Canopy Historical Income Statement
| WEED Stock | CAD 4.02 0.07 1.71% |
Historical analysis of Canopy Growth income statement accounts such as Interest Expense of 0.0, Selling General Administrative of 5.8 M, Total Revenue of 1.1 M or Gross Profit of 414.3 K can show how well Canopy Growth Corp performed in making a profits. Evaluating Canopy Growth income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Canopy Growth's future profits or losses.
Financial Statement Analysis is much more than just reviewing and examining Canopy Growth Corp latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Canopy Growth Corp is a good buy for the upcoming year.
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About Canopy Income Statement Analysis
Canopy Growth Corp Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Canopy Growth shareholders. The income statement also shows Canopy investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).
Canopy Growth Income Statement Chart
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Total Revenue
Total revenue comprises all receipts Canopy Growth Corp generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Canopy Growth Corp. It is also known as Canopy Growth overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Total Operating Expenses
The total costs associated with the day-to-day operations of a business, excluding the cost of goods sold but including selling, general, and administrative expenses.Most accounts from Canopy Growth's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Canopy Growth Corp current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. 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 Selling And Marketing Expenses is very stable compared to the past year. As of the 30th of December 2024, Tax Provision is likely to grow to about 12.9 M, while Interest Expense is likely to drop 0.00.
Canopy Growth income statement Correlations
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Canopy Growth Account Relationship Matchups
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Canopy Growth income statement Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Interest Expense | 18.4M | 6.7M | 8.5M | 103.9M | 126.2M | 105.4M | |
| Selling General Administrative | 451.4M | 624.9M | 666.5M | 520.3M | 487.4M | 99.8M | |
| Total Revenue | 226.3M | 398.8M | 546.6M | 520.3M | 402.9M | 297.1M | |
| Gross Profit | 88.9M | (31.7M) | 67.0M | (193.1M) | (104.1M) | 79.9M | |
| Other Operating Expenses | 1.4B | 1.1B | 1.2B | 994.5M | 525.9M | 464.4M | |
| Operating Income | (553.6M) | (1.7B) | 44.3M | (1.1B) | 1.7B | (228.7M) | |
| Ebit | (678.7M) | (1.4B) | (1.6B) | (235.6M) | (3.0B) | (366.0M) | |
| Ebitda | (1.3B) | (1.5B) | (121.2M) | (2.9B) | (312.8M) | (328.5M) | |
| Total Operating Expenses | 642.6M | 993.2M | 666.5M | 520.3M | 487.4M | 308.6M | |
| Total Other Income Expense Net | (59.7M) | 159.9M | (440.5M) | 750.9M | (455.6M) | (242.6M) | |
| Net Income | (670.1M) | (1.4B) | (1.7B) | (320.5M) | (3.3B) | (657.3M) | |
| Income Tax Expense | 12.3M | (121.6M) | (13.1M) | (8.9M) | (4.8M) | 12.3M | |
| Depreciation And Amortization | 125.0M | 127.1M | 114.4M | 80.0M | 53.2M | 48.7M | |
| Income Before Tax | (657.8M) | (1.5B) | (1.7B) | (329.4M) | (3.3B) | (471.4M) | |
| Selling And Marketing Expenses | 242.8M | 194.4M | 239.3M | 243.5M | 76.1M | 120.9M | |
| Net Income From Continuing Ops | (670.1M) | (1.4B) | (1.7B) | (320.5M) | (3.3B) | (483.7M) | |
| Research Development | 15.2M | 61.8M | 57.6M | 32.3M | 21.7M | 4.6M | |
| Cost Of Revenue | 137.4M | 430.5M | 479.7M | 713.4M | 507.0M | 217.3M | |
| Net Income Applicable To Common Shares | (736.3M) | (1.3B) | (1.7B) | (302.2M) | (3.3B) | (9.4M) | |
| Minority Interest | 291.9M | 291.5M | 140.0M | 18.3M | 31.4M | 18.5M | |
| Tax Provision | (121.6M) | (13.1M) | (8.9M) | (4.8M) | 12.3M | 12.9M | |
| Interest Income | 84.7M | 478.1M | 6.6M | 507.6M | 16.2M | 15.4M | |
| Net Interest Income | 59.6M | 12.9M | (97.3M) | (101.9M) | (89.1M) | (84.7M) | |
| Reconciled Depreciation | 125.0M | 127.1M | 114.4M | 84.5M | 53.2M | 89.8M |
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.Moving against Canopy Stock
| 0.81 | ERE-UN | European Residential Real | PairCorr |
| 0.77 | SEC | Senvest Capital | PairCorr |
| 0.72 | LB | Laurentian Bank | PairCorr |
| 0.72 | VLE | Valeura Energy | PairCorr |
| 0.71 | FFH-PH | Fairfax Financial | PairCorr |
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.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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.