Canopy Price To Sales Ratio vs Ev To Sales Analysis

WEED Stock  CAD 4.63  0.32  6.46%   
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 Price To Sales Ratio and its Ev To Sales accounts. 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.

Price To Sales Ratio vs Ev To Sales

Price To Sales Ratio vs Ev To Sales Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canopy Growth Corp Price To Sales Ratio account and Ev To Sales. At this time, the significance of the direction appears to have totally related.
The correlation between Canopy Growth's Price To Sales Ratio and Ev To Sales is 1.0. Overlapping area represents the amount of variation of Price To Sales Ratio that can explain the historical movement of Ev To Sales 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 Price To Sales Ratio and Ev To Sales is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Price To Sales Ratio of Canopy Growth Corp are associated (or correlated) with its Ev To Sales. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Ev To Sales has no effect on the direction of Price To Sales Ratio i.e., Canopy Growth's Price To Sales Ratio and Ev To Sales go up and down completely randomly.

Correlation Coefficient

1.0
Relationship DirectionPositive 
Relationship StrengthVery Strong

Price To Sales Ratio

Price to Sales Ratio is figured by comparing Canopy Growth Corp stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Canopy Growth sales, a figure that is much harder to manipulate than other Canopy Growth Corp multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.

Ev To Sales

The Enterprise Value to Sales ratio, a valuation metric used to compare the value of a company, including debt and excluding cash, to its sales 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 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 Tax Provision is very stable compared to the past year. As of the 12th of December 2024, Sales General And Administrative To Revenue is likely to grow to 5.23, while Selling General Administrative is likely to drop about 5.8 M.

Canopy Growth fundamental ratios Correlations

0.820.630.97-0.4-0.40.950.940.740.910.510.750.860.960.930.640.80.750.740.920.960.150.960.890.80.95
0.820.80.710.02-0.680.70.660.50.560.720.880.890.70.670.830.850.840.840.920.890.440.80.540.760.88
0.630.80.53-0.04-0.740.650.570.260.450.950.810.710.60.580.660.520.820.710.620.60.850.670.440.60.77
0.970.710.53-0.56-0.240.970.960.690.930.460.630.720.970.980.560.660.640.60.880.910.060.960.970.670.88
-0.40.02-0.04-0.56-0.46-0.58-0.57-0.05-0.57-0.130.130.08-0.55-0.650.170.170.110.28-0.24-0.210.19-0.5-0.730.18-0.17
-0.4-0.68-0.74-0.24-0.46-0.27-0.22-0.26-0.13-0.64-0.9-0.68-0.27-0.23-0.71-0.57-0.9-0.74-0.44-0.47-0.64-0.37-0.05-0.67-0.65
0.950.70.650.97-0.58-0.270.990.650.950.560.620.720.990.970.570.630.650.620.820.850.230.940.960.650.87
0.940.660.570.96-0.57-0.220.990.690.980.460.580.711.00.960.560.660.610.620.810.840.150.910.960.670.85
0.740.50.260.69-0.05-0.260.650.690.720.060.480.70.70.60.530.770.540.730.620.74-0.090.60.610.810.71
0.910.560.450.93-0.57-0.130.950.980.720.320.490.670.970.90.480.650.530.580.740.790.030.850.930.660.79
0.510.720.950.46-0.13-0.640.560.460.060.320.70.530.50.520.560.330.70.520.540.480.850.640.380.380.64
0.750.880.810.630.13-0.90.620.580.480.490.70.870.630.60.810.770.990.850.770.790.50.720.450.830.91
0.860.890.710.720.08-0.680.720.710.70.670.530.870.750.640.710.950.860.910.810.890.330.760.540.950.91
0.960.70.60.97-0.55-0.270.991.00.70.970.50.630.750.960.570.690.660.650.830.870.170.940.950.70.88
0.930.670.580.98-0.65-0.230.970.960.60.90.520.60.640.960.550.550.620.520.840.840.140.940.980.570.85
0.640.830.660.560.17-0.710.570.560.530.480.560.810.710.570.550.750.820.850.790.720.40.610.430.680.76
0.80.850.520.660.17-0.570.630.660.770.650.330.770.950.690.550.750.750.910.820.870.140.670.480.920.82
0.750.840.820.640.11-0.90.650.610.540.530.70.990.860.660.620.820.750.860.730.770.540.720.480.840.91
0.740.840.710.60.28-0.740.620.620.730.580.520.850.910.650.520.850.910.860.750.80.440.620.430.940.85
0.920.920.620.88-0.24-0.440.820.810.620.740.540.770.810.830.840.790.820.730.750.970.150.890.760.720.89
0.960.890.60.91-0.21-0.470.850.840.740.790.480.790.890.870.840.720.870.770.80.970.110.910.780.830.94
0.150.440.850.060.19-0.640.230.15-0.090.030.850.50.330.170.140.40.140.540.440.150.110.220.00.260.36
0.960.80.670.96-0.5-0.370.940.910.60.850.640.720.760.940.940.610.670.720.620.890.910.220.890.660.9
0.890.540.440.97-0.73-0.050.960.960.610.930.380.450.540.950.980.430.480.480.430.760.780.00.890.50.76
0.80.760.60.670.18-0.670.650.670.810.660.380.830.950.70.570.680.920.840.940.720.830.260.660.50.88
0.950.880.770.88-0.17-0.650.870.850.710.790.640.910.910.880.850.760.820.910.850.890.940.360.90.760.88
Click cells to compare fundamentals

Canopy Growth Account Relationship Matchups

Canopy Growth fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets8.7B6.9B6.8B5.6B2.4B1.3B
Other Current Liab240.4M207.2M139.3M181.0M76.4M79.9M
Total Current Liabilities411.7M420.6M284.3M212.9M803.8M234.7M
Total Stockholder Equity7.0B4.9B3.5B3.6B758.4M500.4M
Net Debt(677.4M)428.3M725.0M629.9M497.7M522.6M
Retained Earnings(777.1M)(4.3B)(6.1B)(6.4B)(9.7B)(10.3B)
Cash2.5B1.3B1.2B776.0M677.0M170.3M
Cash And Short Term Investments2.0B2.3B1.4B782.6M205.8M195.5M
Common Stock Shares Outstanding34.8M371.7M391.3M46.4M74.8M122.0M
Short Term Investments673.3M1.1B595.7M105.6M33.2M31.5M
Liabilities And Stockholders Equity6.9B6.8B5.6B2.4B1.3B2.5B
Other Current Assets64.4M92.9M19.1M19.1M139.9M38.6M
Other Stockholder Equity1.6B2.6B2.4B2.5B2.5B2.6B
Total Liab1.5B1.7B3.2B2.0B1.7B799.8M
Total Current Assets5.1B2.6B2.8B1.7B1.1B371.2M
Accounts Payable188.9M123.4M67.3M64.3M31.8M28.7M
Non Current Liabilities Total1.3B2.9B1.8B875.2M565.1M790.9M
Common Stock6.0B6.4B7.2B7.5B7.9B8.2B
Short Long Term Debt Total625.8M1.6B1.5B1.3B668.0M673.0M
Property Plant And Equipment Net1.5B1.1B942.8M499.5M320.1M592.1M
Non Current Assets Total4.3B4.0B3.9B1.4B929.2M882.7M
Accumulated Other Comprehensive Income220.9M(34.2M)(42.3M)(13.9M)(16.1M)(15.2M)
Short Term Debt103.7M56.7M9.8M9.3M585.3M119.1M
Intangible Assets519.6M476.4M308.2M252.7M188.7M104.1M
Net Tangible Assets4.7B2.5B1.3B1.5B24.9M23.6M
Long Term Debt842.3M449.0M1.6B1.5B750.0M493.3M
Net Receivables107.0M90.2M92.4M96.4M68.5M51.8M
Inventory262.1M391.1M368.0M204.4M148.9M77.3M
Short Long Term Debt103.7M16.4M9.8M9.3M556.9M103.9M
Property Plant Equipment1.1B1.5B1.1B942.8M499.5M14.8M
Other Liab239.1M690.2M1.3B178.8M205.7M343.6M
Current Deferred Revenue37.6M41.1M100.8M76.0M87.4M91.8M
Property Plant And Equipment Gross1.5B1.3B1.2B499.5M418.3M712.0M
Non Currrent Assets Other18.7M5.0M15.3M141K325.5M341.8M
Other Assets22.6M102.5M479.5M19.8M1.00.95
Good Will2.0B1.9B1.9B85.6M43.2M41.1M
Long Term Debt Total500.7M1.6B1.5B789.6M908.1M831.0M
Long Term Investments315.1M708.3M341.7M568.3M136.2M129.4M
Non Current Liabilities Other440.7M613.1M135.9M124.9M16.2M15.4M

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

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  0.47LQWD LQwD FinTech CorpPairCorr
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.
Pair CorrelationCorrelation Matching
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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.