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Canopy Growth Corp（CGC）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是Canopy Growth Corp的1.7倍（$90.6M vs $54.4M），MP Materials Corp.净利率更高（-8.8% vs -84.0%，领先75.2%），MP Materials Corp.同比增速更快（49.1% vs -0.3%），过去两年MP Materials Corp.的营收复合增速更高（70.3% 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。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
CGC vs MP — 直观对比
营收规模更大
MP
是对方的1.7倍
$54.4M
营收增速更快
MP
高出49.4%
-0.3%
净利率更高
MP
高出75.2%
-84.0%
两年增速更快
MP
近两年复合增速
1.2%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $54.4M | $90.6M |
| 净利润 | $-45.7M | $-8.0M |
| 毛利率 | 28.8% | — |
| 营业利润率 | -35.3% | — |
| 净利率 | -84.0% | -8.8% |
| 营收同比 | -0.3% | 49.1% |
| 净利润同比 | 48.6% | 64.8% |
| 每股收益（稀释后） | — | $-0.04 |
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CGCMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $54.4M | $52.7M | ||
| Q3 25 | $48.7M | $53.6M | ||
| Q2 25 | $52.7M | $57.4M | ||
| Q1 25 | $47.5M | $60.8M | ||
| Q4 24 | $54.6M | $61.0M | ||
| Q3 24 | $46.0M | $62.9M | ||
| Q2 24 | $48.3M | $31.3M |
净利润CGCMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $-45.7M | $9.4M | ||
| Q3 25 | $-1.2M | $-41.8M | ||
| Q2 25 | $-30.3M | $-30.9M | ||
| Q1 25 | — | $-22.6M | ||
| Q4 24 | $-89.0M | $-22.3M | ||
| Q3 24 | $-93.7M | $-25.5M | ||
| Q2 24 | $-92.8M | $-34.1M |
毛利率CGCMP
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CGCMP
| Q1 26 | — | — | ||
| Q4 25 | -35.3% | -7.0% | ||
| Q3 25 | -25.3% | -125.2% | ||
| Q2 25 | -31.4% | -76.5% | ||
| Q1 25 | — | -57.2% | ||
| Q4 24 | -31.9% | -72.1% | ||
| Q3 24 | -72.9% | -62.8% | ||
| Q2 24 | -44.0% | -171.1% |
净利率CGCMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | -84.0% | 17.9% | ||
| Q3 25 | -2.5% | -78.0% | ||
| Q2 25 | -57.6% | -53.8% | ||
| Q1 25 | — | -37.2% | ||
| Q4 24 | -163.0% | -36.6% | ||
| Q3 24 | -203.7% | -40.5% | ||
| Q2 24 | -192.0% | -108.9% |
每股收益（稀释后）CGCMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | — | $0.07 | ||
| Q3 25 | — | $-0.24 | ||
| Q2 25 | — | $-0.19 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-0.21 |
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 | $1.7B |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $553.5M | $2.0B |
| 总资产 | $807.5M | $3.8B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资CGCMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $271.1M | $1.2B | ||
| Q3 25 | $217.6M | $1.1B | ||
| Q2 25 | $104.8M | $261.5M | ||
| Q1 25 | $96.0M | $198.3M | ||
| Q4 24 | $130.2M | $282.4M | ||
| Q3 24 | $168.8M | $284.4M | ||
| Q2 24 | $142.3M | $295.6M |
总债务CGCMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $998.7M | ||
| Q3 25 | — | $997.3M | ||
| Q2 25 | — | $910.8M | ||
| Q1 25 | — | $909.8M | ||
| Q4 24 | — | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CGCMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $553.5M | $2.0B | ||
| Q3 25 | $537.3M | $2.0B | ||
| Q2 25 | $357.0M | $1.0B | ||
| Q1 25 | $355.7M | $1.0B | ||
| Q4 24 | $431.8M | $1.1B | ||
| Q3 24 | $372.1M | $1.1B | ||
| Q2 24 | $389.0M | $1.1B |
总资产CGCMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $807.5M | $3.9B | ||
| Q3 25 | $781.0M | $3.8B | ||
| Q2 25 | $660.4M | $2.3B | ||
| Q1 25 | $669.9M | $2.4B | ||
| Q4 24 | $849.9M | $2.3B | ||
| Q3 24 | $899.6M | $2.3B | ||
| Q2 24 | $938.9M | $2.4B |
负债/权益比CGCMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-1.9M |
| 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 | — | — |
| 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CGCMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | — | $-46.9M | ||
| Q3 25 | — | $-42.0M | ||
| Q2 25 | $-7.5M | $-3.7M | ||
| Q1 25 | $-121.0M | $-63.2M | ||
| Q4 24 | — | $30.5M | ||
| Q3 24 | — | $-6.8M | ||
| Q2 24 | $-37.8M | $30.8M |
自由现金流CGCMP
| Q1 26 | — | — | ||
| Q4 25 | — | $-109.3M | ||
| Q3 25 | — | $-92.5M | ||
| Q2 25 | $-8.5M | $-32.7M | ||
| Q1 25 | $-128.9M | $-93.7M | ||
| Q4 24 | — | $-11.2M | ||
| Q3 24 | — | $-53.3M | ||
| Q2 24 | $-40.7M | $-15.6M |
自由现金流率CGCMP
| Q1 26 | — | — | ||
| Q4 25 | — | -207.4% | ||
| Q3 25 | — | -172.8% | ||
| Q2 25 | -16.1% | -56.9% | ||
| Q1 25 | -271.5% | -154.0% | ||
| Q4 24 | — | -18.3% | ||
| Q3 24 | — | -84.7% | ||
| Q2 24 | -84.1% | -50.1% |
资本支出强度CGCMP
| Q1 26 | — | — | ||
| Q4 25 | — | 118.5% | ||
| Q3 25 | — | 94.3% | ||
| Q2 25 | 1.8% | 50.5% | ||
| Q1 25 | 16.6% | 50.1% | ||
| Q4 24 | — | 68.3% | ||
| Q3 24 | — | 73.8% | ||
| Q2 24 | 5.9% | 148.7% |
现金转化率CGCMP
| Q1 26 | — | — | ||
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
