What is Canopy Growth's operating income?

Canopy Growth's total operating income in 2026 was -$115.86 million, based on the following breakdown: Total Gross Profit: $49.93 million Total Operating Expenses: $165.79 million

Canopy Growth (CGC) Financials

$0.96 -0.01 (-1.15%)

Closing price 04:00 PM Eastern

Extended Trading

$0.96 0.00 (-0.10%)

As of 07:58 PM Eastern

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Annual Income Statements for Canopy Growth

This table shows Canopy Growth's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-5.65	-52	-553	-931	-1,390	-248	-2,424	-512	-354	-188
Consolidated Net Income / (Loss)	-5.68	-40	-535	-978	-1,331	-265	-2,447	-526	-354	-188
Net Income / (Loss) Continuing Operations	-79	-40	-535	-978	-1,331	-207	-2,278	-384	-358	-188
Total Pre-Tax Income	-7.71	-40	-532	-1,063	-1,342	-215	-2,282	-375	-353	-188
Total Operating Income	-11	-93	-479	-1,176	-991	-816	-1,945	-169	-81	-116
Total Gross Profit	29	26	21	-22	53	-150	-47	60	55	50
Total Revenue	30	60	170	281	436	381	246	219	187	204
Operating Revenue	30	60	190	310	484	431	282	254	218	249
Other Revenue	-	-	-20	-29	-48	-50	-35	-35	-31	-45
Total Cost of Revenue	75	35	149	303	382	531	293	160	132	154
Operating Cost of Revenue	0.89	35	149	303	382	531	293	160	132	154
Total Operating Expenses	40	118	500	1,154	1,044	666	1,898	229	137	166
Selling, General & Admin Expense	13	80	295	489	459	333	253	169	118	115
Impairment Charge	-	-	-	-	-	296	1,626	49	22	48
Other Special Charges / (Income)	-	38	205	226	73	37	19	10	-2.92	3.06
Total Other Income / (Expense), net	2.86	53	-53	113	-351	602	-337	-206	-272	-73
Interest & Investment Income	-	-1.14	-8.08	-45	-42	-0.08	0.00	0.00	0.00	0.00
Other Income / (Expense), net	2.86	54	-45	158	-309	602	-337	-206	-272	-73
Income Tax Expense	-2.03	-0.30	3.09	-86	-10	-7.17	-4.24	9.10	4.97	0.02
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-57	-169	-142	4.19	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.04	13	18	-47	59	-16	-23	-14	0.00	0.00
Basic Earnings per Share	($0.06)	($0.38)	($2.76)	($3.80)	($3.74)	($6.35)	($52.27)	($6.85)	($3.29)	($0.63)
Weighted Average Basic Shares Outstanding	118.99M	177.30M	267.00M	348.04M	371.66M	39.13M	46.37M	74.79M	107.55M	298.04M
Diluted Earnings per Share	($0.06)	($0.38)	($2.76)	($3.80)	($3.74)	($6.35)	($52.27)	($6.85)	($3.29)	($0.63)
Weighted Average Diluted Shares Outstanding	-	177.30M	267.00M	348.04M	371.66M	39.13M	46.37M	74.79M	107.55M	298.04M
Weighted Average Basic & Diluted Shares Outstanding	-	177.30M	267.00M	348.04M	371.66M	402.86M	586.62M	76.20M	185.19M	422.15M

This table shows Canopy Growth's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-229	-164	-90	-93	-95	-85	-81	-30	-1.18	-46	-111
Consolidated Net Income / (Loss)	-240	-164	-90	-93	-95	-85	-81	-30	-1.18	-46	-111
Net Income / (Loss) Continuing Operations	-109	-174	-92	-94	-97	-85	-82	-30	-1.18	-46	-111
Total Pre-Tax Income	-100	-175	-93	-90	-97	-84	-82	-30	-1.02	-45	-112
Total Operating Income	-5.18	-46	-77	-21	-34	-17	-9.65	-17	-12	-19	-68
Total Gross Profit	17	21	11	17	16	17	5.57	13	16	16	5.30
Total Revenue	51	59	51	55	55	60	17	65	60	66	13
Operating Revenue	61	68	58	55	55	60	48	65	60	66	58
Total Cost of Revenue	34	38	40	39	39	43	11	52	44	50	7.99
Operating Cost of Revenue	34	38	40	39	39	43	11	52	44	50	7.99
Total Operating Expenses	22	67	87	38	50	33	15	30	28	35	73
Selling, General & Admin Expense	43	41	38	35	31	29	23	28	26	32	28
Impairment Charge	-22	23	46	0.01	15	0.89	5.40	1.95	0.35	1.82	44
Other Special Charges / (Income)	2.01	2.80	2.86	3.03	3.86	3.58	-13	-0.07	1.44	0.65	1.04
Total Other Income / (Expense), net	-95	-130	-17	-69	-63	-68	-72	-14	11	-26	-44
Other Income / (Expense), net	-95	-130	-17	-69	-63	-68	-72	-14	11	-26	-44
Income Tax Expense	9.47	-0.82	-1.08	4.53	0.22	0.22	-0.00	0.21	0.15	0.27	-0.62
Basic Earnings per Share	($3.20)	($1.98)	($1.21)	($1.17)	($1.10)	($0.77)	($0.76)	($0.16)	($0.01)	($0.13)	($0.33)
Weighted Average Basic Shares Outstanding	71.63M	82.92M	74.79M	79.24M	86.83M	110.31M	107.55M	188.32M	274.03M	345.53M	298.04M
Diluted Earnings per Share	($3.20)	($1.98)	($1.21)	($1.17)	($1.10)	($0.77)	($0.76)	($0.16)	($0.01)	($0.13)	($0.33)
Weighted Average Diluted Shares Outstanding	71.63M	82.92M	74.79M	79.24M	86.83M	110.31M	107.55M	188.32M	274.03M	345.53M	298.04M
Weighted Average Basic & Diluted Shares Outstanding	-	-	76.20M	-	105.36M	147.12M	185.19M	239.85M	342.20M	377.86M	422.15M

This table details how cash moves in and out of Canopy Growth's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Net Change in Cash & Equivalents	65	171	1,622	-830	-118	-303	-73	-374	-39	180
Net Cash From Operating Activities	-20	-63	-402	-544	-371	-437	-412	-208	-115	-46
Net Cash From Continuing Operating Activities	-21	-63	-402	-544	-371	-358	-292	-169	-115	-46
Net Income / (Loss) Continuing Operations	-5.68	-40	-535	-978	-1,331	-207	-2,278	-384	-358	-188
Consolidated Net Income / (Loss)	-5.68	-40	-535	-978	-1,331	-265	-2,447	-526	-354	-188
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-57	-169	-142	4.19	0.00
Depreciation Expense	3.11	6.76	23	52	57	61	41	21	15	14
Amortization Expense	1.44	9.12	13	36	45	28	18	18	15	13
Non-Cash Adjustments To Reconcile Net Income	-9.60	-19	271	381	837	-403	1,883	173	235	102
Changes in Operating Assets and Liabilities, net	-11	-20	-173	-36	22	164	44	2.93	-22	15
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-80	-121	-40	0.00	0.00
Net Cash From Investing Activities	-14	-173	-2,426	-245	-705	185	320	178	-33	-15
Net Cash From Continuing Investing Activities	-14	-173	-2,426	-245	-705	185	338	162	-43	-15
Purchase of Property, Plant & Equipment	-22	-154	-553	-588	-131	-29	-6.74	-2.55	-7.52	-3.82
Acquisitions	8.40	-25	-320	-363	-7.68	74	10	-1.11	-5.17	-30
Sale of Property, Plant & Equipment	-	5.43	0.00	0.00	37	22	10	114	3.43	0.00
Sale and/or Maturity of Investments	0.00	-	-	-	-	437	372	58	11	14
Other Investing Activities, net	-	0.00	0.00	-296	-256	-318	-47	-5.95	-45	5.11
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-0.02	-18	16	9.82	0.00
Net Cash From Financing Activities	99	408	4,397	-40	1,008	-36	-15	-343	103	238
Net Cash From Continuing Financing Activities	99	408	4,397	-40	1,008	-36	-15	-343	103	238
Repayment of Debt	-0.72	-1.17	-16	-80	-24	-43	-115	-403	-218	-179
Issuance of Debt	2.63	43	451	10	712	0.00	100	0.00	47	149
Issuance of Common Equity	92	365	3,928	0.00	0.00	2.16	0.78	60	268	268
Other Financing Activities, net	5.52	9.17	50	29	320	4.46	0.21	0.00	5.96	0.00
Effect of Exchange Rate Changes	-	-	52	-0.14	-51	-15	33	-0.95	5.83	2.59
Cash Interest Paid	-	-	-	18	20	96	97	72	45	21
Cash Interest Received	-	-	-	47	21	13	21	13	6.22	7.16
Cash Income Taxes Paid	-	0.00	0.38	3.85	21	3.16	4.95	6.14	0.63	0.57

This table details how cash moves in and out of Canopy Growth's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-212	-84	30	16	27	-49	-33	9.10	123	56	-8.00
Net Cash From Operating Activities	-56	-29	-11	-38	-40	-14	-23	-7.59	-13	-13	-13
Net Cash From Continuing Operating Activities	-47	-28	-13	0.00	-	-14	-115	0.00	-	-	-46
Net Income / (Loss) Continuing Operations	-109	-177	-89	-94	-99	-73	-92	-30	-0.50	-46	-111
Consolidated Net Income / (Loss)	-239	-171	-84	-93	-96	-73	-92	-30	-0.50	-46	-111
Depreciation Expense	4.16	4.79	3.93	4.15	3.71	2.95	4.16	3.49	3.35	3.57	3.22
Amortization Expense	4.81	5.03	3.62	3.91	4.02	3.24	3.85	3.61	3.13	3.14	2.63
Non-Cash Adjustments To Reconcile Net Income	49	134	49	58	68	50	60	9.73	-17	27	82
Changes in Operating Assets and Liabilities, net	4.56	5.47	20	-9.09	-17	3.02	1.19	6.07	-1.27	-0.78	11
Net Cash From Investing Activities	42	3.31	25	-24	0.46	-8.81	-0.74	-0.52	12	4.03	-31
Net Cash From Continuing Investing Activities	55	-7.37	7.13	-32	-2.05	-8.20	-1.25	-0.52	12	4.03	-31
Purchase of Property, Plant & Equipment	-0.48	-0.48	-0.12	-2.86	-1.95	-0.55	-2.16	-0.96	-0.86	-1.34	-0.66
Acquisitions	-0.36	-2.77	2.25	-5.10	-0.07	0.04	-0.05	-0.13	-0.17	-0.07	-30
Sale of Property, Plant & Equipment	50	3.85	-2.69	3.60	0.05	-0.23	0.01	0.00	-0.00	0.00	-0.00
Sale and/or Maturity of Investments	5.33	-8.13	6.28	22	0.40	-11	-0.35	0.57	13	0.65	-0.24
Other Investing Activities, net	0.55	0.15	1.41	-49	-0.48	3.10	1.29	0.00	0.42	4.79	-0.09
Net Cash From Financing Activities	-200	-58	15	77	67	-30	-11	19	121	69	30
Net Cash From Continuing Financing Activities	-200	-58	15	77	67	-30	-11	19	121	69	30
Repayment of Debt	-225	-58	-19	-12	-3.30	-102	-101	-9.40	-53	-1.94	-115
Issuance of Debt	-	-	-	50	0.64	-3.12	0.07	0.00	-	-	149
Issuance of Common Equity	25	0.63	34	39	63	75	90	28	174	71	-4.71
Effect of Exchange Rate Changes	1.85	-0.66	1.28	0.65	0.11	3.67	1.41	-1.49	2.98	-4.44	5.53
Cash Interest Paid	21	17	12	13	13	10	8.20	4.37	7.49	6.17	2.76
Cash Interest Received	2.42	2.44	2.59	1.53	1.83	-1.94	4.81	0.80	1.42	2.32	2.62
Cash Income Taxes Paid	3.24	0.78	1.94	0.00	0.25	0.15	0.23	0.27	0.23	0.01	0.06

This table presents Canopy Growth's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Total Assets	527	1,114	6,436	4,833	5,437	4,491	1,804	960	638	802
Total Current Assets	134	373	3,697	1,807	2,262	1,384	796	274	205	379
Cash & Equivalents	76	250	1,864	918	920	622	494	126	79	261
Restricted Cash	-	-	16	15	9.03	9.79	8.70	5.40	4.46	3.62
Short-Term Investments	-	-	1,529	474	912	477	78	24	12	0.00
Note & Lease Receivable	-	-	80	64	74	69	51	38	37	26
Inventories, net	35	91	143	276	293	164	62	57	67	79
Prepaid Expenses	3.22	15	64	60	54	42	18	17	5.25	9.27
Other Current Nonoperating Assets	-	-	-	-	-	-	86	5.94	0.00	0.00
Plant, Property, & Equipment, net	72	235	824	1,075	856	755	348	236	204	227
Total Noncurrent Assets	321	505	1,916	1,951	2,319	2,351	659	450	229	195
Long-Term Investments	0.00	49	84	46	-	-	-	323	125	77
Goodwill	181	244	1,120	1,377	1,506	1,495	63	32	32	40
Intangible Assets	122	79	419	336	246	202	119	77	61	66
Noncurrent Deferred & Refundable Income Taxes	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Noncurrent Operating Assets	18	133	293	192	568	653	435	18	11	12
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	42	0.00	0.00	0.00
Total Liabilities & Shareholders' Equity	527	1,114	6,436	4,833	5,437	4,491	1,804	960	638	802
Total Liabilities	47	150	1,122	1,184	2,551	1,590	1,242	665	305	302
Total Current Liabilities	12	71	309	296	227	171	594	247	72	114
Short-Term Debt	-	1.21	78	12	7.83	7.45	412	77	2.96	12
Accounts Payable	12	69	142	87	54	51	24	21	18	25
Accrued Expenses	-	-	28	46	80	60	40	40	27	31
Other Current Liabilities	-	0.70	61	152	85	52	69	109	24	46
Other Current Nonoperating Liabilities	-	-	-	-	-	-	50	0.00	0.00	0.00
Total Noncurrent Liabilities	35	79	813	887	2,325	1,419	648	417	234	188
Long-Term Debt	7.75	5.32	633	316	1,254	1,195	555	364	209	156
Noncurrent Deferred & Payable Income Tax Liabilities	27	26	79	33	17	13	0.00	0.00	0.00	5.88
Other Noncurrent Operating Liabilities	0.58	47	101	538	1,054	211	91	53	25	27
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	2.53	0.00	0.00	0.00
Commitments & Contingencies	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	480	964	5,310	3,600	2,778	2,874	562	296	333	500
Total Preferred & Common Equity	480	898	5,095	3,443	2,775	2,871	561	296	333	500
Total Common Equity	480	898	5,095	3,443	2,775	2,871	561	296	333	500
Common Stock	467	835	5,727	6,334	7,637	8,015	7,723	7,964	7,896	8,475
Retained Earnings	-16	-71	-628	-3,047	-4,836	-5,110	-7,152	-7,656	-7,563	-7,983
Accumulated Other Comprehensive Income / (Loss)	12	36	-4.44	156	-27	-34	-10	-12	0.37	7.55
Noncontrolling Interest	-0.02	65	215	156	3.75	3.48	1.17	0.10	0.00	0.00

This table presents Canopy Growth's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	1,233	1,030	940	912	808	664	768	807
Total Current Assets	365	301	261	290	237	223	320	383
Cash & Equivalents	178	108	140	169	112	93	214	271
Restricted Cash	5.90	5.51	5.62	5.54	4.94	4.28	4.06	3.67
Short-Term Investments	22	33	2.02	2.08	11	13	0.00	0.00
Note & Lease Receivable	51	48	37	31	34	37	19	24
Inventories, net	65	66	62	67	63	69	74	77
Prepaid Expenses	17	18	14	16	11	7.38	9.24	7.45
Other Current Nonoperating Assets	26	22	0.00	0.00	0.00	0.00	0.00	0.00
Plant, Property, & Equipment, net	256	258	230	224	208	214	207	208
Total Noncurrent Assets	612	471	448	398	364	228	241	216
Long-Term Investments	-	-	110	101	35	119	136	113
Goodwill	62	65	32	33	31	35	35	35
Intangible Assets	110	90	72	71	62	62	58	56
Other Noncurrent Operating Assets	425	316	234	193	236	12	12	13
Other Noncurrent Nonoperating Assets	15	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities & Shareholders' Equity	1,233	1,030	940	912	808	664	768	807
Total Liabilities	679	617	551	535	398	305	240	254
Total Current Liabilities	145	168	122	208	67	72	58	72
Short-Term Debt	37	69	1.80	102	2.20	4.63	1.33	0.00
Accounts Payable	17	20	19	14	20	18	13	15
Accrued Expenses	38	38	37	32	26	34	28	32
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	0.00	0.00	0.00
Other Current Liabilities	39	41	64	61	19	16	16	25
Other Current Nonoperating Liabilities	14	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Liabilities	534	450	429	327	330	233	181	182
Long-Term Debt	466	394	408	308	304	212	163	164
Other Noncurrent Operating Liabilities	66	55	21	19	26	21	19	18
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	554	413	389	377	411	359	528	553
Total Preferred & Common Equity	554	412	389	377	411	0.00	0.00	0.00
Total Common Equity	554	412	389	377	411	359	528	553
Common Stock	7,976	8,179	8,047	8,224	7,853	8,408	8,396	8,595
Retained Earnings	-7,404	-7,755	-7,642	-7,835	-7,436	-8,054	-7,878	-8,047
Accumulated Other Comprehensive Income / (Loss)	-18	-12	-16	-12	-6.25	5.32	10	4.80
Noncontrolling Interest	0.10	0.11	0.00	0.00	0.00	0.00	0.00	0.00

This table displays calculated financial ratios and metrics derived from Canopy Growth's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
DEI Shares Outstanding	0.00	200,989,264.00	337,510,408.00	337,510,408.00	376,840,247.00	394,170,916.00	494,894,047.00	-	147,120,088.00	377,862,634.00
DEI Adjusted Shares Outstanding	0.00	20,098,926.00	33,751,041.00	33,751,041.00	37,684,025.00	39,417,092.00	49,489,405.00	-	147,120,088.00	377,862,634.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-2.60	-16.39	-27.59	-36.90	-6.30	-48.98	-	-2.41	-0.50
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	101.78%	181.47%	65.22%	55.01%	-12.51%	-35.35%	-10.93%	-14.76%	9.03%
EBITDA Growth	0.00%	-623.42%	-2,036.80%	-90.31%	-28.90%	89.52%	-1,669.13%	86.10%	3.75%	49.78%
EBIT Growth	0.00%	-402.39%	-1,252.00%	-94.32%	-27.69%	83.50%	-963.71%	84.74%	5.84%	46.65%
NOPAT Growth	0.00%	-777.05%	-416.65%	-145.53%	15.75%	17.63%	-138.29%	91.32%	51.77%	-42.21%
Net Income Growth	0.00%	-596.47%	-1,251.60%	-82.73%	-36.18%	80.11%	-823.97%	79.60%	32.72%	46.76%
EPS Growth	0.00%	-533.33%	-626.32%	-37.68%	1.65%	80.11%	-823.97%	87.58%	51.95%	80.83%
Operating Cash Flow Growth	0.00%	-210.69%	-536.29%	-35.42%	31.84%	-17.83%	5.73%	49.49%	44.64%	60.33%
Free Cash Flow Firm Growth	0.00%	0.00%	-576.25%	62.94%	41.32%	-163.72%	160.38%	-86.17%	-125.52%	35.48%
Invested Capital Growth	0.00%	63.13%	277.13%	-0.37%	-8.57%	29.83%	-70.86%	-25.60%	28.21%	0.49%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	20.53%	-16.61%	-11.36%	0.00%	-15.33%	-1.81%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	27.40%	36.69%	4.31%	0.00%	-4.80%	15.55%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	26.02%	25.63%	4.14%	0.00%	-4.51%	14.53%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	30.92%	-24.59%	-1.36%	0.00%	45.16%	-101.12%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	23.75%	12.62%	2.33%	0.00%	-5.39%	14.66%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	19.28%	12.62%	2.33%	0.00%	-8.21%	1.45%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	7.16%	-6.46%	1.38%	0.00%	-11.42%	18.94%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-3.04%	-41.71%	0.00%	80.52%	-144.87%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-11.00%	-10.75%	23.35%	0.00%	-41.65%	-1.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	97.04%	42.32%	12.48%	-7.95%	12.25%	-39.40%	-19.06%	27.22%	29.56%	24.48%
EBITDA Margin	-10.56%	-37.84%	-287.28%	-330.92%	-275.17%	-32.97%	-902.05%	-140.73%	-172.73%	-79.55%
Operating Margin	-35.30%	-153.43%	-281.63%	-418.53%	-227.47%	-214.17%	-789.34%	-76.97%	-43.55%	-56.80%
EBIT Margin	-25.76%	-64.12%	-308.01%	-362.27%	-298.42%	-56.29%	-926.07%	-158.63%	-188.76%	-92.37%
Profit (Net Income) Margin	-18.98%	-65.51%	-314.58%	-347.93%	-305.65%	-69.49%	-993.10%	-227.43%	-189.18%	-92.38%
Tax Burden Percent	73.69%	99.24%	100.58%	91.94%	99.22%	123.41%	107.24%	143.37%	100.22%	100.01%
Interest Burden Percent	100.00%	102.95%	101.54%	104.46%	103.23%	100.04%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1.80%	-11.99%	-20.94%	-32.58%	-28.73%	-21.56%	-70.42%	-15.54%	-19.82%	-25.03%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.30%	-26.01%	-7.94%	-24.68%	46.03%	-147.71%	-607.25%	-144.63%	1,093.83%	91.16%
Return on Net Nonoperating Assets (RNNOA)	0.61%	6.50%	3.89%	10.76%	-12.02%	12.40%	-70.93%	-91.61%	-92.77%	-20.22%
Return on Equity (ROE)	-1.18%	-5.48%	-17.04%	-21.82%	-40.75%	-9.15%	-141.34%	-107.15%	-112.59%	-45.25%
Cash Return on Invested Capital (CROIC)	0.00%	-59.97%	-137.10%	-32.20%	-19.78%	-47.52%	39.33%	13.82%	-44.55%	-25.52%
Operating Return on Assets (OROA)	-1.46%	-4.72%	-13.88%	-18.07%	-25.32%	-4.32%	-72.50%	-25.19%	-44.18%	-26.17%
Return on Assets (ROA)	-1.08%	-4.82%	-14.17%	-17.35%	-25.93%	-5.34%	-77.75%	-36.11%	-44.28%	-26.17%
Return on Common Equity (ROCE)	-1.18%	-5.23%	-16.27%	-20.78%	-38.77%	-8.93%	-140.09%	-107.01%	-112.57%	-45.25%
Return on Equity Simple (ROE_SIMPLE)	-1.18%	-4.41%	-10.50%	-28.39%	0.00%	-9.22%	-436.37%	-135.06%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-7.40	-65	-335	-823	-694	-571	-1,361	-118	-57	-81
NOPAT Margin	-24.71%	-107.40%	-197.14%	-292.97%	-159.23%	-149.92%	-552.54%	-53.88%	-30.48%	-39.76%
Net Nonoperating Expense Percent (NNEP)	2.50%	14.02%	-12.99%	-7.90%	-74.76%	126.15%	536.83%	129.09%	-1,113.65%	-116.19%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-17.17%	-	-89.09%	-	-10.48%	-12.16%
Cost of Revenue to Revenue	249.06%	57.68%	87.52%	107.95%	87.75%	139.40%	119.06%	72.78%	70.44%	75.52%
SG&A Expenses to Revenue	42.26%	132.76%	173.30%	173.97%	105.26%	87.33%	102.78%	77.21%	63.06%	56.21%
R&D to Revenue	2.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	132.34%	195.75%	294.11%	410.58%	239.72%	174.77%	770.28%	104.19%	73.11%	81.28%
Earnings before Interest and Taxes (EBIT)	-7.71	-39	-524	-1,018	-1,300	-215	-2,282	-348	-353	-188
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.16	-23	-489	-930	-1,199	-126	-2,223	-309	-323	-162
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.71	1.41	4.35	1.04	1.54	2.13	0.40	0.72
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.45	2.81	11.79	2.55	2.29	3.02	0.56	0.91
Price to Revenue (P/Rev)	0.00	0.00	51.25	17.32	27.71	7.84	3.51	3.58	0.72	1.76
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.43	1.56	5.03	1.04	1.44	1.65	0.38	0.57
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	36.18	14.04	26.63	8.16	5.09	4.88	0.66	0.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	1.65	10.19	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.02	0.01	0.13	0.09	0.44	0.41	1.72	1.19	0.64	0.33
Long-Term Debt to Equity	0.02	0.01	0.12	0.09	0.43	0.41	0.99	0.99	0.63	0.31
Financial Leverage	-0.14	-0.25	-0.49	-0.44	-0.26	-0.08	0.12	0.63	-0.08	-0.22
Leverage Ratio	1.10	1.14	1.20	1.26	1.57	1.72	1.82	2.97	2.54	1.73
Compound Leverage Factor	1.10	1.17	1.22	1.31	1.62	1.72	1.82	2.97	2.54	1.73
Debt to Total Capital	1.59%	0.67%	11.80%	8.25%	30.41%	29.31%	63.23%	54.41%	38.85%	25.07%
Short-Term Debt to Total Capital	0.00%	0.12%	1.29%	0.29%	0.19%	0.18%	26.94%	9.47%	0.54%	1.74%
Long-Term Debt to Total Capital	1.59%	0.55%	10.50%	7.96%	30.22%	29.13%	36.29%	44.94%	38.31%	23.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	6.75%	3.64%	5.17%	2.69%	0.72%	0.08%	0.01%	0.00%	0.00%
Common Equity to Total Capital	98.42%	92.58%	84.56%	86.59%	66.90%	69.97%	36.69%	45.58%	61.15%	74.93%
Debt to EBITDA	-2.45	-0.29	-1.45	-0.35	-1.05	-9.57	-0.43	-1.43	-0.65	-1.03
Net Debt to EBITDA	21.72	12.79	5.69	1.21	0.48	-0.75	-0.17	-0.92	0.03	1.08
Long-Term Debt to EBITDA	-2.45	-0.23	-1.30	-0.34	-1.05	-9.51	-0.25	-1.18	-0.65	-0.96
Debt to NOPAT	-1.05	-0.10	-2.12	-0.40	-1.82	-2.10	-0.71	-3.73	-3.71	-2.06
Net Debt to NOPAT	9.28	4.51	8.30	1.37	0.84	-0.16	-0.28	-2.41	0.17	2.16
Long-Term Debt to NOPAT	-1.05	-0.08	-1.89	-0.38	-1.81	-2.09	-0.41	-3.08	-3.66	-1.92
Altman Z-Score	0.00	0.00	4.91	1.32	1.33	-0.21	-9.04	-11.16	-17.61	-13.35
Noncontrolling Interest Sharing Ratio	-0.01%	4.53%	4.54%	4.74%	4.85%	2.44%	0.89%	0.14%	0.02%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.19	5.24	11.95	6.10	9.98	8.10	1.34	1.58	2.86	3.34
Quick Ratio	6.74	3.74	11.23	4.91	8.41	6.84	1.05	1.09	1.79	2.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-325	-2,196	-814	-478	-1,259	760	105	-128	-83
Operating Cash Flow to CapEx	-91.86%	-42.58%	-72.71%	-92.58%	-392.75%	-5,803.41%	0.00%	0.00%	-2,818.40%	-1,197.56%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.06	0.07	0.05	0.05	0.08	0.08	0.08	0.16	0.23	0.28
Accounts Receivable Turnover	6.86	5.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	2.16	0.55	1.27	1.45	1.34	2.32	2.60	2.69	2.12	2.11
Fixed Asset Turnover	0.41	0.39	0.32	0.30	0.45	0.47	0.45	0.75	0.85	0.95
Accounts Payable Turnover	6.46	0.86	1.41	2.65	5.44	10.11	7.82	7.14	6.70	7.15
Days Sales Outstanding (DSO)	53.20	63.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	168.91	659.54	287.22	251.74	271.58	157.03	140.22	135.54	171.88	173.24
Days Payable Outstanding (DPO)	56.52	424.07	259.18	137.73	67.11	36.10	46.67	51.09	54.46	51.07
Cash Conversion Cycle (CCC)	165.59	298.82	28.04	114.01	204.47	120.92	93.55	84.45	117.41	122.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	412	671	2,532	2,522	2,306	2,994	873	649	323	325
Invested Capital Turnover	0.07	0.11	0.11	0.11	0.18	0.14	0.13	0.29	0.65	0.63
Increase / (Decrease) in Invested Capital	0.00	260	1,861	-9.49	-216	688	-2,122	-223	71	1.58
Enterprise Value (EV)	0.00	0.00	6,154	3,946	11,602	3,111	1,253	1,072	124	184
Market Capitalization	0.00	0.00	8,717	4,867	12,070	2,988	866	786	134	359
Book Value per Share	$4.04	$5.07	$25.35	$10.20	$7.36	$7.28	$1.13	$4.06	$2.26	$1.32
Tangible Book Value per Share	$1.49	$3.25	$17.69	$5.13	$2.72	$2.98	$0.77	$2.86	$1.63	$1.04
Total Capital	488	970	6,025	3,977	4,148	4,103	1,528	811	544	667
Total Debt	7.75	6.53	711	328	1,261	1,203	966	441	211	167
Total Long-Term Debt	7.75	5.32	633	316	1,254	1,195	555	364	209	156
Net Debt	-69	-292	-2,782	-1,126	-580	94	386	285	-9.59	-175
Capital Expenditures (CapEx)	22	148	553	588	94	7.53	-3.32	-111	4.09	3.82
Debt-free, Cash-free Net Working Capital (DFCFNWC)	46	53	56	114	202	112	34	22	40	13
Debt-free Net Working Capital (DFNWC)	122	303	3,465	1,522	2,043	1,221	614	178	136	278
Net Working Capital (NWC)	122	302	3,387	1,511	2,035	1,213	202	101	133	266
Net Nonoperating Expense (NNE)	-1.72	-25	200	154	638	-307	1,086	381	297	107
Net Nonoperating Obligations (NNO)	-69	-292	-2,782	-1,126	-580	94	311	279	-9.59	-175
Total Depreciation and Amortization (D&A)	4.55	16	35	88	101	89	59	39	30	26
Debt-free, Cash-free Net Working Capital to Revenue	152.93%	88.19%	33.04%	40.66%	46.31%	29.40%	13.60%	9.97%	21.53%	6.16%
Debt-free Net Working Capital to Revenue	408.10%	502.01%	2,037.27%	541.71%	468.98%	320.31%	249.15%	80.90%	72.78%	136.07%
Net Working Capital to Revenue	408.10%	500.01%	1,991.45%	537.60%	467.19%	318.36%	82.04%	45.93%	71.20%	130.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($4.00)	($25.70)	($38.00)	$0.00	$0.00	$0.00	($6.49)	($3.87)	($0.63)
Adjusted Weighted Average Basic Shares Outstanding	0.00	17.73M	26.70M	36.99M	38.30M	40.29M	0.00	74.79M	107.55M	298.04M
Adjusted Diluted Earnings per Share	$0.00	($4.00)	($25.70)	($38.00)	$0.00	$0.00	$0.00	($6.49)	($3.87)	($0.63)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	20.10M	33.75M	36.99M	38.30M	40.29M	0.00	74.79M	107.55M	298.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	($4.00)	($25.70)	($38.00)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	20.10M	33.75M	34.80M	38.30M	40.29M	0.00	76.20M	185.19M	422.15M
Normalized Net Operating Profit after Tax (NOPAT)	-7.40	-38	-191	-358	-345	-338	-210	-77	-44	-45
Normalized NOPAT Margin	-24.71%	-63.30%	-112.58%	-127.34%	-79.13%	-88.71%	-85.29%	-34.99%	-23.45%	-22.21%
Pre Tax Income Margin	-25.76%	-66.01%	-312.76%	-378.43%	-308.05%	-56.31%	-926.07%	-158.63%	-188.76%	-92.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-19.60%	-3.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Canopy Growth's official financial filings.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	717,196,302.00	829,083,667.00	91,114,604.00	76,197,615.00	-	-	147,120,088.00	185,192,210.00	239,849,225.00	-	377,862,634.00
DEI Adjusted Shares Outstanding	71,719,630.00	82,908,367.00	91,114,604.00	76,197,615.00	-	-	147,120,088.00	185,192,210.00	239,849,225.00	-	377,862,634.00
DEI Earnings Per Adjusted Shares Outstanding	-3.19	-1.98	-0.99	-1.22	-	-	-0.55	-0.16	0.00	-	-0.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	25.19%	14.46%	-9.33%	-12.69%	-66.51%	17.66%	8.87%	10.07%	-22.08%
EBITDA Growth	4.26%	-13.58%	73.20%	0.00%	-6.72%	52.70%	14.11%	71.68%	106.11%	50.54%	-43.70%
EBIT Growth	0.00%	-3.92%	73.14%	0.00%	2.85%	51.82%	12.48%	66.32%	98.95%	46.22%	-36.77%
NOPAT Growth	0.00%	45.14%	78.64%	0.00%	-556.84%	63.79%	87.43%	21.91%	64.33%	-16.16%	-603.69%
Net Income Growth	0.00%	0.00%	79.28%	0.00%	60.43%	48.45%	9.75%	67.18%	98.76%	46.04%	-36.49%
EPS Growth	-643.98%	24.26%	86.83%	0.00%	65.76%	61.16%	37.19%	86.19%	99.34%	82.97%	56.58%
Operating Cash Flow Growth	5.42%	79.47%	94.72%	66.32%	0.00%	51.91%	-103.83%	79.94%	68.42%	7.27%	46.06%
Free Cash Flow Firm Growth	-63.18%	-73.92%	-69.70%	-43.34%	-164.91%	-183.74%	-113.74%	-168.18%	130.48%	137.34%	36.94%
Invested Capital Growth	0.00%	0.00%	-71.11%	0.00%	0.00%	0.00%	28.21%	0.00%	-33.57%	-40.54%	0.49%
Revenue Q/Q Growth	6.27%	15.65%	-14.33%	8.71%	0.00%	11.36%	-71.51%	0.00%	-8.54%	10.62%	-79.83%
EBITDA Q/Q Growth	-11.25%	-81.73%	48.15%	-38.98%	0.00%	19.45%	5.85%	0.00%	123.55%	-808.94%	-173.54%
EBIT Q/Q Growth	-11.25%	-75.25%	46.75%	-35.32%	0.00%	13.09%	3.27%	0.00%	96.62%	-4,337.56%	-146.02%
NOPAT Q/Q Growth	75.66%	-782.51%	-67.99%	72.28%	0.00%	51.35%	41.67%	0.00%	26.97%	-58.42%	-253.35%
Net Income Q/Q Growth	-158.28%	31.57%	45.08%	-46.80%	0.00%	10.85%	3.85%	0.00%	96.14%	-3,780.96%	-143.22%
EPS Q/Q Growth	-158.28%	37.97%	39.03%	-37.55%	0.00%	29.63%	1.40%	0.00%	95.54%	-1,723.61%	-151.33%
Operating Cash Flow Q/Q Growth	-46.92%	48.01%	60.64%	-232.58%	0.00%	0.00%	-66.84%	67.27%	-67.89%	-1.15%	2.95%
Free Cash Flow Firm Q/Q Growth	-11.55%	-17.80%	-16.09%	6.78%	0.00%	-6.05%	86.23%	0.00%	145.30%	29.90%	-123.26%
Invested Capital Q/Q Growth	-100.00%	0.00%	0.00%	-100.00%	0.00%	8.73%	-41.65%	0.00%	-2.52%	-2.69%	-1.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.66%	35.95%	20.90%	30.39%	34.67%	32.23%	32.63%	20.33%	26.39%	23.75%	39.90%
EBITDA Margin	-177.03%	-278.18%	-168.35%	-147.75%	-208.36%	-150.71%	-431.70%	-35.57%	9.16%	-58.70%	-796.10%
Operating Margin	-10.07%	-76.83%	-150.66%	-38.41%	-72.94%	-31.86%	-56.55%	-25.49%	-20.35%	-29.15%	-510.68%
EBIT Margin	-194.47%	-294.70%	-183.17%	-162.30%	-208.36%	-162.62%	-478.63%	-46.46%	-1.72%	-68.88%	-840.10%
Profit (Net Income) Margin	-466.70%	-276.16%	-177.02%	-167.77%	-203.67%	-163.05%	-476.98%	-46.79%	-1.97%	-69.28%	-835.44%
Tax Burden Percent	239.99%	93.71%	96.64%	103.37%	97.75%	100.26%	99.66%	100.71%	115.02%	100.59%	99.45%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-41.16%	0.00%	0.00%	0.00%	-25.74%	-20.23%	-6.78%	-9.60%	-225.03%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-68.48%	0.00%	0.00%	0.00%	254.23%	299.81%	-32.14%	70.67%	-156.22%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-21.30%	0.00%	0.00%	0.00%	-21.56%	-9.84%	2.05%	-5.89%	34.65%
Return on Equity (ROE)	0.00%	0.00%	-62.46%	0.00%	0.00%	0.00%	-47.30%	-30.08%	-4.73%	-15.49%	-190.37%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	89.30%	0.00%	0.00%	0.00%	-44.55%	-230.97%	31.27%	41.72%	-25.52%
Operating Return on Assets (OROA)	0.00%	0.00%	-29.09%	0.00%	0.00%	0.00%	-112.02%	-13.77%	-0.41%	-17.72%	-238.00%
Return on Assets (ROA)	0.00%	0.00%	-28.11%	0.00%	0.00%	0.00%	-111.64%	-13.87%	-0.47%	-17.82%	-236.68%
Return on Common Equity (ROCE)	0.00%	0.00%	-62.37%	0.00%	0.00%	0.00%	-47.30%	-30.08%	-4.73%	-15.49%	-190.37%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.62	-32	-54	-15	-24	-12	-6.75	-12	-8.49	-13	-48
NOPAT Margin	-7.05%	-53.78%	-105.46%	-26.89%	-51.06%	-22.30%	-39.59%	-17.84%	-14.25%	-20.41%	-357.47%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	27.32%	0.00%	107.55%	102.01%	-279.97%	-320.05%	25.36%	-80.27%	-68.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-7.29%	-	-	-1.61%	-1.24%	-2.02%	-1.23%	-1.88%	-7.12%
Cost of Revenue to Revenue	66.34%	64.05%	79.10%	69.61%	65.33%	67.77%	67.37%	79.68%	73.61%	76.25%	60.10%
SG&A Expenses to Revenue	82.78%	69.34%	75.01%	63.30%	66.25%	55.48%	136.11%	42.94%	43.73%	49.16%	212.17%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.73%	112.79%	171.56%	68.80%	107.60%	64.10%	89.18%	45.82%	46.75%	52.90%	550.57%
Earnings before Interest and Taxes (EBIT)	-100	-175	-93	-90	-97	-84	-82	-30	-1.02	-45	-112
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-91	-165	-86	-82	-97	-78	-74	-23	5.46	-39	-106
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.66	0.00	1.08	0.70	0.40	0.63	0.66	0.71	0.72
Price to Tangible Book Value (P/TBV)	0.00	0.00	4.21	0.00	1.49	0.91	0.56	0.86	0.80	0.84	0.91
Price to Revenue (P/Rev)	2.81	1.91	3.58	2.26	0.00	0.00	0.72	1.15	1.74	1.88	1.76
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.97	0.00	1.06	0.78	0.38	0.62	0.47	0.51	0.57
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	3.41	0.00	0.00	0.00	0.66	1.09	0.79	0.80	0.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	1.49	0.00	0.00	0.00	0.00	0.00	1.21	0.90	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	1.49	0.00	1.09	0.75	0.64	0.60	0.31	0.30	0.33
Long-Term Debt to Equity	0.00	0.00	1.23	0.00	0.82	0.74	0.63	0.59	0.31	0.30	0.31
Financial Leverage	0.00	0.00	0.31	0.00	0.35	0.35	-0.08	-0.03	-0.06	-0.08	-0.22
Leverage Ratio	0.00	0.00	3.22	0.00	2.42	1.97	2.54	1.85	1.86	1.68	1.73
Compound Leverage Factor	0.00	0.00	3.22	0.00	2.42	1.97	2.54	1.85	1.86	1.68	1.73
Debt to Total Capital	0.00%	0.00%	59.85%	0.00%	52.08%	42.74%	38.85%	37.65%	23.67%	22.88%	25.07%
Short-Term Debt to Total Capital	0.00%	0.00%	10.42%	0.00%	12.97%	0.31%	0.54%	0.80%	0.19%	0.00%	1.74%
Long-Term Debt to Total Capital	0.00%	0.00%	49.44%	0.00%	39.11%	42.44%	38.31%	36.85%	23.47%	22.88%	23.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	40.13%	0.00%	47.92%	57.26%	61.15%	62.35%	76.33%	77.12%	74.93%
Debt to EBITDA	0.00	0.00	-1.31	0.00	0.00	0.00	-0.65	-0.66	-0.71	-0.85	-1.03
Net Debt to EBITDA	0.00	0.00	0.11	0.00	0.00	0.00	0.03	0.04	0.82	1.16	1.08
Long-Term Debt to EBITDA	0.00	0.00	-1.09	0.00	0.00	0.00	-0.65	-0.65	-0.70	-0.85	-0.96
Debt to NOPAT	0.00	0.00	-3.73	0.00	0.00	0.00	-3.71	-4.03	-4.26	-4.07	-2.06
Net Debt to NOPAT	0.00	0.00	0.32	0.00	0.00	0.00	0.17	0.22	4.94	5.54	2.16
Long-Term Debt to NOPAT	0.00	0.00	-3.08	0.00	0.00	0.00	-3.66	-3.95	-4.23	-4.07	-1.92
Altman Z-Score	0.00	0.00	-10.51	0.00	0.00	0.00	-16.21	-16.11	-12.81	-12.51	-13.03
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.15%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	1.11	0.00	1.39	3.52	2.86	3.07	5.50	5.34	3.34
Quick Ratio	0.00	0.00	0.76	0.00	0.97	2.34	1.79	1.96	4.01	4.11	2.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	822	675	567	526	-533	-566	-78	-359	163	211	-49
Operating Cash Flow to CapEx	0.00%	0.00%	-404.92%	0.00%	0.00%	-1,801.20%	-1,078.07%	-794.54%	-1,481.70%	-961.00%	-1,889.03%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.16	0.00	0.00	0.00	0.23	0.30	0.24	0.26	0.28
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	2.69	0.00	0.00	0.00	2.12	2.11	2.15	2.25	2.11
Fixed Asset Turnover	0.00	0.00	0.75	0.00	0.00	0.00	0.85	0.92	0.93	1.00	0.95
Accounts Payable Turnover	0.00	0.00	7.14	0.00	0.00	0.00	6.70	8.21	11.30	9.10	7.15
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	135.54	0.00	0.00	0.00	171.88	173.23	170.07	162.18	173.24
Days Payable Outstanding (DPO)	0.00	0.00	51.09	0.00	0.00	0.00	54.46	44.46	32.29	40.13	51.07
Cash Conversion Cycle (CCC)	0.00	0.00	84.45	0.00	0.00	0.00	117.41	128.77	137.78	122.05	122.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	252	0.00	510	554	323	347	338	329	325
Invested Capital Turnover	0.00	0.00	0.39	0.00	0.00	0.00	0.65	1.13	0.48	0.47	0.63
Increase / (Decrease) in Invested Capital	-825	-707	-620	-541	510	554	71	347	-171	-225	1.58
Enterprise Value (EV)	0.00	0.00	749	0.00	541	432	124	214	160	167	184
Market Capitalization	561	424	786	491	409	289	134	226	350	390	359
Book Value per Share	$0.00	$0.00	$3.25	$0.00	$4.45	$3.90	$2.26	$1.94	$2.20	$1.62	$1.32
Tangible Book Value per Share	$0.00	$0.00	$2.05	$0.00	$3.23	$3.02	$1.63	$1.42	$1.82	$1.35	$1.04
Total Capital	0.00	0.00	737	0.00	787	717	544	576	692	717	667
Total Debt	0.00	0.00	441	0.00	410	307	211	217	164	164	167
Total Long-Term Debt	0.00	0.00	364	0.00	308	304	209	212	163	164	156
Net Debt	0.00	0.00	-38	0.00	132	143	-9.59	-12	-190	-224	-175
Capital Expenditures (CapEx)	-49	-3.38	2.81	-0.74	0.00	0.77	2.15	0.96	0.86	1.34	0.66
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	-52	0.00	7.10	43	40	45	45	36	13
Debt-free Net Working Capital (DFNWC)	0.00	0.00	104	0.00	184	172	136	155	263	311	278
Net Working Capital (NWC)	0.00	0.00	27	0.00	82	169	133	150	262	311	266
Net Nonoperating Expense (NNE)	236	132	36	78	71	73	75	19	-7.31	32	64
Net Nonoperating Obligations (NNO)	0.00	0.00	-44	0.00	132	143	-9.59	-12	-190	-224	-175
Total Depreciation and Amortization (D&A)	8.97	9.82	7.55	8.06	0.00	6.19	8.01	7.10	6.48	6.71	5.85
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-23.66%	0.00%	0.00%	0.00%	21.53%	22.95%	22.37%	17.56%	6.16%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	47.27%	0.00%	0.00%	0.00%	72.78%	78.70%	130.48%	149.68%	136.07%
Net Working Capital to Revenue	0.00%	0.00%	12.29%	0.00%	0.00%	0.00%	71.20%	76.34%	129.83%	149.68%	130.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.21)	$0.00	($1.10)	($0.77)	($0.76)	($0.16)	($0.01)	($0.13)	($0.33)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	74.79M	0.00	86.83M	110.31M	107.55M	188.32M	274.03M	345.53M	298.04M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.21)	$0.00	($1.10)	($0.77)	($0.76)	($0.16)	($0.01)	($0.13)	($0.33)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	74.79M	0.00	86.83M	110.31M	107.55M	188.32M	274.03M	345.53M	298.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($1.21)	$0.00	$0.00	$0.00	($0.76)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	76.20M	0.00	105.36M	147.12M	185.19M	239.85M	342.20M	377.86M	422.15M
Normalized Net Operating Profit after Tax (NOPAT)	-18	-14	-19	-13	-10	-8.45	-12	-10	-7.23	-12	-16
Normalized NOPAT Margin	-34.38%	-23.37%	-37.88%	-23.03%	-22.11%	-16.27%	-72.43%	-15.83%	-12.14%	-17.79%	-120.59%
Pre Tax Income Margin	-194.47%	-294.70%	-183.17%	-162.30%	-208.36%	-162.62%	-478.63%	-46.46%	-1.72%	-68.88%	-840.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Canopy Growth’s recent financial statements show a business that is still losing money, but one that has meaningfully strengthened its cash position over the last year while also carrying a heavier debt load. Revenue has been fairly stable to slightly improved in the most recent quarters, but operating expenses and large non-operating costs continue to overwhelm gross profit. The result is persistent quarterly losses, although the company’s liquidity is better than it was a year ago.

Cash and equivalents improved materially year over year. Cash and equivalents rose to $270.8 million in Q3 2026 from $112.4 million in Q3 2025, giving Canopy more near-term financial flexibility.
Revenue has held up reasonably well in the last several quarters. Operating revenue was $65.9 million in Q3 2026 and $57.9 million in Q4 2026, compared with a range in the mid-$50 million to high-$60 million area over the past year.
Gross profit remained positive. The company continued to generate gross profit in each quarter shown, including $15.7 million in Q3 2026 and $5.3 million in Q4 2026.
Equity remains positive. Total common equity was $552.9 million in Q3 2026 and $528.5 million in Q2 2026, which suggests the balance sheet is still solvent on a book-value basis.
The company has been able to raise capital when needed. Common equity issuance was a consistent source of financing in several periods, including $174.0 million in Q2 2026 and $70.7 million in Q3 2026.
Operating cash flow remains negative, but the gap has narrowed in some periods. Q4 2026 operating cash flow was -$12.5 million, better than some prior quarters, though still negative overall.
Non-cash charges remain a major part of reported losses. Depreciation, amortization, and other non-cash adjustments repeatedly account for a large portion of the gap between net income and cash flow.
There is visible volatility in balance sheet composition. Long-term investments, intangible assets, and other noncurrent assets have shifted materially from quarter to quarter, which may reflect portfolio changes, acquisitions, or write-downs.
Profitability remains deeply negative. Canopy reported a net loss of $111.1 million in Q4 2026, after losses of $45.7 million in Q3 2026 and $1.2 million in Q2 2026.
Operating expenses continue to exceed gross profit by a wide margin. In Q4 2026, total operating expenses were $73.2 million versus gross profit of only $5.3 million, driving a large operating loss.

The biggest concern is that Canopy’s core business still does not produce enough gross profit to cover SG&A and other operating costs. Even when revenue is steady, the company posts large operating losses, and those losses are amplified by interest expense, debt service, and occasional impairment or special charges.

Debt is also a meaningful risk. Total liabilities were $253.8 million in Q3 2026 versus $397.7 million in Q3 2025, while long-term debt stood at $164.1 million in Q3 2026. In Q1 2026 and Q2 2026, long-term debt was even higher, showing that leverage remains an important part of the capital structure.

Bottom line: Canopy Growth looks better on liquidity than it did a year ago, but the income statement still shows a company that is far from sustainable profitability. Investors should watch for consistent gross margin improvement, lower operating expenses, and a real turn toward positive operating cash flow before getting too optimistic.

07/13/26 11:13 PM ETAI Generated. May Contain Errors.

Canopy Growth Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Canopy Growth's financial year ends in March. Their financial year 2026 ended on March 31, 2026.

Canopy Growth's net income appears to be on an upward trend, with a most recent value of -$188.42 million in 2026, rising from -$5.68 million in 2017. The previous period was -$353.90 million in 2025. View Canopy Growth's forecast to see where analysts expect Canopy Growth to go next.

Canopy Growth's total operating income in 2026 was -$115.86 million, based on the following breakdown:

Total Gross Profit: $49.93 million
Total Operating Expenses: $165.79 million

Over the last 9 years, Canopy Growth's total revenue changed from $29.95 million in 2017 to $203.97 million in 2026, a change of 581.1%.

Canopy Growth's total liabilities were at $301.83 million at the end of 2026, a 1.2% decrease from 2025, and a 538.3% increase since 2017.

In the past 9 years, Canopy Growth's cash and equivalents has ranged from $76.42 million in 2017 to $1.86 billion in 2019, and is currently $261.37 million as of their latest financial filing in 2026.

Over the last 9 years, Canopy Growth's book value per share changed from 4.04 in 2017 to 1.32 in 2026, a change of -67.2%.

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Financial statements for NASDAQ:CGC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Canopy Growth (CGC) Financials

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Canopy Growth (CGC) Financials

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