Tilray Brands Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Tilray Brands Inc (TLRY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Tilray Brands Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 962M vs -M combined for tracked competitors (100.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months).
- Scale: Tilray Brands Inc ranks #4 of 36 companies by market capitalization in the Legal Cannabis industry, holding 2.9% of industry market cap.
- Peer revenue share: Tilray Brands Inc accounted for 100.0% of combined revenue among its tracked peer group, up from 100.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.27M compares with $0.48M for the peer group (0.6x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TLRY Sales vs. its Competitors, Q1 2026
Tilray Brands Inc generated 100.00 % of the combined sales of its peer group, up from 100.00 % a year earlier.
For context: the Legal Cannabis industry grew revenue 21.4% year over year, combined, vs 22.8% for Tilray Brands Inc. Tilray Brands Inc's share of combined industry revenue moved from 8.11% to 8.20%, a gain of 0.09 percentage points.
Tilray Brands Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Tilray Brands Inc | No | Yes | Yes | No |
| Competitors combined (21) | ||||
| High-Confidence Competitors (5) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 12.50 % (1 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 42.90 % (3 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TLRY Stock Performance relative to its Competitors
TLRY Stock Performance relative to High-Confidence Competitors
TLRY Stock Performance relative to Similar-Size Competitors
TLRY Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Lexaria Bioscience Corp | 282.9% | Outperformed |
| 2 | Intercure Ltd | 282.9% | Outperformed |
| 3 | Dogecoin Cash Inc | 282.9% | Outperformed |
| 4 | High Tide inc | 282.9% | Outperformed |
| 5 | Igc Pharma Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Tilray Brands Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Tilray Brands Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Tilray Brands Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Tilray Brands Inc | 405.36 | 962.31 |
| High Tide inc | 211.20 | 424.27 |
| Zerostack Corp | 39.84 | 40.03 |
| Incannex Healthcare Inc | 32.88 | - |
| Igc Pharma Inc | 25.08 | 1.10 |
| Earth Science Tech Inc | 24.65 | 34.65 |
| SUBTOTAL | 760.93 | 1,993.04 |
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Sources: Tilray Brands Inc's official press releases and company reports; CSIMarket.com's market research; and the company reports and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Tilray Brands Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Tilray Brands Inc's Competitors Named by the Company
Competitive relationships identified from Tilray Brands Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| BrewDog | Company report | 85% |
| Tilray Medical | Company report | 85% |
| WEED, INC. | Company report | 85% |
| Jones Soda Co | Company report | 85% |
| HEXO | Company report | 85% |
| Manitoba Harvest | Company report | 85% |
| Fresh Hemp Foods Ltd. | Company report | 85% |
| Aphria | Company report | 85% |
| SweetWater | Company report | 85% |
| Constellation Brands Inc | Company report | 85% |
| Dogecoin Cash Inc | Company report | 85% |
| Canadian Cannabis Corp. | Company report | 85% |
| Greenlane Holdings Inc | Company report | 85% |
| Clever Leaves Holdings Inc | Company report | 85% |
| High Tide inc | Company report | 85% |
| Organigram Global Inc | Company report | 85% |
| Cv Sciences Inc | Company report | 85% |
| Arax Holdings Corp | Company report | 85% |
| Medicine Man Technologies inc | Company report | 85% |
| Neptune Wellness Solutions Inc | Company report | 85% |
| Axim Biotechnologies Inc | Company report | 85% |
| Gb Sciences Inc | Company report | 85% |
| General Cannabis Corp | Company report | 85% |
| Can B Corp | Company report | 85% |
Company report basis, confidence, active dates and source counts for Tilray Brands Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from Tilray Brands Inc reports (named-competitor disclosures) and corroborating sources. Confidence reflects evidence strength.
Tilray Brands Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Tilray Brands Inc | Beverage Alcohol Business 39.47 % |
| Greenlane Holdings Inc | Wholesale or Distribution 100.00 % |
| Cannapharmarx Inc | Operating Segment 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Tilray Brands Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Tilray Brands Inc | 405 | 267,681 | -41,672 |
| High Tide inc | 211 | 707,110 | -61,193 |
| Zerostack Corp | 40 | - | - |
| Incannex Healthcare Inc | 33 | - | -1,483,500 |
| Igc Pharma Inc | 25 | 73,400 | -583,867 |
| Earth Science Tech Inc | 25 | - | - |
| PEERS TOTAL | 356 | 483,005 | -152,578 |
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Tilray Brands Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Tilray Brands Inc | EMEA 56.59 % |
| Zerostack Corp | DE 92.55 % |
| Greenlane Holdings Inc | US 100.00 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Tilray Brands Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 23 companies in Tilray Brands Inc's industry classification, broader than the peer set above. Market cap in millions of $.Tilray Brands Inc ranks #4 of 23 companies by market capitalization in its industry, holding 2.94 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,768, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Regencell Bioscience Holdings Limited | 4,742 | 40.98 % |
| 2 | Definium Therapeutics Inc | 3,553 | 30.70 % |
| 3 | Cronos Group Inc | 1,204 | 10.40 % |
| 4 | Tilray Brands Inc | 340 | 2.94 % |
| 5 | Sndl Inc | 1,234 | 5.2% |
| 6 | Canopy Growth Corporation | 1,234 | 5.2% |
| 7 | Usana Health Sciences Inc | 1,234 | 5.2% |
| 8 | Aurora Cannabis Inc | 1,234 | 5.2% |
| 9 | Niagen Bioscience Inc | 1,234 | 5.2% |
| 10 | Mediwound Ltd | 1,234 | 5.2% |
Market cap and industry share for the rest of Tilray Brands Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-16.
Tilray Brands Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Regencell Bioscience Holdings Limited | 4,742 | -50.32 % |
| 2 | Definium Therapeutics Inc | 3,553 | 164.14 % |
| 3 | Cronos Group Inc | 1,204 | 28.49 % |
| 4 | Tilray Brands Inc | 340 | -80.86 % |
| 5 | Sndl Inc | 1,234 | 12.3% |
| 6 | Canopy Growth Corporation | 1,234 | 12.3% |
| 7 | Usana Health Sciences Inc | 1,234 | 12.3% |
| 8 | Aurora Cannabis Inc | 1,234 | 12.3% |
| 9 | Niagen Bioscience Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Tilray Brands Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-10-16. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Tilray Brands Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Legal Cannabis industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (43 companies). See the full Legal Cannabis industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 29.15 % | 37.83 % (avg) | -8.7 pp |
| Operating Margin | -9.27 % | industry median | - |
| EBITDA Margin | 13.10 % | -2.24 % (avg) | +15.3 pp |
| Capital Intensity (Capex / Revenue) | - | 5.11 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Tilray Brands Inc's Valuation vs Competitive Position
Valuation multiples vs the Legal Cannabis industry average (43 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Legal Cannabis industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 18.6x | - |
| EV / EBITDA | 5.6x | 8.5x | -2.9x |
| P/B | 0.4x | 3.8x | -3.4x |
| Return on Equity | -9.50 % | industry aggregate | 0.00 % |
| Return on Invested Capital | -2.49 % | 3.78 % (avg) | -6.27 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Tilray Brands Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | - | 113.91 % | 264.17 % | -21.39 % | 16.07 % | 18.49 % | 1.08 % |
| Operating Margin | -306.62 % | -95.55 % | -19.15 % | -92.96 % | - | -21.41 % | - |
| Return on Invested Capital | -24.57 % | -20.97 % | -1.75 % | -5.66 % | -18.11 % | -2.34 % | -55.15 % |
| P/E | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Tilray Brands Inc's Strategic Group Map
Every company in Tilray Brands Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Tilray Brands Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Tilray Brands Inc's BCG Growth-Share Matrix
Relative market share (vs Tilray Brands Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Tilray Brands Inc falls in the Dog quadrant: relative market share of 0.07x vs its largest competitor, in an industry growing revenue 0.8% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Regencell Bioscience Holdings Limited alone holds 41% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Tilray Brands Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 2,768 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Tilray Brands Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Tilray Brands Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Tilray Brands Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Tilray Brands Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Tilray Brands Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.07x).
Opportunities
- A meaningful share of tracked competitors (50.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by Regencell Bioscience Holdings Limited, holding 40.98 % of industry market cap.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Tilray Brands Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Tilray Brands Inc | 0.69 | 2.27 | 0.22 |
| High Tide inc | 0.48 | 1.37 | 0.13 |
| Zerostack Corp | 0.67 | 1.33 | 0.38 |
| Incannex Healthcare Inc | 18.92 | 20.72 | - |
| Igc Pharma Inc | 0.21 | 0.74 | 0.16 |
| Earth Science Tech Inc | 0.36 | 1.35 | 0.01 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Tilray Brands Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Tilray Brands Inc | Q3 2026 | +22.8 % | - |
| High Tide inc | Q3 2025 | +10.5 % | - |
| Zerostack Corp | Q2 2026 | +40.7 % | - |
| Incannex Healthcare Inc | Q2 2026 | - | - |
| Igc Pharma Inc | Q2 2026 | -19.7 % | - |
| Earth Science Tech Inc | Q2 2026 | +11.6 % | +51.2 % |
| PEERS TOTAL | +45.9 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Tilray Brands Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Tilray Brands Inc | Q3 2026 | +18.2 % | - |
| High Tide inc | Q3 2025 | +12.5 % | +19.3 % |
| Zerostack Corp | Q2 2026 | +32.5 % | - |
| Incannex Healthcare Inc | Q2 2026 | - | - |
| Igc Pharma Inc | Q2 2026 | +23.3 % | +108.2 % |
| Earth Science Tech Inc | Q2 2026 | +37.5 % | -89.9 % |
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Tilray Brands Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Tilray Brands Inc | - | - | - |
| High Tide inc | - | - | - |
| Zerostack Corp | - | - | - |
| Incannex Healthcare Inc | - | - | - |
| Igc Pharma Inc | - | - | - |
| Earth Science Tech Inc | 44.02% | 64.38% | 66.17% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Tilray Brands Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Tilray Brands Inc | - | 0.42 |
| High Tide inc | - | 0.50 |
| Zerostack Corp | - | 1.00 |
| Incannex Healthcare Inc | - | - |
| Igc Pharma Inc | - | 22.78 |
| Earth Science Tech Inc | 17.00 | 0.71 |
| PEERS AVERAGE | - | 0.38 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.