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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Cronos Group Inc. (CRON). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $44.5M, roughly 1.2× Cronos Group Inc.). Cronos Group Inc. runs the higher net margin — -4.1% vs -84.0%, a 79.9% gap on every dollar of revenue. On growth, Cronos Group Inc. posted the faster year-over-year revenue change (47.0% vs -0.3%). Over the past eight quarters, Cronos Group Inc.'s revenue compounded faster (32.7% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Cronos Group Inc. is a global cannabinoid firm specializing in cultivation, processing, and distribution of cannabis-derived products including wellness supplements, consumer goods, and medical cannabis. It serves North America, Europe, and Asia Pacific, catering to regulated recreational and medical consumer segments with quality-controlled offerings.
CGC vs CRON — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $44.5M |
| Net Profit | $-45.7M | $-1.8M |
| Gross Margin | 28.8% | 36.4% |
| Operating Margin | -35.3% | -16.8% |
| Net Margin | -84.0% | -4.1% |
| Revenue YoY | -0.3% | 47.0% |
| Net Profit YoY | 48.6% | -104.2% |
| EPS (diluted) | — | $-0.01 |
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 | $44.5M | ||
| Q3 25 | $48.7M | $36.3M | ||
| Q2 25 | $52.7M | $33.5M | ||
| Q1 25 | $47.5M | $32.3M | ||
| Q4 24 | $54.6M | $30.3M | ||
| Q3 24 | $46.0M | $34.3M | ||
| Q2 24 | $48.3M | $27.8M | ||
| Q1 24 | $53.1M | $25.3M |
| Q4 25 | $-45.7M | $-1.8M | ||
| Q3 25 | $-1.2M | $26.0M | ||
| Q2 25 | $-30.3M | $-39.7M | ||
| Q1 25 | — | $6.1M | ||
| Q4 24 | $-89.0M | $43.7M | ||
| Q3 24 | $-93.7M | $8.3M | ||
| Q2 24 | $-92.8M | $-8.8M | ||
| Q1 24 | — | $-2.2M |
| Q4 25 | 28.8% | 36.4% | ||
| Q3 25 | 32.8% | 50.4% | ||
| Q2 25 | 25.0% | 43.4% | ||
| Q1 25 | 16.2% | 42.6% | ||
| Q4 24 | 32.2% | 35.7% | ||
| Q3 24 | 34.7% | 10.5% | ||
| Q2 24 | 34.8% | 22.7% | ||
| Q1 24 | 21.3% | 17.7% |
| Q4 25 | -35.3% | -16.8% | ||
| Q3 25 | -25.3% | -1.4% | ||
| Q2 25 | -31.4% | -15.9% | ||
| Q1 25 | — | -12.6% | ||
| Q4 24 | -31.9% | -37.5% | ||
| Q3 24 | -72.9% | -98.2% | ||
| Q2 24 | -44.0% | -56.1% | ||
| Q1 24 | — | -63.1% |
| Q4 25 | -84.0% | -4.1% | ||
| Q3 25 | -2.5% | 71.4% | ||
| Q2 25 | -57.6% | -118.7% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | -163.0% | 144.3% | ||
| Q3 24 | -203.7% | 24.4% | ||
| Q2 24 | -192.0% | -31.5% | ||
| Q1 24 | — | -8.9% |
| Q4 25 | — | $-0.01 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $-0.10 | ||
| Q1 25 | — | $0.02 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.02 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.01 |
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 | $831.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $1.1B |
| Total Assets | $807.5M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $831.8M | ||
| Q3 25 | $217.6M | $824.2M | ||
| Q2 25 | $104.8M | $834.4M | ||
| Q1 25 | $96.0M | $837.8M | ||
| Q4 24 | $130.2M | $858.8M | ||
| Q3 24 | $168.8M | $862.0M | ||
| Q2 24 | $142.3M | $848.2M | ||
| Q1 24 | $148.5M | $855.1M |
| Q4 25 | $553.5M | $1.1B | ||
| Q3 25 | $537.3M | $1.1B | ||
| Q2 25 | $357.0M | $1.1B | ||
| Q1 25 | $355.7M | $1.1B | ||
| Q4 24 | $431.8M | $1.1B | ||
| Q3 24 | $372.1M | $1.1B | ||
| Q2 24 | $389.0M | $1.1B | ||
| Q1 24 | $365.3M | $1.1B |
| Q4 25 | $807.5M | $1.2B | ||
| Q3 25 | $781.0M | $1.2B | ||
| Q2 25 | $660.4M | $1.2B | ||
| Q1 25 | $669.9M | $1.2B | ||
| Q4 24 | $849.9M | $1.2B | ||
| Q3 24 | $899.6M | $1.2B | ||
| Q2 24 | $938.9M | $1.1B | ||
| Q1 24 | $949.2M | $1.1B |
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 | — | $11.8M |
| Free Cash FlowOCF − Capex | — | $9.7M |
| FCF MarginFCF / Revenue | — | 21.8% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $149.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $11.8M | ||
| Q3 25 | — | $13.3M | ||
| Q2 25 | $-7.5M | $2.8M | ||
| Q1 25 | $-121.0M | $-2.1M | ||
| Q4 24 | — | $7.7M | ||
| Q3 24 | — | $11.6M | ||
| Q2 24 | $-37.8M | $1.7M | ||
| Q1 24 | $-205.8M | $-2.2M |
| Q4 25 | — | $9.7M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | $-8.5M | $-1.0M | ||
| Q1 25 | $-128.9M | $-17.4M | ||
| Q4 24 | — | $4.2M | ||
| Q3 24 | — | $5.2M | ||
| Q2 24 | $-40.7M | $1.0M | ||
| Q1 24 | $-208.3M | $-3.9M |
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | -16.1% | -3.0% | ||
| Q1 25 | -271.5% | -53.8% | ||
| Q4 24 | — | 13.8% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | -84.1% | 3.7% | ||
| Q1 24 | -392.1% | -15.5% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 12.3% | ||
| Q2 25 | 1.8% | 11.5% | ||
| Q1 25 | 16.6% | 47.3% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 18.7% | ||
| Q2 24 | 5.9% | 2.6% | ||
| Q1 24 | 4.7% | 6.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.34× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGC
| CA | $45.4M | 84% |
| International Markets Cannabis | $6.2M | 11% |
| Other | $1.5M | 3% |
| Other Geographical Area | $1.2M | 2% |
CRON
| Cannabis Flower | $33.7M | 76% |
| Cannabis Extracts | $10.8M | 24% |
