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Canopy Growth Corp（CGC）与TELOS CORP（TLS）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TELOS CORP的1.2倍（$54.4M vs $46.8M），TELOS CORP净利率更高（-34.9% vs -84.0%，领先49.1%），TELOS CORP同比增速更快（77.4% vs -0.3%），过去两年TELOS CORP的营收复合增速更高（25.7% 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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
CGC vs TLS — 直观对比
营收规模更大
CGC
是对方的1.2倍
$46.8M
营收增速更快
TLS
高出77.7%
-0.3%
净利率更高
TLS
高出49.1%
-84.0%
两年增速更快
TLS
近两年复合增速
1.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $54.4M | $46.8M |
| 净利润 | $-45.7M | $-16.3M |
| 毛利率 | 28.8% | 35.0% |
| 营业利润率 | -35.3% | -39.6% |
| 净利率 | -84.0% | -34.9% |
| 营收同比 | -0.3% | 77.4% |
| 净利润同比 | 48.6% | -74.8% |
| 每股收益（稀释后） | — | $-0.22 |
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CGCTLS
| Q4 25 | $54.4M | $46.8M | ||
| Q3 25 | $48.7M | $51.4M | ||
| Q2 25 | $52.7M | $36.0M | ||
| Q1 25 | $47.5M | $30.6M | ||
| Q4 24 | $54.6M | $26.4M | ||
| Q3 24 | $46.0M | $23.8M | ||
| Q2 24 | $48.3M | $28.5M | ||
| Q1 24 | $53.1M | $29.6M |
净利润CGCTLS
| Q4 25 | $-45.7M | $-16.3M | ||
| Q3 25 | $-1.2M | $-2.1M | ||
| Q2 25 | $-30.3M | $-9.5M | ||
| Q1 25 | — | $-8.6M | ||
| Q4 24 | $-89.0M | $-9.3M | ||
| Q3 24 | $-93.7M | $-28.1M | ||
| Q2 24 | $-92.8M | $-7.8M | ||
| Q1 24 | — | $-7.4M |
毛利率CGCTLS
| Q4 25 | 28.8% | 35.0% | ||
| Q3 25 | 32.8% | 39.9% | ||
| Q2 25 | 25.0% | 33.2% | ||
| Q1 25 | 16.2% | 39.8% | ||
| Q4 24 | 32.2% | 40.3% | ||
| Q3 24 | 34.7% | 13.2% | ||
| Q2 24 | 34.8% | 34.1% | ||
| Q1 24 | 21.3% | 37.0% |
营业利润率CGCTLS
| Q4 25 | -35.3% | -39.6% | ||
| Q3 25 | -25.3% | -4.8% | ||
| Q2 25 | -31.4% | -27.5% | ||
| Q1 25 | — | -29.5% | ||
| Q4 24 | -31.9% | -37.6% | ||
| Q3 24 | -72.9% | -121.4% | ||
| Q2 24 | -44.0% | -30.3% | ||
| Q1 24 | — | -28.5% |
净利率CGCTLS
| Q4 25 | -84.0% | -34.9% | ||
| Q3 25 | -2.5% | -4.1% | ||
| Q2 25 | -57.6% | -26.5% | ||
| Q1 25 | — | -28.1% | ||
| Q4 24 | -163.0% | -35.4% | ||
| Q3 24 | -203.7% | -118.0% | ||
| Q2 24 | -192.0% | -27.2% | ||
| Q1 24 | — | -24.9% |
每股收益（稀释后）CGCTLS
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | — | $-0.39 | ||
| Q2 24 | — | $-0.11 | ||
| Q1 24 | — | $-0.10 |
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 | $53.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $553.5M | $96.0M |
| 总资产 | $807.5M | $139.9M |
| 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CGCTLS
| Q4 25 | $271.1M | $53.2M | ||
| Q3 25 | $217.6M | $59.0M | ||
| Q2 25 | $104.8M | $57.0M | ||
| Q1 25 | $96.0M | $57.8M | ||
| Q4 24 | $130.2M | $54.6M | ||
| Q3 24 | $168.8M | $69.8M | ||
| Q2 24 | $142.3M | $80.1M | ||
| Q1 24 | $148.5M | $93.9M |
股东权益CGCTLS
| Q4 25 | $553.5M | $96.0M | ||
| Q3 25 | $537.3M | $119.7M | ||
| Q2 25 | $357.0M | $118.4M | ||
| Q1 25 | $355.7M | $126.1M | ||
| Q4 24 | $431.8M | $127.1M | ||
| Q3 24 | $372.1M | $129.5M | ||
| Q2 24 | $389.0M | $149.1M | ||
| Q1 24 | $365.3M | $154.4M |
总资产CGCTLS
| Q4 25 | $807.5M | $139.9M | ||
| Q3 25 | $781.0M | $164.3M | ||
| Q2 25 | $660.4M | $165.0M | ||
| Q1 25 | $669.9M | $158.1M | ||
| Q4 24 | $849.9M | $158.2M | ||
| Q3 24 | $899.6M | $166.3M | ||
| Q2 24 | $938.9M | $182.4M | ||
| Q1 24 | $949.2M | $195.4M |
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 | — | $8.0M |
| 自由现金流经营现金流 - 资本支出 | — | $8.0M |
| 自由现金流率自由现金流/营收 | — | 17.0% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 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 | — | $29.4M |
8季度趋势，按日历期对齐
经营现金流CGCTLS
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $9.1M | ||
| Q2 25 | $-7.5M | $7.0M | ||
| Q1 25 | $-121.0M | $6.1M | ||
| Q4 24 | — | $-10.5M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | $-37.8M | $-8.0M | ||
| Q1 24 | $-205.8M | $-350.0K |
自由现金流CGCTLS
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | $-8.5M | $6.8M | ||
| Q1 25 | $-128.9M | $6.0M | ||
| Q4 24 | — | $-12.4M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | $-40.7M | $-8.2M | ||
| Q1 24 | $-208.3M | $-447.0K |
自由现金流率CGCTLS
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | -16.1% | 19.0% | ||
| Q1 25 | -271.5% | 19.5% | ||
| Q4 24 | — | -47.0% | ||
| Q3 24 | — | -30.0% | ||
| Q2 24 | -84.1% | -28.9% | ||
| Q1 24 | -392.1% | -1.5% |
资本支出强度CGCTLS
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 1.8% | 0.4% | ||
| Q1 25 | 16.6% | 0.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | 5.9% | 0.8% | ||
| Q1 24 | 4.7% | 0.3% |
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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
