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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $37.2M, roughly 1.5× Waterstone Financial, Inc.). On growth, Waterstone Financial, Inc. posted the faster year-over-year revenue change (16.7% vs -0.3%). Over the past eight quarters, Waterstone Financial, Inc.'s revenue compounded faster (7.1% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Waterstone Financial, Inc. is a U.S. bank holding company headquartered in Wisconsin. It offers retail and commercial banking services, residential mortgages, and wealth management solutions, primarily serving consumers and small to medium-sized businesses across the U.S. Midwest region.
CGC vs WSBF — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $37.2M |
| Net Profit | $-45.7M | — |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 27.0% |
| Net Margin | -84.0% | — |
| Revenue YoY | -0.3% | 16.7% |
| Net Profit YoY | 48.6% | — |
| EPS (diluted) | — | $0.43 |
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 | $37.2M | ||
| Q3 25 | $48.7M | $37.0M | ||
| Q2 25 | $52.7M | $38.0M | ||
| Q1 25 | $47.5M | $29.7M | ||
| Q4 24 | $54.6M | $31.8M | ||
| Q3 24 | $46.0M | $34.1M | ||
| Q2 24 | $48.3M | $37.2M | ||
| Q1 24 | $53.1M | $32.4M |
| Q4 25 | $-45.7M | — | ||
| Q3 25 | $-1.2M | $7.9M | ||
| Q2 25 | $-30.3M | $7.7M | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | $-89.0M | — | ||
| Q3 24 | $-93.7M | $4.7M | ||
| Q2 24 | $-92.8M | $5.7M | ||
| Q1 24 | — | $3.0M |
| 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% | 27.0% | ||
| Q3 25 | -25.3% | 26.6% | ||
| Q2 25 | -31.4% | 25.4% | ||
| Q1 25 | — | 13.1% | ||
| Q4 24 | -31.9% | 19.5% | ||
| Q3 24 | -72.9% | 17.3% | ||
| Q2 24 | -44.0% | 19.2% | ||
| Q1 24 | — | 14.7% |
| Q4 25 | -84.0% | — | ||
| Q3 25 | -2.5% | 21.4% | ||
| Q2 25 | -57.6% | 20.3% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | -163.0% | — | ||
| Q3 24 | -203.7% | 13.9% | ||
| Q2 24 | -192.0% | 15.4% | ||
| Q1 24 | — | 9.4% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.45 | ||
| Q2 25 | — | $0.43 | ||
| Q1 25 | — | $0.17 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | — | $0.26 | ||
| Q2 24 | — | $0.31 | ||
| Q1 24 | — | $0.16 |
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 | — | $412.3M |
| Stockholders' EquityBook value | $553.5M | $349.4M |
| Total Assets | $807.5M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
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 | — | $412.3M | ||
| Q3 25 | — | $469.1M | ||
| Q2 25 | — | $465.7M | ||
| Q1 25 | — | $395.9M | ||
| Q4 24 | — | $446.5M | ||
| Q3 24 | — | $560.1M | ||
| Q2 24 | — | $660.8M | ||
| Q1 24 | — | $634.2M |
| Q4 25 | $553.5M | $349.4M | ||
| Q3 25 | $537.3M | $345.5M | ||
| Q2 25 | $357.0M | $341.5M | ||
| Q1 25 | $355.7M | $341.4M | ||
| Q4 24 | $431.8M | $339.1M | ||
| Q3 24 | $372.1M | $342.0M | ||
| Q2 24 | $389.0M | $334.9M | ||
| Q1 24 | $365.3M | $338.0M |
| Q4 25 | $807.5M | $2.3B | ||
| Q3 25 | $781.0M | $2.3B | ||
| Q2 25 | $660.4M | $2.3B | ||
| Q1 25 | $669.9M | $2.2B | ||
| Q4 24 | $849.9M | $2.2B | ||
| Q3 24 | $899.6M | $2.2B | ||
| Q2 24 | $938.9M | $2.3B | ||
| Q1 24 | $949.2M | $2.2B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | 1.88× |
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 | — | $24.2M |
| Free Cash FlowOCF − Capex | — | $23.0M |
| FCF MarginFCF / Revenue | — | 61.9% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $24.2M | ||
| Q3 25 | — | $32.7M | ||
| Q2 25 | $-7.5M | $-38.4M | ||
| Q1 25 | $-121.0M | $26.7M | ||
| Q4 24 | — | $48.1M | ||
| Q3 24 | — | $74.1M | ||
| Q2 24 | $-37.8M | $-39.5M | ||
| Q1 24 | $-205.8M | $-9.9M |
| Q4 25 | — | $23.0M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | $-8.5M | $-38.5M | ||
| Q1 25 | $-128.9M | $26.5M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $73.9M | ||
| Q2 24 | $-40.7M | $-39.7M | ||
| Q1 24 | $-208.3M | $-10.3M |
| Q4 25 | — | 61.9% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | -16.1% | -101.2% | ||
| Q1 25 | -271.5% | 89.2% | ||
| Q4 24 | — | 147.5% | ||
| Q3 24 | — | 216.9% | ||
| Q2 24 | -84.1% | -106.7% | ||
| Q1 24 | -392.1% | -31.9% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | 1.8% | 0.2% | ||
| Q1 25 | 16.6% | 0.9% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | 5.9% | 0.4% | ||
| Q1 24 | 4.7% | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | — | -4.98× | ||
| Q1 25 | — | 8.81× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.67× | ||
| Q2 24 | — | -6.92× | ||
| Q1 24 | — | -3.27× |
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% |
WSBF
Segment breakdown not available.
