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Side-by-side financial comparison of Canopy Growth Corp (CGC) and NATIONAL RESEARCH CORP (NRC). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $35.2M, roughly 1.5× NATIONAL RESEARCH CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -84.0%, a 89.1% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -4.6%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -0.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
National Research Corporation, doing business as NRC Health, is an American healthcare company which provides healthcare products and subscription-based solutions in United States and Canada. It was founded in 1981, and is based in Lincoln, Nebraska.
CGC vs NRC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $35.2M |
| Net Profit | $-45.7M | $1.8M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 13.3% |
| Net Margin | -84.0% | 5.1% |
| Revenue YoY | -0.3% | -4.6% |
| Net Profit YoY | 48.6% | -72.6% |
| EPS (diluted) | — | $49.58 |
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 | $35.2M | ||
| Q3 25 | $48.7M | $34.6M | ||
| Q2 25 | $52.7M | $34.0M | ||
| Q1 25 | $47.5M | $33.6M | ||
| Q4 24 | $54.6M | $36.9M | ||
| Q3 24 | $46.0M | $35.8M | ||
| Q2 24 | $48.3M | $35.0M | ||
| Q1 24 | $53.1M | $35.3M |
| Q4 25 | $-45.7M | $1.8M | ||
| Q3 25 | $-1.2M | $4.1M | ||
| Q2 25 | $-30.3M | $-106.0K | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | $-89.0M | $6.6M | ||
| Q3 24 | $-93.7M | $5.7M | ||
| Q2 24 | $-92.8M | $6.2M | ||
| Q1 24 | — | $6.4M |
| 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% | 13.3% | ||
| Q3 25 | -25.3% | 22.4% | ||
| Q2 25 | -31.4% | 4.7% | ||
| Q1 25 | — | 25.6% | ||
| Q4 24 | -31.9% | 26.0% | ||
| Q3 24 | -72.9% | 22.3% | ||
| Q2 24 | -44.0% | 25.3% | ||
| Q1 24 | — | 24.8% |
| Q4 25 | -84.0% | 5.1% | ||
| Q3 25 | -2.5% | 11.9% | ||
| Q2 25 | -57.6% | -0.3% | ||
| Q1 25 | — | 17.2% | ||
| Q4 24 | -163.0% | 17.8% | ||
| Q3 24 | -203.7% | 15.9% | ||
| Q2 24 | -192.0% | 17.6% | ||
| Q1 24 | — | 18.0% |
| Q4 25 | — | $49.58 | ||
| Q3 25 | — | $0.18 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $0.25 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | — | $0.26 | ||
| Q1 24 | — | $0.27 |
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 | $4.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $14.0M |
| Total Assets | $807.5M | $134.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $4.1M | ||
| Q3 25 | $217.6M | $2.2M | ||
| Q2 25 | $104.8M | $5.3M | ||
| Q1 25 | $96.0M | $2.5M | ||
| Q4 24 | $130.2M | $4.2M | ||
| Q3 24 | $168.8M | $3.5M | ||
| Q2 24 | $142.3M | $485.0K | ||
| Q1 24 | $148.5M | $1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $48.7M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $35.2M |
| Q4 25 | $553.5M | $14.0M | ||
| Q3 25 | $537.3M | $14.3M | ||
| Q2 25 | $357.0M | $21.3M | ||
| Q1 25 | $355.7M | $29.7M | ||
| Q4 24 | $431.8M | $31.3M | ||
| Q3 24 | $372.1M | $34.6M | ||
| Q2 24 | $389.0M | $40.2M | ||
| Q1 24 | $365.3M | $36.9M |
| Q4 25 | $807.5M | $134.9M | ||
| Q3 25 | $781.0M | $135.7M | ||
| Q2 25 | $660.4M | $141.4M | ||
| Q1 25 | $669.9M | $135.2M | ||
| Q4 24 | $849.9M | $132.5M | ||
| Q3 24 | $899.6M | $131.8M | ||
| Q2 24 | $938.9M | $119.1M | ||
| Q1 24 | $949.2M | $120.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | 0.95× |
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 | — | $7.2M |
| Free Cash FlowOCF − Capex | — | $6.1M |
| FCF MarginFCF / Revenue | — | 17.2% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | — | 3.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $15.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.2M | ||
| Q3 25 | — | $13.8M | ||
| Q2 25 | $-7.5M | $-1.1M | ||
| Q1 25 | $-121.0M | $6.6M | ||
| Q4 24 | — | $6.4M | ||
| Q3 24 | — | $9.4M | ||
| Q2 24 | $-37.8M | $6.8M | ||
| Q1 24 | $-205.8M | $12.0M |
| Q4 25 | — | $6.1M | ||
| Q3 25 | — | $10.2M | ||
| Q2 25 | $-8.5M | $-4.1M | ||
| Q1 25 | $-128.9M | $3.7M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | — | $7.8M | ||
| Q2 24 | $-40.7M | $1.5M | ||
| Q1 24 | $-208.3M | $7.9M |
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 29.4% | ||
| Q2 25 | -16.1% | -12.2% | ||
| Q1 25 | -271.5% | 10.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | -84.1% | 4.3% | ||
| Q1 24 | -392.1% | 22.4% |
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | 1.8% | 8.8% | ||
| Q1 25 | 16.6% | 8.9% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | 5.9% | 15.0% | ||
| Q1 24 | 4.7% | 11.7% |
| Q4 25 | — | 3.99× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.10× | ||
| Q1 24 | — | 1.89× |
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% |
NRC
Segment breakdown not available.
