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.
来自Beacon Securities的最新财务数据比较了酒类、烟草和大麻行业的主要财务指标，显示大麻正在市场增长方面超过可口可乐（纽交所：KO）、万宝路（纽交所：MO）和百威（纽交所：BUD）等主要公司。
Financial Metrics
财务指标
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比率是指公司总价值（包括债务）与年度销售额的比较，帮助投资者了解每销售一美元的成本。较低的EV/Sales比率意味着公司可能被低估，表明存在投资机会，而较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的报告显示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
- 酒类：3.6倍和3.4倍
- 烟草：4.0倍和3.9倍
- 包装消费品（CPG）：3.4倍和3.3倍
- 加拿大授权生产商（LP）：1.4倍和1.1倍
- 美国运营商：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指标而言，这个比率比较公司价值和利润（扣除利息、税项、折旧和摊销），数字越低表明相对于利润而言公司估值越好。以下是预测结果：
- 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
- 酒类：2024年11.0倍，2025年10.4倍
- 烟草：2024年7.5倍，2025年7.4倍
- CPG：2024年15.5倍，2025年14.6倍
- 加拿大授权生产商（LP）：2024年17.1倍，2025年12.9倍
- 美国运营商：2024年8.0倍，2025年6.2倍
Growth Prospects
增长前景
Meanwhile, the 2023-2025 EBITDA Compound Annual Growth Rate (CAGR) reveals differing growth expectations:
与此同时，2023-2025 EBITDA复合年增长率（CAGR）显示了不同的增长预期：
- Alcohol: 6%
- Tobacco: 1%
- CPG: 6%
- Canadian Licensed Producers (LP): 65%
- U.S. Operators: 42%
- 酒类：6%
- 烟草：1%
- 包装消费品（CPG）：6%
- 加拿大授权生产商（LP）：65%
- 美国运营商：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.
这意味着，尤其是美国经营者和加拿大有牌照生产商的大麻股行业板块，似乎相对于酒精、烟草和包装消费品行业板块被低估。尽管EV/销售比率明显更低，说明它们目前以较低的销售额估值，但大麻公司在EBITDA增长率方面表现出更高的增长潜力。
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.
投资者可能正在忽视大麻行业板块快速增长和未来的盈利能力，这将超过更加成熟的行业板块。这种差异表明，随着其增长轨迹不断上升，大麻市场存在潜在的投资机会。
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.
这些投资问题将是即将在芝加哥举行的Benzinga大麻资本会议上的热门话题，于10月8日至9日。加入我们，了解关于这波大麻合法化浪潮对行业投资的未来意味着什么的更多见解。直接听取高管、投资者、倡导者和政策制定者的意见。通过以下链接立即购买门票，在价格上涨之前抢票。
Photo: AI-Generated Image.
照片：AI生成的图像。