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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Claros Mortgage Trust, Inc. (CMTG). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $46.7M, roughly 1.2× Claros Mortgage Trust, Inc.). Canopy Growth Corp runs the higher net margin — -84.0% vs -468.9%, a 384.9% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -22.4%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -10.9%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
CGC vs CMTG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $46.7M |
| Net Profit | $-45.7M | $-219.2M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | — |
| Net Margin | -84.0% | -468.9% |
| Revenue YoY | -0.3% | -22.4% |
| Net Profit YoY | 48.6% | -117.7% |
| EPS (diluted) | — | $-1.56 |
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 | $54.4M | $46.7M | ||
| Q3 25 | $48.7M | $46.1M | ||
| Q2 25 | $52.7M | $51.6M | ||
| Q1 25 | $47.5M | $43.4M | ||
| Q4 24 | $54.6M | $60.2M | ||
| Q3 24 | $46.0M | $64.9M | ||
| Q2 24 | $48.3M | $64.5M | ||
| Q1 24 | $53.1M | $58.8M |
| Q4 25 | $-45.7M | $-219.2M | ||
| Q3 25 | $-1.2M | $-9.5M | ||
| Q2 25 | $-30.3M | $-181.7M | ||
| Q1 25 | — | $-78.6M | ||
| Q4 24 | $-89.0M | $-100.7M | ||
| Q3 24 | $-93.7M | $-56.2M | ||
| Q2 24 | $-92.8M | $-11.6M | ||
| Q1 24 | — | $-52.8M |
| Q4 25 | 28.8% | — | ||
| Q3 25 | 32.8% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 34.8% | — | ||
| Q1 24 | 21.3% | — |
| Q4 25 | -35.3% | — | ||
| Q3 25 | -25.3% | — | ||
| Q2 25 | -31.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -31.9% | — | ||
| Q3 24 | -72.9% | — | ||
| Q2 24 | -44.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | -84.0% | -468.9% | ||
| Q3 25 | -2.5% | -20.7% | ||
| Q2 25 | -57.6% | -351.9% | ||
| Q1 25 | — | -181.3% | ||
| Q4 24 | -163.0% | -167.2% | ||
| Q3 24 | -203.7% | -86.7% | ||
| Q2 24 | -192.0% | -17.9% | ||
| Q1 24 | — | -89.7% |
| Q4 25 | — | $-1.56 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | — | $-1.30 | ||
| Q1 25 | — | $-0.56 | ||
| Q4 24 | — | $-0.72 | ||
| Q3 24 | — | $-0.40 | ||
| Q2 24 | — | $-0.09 | ||
| Q1 24 | — | $-0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $271.1M | $173.2M |
| Total DebtLower is stronger | — | $3.2B |
| Stockholders' EquityBook value | $553.5M | $1.5B |
| Total Assets | $807.5M | $4.7B |
| Debt / EquityLower = less leverage | — | 2.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $173.2M | ||
| Q3 25 | $217.6M | $339.5M | ||
| Q2 25 | $104.8M | $209.2M | ||
| Q1 25 | $96.0M | $127.8M | ||
| Q4 24 | $130.2M | $99.1M | ||
| Q3 24 | $168.8M | $113.9M | ||
| Q2 24 | $142.3M | $148.2M | ||
| Q1 24 | $148.5M | $232.5M |
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $4.9B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | $553.5M | $1.5B | ||
| Q3 25 | $537.3M | $1.7B | ||
| Q2 25 | $357.0M | $1.8B | ||
| Q1 25 | $355.7M | $1.9B | ||
| Q4 24 | $431.8M | $2.0B | ||
| Q3 24 | $372.1M | $2.1B | ||
| Q2 24 | $389.0M | $2.2B | ||
| Q1 24 | $365.3M | $2.2B |
| Q4 25 | $807.5M | $4.7B | ||
| Q3 25 | $781.0M | $5.4B | ||
| Q2 25 | $660.4M | $5.8B | ||
| Q1 25 | $669.9M | $6.7B | ||
| Q4 24 | $849.9M | $7.0B | ||
| Q3 24 | $899.6M | $7.3B | ||
| Q2 24 | $938.9M | $7.6B | ||
| Q1 24 | $949.2M | $7.8B |
| Q4 25 | — | 2.06× | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | 2.29× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.44× | ||
| Q2 24 | — | 2.46× | ||
| Q1 24 | — | 2.47× |
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 | — | $-30.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-30.5M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | $-7.5M | $-5.8M | ||
| Q1 25 | $-121.0M | $-35.8M | ||
| Q4 24 | — | $84.5M | ||
| Q3 24 | — | $39.2M | ||
| Q2 24 | $-37.8M | $5.5M | ||
| Q1 24 | $-205.8M | $21.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-8.5M | — | ||
| Q1 25 | $-128.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-40.7M | — | ||
| Q1 24 | $-208.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -16.1% | — | ||
| Q1 25 | -271.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -84.1% | — | ||
| Q1 24 | -392.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.9% | — | ||
| Q1 24 | 4.7% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGC
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
