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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) and Canopy Growth Corp (CGC). Click either name above to swap in a different company.
CBAK Energy Technology, Inc. is the larger business by last-quarter revenue ($58.8M vs $54.4M, roughly 1.1× Canopy Growth Corp). CBAK Energy Technology, Inc. runs the higher net margin — -12.5% vs -84.0%, a 71.5% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs -0.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -0.0%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
CBAT vs CGC — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $54.4M |
| Net Profit | $-7.4M | $-45.7M |
| Gross Margin | 7.3% | 28.8% |
| Operating Margin | -13.6% | -35.3% |
| Net Margin | -12.5% | -84.0% |
| Revenue YoY | 131.8% | -0.3% |
| Net Profit YoY | -63.6% | 48.6% |
| EPS (diluted) | $-0.08 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $58.8M | $54.4M | ||
| Q3 25 | $60.9M | $48.7M | ||
| Q2 25 | $40.5M | $52.7M | ||
| Q1 25 | $34.9M | $47.5M | ||
| Q4 24 | $25.4M | $54.6M | ||
| Q3 24 | $44.6M | $46.0M | ||
| Q2 24 | $47.8M | $48.3M | ||
| Q1 24 | $58.8M | $53.1M |
| Q4 25 | $-7.4M | $-45.7M | ||
| Q3 25 | $2.7M | $-1.2M | ||
| Q2 25 | $-3.1M | $-30.3M | ||
| Q1 25 | $-1.6M | — | ||
| Q4 24 | $-4.5M | $-89.0M | ||
| Q3 24 | $17.6K | $-93.7M | ||
| Q2 24 | $6.4M | $-92.8M | ||
| Q1 24 | $9.8M | — |
| Q4 25 | 7.3% | 28.8% | ||
| Q3 25 | 8.0% | 32.8% | ||
| Q2 25 | 11.0% | 25.0% | ||
| Q1 25 | 13.7% | 16.2% | ||
| Q4 24 | 13.1% | 32.2% | ||
| Q3 24 | 15.6% | 34.7% | ||
| Q2 24 | 26.6% | 34.8% | ||
| Q1 24 | 31.9% | 21.3% |
| Q4 25 | -13.6% | -35.3% | ||
| Q3 25 | -6.6% | -25.3% | ||
| Q2 25 | -8.7% | -31.4% | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | -26.0% | -31.9% | ||
| Q3 24 | -1.9% | -72.9% | ||
| Q2 24 | 12.4% | -44.0% | ||
| Q1 24 | 17.4% | — |
| Q4 25 | -12.5% | -84.0% | ||
| Q3 25 | 4.4% | -2.5% | ||
| Q2 25 | -7.6% | -57.6% | ||
| Q1 25 | -4.5% | — | ||
| Q4 24 | -17.8% | -163.0% | ||
| Q3 24 | 0.0% | -203.7% | ||
| Q2 24 | 13.5% | -192.0% | ||
| Q1 24 | 16.7% | — |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $-0.02 | — | ||
| Q4 24 | $-0.05 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $0.11 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.3M | $271.1M |
| Total DebtLower is stronger | $4.1M | — |
| Stockholders' EquityBook value | $112.7M | $553.5M |
| Total Assets | $426.2M | $807.5M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $271.1M | ||
| Q3 25 | $10.5M | $217.6M | ||
| Q2 25 | $45.7M | $104.8M | ||
| Q1 25 | $9.6M | $96.0M | ||
| Q4 24 | $11.0M | $130.2M | ||
| Q3 24 | $24.2M | $168.8M | ||
| Q2 24 | $44.1M | $142.3M | ||
| Q1 24 | $23.8M | $148.5M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $112.7M | $553.5M | ||
| Q3 25 | $121.4M | $537.3M | ||
| Q2 25 | $118.2M | $357.0M | ||
| Q1 25 | $120.8M | $355.7M | ||
| Q4 24 | $121.7M | $431.8M | ||
| Q3 24 | $131.2M | $372.1M | ||
| Q2 24 | $126.6M | $389.0M | ||
| Q1 24 | $120.9M | $365.3M |
| Q4 25 | $426.2M | $807.5M | ||
| Q3 25 | $363.9M | $781.0M | ||
| Q2 25 | $333.1M | $660.4M | ||
| Q1 25 | $311.5M | $669.9M | ||
| Q4 24 | $302.2M | $849.9M | ||
| Q3 24 | $293.5M | $899.6M | ||
| Q2 24 | $279.6M | $938.9M | ||
| Q1 24 | $286.5M | $949.2M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $29.8M | — |
| Free Cash FlowOCF − Capex | $16.1M | — |
| FCF MarginFCF / Revenue | 27.3% | — |
| Capex IntensityCapex / Revenue | 23.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | — | ||
| Q3 25 | $14.6M | — | ||
| Q2 25 | $13.8M | $-7.5M | ||
| Q1 25 | $-9.6M | $-121.0M | ||
| Q4 24 | $9.6M | — | ||
| Q3 24 | $19.7M | — | ||
| Q2 24 | $2.9M | $-37.8M | ||
| Q1 24 | $7.4M | $-205.8M |
| Q4 25 | $16.1M | — | ||
| Q3 25 | $6.0M | — | ||
| Q2 25 | $4.1M | $-8.5M | ||
| Q1 25 | $-22.3M | $-128.9M | ||
| Q4 24 | $3.9M | — | ||
| Q3 24 | $16.5M | — | ||
| Q2 24 | $2.5M | $-40.7M | ||
| Q1 24 | $-454.0K | $-208.3M |
| Q4 25 | 27.3% | — | ||
| Q3 25 | 9.9% | — | ||
| Q2 25 | 10.2% | -16.1% | ||
| Q1 25 | -63.9% | -271.5% | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | 37.1% | — | ||
| Q2 24 | 5.2% | -84.1% | ||
| Q1 24 | -0.8% | -392.1% |
| Q4 25 | 23.4% | — | ||
| Q3 25 | 14.1% | — | ||
| Q2 25 | 23.8% | 1.8% | ||
| Q1 25 | 36.3% | 16.6% | ||
| Q4 24 | 22.5% | — | ||
| Q3 24 | 7.0% | — | ||
| Q2 24 | 0.9% | 5.9% | ||
| Q1 24 | 13.4% | 4.7% |
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | 0.76× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
CGC
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
