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High Tide Inc
XTSX:HITI

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High Tide Inc Logo
High Tide Inc
XTSX:HITI
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Price: 2.7 CAD -3.57% Market Closed
Updated: Mar 29, 2024

Intrinsic Value

High Tide, Inc. engages in the manufacture and retail of cannabis smoking accessories and lifestyle products. [ Read More ]

The intrinsic value of one HITI stock under the Base Case scenario is 8.3 CAD. Compared to the current market price of 2.7 CAD, High Tide Inc is Undervalued by 67%.

Key Points:
HITI Intrinsic Value
Base Case
8.3 CAD
Undervaluation 67%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

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High Tide Inc

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Fundamental Analysis

Robust EBITDA Growth amid Low Revenue Increase
2024-Q1 Earnings Call

Robust EBITDA Growth amid Low Revenue Increase

In Q1 2024, the company achieved a 25% sequential increase in adjusted EBITDA, outpacing a modest 1% rise in revenue, and a 90% year-over-year uplift. They maintained consistent same-store sales despite a national 6% sales decline, highlighting the strength of their discount club model and strict cost management. The acquisition of the popular Queen of Bud brand aligns with a strategy to improve margins and extend their 165-store portfolio, with plans for up to 30 new stores in Ontario alone. The ELITE membership program is expanding, raising prices from $30 to $35 and aiming to increase inventory contribution from 12% to 20%-30%. They continue to focus on efficient inventory management, boasting one of the lowest cannabis inventory turns in the industry.

Financials

Balance Sheet Decomposition
High Tide Inc

Current Assets 65.3m
Cash & Short-Term Investments 28.7m
Receivables 4.5m
Other Current Assets 32.1m
Non-Current Assets 162m
PP&E 60.5m
Intangibles 99.4m
Other Non-Current Assets 2.1m
Current Liabilities 57.8m
Accounts Payable 6.2m
Accrued Liabilities 8.5m
Short-Term Debt 15.4m
Other Current Liabilities 27.8m
Non-Current Liabilities 31.9m
Long-Term Debt 28.7m
Other Non-Current Liabilities 3.2m
Efficiency

Earnings Waterfall
High Tide Inc

Revenue
615.7m CAD
Cost of Revenue
-448.4m CAD
Gross Profit
167.3m CAD
Operating Expenses
-166m CAD
Operating Income
1.3m CAD
Other Expenses
-40.9m CAD
Net Income
-39.7m CAD

Free Cash Flow Analysis
High Tide Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
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Fundamental Scores

HITI Profitability Score
Profitability Due Diligence

High Tide Inc's profitability score is 41/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Years Revenue Growth
ROE is Increasing
Positive Gross Profit
Positive Revenue Growth Forecast
41/100
Profitability
Score

High Tide Inc's profitability score is 41/100. The higher the profitability score, the more profitable the company is.

HITI Solvency Score
Solvency Due Diligence

High Tide Inc's solvency score is 49/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Average Altman Z-Score
Positive Net Debt
49/100
Solvency
Score

High Tide Inc's solvency score is 49/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

HITI Price Targets Summary
High Tide Inc

Wall Street analysts forecast HITI stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for HITI is 6.06 CAD with a low forecast of 4.29 CAD and a high forecast of 8.93 CAD.

Lowest
Price Target
4.29 CAD
59% Upside
Average
Price Target
6.06 CAD
124% Upside
Highest
Price Target
8.93 CAD
231% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

HITI Price
High Tide Inc

1M 1M
+14%
6M 6M
+8%
1Y 1Y
+71%
3Y 3Y
-78%
5Y 5Y
-64%
10Y 10Y
-49%
Annual Price Range
2.7
52w Low
1.53
52w High
2.8
Price Metrics
Average Annual Return -7.38%
Standard Deviation of Annual Returns 66.08%
Max Drawdown -90%
Shares Statistics
Market Capitalization 212.1m CAD
Shares Outstanding 75 086 823
Percentage of Shares Shorted 0.8%

HITI Return Decomposition
Main factors of price return

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HITI News

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Last Important Events
High Tide Inc

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Sentiment Analysis
High Tide Inc

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Company Profile

High Tide Inc Logo
High Tide Inc

Country

Canada

Industry

Pharmaceuticals

Market Cap

212.1m CAD

Dividend Yield

0%

Description

High Tide, Inc. engages in the manufacture and retail of cannabis smoking accessories and lifestyle products. The company is headquartered in Calgary, Alberta. The company went IPO on 2018-12-17. The firm operates as a retailer of recreational cannabis with approximately 110 locations across Ontario, Alberta, Manitoba and Saskatchewan. The firm is also a cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide serves consumers through its established e-commerce platforms, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com, and in the hemp-derived Cannabidiol (CBD) space through Nuleafnaturals.com, FABCBD.com, and BlessedCBD.co.uk, as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. The firm's brands also include Bud Room, a retail cannabis store located in Ottawa, Ontario.

Contact

ALBERTA
Calgary
#112, 11127 15Th Street Ne
+18557476420.0
https://hightideinc.com/

IPO

2018-12-17

Employees

-

Officers

Founder, CEO, President & Executive Chairman
Mr. Harkirat Grover
Chief Financial Officer
Mr. Sergio Patino C.M.A., CPA
Chief Operating Officer
Mr. Aman Sood
Chief Communications & Public Affairs Officer
Mr. Omar Yar Khan
Chief Marketing Officer
Mr. Andreas-Alexander Palalas
VP & Legal Counsel
Ms. Joy Lisa Avzar
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Vice President of Human Resources
Ms. Sandy Sharma
Secretary & Treasurer
Mr. Shimshon Posen J.D.
Director of Corporate Governance
Krystal Dafoe
Show Less

See Also

Discover More
What is the Intrinsic Value of one HITI stock?

The intrinsic value of one HITI stock under the Base Case scenario is 8.3 CAD.

Is HITI stock undervalued or overvalued?

Compared to the current market price of 2.7 CAD, High Tide Inc is Undervalued by 67%.