Canopy Growth (CGC) Gross Margin (2019 - 2026)
Canopy Growth (CGC) recorded Gross Margin of 22.16% in fiscal Q1 2027 (quarter ended Jun 30, 2026), up 1.83 percentage points from 20.32% a year earlier and up 15.97 percentage points from the prior quarter.
Canopy Growth (CGC) Gross Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Canopy Growth's Gross Margin came in at 19.65% as of Jun 30, 2026, down 2.65 percentage points year-over-year; for FY2026 (ended Mar 31, 2026), it was 20.09%, down 5.24 percentage points from FY2025.
- Annual Gross Margin has a five-year change of +9.06 percentage points (FY2021 to FY2026).
- Across earlier fiscal years, Gross Margin came in at 25.32% in FY2025 (+1.81 pp), 23.52% in FY2024 (+40.18 pp), -16.66% in FY2023 (+18.20 pp) and -34.86% in FY2022 (-45.89 pp).
- Quarterly Gross Margin has ranged from -188.48% in fiscal Q4 2022 to 35.95% in fiscal Q3 2024 over the past five years.
- On a year-over-year basis, Gross Margin rose in two of the last eight quarters, with an average year-over-year change of -3.42 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 106.90 percentage points in fiscal Q4 2023, against a drop of 195.08 percentage points in fiscal Q4 2022 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 6.19% (Q4 2026), 28.80% (Q3 2026) and 32.85% (Q2 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 293.35 Bn | 274.91 Bn | 7.66 Bn | 68.43% |
| 2 | British American Tobacco p.l.c | 122.95 Bn | 102.10 Bn | - | - |
| 3 | Altria | 111.79 Bn | 98.00 Bn | 3.82 Bn | 62.51% |
| 4 | Curaleaf Holdings | 2.72 Bn | 2.32 Bn | 169.91 Mn | 49.96% |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | 35.41% |
| 6 | Trulieve Cannabis | 2.09 Bn | 706.80 Mn | 162.29 Mn | 59.90% |
| 7 | Green Thumb Industries | 1.32 Bn | 166.97 Mn | 137.87 Mn | 44.96% |
| 8 | Cronos | 1.19 Bn | -2.04 Bn | 28.45 Mn | 40.30% |
| 9 | Turning Point Brands | 1.11 Bn | 241.91 Mn | 93.70 Mn | 65.55% |
| 10 | Canopy Growth | 372.26 Mn | -634.93 Mn | 16.08 Mn | 22.16% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.16% |
| Mar 31, 2026 | 6.19% |
| Dec 31, 2025 | 28.80% |
| Sep 30, 2025 | 32.85% |
| Jun 30, 2025 | 20.32% |
| Mar 31, 2025 | 9.59% |
| Dec 31, 2024 | 32.23% |
| Sep 30, 2024 | 34.67% |
| Jun 30, 2024 | 34.78% |
| Mar 31, 2024 | 12.94% |
| Dec 31, 2023 | 35.95% |
| Sep 30, 2023 | 33.66% |
| Jun 30, 2023 | 15.53% |
| Mar 31, 2023 | -81.57% |
| Dec 31, 2022 | 5.39% |
| Sep 30, 2022 | -0.61% |
| Jun 30, 2022 | -4.71% |
| Mar 31, 2022 | -188.48% |
| Dec 31, 2021 | 6.51% |
| Sep 30, 2021 | -48.84% |
Canopy Growth Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CGC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CGC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CGC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();