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Canopy Growth Corp - Stock Quote CGC

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Morningstar's Canopy Growth Corp Stock Analysis

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Canopy Shares Spike on “Less Terrible” Fiscal Q3 Results; Battered Shares Look Undervalued

Analyst Note

| Kristoffer Inton |

On an absolute basis, Canopy’s fiscal third-quarter results weren’t very good, with sales down 8% and adjusted EBITDA down 1% over the prior-year quarter despite contributions from acquisition. On a relative basis, these results were better than last quarter, when adjusted EBITDA losses nearly doubled over the prior year, tracking our forecast for lower overhead spending. But the revenue recovery is slower than we had anticipated, leading us to cut our fair value estimates to $20 and CAD 25 per share, down from $22 and CAD 27. Our no-moat rating remains unchanged as positive returns on invested capital remain years away.

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Canopy Growth Corp's Company Profile

Business Description

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.

1 Hershey Drive
Smiths Falls, ON, K7A 0A8, Canada
T +1 855 558-9333
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Dec 31, 2021
Fiscal Year End Mar 31, 2022
Stock Type
Employees 3,259

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