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Side-by-side financial comparison of Canopy Growth Corp (CGC) and INDEPENDENT BANK CORP (IBCP). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $54.4M, roughly 1.1× Canopy Growth Corp). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs -84.0%, a 112.7% gap on every dollar of revenue. Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (2.1% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
CGC vs IBCP — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $58.9M |
| Net Profit | $-45.7M | $16.9M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | — |
| Net Margin | -84.0% | 28.6% |
| Revenue YoY | -0.3% | — |
| Net Profit YoY | 48.6% | 8.2% |
| EPS (diluted) | — | $0.81 |
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.
| Q1 26 | — | $58.9M | ||
| Q4 25 | $54.4M | $58.3M | ||
| Q3 25 | $48.7M | $57.3M | ||
| Q2 25 | $52.7M | $55.9M | ||
| Q1 25 | $47.5M | $54.1M | ||
| Q4 24 | $54.6M | $62.0M | ||
| Q3 24 | $46.0M | $51.4M | ||
| Q2 24 | $48.3M | $56.5M |
| Q1 26 | — | $16.9M | ||
| Q4 25 | $-45.7M | $18.6M | ||
| Q3 25 | $-1.2M | $17.5M | ||
| Q2 25 | $-30.3M | $16.9M | ||
| Q1 25 | — | $15.6M | ||
| Q4 24 | $-89.0M | $18.5M | ||
| Q3 24 | $-93.7M | $13.8M | ||
| Q2 24 | $-92.8M | $18.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -35.3% | 34.8% | ||
| Q3 25 | -25.3% | 37.0% | ||
| Q2 25 | -31.4% | 37.0% | ||
| Q1 25 | — | 35.3% | ||
| Q4 24 | -31.9% | 36.7% | ||
| Q3 24 | -72.9% | 33.7% | ||
| Q2 24 | -44.0% | 41.0% |
| Q1 26 | — | 28.6% | ||
| Q4 25 | -84.0% | 31.8% | ||
| Q3 25 | -2.5% | 30.5% | ||
| Q2 25 | -57.6% | 30.2% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | -163.0% | 29.8% | ||
| Q3 24 | -203.7% | 26.9% | ||
| Q2 24 | -192.0% | 32.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | — | $0.88 | ||
| Q3 25 | — | $0.84 | ||
| Q2 25 | — | $0.81 | ||
| Q1 25 | — | $0.74 | ||
| Q4 24 | — | $0.87 | ||
| Q3 24 | — | $0.65 | ||
| Q2 24 | — | $0.88 |
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 | $174.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $510.6M |
| Total Assets | $807.5M | $5.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.9M | ||
| Q4 25 | $271.1M | $138.4M | ||
| Q3 25 | $217.6M | $208.7M | ||
| Q2 25 | $104.8M | $146.2M | ||
| Q1 25 | $96.0M | $128.1M | ||
| Q4 24 | $130.2M | $119.9M | ||
| Q3 24 | $168.8M | $121.6M | ||
| Q2 24 | $142.3M | $214.3M |
| Q1 26 | — | $510.6M | ||
| Q4 25 | $553.5M | $503.0M | ||
| Q3 25 | $537.3M | $490.7M | ||
| Q2 25 | $357.0M | $469.3M | ||
| Q1 25 | $355.7M | $467.3M | ||
| Q4 24 | $431.8M | $454.7M | ||
| Q3 24 | $372.1M | $452.4M | ||
| Q2 24 | $389.0M | $430.5M |
| Q1 26 | — | $5.6B | ||
| Q4 25 | $807.5M | $5.5B | ||
| Q3 25 | $781.0M | $5.5B | ||
| Q2 25 | $660.4M | $5.4B | ||
| Q1 25 | $669.9M | $5.3B | ||
| Q4 24 | $849.9M | $5.3B | ||
| Q3 24 | $899.6M | $5.3B | ||
| Q2 24 | $938.9M | $5.3B |
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% |
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
