| WEED Stock | | | CAD 4.07 0.31 7.08% |
This module uses fundamental data of Canopy Growth to approximate its Piotroski F score. Canopy Growth F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Canopy Growth Corp. These three categories are profitability, efficiency, and funding. Some research analysts and sophisticated value traders use Piotroski F Score to find opportunities outside of the conventional market and financial statement analysis.They believe that some of the new information about Canopy Growth financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Check out
Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Canopy Growth Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
At this time, Canopy Growth's
Net Debt is very stable compared to the past year. As of the 18th of December 2024,
Short and Long Term Debt Total is likely to grow to about 673
M, while
Short Term Debt is likely to drop about 1.9
M. At this time, Canopy Growth's
EV To Sales is very stable compared to the past year. As of the 18th of December 2024,
Days Of Inventory On Hand is likely to grow to 554.04, while
Book Value Per Share is likely to drop 0.72.
At this time, it appears that Canopy Growth's Piotroski F Score is Inapplicable. Although some professional money managers and academia have recently criticized
Piotroski F-Score model, we still consider it an effective method of
predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
5.0
Piotroski F Score - Inapplicable
| Change in Return on Assets | |
| Cash Flow Return on Assets | |
| Current Quality of Earnings (accrual) | |
| Long Term Debt Over Assets Change | Lower Leverage| Focus | |
| Change In Outstending Shares | |
Canopy Growth Piotroski F Score Drivers
The critical factor to consider when applying the Piotroski F Score to Canopy Growth is to make sure Canopy is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Canopy Growth's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Canopy Growth's financial numbers are properly reported.
Canopy Growth Corp F Score Driver Matrix
One of the toughest challenges investors face today is learning how to quickly synthesize historical
financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Canopy Growth's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Canopy Growth in a much-optimized way.
Click cells to compare fundamentals
About Canopy Growth Piotroski F Score
F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled
Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.
Canopy Growth Current Valuation Drivers
We derive many important indicators used in calculating different scores of Canopy Growth from analyzing Canopy Growth's financial statements. These drivers represent accounts that assess Canopy Growth's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Canopy Growth's important valuation drivers and their relationship over time.
About Canopy Growth Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Canopy Growth Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Canopy Growth using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at
the intrinsic value of Canopy Growth Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing
financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our
fundamental analysis page.
Pair Trading with Canopy Growth
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canopy Growth position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canopy Growth will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Canopy Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canopy Growth when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canopy Growth - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canopy Growth Corp to buy it.
The correlation of Canopy Growth is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canopy Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canopy Growth Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canopy Growth can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
When determining whether Canopy Growth Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Canopy Growth's
financial statements, including income statements, balance sheets, and cash flow statements, to assess its
financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Canopy Growth Corp Stock.
Outlined below are crucial reports that will aid in making a well-informed decision on Canopy Growth Corp Stock: Check out
Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Canopy Growth Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
You can also try the
Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Please note, there is a significant difference between Canopy Growth's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canopy Growth is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canopy Growth's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.