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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $54.4M, roughly 1.8× Canopy Growth Corp). Latham Group, Inc. runs the higher net margin — -7.0% vs -84.0%, a 77.0% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -0.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -4.9%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
CGC vs SWIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $100.0M |
| Net Profit | $-45.7M | $-7.0M |
| Gross Margin | 28.8% | 28.0% |
| Operating Margin | -35.3% | -10.7% |
| Net Margin | -84.0% | -7.0% |
| Revenue YoY | -0.3% | 14.5% |
| Net Profit YoY | 48.6% | 76.0% |
| EPS (diluted) | — | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $48.7M | $161.9M | ||
| Q2 25 | $52.7M | $172.6M | ||
| Q1 25 | $47.5M | $111.4M | ||
| Q4 24 | $54.6M | $87.3M | ||
| Q3 24 | $46.0M | $150.5M | ||
| Q2 24 | $48.3M | $160.1M | ||
| Q1 24 | $53.1M | $110.6M |
| Q4 25 | $-45.7M | $-7.0M | ||
| Q3 25 | $-1.2M | $8.1M | ||
| Q2 25 | $-30.3M | $16.0M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | $-89.0M | $-29.2M | ||
| Q3 24 | $-93.7M | $5.9M | ||
| Q2 24 | $-92.8M | $13.3M | ||
| Q1 24 | — | $-7.9M |
| Q4 25 | 28.8% | 28.0% | ||
| Q3 25 | 32.8% | 35.4% | ||
| Q2 25 | 25.0% | 37.1% | ||
| Q1 25 | 16.2% | 29.5% | ||
| Q4 24 | 32.2% | 24.6% | ||
| Q3 24 | 34.7% | 32.4% | ||
| Q2 24 | 34.8% | 33.1% | ||
| Q1 24 | 21.3% | 27.7% |
| Q4 25 | -35.3% | -10.7% | ||
| Q3 25 | -25.3% | 13.3% | ||
| Q2 25 | -31.4% | 14.3% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | -31.9% | -14.9% | ||
| Q3 24 | -72.9% | 8.9% | ||
| Q2 24 | -44.0% | 12.5% | ||
| Q1 24 | — | -1.9% |
| Q4 25 | -84.0% | -7.0% | ||
| Q3 25 | -2.5% | 5.0% | ||
| Q2 25 | -57.6% | 9.3% | ||
| Q1 25 | — | -5.4% | ||
| Q4 24 | -163.0% | -33.4% | ||
| Q3 24 | -203.7% | 3.9% | ||
| Q2 24 | -192.0% | 8.3% | ||
| Q1 24 | — | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.13 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $0.05 | ||
| Q2 24 | — | $0.11 | ||
| Q1 24 | — | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $553.5M | $405.9M |
| Total Assets | $807.5M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | — | ||
| Q3 25 | $217.6M | — | ||
| Q2 25 | $104.8M | — | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $130.2M | — | ||
| Q3 24 | $168.8M | — | ||
| Q2 24 | $142.3M | — | ||
| Q1 24 | $148.5M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $553.5M | $405.9M | ||
| Q3 25 | $537.3M | $408.4M | ||
| Q2 25 | $357.0M | $398.4M | ||
| Q1 25 | $355.7M | $381.1M | ||
| Q4 24 | $431.8M | $387.2M | ||
| Q3 24 | $372.1M | $416.6M | ||
| Q2 24 | $389.0M | $408.1M | ||
| Q1 24 | $365.3M | $391.8M |
| Q4 25 | $807.5M | $823.2M | ||
| Q3 25 | $781.0M | $844.4M | ||
| Q2 25 | $660.4M | $822.1M | ||
| Q1 25 | $669.9M | $824.6M | ||
| Q4 24 | $849.9M | $794.2M | ||
| Q3 24 | $899.6M | $853.4M | ||
| Q2 24 | $938.9M | $830.0M | ||
| Q1 24 | $949.2M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | — | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | — | $51.0M | ||
| Q2 25 | $-7.5M | $36.0M | ||
| Q1 25 | $-121.0M | $-46.9M | ||
| Q4 24 | — | $6.2M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | $-37.8M | $52.4M | ||
| Q1 24 | $-205.8M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | $-8.5M | $29.1M | ||
| Q1 25 | $-128.9M | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | $-40.7M | $47.9M | ||
| Q1 24 | $-208.3M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | -16.1% | 16.8% | ||
| Q1 25 | -271.5% | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | -84.1% | 29.9% | ||
| Q1 24 | -392.1% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | 1.8% | 4.0% | ||
| Q1 25 | 16.6% | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | 5.9% | 2.8% | ||
| Q1 24 | 4.7% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
