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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Ellington Financial Inc. (EFC). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $54.4M, roughly 1.4× Canopy Growth Corp). Ellington Financial Inc. runs the higher net margin — 28.9% vs -84.0%, a 112.9% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs -0.3%). Over the past eight quarters, Ellington Financial Inc.'s revenue compounded faster (1.8% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
CGC vs EFC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $78.2M |
| Net Profit | $-45.7M | $22.6M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 7.4% |
| Net Margin | -84.0% | 28.9% |
| Revenue YoY | -0.3% | 8.7% |
| Net Profit YoY | 48.6% | -26.2% |
| EPS (diluted) | — | $0.10 |
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 | $78.2M | ||
| Q3 25 | $48.7M | $82.8M | ||
| Q2 25 | $52.7M | $92.5M | ||
| Q1 25 | $47.5M | $82.9M | ||
| Q4 24 | $54.6M | $72.0M | ||
| Q3 24 | $46.0M | $67.0M | ||
| Q2 24 | $48.3M | $91.2M | ||
| Q1 24 | $53.1M | $75.5M |
| Q4 25 | $-45.7M | $22.6M | ||
| Q3 25 | $-1.2M | $29.5M | ||
| Q2 25 | $-30.3M | $42.9M | ||
| Q1 25 | — | $31.6M | ||
| Q4 24 | $-89.0M | $30.7M | ||
| Q3 24 | $-93.7M | $16.2M | ||
| Q2 24 | $-92.8M | $52.3M | ||
| Q1 24 | — | $26.9M |
| 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% | 7.4% | ||
| Q3 25 | -25.3% | 31.1% | ||
| Q2 25 | -31.4% | 38.3% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | -31.9% | 28.0% | ||
| Q3 24 | -72.9% | 24.0% | ||
| Q2 24 | -44.0% | 52.8% | ||
| Q1 24 | — | 42.2% |
| Q4 25 | -84.0% | 28.9% | ||
| Q3 25 | -2.5% | 35.7% | ||
| Q2 25 | -57.6% | 46.4% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | -163.0% | 42.6% | ||
| Q3 24 | -203.7% | 24.1% | ||
| Q2 24 | -192.0% | 57.4% | ||
| Q1 24 | — | 35.6% |
| Q4 25 | — | $0.10 | ||
| Q3 25 | — | $0.29 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.35 | ||
| Q4 24 | — | $0.23 | ||
| Q3 24 | — | $0.19 | ||
| Q2 24 | — | $0.62 | ||
| Q1 24 | — | $0.32 |
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 | $201.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $1.8B |
| Total Assets | $807.5M | $19.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $201.9M | ||
| Q3 25 | $217.6M | $184.8M | ||
| Q2 25 | $104.8M | $211.0M | ||
| Q1 25 | $96.0M | $203.3M | ||
| Q4 24 | $130.2M | $192.4M | ||
| Q3 24 | $168.8M | $217.7M | ||
| Q2 24 | $142.3M | $198.5M | ||
| Q1 24 | $148.5M | $187.5M |
| Q4 25 | $553.5M | $1.8B | ||
| Q3 25 | $537.3M | $1.8B | ||
| Q2 25 | $357.0M | $1.7B | ||
| Q1 25 | $355.7M | $1.6B | ||
| Q4 24 | $431.8M | $1.6B | ||
| Q3 24 | $372.1M | $1.6B | ||
| Q2 24 | $389.0M | $1.6B | ||
| Q1 24 | $365.3M | $1.5B |
| Q4 25 | $807.5M | $19.4B | ||
| Q3 25 | $781.0M | $17.8B | ||
| Q2 25 | $660.4M | $17.1B | ||
| Q1 25 | $669.9M | $16.6B | ||
| Q4 24 | $849.9M | $16.3B | ||
| Q3 24 | $899.6M | $16.0B | ||
| Q2 24 | $938.9M | $15.1B | ||
| Q1 24 | $949.2M | $15.1B |
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 | — | $-925.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | -40.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-925.5M | ||
| Q3 25 | — | $-290.4M | ||
| Q2 25 | $-7.5M | $-210.5M | ||
| Q1 25 | $-121.0M | $-126.4M | ||
| Q4 24 | — | $-430.5M | ||
| Q3 24 | — | $-141.7M | ||
| Q2 24 | $-37.8M | $-88.6M | ||
| Q1 24 | $-205.8M | $-59.5M |
| 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 | — | 0.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | 5.9% | 0.0% | ||
| Q1 24 | 4.7% | 0.0% |
| Q4 25 | — | -40.92× | ||
| Q3 25 | — | -9.84× | ||
| Q2 25 | — | -4.90× | ||
| Q1 25 | — | -3.99× | ||
| Q4 24 | — | -14.04× | ||
| Q3 24 | — | -8.76× | ||
| Q2 24 | — | -1.69× | ||
| Q1 24 | — | -2.21× |
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% |
EFC
Segment breakdown not available.
