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Canopy Growth Corp CGC

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Morningstar’s Analysis

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Canopy Growth Shares Rise 8% as Losses Narrow in Q1 on Long Path to Profitability; Still Undervalued

Analyst Note

| Kristoffer Inton |

On Aug. 10, Canopy Growth reported promising first-quarter results highlighted by a 22% increase in net revenue from the prior year to CAD 110 million. More important, total selling, general, and administrative expenses declined 23% year over year, reflecting head count reductions and cost-cutting as the company attempts to stem its ongoing cash burn. Optimizing the expense structure and operational footprint will be critical for Canopy to achieve positive free cash flow, so we are pleased to see management’s efforts beginning to deliver.

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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
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Jun 30, 2020
Fiscal Year End Mar 31, 2020
Stock Type
Employees 4,434