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Side-by-side financial comparison of Canopy Growth Corp (CGC) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
LandBridge Co LLC is the larger business by last-quarter revenue ($56.8M vs $54.4M, roughly 1.0× Canopy Growth Corp). LandBridge Co LLC runs the higher net margin — 14.2% vs -84.0%, a 98.2% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs -0.3%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
CGC vs LB — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $56.8M |
| Net Profit | $-45.7M | $8.1M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 60.0% |
| Net Margin | -84.0% | 14.2% |
| Revenue YoY | -0.3% | 55.6% |
| Net Profit YoY | 48.6% | -83.7% |
| EPS (diluted) | — | $0.24 |
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 | $56.8M | ||
| Q3 25 | $48.7M | $50.8M | ||
| Q2 25 | $52.7M | $47.5M | ||
| Q1 25 | $47.5M | $44.0M | ||
| Q4 24 | $54.6M | $36.5M | ||
| Q3 24 | $46.0M | $28.5M | ||
| Q2 24 | $48.3M | $26.0M | ||
| Q1 24 | $53.1M | $19.0M |
| Q4 25 | $-45.7M | $8.1M | ||
| Q3 25 | $-1.2M | $8.1M | ||
| Q2 25 | $-30.3M | $7.5M | ||
| Q1 25 | — | $6.5M | ||
| Q4 24 | $-89.0M | $49.3M | ||
| Q3 24 | $-93.7M | $2.7M | ||
| Q2 24 | $-92.8M | $-57.7M | ||
| Q1 24 | — | $10.8M |
| 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% | 60.0% | ||
| Q3 25 | -25.3% | 60.8% | ||
| Q2 25 | -31.4% | 60.0% | ||
| Q1 25 | — | 57.0% | ||
| Q4 24 | -31.9% | 49.4% | ||
| Q3 24 | -72.9% | 11.2% | ||
| Q2 24 | -44.0% | -197.4% | ||
| Q1 24 | — | 71.1% |
| Q4 25 | -84.0% | 14.2% | ||
| Q3 25 | -2.5% | 15.9% | ||
| Q2 25 | -57.6% | 15.8% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | -163.0% | 135.2% | ||
| Q3 24 | -203.7% | 9.3% | ||
| Q2 24 | -192.0% | -222.1% | ||
| Q1 24 | — | 56.7% |
| Q4 25 | — | $0.24 | ||
| Q3 25 | — | $0.26 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $30.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $553.5M | $340.3M |
| Total Assets | $807.5M | $1.4B |
| Debt / EquityLower = less leverage | — | 1.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $30.7M | ||
| Q3 25 | $217.6M | $28.3M | ||
| Q2 25 | $104.8M | $20.3M | ||
| Q1 25 | $96.0M | $14.9M | ||
| Q4 24 | $130.2M | $37.0M | ||
| Q3 24 | $168.8M | $14.4M | ||
| Q2 24 | $142.3M | $24.6M | ||
| Q1 24 | $148.5M | — |
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M | ||
| Q1 24 | — | — |
| Q4 25 | $553.5M | $340.3M | ||
| Q3 25 | $537.3M | $272.0M | ||
| Q2 25 | $357.0M | $266.4M | ||
| Q1 25 | $355.7M | $217.0M | ||
| Q4 24 | $431.8M | $211.8M | ||
| Q3 24 | $372.1M | $97.2M | ||
| Q2 24 | $389.0M | $296.4M | ||
| Q1 24 | $365.3M | $162.3M |
| Q4 25 | $807.5M | $1.4B | ||
| Q3 25 | $781.0M | $1.1B | ||
| Q2 25 | $660.4M | $1.1B | ||
| Q1 25 | $669.9M | $1.0B | ||
| Q4 24 | $849.9M | $1.0B | ||
| Q3 24 | $899.6M | $689.9M | ||
| Q2 24 | $938.9M | $710.5M | ||
| Q1 24 | $949.2M | — |
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× | ||
| 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 | — | $126.3M |
| Free Cash FlowOCF − Capex | — | $122.0M |
| FCF MarginFCF / Revenue | — | 214.9% |
| Capex IntensityCapex / Revenue | — | 7.5% |
| Cash ConversionOCF / Net Profit | — | 15.68× |
| TTM Free Cash FlowTrailing 4 quarters | — | $207.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $126.3M | ||
| Q3 25 | — | $34.9M | ||
| Q2 25 | $-7.5M | $37.3M | ||
| Q1 25 | $-121.0M | $15.9M | ||
| Q4 24 | — | $67.6M | ||
| Q3 24 | — | $7.5M | ||
| Q2 24 | $-37.8M | $16.0M | ||
| Q1 24 | $-205.8M | $17.2M |
| Q4 25 | — | $122.0M | ||
| Q3 25 | — | $33.7M | ||
| Q2 25 | $-8.5M | $36.1M | ||
| Q1 25 | $-128.9M | $15.8M | ||
| Q4 24 | — | $66.7M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | $-40.7M | $15.7M | ||
| Q1 24 | $-208.3M | $17.1M |
| Q4 25 | — | 214.9% | ||
| Q3 25 | — | 66.3% | ||
| Q2 25 | -16.1% | 75.9% | ||
| Q1 25 | -271.5% | 36.0% | ||
| Q4 24 | — | 182.6% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | -84.1% | 60.4% | ||
| Q1 24 | -392.1% | 90.1% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | 1.8% | 2.6% | ||
| Q1 25 | 16.6% | 0.2% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | 5.9% | 1.4% | ||
| Q1 24 | 4.7% | 0.5% |
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | — | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.60× |
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% |
LB
Segment breakdown not available.
