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Canopy Growth Corp（CGC）与Cronos Group Inc.（CRON）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Cronos Group Inc.的1.2倍（$54.4M vs $44.5M）。Cronos Group Inc.净利率更高（-4.1% vs -84.0%，领先79.9%）。Cronos Group Inc.同比增速更快（47.0% vs -0.3%）。过去两年Cronos Group Inc.的营收复合增速更高（32.7% vs 1.2%）
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。
Cronos集团是全球性大麻素企业，主营大麻种植、加工及相关衍生产品的分销业务，产品线覆盖健康补充剂、快消品及医用大麻品类，主要服务北美、欧洲、亚太地区的合规娱乐与医用消费市场，严格遵循各地监管要求保障产品品质。
CGC vs CRON — 直观对比
营收规模更大
CGC
是对方的1.2倍
$44.5M
营收增速更快
CRON
高出47.3%
-0.3%
净利率更高
CRON
高出79.9%
-84.0%
两年增速更快
CRON
近两年复合增速
1.2%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $54.4M | $44.5M |
| 净利润 | $-45.7M | $-1.8M |
| 毛利率 | 28.8% | 36.4% |
| 营业利润率 | -35.3% | -16.8% |
| 净利率 | -84.0% | -4.1% |
| 营收同比 | -0.3% | 47.0% |
| 净利润同比 | 48.6% | -104.2% |
| 每股收益（稀释后） | — | $-0.01 |
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CGCCRON
| Q4 25 | $54.4M | $44.5M | ||
| Q3 25 | $48.7M | $36.3M | ||
| Q2 25 | $52.7M | $33.5M | ||
| Q1 25 | $47.5M | $32.3M | ||
| Q4 24 | $54.6M | $30.3M | ||
| Q3 24 | $46.0M | $34.3M | ||
| Q2 24 | $48.3M | $27.8M | ||
| Q1 24 | $53.1M | $25.3M |
净利润CGCCRON
| Q4 25 | $-45.7M | $-1.8M | ||
| Q3 25 | $-1.2M | $26.0M | ||
| Q2 25 | $-30.3M | $-39.7M | ||
| Q1 25 | — | $6.1M | ||
| Q4 24 | $-89.0M | $43.7M | ||
| Q3 24 | $-93.7M | $8.3M | ||
| Q2 24 | $-92.8M | $-8.8M | ||
| Q1 24 | — | $-2.2M |
毛利率CGCCRON
| Q4 25 | 28.8% | 36.4% | ||
| Q3 25 | 32.8% | 50.4% | ||
| Q2 25 | 25.0% | 43.4% | ||
| Q1 25 | 16.2% | 42.6% | ||
| Q4 24 | 32.2% | 35.7% | ||
| Q3 24 | 34.7% | 10.5% | ||
| Q2 24 | 34.8% | 22.7% | ||
| Q1 24 | 21.3% | 17.7% |
营业利润率CGCCRON
| Q4 25 | -35.3% | -16.8% | ||
| Q3 25 | -25.3% | -1.4% | ||
| Q2 25 | -31.4% | -15.9% | ||
| Q1 25 | — | -12.6% | ||
| Q4 24 | -31.9% | -37.5% | ||
| Q3 24 | -72.9% | -98.2% | ||
| Q2 24 | -44.0% | -56.1% | ||
| Q1 24 | — | -63.1% |
净利率CGCCRON
| Q4 25 | -84.0% | -4.1% | ||
| Q3 25 | -2.5% | 71.4% | ||
| Q2 25 | -57.6% | -118.7% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | -163.0% | 144.3% | ||
| Q3 24 | -203.7% | 24.4% | ||
| Q2 24 | -192.0% | -31.5% | ||
| Q1 24 | — | -8.9% |
每股收益（稀释后）CGCCRON
| Q4 25 | — | $-0.01 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $-0.10 | ||
| Q1 25 | — | $0.02 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.02 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.01 |
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 | $271.1M | $831.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $553.5M | $1.1B |
| 总资产 | $807.5M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CGCCRON
| Q4 25 | $271.1M | $831.8M | ||
| Q3 25 | $217.6M | $824.2M | ||
| Q2 25 | $104.8M | $834.4M | ||
| Q1 25 | $96.0M | $837.8M | ||
| Q4 24 | $130.2M | $858.8M | ||
| Q3 24 | $168.8M | $862.0M | ||
| Q2 24 | $142.3M | $848.2M | ||
| Q1 24 | $148.5M | $855.1M |
股东权益CGCCRON
| Q4 25 | $553.5M | $1.1B | ||
| Q3 25 | $537.3M | $1.1B | ||
| Q2 25 | $357.0M | $1.1B | ||
| Q1 25 | $355.7M | $1.1B | ||
| Q4 24 | $431.8M | $1.1B | ||
| Q3 24 | $372.1M | $1.1B | ||
| Q2 24 | $389.0M | $1.1B | ||
| Q1 24 | $365.3M | $1.1B |
总资产CGCCRON
| Q4 25 | $807.5M | $1.2B | ||
| Q3 25 | $781.0M | $1.2B | ||
| Q2 25 | $660.4M | $1.2B | ||
| Q1 25 | $669.9M | $1.2B | ||
| Q4 24 | $849.9M | $1.2B | ||
| Q3 24 | $899.6M | $1.2B | ||
| Q2 24 | $938.9M | $1.1B | ||
| Q1 24 | $949.2M | $1.1B |
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 | — | $11.8M |
| 自由现金流经营现金流 - 资本支出 | — | $9.7M |
| 自由现金流率自由现金流/营收 | — | 21.8% |
| 资本支出强度资本支出/营收 | — | 4.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $149.0K |
8季度趋势，按日历期对齐
经营现金流CGCCRON
| Q4 25 | — | $11.8M | ||
| Q3 25 | — | $13.3M | ||
| Q2 25 | $-7.5M | $2.8M | ||
| Q1 25 | $-121.0M | $-2.1M | ||
| Q4 24 | — | $7.7M | ||
| Q3 24 | — | $11.6M | ||
| Q2 24 | $-37.8M | $1.7M | ||
| Q1 24 | $-205.8M | $-2.2M |
自由现金流CGCCRON
| Q4 25 | — | $9.7M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | $-8.5M | $-1.0M | ||
| Q1 25 | $-128.9M | $-17.4M | ||
| Q4 24 | — | $4.2M | ||
| Q3 24 | — | $5.2M | ||
| Q2 24 | $-40.7M | $1.0M | ||
| Q1 24 | $-208.3M | $-3.9M |
自由现金流率CGCCRON
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | -16.1% | -3.0% | ||
| Q1 25 | -271.5% | -53.8% | ||
| Q4 24 | — | 13.8% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | -84.1% | 3.7% | ||
| Q1 24 | -392.1% | -15.5% |
资本支出强度CGCCRON
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 12.3% | ||
| Q2 25 | 1.8% | 11.5% | ||
| Q1 25 | 16.6% | 47.3% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 18.7% | ||
| Q2 24 | 5.9% | 2.6% | ||
| Q1 24 | 4.7% | 6.8% |
现金转化率CGCCRON
| Q4 25 | — | — | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.34× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 1.39× | ||
| 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
CGC
| CA | $45.4M | 84% |
| International Markets Cannabis | $6.2M | 11% |
| Other | $1.5M | 3% |
| Other Geographical Area | $1.2M | 2% |
CRON
| Cannabis Flower | $33.7M | 76% |
| Cannabis Extracts | $10.8M | 24% |
