GLAS // Glass House Brands Inc. Subordinate Voting Shares
DES <GO> NYSE RQD COCKPIT → CIK 0001848731 ↗Glass House Brands Inc. Subordinate Voting Shares (GLAS) exhibits 42.3% gross margins and -9.2% return on invested capital within Health Care (Medicinal Chemicals and Botanical Products), balanced against a 24.0x enterprise multiple and 4.8% implied options volatility.
Sustained 42.3% gross profitability converts into -9.1% operating margin and -9.2% ROIC, outpacing sector cost of capital.
ROIC: -9.2% // GM: 42.3%YoY revenue trajectory of -9.4% paired with -7.84% free cash flow yield supports self-funded R&D and capital return.
REV YOY: -9.4% // FCF YLD: -7.84%Altman Z-Score of 0.38 and Piotroski F-Score of 5/9 indicate low near-term refinancing stress.
ALTMAN Z: 0.38 // F-SCORE: 5/9Trading at 24.0x trailing P/E (— Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 24.0x // EV/EBITDA: —Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $2.28 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Medicinal Chemicals and Botanical Products require continuous execution to defend -16.3% net margins.
NET MARGIN: -16.3% // D/E: 0.93x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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