# Glass House Brands Inc. Subordinate Voting Shares (GLAS) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Healthcare / Biotechnology. Price $8.88, market value $837 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Glass House Brands Inc. Subordinate Voting Shares reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 5.1×**. Each dollar of revenue is priced at 5.1×.
- **Price / book: 10.9×**. The shares trade at 10.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -4.4%** (5-yr avg -26.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 30.8%**. Glass House Brands Inc. Subordinate Voting Shares keeps 30.8% of revenue after the direct cost of what it sells.
- **Operating margin: -25.1%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -16.3%**. The company reported a net loss over the last twelve months.
- **Return on equity: -40.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -29.0%**. Return on all capital, debt included, is -29.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -16.4%**. Each dollar of assets produces -16.4% of profit.

## Growth
- **Revenue growth (1 yr): -9.4%** (3-yr 28.9%/yr, 5-yr 30.4%/yr). Revenue fell 9.4% over the last year, against 30.4% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -161.9%**. Earnings per share fell 161.9%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.93**. Debt is 0.93 times equity, moderate leverage.
- **Interest coverage: -8.7×**. Operating profit covers interest only -8.7×: fragile.
- **Current ratio: 1.78** (quick 1.78). Current assets cover the next year's liabilities 1.78 times.
- **Altman Z-score: 4.33**. A Z-score of 4.33 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Glass House Brands Inc. Subordinate Voting Shares does not currently pay a dividend, but it returned -5.7% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 22.3%** (YTD 0.3%, 3-mo -27.8%). The shares are up 22.3% over twelve months including dividends.
- **From 52-week high: -36.3%** (72.4% above the low). Trading 36% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.73** (volatility 95%). Beta of 0.73 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=GLAS · Page: https://foliofundamentals.com/stocks/glas

Not investment advice.