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Side-by-side financial comparison of Canopy Growth Corp (CGC) and MARINE PRODUCTS CORP (MPX). Click either name above to swap in a different company.
MARINE PRODUCTS CORP is the larger business by last-quarter revenue ($64.6M vs $54.4M, roughly 1.2× Canopy Growth Corp). MARINE PRODUCTS CORP runs the higher net margin — 3.7% vs -84.0%, a 87.7% gap on every dollar of revenue. On growth, MARINE PRODUCTS CORP posted the faster year-over-year revenue change (35.0% vs -0.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -3.5%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
CGC vs MPX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $64.6M |
| Net Profit | $-45.7M | $2.4M |
| Gross Margin | 28.8% | 19.6% |
| Operating Margin | -35.3% | 5.8% |
| Net Margin | -84.0% | 3.7% |
| Revenue YoY | -0.3% | 35.0% |
| Net Profit YoY | 48.6% | -44.6% |
| EPS (diluted) | — | $0.07 |
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 | $64.6M | ||
| Q3 25 | $48.7M | $53.1M | ||
| Q2 25 | $52.7M | $67.7M | ||
| Q1 25 | $47.5M | $59.0M | ||
| Q4 24 | $54.6M | $47.8M | ||
| Q3 24 | $46.0M | $49.9M | ||
| Q2 24 | $48.3M | $69.5M | ||
| Q1 24 | $53.1M | $69.3M |
| Q4 25 | $-45.7M | $2.4M | ||
| Q3 25 | $-1.2M | $2.6M | ||
| Q2 25 | $-30.3M | $4.2M | ||
| Q1 25 | — | $2.2M | ||
| Q4 24 | $-89.0M | $4.3M | ||
| Q3 24 | $-93.7M | $3.4M | ||
| Q2 24 | $-92.8M | $5.6M | ||
| Q1 24 | — | $4.6M |
| Q4 25 | 28.8% | 19.6% | ||
| Q3 25 | 32.8% | 19.2% | ||
| Q2 25 | 25.0% | 19.1% | ||
| Q1 25 | 16.2% | 18.6% | ||
| Q4 24 | 32.2% | 19.2% | ||
| Q3 24 | 34.7% | 18.4% | ||
| Q2 24 | 34.8% | 18.9% | ||
| Q1 24 | 21.3% | 20.2% |
| Q4 25 | -35.3% | 5.8% | ||
| Q3 25 | -25.3% | 5.4% | ||
| Q2 25 | -31.4% | 7.1% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | -31.9% | 7.7% | ||
| Q3 24 | -72.9% | 7.2% | ||
| Q2 24 | -44.0% | 8.3% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | -84.0% | 3.7% | ||
| Q3 25 | -2.5% | 5.0% | ||
| Q2 25 | -57.6% | 6.1% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | -163.0% | 8.9% | ||
| Q3 24 | -203.7% | 6.8% | ||
| Q2 24 | -192.0% | 8.0% | ||
| Q1 24 | — | 6.6% |
| Q4 25 | — | $0.07 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.12 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $0.14 | ||
| Q1 24 | — | $0.13 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $125.0M |
| Total Assets | $807.5M | $147.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | — | ||
| Q3 25 | $217.6M | — | ||
| Q2 25 | $104.8M | — | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $130.2M | — | ||
| Q3 24 | $168.8M | — | ||
| Q2 24 | $142.3M | — | ||
| Q1 24 | $148.5M | — |
| Q4 25 | $553.5M | $125.0M | ||
| Q3 25 | $537.3M | $126.3M | ||
| Q2 25 | $357.0M | $127.2M | ||
| Q1 25 | $355.7M | $126.4M | ||
| Q4 24 | $431.8M | $129.0M | ||
| Q3 24 | $372.1M | $128.8M | ||
| Q2 24 | $389.0M | $129.3M | ||
| Q1 24 | $365.3M | $151.4M |
| Q4 25 | $807.5M | $147.2M | ||
| Q3 25 | $781.0M | $179.5M | ||
| Q2 25 | $660.4M | $173.2M | ||
| Q1 25 | $669.9M | $182.9M | ||
| Q4 24 | $849.9M | $171.2M | ||
| Q3 24 | $899.6M | $176.3M | ||
| Q2 24 | $938.9M | $175.7M | ||
| Q1 24 | $949.2M | $204.0M |
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 | — | $4.7M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 6.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.7M | ||
| Q3 25 | — | $2.6M | ||
| Q2 25 | $-7.5M | $-1.6M | ||
| Q1 25 | $-121.0M | $10.8M | ||
| Q4 24 | — | $4.6M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | $-37.8M | $3.8M | ||
| Q1 24 | $-205.8M | $15.9M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.1M | ||
| Q2 25 | $-8.5M | $-2.0M | ||
| Q1 25 | $-128.9M | $10.7M | ||
| Q4 24 | — | $3.6M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | $-40.7M | $3.0M | ||
| Q1 24 | $-208.3M | $15.0M |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 4.0% | ||
| Q2 25 | -16.1% | -3.0% | ||
| Q1 25 | -271.5% | 18.1% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | -84.1% | 4.4% | ||
| Q1 24 | -392.1% | 21.7% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | 1.8% | 0.6% | ||
| Q1 25 | 16.6% | 0.2% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | 5.9% | 1.1% | ||
| Q1 24 | 4.7% | 1.3% |
| Q4 25 | — | 2.00× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | -0.39× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 3.46× |
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% |
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
