Trulieve Cannabis Corp. Subordinate Voting Shares (TRLV) 12-Month Stock Forecast & Price Target Cone

Per the Roarable RQD rating, TRLV scores 58 out of 100, a letter grade of D+, with a verdict label of "Roarable Sell — Weak Fundamentals / Trim." The five pillars are:

• Fundamental Cash Engine: 13 / 20. The pillar is cited with ROIC of 12.8% and FCF yield of 11.2%. Per the market data, these are the company's stronger reported return metrics, and they are the main support for this pillar.
• Whale 13F Flow: 10 / 20. The pillar description references institutional accumulation and options positioning. The holder data section is empty, so the underlying 13F and options detail cannot be verified from the source data.
• Insider Conviction: 12 / 20. The pillar description references SEC Form 4 and Congressional PTR cluster flow. No insider transaction records are included in the source data, so the basis for this score cannot be verified.
• Macro Regime Fit: 15 / 20. Per the RQD rating, beta is 1.0, and the pillar reflects sector sensitivity. This is the highest pillar score, though it is still below the midpoint of its range.
• Forensic Balance Sheet: 8 / 20. The pillar is cited with Altman Z of 1.12, Piotroski F of 6/9, and Debt/Equity of 0.5. The Altman Z reading is the weakest forensic input provided.

For a prospective investor evaluating the stock today, the combined picture is a mid-range cash-generation profile offset by weak forensic balance-sheet scores and low institutional and insider conviction scores. The verdict label indicates the rating system's view that fundamentals are weak relative to the stock's current standing. This is an analytical reading of the rating's components, not a recommendation to buy or sell.

Trulieve Cannabis Corp. Subordinate Voting Shares (TRLV) is a NYSE-listed issuer classified under the Health Care sector and the Medicinal Chemicals and Botanical Products industry. The source data does not describe its products, customer base, or revenue model beyond this classification. Per the company profile, the market capitalization is $2.0B. Per the SEC financials, reported revenue was $1181.2M for FY 2025.

Per the market data, the gross margin is 60.2%, the operating margin is 12.1%, and the net margin is -9.9%. Per the SEC financials, operating income moved from $-221.6M in FY 2023 to $97.8M in FY 2024 and $143.5M in FY 2025, while net income remained negative in all three periods. Per the Roarable RQD rating, ROIC is 12.8%, and the forensic inputs are an Altman Z-Score of 1.12, a Piotroski F-Score of 6/9, and a Debt/Equity ratio of 0.5. Reported cash was $255.5M for FY 2025 and $238.8M for FY 2024.

• What drove the move in operating income from negative in FY 2023 to positive in FY 2024 and FY 2025, and how much of the net loss in each year reflects non-operating items?
• Why are EPS, debt, and cash for FY 2023 reported as N/A or missing, and what is the company's reported debt level?
• What supports the Whale 13F Flow and Insider Conviction pillar scores, given that no holder or insider transaction data is included?
• What is the basis for the trailing and forward P/E being unavailable, and how should the EV/EBITDA of 9.9 be interpreted without earnings per share?
• What is the company's product and revenue mix within the Medicinal Chemicals and Botanical Products industry?