Canopy Growth (CGC) Gross Margin (2019 - 2026)
Canopy Growth (CGC) posted Gross Margin of 28.78% for Q4 2025, down 12.38% sequentially from 32.85% in Q3 2025, and down 345.0% YoY from 11.75% in Q4 2024.
Canopy Growth (CGC) Gross Margin (2019 - 2026) Analysis & Trends
Canopy Growth has reported Gross Margin for 7 years, with the latest figure at 28.78% in Q4 2025.
- Quarterly Gross Margin fell 345.0% year-over-year to 28.78% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 29.39% (down 108.0% YoY) and the FY2026 annual result came in at 111.97%, down 6483.0% from the prior year.
- Gross Margin slipped to 28.78% in Q4 2025 per CGC's latest filing, from 32.85% in the prior quarter.
- Over five years, Gross Margin peaked at 44.31% in Q1 2022 and troughed at 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.
- The widest YoY moves for Gross Margin: up 9169 bps in 2021, down 13496 bps in 2021.
- Over 5 years, Gross Margin stood at 6.51% in 2021, then slipped by 5 bps to 6.16% in 2022, then surged by 484 bps to 35.95% in 2023, then slipped by 10 bps to 32.23% in 2024, then decreased by 11 bps to 28.78% in 2025.
- According to Business Quant data, Gross Margin over the past three periods registered 28.78%, 32.85%, and 25.01% for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.83 Bn | 42.86 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 42.87 Bn | 39.22 Bn | 2.15 Bn | 51.98% |
| 3 | Zoetis | 31.41 Bn | 29.73 Bn | 1.05 Bn | 42.63% |
| 4 | Takeda Pharmaceutical | 28.55 Bn | 22.75 Bn | 5.10 Bn | 66.66% |
| 5 | United Therapeutics | 22.08 Bn | 19.42 Bn | 683.80 Mn | 87.30% |
| 6 | Viatris | 18.73 Bn | 17.84 Bn | 1.46 Bn | 38.77% |
| 7 | Neurocrine Biosciences | 15.44 Bn | 15.05 Bn | 935.80 Mn | 97.58% |
| 8 | Elanco Animal Health | 11.75 Bn | 11.22 Bn | 798.00 Mn | 58.33% |
| 9 | Dr Reddys Laboratories | 10.11 Bn | 9.94 Bn | - | - |
| 10 | Canopy Growth | 445.49 Mn | 198.48 Mn | 16.08 Mn | 22.16% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 22.16% |
| 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% |