TLRY
Tilray Brands, Inc.
Drug Manufacturers - Specialty & Generic
Market Cap$660M
5Y Perf.-42.5%
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Stock Comparison
TLRY vs IIPR
Revenue, margins, valuation, and 5-year total return — side by side.
IIPR
Innovative Industrial Properties, Inc.
REIT - Industrial
Market Cap$1.62B
5Y Perf.-30.7%
TLRY vs IIPR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | TLRY | IIPR |
|---|---|---|
| Industry | Drug Manufacturers - Specialty & Generic | REIT - Industrial |
| Market Cap | $660M | $1.62B |
| Revenue (TTM) | $1.17B | $263M |
| Net Income (TTM) | $-2.95B | $120M |
| Gross Margin | 28.0% | 60.3% |
| Operating Margin | -266.0% | 46.7% |
| Forward P/E | — | 13.2x |
| Total Debt | $451M | $394M |
| Cash & Equiv. | $304M | $48M |
TLRY vs IIPR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
TLRY
IIPR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Tilray Brands, Inc. (TLRY) | 100 | 57.5 | -42.5% |
| Innovative Industri… (IIPR) | 100 | 69.3 | -30.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: TLRY vs IIPR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: IIPR leads in 4 of 6 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Tilray Brands, Inc. is the stronger pick specifically for growth and revenue expansion and recent price momentum and sentiment. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
TLRY
Tilray Brands, Inc.
The Growth Play
TLRY is the clearest fit if your priority is growth exposure.
- Rev growth 4.8%, EPS growth -6.5%, 3Y rev CAGR 12.5%
- 4.8% revenue growth vs IIPR's -13.8%
- +12.1% vs IIPR's +20.3%
Best for: growth exposure
IIPR
Innovative Industrial Properties, Inc.
The Real Estate Income Play
IIPR carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 9 yrs, beta 0.92, yield 13.5%
- 436.4% 10Y total return vs TLRY's -74.7%
- Lower volatility, beta 0.92, Low D/E 21.3%, current ratio 0.15x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | TLRY | 4.8% revenue growth vs IIPR's -13.8% |
| Quality / Margins | IIPR | 45.6% margin vs TLRY's -252.6% |
| Stability / Safety | IIPR | Beta 0.92 vs TLRY's 2.03, lower leverage |
| Dividends | IIPR | 13.5% yield; 9-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | TLRY | +12.1% vs IIPR's +20.3% |
| Efficiency (ROA) | IIPR | 5.1% ROA vs TLRY's -100.6%, ROIC 4.3% vs -66.2% |
TLRY vs IIPR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
TLRY vs IIPR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLIIPRLAGGINGTLRY
TLRYTilray Brands, Inc.
1leads
IIPRInnovative Industrial…
3leads
6 Total Categories
CATEGORYLEADERvs TLRYMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
IIPR4/6
Valuation MetricsMultiples, price ratios, and targets
TLRY3/3
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
IIPR7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
IIPR2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
IIPR leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
TLRY is the larger business by revenue, generating $1.2B annually — 4.4x IIPR's $263M. IIPR is the more profitable business, keeping 45.6% of every revenue dollar as net income compared to TLRY's -2.5%. On growth, TLRY holds the edge at +3.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| RevenueTrailing 12 months | $1.2B | $263M |
| EBITDAEarnings before interest/tax | -$3.0B | $197M |
| Net IncomeAfter-tax profit | -$2.9B | $120M |
| Free Cash FlowCash after capex | -$94M | $144M |
| Gross MarginGross profit ÷ Revenue | +28.0% | +60.3% |
| Operating MarginEBIT ÷ Revenue | -2.7% | +46.7% |
| Net MarginNet income ÷ Revenue | -2.5% | +45.6% |
| FCF MarginFCF ÷ Revenue | -8.1% | +54.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +3.0% | -3.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +70.7% | -1.0% |
IIPR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
TLRY leads this category, winning 3 of 3 comparable metrics.
Valuation Metrics
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| Market CapShares × price | $660M | $1.6B |
| Enterprise ValueMkt cap + debt − cash | $806M | $2.0B |
| Trailing P/EPrice ÷ TTM EPS | -0.17x | 14.40x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 13.17x |
| PEG RatioP/E ÷ EPS growth rate | — | 3.85x |
| EV / EBITDAEnterprise value multiple | — | 9.91x |
| Price / SalesMarket cap ÷ Revenue | 0.59x | 6.08x |
| Price / BookPrice ÷ Book value/share | 0.25x | 0.87x |
| Price / FCFMarket cap ÷ FCF | — | 9.26x |
TLRY leads this category, winning 3 of 3 comparable metrics.
Profitability & Efficiency
IIPR leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
IIPR delivers a 6.4% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-137 for TLRY. IIPR carries lower financial leverage with a 0.21x debt-to-equity ratio, signaling a more conservative balance sheet compared to TLRY's 0.22x.
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| ROE (TTM)Return on equity | -136.5% | +6.4% |
| ROA (TTM)Return on assets | -100.6% | +5.1% |
| ROICReturn on invested capital | -66.2% | +4.3% |
| ROCEReturn on capital employed | -78.1% | +5.8% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 4 |
| Debt / EquityFinancial leverage | 0.22x | 0.21x |
| Net DebtTotal debt minus cash | $147M | $346M |
| Cash & Equiv.Liquid assets | $304M | $48M |
| Total DebtShort + long-term debt | $451M | $394M |
| Interest CoverageEBIT ÷ Interest expense | -89.43x | 6.67x |
IIPR leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — TLRY and IIPR each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in IIPR five years ago would be worth $4,999 today (with dividends reinvested), compared to $3,498 for TLRY. Over the past 12 months, TLRY leads with a +1209.3% total return vs IIPR's +20.3%. The 3-year compound annual growth rate (CAGR) favors TLRY at 26.7% vs IIPR's 4.5% — a key indicator of consistent wealth creation.
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| YTD ReturnYear-to-date | -41.8% | +18.3% |
| 1-Year ReturnPast 12 months | +1209.3% | +20.3% |
| 3-Year ReturnCumulative with dividends | +103.6% | +14.1% |
| 5-Year ReturnCumulative with dividends | -65.0% | -50.0% |
| 10-Year ReturnCumulative with dividends | -74.7% | +436.4% |
| CAGR (3Y)Annualised 3-year return | +26.7% | +4.5% |
Evenly matched — TLRY and IIPR each lead in 3 of 6 comparable metrics.
Risk & Volatility
IIPR leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
IIPR is the less volatile stock with a 0.92 beta — it tends to amplify market swings less than TLRY's 2.03 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IIPR currently trades 92.2% from its 52-week high vs TLRY's 36.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.03x | 0.92x |
| 52-Week HighHighest price in past year | $15.70 | $61.40 |
| 52-Week LowLowest price in past year | $0.35 | $44.58 |
| % of 52W HighCurrent price vs 52-week peak | +36.1% | +92.2% |
| RSI (14)Momentum oscillator 0–100 | 37.9 | 59.3 |
| Avg Volume (50D)Average daily shares traded | 4.7M | 303K |
IIPR leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates TLRY as "Hold" and IIPR as "Hold". Consensus price targets imply 76.7% upside for TLRY (target: $10) vs -22.3% for IIPR (target: $44). IIPR is the only dividend payer here at 13.46% yield — a key consideration for income-focused portfolios.
| Metric | TLRYTilray Brands, In… | IIPRInnovative Indust… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $10.00 | $44.00 |
| # AnalystsCovering analysts | 20 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | +13.5% |
| Dividend StreakConsecutive years of raises | — | 9 |
| Dividend / ShareAnnual DPS | — | $7.62 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.2% |
Insufficient data to determine a leader in this category.
Key Takeaway
IIPR leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). TLRY leads in 1 (Valuation Metrics). 1 tied.
Best OverallInnovative Industrial Prope… (IIPR)Leads 3 of 6 categories
Loading custom metrics...
TLRY vs IIPR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is TLRY or IIPR a better buy right now?
For growth investors, Tilray Brands, Inc.
(TLRY) is the stronger pick with 4. 8% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). Innovative Industrial Properties, Inc. (IIPR) offers the better valuation at 14. 4x trailing P/E (13. 2x forward), making it the more compelling value choice. Analysts rate Tilray Brands, Inc. (TLRY) a "Hold" — based on 20 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — TLRY or IIPR?
Over the past 5 years, Innovative Industrial Properties, Inc.
(IIPR) delivered a total return of -50. 0%, compared to -65. 0% for Tilray Brands, Inc. (TLRY). Over 10 years, the gap is even starker: IIPR returned +436. 4% versus TLRY's -74. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — TLRY or IIPR?
By beta (market sensitivity over 5 years), Innovative Industrial Properties, Inc.
(IIPR) is the lower-risk stock at 0. 92β versus Tilray Brands, Inc. 's 2. 03β — meaning TLRY is approximately 121% more volatile than IIPR relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 22% for Tilray Brands, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — TLRY or IIPR?
By revenue growth (latest reported year), Tilray Brands, Inc.
(TLRY) is pulling ahead at 4. 8% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: Innovative Industrial Properties, Inc. grew EPS -28. 8% year-over-year, compared to -651. 7% for Tilray Brands, Inc.. Over a 3-year CAGR, TLRY leads at 12. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — TLRY or IIPR?
Innovative Industrial Properties, Inc.
(IIPR) is the more profitable company, earning 43. 0% net margin versus -266. 3% for Tilray Brands, Inc. — meaning it keeps 43. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IIPR leads at 46. 7% versus -277. 9% for TLRY. At the gross margin level — before operating expenses — IIPR leads at 88. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is TLRY or IIPR more undervalued right now?
Analyst consensus price targets imply the most upside for TLRY: 76.
7% to $10. 00.
07Which pays a better dividend — TLRY or IIPR?
In this comparison, IIPR (13.
5% yield) pays a dividend. TLRY does not pay a meaningful dividend and should not be held primarily for income.
08Is TLRY or IIPR better for a retirement portfolio?
For long-horizon retirement investors, Innovative Industrial Properties, Inc.
(IIPR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 92), 13. 5% yield, +436. 4% 10Y return). Tilray Brands, Inc. (TLRY) carries a higher beta of 2. 03 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (IIPR: +436. 4%, TLRY: -74. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between TLRY and IIPR?
These companies operate in different sectors (TLRY (Healthcare) and IIPR (Real Estate)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: TLRY is a small-cap quality compounder stock; IIPR is a small-cap deep-value stock. IIPR pays a dividend while TLRY does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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