Does Tilray Brands Stock Lead the Pack?
Tilray Brands stock has soared over the past year with a 484% return, but how does it truly measure up against pharmaceutical giants? As of December 1, 2025, a closer look reveals unprofitability, evidenced by negative LTM operating and FCF margins and a negative P/E ratio, alongside modest 2.3% LTM revenue growth. Despite market optimism, TLRY faces significant challenges, particularly compared to peers boasting robust profitability, steady growth, and strong free cash flow in a competitive industry.
- TLRY’s -10.7% operating margin reflects cannabis sector hurdles, like high costs and competition, while LLY’s 43.0% stems from blockbuster drug sales and pricing power.
- TLRY’s 2.3% revenue growth, impacted by cannabis market competition, lags LLY’s GLP-1 drug boom and JNJ’s acquisitions, but still outpaces MRK.
- TLRY’s 483.9% gain reflects cannabis speculation and regulatory hopes despite a -0.9 P/E, signalling future potential over current losses.
Here’s how Tilray Brands stacks up across size, valuation, and profitability versus key peers.
| TLRY | LLY | JNJ | MRK | PFE | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 8.3 | 949.9 | 494.5 | 254.1 | 143.7 |
| Revenue ($ Bil) | 0.8 | 53.3 | 92.1 | 64.2 | 62.8 |
| PE Ratio | -0.9 | 49.6 | 17.8 | 11.0 | 14.7 |
| LTM Revenue Growth | 2.3% | 36.8% | 5.1% | 1.7% | 3.9% |
| LTM Operating Margin | -10.7% | 43.0% | 26.2% | 34.9% | 24.6% |
| LTM FCF Margin | -11.6% | -0.1% | 20.3% | 20.3% | 16.5% |
| 12M Market Return | 483.9% | 34.0% | 36.5% | 3.9% | 3.4% |
For more details on Tilray Brands, read Buy or Sell TLRY Stock. Below we compare TLRY’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| TLRY | 2.3% | 4.1% | 25.8% | -0.2% | |
| LLY | 36.8% | – | 32.0% | 19.6% | 0.8% |
| JNJ | 5.1% | – | 4.3% | 6.5% | 1.6% |
| MRK | 1.7% | – | 6.7% | 1.4% | 21.7% |
| PFE | 3.9% | – | 6.8% | -41.1% | 24.5% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| TLRY | -10.7% | -13.1% | -14.3% | -28.4% | |
| LLY | 43.0% | – | 38.9% | 31.6% | 30.3% |
| JNJ | 26.2% | – | 24.9% | 27.5% | 26.3% |
| MRK | 34.9% | – | 31.5% | 4.9% | 30.8% |
| PFE | 24.6% | – | 23.3% | 7.1% | 36.7% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| TLRY | -0.9 | -0.5 | -7.0 | -4.4 | |
| LLY | 49.6 | – | 65.7 | 100.1 | 52.8 |
| JNJ | 17.8 | – | 24.8 | 11.3 | 25.8 |
| MRK | 11.0 | – | 14.7 | 757.8 | 19.3 |
| PFE | 14.7 | – | 18.7 | 76.7 | 9.2 |
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