Canopy Growth (CGC) Gross Margin (2019 - 2025)
Canopy Growth (CGC) reported Gross Margin of 28.78% for Q4 2025, down 345.0% on a YoY basis from 11.75% in Q4 2024, and down 12.38% sequentially from 32.85% in Q3 2025.
Canopy Growth (CGC) Gross Margin (2019 - 2025) Analysis & Trends
Canopy Growth (CGC) has 7 years of Gross Margin data on file, last reported at 28.78% in Q4 2025.
- For the quarter ending Q4 2025, Gross Margin fell 345.0% year-over-year to 28.78%; the trailing twelve-month figure through Dec 2025 stood at 29.39% (down 108.0% YoY), and the FY2026 full-year result was 111.97%, down 6483.0% from the prior year.
- Gross Margin slipped to 28.78% in Q4 2025, from 32.85% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 44.31% in Q1 2022 to a low of 55.34% in Q1 2023.
- A 5-year average of 14.0% and a median of 21.25% in 2024 frame the typical range for Gross Margin.
- Peak annual rise in Gross Margin reached 9169 bps in 2021, while the deepest fall reached 13496 bps in 2021.
- Tracing CGC's Gross Margin over 5 years: stood at 6.51% in 2021, then fell by 5 bps to 6.16% in 2022, then surged by 484 bps to 35.95% in 2023, then fell by 10 bps to 32.23% in 2024, then declined by 11 bps to 28.78% in 2025.
- Business Quant data shows CGC's Gross Margin at 28.78% in Q4 2025, 32.85% in Q3 2025, and 25.01% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 87.22 Bn | 85.35 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 39.60 Bn | 35.87 Bn | 1.97 Bn | 49.52% |
| 3 | Zoetis | 31.46 Bn | 29.52 Bn | 1.62 Bn | 71.66% |
| 4 | Takeda Pharmaceutical | 26.49 Bn | 22.44 Bn | 4.39 Bn | 62.93% |
| 5 | United Therapeutics | 23.03 Bn | 20.88 Bn | 648.10 Mn | 82.93% |
| 6 | Universe Pharmaceuticals | 23.03 Bn | -10.56 Bn | - | - |
| 7 | Viatris | 20.90 Bn | 19.09 Bn | 1.16 Bn | 32.97% |
| 8 | Neurocrine Biosciences | 17.50 Bn | 16.19 Bn | 800.70 Mn | 98.31% |
| 9 | Elanco Animal Health | 12.33 Bn | 11.91 Bn | 785.00 Mn | 57.26% |
| 10 | Canopy Growth | 197.77 Mn | -68.15 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 28.78% |
| Sep 30, 2025 | 32.85% |
| Jun 30, 2025 | 25.01% |
| Dec 31, 2024 | 32.23% |
| Sep 30, 2024 | 34.67% |
| Jun 30, 2024 | 34.78% |
| Mar 31, 2024 | 21.25% |
| Dec 31, 2023 | 35.95% |
| Sep 30, 2023 | 33.66% |
| Jun 30, 2023 | 18.05% |
| Mar 31, 2023 | -55.34% |
| Dec 31, 2022 | 6.16% |
| Sep 30, 2022 | -0.69% |
| Jun 30, 2022 | -4.71% |
| Mar 31, 2022 | 44.31% |
| Dec 31, 2021 | 6.51% |
| Sep 30, 2021 | -54.15% |
| Jun 30, 2021 | 20.00% |
| Mar 31, 2021 | 6.60% |
| Dec 31, 2020 | 141.46% |