What is TerrAscend Corp. worth?
With the base-case assumptions below, a discounted cash flow model on TerrAscend Corp.'s reported free cash flow gives $0.73 per share. The share price was $0.61 on September 28, 2026, 17% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 8.5% | 10.0% | $0.24 | -61% |
| Base | 13.5% | 9.0% | $0.73 | +20% |
| Bull | 18.5% | 8.0% | $1.71 | +180% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $1.11 | $1.23 | $1.37 | $1.55 | $1.78 |
| 8.0% | $0.83 | $0.90 | $0.99 | $1.10 | $1.23 |
| 9.0% | $0.62 | $0.67 | $0.73 | $0.80 | $0.88 |
| 10.0% | $0.46 | $0.50 | $0.54 | $0.59 | $0.65 |
| 11.0% | $0.34 | $0.37 | $0.40 | $0.43 | $0.47 |
Where the presets come from
Base: years 1 to 5 grow at TerrAscend Corp.'s revenue growth rate over the last 5 fiscal years (13.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions