SNDL vs. CGC

Last updated Apr 1, 2026

Compare and contrast key facts about Sundial Growers Inc. (SNDL) and Canopy Growth Corporation (CGC).

Performance

SNDL vs. CGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sundial Growers Inc. (SNDL) and Canopy Growth Corporation (CGC). The values are adjusted to include any dividend payments, if applicable.

SNDL vs. CGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SNDL Sundial Growers Inc.	-20.48%	-7.26%	9.15%	-21.53%	-63.86%	22.13%	-84.27%	-64.50%
CGC Canopy Growth Corporation	-16.74%	-58.39%	-46.38%	-77.88%	-73.54%	-64.57%	16.83%	-32.36%

Fundamentals

Market Cap SNDL : $347.63M CGC : $327.98M
EPS SNDL : -$0.06 CGC : -$1.21
PS Ratio SNDL : 0.37 CGC : 0.87
PB Ratio SNDL : 0.32 CGC : 0.43
Total Revenue (TTM) SNDL : $942.38M CGC : $294.24M
Gross Profit (TTM) SNDL : $244.86M CGC : $71.95M
EBITDA (TTM) SNDL : $43.35M CGC : -$225.88M

Returns By Period

In the year-to-date period, SNDL achieves a -20.48% return, which is significantly lower than CGC's -16.74% return.

SNDL

• 1D: 2.33%
• 1M: -14.29%
• YTD: -20.48%
• 6M: -50.75%
• 1Y: -6.38%
• 3Y*: -6.21%
• 5Y*: -34.56%
• 10Y*: —

CGC

• 1D: 10.80%
• 1M: -15.25%
• YTD: -16.74%
• 6M: -34.99%
• 1Y: 4.31%
• 3Y*: -62.15%
• 5Y*: -68.79%
• 10Y*: -26.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SNDL vs. CGC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SNDL

SNDL Risk / Return Rank: 38
SNDL Sharpe Ratio Rank: 37
SNDL Sortino Ratio Rank: 39
SNDL Omega Ratio Rank: 39
SNDL Calmar Ratio Rank: 37
SNDL Martin Ratio Rank: 37

CGC

CGC Risk / Return Rank: 47
CGC Sharpe Ratio Rank: 43
CGC Sortino Ratio Rank: 58
CGC Omega Ratio Rank: 53
CGC Calmar Ratio Rank: 40
CGC Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNDL vs. CGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sundial Growers Inc. (SNDL) and Canopy Growth Corporation (CGC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SNDL	CGC	Difference
Sharpe ratio Return per unit of total volatility	-0.10	0.04	-0.13
Sortino ratio Return per unit of downside risk	0.39	1.04	-0.65
Omega ratio Gain probability vs. loss probability	1.05	1.12	-0.07
Calmar ratio Return relative to maximum drawdown	-0.17	-0.07	-0.10
Martin ratio Return relative to average drawdown	-0.32	-0.11	-0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNDL vs. CGC - Sharpe Ratio Comparison

The current SNDL Sharpe Ratio is -0.10, which is lower than the CGC Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of SNDL and CGC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SNDL	CGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	0.04	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.48	-0.56	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.26	-0.14

Correlation

The correlation between SNDL and CGC is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SNDL vs. CGC - Dividend Comparison

Neither SNDL nor CGC has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SNDL vs. CGC - Drawdown Comparison

The maximum SNDL drawdown since its inception was -99.07%, roughly equal to the maximum CGC drawdown of -99.85%. Use the drawdown chart below to compare losses from any high point for SNDL and CGC.

Drawdown Indicators

	SNDL	CGC	Difference
Max Drawdown Largest peak-to-trough decline	-99.07%	-99.85%	+0.78%
Max Drawdown (1Y) Largest decline over 1 year	-54.17%	-55.61%	+1.44%
Max Drawdown (5Y) Largest decline over 5 years	-90.62%	-99.74%	+9.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.85%	—
Current Drawdown Current decline from peak	-98.98%	-99.83%	+0.85%
Average Drawdown Average peak-to-trough decline	-94.30%	-61.53%	-32.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.23%	33.86%	-5.63%

Volatility

SNDL vs. CGC - Volatility Comparison

The current volatility for Sundial Growers Inc. (SNDL) is 9.12%, while Canopy Growth Corporation (CGC) has a volatility of 17.62%. This indicates that SNDL experiences smaller price fluctuations and is considered to be less risky than CGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNDL	CGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.12%	17.62%	-8.50%
Volatility (6M) Calculated over the trailing 6-month period	45.37%	68.50%	-23.13%
Volatility (1Y) Calculated over the trailing 1-year period	67.31%	117.39%	-50.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.88%	123.85%	-50.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.60%	102.96%	+12.64%

Financials

SNDL vs. CGC - Profitability Comparison

The chart below illustrates the profitability comparison between Sundial Growers Inc. and Canopy Growth Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SNDL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Sundial Growers Inc. reported a gross profit of 56.44M and revenue of 248.47M. Therefore, the gross margin over that period was 22.7%.

CGC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Canopy Growth Corporation reported a gross profit of 21.47M and revenue of 90.39M. Therefore, the gross margin over that period was 23.8%.

SNDL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Sundial Growers Inc. reported an operating income of 10.09M and revenue of 248.47M, resulting in an operating margin of 4.1%.

CGC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Canopy Growth Corporation reported an operating income of -26.35M and revenue of 90.39M, resulting in an operating margin of -29.2%.

SNDL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Sundial Growers Inc. reported a net income of 9.22M and revenue of 248.47M, resulting in a net margin of 3.7%.

CGC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Canopy Growth Corporation reported a net income of -62.63M and revenue of 90.39M, resulting in a net margin of -69.3%.