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Canopy Growth Corp（CGC）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
RE/MAX Holdings, Inc.的季度营收约是Canopy Growth Corp的1.3倍（$71.1M vs $54.4M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -84.0%，领先86.0%），Canopy Growth Corp同比增速更快（-0.3% vs -1.8%），过去两年Canopy Growth Corp的营收复合增速更高（1.2% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
CGC vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.3倍
$54.4M
营收增速更快
CGC
高出1.5%
-1.8%
净利率更高
RMAX
高出86.0%
-84.0%
两年增速更快
CGC
近两年复合增速
-4.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $54.4M | $71.1M |
| 净利润 | $-45.7M | $1.4M |
| 毛利率 | 28.8% | — |
| 营业利润率 | -35.3% | 13.1% |
| 净利率 | -84.0% | 2.0% |
| 营收同比 | -0.3% | -1.8% |
| 净利润同比 | 48.6% | -75.2% |
| 每股收益（稀释后） | — | — |
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CGCRMAX
| Q4 25 | $54.4M | $71.1M | ||
| Q3 25 | $48.7M | $73.2M | ||
| Q2 25 | $52.7M | $72.8M | ||
| Q1 25 | $47.5M | $74.5M | ||
| Q4 24 | $54.6M | $72.5M | ||
| Q3 24 | $46.0M | $78.5M | ||
| Q2 24 | $48.3M | $78.5M | ||
| Q1 24 | $53.1M | $78.3M |
净利润CGCRMAX
| Q4 25 | $-45.7M | $1.4M | ||
| Q3 25 | $-1.2M | $4.0M | ||
| Q2 25 | $-30.3M | $4.7M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $-89.0M | $5.8M | ||
| Q3 24 | $-93.7M | $966.0K | ||
| Q2 24 | $-92.8M | $3.7M | ||
| Q1 24 | — | $-3.4M |
毛利率CGCRMAX
| 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% | — |
营业利润率CGCRMAX
| Q4 25 | -35.3% | 13.1% | ||
| Q3 25 | -25.3% | 25.0% | ||
| Q2 25 | -31.4% | 19.3% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | -31.9% | 5.9% | ||
| Q3 24 | -72.9% | 19.4% | ||
| Q2 24 | -44.0% | 20.6% | ||
| Q1 24 | — | 5.8% |
净利率CGCRMAX
| Q4 25 | -84.0% | 2.0% | ||
| Q3 25 | -2.5% | 5.4% | ||
| Q2 25 | -57.6% | 6.4% | ||
| Q1 25 | — | -2.6% | ||
| Q4 24 | -163.0% | 8.0% | ||
| Q3 24 | -203.7% | 1.2% | ||
| Q2 24 | -192.0% | 4.7% | ||
| Q1 24 | — | -4.3% |
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 | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $553.5M | $452.4M |
| 总资产 | $807.5M | $582.5M |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资CGCRMAX
| Q4 25 | $271.1M | $118.7M | ||
| Q3 25 | $217.6M | $107.5M | ||
| Q2 25 | $104.8M | $94.3M | ||
| Q1 25 | $96.0M | $89.1M | ||
| Q4 24 | $130.2M | $96.6M | ||
| Q3 24 | $168.8M | $83.8M | ||
| Q2 24 | $142.3M | $66.1M | ||
| Q1 24 | $148.5M | $82.1M |
总债务CGCRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益CGCRMAX
| Q4 25 | $553.5M | $452.4M | ||
| Q3 25 | $537.3M | $448.1M | ||
| Q2 25 | $357.0M | $442.4M | ||
| Q1 25 | $355.7M | $433.5M | ||
| Q4 24 | $431.8M | $429.5M | ||
| Q3 24 | $372.1M | $423.1M | ||
| Q2 24 | $389.0M | $418.4M | ||
| Q1 24 | $365.3M | $412.0M |
总资产CGCRMAX
| Q4 25 | $807.5M | $582.5M | ||
| Q3 25 | $781.0M | $582.2M | ||
| Q2 25 | $660.4M | $574.8M | ||
| Q1 25 | $669.9M | $571.4M | ||
| Q4 24 | $849.9M | $581.6M | ||
| Q3 24 | $899.6M | $578.6M | ||
| Q2 24 | $938.9M | $571.4M | ||
| Q1 24 | $949.2M | $566.7M |
负债/权益比CGCRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | — | $40.9M |
| 自由现金流经营现金流 - 资本支出 | — | $33.5M |
| 自由现金流率自由现金流/营收 | — | 47.1% |
| 资本支出强度资本支出/营收 | — | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | — | $56.8M |
8季度趋势，按日历期对齐
经营现金流CGCRMAX
| Q4 25 | — | $40.9M | ||
| Q3 25 | — | $17.7M | ||
| Q2 25 | $-7.5M | $4.6M | ||
| Q1 25 | $-121.0M | $5.7M | ||
| Q4 24 | — | $59.7M | ||
| Q3 24 | — | $17.6M | ||
| Q2 24 | $-37.8M | $15.9M | ||
| Q1 24 | $-205.8M | $9.4M |
自由现金流CGCRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | $-8.5M | $2.9M | ||
| Q1 25 | $-128.9M | $4.0M | ||
| Q4 24 | — | $53.0M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | $-40.7M | $14.0M | ||
| Q1 24 | $-208.3M | $6.8M |
自由现金流率CGCRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | -16.1% | 4.0% | ||
| Q1 25 | -271.5% | 5.3% | ||
| Q4 24 | — | 73.2% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | -84.1% | 17.8% | ||
| Q1 24 | -392.1% | 8.6% |
资本支出强度CGCRMAX
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | 1.8% | 2.2% | ||
| Q1 25 | 16.6% | 2.3% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | 5.9% | 2.4% | ||
| Q1 24 | 4.7% | 3.3% |
现金转化率CGCRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
