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Side-by-side financial comparison of Canopy Growth Corp (CGC) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $54.4M, roughly 1.7× Canopy Growth Corp). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -84.0%, a 140.0% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
CGC vs PMT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $93.6M |
| Net Profit | $-45.7M | $52.4M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 38.6% |
| Net Margin | -84.0% | 56.0% |
| Revenue YoY | -0.3% | -13.3% |
| Net Profit YoY | 48.6% | 12.5% |
| EPS (diluted) | — | $0.49 |
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 | $93.6M | ||
| Q3 25 | $48.7M | $99.2M | ||
| Q2 25 | $52.7M | $70.2M | ||
| Q1 25 | $47.5M | $44.5M | ||
| Q4 24 | $54.6M | $107.9M | ||
| Q3 24 | $46.0M | $80.9M | ||
| Q2 24 | $48.3M | $71.2M | ||
| Q1 24 | $53.1M | $74.2M |
| Q4 25 | $-45.7M | $52.4M | ||
| Q3 25 | $-1.2M | $58.3M | ||
| Q2 25 | $-30.3M | $7.5M | ||
| Q1 25 | — | $9.7M | ||
| Q4 24 | $-89.0M | $46.5M | ||
| Q3 24 | $-93.7M | $41.4M | ||
| Q2 24 | $-92.8M | $25.4M | ||
| Q1 24 | — | $47.6M |
| 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% | 38.6% | ||
| Q3 25 | -25.3% | 47.4% | ||
| Q2 25 | -31.4% | 24.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | -31.9% | 51.1% | ||
| Q3 24 | -72.9% | 32.8% | ||
| Q2 24 | -44.0% | 40.2% | ||
| Q1 24 | — | 43.6% |
| Q4 25 | -84.0% | 56.0% | ||
| Q3 25 | -2.5% | 58.7% | ||
| Q2 25 | -57.6% | 10.7% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | -163.0% | 43.1% | ||
| Q3 24 | -203.7% | 51.2% | ||
| Q2 24 | -192.0% | 35.7% | ||
| Q1 24 | — | 64.2% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | — | $0.45 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.17 | ||
| Q1 24 | — | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $553.5M | $1.9B |
| Total Assets | $807.5M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $190.5M | ||
| Q3 25 | $217.6M | $181.0M | ||
| Q2 25 | $104.8M | $108.6M | ||
| Q1 25 | $96.0M | $204.2M | ||
| Q4 24 | $130.2M | $103.2M | ||
| Q3 24 | $168.8M | $102.8M | ||
| Q2 24 | $142.3M | $336.3M | ||
| Q1 24 | $148.5M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $553.5M | $1.9B | ||
| Q3 25 | $537.3M | $1.9B | ||
| Q2 25 | $357.0M | $1.9B | ||
| Q1 25 | $355.7M | $1.9B | ||
| Q4 24 | $431.8M | $1.9B | ||
| Q3 24 | $372.1M | $1.9B | ||
| Q2 24 | $389.0M | $1.9B | ||
| Q1 24 | $365.3M | $2.0B |
| Q4 25 | $807.5M | $21.3B | ||
| Q3 25 | $781.0M | $18.5B | ||
| Q2 25 | $660.4M | $16.8B | ||
| Q1 25 | $669.9M | $14.9B | ||
| Q4 24 | $849.9M | $14.4B | ||
| Q3 24 | $899.6M | $13.1B | ||
| Q2 24 | $938.9M | $12.1B | ||
| Q1 24 | $949.2M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | — | $-7.2B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.2B | ||
| Q3 25 | — | $-1.3B | ||
| Q2 25 | $-7.5M | $-2.0B | ||
| Q1 25 | $-121.0M | $-594.3M | ||
| Q4 24 | — | $-2.7B | ||
| Q3 24 | — | $-983.8M | ||
| Q2 24 | $-37.8M | $243.8M | ||
| Q1 24 | $-205.8M | $-342.4M |
| 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 | — | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
