Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 12, 2026
Tilray Brands, Inc. (TLRY)
A forensic read on Tilray Brands, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-5.1
Distress distance
Clean
Earnings quality
5
Forensic signals
-3.4
P / E (ttm)
-7.5%
ROE
$557M
Market cap
0.00%
Dividend yield
11.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Tilray Brands, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -5.1, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
62d DSO
FY2025→FY2026
Receivables vs revenue.Days sales outstanding moved from 50 to 62 days FY2025→FY2026 (receivables +56% vs revenue +11%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Across FY2024–FY2026 the day count ran 43 → 50 → 62 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter.
-2.8%
FY2026
Return on invested capital.Return on invested capital is -2.8% in the latest fiscal year and rising from -29% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
5% of rev
FY2026
Stock-based comp load.Stock-based compensation ran 5% of revenue in FY2026 — about $0.41 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 23.4% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
n/m (stock split)
FY2023–FY2026
Share count (stock split).Diluted share count changed -82% over the last 3 years to FY2026, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -43.4%/yr figure isn't a real buyback/dilution read here.
$265M
FY2020–FY2021
Key fundamentals
Latest Revenue$915.5M
Revenue Growth YoY+11.5%
Revenue CAGR (3yr)+13.4%
Net Margin-13.3%
Return on Equity-7.5%
Debt / Equity0.01x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Tilray Brands, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 12, 2026. Forensic signals flag probability, not certainty.
Goodwill impairments.Took $265M of goodwill writedowns across 2 years (FY2020 ($41M), FY2021 ($224M)). Writedowns mean past acquisitions underperformed what was paid for them.
Tilray Brands, Inc. (TLRY) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy