Glass House Brands Inc. (GLAS) vs Organigram Global Inc. (OGI)

Glass House Brands Inc. and Organigram Global Inc. are both Drug Manufacturers Specialty & Generic companies. Glass House Brands Inc. is the larger, with a market value of $172.7M against $131.1M — 1.3× the size. Glass House Brands Inc. has negative trailing earnings, so its P/E is not meaningful; Organigram Global Inc. trades at 2.0×. Organigram Global Inc. grew revenue faster over the last twelve months: 39.5% against −15.4%. Organigram Global Inc. has the higher net margin (28.4% vs −36.2%) and the higher return on invested capital (−1.53% vs −23.4%). Across the 17 metrics below, Organigram Global Inc. leads on 16 and Glass House Brands Inc. on 1.

Valuation

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
P/E n/m 2.02 20.55
P/S 1.14 0.57 2.08
P/B 2.79 0.36 1.79
Price to free cash flow n/m n/m 16.29
EV/EBITDA n/m 14.45 12.22
EV/Sales 1.35 0.60 2.87
Earnings yield (33.33%) 49.46% (15.94%)
Free cash flow yield (18.18%) (16.64%) 0.00%

Profitability

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
Gross margin 31.97% 36.47% 53.51%
Operating margin (23.18%) (3.91%) 0.00%
Net margin (36.19%) 28.44% (2.45%)
Free cash flow margin (20.78%) (9.46%) 0.00%
Return on equity (74.02%) 20.20% (0.80%)
Return on assets (19.78%) 12.70% (1.67%)
Return on invested capital (23.36%) (1.53%) 0.00%

Growth

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) (15.38%) 39.51% 5.22%
EPS growth (last fiscal year) (161.90%) 60.00% 42.91%
Revenue growth, 5-year CAGR — 24.30% 7.24%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
Debt to equity 0.77 0.04 0.04
Current ratio 1.33 2.61 2.41
Net debt to EBITDA (64.84) (31.56) 1.01

Dividend

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.45%
Payout ratio — — 0.27

Size

Metric GLAS OGI Drug Manufacturers Specialty & Generic median
Market cap 172.67m 131.11m 315.39m

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