Cannabis Global Inc (CBGL) Stock Analysis — April 2026
Executive Summary
Cannabis Global Inc (OTC: CBGL) is a multi-state operator (mso) company currently priced at $16.10 per share with a market capitalization of $672.0M. The company generates trailing twelve-month revenue of $1.36B with a gross margin of 24.2% and year-over-year revenue growth of -8.70%. The stock trades on the OTC exchange in the United States market, and is positioned as a mid-cap player within the cannabis sector.
Key Takeaways
Cannabis Global Inc has a market cap of $672.0M, making it a mid-cap cannabis company listed on the OTC.
Trailing twelve-month revenue is $1.36B with year-over-year growth of -8.7%. Declining revenue is a concern that warrants attention.
The company's gross margin stands at 24.2%. Margins are in line with industry averages but leave room for improvement.
Cannabis Global Inc holds $467.9M in cash against $98.5M in debt, resulting in a net cash position of $369.4M and an estimated 31.5 months of cash runway.
The stock trades at a P/S ratio of 3.73x and EV/Revenue of 1.61x. Multiples are in a moderate range for cannabis stocks.
At $16.10, the stock trades at 20% of its 52-week range ($13.57 – $26.19). Trading near yearly lows could present value for contrarian investors.
The annual share dilution rate is 0.5%. Low dilution is a positive sign of disciplined capital management.
Cannabis Global Inc Company Overview
Cannabis Global Inc (OTC: CBGL) is a multi-state operator (mso) company currently trading at $16.10 per share with a market capitalization of $672.0M. The stock gained +2.27% in the most recent trading session on volume of 16.0M shares. Cannabis Global Inc is headquartered in the United States and employs approximately 935 people. As a participant in the multi-state operator (mso) segment, the company operates within one of the most dynamic and rapidly evolving sectors of the North American economy.
On the revenue front, Cannabis Global Inc generated $1.36B in trailing twelve-month (TTM) revenue, reflecting year-over-year growth of -8.7%. This growth rate is trailing the MSO sector average of 0.0%. Cannabis Global Inc maintains a moderate gross margin of 24.2%, indicating the company is generating positive gross profit on its sales, though operational profitability may still be a work in progress. Revenue trends in the cannabis industry are closely watched by analysts, as the sector continues to navigate pricing compression, oversupply dynamics in certain markets, and the ongoing burden of IRS Section 280E, which prevents cannabis businesses from deducting ordinary business expenses at the federal level.
Financial Analysis
Cannabis Global Inc generated $1.36B in trailing twelve-month revenue, reflecting year-over-year growth of -8.70%. The company's gross margin of 24.2% translates to approximately $329.9M in gross profit over the trailing twelve months. This margin profile places Cannabis Global Inc in a moderate position within the cannabis sector, generating meaningful gross profit but with room for improvement.
Revenue momentum is a critical metric for cannabis companies, as the industry continues to evolve through shifts in consumer demand, regulatory changes, and competitive dynamics. Cannabis Global Inc's revenue decline of -8.70% is a notable concern that may be attributable to market headwinds, competitive pressure, pricing compression, or strategic transitions. Investors should closely monitor whether this trend stabilizes or accelerates in coming quarters. The cannabis industry's profitability dynamics are heavily influenced by IRS Section 280E, which prevents plant-touching operators from deducting ordinary business expenses for federal income tax purposes, effectively creating tax rates that can exceed 70% of gross profit.
Valuation Analysis
From a valuation perspective, Cannabis Global Inc trades at a price-to-sales (P/S) ratio of 3.73x, which is above the sector median of 0.00x, suggesting the market is pricing in higher growth expectations or a premium for Cannabis Global Inc's market position. The enterprise value-to-revenue (EV/Revenue) multiple stands at 1.61x. Cannabis stock valuations have compressed significantly from their 2021 highs, and current multiples reflect a more mature market environment where investors demand clear paths to profitability. For context, the broader MSO sector contains 30 publicly traded companies tracked by CannaCap, and Cannabis Global Inc's valuation should be considered within the context of its specific growth profile and competitive positioning.
At a price-to-sales ratio of 3.73x and an enterprise value-to-revenue multiple of 1.61x, Cannabis Global Inc's valuation reflects the market's current assessment of the company's growth potential and risk profile. Enterprise value — calculated as market capitalization plus total debt minus cash — stands at approximately $302.6M, providing a more complete picture of the company's total valuation when accounting for balance sheet items. Investors should compare these multiples against both direct sector peers and historical ranges to determine whether CBGL is trading at a premium or discount.
Balance Sheet Deep Dive
The company holds a net cash position of $369.4M, with $467.9M in cash and equivalents against $98.5M in total debt. This provides a financial cushion of approximately 31.5 months of operating runway at current burn rates. Access to capital remains a persistent challenge for cannabis companies, particularly plant-touching operators that are excluded from traditional banking services and institutional lending. Many cannabis companies have turned to sale-leaseback transactions, private placements, and at-the-market (ATM) equity offerings to fund operations. Cannabis Global Inc's balance sheet should be evaluated with these industry-specific constraints in mind.
Cannabis Global Inc maintains a net cash position of $369.4M, which represents a meaningful financial cushion. With $467.9M in cash and equivalents against $98.5M in total debt, the company has an estimated 32 months of operating runway at the current rate of cash consumption. This runway provides management with flexibility to pursue organic growth initiatives, evaluate strategic M&A opportunities, and navigate the capital-constrained cannabis industry without immediate pressure to raise dilutive equity capital.
The company's annual share dilution rate of 0.5% is relatively low, indicating disciplined capital management and reduced reliance on dilutive equity financing. Low dilution is a positive signal that the company is capable of funding operations through internal cash flows or non-dilutive sources. With 41.7M shares currently outstanding, any additional equity issuance directly impacts per-share metrics including earnings per share, book value per share, and ownership percentage.
Multi-State Operator (MSO) Sector Context
Within the Multi-State Operator (MSO) sector, Cannabis Global Inc ranks #4 out of 30 companies by market capitalization, commanding a 8.7% share of the sector's total market cap of $7.74B. Multi-State Operators are vertically integrated cannabis companies that cultivate, process, and sell cannabis products across multiple U.S. states. MSOs typically hold licenses in several state-legal markets and operate dispensary retail chains alongside cultivation and manufacturing facilities. The largest company in the sector by market cap is Curaleaf Holdings (CURLF) at $1.80B, followed by Green Thumb Industries (GTBIF) at $1.54B.
By revenue, Cannabis Global Inc ranks #1 in its sector with $1.36B in trailing twelve-month sales. The sector's top revenue generator is Cannabis Global Inc at $1.36B. Cannabis Global Inc's gross margin of 24.2% compares to a sector average of 0.8%, placing it above the peer group midpoint. Revenue growth of -8.7% year-over-year reflects challenges that may include market headwinds, competitive pressure, or strategic transitions.
What distinguishes Cannabis Global Inc within the Multi-State Operator (MSO) space includes the highest revenue generator among its peers; significantly above-average profitability (24.2% gross margin vs. 0.8% sector average); a strong cash runway of 31.5 months; minimal share dilution at just 0.5% annually. These characteristics help define the company's competitive positioning and investment thesis relative to the 29 other MSO companies tracked by CannaCap. Investors comparing cannabis stocks within this sector should consider not just valuation multiples, but also balance sheet strength, management execution, and geographic or product diversification.
Historical Price Performance
Cannabis Global Inc (CBGL) currently trades at $16.10, which places the stock at approximately 20% of its 52-week trading range. Over the past twelve months, CBGL has traded as high as $26.19 and as low as $13.57, representing a 93.0% spread between the yearly high and low. The current price sits 38.5% below the 52-week high and 18.6% above the 52-week low. This range provides important context for understanding the stock's recent volatility and where current levels fall within the broader price history.
In the most recent trading session, CBGL rose +2.27% from a previous close of $15.74 to $16.10, on volume of 16.0M shares. This positive session is within the range of normal daily fluctuations for cannabis stocks, which tend to exhibit higher volatility than the broader equity market. The stock has 41,738,616 shares outstanding, giving it a fully diluted market capitalization that investors should factor into their analysis alongside the current $672.0M market cap figure.
Cannabis stocks have historically exhibited significant price volatility driven by regulatory developments, earnings surprises, and shifts in market sentiment toward the sector. CBGL is trading in the lower portion of its 52-week range, which could represent a value opportunity for contrarian investors, or may reflect deteriorating fundamentals that warrant caution. Historical price levels should be considered alongside fundamental data — including revenue trends, margin improvement, and balance sheet health — to form a complete investment thesis.
Investment Thesis
A balanced framework for evaluating Cannabis Global Inc (CBGL) as a potential investment, considering both the upside catalysts and downside risks based on the company's current financial data and industry positioning.
Revenue stabilization and potential for operational improvements could reignite top-line growth. With TTM revenue of $1.36B, even modest gains in market share or pricing power could meaningfully impact the company's financial trajectory and investor sentiment toward CBGL.
Positive gross margin of 24.2% with room for expansion as the company scales operations and optimizes its cost structure. Industry-wide margin improvements driven by state-level regulatory maturation and potential federal reform (particularly the elimination of Section 280E) could provide a significant tailwind.
Net cash position of $369.4M provides financial flexibility for strategic acquisitions, organic expansion, and weathering industry downturns. With approximately 32 months of cash runway, Cannabis Global Inc has a meaningful buffer to execute on its business plan without immediate dilutive capital raises.
Declining revenue of -8.70% year-over-year raises concerns about Cannabis Global Inc's competitive positioning and demand trends. Revenue contraction in a growing industry could signal market share losses, pricing pressure, or execution challenges that may persist in the near term.
Cannabis companies continue to face restricted access to traditional banking, institutional capital, and federal bankruptcy protections. These structural disadvantages increase the cost of capital and limit Cannabis Global Inc's financial flexibility compared to companies in federally legal industries, creating an uneven competitive landscape.
Regulatory uncertainty remains the single largest risk for Cannabis Global Inc and all cannabis investments. Federal prohibition in the United States creates ongoing challenges including Section 280E tax burdens, limited interstate commerce, and the risk of enforcement actions. State-level regulatory changes, licensing moratoriums, and social equity requirements add additional layers of unpredictability that can materially impact the company's operations and growth plans.
Risk Factors
Key risks that investors should consider before investing in Cannabis Global Inc (CBGL). This is not an exhaustive list, and investors should conduct their own due diligence.
Regulatory & Legal Risk
Cannabis remains a Schedule I controlled substance under federal law, creating fundamental legal uncertainty for Cannabis Global Inc and all plant-touching cannabis operators. Changes in federal enforcement policy, state regulatory frameworks, or local ordinances could materially impact the company's operations, licensing, and financial performance. The evolving patchwork of state regulations creates compliance complexity and limits the ability to operate across state lines.
Section 280E Tax Burden
Under IRS Section 280E, cannabis businesses are prohibited from deducting ordinary business expenses for federal income tax purposes. This effectively results in tax rates that can exceed 70% of gross profit for plant-touching operators, significantly reducing cash flow available for reinvestment and debt service. While potential rescheduling could eliminate this burden, the timeline and outcome remain uncertain, and Cannabis Global Inc's profitability metrics should be evaluated with this tax overhang in mind.
Market & Competition Risk
The cannabis industry faces pricing pressure from oversupply in mature markets, competition from the illicit market (which avoids regulatory costs and taxation), and evolving consumer preferences. Cannabis Global Inc competes for market share against both established operators and well-funded new entrants. Price compression in key markets has squeezed margins across the industry, and any worsening of these trends could materially impact the company's revenue and profitability outlook.
Frequently Asked Questions
Common questions about Cannabis Global Inc (CBGL) stock, answered with real-time data from Cannabismarketcap.
What is Cannabis Global Inc's (CBGL) stock price today?
Cannabis Global Inc (CBGL) stock is currently trading at $16.10 per share on the OTC exchange. This represents a daily gain of +2.27% ($0.36) from the previous closing price of $15.74. Over the past 52 weeks, CBGL has traded between a low of $13.57 and a high of $26.19, placing the current price at approximately -39% from its annual high. The stock has a market capitalization of $672.0M, making it a notable cannabis companies tracked by Cannabismarketcap. Cannabis Global Inc operates in the MSO sector, serving the broader cannabis industry.
What is Cannabis Global Inc's market capitalization?
Cannabis Global Inc (CBGL) has a current market capitalization of $672.0M, calculated by multiplying its 41.7M shares outstanding by the current stock price of $16.10. Market capitalization is a key measure of a company's total equity value as perceived by the public market, and it places Cannabis Global Inc among the mid-cap cannabis companies tracked on Cannabismarketcap. For context, the enterprise value (market cap plus debt minus cash) stands at $302.6M, which accounts for the company's balance sheet structure. Investors often use market cap alongside revenue and profitability metrics to assess relative valuation within the cannabis sector.
Is Cannabis Global Inc profitable?
Cannabis Global Inc (CBGL) currently reports a gross margin of 24.2%, which means the company retains 24.2 cents of every revenue dollar after direct costs of goods sold. On trailing twelve month revenue of $1.36B, this translates to an estimated gross profit of approximately $329.9M. Profitability is a critical factor in the cannabis industry, where many companies are still investing heavily in growth and regulatory compliance. Investors should review the full income statement, cash flow trends, and operating expense breakdown on Cannabismarketcap for a complete picture of Cannabis Global Inc's financial health.
What is Cannabis Global Inc's annual revenue?
Cannabis Global Inc (CBGL) reports trailing twelve month (TTM) revenue of $1.36B, reflecting the total sales generated by the company over the most recent four quarters. Revenue has changed -8.70% year-over-year, reflecting a contraction in top-line performance relative to the prior period. The current price-to-sales ratio is 3.73x, which means investors are paying $3.73 for every $1 of annual revenue — a moderate valuation in the context of the cannabis sector. Revenue is one of the most closely watched metrics for cannabis companies, as many are still scaling operations in a rapidly evolving regulatory environment. View the full income statement and quarterly revenue breakdown on Cannabismarketcap for detailed trend analysis.
What are Cannabis Global Inc's key financial metrics?
Cannabis Global Inc (CBGL) reports several important financial metrics that investors track closely. The company has a market capitalization of $672.0M, trailing twelve month revenue of $1.36B, and a gross margin of 24.2%. On the balance sheet, Cannabis Global Inc holds $467.9M in cash and equivalents against $98.5M in total debt, resulting in a debt-to-market-cap ratio of 0.15x. The price-to-sales ratio stands at 3.73x, while the enterprise value to revenue multiple is 1.61x. With 41.7M shares outstanding and a dilution rate of 0.5%, investors should consider both the fundamental financial performance and share structure when evaluating CBGL.
How many employees does Cannabis Global Inc have?
Cannabis Global Inc currently employs approximately 935 people across its operations. As a MSO cannabis company headquartered in the United States, its workforce supports activities spanning related business functions. Based on trailing twelve month revenue of $1.36B, this equates to approximately $1.5M in revenue per employee, which is a useful efficiency metric for comparing operational productivity across cannabis companies. Employee count is an important indicator of a company's operational scale and its capacity for growth in an industry that remains highly labor-intensive due to regulatory requirements.
What exchange is CBGL listed on?
Cannabis Global Inc trades under the ticker symbol CBGL on the OTC exchange, and the stock is denominated in US dollars (USD). Shares can typically be purchased through most standard brokerage accounts, though some brokers may charge additional fees for OTC-listed securities. The stock sees average daily trading volume of approximately 16.0M shares, which is an important consideration for liquidity and the ability to enter or exit positions without significant price impact.
What sector is Cannabis Global Inc in?
Cannabis Global Inc is classified as a MSO company within the cannabis industry, meaning it operates as a multi-state operator with cannabis cultivation, processing, and retail operations across multiple US states. The MSO sector is a key segment of the cannabis market, and investors often compare companies within the same sector to identify relative outperformers. You can compare CBGL with other MSO stocks on Cannabismarketcap's sector page to see how it ranks on metrics like market cap, revenue, and margins.
What is Cannabis Global Inc's gross margin?
Cannabis Global Inc (CBGL) has a gross margin of 24.2%, which represents the percentage of revenue the company retains after paying for the direct cost of goods sold. On trailing twelve month revenue of $1.36B, this translates to an estimated gross profit of approximately $329.9M. Gross margin is a critical profitability indicator in the cannabis industry, where companies face unique cost pressures from regulatory compliance, testing requirements, and the tax burden of IRC Section 280E (which prevents cannabis companies from deducting standard business expenses). A thin gross margin like Cannabis Global Inc's suggests the company has pricing power and operational efficiency relative to peers.
How does CBGL compare to other cannabis stocks?
You can compare Cannabis Global Inc (CBGL) side-by-side with any cannabis stock on Cannabismarketcap using the dedicated comparison tool. Key comparison metrics include market cap ($672.0M), trailing twelve month revenue ($1.36B), gross margin (24.2%), and price-to-sales ratio (3.73x). Cannabis Global Inc sits in the MSO sector, so the most relevant peer comparisons would be against other MSO companies, though cross-sector comparisons can also reveal interesting insights about relative valuation. Visit the rankings page to see where CBGL stands across all cannabis companies on metrics like revenue growth (-8.70% YoY), cash position ($467.9M), and employee count (935).
What is CBGL's 52-week trading range?
Cannabis Global Inc (CBGL) has traded between a 52-week low of $13.57 and a 52-week high of $26.19, with the current price of $16.10 sitting approximately -39% from the annual high. This range represents a spread of $12.62 (93% from low to high), which reflects the volatility the stock has experienced over the past year. The 52-week range is a commonly used technical indicator that helps investors understand whether a stock is trading near the top or bottom of its recent range, and it can inform decisions about entry and exit points. Cannabis stocks in general tend to exhibit higher volatility than broader market indices due to evolving regulations and market sentiment.
How does Cannabis Global Inc's valuation compare to cannabis industry peers?
Cannabis Global Inc (CBGL) is valued at a market capitalization of $672.0M with a price-to-sales ratio of 3.73x, and an enterprise value of $302.6M. The EV/Revenue multiple of 1.61x provides a debt-adjusted view of valuation relative to sales, which is particularly important for comparing companies with different capital structures. In the cannabis industry, valuations can vary significantly depending on sector (MSO, LP, Ancillary, etc.), growth rate, and path to profitability. Cannabis Global Inc's current revenue trajectory of -8.70% YoY may result in a lower valuation relative to faster-growing peers. Investors can use the Cannabismarketcap rankings and comparison tools to benchmark CBGL against specific competitors on valuation multiples, growth rates, and profitability.
What is Cannabis Global Inc's enterprise value?
Cannabis Global Inc (CBGL) has an estimated enterprise value (EV) of $302.6M, which is calculated by taking the market capitalization of $672.0M, adding total debt of $98.5M, and subtracting cash and equivalents of $467.9M. Enterprise value is widely considered a more comprehensive measure of a company's total value than market cap alone because it accounts for the capital structure, including debt obligations and available liquidity. The resulting EV/Revenue ratio of 1.61x allows for an apples-to-apples comparison with peers regardless of differences in leverage. For cannabis companies in particular, where balance sheet health varies dramatically, enterprise value provides a more accurate picture of acquisition cost and relative valuation.
Is Cannabis Global Inc stock overvalued or undervalued?
Determining whether Cannabis Global Inc (CBGL) is overvalued or undervalued requires analyzing multiple valuation metrics in context. The current price-to-sales ratio of 3.73x is moderate for the cannabis sector, suggesting the market is pricing in some growth expectations. The stock is currently trading at $16.10, which is -39% from its 52-week high of $26.19, with a gross margin of 24.2% and revenue growth of -8.70% YoY. Investors should consider the company's enterprise value of $302.6M, its cash position of $467.9M, and the broader cannabis industry outlook when forming a valuation opinion. Cannabismarketcap provides all the data needed for a thorough analysis, but this information should not be considered investment advice.
What are the risks of investing in Cannabis Global Inc?
Investing in Cannabis Global Inc (CBGL) carries several risks that investors should carefully consider. First, the cannabis industry remains federally illegal in the United States, creating regulatory uncertainty that can impact stock prices, banking access, and tax obligations (notably IRC Section 280E). Second, Cannabis Global Inc's balance sheet shows $98.5M in total debt against $467.9M in cash, with an estimated cash runway of approximately 32 months at the current burn rate, which investors should monitor for dilution risk or liquidity concerns. The company has a share dilution rate of 0.5%, meaning the number of shares outstanding has been increasing, which can erode per-share value. Additionally, the stock has shown a 52-week range of $13.57 to $26.19, reflecting meaningful price volatility. As with all cannabis stocks, investors face risks from changing state regulations, competitive pressures, and the evolving legal landscape. This information is for educational purposes only and is not investment advice.
What is Cannabis Global Inc's cash position and debt level?
Cannabis Global Inc (CBGL) holds $467.9M in cash and equivalents on its balance sheet, set against $98.5M in total debt. This gives the company a net cash position of $369.4M. At the current rate of cash usage, the company has an estimated cash runway of approximately 32 months before needing additional financing, which could come from operations, debt, or equity issuance. Balance sheet strength is especially important in the cannabis industry, where companies often face limited access to traditional banking and capital markets. Investors should track these metrics over time on Cannabismarketcap to identify trends in cash consumption and debt management.
How many shares outstanding does Cannabis Global Inc have?
Cannabis Global Inc (CBGL) currently has 41.7M shares outstanding, which when multiplied by the current stock price of $16.10 gives the company its market capitalization of $672.0M. The share count has been growing at a rate of 0.5% — a metric known as the dilution rate — which is modest and within a typical range for the cannabis sector. Share count is important because all per-share metrics (earnings per share, book value per share, etc.) are directly impacted by changes in shares outstanding. Cannabis companies frequently issue new shares to raise capital, so monitoring dilution trends on Cannabismarketcap is recommended for long-term investors.
Does Cannabis Global Inc pay a dividend?
Most cannabis companies, including Cannabis Global Inc (CBGL), do not currently pay dividends. The cannabis industry is still in a growth phase, and companies typically reinvest available capital into expanding operations, securing new licenses, building out retail and cultivation infrastructure, and navigating complex regulatory requirements. Additionally, the IRC Section 280E tax burden significantly reduces the free cash flow available for shareholder distributions. Investors in cannabis stocks should generally expect returns to come from capital appreciation rather than dividend income. If Cannabis Global Inc initiates a dividend in the future, it would be reported in their SEC filings and reflected on Cannabismarketcap.
How can I research Cannabis Global Inc stock before investing?
To research Cannabis Global Inc (CBGL) before investing, start with the company overview on Cannabismarketcap, which provides current price ($16.10), market cap ($672.0M), and key financial metrics. Next, review the full financial statements page for quarterly revenue trends, margins, and balance sheet details. Check the analyst ratings page for Wall Street consensus and price targets, and the technical analysis page for chart patterns and momentum indicators. Compare CBGL against sector peers using the comparison tool to understand relative valuation. Review recent news coverage for regulatory developments or corporate events. Finally, read the investment analysis page for a comprehensive deep-dive. Cannabis investing carries unique risks including federal illegality, regulatory uncertainty, and limited banking access — always conduct thorough due diligence before making any investment decision.
What does Cannabis Global Inc's market cap of $672.0M mean?
Cannabis Global Inc's market capitalization of $672.0M represents the total market value of all its outstanding shares (41.7M shares multiplied by the current stock price of $16.10). Market cap is the primary measure investors use to classify companies by size: mid-cap companies ($100M–$1B) like Cannabis Global Inc offer a balance between growth potential and stability. In the cannabis sector, market cap is especially important because it determines index weighting, institutional investment eligibility, and often correlates with the company's operational scale and geographic reach. Cannabis Global Inc currently ranks # among cannabis stocks tracked on Cannabismarketcap.
What regulatory risks does Cannabis Global Inc face?
Cannabis Global Inc (CBGL), like all cannabis companies, faces significant regulatory risks that investors should understand. At the federal level, cannabis remains a Schedule I controlled substance in the United States, which restricts banking access, prevents standard business expense deductions under IRC Section 280E, and creates legal uncertainty. As a multi-state operator, Cannabis Global Inc must comply with different regulatory frameworks in each state where it operates, and any changes to state licensing rules, tax rates, or market structure can directly impact revenue and profitability. Potential catalysts include federal rescheduling (which could ease 280E burdens), the SAFE Banking Act (which would improve banking access), and individual state legalization events. Conversely, regulatory setbacks such as license moratoriums, increased enforcement, or unfavorable tax policy changes pose downside risks. Investors should monitor legislative developments closely using Cannabismarketcap's news and legalization tracker.
More CBGL Research & Data
CBGL price, chart & key stats
Revenue, earnings & balance sheet
Quarterly earnings & EPS trends
Historical price & volume chart
Step-by-step buying guide
Side-by-side peer comparison
Detailed investment thesis & outlook
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