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Canopy Growth Corporation (CGC)

Nasdaq: CGC · Medicinal Chemicals & Botanical Products · Smith Falls, ON · filing with the SEC since 2018
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Grade2.7
◀ Past 1.4● Present 2.5▶ Future 4.4
1 est.
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The grade of Canopy Growth Corporation

Nine metrics read from its own filings, by tense
Headline grade
2.7/10
◀ Past1.430% of the headline
● Present2.540% of the headline
▶ Future4.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
0.8/10

Has it survived what it has been through?

9 warning events since 2018; the latest 2026-10-16.

weight 33% of this tense · 8th percentile among 20 sector filers · read for itself

From the record

Canopy Growth Corporation's filings since 2018 show 9 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2026-10-16); a warning not to rely on past financial statements (8-K item 4.02, 2 times, the latest 2026-05-15); an auditor change (8-K item 4.01, 2 times, the latest 2026-08-07); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2023-06-14) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
1.8/10

What has it actually done, year after year?

+17.6% a year over 9 filed years; profitable in 0 of 10.

weight 45% of this tense · 18th percentile among 18 sector filers · read for its customers

From the record

Canopy Growth Corporation's 9 filed years say what it did: revenue went from CAD 78 million in fiscal 2018 to CAD 285 million in fiscal 2026, up 17.6% a year; it rose in 4 of 8 years; the deepest fall was 51% from fiscal 2021 to fiscal 2025; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span17.6%bottom 31% of its family
  • the share of years revenue rosebottom 19% of its family
  • the share of filed years with a profitbottom 14% of its family
  • the deepest fall from a revenue peak50.8%bottom 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
1.4/10

How has it treated the people who own it?

SI estimate 1.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 14th percentile among 18 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 14% of 18 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 18 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Canopy Growth Corporation's shareholder treatment is put at 1.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 14% of 18 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.5/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
3.3/10

Is it financially healthy right now?

ROE -38%: lost 38¢ per shareholder dollar. Leverage 38%: owes 38¢ per asset dollar.

weight 45% of this tense · 33rd percentile among 20 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2026-03-31, Canopy Growth Corporation lost about 38 cents for every dollar of shareholders' money, and gross profitability: its products earned about 6 cents per dollar of everything the company owns. Leverage: it owed about 38 cents per dollar of assets, and net share issuance: its share count grew 177.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 47% of its family
  • return on equitybottom 41% of its family
  • gross profit against assetsbottom 26% of its family
  • the share count against the year beforebottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
1.7/10

How strong is its position in its industry?

bottom 17% of 18 in its family; net margin -92.4%.

weight 33% of this tense · 17th percentile among 18 sector filers · read for its customers

From the record

Canopy Growth Corporation's standing among 18 graded names in its industry family: revenue of CAD 285 million in fiscal 2026 is not ranked by size, since the family reports in another currency; a net margin of -92.4% ranks in the bottom 14%; revenue growth of -5.1% a year over the last 3 filed years ranks in the bottom 19% (its annual reports).

What it rests on

  • net margin-92.4%bottom 14% of its family
  • three-year revenue growth-5.1%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.0/10

What are the people in charge doing?

bottom 20% of 12 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 20th percentile among 12 sector filers · read for its shareholders

From the record

Canopy Growth Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Mongeau, Luc (Chief Executive Officer, as filed), filing under that title since 2025-02-13, 1.7 years (bottom 35% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 3.5 years (bottom 14%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge8 in three years among 8 peoplebottom 13% of its family
  • the median years the people in charge have filed3.5 yearsbottom 14% of its family
  • the chief executive's years on the record1.7 yearsbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.3/10

How much room does it have to grow?

bottom 33% of 18 in its family for room to expand.

weight 45% of this tense · 33rd percentile among 18 sector filers · read for itself

From the record

Canopy Growth Corporation's room to grow, from the newest filed statements (fiscal 2026): cash of CAD 365 million against debt of CAD 217 million leaves 13.2% of its assets as net cash, top 39% of its family; cash from operations less capital spending is -24.3% of revenue (bottom 14%); a gross margin of 24.5% (bottom 26%); research spending of 0.9% of revenue (bottom 32%) (its annual report).

What it rests on

  • cash less debt against assets13.2%top 39% of its family
  • cash from operations less capital spending against revenue-24.3%bottom 14% of its family
  • gross margin24.5%bottom 26% of its family
  • research spending against revenue0.9%bottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
3.4/10

What could actually drive growth from here?

bottom 34% of 18 in its family for growth drivers.

weight 33% of this tense · 34th percentile among 18 sector filers · read for its customers

From the record

Canopy Growth Corporation's growth drivers, from the filed years to fiscal 2026: revenue grew -5.1% a year over the last three filed years against 17.6% over all 9, slowing (bottom 42% of its family); the newest year grew 5.8% (top 47%); research spending grew -50.6% a year (bottom 4%); capital spending grew -16.4% a year (bottom 38%) (its annual reports). Canopy Growth Corporation reported 2 lines of business in fiscal 2026: Cannabis at CAD 214 million (75%), Storz and Bickel at CAD 71 million (25%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-22.7 points a yearbottom 42% of its family
  • the newest year's revenue growth5.8%top 47% of its family
  • three-year growth of research spending-50.6%bottom 4% of its family
  • three-year growth of capital spending-16.4%bottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
7.9/10

Did its newest year beat what its own record pointed to?

top 21% of 18 in its family for expectations against reality.

weight 22% of this tense · 79th percentile among 18 sector filers · read for its shareholders

From the record

Canopy Growth Corporation's newest year against its own record: revenue of CAD 285 million in fiscal 2026 came in 17.8% above the CAD 242 million its prior three years' pace pointed to (top 14% of its family); net income of CAD 263 million against a prior three-year average of CAD 1.5 billion (top 42%); a net margin of -92.4% against losses larger than its revenue before (top 8%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace17.8%top 14% of its family
  • net income against the prior three years' average+83%top 42% of its family
  • net margin against its prior averageup more than 100 pointstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton CGC · research, not advice