Cannabis Vs. Coca-Cola And Marlboro: Marijuana Market Growth Outpaces Alcohol, Tobacco, And CPG Giants
Cannabis Vs. Coca-Cola And Marlboro: Marijuana Market Growth Outpaces Alcohol, Tobacco, And CPG Giants
Recent financial data from Beacon Securities compares key financial metrics across the alcohol, tobacco and cannabis industries, showing that cannabis is set to outpace major players like Coca-Cola (NYSE:KO), Marlboro (NYSE:MO), and Budweiser (NYSE:BUD) in market growth.
來自Beacon Securities的最新財務數據比較了酒類、菸草和大麻行業的主要財務指標，顯示大麻正在市場增長方面超過可口可樂（紐交所：KO）、萬寶路（紐交所：MO）和百威（紐交所：BUD）等主要公司。
Financial Metrics
財務指標
The EV/Sales ratio, which compares a company's total value, including debt to its annual sales helps investors see the cost per dollar of sales. A lower EV/Sales ratio suggests a company might be undervalued, indicating a potential investment opportunity, while a higher ratio could imply overvaluation.
EV/Sales比率是指公司總價值（包括債務）與年度銷售額的比較，幫助投資者了解每銷售一美元的成本。較低的EV/Sales比率意味着公司可能被低估，表明存在投資機會，而較高的比率可能意味着高估。
Beacon's report shows the EV/Sales ratios for 2024 and 2025 as follows:
Beacon的報告顯示2024年和2025年的EV/Sales比率如下：
- Alcohol: 3.6x and 3.4x
- Tobacco: 4.0x and 3.9x
- Consumer Packaged Goods (CPG): 3.4x and 3.3x
- Canadian Licensed Producers (LP): 1.4x and 1.1x
- U.S. Operators: 1.7x and 1.5x
- 酒類：3.6倍和3.4倍
- 菸草：4.0倍和3.9倍
- 包裝消費品（CPG）：3.4倍和3.3倍
- 加拿大授權生產商（LP）：1.4倍和1.1倍
- 美國運營商：1.7倍和1.5倍
In terms of the EV/EBITDA metric, which compares company value to earnings before interest, taxes, depreciation and amortization, lower numbers indicate better valuation relative to earnings. Here are the projections:
就EV/EBITDA指標而言，這個比率比較公司價值和利潤（扣除利息、稅項、折舊和攤銷），數字越低表明相對於利潤而言公司估值越好。以下是預測結果：
- Alcohol: 11.0x for 2024 and 10.4x for 2025
- Tobacco: 7.5x for 2024 and 7.4x for 2025
- CPG: 15.5x for 2024 and 14.6x for 2025
- Canadian Licensed Producers (LP): 17.1x for 2024 and 12.9x for 2025
- U.S. Operators: 8.0x for 2024 and 6.2x for 2025
- 酒類：2024年11.0倍，2025年10.4倍
- 菸草：2024年7.5倍，2025年7.4倍
- CPG：2024年15.5倍，2025年14.6倍
- 加拿大授權生產商（LP）：2024年17.1倍，2025年12.9倍
- 美國運營商：2024年8.0倍，2025年6.2倍
Growth Prospects
增長前景
Meanwhile, the 2023-2025 EBITDA Compound Annual Growth Rate (CAGR) reveals differing growth expectations:
與此同時，2023-2025 EBITDA複合年增長率（CAGR）顯示了不同的增長預期：
- Alcohol: 6%
- Tobacco: 1%
- CPG: 6%
- Canadian Licensed Producers (LP): 65%
- U.S. Operators: 42%
- 酒類：6%
- 菸草：1%
- 包裝消費品（CPG）：6%
- 加拿大授權生產商（LP）：65%
- 美國運營商：42%
This means that the cannabis industry, particularly U.S. operators and Canadian licensed producers, appears to be undervalued compared to the alcohol, tobacco and consumer packaged goods (CPG) sectors. Despite having significantly lower EV/Sales ratios, indicating they are currently valued lower per dollar of sales, cannabis companies show much higher growth potential as reflected in their impressive EBITDA growth rates.
這意味着，尤其是美國經營者和加拿大有牌照生產商的大麻股行業板塊，似乎相對於酒精、菸草和包裝消費品行業板塊被低估。儘管EV/銷售比率明顯更低，說明它們目前以較低的銷售額估值，但大麻公司在EBITDA增長率方面表現出更高的增長潛力。
Investors may be overlooking the rapid growth and future profitability of the cannabis sector, which is poised to outpace more established industries. This discrepancy suggests a potential investment opportunity in the cannabis market as its growth trajectory continues to rise.
投資者可能正在忽視大麻行業板塊快速增長和未來的盈利能力，這將超過更加成熟的行業板塊。這種差異表明，隨着其增長軌跡不斷上升，大麻市場存在潛在的投資機會。
These investing issues will be a hot topic at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the industry. Hear directly from top executives, investors, advocates, and policymakers. Get your tickets now before prices go up by following this link.
這些投資問題將是即將在芝加哥舉行的Benzinga大麻資本會議上的熱門話題，於10月8日至9日。加入我們，了解關於這波大麻合法化浪潮對行業投資的未來意味着什麼的更多見解。直接聽取高管、投資者、倡導者和政策制定者的意見。通過以下鏈接立即購買門票，在價格上漲之前搶票。
Photo: AI-Generated Image.
照片：AI生成的圖像。
譯文內容由第三人軟體翻譯。