Canopy Tangible Asset Value vs Profit Margin Analysis
CGC Stock | USD 7.83 1.34 20.65% |
Canopy Growth financial indicator trend analysis is way more than just evaluating Canopy Growth Corp prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canopy Growth Corp is a good investment. Please check the relationship between Canopy Growth Tangible Asset Value and its Net Profit Margin accounts. Check out Trending Equities 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 tightly coupled with the direction of predictive economic indicators such as signals in price.
Tangible Asset Value vs Net Profit Margin
Tangible Asset Value vs Profit Margin Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canopy Growth Corp Tangible Asset Value account and Profit Margin. At this time, the significance of the direction appears to have no relationship.
The correlation between Canopy Growth's Tangible Asset Value and Profit Margin is 0.0. Overlapping area represents the amount of variation of Tangible Asset Value that can explain the historical movement of Profit Margin in the same time period over historical financial statements of Canopy Growth Corp, assuming nothing else is changed. The correlation between historical values of Canopy Growth's Tangible Asset Value and Profit Margin is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Tangible Asset Value of Canopy Growth Corp are associated (or correlated) with its Profit Margin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Profit Margin has no effect on the direction of Tangible Asset Value i.e., Canopy Growth's Tangible Asset Value and Profit Margin go up and down completely randomly.
Correlation Coefficient | 0.0 |
Relationship Direction | Flat |
Relationship Strength | Insignificant |
Tangible Asset Value
The total value of a company's physical, tangible assets, excluding intangible assets like patents and trademarks.Net Profit Margin
The percentage of revenue left after all expenses have been deducted from sales. The measure is calculated by dividing net profit by revenue.Most indicators from Canopy Growth's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators 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 fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities 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 tightly coupled with the direction of predictive economic indicators such as signals in price. As of April 18, 2024, Selling General Administrative is expected to decline to about 5.5 M. In addition to that, Tax Provision is expected to decline to about (4.5 M)
2020 | 2021 | 2022 | 2024 (projected) | Cost Of Revenue | 479.7M | 713.4M | 507.0M | 694.7K | Research Development | 57.6M | 32.3M | 21.7M | 151.7K |
Canopy Growth fundamental ratios Correlations
Click cells to compare fundamentals
Canopy Growth Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Canopy Growth fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 8.7B | 6.9B | 6.8B | 5.6B | 2.4B | 24.7M | |
Other Current Liab | 43.4M | 81.4M | 199.4M | 106.4M | 139.3M | 94.7M | |
Total Current Liabilities | 411.7M | 420.6M | 284.3M | 212.9M | 803.8M | 2.6M | |
Total Stockholder Equity | 7.0B | 4.9B | 3.5B | 3.6B | 758.4M | 20.6M | |
Net Debt | (677.4M) | 428.3M | 725.0M | 629.9M | 724.4M | 760.6M | |
Retained Earnings | (777.1M) | (4.3B) | (6.1B) | (6.4B) | (9.7B) | (10.4M) | |
Cash | 2.5B | 1.3B | 1.2B | 776.0M | 677.0M | 5.5M | |
Cash And Short Term Investments | 2.0B | 2.3B | 1.4B | 782.6M | 900.0M | 895.3M | |
Common Stock Shares Outstanding | 348.0M | 371.7M | 391.3M | 463.7M | 533.3M | 559.9M | |
Short Term Investments | 842K | 2.0B | 673.3M | 1.1B | 595.7M | 105.6M | |
Liabilities And Stockholders Equity | 6.9B | 6.8B | 5.6B | 2.4B | 2.8B | 2.8B | |
Other Current Assets | 79.0M | 14.7M | 67.2M | 19.1M | 10.1M | 737.5K | |
Other Stockholder Equity | 2.0B | 2.6B | 2.4B | 2.5B | (7.2B) | 1.7M | |
Total Liab | 1.5B | 1.7B | 3.2B | 2.0B | 1.7B | 4.1M | |
Total Current Assets | 5.1B | 2.6B | 2.8B | 1.7B | 1.1B | 9.8M | |
Accounts Payable | 188.9M | 123.4M | 67.3M | 64.3M | 76.2M | 2.3M | |
Net Receivables | 107.0M | 90.2M | 92.4M | 96.4M | 94.0M | 502.3K | |
Non Current Liabilities Total | 1.3B | 2.9B | 1.8B | 875.2M | 1.0B | 806.3M | |
Common Stock | 6.0B | 6.4B | 7.2B | 7.5B | 7.9B | 28.3M | |
Property Plant And Equipment Net | 1.5B | 1.1B | 942.8M | 499.5M | 574.4M | 616.1M | |
Non Current Assets Total | 4.3B | 4.0B | 3.9B | 1.4B | 1.6B | 2.1B | |
Non Currrent Assets Other | (24.5M) | (16.4M) | (649K) | 19.4M | 17.5M | 16.6M | |
Intangible Assets | 519.6M | 476.4M | 308.2M | 252.7M | 188.7M | 54.6K | |
Net Tangible Assets | 4.7B | 2.5B | 1.3B | 1.5B | 24.9M | 23.6M | |
Long Term Debt | 842.3M | 449.0M | 1.6B | 1.5B | 750.0M | 1.5M | |
Good Will | 314.9M | 1.5B | 2.0B | 1.9B | 1.9B | 85.6M | |
Inventory | 262.1M | 391.1M | 368.0M | 204.4M | 148.9M | 3.0M | |
Long Term Investments | 226.6M | 475.8M | 315.1M | 708.3M | 341.7M | 568.3M | |
Short Long Term Debt | 103.7M | 16.4M | 9.8M | 9.3M | 556.9M | 1.8M | |
Accumulated Other Comprehensive Income | 173.6M | 1.7B | 220.9M | (34.2M) | (42.3M) | (13.9M) | |
Short Term Debt | 103.7M | 56.7M | 9.8M | 9.3M | 556.9M | 1.8M | |
Property Plant Equipment | 1.1B | 1.5B | 1.1B | 942.8M | 18.0M | 17.1M | |
Short Long Term Debt Total | 625.8M | 1.6B | 1.5B | 1.3B | 1.5B | 1.6B | |
Property Plant And Equipment Gross | 1.5B | 1.1B | 1.2B | 499.5M | 574.4M | 712.7M | |
Current Deferred Revenue | 37.6M | 41.1M | 100.8M | 76.0M | 87.4M | 91.8M | |
Capital Lease Obligations | 40.4M | 136.2M | 139.2M | 109.3M | 125.7M | 132.0M |
Canopy Growth Investors Sentiment
The influence of Canopy Growth's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Canopy. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Canopy Growth's public news can be used to forecast risks associated with an investment in Canopy. The trend in average sentiment can be used to explain how an investor holding Canopy can time the market purely based on public headlines and social activities around Canopy Growth Corp. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Canopy Growth's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Canopy Growth's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Canopy Growth's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Canopy Growth.
Canopy Growth Implied Volatility | 312.54 |
Canopy Growth's implied volatility exposes the market's sentiment of Canopy Growth Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Canopy Growth's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Canopy Growth stock will not fluctuate a lot when Canopy Growth's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Canopy Growth in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Canopy Growth's short interest history, or implied volatility extrapolated from Canopy Growth options trading.
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 together with Canopy Stock
0.69 | YS | YS Biopharma Report 22nd of April 2024 | PairCorr |
Moving against Canopy Stock
0.71 | VERV | Verve Therapeutics Financial Report 20th of May 2024 | PairCorr |
0.62 | DRUG | Bright Minds Biosciences | PairCorr |
0.58 | VCNX | Vaccinex | PairCorr |
0.53 | VCYT | Veracyte Financial Report 2nd of May 2024 | PairCorr |
0.5 | DMAC | DiaMedica Therapeutics Financial Report 20th of May 2024 | 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 Trending Equities 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 tightly coupled with the direction of predictive economic indicators such as signals in price. Note that the Canopy Growth Corp information on this page should be used as a complementary analysis to other Canopy Growth's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Complementary Tools for Canopy Stock analysis
When running Canopy Growth's price analysis, check to measure Canopy Growth's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canopy Growth is operating at the current time. Most of Canopy Growth's value examination focuses on studying past and present price action to predict the probability of Canopy Growth's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canopy Growth's price. Additionally, you may evaluate how the addition of Canopy Growth to your portfolios can decrease your overall portfolio volatility.
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Is Canopy Growth's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canopy Growth. If investors know Canopy will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canopy Growth listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (15.45) | Revenue Per Share 5.589 | Quarterly Revenue Growth (0.07) | Return On Assets (0.09) | Return On Equity (1.22) |
The market value of Canopy Growth Corp is measured differently than its book value, which is the value of Canopy that is recorded on the company's balance sheet. Investors also form their own opinion of Canopy Growth's value that differs from its market value or its book value, called intrinsic value, which is Canopy Growth's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canopy Growth's market value can be influenced by many factors that don't directly affect Canopy Growth's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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.