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Side-by-side financial comparison of Canopy Growth Corp (CGC) and NACCO INDUSTRIES INC (NC). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($66.8M vs $54.4M, roughly 1.2× Canopy Growth Corp). NACCO INDUSTRIES INC runs the higher net margin — -5.8% vs -84.0%, a 78.3% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -5.2%). Over the past eight quarters, NACCO INDUSTRIES INC's revenue compounded faster (11.9% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
CGC vs NC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $66.8M |
| Net Profit | $-45.7M | $-3.8M |
| Gross Margin | 28.8% | 18.0% |
| Operating Margin | -35.3% | 11.3% |
| Net Margin | -84.0% | -5.8% |
| Revenue YoY | -0.3% | -5.2% |
| Net Profit YoY | 48.6% | -150.8% |
| EPS (diluted) | — | $-0.53 |
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 | $66.8M | ||
| Q3 25 | $48.7M | $76.6M | ||
| Q2 25 | $52.7M | $68.2M | ||
| Q1 25 | $47.5M | $65.6M | ||
| Q4 24 | $54.6M | $70.4M | ||
| Q3 24 | $46.0M | $61.7M | ||
| Q2 24 | $48.3M | $52.3M | ||
| Q1 24 | $53.1M | $53.3M |
| Q4 25 | $-45.7M | $-3.8M | ||
| Q3 25 | $-1.2M | $13.3M | ||
| Q2 25 | $-30.3M | $3.3M | ||
| Q1 25 | — | $4.9M | ||
| Q4 24 | $-89.0M | $7.6M | ||
| Q3 24 | $-93.7M | $15.6M | ||
| Q2 24 | $-92.8M | $6.0M | ||
| Q1 24 | — | $4.6M |
| Q4 25 | 28.8% | 18.0% | ||
| Q3 25 | 32.8% | 13.0% | ||
| Q2 25 | 25.0% | 10.0% | ||
| Q1 25 | 16.2% | 14.7% | ||
| Q4 24 | 32.2% | 12.0% | ||
| Q3 24 | 34.7% | 11.7% | ||
| Q2 24 | 34.8% | 13.4% | ||
| Q1 24 | 21.3% | 13.2% |
| Q4 25 | -35.3% | 11.3% | ||
| Q3 25 | -25.3% | 8.8% | ||
| Q2 25 | -31.4% | -0.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | -31.9% | 5.5% | ||
| Q3 24 | -72.9% | 31.9% | ||
| Q2 24 | -44.0% | 14.1% | ||
| Q1 24 | — | 8.9% |
| Q4 25 | -84.0% | -5.8% | ||
| Q3 25 | -2.5% | 17.3% | ||
| Q2 25 | -57.6% | 4.8% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | -163.0% | 10.7% | ||
| Q3 24 | -203.7% | 25.4% | ||
| Q2 24 | -192.0% | 11.4% | ||
| Q1 24 | — | 8.6% |
| Q4 25 | — | $-0.53 | ||
| Q3 25 | — | $1.78 | ||
| Q2 25 | — | $0.44 | ||
| Q1 25 | — | $0.66 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | — | $2.14 | ||
| Q2 24 | — | $0.81 | ||
| Q1 24 | — | $0.61 |
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 | $49.7M |
| Total DebtLower is stronger | — | $100.8M |
| Stockholders' EquityBook value | $553.5M | $429.2M |
| Total Assets | $807.5M | $661.2M |
| Debt / EquityLower = less leverage | — | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $49.7M | ||
| Q3 25 | $217.6M | $52.7M | ||
| Q2 25 | $104.8M | $49.4M | ||
| Q1 25 | $96.0M | $61.9M | ||
| Q4 24 | $130.2M | $72.8M | ||
| Q3 24 | $168.8M | $63.1M | ||
| Q2 24 | $142.3M | $62.4M | ||
| Q1 24 | $148.5M | $61.8M |
| Q4 25 | — | $100.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $99.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $29.0M | ||
| Q1 24 | — | $28.4M |
| Q4 25 | $553.5M | $429.2M | ||
| Q3 25 | $537.3M | $426.4M | ||
| Q2 25 | $357.0M | $413.1M | ||
| Q1 25 | $355.7M | $409.1M | ||
| Q4 24 | $431.8M | $404.9M | ||
| Q3 24 | $372.1M | $397.3M | ||
| Q2 24 | $389.0M | $384.1M | ||
| Q1 24 | $365.3M | $381.6M |
| Q4 25 | $807.5M | $661.2M | ||
| Q3 25 | $781.0M | $637.6M | ||
| Q2 25 | $660.4M | $631.3M | ||
| Q1 25 | $669.9M | $634.2M | ||
| Q4 24 | $849.9M | $631.7M | ||
| Q3 24 | $899.6M | $597.4M | ||
| Q2 24 | $938.9M | $560.1M | ||
| Q1 24 | $949.2M | $538.0M |
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.07× |
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 | — | $11.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $11.4M | ||
| Q3 25 | — | $42.3M | ||
| Q2 25 | $-7.5M | $-7.8M | ||
| Q1 25 | $-121.0M | $5.0M | ||
| Q4 24 | — | $25.2M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | $-37.8M | $4.1M | ||
| Q1 24 | $-205.8M | $-9.8M |
| 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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.9% | — | ||
| Q1 24 | 4.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.19× | ||
| Q2 25 | — | -2.39× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 3.33× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | -2.14× |
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% |
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
