vs
Side-by-side financial comparison of Canopy Growth Corp (CGC) and HORIZON BANCORP INC (HBNC). Click either name above to swap in a different company.
HORIZON BANCORP INC is the larger business by last-quarter revenue ($63.5M vs $54.4M, roughly 1.2× Canopy Growth Corp). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -84.0%, a 126.4% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs -0.3%). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
CGC vs HBNC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $63.5M |
| Net Profit | $-45.7M | $26.9M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 51.5% |
| Net Margin | -84.0% | 42.4% |
| Revenue YoY | -0.3% | 19.5% |
| Net Profit YoY | 48.6% | 347.4% |
| EPS (diluted) | — | $0.44 |
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 | $63.5M | ||
| Q3 25 | $48.7M | $58.4M | ||
| Q2 25 | $52.7M | $66.3M | ||
| Q1 25 | $47.5M | $68.8M | ||
| Q4 24 | $54.6M | $53.1M | ||
| Q3 24 | $46.0M | $58.4M | ||
| Q2 24 | $48.3M | $55.8M | ||
| Q1 24 | $53.1M | $53.2M |
| Q4 25 | $-45.7M | $26.9M | ||
| Q3 25 | $-1.2M | $-222.0M | ||
| Q2 25 | $-30.3M | $20.6M | ||
| Q1 25 | — | $23.9M | ||
| Q4 24 | $-89.0M | $-10.9M | ||
| Q3 24 | $-93.7M | $18.2M | ||
| Q2 24 | $-92.8M | $14.1M | ||
| Q1 24 | — | $14.0M |
| 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% | 51.5% | ||
| Q3 25 | -25.3% | -490.4% | ||
| Q2 25 | -31.4% | 36.8% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | -31.9% | -41.3% | ||
| Q3 24 | -72.9% | 31.0% | ||
| Q2 24 | -44.0% | 28.5% | ||
| Q1 24 | — | 28.8% |
| Q4 25 | -84.0% | 42.4% | ||
| Q3 25 | -2.5% | -380.2% | ||
| Q2 25 | -57.6% | 31.1% | ||
| Q1 25 | — | 34.8% | ||
| Q4 24 | -163.0% | -20.5% | ||
| Q3 24 | -203.7% | 31.1% | ||
| Q2 24 | -192.0% | 25.4% | ||
| Q1 24 | — | 26.3% |
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $-4.69 | ||
| Q2 25 | — | $0.47 | ||
| Q1 25 | — | $0.54 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | — | $0.41 | ||
| Q2 24 | — | $0.32 | ||
| 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 | $139.5M |
| Total DebtLower is stronger | — | $248.6M |
| Stockholders' EquityBook value | $553.5M | $688.3M |
| Total Assets | $807.5M | $6.4B |
| Debt / EquityLower = less leverage | — | 0.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $139.5M | ||
| Q3 25 | $217.6M | $458.3M | ||
| Q2 25 | $104.8M | $137.9M | ||
| Q1 25 | $96.0M | $169.7M | ||
| Q4 24 | $130.2M | $293.4M | ||
| Q3 24 | $168.8M | $234.8M | ||
| Q2 24 | $142.3M | $146.1M | ||
| Q1 24 | $148.5M | — |
| Q4 25 | — | $248.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $553.5M | $688.3M | ||
| Q3 25 | $537.3M | $660.8M | ||
| Q2 25 | $357.0M | $790.9M | ||
| Q1 25 | $355.7M | $776.1M | ||
| Q4 24 | $431.8M | $763.6M | ||
| Q3 24 | $372.1M | $754.8M | ||
| Q2 24 | $389.0M | $726.7M | ||
| Q1 24 | $365.3M | $721.3M |
| Q4 25 | $807.5M | $6.4B | ||
| Q3 25 | $781.0M | $6.7B | ||
| Q2 25 | $660.4M | $7.7B | ||
| Q1 25 | $669.9M | $7.6B | ||
| Q4 24 | $849.9M | $7.8B | ||
| Q3 24 | $899.6M | $7.9B | ||
| Q2 24 | $938.9M | $7.9B | ||
| Q1 24 | $949.2M | $7.9B |
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.61× | ||
| 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 | — | $79.2M |
| Free Cash FlowOCF − Capex | — | $74.3M |
| FCF MarginFCF / Revenue | — | 117.0% |
| Capex IntensityCapex / Revenue | — | 7.8% |
| Cash ConversionOCF / Net Profit | — | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $115.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $79.2M | ||
| Q3 25 | — | $10.9M | ||
| Q2 25 | $-7.5M | $19.5M | ||
| Q1 25 | $-121.0M | $15.2M | ||
| Q4 24 | — | $6.4M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | $-37.8M | $15.9M | ||
| Q1 24 | $-205.8M | $6.5M |
| Q4 25 | — | $74.3M | ||
| Q3 25 | — | $9.4M | ||
| Q2 25 | $-8.5M | $18.1M | ||
| Q1 25 | $-128.9M | $14.1M | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | $-40.7M | $15.1M | ||
| Q1 24 | $-208.3M | $5.4M |
| Q4 25 | — | 117.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | -16.1% | 27.3% | ||
| Q1 25 | -271.5% | 20.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | -84.1% | 27.1% | ||
| Q1 24 | -392.1% | 10.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 16.6% | 1.6% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | 5.9% | 1.5% | ||
| Q1 24 | 4.7% | 2.2% |
| Q4 25 | — | 2.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.78× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 0.47× |
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% |
HBNC
Segment breakdown not available.
