Canopy Growth (CGC) Operating Margin (2019 - 2026)
Canopy Growth (CGC) posted Operating Margin of -22.03% for fiscal Q1 2027 (quarter ended Jun 30, 2026), up 3.46 percentage points from -25.49% a year earlier and up 49.74 percentage points from the prior quarter.
Canopy Growth (CGC) Operating Margin (2019 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Canopy Growth was -43.05%, down 9.86 percentage points year-over-year; for FY2026 (ended Mar 31, 2026), it came in at -46.61%, down 9.30 percentage points from FY2025.
- Annual Operating Margin shows a five-year change of +158.18 percentage points (FY2021 to FY2026).
- In prior fiscal years, Canopy Growth's Operating Margin was -37.31% in FY2025 (+29.19 pp), -66.50% in FY2024 (+623.47 pp), -689.97% in FY2023 (-500.46 pp) and -189.51% in FY2022 (+15.27 pp).
- The fiscal Q1 2027 figure stands as the highest quarterly Operating Margin since fiscal Q4 2025.
- On a year-over-year basis, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +8.21 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was fiscal Q1 2024, with a gain of 1490.95 percentage points; the weakest was fiscal Q1 2023, with a drop of 1431.83 percentage points.
- According to Business Quant data, Operating Margin for the three prior fiscal quarters was -71.77% (Q4 2026), -35.35% (Q3 2026) and -25.33% (Q2 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | 40.48% |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 51.32% |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 1.24% |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | 12.90% |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | -136.75% |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 6.51% |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 10.49% |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 11.69% |
| 10 | Canopy Growth | 393.41 Mn | -613.77 Mn | 16.08 Mn | -22.03% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -22.03% |
| Mar 31, 2026 | -71.77% |
| Dec 31, 2025 | -35.35% |
| Sep 30, 2025 | -25.33% |
| Jun 30, 2025 | -25.49% |
| Mar 31, 2025 | -16.61% |
| Dec 31, 2024 | -31.86% |
| Sep 30, 2024 | -72.94% |
| Jun 30, 2024 | -43.96% |
| Mar 31, 2024 | -89.26% |
| Dec 31, 2023 | -76.83% |
| Sep 30, 2023 | -10.07% |
| Jun 30, 2023 | -61.65% |
| Mar 31, 2023 | -690.88% |
| Dec 31, 2022 | -116.19% |
| Sep 30, 2022 | -148.52% |
| Jun 30, 2022 | -1,552.60% |
| Mar 31, 2022 | -571.52% |
| Dec 31, 2021 | -96.73% |
| Sep 30, 2021 | -147.86% |
Canopy Growth Operating 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=operating-margin&ticker=CGC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=CGC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();