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Canopy Growth Corp - Stock Quote CGC

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Morningstar's Canopy Growth Corp Stock Analysis

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As Shares Fall Amid Fiscal Fourth-Quarter Struggles, Canopy Pushes Back EBITDA Profitability to 2024

Analyst Note

| Kristoffer Inton |

Canopy Growth’s fiscal year 2022 didn’t end well, with a challenging recreational market leading a marked decline in both the top and bottom lines. Fourth-quarter revenue of CAD 112 million was down 25% over the prior year quarter while adjusted EBITDA losses grew 30%. For the full year, the company reported adjusted EBITDA losses of CAD 415 million on CAD 520 million revenue, representing wider losses on declining revenue. Even considering seasonality, the margin losses are troubling.

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Canopy Growth Corp's Company Profile

Business Description

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.

1 Hershey Drive
Smiths Falls, ON, K7A 0A8, Canada
T +1 855 558-9333
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Mar 31, 2022
Fiscal Year End Mar 31, 2023
Stock Type
Employees 3,151

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