Among the top 5 multi-state operators (MSOs) in the cannabis industry is Cresco Labs (OTC: CRLBF), with a significant presence in states like Ohio, Pennsylvania and Florida. According to a report from Pablo Zuanic of Zuanic & Associates, among the top 5 MSOs, Cresco has the strongest brand portfolio measured by market share in overlapping states and operates one of the best-performing dispensary chains Cresco Labs' profit and cash flow metrics are among the best in MSOs and trading at 6.5x EBITDA, the stock is attractively valued compared to peers. This makes Cresco Labs an interesting cannabis stock for investors seeking value and growth in the industry. Financial Performance According to Zuanic’s report, Cresco Labs has shown substantial improvement in its financial metrics. As of the first quarter of 2024, the company reported sales of $194 million, with an estimated revenue of $748 million for the full year. Cresco's second-quarter earnings forecast projects an increase in sales to $199 million by the end of 2025. The company’s adjusted gross margins have increased by nearly 600 basis points to 51% in the first quarter of 2024. The adjusted EBITDA margins have also risen significantly, improving by 1400 basis points to 29%. Operating cash flow has seen a marked increase, rising from $15-19 million in the calendar years 2021-2022 to $59 million in 2023. Market Position And Valuation In 2023, Cresco Labs focused on improving its financial performance by divesting underperforming units and concentrating on its core operations. This strategic shift has led to significant improvements in profitability and cash flow. The report notes now Cresco ...