Canopy Growth (CGC) Operating Margin (2019 - 2025)

Canopy Growth has disclosed Operating Margin across 7 years of filings, most recently posting 29.15% for Q4 2025.

• Operating Margin for Q4 2025 came in at 29.15%, down 153.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 38.37% (up 2162.0% YoY), and the FY2025 annual result was 50.39%, up 1611.0% from the prior year.
• Operating Margin came in at 29.15% for Q4 2025 at Canopy Growth, down from 20.35% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 373.57% in Q1 2022 to a low of 1765.54% in Q1 2023.
• The 5-year median for Operating Margin is 74.51% (2025), against an average of 222.85%.
• Peak annual rise in Operating Margin reached 167779 bps in 2023, while the deepest fall reached 213912 bps in 2023.
• Canopy Growth's Operating Margin stood at 96.73% in 2021, then retreated by 20 bps to 116.19% in 2022, then surged by 42 bps to 66.97% in 2023, then surged by 59 bps to 27.62% in 2024, then decreased by 6 bps to 29.15% in 2025.
• The last three Operating Margin figures came in at 29.15% (Q4 2025), 20.35% (Q3 2025), and 31.36% (Q2 2025), per Business Quant data.