada. His appointment as CFO of Organigram was effective January 8, 2024. Paolo De Luca, Chief Strategy Officer Mr. De Luca has over 20 years of diversified financial business experience, having held senior financial, investor relations, and accounting leadership roles. His previous engagements include West Face Capital, Meridian LNG, Potash Ridge, C.A. Bancorp, and TD Securities. He has extensive experience with both traditional and non-traditional financing and debt offerings. Mr. De Luca previously served as Organigram's CFO from December 2017 to March 2020, during which he oversaw over a quarter of a billion dollars in capital raises and the company's migration to the Toronto Stock Exchange and NASDAQ. He was appointed Chief Strategy Officer in March 2020 and also served as interim CFO from November 2023 until January 2024. Tim Emberg, President of Organigram Canada (also Chief Commercial Officer) Mr. Emberg is an accomplished, bilingual business leader with over 25 years of experience in sales and marketing across various industries, including consumer packaged goods, pharma, and beverage alcohol. He has a strong understanding of Canadian market access and regulatory environments, which he brought to the cannabis industry. He has previously held roles at Roche Canada, Jamieson Laboratories, and Frito-Lay Canada. Helen Martin, Chief Legal Officer Prior to joining Organigram, Ms. Martin spent four years as Chief Operating Officer of a TSX-listed issuer focused on private equity insurance investments. She also has experience in private practice as a securities law associate at Blakes and as a student at Davies Ward Phillips & Vineberg, focusing on corporate and securities law matters. Additionally, Ms. Martin served as General Counsel at C.A. Bancorp Inc., a publicly traded private equity firm, and as In-House Counsel at Sentry Investments.AI Analysis | Feedback
Here are the key risks to Organigram Global (OGI):- Regulatory Changes and Market Volatility: Organigram operates in the cannabis industry, which is subject to significant regulatory changes and market volatility. These risks include shifts in domestic and international cannabis regulations, which can impact market performance, expansion strategies, and even the legality of certain products. For instance, potential legislative changes in the U.S. regarding hemp-derived THC products could affect Organigram's U.S. operations. Additionally, the company faces risks related to regulatory enforcement, such as increased THC testing protocols, which have previously impacted market share due to "THC inflation" by other companies.
- Intense Market Competition and Profitability Challenges: The broader cannabis industry is characterized by structural challenges, including intense competition from both legal and illegal sources, leading to market saturation in Canada. Organigram faces profitability challenges, evidenced by a mixed financial outlook, an operating margin of -7.62%, and a significant increase in net loss in recent quarters, partly due to non-cash changes in derivative liabilities. The company's Altman Z-Score also places it in a distress zone, highlighting potential financial instability. Oversupply and declining profit margins further compound these competitive pressures.
- Operational Risks and Supply Chain Disruptions: Organigram is exposed to operational risks, including potential supply chain disruptions that could affect production and distribution. A notable concern is the concentration of its primary growing facility in Moncton, where any issues could negatively impact production and revenue. Furthermore, the company has experienced financial impacts from higher biomass costs and temporary disruptions related to the integration of its Enterprise Resource Planning (ERP) system following the Motif acquisition.
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- Emergence of biosynthesis for cannabinoids, where companies are increasingly developing methods to produce cannabinoids through microorganisms (e.g., yeast fermentation). This technology promises highly consistent, pure, and potentially much lower-cost cannabinoids, which could fundamentally disrupt the traditional plant-based cultivation industry that Organigram heavily relies upon.
- Accelerating momentum towards federal cannabis reform in the United States. Should federal legalization or significant descheduling occur, it is highly probable that the US market would initially implement protectionist measures, preventing or significantly hindering Canadian Licensed Producers like Organigram from directly entering this vast new market. This would lead to the rapid emergence of a highly capitalized and competitive US domestic industry, diverting investment and attention away from Canadian LPs, and eroding the global first-mover advantage currently held by companies like Organigram without offering reciprocal market access.
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Organigram Global (symbol: OGI) operates primarily in the legal cannabis market, producing and selling a variety of cannabis and cannabis-derived products for both adult-use recreational and medical purposes. Their main product categories include cannabis flowers, pre-rolls, vapes, gummies, edibles, cannabis oils, and concentrates.
The addressable markets for Organigram Global's main products are:
- Canada: The legal cannabis market in Canada was valued at approximately USD 3.25 billion in 2024 and is projected to reach USD 5.79 billion by 2030. Recreational cannabis sales in Canada alone reached CA$5.07 billion (approximately USD 3.8 billion) in 2023. The broader Canadian Cannabis Production industry is estimated at USD 13.0 billion in 2025. Organigram has established a significant presence in this market, becoming Canada's largest cannabis company by market share (12.4%) as of December 2024, following the acquisition of Motif Labs.
- Germany: The legal cannabis market in Germany was estimated at USD 2.04 billion in 2024 and is expected to grow substantially, reaching USD 9.66 billion by 2033. Another projection estimates the German legal cannabis market to reach USD 4.85 billion by 2033, growing at a CAGR of 16.76% from 2023. Germany's medical cannabis patient numbers have seen a significant increase, and the country legalized cannabis possession for personal use in April 2024, further expanding the market. Organigram has an increasing focus on this region, with investments in German cannabis companies and exports of its products.
Organigram Global also exports premium indoor-grown cannabis to Australia and the United Kingdom. Additionally, the company has strategic investments in the U.S. in hemp-derived extracts and formulations (Open Book Extracts) and cannabis technology/genetics (Phylos Bioscience), positioning for future opportunities in that market.
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Organigram Global (OGI) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Expansion into the U.S. Hemp-Derived THC Market: Organigram is actively entering the rapidly growing U.S. hemp-derived THC beverage and edible market through its acquired brand, Collective Project, and its new brand, Happly. The company launched a direct-to-consumer e-commerce platform for these products across 25 states and is "bullish" on the market's potential, which is projected to reach $4 billion by 2028. This multi-phase U.S. expansion strategy includes a diverse portfolio of hemp-derived THC beverages and gummies.
- Continued International Expansion and Export Growth: The company's rebranding to Organigram Global reflects its focus on international markets. Organigram is increasing its cannabis exports to countries such as Germany, Australia, and the United Kingdom. A strategic investment in Germany's Sanity Group and the expected completion of EU Good Manufacturing Practice (EU-GMP) certification are anticipated to further scale these international exports and meet growing global demand.
- Maintaining and Growing Canadian Market Share through Product Innovation and Strategic Acquisitions: Organigram remains a leading licensed producer in the Canadian recreational cannabis market, consistently achieving top market share positions. The company focuses on product innovation and quality, holding dominant market shares in key categories like gummies, hash, pre-rolls, and vapes. The acquisition of Motif Labs positioned Organigram as Canada's largest cannabis company by market share, further solidifying its domestic leadership.
- Realizing Synergies from Recent Acquisitions and Strategic Investments: Organigram expects to achieve significant cost synergies from the integration of recent acquisitions, such as Motif Labs, which management upgraded to approximately $15 million in annual run-rate synergies. Additionally, the company is deploying capital from its strategic investment arm, Jupiter, for international mergers and acquisitions and strategic investments, which could unlock new revenue streams and expand its global footprint. These strategic investments also include leveraging seed-based cultivation technology through Phylos Bioscience to reduce costs and increase cultivation capacity.
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Share Issuance
- Organigram completed an at-the-market equity program in April-June 2020, issuing 21,080,229 common shares for gross proceeds of approximately C$49 million.
- British American Tobacco (BAT) made a C$221 million strategic investment in Organigram in March 2021, which included the issuance of shares.
- A C$124.6 million follow-on strategic equity investment from BAT involved the issuance of 38.7 million shares over three tranches, with closings from November 2023 to early 2025.
Inbound Investments
- British American Tobacco (BAT) made a C$221 million strategic investment in March 2021, partly used to establish a Product Development Center.
- In November 2023, BAT provided a C$124.6 million follow-on strategic equity investment, allocating C$83.1 million to the "Jupiter" strategic investment pool and C$41.5 million for general corporate purposes.
- Total strategic investments from BAT since 2021 exceed C$345 million.
Outbound Investments
- Organigram acquired Motif Labs in December 2024 for C$90 million, comprising C$50 million in cash and C$40 million in stock, with a potential C$10 million contingent payment.
- The company acquired Collective Project in March 2025 to enter the cannabinoid beverages category and expand into the U.S. market.
- Capital has been deployed from the "Jupiter" investment pool into Open Book Extracts (US$2 million) and Sanity Group (approximately US$21 million), with C$59 million remaining for international strategic investments as of Q3 Fiscal 2025.
Capital Expenditures
- Capital expenditures were CAD 19.74 million in 2020, CAD 5.34 million in 2021, CAD 48.78 million in 2023, and CAD 12.33 million in 2024.
- For fiscal year 2025, planned sustaining capital expenditures are C$8-10 million, in addition to approximately C$9 million for the Moncton LED program.
- Capital expenditures are primarily focused on international expansion, EU-GMP certification, and investments in capacity and extraction, including an LED retrofit, expanded hydrocarbon/distillate capacity, and a C$1.2 million beverage line.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| With Organigram Global Stock Surging, Have You Considered The Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 89.21 |
| Mkt Cap | 223.7 |
| Rev LTM | 61,103 |
| Op Inc LTM | 18,904 |
| FCF LTM | 11,712 |
| FCF 3Y Avg | 11,262 |
| CFO LTM | 16,342 |
| CFO 3Y Avg | 13,487 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.5% |
| Rev Chg 3Y Avg | 4.5% |
| Rev Chg Q | 5.2% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Mgn LTM | 25.4% |
| Op Mgn 3Y Avg | 21.5% |
| QoQ Delta Op Mgn LTM | 2.0% |
| CFO/Rev LTM | 26.4% |
| CFO/Rev 3Y Avg | 23.4% |
| FCF/Rev LTM | 18.4% |
| FCF/Rev 3Y Avg | 17.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 223.7 |
| P/S | 3.6 |
| P/EBIT | 12.8 |
| P/E | 18.1 |
| P/CFO | 14.5 |
| Total Yield | 7.7% |
| Dividend Yield | 2.4% |
| FCF Yield 3Y Avg | 4.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 7.2% |
| 3M Rtn | 20.1% |
| 6M Rtn | 37.4% |
| 12M Rtn | 16.3% |
| 3Y Rtn | 7.6% |
| 1M Excs Rtn | 6.7% |
| 3M Excs Rtn | 16.9% |
| 6M Excs Rtn | 28.6% |
| 12M Excs Rtn | 2.1% |
| 3Y Excs Rtn | -56.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Recreational Flower, net of excise duty | 93 | 62 | 50 |
| International Flower and Oil | 15 | 0 | 3 |
| Recreational Edibles, net of excise duty | 12 | 1 | 2 |
| Medical, net of excise duty | 7 | 9 | 7 |
| Recreational Hash, net of excise duty | 6 | 0 | |
| Recreational Vapes, net of excise duty | 6 | 4 | 7 |
| Recreational Ingestible Extracts, net of excise duty | 5 | 0 | 0 |
| Wholesale and Other | 1 | 2 | 15 |
| Recreational Infused Pre-rolls, net of excise duty | 0 | 0 | |
| Recreational Oil, net of excise duty | 0 | -1 | |
| Recreational Powder, net of excise duty | 0 | 0 | |
| Medical Flower, net of excise duty | 3 | ||
| Medical Powder, net of excise duty | 0 | ||
| Medical Vapes & Edibles, net of excise duty | 0 | ||
| Total | 146 | 79 | 87 |
Price Behavior
Price Behavior
| Market Price | $1.59 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 03/16/2018 | |
| Distance from 52W High | -24.6% | |
| 50 Days | 200 Days | |
| DMA Price | $1.68 | $1.56 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -5.5% | 2.0% |
| 3M | 1YR | |
| Volatility | 65.0% | 62.7% |
| Downside Capture | 38.85 | 128.17 |
| Upside Capture | 13.95 | 102.81 |
| Correlation (SPY) | 9.2% | 31.8% |
OGI Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.50 | -2.10 | 0.49 | 0.66 | 1.04 | 1.42 |
| Up Beta | -2.75 | -2.73 | 2.76 | 1.48 | 1.13 | 1.21 |
| Down Beta | 0.22 | -3.34 | -0.57 | 1.08 | 0.71 | 1.11 |
| Up Capture | 12% | -111% | 17% | 35% | 114% | 262% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 7 | 16 | 24 | 55 | 111 | 328 |
| Down Capture | 313% | -100% | 70% | 13% | 118% | 112% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 11 | 21 | 32 | 60 | 118 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OGI | |
|---|---|---|---|---|
| OGI | -4.9% | 62.7% | 0.16 | - |
| Sector ETF (XLV) | 7.7% | 17.3% | 0.27 | 20.2% |
| Equity (SPY) | 15.5% | 19.4% | 0.62 | 31.9% |
| Gold (GLD) | 78.8% | 24.9% | 2.30 | 12.4% |
| Commodities (DBC) | 9.9% | 16.6% | 0.40 | 15.8% |
| Real Estate (VNQ) | 4.8% | 16.5% | 0.11 | 26.8% |
| Bitcoin (BTCUSD) | -27.0% | 44.8% | -0.57 | 27.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OGI | |
|---|---|---|---|---|
| OGI | -27.4% | 80.8% | -0.05 | - |
| Sector ETF (XLV) | 7.8% | 14.5% | 0.36 | 20.3% |
| Equity (SPY) | 14.2% | 17.0% | 0.67 | 32.0% |
| Gold (GLD) | 22.3% | 16.9% | 1.07 | 9.7% |
| Commodities (DBC) | 11.6% | 18.9% | 0.49 | 12.3% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 26.3% |
| Bitcoin (BTCUSD) | 14.7% | 58.0% | 0.47 | 21.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OGI | |
|---|---|---|---|---|
| OGI | -25.5% | 83.3% | -0.15 | - |
| Sector ETF (XLV) | 10.7% | 16.6% | 0.54 | 23.2% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 31.6% |
| Gold (GLD) | 15.8% | 15.5% | 0.85 | 6.3% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 14.0% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 27.1% |
| Bitcoin (BTCUSD) | 69.0% | 66.8% | 1.08 | 18.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 12/16/2025 | 40-F |
| 06/30/2025 | 08/13/2025 | 6-K |
| 03/31/2025 | 05/12/2025 | 6-K |
| 12/31/2024 | 02/11/2025 | 6-K |
| 09/30/2024 | 12/18/2024 | 40-F |
| 06/30/2024 | 08/13/2024 | 6-K |
| 03/31/2024 | 05/14/2024 | 6-K |
| 12/31/2023 | 02/13/2024 | 6-K |
| 09/30/2023 | 12/19/2023 | 40-F |
| 05/31/2023 | 07/14/2023 | 6-K |
| 02/28/2023 | 04/12/2023 | 6-K |
| 11/30/2022 | 01/12/2023 | 6-K |
| 08/31/2022 | 11/29/2022 | 40-F |
| 05/31/2022 | 07/14/2022 | 6-K |
| 02/28/2022 | 04/12/2022 | 6-K |
| 11/30/2021 | 01/11/2022 | 6-K |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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