vs
ACACIA RESEARCH CORP（ACTG）与Canopy Growth Corp（CGC）财务数据对比。点击上方公司名可切换其他公司
Canopy Growth Corp的季度营收约是ACACIA RESEARCH CORP的1.1倍（$54.4M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs -84.0%，领先90.8%），ACACIA RESEARCH CORP同比增速更快（2.6% vs -0.3%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 1.2%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
Canopy Growth Corp前身为Tweed Marijuana Inc，是一家总部位于加拿大安大略省史密斯福尔斯的大麻企业，在北美大麻行业拥有较高知名度，主要从事大麻相关产品的研发、生产与销售业务。
ACTG vs CGC — 直观对比
营收规模更大
CGC
是对方的1.1倍
$50.1M
营收增速更快
ACTG
高出2.9%
-0.3%
净利率更高
ACTG
高出90.8%
-84.0%
两年增速更快
ACTG
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $54.4M |
| 净利润 | $3.4M | $-45.7M |
| 毛利率 | 12.8% | 28.8% |
| 营业利润率 | -26.1% | -35.3% |
| 净利率 | 6.8% | -84.0% |
| 营收同比 | 2.6% | -0.3% |
| 净利润同比 | 125.5% | 48.6% |
| 每股收益（稀释后） | $0.03 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ACTGCGC
| Q4 25 | $50.1M | $54.4M | ||
| Q3 25 | $59.4M | $48.7M | ||
| Q2 25 | $51.2M | $52.7M | ||
| Q1 25 | $124.4M | $47.5M | ||
| Q4 24 | $48.8M | $54.6M | ||
| Q3 24 | $23.3M | $46.0M | ||
| Q2 24 | $25.8M | $48.3M | ||
| Q1 24 | $24.3M | $53.1M |
净利润ACTGCGC
| Q4 25 | $3.4M | $-45.7M | ||
| Q3 25 | $-2.7M | $-1.2M | ||
| Q2 25 | $-3.3M | $-30.3M | ||
| Q1 25 | $24.3M | — | ||
| Q4 24 | $-13.4M | $-89.0M | ||
| Q3 24 | $-14.0M | $-93.7M | ||
| Q2 24 | $-8.4M | $-92.8M | ||
| Q1 24 | $-186.0K | — |
毛利率ACTGCGC
| Q4 25 | 12.8% | 28.8% | ||
| Q3 25 | 21.2% | 32.8% | ||
| Q2 25 | 12.8% | 25.0% | ||
| Q1 25 | 47.4% | 16.2% | ||
| Q4 24 | 17.6% | 32.2% | ||
| Q3 24 | 10.1% | 34.7% | ||
| Q2 24 | 26.2% | 34.8% | ||
| Q1 24 | 49.2% | 21.3% |
营业利润率ACTGCGC
| Q4 25 | -26.1% | -35.3% | ||
| Q3 25 | -10.8% | -25.3% | ||
| Q2 25 | -24.2% | -31.4% | ||
| Q1 25 | 30.8% | — | ||
| Q4 24 | -32.4% | -31.9% | ||
| Q3 24 | -44.1% | -72.9% | ||
| Q2 24 | -18.4% | -44.0% | ||
| Q1 24 | -8.6% | — |
净利率ACTGCGC
| Q4 25 | 6.8% | -84.0% | ||
| Q3 25 | -4.6% | -2.5% | ||
| Q2 25 | -6.4% | -57.6% | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | -27.5% | -163.0% | ||
| Q3 24 | -60.0% | -203.7% | ||
| Q2 24 | -32.7% | -192.0% | ||
| Q1 24 | -0.8% | — |
每股收益（稀释后）ACTGCGC
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.14 | — | ||
| Q2 24 | $-0.08 | — | ||
| Q1 24 | $0.00 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $306.7M | $271.1M |
| 总债务越低越好 | $91.9M | — |
| 股东权益账面价值 | $543.5M | $553.5M |
| 总资产 | $771.0M | $807.5M |
| 负债/权益比越低杠杆越低 | 0.17× | — |
8季度趋势，按日历期对齐
现金及短期投资ACTGCGC
| Q4 25 | $306.7M | $271.1M | ||
| Q3 25 | $301.8M | $217.6M | ||
| Q2 25 | $316.7M | $104.8M | ||
| Q1 25 | $272.0M | $96.0M | ||
| Q4 24 | $273.9M | $130.2M | ||
| Q3 24 | $410.9M | $168.8M | ||
| Q2 24 | $441.9M | $142.3M | ||
| Q1 24 | $498.4M | $148.5M |
总债务ACTGCGC
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGCGC
| Q4 25 | $543.5M | $553.5M | ||
| Q3 25 | $537.6M | $537.3M | ||
| Q2 25 | $538.6M | $357.0M | ||
| Q1 25 | $540.2M | $355.7M | ||
| Q4 24 | $514.8M | $431.8M | ||
| Q3 24 | $540.2M | $372.1M | ||
| Q2 24 | $560.7M | $389.0M | ||
| Q1 24 | $568.3M | $365.3M |
总资产ACTGCGC
| Q4 25 | $771.0M | $807.5M | ||
| Q3 25 | $768.9M | $781.0M | ||
| Q2 25 | $775.5M | $660.4M | ||
| Q1 25 | $801.6M | $669.9M | ||
| Q4 24 | $756.4M | $849.9M | ||
| Q3 24 | $707.6M | $899.6M | ||
| Q2 24 | $753.6M | $938.9M | ||
| Q1 24 | $631.7M | $949.2M |
负债/权益比ACTGCGC
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $75.2M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 22.01× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ACTGCGC
| Q4 25 | $75.2M | — | ||
| Q3 25 | $9.5M | — | ||
| Q2 25 | $50.1M | $-7.5M | ||
| Q1 25 | $2.4M | $-121.0M | ||
| Q4 24 | $50.1M | — | ||
| Q3 24 | $-593.0K | — | ||
| Q2 24 | $16.1M | $-37.8M | ||
| Q1 24 | $54.8M | $-205.8M |
自由现金流ACTGCGC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-8.5M | ||
| Q1 25 | $335.0K | $-128.9M | ||
| Q4 24 | $-98.5M | — | ||
| Q3 24 | $-2.8M | — | ||
| Q2 24 | $-126.7M | $-40.7M | ||
| Q1 24 | $54.6M | $-208.3M |
自由现金流率ACTGCGC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -16.1% | ||
| Q1 25 | 0.3% | -271.5% | ||
| Q4 24 | -201.8% | — | ||
| Q3 24 | -12.1% | — | ||
| Q2 24 | -490.5% | -84.1% | ||
| Q1 24 | 224.4% | -392.1% |
资本支出强度ACTGCGC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | 1.7% | 16.6% | ||
| Q4 24 | 304.4% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 553.0% | 5.9% | ||
| Q1 24 | 1.1% | 4.7% |
现金转化率ACTGCGC
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
CGC
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
