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Side-by-side financial comparison of Canopy Growth Corp (CGC) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $54.4M, roughly 1.5× Canopy Growth Corp). P10, Inc. runs the higher net margin — 11.7% vs -84.0%, a 95.7% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -4.7%). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
CGC vs PX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $81.0M |
| Net Profit | $-45.7M | $9.5M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 31.9% |
| Net Margin | -84.0% | 11.7% |
| Revenue YoY | -0.3% | -4.7% |
| Net Profit YoY | 48.6% | 79.0% |
| EPS (diluted) | — | $0.08 |
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 | $81.0M | ||
| Q3 25 | $48.7M | $75.9M | ||
| Q2 25 | $52.7M | $72.7M | ||
| Q1 25 | $47.5M | $67.7M | ||
| Q4 24 | $54.6M | $85.0M | ||
| Q3 24 | $46.0M | $74.2M | ||
| Q2 24 | $48.3M | $71.1M | ||
| Q1 24 | $53.1M | $66.1M |
| Q4 25 | $-45.7M | $9.5M | ||
| Q3 25 | $-1.2M | $2.1M | ||
| Q2 25 | $-30.3M | $3.4M | ||
| Q1 25 | — | $4.5M | ||
| Q4 24 | $-89.0M | $5.3M | ||
| Q3 24 | $-93.7M | $1.4M | ||
| Q2 24 | $-92.8M | $7.0M | ||
| Q1 24 | — | $5.0M |
| 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% | 31.9% | ||
| Q3 25 | -25.3% | 14.1% | ||
| Q2 25 | -31.4% | 24.4% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | -31.9% | 26.9% | ||
| Q3 24 | -72.9% | 11.9% | ||
| Q2 24 | -44.0% | 23.7% | ||
| Q1 24 | — | 18.3% |
| Q4 25 | -84.0% | 11.7% | ||
| Q3 25 | -2.5% | 2.8% | ||
| Q2 25 | -57.6% | 4.7% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | -163.0% | 6.2% | ||
| Q3 24 | -203.7% | 1.9% | ||
| Q2 24 | -192.0% | 9.8% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | — | $0.08 | ||
| Q3 25 | — | $0.02 | ||
| Q2 25 | — | $0.03 | ||
| Q1 25 | — | $0.04 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | — | $0.01 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | — | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $553.5M | $403.5M |
| Total Assets | $807.5M | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $28.2M | ||
| Q3 25 | $217.6M | $40.0M | ||
| Q2 25 | $104.8M | $33.4M | ||
| Q1 25 | $96.0M | $74.4M | ||
| Q4 24 | $130.2M | $67.5M | ||
| Q3 24 | $168.8M | $61.5M | ||
| Q2 24 | $142.3M | $31.2M | ||
| Q1 24 | $148.5M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $553.5M | $403.5M | ||
| Q3 25 | $537.3M | $396.8M | ||
| Q2 25 | $357.0M | $388.9M | ||
| Q1 25 | $355.7M | $374.3M | ||
| Q4 24 | $431.8M | $386.9M | ||
| Q3 24 | $372.1M | $394.1M | ||
| Q2 24 | $389.0M | $396.9M | ||
| Q1 24 | $365.3M | $400.1M |
| Q4 25 | $807.5M | $928.3M | ||
| Q3 25 | $781.0M | $936.0M | ||
| Q2 25 | $660.4M | $932.2M | ||
| Q1 25 | $669.9M | $877.4M | ||
| Q4 24 | $849.9M | $869.3M | ||
| Q3 24 | $899.6M | $857.0M | ||
| Q2 24 | $938.9M | $823.2M | ||
| Q1 24 | $949.2M | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | — | $23.0M |
| Free Cash FlowOCF − Capex | — | $18.1M |
| FCF MarginFCF / Revenue | — | 22.3% |
| Capex IntensityCapex / Revenue | — | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.0M | ||
| Q3 25 | — | $-8.6M | ||
| Q2 25 | $-7.5M | $13.4M | ||
| Q1 25 | $-121.0M | $-4.7M | ||
| Q4 24 | — | $101.0M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | $-37.8M | $34.8M | ||
| Q1 24 | $-205.8M | $11.0M |
| Q4 25 | — | $18.1M | ||
| Q3 25 | — | $-9.5M | ||
| Q2 25 | $-8.5M | $11.6M | ||
| Q1 25 | $-128.9M | $-6.0M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $25.2M | ||
| Q2 24 | $-40.7M | $33.9M | ||
| Q1 24 | $-208.3M | $10.7M |
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | -12.6% | ||
| Q2 25 | -16.1% | 15.9% | ||
| Q1 25 | -271.5% | -8.9% | ||
| Q4 24 | — | 113.6% | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | -84.1% | 47.7% | ||
| Q1 24 | -392.1% | 16.2% |
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 1.8% | 2.5% | ||
| Q1 25 | 16.6% | 1.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | 5.9% | 1.3% | ||
| Q1 24 | 4.7% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | — | 4.98× | ||
| Q1 24 | — | 2.18× |
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% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
