Viridian Chart Of The Week: Does Higher Capital Intensity Pay Off In Cannabis?
Viridian Chart Of The Week: Does Higher Capital Intensity Pay Off In Cannabis?
本週Viridian走勢圖：更高的資本密集度會爲大麻帶來回報嗎？
The Viridian Chart of the Week on 8/27/23 demonstrated that cannabis is more capital-intensive than tobacco, alcohol, pharmaceuticals, or general consumer products. Cannabis measured 1.67x capital/sales. The industry has managed to reduce capital intensity slightly since then, and the group now measures 1.54x capital/sales.
23 年 8 月 27 日的 Viridian 本週走勢圖顯示，大麻比菸草、酒精、藥品或一般消費品更具資本密集性。大麻的資本/銷售額爲1.67倍。自那時以來，該行業設法略微降低了資本密集度，該集團現在的資本/銷售額爲1.54倍。
The high capital intensity has severe implications for internally fundable growth. If, on average, it takes $1.54 of extra capital to get $1 of additional sales, with 30% EBITDA margins and high 280e taxes, it is clear that growth requires external financing. S3 will help but not eliminate this issue.
高資本密集度對內部可資助的增長產生了嚴重影響。如果平均而言，需要1.54美元的額外資本才能獲得1美元的額外銷售額，30％的息稅折舊攤銷前利潤率和280e的高額稅收，那麼增長顯然需要外部融資。S3 可以幫助但不能消除這個問題。
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