Canada's cannabis industry has grown since the national government legalized cannabis in 2018. The cannabis industry includes companies that cultivate, grow, and sell cannabis and related products for both recreational and medical use.
Below are the 7 largest Canadian cannabis companies, ranked by trailing 12-month (TTM) revenue, limited to companies listed in the US or Canada. All data provided by YCharts and accurate as of July 31, 2024.
Important points
Canada legalized marijuana in 2018, leading to a boom in the country's cannabis industry. Tilray Brands is the nation's largest cannabis company by annual revenue. Other top-earning companies include Sundial Growers, High Tide, Terra Ascend, Aurora Cannabis, Village Farms, and Canopy Growth International.
1. Tilray Brands, Inc. (TLRY)
Revenue (TTM): $788.94 million Net income (TTM): -$244.98 million Market cap: $1.67 billion 1 year trailing total return: -19.76% Exchange: Nasdaq
Tilray (TLRY) is a Canadian company primarily focused on the cultivation, processing, and distribution of medical cannabis products with operations in Canada and the United States, as well as Europe, Australia, and Latin America. The company focuses on medical cannabis research. The company's products include dried cannabis and cannabis extracts. In May 2021, Tilray completed its merger with Aphria.
2. Sundial Growers (SNDL)
Revenue (TTM): $579.02 million Net income (TTM): -$103.11 million Market cap: $598.76 million 1 year trailing total return: 35.93% Exchange: NASDAQ
Sundial Growers (SNDL), based in Calgary, Alberta, Canada, develops and markets alcoholic beverages and cannabis products through its banner businesses. The company prides itself on being the largest private liquor and cannabis company. Cannabis banners include Spiritleaf and Value Buds, and its brands include Top Leaf, Spiritleaf Selects and Grasslands.
3. High Tide (HITI)
Revenue (TTM): $503.78 million Net income (TTM): -$34.35 million Market cap: $140.94 million 1 year trailing total return: -23.07% Exchange: Nasdaq
Raj Grover founded High Tide (HITI) in 2009. The company has grown to become a leader in the Canadian cannabis retail industry, with a dominant presence in the North American and European e-commerce space for hemp-derived CBD and consumable accessories. High Tide's subsidiaries include Valiant Distribution, Canna Cabana, and Famous Brandz.
4. Terra Ascend Inc. (TSNDF)
Revenue (TTM): $328.56 million Net income (TTM): -$83.2 million Market cap: $402.28 million 1 year trailing total return: -1.41% Exchange rate: OTC market
TerrAscend (TSNDF) is a Canadian integrated cannabis company offering medical and recreational products. The company's business portfolio includes Apothekarium, a cannabis dispensary; Irela Healthcare, which grows, processes and sells medical cannabis; and Gage Cannabis Company, which grows, sells and sells premium cannabis brands, and is based in Pennsylvania, New Jersey. I am putting , Michigan, and California, with cultivation and processing plants in Maryland and Canada.
5. Canopy Growth Corporation (CGC)
Revenue (TTM): $244.32 million Net income (TTM): -$487.06 million Market capitalization: $515.86 million 1 year trailing total return: 54.16% Exchange: Toronto Stock Exchange (TSX) and Nasdaq
Canopy Growth (CGC) is headquartered in Canada and manufactures medical cannabis products. The company is North America's first federally regulated and licensed publicly traded cannabis producer. It is one of the world's largest cannabis companies by market capitalization. The company also consolidated its U.S. assets into a separately operated holding company, Canopy USA.
6. Village Farms International (VFF)
Revenue (TTM): $229.02 million Net income (TTM): -$28.01 million Market cap: $113.52 million 1 year trailing total return: -8.53% Exchange: Nasdaq
Village Farms (VFF) is a large, vertically integrated supplier of plant-based consumer goods, supplying fresh produce to grocery stores and big box retailers throughout the United States and Canada. The company is focused on emerging high-growth opportunities in the North American cannabis and CBD space. Village Farms is also targeting long-term potential cannabis opportunities in Asia Pacific and Europe.
7. Aurora Cannabis Company (ACB)
Revenue (TTM): $200.39 million Net income (TTM): -$53.55 million Market cap: $330.02 million 1 year trailing total return: 9.12% Exchange: Toronto Stock Exchange (TSX) and Nasdaq
Aurora Cannabis (ACB) is a leading cannabis producer and licensed distributor. The Edmonton, Alberta, Canada-based company supports the medical and consumer cannabis sectors and has a division focused on cannabidiol products distributed in the United States. CBD is one of the most active and widespread components of cannabis. We have expanded our footprint by signing production facilities and distribution agreements in the European Union (EU).
$459 billion
How much cannabis consumers spent worldwide in 2022. This number is expected to increase to $508 billion by 2025.
Is marijuana legal in the US?
States where marijuana is legal as of 2024 are Alaska, Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New Mexico, New York, Ohio, Oregon, Rhode Island, Vermont, Virginia, and Washington. It's also legal in Washington DC
What are the medical uses of marijuana?
Medical cannabis is used to treat conditions such as Alzheimer's disease, Crohn's disease, epilepsy, glaucoma, and chronic pain.
Do Americans approve of legalizing marijuana?
According to the Pew Research Center, 88% of U.S. adults in 2024 agree that marijuana should be legalized for medical or recreational purposes.
conclusion
In 2018, Canada legalized marijuana. Since then, the industry has grown with companies specializing in growing, cultivating, and distributing cannabis for a variety of uses. As of 2024, Tilray Brands is Canada's largest cannabis company based on annual revenue.
