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Side-by-side financial comparison of Canopy Growth Corp (CGC) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $54.4M, roughly 1.7× Canopy Growth Corp). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -84.0%, a 78.2% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -0.3%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
CGC vs SHEN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $91.6M |
| Net Profit | $-45.7M | $-5.4M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | -1.0% |
| Net Margin | -84.0% | -5.9% |
| Revenue YoY | -0.3% | 7.2% |
| Net Profit YoY | 48.6% | -95.8% |
| EPS (diluted) | — | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $48.7M | $89.8M | ||
| Q2 25 | $52.7M | $88.6M | ||
| Q1 25 | $47.5M | $87.9M | ||
| Q4 24 | $54.6M | $85.4M | ||
| Q3 24 | $46.0M | $87.6M | ||
| Q2 24 | $48.3M | $85.8M | ||
| Q1 24 | $53.1M | $69.2M |
| Q4 25 | $-45.7M | $-5.4M | ||
| Q3 25 | $-1.2M | $-9.4M | ||
| Q2 25 | $-30.3M | $-9.0M | ||
| Q1 25 | — | $-9.1M | ||
| Q4 24 | $-89.0M | $-2.7M | ||
| Q3 24 | $-93.7M | $-5.3M | ||
| Q2 24 | $-92.8M | $-12.9M | ||
| Q1 24 | — | $214.7M |
| 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% | -1.0% | ||
| Q3 25 | -25.3% | -8.0% | ||
| Q2 25 | -31.4% | -10.3% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | -31.9% | -6.7% | ||
| Q3 24 | -72.9% | -4.8% | ||
| Q2 24 | -44.0% | -18.5% | ||
| Q1 24 | — | -4.0% |
| Q4 25 | -84.0% | -5.9% | ||
| Q3 25 | -2.5% | -10.5% | ||
| Q2 25 | -57.6% | -10.2% | ||
| Q1 25 | — | -10.4% | ||
| Q4 24 | -163.0% | -3.2% | ||
| Q3 24 | -203.7% | -6.0% | ||
| Q2 24 | -192.0% | -15.0% | ||
| Q1 24 | — | 310.0% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | — | $-0.19 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.34 | ||
| Q3 24 | — | $-0.13 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $553.5M | $880.8M |
| Total Assets | $807.5M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $27.3M | ||
| Q3 25 | $217.6M | $22.6M | ||
| Q2 25 | $104.8M | $29.1M | ||
| Q1 25 | $96.0M | $87.5M | ||
| Q4 24 | $130.2M | $46.3M | ||
| Q3 24 | $168.8M | $43.1M | ||
| Q2 24 | $142.3M | $43.8M | ||
| Q1 24 | $148.5M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $553.5M | $880.8M | ||
| Q3 25 | $537.3M | $892.7M | ||
| Q2 25 | $357.0M | $902.0M | ||
| Q1 25 | $355.7M | $910.5M | ||
| Q4 24 | $431.8M | $918.6M | ||
| Q3 24 | $372.1M | $925.4M | ||
| Q2 24 | $389.0M | $933.1M | ||
| Q1 24 | $365.3M | $871.6M |
| Q4 25 | $807.5M | $1.9B | ||
| Q3 25 | $781.0M | $1.9B | ||
| Q2 25 | $660.4M | $1.8B | ||
| Q1 25 | $669.9M | $1.8B | ||
| Q4 24 | $849.9M | $1.7B | ||
| Q3 24 | $899.6M | $1.7B | ||
| Q2 24 | $938.9M | $1.7B | ||
| Q1 24 | $949.2M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | — | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $28.8M | ||
| Q3 25 | — | $30.7M | ||
| Q2 25 | $-7.5M | $20.9M | ||
| Q1 25 | $-121.0M | $20.5M | ||
| Q4 24 | — | $20.6M | ||
| Q3 24 | — | $24.3M | ||
| Q2 24 | $-37.8M | $2.5M | ||
| Q1 24 | $-205.8M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | $-8.5M | $-65.3M | ||
| Q1 25 | $-128.9M | $-62.7M | ||
| Q4 24 | — | $-72.0M | ||
| Q3 24 | — | $-51.3M | ||
| Q2 24 | $-40.7M | $-78.3M | ||
| Q1 24 | $-208.3M | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | -16.1% | -73.7% | ||
| Q1 25 | -271.5% | -71.3% | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | — | -58.5% | ||
| Q2 24 | -84.1% | -91.3% | ||
| Q1 24 | -392.1% | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | 1.8% | 97.3% | ||
| Q1 25 | 16.6% | 94.7% | ||
| Q4 24 | — | 108.4% | ||
| Q3 24 | — | 86.2% | ||
| Q2 24 | 5.9% | 94.2% | ||
| Q1 24 | 4.7% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
