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Canopy Growth Corp（CGC）与Tilray Brands, Inc.（TLRY）财务数据对比。点击上方公司名可切换其他公司
Tilray Brands, Inc.的季度营收约是Canopy Growth Corp的4.0倍（$217.5M vs $54.4M）。Tilray Brands, Inc.净利率更高（-20.7% vs -84.0%，领先63.4%）。Tilray Brands, Inc.同比增速更快（3.1% vs -0.3%）。过去两年Tilray Brands, Inc.的营收复合增速更高（7.5% 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。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
CGC vs TLRY — 直观对比
营收规模更大
TLRY
是对方的4.0倍
$54.4M
营收增速更快
TLRY
高出3.4%
-0.3%
净利率更高
TLRY
高出63.4%
-84.0%
两年增速更快
TLRY
近两年复合增速
1.2%
损益表 — Q3 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $54.4M | $217.5M |
| 净利润 | $-45.7M | $-44.9M |
| 毛利率 | 28.8% | 26.4% |
| 营业利润率 | -35.3% | -10.2% |
| 净利率 | -84.0% | -20.7% |
| 营收同比 | -0.3% | 3.1% |
| 净利润同比 | 48.6% | 47.4% |
| 每股收益（稀释后） | — | $-0.41 |
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CGCTLRY
| Q4 25 | $54.4M | $217.5M | ||
| Q3 25 | $48.7M | $209.5M | ||
| Q2 25 | $52.7M | $224.5M | ||
| Q1 25 | $47.5M | $185.8M | ||
| Q4 24 | $54.6M | $210.9M | ||
| Q3 24 | $46.0M | $200.0M | ||
| Q2 24 | $48.3M | $229.9M | ||
| Q1 24 | $53.1M | $188.3M |
净利润CGCTLRY
| Q4 25 | $-45.7M | $-44.9M | ||
| Q3 25 | $-1.2M | $-322.0K | ||
| Q2 25 | $-30.3M | $-1.3B | ||
| Q1 25 | — | $-789.4M | ||
| Q4 24 | $-89.0M | $-85.3M | ||
| Q3 24 | $-93.7M | $-39.2M | ||
| Q2 24 | $-92.8M | $-31.7M | ||
| Q1 24 | — | $-92.7M |
毛利率CGCTLRY
| Q4 25 | 28.8% | 26.4% | ||
| Q3 25 | 32.8% | 27.4% | ||
| Q2 25 | 25.0% | 30.1% | ||
| Q1 25 | 16.2% | 28.0% | ||
| Q4 24 | 32.2% | 29.0% | ||
| Q3 24 | 34.7% | 29.8% | ||
| Q2 24 | 34.8% | 35.8% | ||
| Q1 24 | 21.3% | 26.2% |
营业利润率CGCTLRY
| Q4 25 | -35.3% | -10.2% | ||
| Q3 25 | -25.3% | 1.0% | ||
| Q2 25 | -31.4% | -643.1% | ||
| Q1 25 | — | -409.0% | ||
| Q4 24 | -31.9% | -20.0% | ||
| Q3 24 | -72.9% | -18.3% | ||
| Q2 24 | -44.0% | -7.2% | ||
| Q1 24 | — | -43.6% |
净利率CGCTLRY
| Q4 25 | -84.0% | -20.7% | ||
| Q3 25 | -2.5% | -0.2% | ||
| Q2 25 | -57.6% | -566.9% | ||
| Q1 25 | — | -424.9% | ||
| Q4 24 | -163.0% | -40.5% | ||
| Q3 24 | -203.7% | -19.6% | ||
| Q2 24 | -192.0% | -13.8% | ||
| Q1 24 | — | -49.2% |
每股收益（稀释后）CGCTLRY
| Q4 25 | — | $-0.41 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $7.26 | ||
| Q1 25 | — | $-8.69 | ||
| Q4 24 | — | $-0.99 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-0.12 |
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 | $291.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $553.5M | $1.6B |
| 总资产 | $807.5M | $2.1B |
| 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CGCTLRY
| Q4 25 | $271.1M | $291.6M | ||
| Q3 25 | $217.6M | $264.8M | ||
| Q2 25 | $104.8M | $256.4M | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $130.2M | $252.2M | ||
| Q3 24 | $168.8M | $280.1M | ||
| Q2 24 | $142.3M | $260.5M | ||
| Q1 24 | $148.5M | $225.9M |
股东权益CGCTLRY
| Q4 25 | $553.5M | $1.6B | ||
| Q3 25 | $537.3M | $1.5B | ||
| Q2 25 | $357.0M | $1.5B | ||
| Q1 25 | $355.7M | $2.7B | ||
| Q4 24 | $431.8M | $3.5B | ||
| Q3 24 | $372.1M | $3.5B | ||
| Q2 24 | $389.0M | $3.4B | ||
| Q1 24 | $365.3M | $3.4B |
总资产CGCTLRY
| Q4 25 | $807.5M | $2.1B | ||
| Q3 25 | $781.0M | $2.1B | ||
| Q2 25 | $660.4M | $2.1B | ||
| Q1 25 | $669.9M | — | ||
| Q4 24 | $849.9M | $4.2B | ||
| Q3 24 | $899.6M | $4.3B | ||
| Q2 24 | $938.9M | $4.2B | ||
| Q1 24 | $949.2M | $4.2B |
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 | — | $-8.5M |
| 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CGCTLRY
| Q4 25 | — | $-8.5M | ||
| Q3 25 | — | $-1.3M | ||
| Q2 25 | $-7.5M | $-12.8M | ||
| Q1 25 | $-121.0M | $-5.8M | ||
| Q4 24 | — | $-40.7M | ||
| Q3 24 | — | $-35.3M | ||
| Q2 24 | $-37.8M | $30.7M | ||
| Q1 24 | $-205.8M | $-15.4M |
自由现金流CGCTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-8.5M | $-19.1M | ||
| Q1 25 | $-128.9M | $-20.2M | ||
| Q4 24 | — | $-46.2M | ||
| Q3 24 | — | $-42.0M | ||
| Q2 24 | $-40.7M | $21.0M | ||
| Q1 24 | $-208.3M | $-24.9M |
自由现金流率CGCTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -16.1% | -8.5% | ||
| Q1 25 | -271.5% | -10.9% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | — | -21.0% | ||
| Q2 24 | -84.1% | 9.1% | ||
| Q1 24 | -392.1% | -13.2% |
资本支出强度CGCTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.8% | 2.8% | ||
| Q1 25 | 16.6% | 7.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | 5.9% | 4.2% | ||
| Q1 24 | 4.7% | 5.1% |
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% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
