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Canopy Growth (CGC) Financials

Canopy Growth logo
$0.62 -0.03 (-4.41%)
Closing price 11/9/2026 04:00 PM Eastern
Extended Trading
$0.62 +0.00 (+0.35%)
As of 11/9/2026 07:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Canopy Growth

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

Quarterly Income Statements for Canopy Growth

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 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q2 2027
Period end date 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 9/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -164 -90 -93 -95 -85 -81 -33 -3.57 -46 -111 -29
Consolidated Net Income / (Loss)		 -164 -90 -93 -95 -85 -81 -33 -3.57 -46 -111 -29
Net Income / (Loss) Continuing Operations		 -174 -92 -94 -97 -85 -82 0.00 0.00 -46 -111 0.00
Total Pre-Tax Income 		-175 -93 -90 -97 -84 -82 -33 -3.42 -45 -112 -29
Total Operating Income		 -46 -77 -21 -34 -17 -9.65 -17 -12 -19 -68 -16
Total Gross Profit		 21 11 17 16 17 5.57 13 16 16 5.30 16
Total Revenue		 59 51 55 55 60 17 65 60 66 13 70
Operating Revenue		 68 58 55 55 60 48 65 60 66 58 70
Total Cost of Revenue		 38 40 39 39 43 11 52 44 50 7.99 54
Operating Cost of Revenue		 38 40 39 39 43 11 52 44 50 7.99 54
Total Operating Expenses		 67 87 38 50 33 15 30 28 35 73 33
Selling, General & Admin Expense		 41 38 35 31 29 23 28 26 32 28 28
Impairment Charge		 23 46 0.01 15 0.89 5.40 1.95 0.35 1.82 44 1.82
Other Special Charges / (Income)		 2.80 2.86 3.03 3.86 3.58 -13 -0.07 1.44 0.65 1.04 2.84
Total Other Income / (Expense), net		 -130 -17 -69 -63 -68 -72 -16 8.71 -26 -44 -13
Other Income / (Expense), net		 -130 -17 -69 -63 -68 -72 -16 8.71 -26 -44 -13
Income Tax Expense		 -0.82 -1.08 4.53 0.22 0.22 -0.00 0.21 0.15 0.27 -0.62 -0.56
Basic Earnings per Share		 ($1.98) ($1.21) ($1.17) ($1.10) ($0.77) ($0.76) ($0.18) ($0.01) ($0.13) ($0.33) ($0.07)
Weighted Average Basic Shares Outstanding		 82.92M 74.79M 79.24M 86.83M 110.31M 107.55M 188.32M 274.03M 345.53M 298.04M 423.11M
Diluted Earnings per Share		 ($1.98) ($1.21) ($1.17) ($1.10) ($0.77) ($0.76) ($0.18) ($0.01) ($0.13) ($0.33) ($0.07)
Weighted Average Diluted Shares Outstanding		 82.92M 74.79M 79.24M 86.83M 110.31M 107.55M 188.32M 274.03M 345.53M 298.04M 423.11M
Weighted Average Basic & Diluted Shares Outstanding		 - 76.20M - 105.36M 147.12M 185.19M 423.04M 342.20M 377.86M 422.15M 423.35M

Annual Cash Flow Statements for Canopy Growth

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

Quarterly Cash Flow Statements for Canopy Growth

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 0.00 -0.50 -46 -111
Consolidated Net Income / (Loss)		 -239 -171 -84 -93 -96 -73 -92 -33 -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 12 -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 0.00 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

Annual Balance Sheets for Canopy Growth

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
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
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
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 0.00
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

Quarterly Balance Sheets for Canopy Growth

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 Q2 2027
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 6/30/2026 9/30/2025 12/31/2025 9/30/2026
Total Assets		 1,233 1,030 940 912 808 777 768 807 744
Total Current Assets		 365 301 261 290 237 356 320 383 338
Cash & Equivalents		 178 108 140 169 112 237 214 271 174
Restricted Cash		 5.90 5.51 5.62 5.54 4.94 3.56 4.06 3.67 3.34
Short-Term Investments		 22 33 2.02 2.08 11 - 0.00 0.00 51
Note & Lease Receivable		 51 48 37 31 34 30 19 24 26
Inventories, net		 65 66 62 67 63 76 74 77 74
Prepaid Expenses		 17 18 14 16 11 10 9.24 7.45 9.83
Other Current Nonoperating Assets		 26 22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Plant, Property, & Equipment, net		 256 258 230 224 208 219 207 208 214
Total Noncurrent Assets		 612 471 448 398 364 202 241 216 192
Long-Term Investments		 - - 110 101 35 88 136 113 80
Goodwill		 62 65 32 33 31 39 35 35 39
Intangible Assets		 110 90 72 71 62 62 58 56 60
Other Noncurrent Operating Assets		 425 316 234 193 236 12 12 13 13
Other Noncurrent Nonoperating Assets		 15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Liabilities & Shareholders' Equity		 1,233 1,030 940 912 808 777 768 807 744
Total Liabilities		 679 617 551 535 398 292 240 254 287
Total Current Liabilities		 145 168 122 208 67 117 58 72 120
Short-Term Debt		 37 69 1.80 102 2.20 20 1.33 0.00 30
Accounts Payable		 17 20 19 14 20 20 13 15 21
Accrued Expenses		 38 38 37 32 26 33 28 32 29
Other Current Liabilities		 39 41 64 61 19 44 16 25 40
Total Noncurrent Liabilities		 534 450 429 327 330 175 181 182 167
Long-Term Debt		 466 394 408 308 304 149 163 164 143
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - 5.57 - - 4.61
Other Noncurrent Operating Liabilities		 66 55 21 19 26 21 19 18 19
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 554 413 389 377 411 485 528 553 458
Total Preferred & Common Equity		 554 412 389 377 411 0.00 0.00 0.00 0.00
Total Common Equity		 554 412 389 377 411 485 528 553 458
Common Stock		 7,976 8,179 8,047 8,224 7,853 8,325 8,396 8,595 8,325
Retained Earnings		 -7,404 -7,755 -7,642 -7,835 -7,436 -7,851 -7,878 -8,047 -7,877
Accumulated Other Comprehensive Income / (Loss)		 -18 -12 -16 -12 -6.25 11 10 4.80 9.80
Noncontrolling Interest		 0.10 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for Canopy Growth

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%

Quarterly Metrics And Ratios for Canopy Growth

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

Metric Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q2 2027
Period end date 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 9/30/2026
DEI Shares Outstanding		 829,083,667.00 91,114,604.00 76,197,615.00 - - 147,120,088.00 185,192,210.00 239,849,225.00 - 377,862,634.00 423,037,675.00
DEI Adjusted Shares Outstanding		 82,908,367.00 91,114,604.00 76,197,615.00 - - 147,120,088.00 185,192,210.00 239,849,225.00 - 377,862,634.00 423,037,675.00
DEI Earnings Per Adjusted Shares Outstanding		 -1.98 -0.99 -1.22 - - -0.55 -0.16 0.00 - -0.29 -0.07
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 25.19% 14.46% -9.33% -12.69% -66.51% 17.66% 8.87% 10.07% -22.08% 17.50%
EBITDA Growth		 -13.58% 73.20% 0.00% -6.72% 52.70% 14.11% 71.68% 106.11% 50.54% -43.70% -1,042.83%
EBIT Growth		 -3.92% 73.14% 0.00% 2.85% 51.82% 12.48% 66.32% 98.95% 46.22% -36.77% -753.64%
NOPAT Growth		 45.14% 78.64% 0.00% -556.84% 63.79% 87.43% 21.91% 64.33% -16.16% -603.69% -33.22%
Net Income Growth		 0.00% 79.28% 0.00% 60.43% 48.45% 9.75% 67.18% 98.76% 46.04% -36.49% -701.20%
EPS Growth		 24.26% 86.83% 0.00% 65.76% 61.16% 37.19% 86.19% 99.34% 82.97% 56.58% -388.89%
Operating Cash Flow Growth		 79.47% 94.72% 66.32% 0.00% 51.91% -103.83% 79.94% 68.42% 7.27% 46.06% 0.00%
Free Cash Flow Firm Growth		 -73.92% -69.70% -43.34% -164.91% -183.74% -113.74% -168.18% 130.48% 137.34% 36.94% -97.11%
Invested Capital Growth		 0.00% -71.11% 0.00% 0.00% 0.00% 28.21% 0.00% -33.57% -40.54% 0.49% -4.73%
Revenue Q/Q Growth		 15.65% -14.33% 8.71% 0.00% 11.36% -71.51% 0.00% -8.54% 10.62% -79.83% 0.00%
EBITDA Q/Q Growth		 -81.73% 48.15% -38.98% 0.00% 19.45% 5.85% 0.00% 123.55% -808.94% -173.54% 0.00%
EBIT Q/Q Growth		 -75.25% 46.75% -35.32% 0.00% 13.09% 3.27% 0.00% 96.62% -4,337.56% -146.02% 0.00%
NOPAT Q/Q Growth		 -782.51% -67.99% 72.28% 0.00% 51.35% 41.67% 0.00% 26.97% -58.42% -253.35% 0.00%
Net Income Q/Q Growth		 31.57% 45.08% -46.80% 0.00% 10.85% 3.85% 0.00% 96.14% -3,780.96% -143.22% 0.00%
EPS Q/Q Growth		 37.97% 39.03% -37.55% 0.00% 29.63% 1.40% 0.00% 95.54% -1,723.61% -151.33% 0.00%
Operating Cash Flow Q/Q Growth		 48.01% 60.64% -232.58% 0.00% 0.00% -66.84% 67.27% -67.89% -1.15% 2.95% 0.00%
Free Cash Flow Firm Q/Q Growth		 -17.80% -16.09% 6.78% 0.00% -6.05% 86.23% 0.00% 145.30% 29.90% -123.26% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% -100.00% 0.00% 8.73% -41.65% 0.00% -2.52% -2.69% -1.39% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 35.95% 20.90% 30.39% 34.67% 32.23% 32.63% 20.33% 26.39% 23.75% 39.90% 23.47%
EBITDA Margin		 -278.18% -168.35% -147.75% -208.36% -150.71% -431.70% -35.57% 9.16% -58.70% -796.10% -41.70%
Operating Margin		 -76.83% -150.66% -38.41% -72.94% -31.86% -56.55% -25.49% -20.35% -29.15% -510.68% -23.08%
EBIT Margin		 -294.70% -183.17% -162.30% -208.36% -162.62% -478.63% -46.46% -1.72% -68.88% -840.10% -41.70%
Profit (Net Income) Margin		 -276.16% -177.02% -167.77% -203.67% -163.05% -476.98% -46.79% -1.97% -69.28% -835.44% -40.90%
Tax Burden Percent		 93.71% 96.64% 103.37% 97.75% 100.26% 99.66% 100.71% 115.02% 100.59% 99.45% 98.07%
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% -41.16% 0.00% 0.00% 0.00% -25.74% -20.23% -6.78% -9.60% -225.03% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -68.48% 0.00% 0.00% 0.00% 254.23% 299.81% -32.14% 70.67% -156.22% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -21.30% 0.00% 0.00% 0.00% -21.56% -9.84% 2.05% -5.89% 34.65% 0.00%
Return on Equity (ROE)		 0.00% -62.46% 0.00% 0.00% 0.00% -47.30% -30.08% -4.73% -15.49% -190.37% 0.00%
Cash Return on Invested Capital (CROIC)		 0.00% 89.30% 0.00% 0.00% 0.00% -44.55% -230.97% 31.27% 41.72% -25.52% 0.00%
Operating Return on Assets (OROA)		 0.00% -29.09% 0.00% 0.00% 0.00% -112.02% -13.77% -0.41% -17.72% -238.00% 0.00%
Return on Assets (ROA)		 0.00% -28.11% 0.00% 0.00% 0.00% -111.64% -13.87% -0.47% -17.82% -236.68% 0.00%
Return on Common Equity (ROCE)		 0.00% -62.37% 0.00% 0.00% 0.00% -47.30% -30.08% -4.73% -15.49% -190.37% 0.00%
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)		 -32 -54 -15 -24 -12 -6.75 -12 -8.49 -13 -48 -11
NOPAT Margin		 -53.78% -105.46% -26.89% -51.06% -22.30% -39.59% -17.84% -14.25% -20.41% -357.47% -16.15%
Net Nonoperating Expense Percent (NNEP)		 0.00% 27.32% 0.00% 107.55% 102.01% -279.97% -320.05% 25.36% -80.27% -68.81% -10.66%
Return On Investment Capital (ROIC_SIMPLE)		 - -7.29% - - -1.61% -1.24% -2.02% -1.23% -1.88% -7.12% -1.79%
Cost of Revenue to Revenue		 64.05% 79.10% 69.61% 65.33% 67.77% 67.37% 79.68% 73.61% 76.25% 60.10% 76.53%
SG&A Expenses to Revenue		 69.34% 75.01% 63.30% 66.25% 55.48% 136.11% 42.94% 43.73% 49.16% 212.17% 39.89%
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		 112.79% 171.56% 68.80% 107.60% 64.10% 89.18% 45.82% 46.75% 52.90% 550.57% 46.55%
Earnings before Interest and Taxes (EBIT)		 -175 -93 -90 -97 -84 -82 -30 -1.02 -45 -112 -29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -165 -86 -82 -97 -78 -74 -23 5.46 -39 -106 -29
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 2.66 0.00 1.08 0.70 0.40 0.63 0.66 0.71 0.72 0.83
Price to Tangible Book Value (P/TBV)		 0.00 4.21 0.00 1.49 0.91 0.56 0.86 0.80 0.84 0.91 1.06
Price to Revenue (P/Rev)		 1.91 3.58 2.26 0.00 0.00 0.72 1.15 1.74 1.88 1.76 0.00
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 2.97 0.00 1.06 0.78 0.38 0.62 0.47 0.51 0.57 0.76
Enterprise Value to Revenue (EV/Rev)		 0.00 3.41 0.00 0.00 0.00 0.66 1.09 0.79 0.80 0.90 0.00
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 1.49 0.00 0.00 0.00 0.00 0.00 1.21 0.90 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 1.49 0.00 1.09 0.75 0.64 0.60 0.31 0.30 0.33 0.38
Long-Term Debt to Equity		 0.00 1.23 0.00 0.82 0.74 0.63 0.59 0.31 0.30 0.31 0.31
Financial Leverage		 0.00 0.31 0.00 0.35 0.35 -0.08 -0.03 -0.06 -0.08 -0.22 -0.33
Leverage Ratio		 0.00 3.22 0.00 2.42 1.97 2.54 1.85 1.86 1.68 1.73 1.53
Compound Leverage Factor		 0.00 3.22 0.00 2.42 1.97 2.54 1.85 1.86 1.68 1.73 1.53
Debt to Total Capital		 0.00% 59.85% 0.00% 52.08% 42.74% 38.85% 37.65% 23.67% 22.88% 25.07% 27.43%
Short-Term Debt to Total Capital		 0.00% 10.42% 0.00% 12.97% 0.31% 0.54% 0.80% 0.19% 0.00% 1.74% 4.81%
Long-Term Debt to Total Capital		 0.00% 49.44% 0.00% 39.11% 42.44% 38.31% 36.85% 23.47% 22.88% 23.32% 22.62%
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% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 40.13% 0.00% 47.92% 57.26% 61.15% 62.35% 76.33% 77.12% 74.93% 72.57%
Debt to EBITDA		 0.00 -1.31 0.00 0.00 0.00 -0.65 -0.66 -0.71 -0.85 -1.03 0.00
Net Debt to EBITDA		 0.00 0.11 0.00 0.00 0.00 0.03 0.04 0.82 1.16 1.08 0.00
Long-Term Debt to EBITDA		 0.00 -1.09 0.00 0.00 0.00 -0.65 -0.65 -0.70 -0.85 -0.96 0.00
Debt to NOPAT		 0.00 -3.73 0.00 0.00 0.00 -3.71 -4.03 -4.26 -4.07 -2.06 0.00
Net Debt to NOPAT		 0.00 0.32 0.00 0.00 0.00 0.17 0.22 4.94 5.54 2.16 0.00
Long-Term Debt to NOPAT		 0.00 -3.08 0.00 0.00 0.00 -3.66 -3.95 -4.23 -4.07 -1.92 0.00
Altman Z-Score		 0.00 -10.51 0.00 0.00 0.00 -16.21 -16.11 -12.81 -12.51 -13.03 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.15% 0.00% 0.00% 0.00% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 1.11 0.00 1.39 3.52 2.86 3.07 5.50 5.34 3.34 2.82
Quick Ratio		 0.00 0.76 0.00 0.97 2.34 1.79 1.96 4.01 4.11 2.53 2.09
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 675 567 526 -533 -566 -78 -359 163 211 -49 4.69
Operating Cash Flow to CapEx		 0.00% -404.92% 0.00% 0.00% -1,801.20% -1,078.07% -794.54% -1,481.70% -961.00% -1,889.03% 0.00%
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 0.16 0.00 0.00 0.00 0.23 0.30 0.24 0.26 0.28 0.00
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 2.69 0.00 0.00 0.00 2.12 2.11 2.15 2.25 2.11 0.00
Fixed Asset Turnover		 0.00 0.75 0.00 0.00 0.00 0.85 0.92 0.93 1.00 0.95 0.00
Accounts Payable Turnover		 0.00 7.14 0.00 0.00 0.00 6.70 8.21 11.30 9.10 7.15 0.00
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)		 0.00 135.54 0.00 0.00 0.00 171.88 173.23 170.07 162.18 173.24 0.00
Days Payable Outstanding (DPO)		 0.00 51.09 0.00 0.00 0.00 54.46 44.46 32.29 40.13 51.07 0.00
Cash Conversion Cycle (CCC)		 0.00 84.45 0.00 0.00 0.00 117.41 128.77 137.78 122.05 122.18 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 252 0.00 510 554 323 347 338 329 325 322
Invested Capital Turnover		 0.00 0.39 0.00 0.00 0.00 0.65 1.13 0.48 0.47 0.63 0.00
Increase / (Decrease) in Invested Capital		 -707 -620 -541 510 554 71 347 -171 -225 1.58 -16
Enterprise Value (EV)		 0.00 749 0.00 541 432 124 214 160 167 184 244
Market Capitalization		 424 786 491 409 289 134 226 350 390 359 379
Book Value per Share		 $0.00 $3.25 $0.00 $4.45 $3.90 $2.26 $1.94 $2.20 $1.62 $1.32 $1.08
Tangible Book Value per Share		 $0.00 $2.05 $0.00 $3.23 $3.02 $1.63 $1.42 $1.82 $1.35 $1.04 $0.85
Total Capital		 0.00 737 0.00 787 717 544 576 692 717 667 631
Total Debt		 0.00 441 0.00 410 307 211 217 164 164 167 173
Total Long-Term Debt		 0.00 364 0.00 308 304 209 212 163 164 156 143
Net Debt		 0.00 -38 0.00 132 143 -9.59 -12 -190 -224 -175 -135
Capital Expenditures (CapEx)		 -3.38 2.81 -0.74 0.00 0.77 2.15 0.96 0.86 1.34 0.66 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -52 0.00 7.10 43 40 45 45 36 13 20
Debt-free Net Working Capital (DFNWC)		 0.00 104 0.00 184 172 136 155 263 311 278 249
Net Working Capital (NWC)		 0.00 27 0.00 82 169 133 150 262 311 266 218
Net Nonoperating Expense (NNE)		 132 36 78 71 73 75 19 -7.31 32 64 17
Net Nonoperating Obligations (NNO)		 0.00 -44 0.00 132 143 -9.59 -12 -190 -224 -175 -135
Total Depreciation and Amortization (D&A)		 9.82 7.55 8.06 0.00 6.19 8.01 7.10 6.48 6.71 5.85 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -23.66% 0.00% 0.00% 0.00% 21.53% 22.95% 22.37% 17.56% 6.16% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 47.27% 0.00% 0.00% 0.00% 72.78% 78.70% 130.48% 149.68% 136.07% 0.00%
Net Working Capital to Revenue		 0.00% 12.29% 0.00% 0.00% 0.00% 71.20% 76.34% 129.83% 149.68% 130.37% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.21) $0.00 ($1.10) ($0.77) ($0.76) ($0.16) ($0.01) ($0.13) ($0.33) ($0.07)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 74.79M 0.00 86.83M 110.31M 107.55M 188.32M 274.03M 345.53M 298.04M 423.11M
Adjusted Diluted Earnings per Share		 $0.00 ($1.21) $0.00 ($1.10) ($0.77) ($0.76) ($0.16) ($0.01) ($0.13) ($0.33) ($0.07)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 74.79M 0.00 86.83M 110.31M 107.55M 188.32M 274.03M 345.53M 298.04M 423.11M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($1.21) $0.00 $0.00 $0.00 ($0.76) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 76.20M 0.00 105.36M 147.12M 185.19M 239.85M 342.20M 377.86M 422.15M 423.35M
Normalized Net Operating Profit after Tax (NOPAT)		 -14 -19 -13 -10 -8.45 -12 -10 -7.23 -12 -16 -8.05
Normalized NOPAT Margin		 -23.37% -37.88% -23.03% -22.11% -16.27% -72.43% -15.83% -12.14% -17.79% -120.59% -11.49%
Pre Tax Income Margin		 -294.70% -183.17% -162.30% -208.36% -162.62% -478.63% -46.46% -1.72% -68.88% -840.10% -41.70%
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 financial profile remains mixed. Revenue from operations generally improved from roughly $48 million in Q4 fiscal 2025 to about $58 million in Q4 fiscal 2026, with quarterly operating revenue reaching approximately $66 million in Q3 fiscal 2026. However, the company continues to report substantial net losses, and the latest quarter included a large impairment charge that pushed the net loss above $111 million.

  • Operating revenue has shown improvement. Reported operating revenue increased from $48.3 million in Q4 fiscal 2025 to $65.9 million in Q3 fiscal 2026 before moderating to $57.9 million in Q4 fiscal 2026.
  • Operating cash burn has moderated compared with earlier periods. Quarterly cash flow from operating activities improved from a negative $55.6 million in Q2 fiscal 2024 and negative $40.3 million in Q2 fiscal 2025 to approximately negative $12.5 million in Q4 fiscal 2026.
  • Liquidity has strengthened. Cash and equivalents increased from $108.1 million at the end of calendar 2023 to $270.8 million at December 31, 2025. The company also held approximately $113.1 million in long-term investments at the latest reported balance-sheet date.
  • Debt has declined substantially over the longer term. Total reported debt fell from roughly $471 million at September 30, 2024 to approximately $164 million of long-term debt at December 31, 2025, although financing activity became more volatile in the latest quarter.
  • Gross margins remain inconsistent. Gross profit margins were approximately 20% in Q1 fiscal 2026, 26% in Q2, and 24% in Q3. The Q4 data contains a significant inconsistency between operating revenue of $57.9 million and total revenue of only $13.3 million, making the reported Q4 margin difficult to interpret.
  • Cash generation still depends heavily on financing. Canopy Growth raised approximately $174.0 million through common equity issuance in Q2 fiscal 2026 and generated a net $29.8 million from financing activities in Q4, helping offset ongoing operating cash losses.
  • Profitability has not been achieved. The company reported net losses in each of the latest comparable quarters: $32.9 million in Q1 fiscal 2026, $1.2 million in Q2, $45.7 million in Q3, and $111.1 million in Q4.
  • Impairment charges continue to distort and weaken results. Q4 fiscal 2026 included a $44.0 million impairment charge, following additional impairment charges in prior quarters. These charges indicate continued pressure on the value or performance of certain assets.
  • Interest and other expenses remain a significant burden. Q4 fiscal 2026 recorded approximately $43.8 million of net other expense, while the company paid $2.8 million of cash interest during the quarter. Financing costs continue to weigh on earnings and cash flow.
  • Shareholder dilution is a major risk. Weighted-average basic shares increased from approximately 79 million in Q1 fiscal 2025 to 298 million in Q4 fiscal 2026, with substantial equity issuance used to fund operations and strengthen liquidity.

Overall, Canopy Growth has improved its liquidity and reduced debt compared with 2023 and 2024, while operating cash losses have become more manageable. Nevertheless, persistent net losses, recurring impairments, reliance on equity financing, and substantial share dilution remain important risks. Investors should also treat the latest Q4 revenue and margin figures cautiously because the supplied statement includes conflicting revenue classifications.

11/10/26 01:22 AM 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 fiscal year ends in March. Their fiscal year 2026 ended on March 31, 2026.

Canopy Growth's net income appears to be on a downward trend, with a most recent value of -$188.42 million in 2026, falling from -$5.68 million in 2017. The previous period was -$353.90 million in 2025. Find out what analysts predict for Canopy Growth in the coming months.

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%.

In the past 12 quarters, Canopy Growth's cash and equivalents has ranged from $108.12 million in Q3 2024 to $270.80 million in Q3 2026, and is currently $174.06 million as of their latest financial filing in Q2 2027.

Canopy Growth had total debt of $167.25 million at the end of 2026, a 20.9% decrease from 2025, and a 2,056.8% increase since 2017.

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 11/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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