Canopy Growth Corp (Weed-T) : Average Score

STOCKREPORTS+
CANOPY GROWTH CORP (WEED-T)

Pharma. & Med. Research / Pharmaceuticals / Pharmaceuticals
DETAILED STOCK REPORT
Report Date: 2018 July 03
Last Close Avg Daily Vol 52-Week High Trailing PE Annual Div ROE LTG Forecast 1-Mo Return
38.42 (CAD) 7.5M 48.72 -- -- -7.9% -- 5.1%
2018 June 29 Market Cap 52-Week Low Forward PE Dividend Yield Annual Rev Inst Own 3-Mo Return
TORONTO Exchange
7.7B 7.73 2561.0 -- 78M 8.2% 14.1%
AVERAGE SCORE
NEUTRAL OUTLOOK: WEED's current score is Score Averages
relatively in-line with the market. Pharmaceuticals Group: 5.3 Mid Market Cap: 7.4
Pharma. & Med. Research Sector: 4.7 TSX Comp Index: 7.7
Average Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend
Positive ACB 6 4 6 7 7
APH 8 5 6 7 7
Neutral WEED 8 7 7 6 6
LEAF 5 4 7 5 5
Negative
CRON 5 3 4 4 4
2015-07 2016-07 2017-07 2018-07
HIGHLIGHTS THOMSON REUTERS I/B/E/S MEAN

- The score for Canopy Growth Corp last changed from 7 to 6 on
2018-06-24. Buy Mean recommendation from all analysts covering
10 Analysts the company on a standardized 5-point scale.
- The recent change in the Average Score was primarily due to a
decline in the Fundamental and Relative Valuation component
scores. Strong
Sell Reduce Hold Buy
Buy
PRICE AND VOLUME CHARTS

1-Year Return: 383.3% 5-Year Return: 76740%
BUSINESS SUMMARY
Canopy Growth Corp, formerly Tweed Marijuana Inc, is a Canada-based multi-brand cannabis company. The Company, through its subsidiaries Tweed
Inc, Bedrocan Canada Inc, Tweed Farms Inc and Mettrum Health Corp is engaged in the business of producing and selling legal marijuana in the
Canadian medical market. It is also focusing on producing and selling marijuana in the recreational market in Canada. Its core brands are Tweed and
Bedrocan. Tweed is a licensed producer of medical marijuana. Tweed's commercial license covers approximately 168,000 square feet of its Smiths
Falls facility and allows Tweed to produce and sell approximately 3,540 kilograms of medical marijuana per year. Tweed's built-out production capacity
is over 10 climate controlled indoor growing rooms. Bedrocan is a medical-grade cannabis. Bedrocan's over 52,000 square feet production facility in
Toronto, Ontario is licensed, and includes over 30 vegetative and growing rooms, and over three dispensing rooms.
Page 1 of 11
© 2018 Thomson Reuters. All rights reserved.
STOCKREPORTS+
INDICATOR COMPONENTS
The AVERAGE SCORE combines the quantitative analysis of five widely-used investment decision making tools: Earnings,
Fundamental, Relative Valuation, Risk, and Price Momentum. A simple average of the underlying component ratings is normally
distributed to rank stocks on a 1-10 scale (10 being awarded to the most favorable). These factors may be evaluated differently using
alternative methodologies and the importance of individual factors varies across industries, market capitalization and investment styles.
Additional criteria should always by used to evaluate a stock.
Earnings Fundamental Relative Valuation Risk Price Momentum
PEER ANALYSIS Currency in CAD
PRICE MOMENTUM VALUATION FUNDAMENTAL ANALYSTS

Average Price 1-Mo 3-Mo 1-Yr Market Trailing Forward Dividend Net LTG I/B/E/S # of
Score Ticker (2018-06-29) Return Return Return Cap PE PE Yield Margin Forecast Mean Analysts
6 WEED 38.42 5.1% 14.1% 383.3% 7.7B -- 2561.0 -- -90.3% -- Buy 10
7 ACB 9.30 14.3% 0.0% 332.6% 5.3B -- -- -- -30.4% -- Buy 3
7 APH 11.87 1.2% 3.3% 124.0% 2.8B 59.4 60.3 -- 104.0% -- Buy 8
5 LEAF 26.99 7.4% 54.1% 222.1% 2.7B -- 539.8 -- -17.3% -- Buy 8
4 CRON 8.52 8.5% -1.5% 376.0% 1.5B 1065.0 426.0 -- 35.1% -- Hold 6
NR TGOD 6.48 38.8% -- -- 1.2B -- -- -- -- -- -- --
6 HEXO 5.30 5.0% 30.5% 307.7% 1.0B -- 176.7 -- -271.5% -- Buy 6
4 TRST 7.83 -8.9% -0.6% -- 813M 37.7 54.8 -- 74.9% -- Buy 8
7 OGI 5.34 6.4% 33.8% 147.2% 666M -- 267.0 -- -45.1% -- Buy 7
5 EMH 3.70 -9.8% -27.7% 219.0% 501M -- -- -- -1121% -- Strong Buy 1
9 N 1.49 1.4% -16.3% 547.8% 410M -- -- -- -120.6% -- -- --
6 Average 11.39 6.3% 9.0% 295.5% 2.2B 387.3 583.6 -- -148.2% -- Buy 6.3
PEER COMPANIES
ACB Aurora Cannabis Inc HEXO Hydropothecary Corp
APH Aphria Inc TRST CannTrust Holdings Inc
LEAF MedReleaf Corp OGI OrganiGram Holdings Inc
CRON Cronos Group Inc EMH Emerald Health Therapeutics
TGOD Green Organic Dutchman N Namaste Technologies Inc
Page 2 of 11
STOCKREPORTS+
EARNINGS Currency in CAD
NEUTRAL OUTLOOK: Mixed earnings Earnings Score Averages

expectations and performance. Pharmaceuticals Group: 4.8 Mid Market Cap: 6.0
Earnings Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend
Positive APH 10 10 7 9 9
ACB 6 5 8 8 8
CRON 1 1 1 1 1
Negative
LEAF 1 3 NR 1 1
2015-07 2016-07 2017-07 2018-07
EARNINGS INDICATORS
Earnings Surprises Estimate Revisions Recommendation Changes
(33.3% weight) (33.3% weight) (33.3% weight)
APH
ACB
WEED
ACB
APH
ACB WEED
CRON
WEED
CRON
LEAF CRON
LEAF
APH
LEAF
Last 4 Quarters Last 4 Weeks Last 120 Days

# Positive Surprises (> 2%) 3 # Up Revisions 0 # Broker Upgrades 1
# Negative Surprises (< -2%) 1 # Down Revisions 1 # Broker Downgrades 0
# In-Line Surprises (within 2%) 0 Avg Up Revisions 0.0%
Avg Surprise 22.5% Avg Down Revisions -10.0%
HIGHLIGHTS PRICE TARGET

- The Earnings Rating for Canopy Growth Corp improved significantly The chart indicates where analysts predict the stock price will be within
over the past week from 5 to 7. The current rating is considerably the next 12 months, as compared to the current price.
more bullish than the Pharmaceuticals industry average of 4.8.
56.00 12-Month Price Target
- WEED's current quarter consensus estimate has decreased notably HIGH Mean (CAD) 38.80
over the past 90 days from -0.03 to -0.15, a loss of -400.0%. This 49.00
High 51.00
trails the average Pharmaceuticals industry move of -26.0% during the 42.00 38.42
same time period. MEAN Low 22.00
35.00 Target vs. Current 1.0%
28.00 # of Analysts 10
21.00 LOW
Current Price Price Target
(CAD)
Page 3 of 11
STOCKREPORTS+
EARNINGS PER SHARE

Actuals Estimates
0.100
0.010
-0.010
-0.030
Earnings per share (EPS) is calculated 0.000 Quarterly 18-06 18-09
by dividing a company's earnings by the HIGH
-0.100 MEAN Mean -0.150 -0.090
number of shares outstanding. Analysts LOW
tend to interpret a pattern of increasing High -0.150 -0.090
-0.200
earnings as a sign of strength and flat Low -0.150 -0.090
-0.310
or falling earnings as a sign of -0.300 # of Analysts 1 1
weakness.
-0.400
The charts provide a comparison 17-06 17-09 17-12 18-03 18-06 18-09
between a company's actual and
estimated EPS, including the high and Actuals Estimates
low forecasts. 4.000
3.000 Annual 2019 2020

Mean -0.116 0.440
2.000
High 0.250 0.950
1.000 HIGH Low -0.390 -0.160
-0.130 MEAN
0.000 -0.400
LOW
# of Analysts 8 6
-1.000
2017 2018 2019 2020
MEAN ESTIMATE TREND ANALYST RECOMMENDATIONS

Q Q Y Y Price Thomson Reuters I/B/E/S Mean: Buy (10 Analysts)
18-06 18-09 2019 2020 Target
Current -0.150 -0.090 -0.116 0.440 38.80
Strong Buy 1
30 Days Ago -0.030 -0.030 -0.038 0.587 37.40 Buy 5
90 Days Ago -0.030 -0.030 -0.039 0.600 35.40 Hold 3
% Change (90 Days) -400.0% -200.0% -197.4% -26.7% 9.6%
Reduce 1
Current Fiscal Year End: 19-03
Next Expected Report Date: 2018-08-21 Sell 0
EARNINGS SURPRISES
Comparing a company's actual earnings to the mean expectation of Surprise Detail (Last 6 Periods)
analysts results in a difference referred to as a 'positive' or 'negative'
surprise. Research has shown that when a company reports a Surprise Announce Period End Actual Mean Surprise
surprise, it is often followed by more of the same surprise type. Type Date Date EPS EPS (%)
Surprise Summary (Last 12 Quarters) Negative 2018-06-27 2018-03-31 -0.310 -0.024 -1192%
Positive 2018-02-14 2017-12-31 0.010 -0.053 118.9%
Surprise Type Amount Percent
Positive 2017-11-14 2017-09-30 -0.010 -0.035 71.4%
Positive Quarters (> 2%) 6 54.5%
Positive 2017-08-14 2017-06-30 -0.030 -0.050 40.0%
Negative Quarters (< -2%) 5 45.5%
Negative 2017-06-27 2017-03-31 -0.140 -0.047 -197.9%
In-Line Quarters (within 2%) 0 --
Positive 2017-02-14 2016-12-31 0.020 -0.030 166.7%
ANNUAL REVENUE
A pattern of increasing sales in Actuals Estimates
conjunction with a rising EPS may
influence a buy recommendation, while 1.5B HIGH
2019 2020
flat or falling sales and faltering 1.2B
earnings may explain a sell Mean 324.1M 873.8M
recommendation. A rising EPS with flat 900.0M MEAN High 523.0M 1.5B
or falling sales may result from
increased cost efficiency and margins, 600.0M
Low 187.9M 464.0M
rather than market expansion. This LOW Forecasted Growth 315.8% 1021%
chart shows the sales forecast trend of 300.0M
39.9M 78.0M # of Analysts 9 8
12.7M
all analysts and the highest and lowest
projections for the current and next 0.00
2016 2017 2018 2019 2020
fiscal year.
Page 4 of 11
STOCKREPORTS+
FUNDAMENTAL
NEUTRAL OUTLOOK: Fundamentals relatively Fundamental Score Averages
in-line with the market. Pharmaceuticals Group: 5.7 Mid Market Cap: 7.5
Q3 Q4 Q1 Q2
Fundamental Score Trend Peers 2017 2017 2018 2018 Current 3Y Trend
ACB 9 6 9 8 8
Positive
APH 9 9 9 9 7
Neutral LEAF 7 8 8 7 7
Negative CRON 7 7 4 4 6
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 WEED 8 8 9 8 6
2016 2017
FUNDAMENTAL INDICATORS
Profitability Debt Earnings Quality Dividend
(25% weight) (25% weight) (25% weight) (25% weight)
APH
ACB
CRON
LEAF
WEED
CRON
ACB
APH
LEAF
WEED
WEED
ACB
APH
LEAF
CRON
ACB
APH
CRON
LEAF
WEED
Revenue Growth 95.4% Current Ratio 5.2 Oper. Cash Yield -15.9% Dividend Growth --
For year over year For interim period For latest 12 months For year over year
ending 2018-03 ending 2018-03 ending 2018-03 ending --
Gross Margin 25.2% Debt-to-Capital 0.5% Accruals 32.3% Dividend Payout --
For latest 12 months For annual period For latest 12 months For latest 12 months
Return On Equity -7.9% Interest Funding -0.1% Days Sales In Inv. 857.6 Dividend Coverage --
For interim period For interim period For annual period For annual period
Net Margin -90.3% Interest Coverage -257.5 Days Sales In Rec. 63.8 Current Div. Yield --
For latest 12 months For interim period For annual period For latest 12 months
HIGHLIGHTS
- The Fundamental Rating for Canopy Growth Corp declined - The operating cash yield for the company is at its five-year high.
significantly over the last quarter from a bullish 8 to a relatively neutral - Canopy Growth Corp does not currently pay a dividend. Of 55 firms
6. The average Fundamental Rating for its Pharmaceuticals industry within the Pharmaceuticals industry group, it is among the 55
group is 5.7 and the S&P/TSX COMPOSITE index average is 7.5. companies without a dividend.
- The gross margin for the company is at its five-year high.
- The current ratio for the company is at its five-year low.
Page 5 of 11
STOCKREPORTS+
RELATIVE VALUATION
NEGATIVE OUTLOOK: Multiples significantly Relative Valuation Score Averages
above the market or the stock's historic norms. Pharmaceuticals Group: 2.9 Mid Market Cap: 4.8
Relative Valuation Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend
APH 1 1 1 1 1
Neutral CRON 1 1 1 1 1
LEAF 1 2 1 1 1
Negative
WEED 2 2 2 2 1
2015-07 2016-07 2017-07 2018-07
RELATIVE VALUATION INDICATORS

Price to Sales Trailing PE Forward PE
(50% weight) (25% weight) (25% weight)
ACB
APH
APH
APH CRON
CRON
CRON LEAF
LEAF
WEED
WEED
ACB ACB
LEAF
WEED
Price to Sales 101.0 Trailing PE -- Forward PE 2561

5-Yr Average 20.0 5-Yr Average -- 5-Yr Average --
Rel. to 5-Yr Avg. >100% Premium Rel. to 5-Yr Avg. -- Rel. to 5-Yr Avg. --
TSX Comp Index 1.6 TSX Comp Index 17.7 TSX Comp Index 15.4
Rel. to TSX Comp >100% Premium Rel. to TSX Comp -- Rel. to TSX Comp >100% Premium
HIGHLIGHTS
- Canopy Growth Corp currently has a Relative Valuation Rating of 1 - WEED's Price to Sales ratio of 101.0 represents a >100% Premium to
which is significantly below the S&P/TSX COMPOSITE index average its 5-year average of 20.0.
rating of 4.9. - WEED's current Forward P/E of 2561.0 represents a >100% Premium
- Compared to the Pharmaceuticals industry group, WEED is currently to its Pharmaceuticals industry group average.
trading at a significant premium based on both Price to Sales ratio and
Forward P/E.
Page 6 of 11
STOCKREPORTS+
PRICE TO SALES TRAILING PE

The most recent week's close price divided by the revenue per share. The most recent week's close price divided by the sum of the four most
recently reported quarterly earnings.
Price to Sales: 101.0 Trailing PE: --
5-Year Average: 20.0 5-Year Average: --
TSX Comp Index Average: 1.6 TSX Comp Index Average: 17.7
Pharmaceuticals Group Average: 3.2 Pharmaceuticals Group Average: --
>50 >50
45 45
40 40
35 35
30 30
25 25
20 5-Yr Average 20
15 15
10 10
5 5
0 0
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
FORWARD PE FORWARD PEG

The most recent week's close price divided by the sum of the four The Forward P/E divided by the five-year forecasted growth rate.
upcoming quarterly consensus estimates.
Forward PE: 2561 Forward PEG: --
5-Year Average: -- 5-Year Average: --
TSX Comp Index Average: 15.4 TSX Comp Index Average: 1.1
Pharmaceuticals Group Average: 33.9 Pharmaceuticals Group Average: 5.0
>50 >5.0
45 4.5
40 4.0
35 3.5
30 3.0
25 2.5 This valuation data is not available
20 2.0
15 1.5
10 1.0
5 0.5
0 <0.0
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
Page 7 of 11
STOCKREPORTS+
RISK
NEUTRAL OUTLOOK: Moderate risk (medium Risk Score Averages
volatility). Pharmaceuticals Group: 4.7 Mid Market Cap: 8.5
Risk Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend
Positive CRON 7 5 6 6 6
LEAF 5 4 6 6 6
APH 5 5 6 6 5
Negative
ACB 4 3 4 3 3
2015-07 2016-07 2017-07 2018-07
RISK INDICATORS
Magnitude of Returns Volatility Beta (1-year) Correlation
(25% weight) (25% weight) (25% weight) (25% weight)
LEAF CRON
LEAF
WEED APH APH WEED
APH WEED CRON ACB
CRON ACB WEED APH
CRON
ACB
ACB
LEAF
LEAF
Daily Returns (Last 90 Days) Standard Deviation Beta vs. TSX Comp 2.11 Correlation vs. TSX Comp
Best 10.1% Last 90 Days 4.67 Positive Days Only 1.13 Last 90 Days 8%
Worst -12.6% Last 60 Months 23.73 Negative Days Only 2.68 Last 60 Months 29%
Monthly Returns (Last 60 Months) Intra-Day Swing (Last 90 Days) Beta vs. Group 1.22 Correlation vs. Group
Best 80.2% Average 6.0% Positive Days Only 0.84 Last 90 Days 66%
Worst -22.5% Largest 19.6% Negative Days Only 2.05 Last 60 Months 30%
HIGHLIGHTS RISK ANALYSIS

- Canopy Growth Corp currently has a Risk Rating of 6, which is Last 90 Days Last 60 Months
significantly below the S&P/TSX COMPOSITE index average Best Worst # # Largest Best Worst
rating of 8.6. Daily Daily Days Days Intra-Day Monthly Monthly
- On days when the market is up, WEED shares tends to Peers Return Return Up Down Swing Return Return
outperform the S&P/TSX COMPOSITE index. However, on WEED 10.1% -12.6% 36 28 19.6% 80.2% -22.5%
days when the market is down, the shares generally decrease
by more than the index. ACB 12.4% -11.0% 31 32 15.7% 246.4% -26.7%
- In the short term, WEED has shown low correlation (>= -0.1 APH 14.9% -10.6% 31 33 18.4% 162.5% -25.1%
and < 0.2) with the S&P/TSX COMPOSITE index. The stock
has, however, shown average correlation (>= 0.2 and < 0.4) CRON 13.1% -11.4% 28 34 20.3% 142.3% -26.6%
with the market in the long term.
LEAF 10.4% -7.4% 33 29 12.0% 39.6% -11.1%
- Over the last 90 days, WEED shares have been more volatile
than the overall market, as the stock's daily price fluctuations TSX Comp 1.3% -1.6% 42 22 1.4% 4.9% -4.3%
have exceeded that of 99% of S&P/TSX COMPOSITE index
firms.
Page 8 of 11
STOCKREPORTS+
PRICE MOMENTUM Currency in CAD
POSITIVE OUTLOOK: Strong recent price Price Momentum Score Averages

performance or entering historically favorable Pharmaceuticals Group: 7.5 Mid Market Cap: 6.6
seasonal period. Pharma. & Med. Research Sector: 6.6 TSX Comp Index: 6.6
Price Momentum Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend
LEAF 10 6 10 10 10
APH 10 3 8 9 9
Negative
CRON 10 5 9 9 9
2015-07 2016-07 2017-07 2018-07
PRICE MOMENTUM INDICATORS

Relative Strength Seasonality
(70% weight) (30% weight)
ACB
LEAF APH
WEED CRON
ACB LEAF
WEED
APH
CRON
Relative Strength Indicator (Scale from 1 to 100) Average Monthly Return (Last 10 Years)
WEED Industry Avg JUL AUG SEP
Last 1 Month 51 49 Company Avg -0.4% -7.4% 3.2%
Last 3 Months 54 50 Industry Avg 3.5% 1.2% 4.1%
Last 6 Months 55 51 Industry Rank 7 of 77 25 of 77 7 of 76
PRICE PERFORMANCE
Daily close prices are used to calculate the WEED WEED TSX Mid
performance of the stock as compared to a
TSX Mid Close Price (2018-06-29) 38.42 1,008
relevant index over five time periods.
52-Week High 48.72 1,027
-11.5%
1-Week 52-Week Low 7.73 939
-1.6%
5.1% - The Price Momentum Rating for Canopy Growth Corp is at its
1-Month
1.4% 3-year high of 10.
- On 2018-06-29, WEED closed at 38.42, 21.1% below its 52-
14.1%
3-Month week high and 397.0% above its 52-week low.
5.1%
- WEED shares are currently trading 7.6% above their 50-day
29.2% moving average of 35.70, and 40.1% above their 200-day
YTD moving average of 27.43.
-0.1%
383.3%
1-Year
4.7%
Page 9 of 11
STOCKREPORTS+
Mean Estimate Trend

DETAILED STOCK REPORT TIPS The mean estimates show how the consensus has changed over the past 30 days
and 90 days for the upcoming two quarters (when available) and two years. The
The Thomson Reuters Stock Report is a comprehensive, company-specific analysis percentage change is calculated for the company as a means for comparison by
that includes a proprietary Stock Rating along with underlying component indicators measuring the difference between the current consensus estimate and that of 90
and supportive data elements. The report is updated daily, although some of the days ago.
data elements and the ratings are updated weekly.
Analyst Recommendations
Average Score The I/B/E/S Mean is the average recommendation of all analysts covering the stock,
The Average Score combines a quantitative analysis of five widely-used investment as provided by Thomson Reuters I/B/E/S (Institutional Brokers Estimate System).
decision making tools - Earnings, Fundamental, Relative Valuation, Risk, and Price The recommendations are presented on a five-point standardized scale: strong buy,
Momentum. First, a simple average of the five underlying component ratings is buy, hold, reduce, and sell.
calculated. Then, a normal distribution is used to rank each stock across the market
on a scale of 1 to 10, with 10 being most favorable. A score of 8 to 10 is considered Earnings Surprises
positive, 4 to 7 is neutral, and 1 to 3 is negative. These five factors may be ● The surprise summary includes the total number of time periods (and
evaluated differently using alternative methodologies, and the importance of percentage) in the last 12 quarters (quarterly) or last 4 years (annual) in which
individual factors varies across industry groups, market capitalization and earnings surprises were positive, negative, or in-line. In order to be recognized
investment styles. Additional criteria should always be used to evaluate a stock. as a positive or negative surprise, the percent must be greater than 2% above or
2% below the consensus, respectively.
A company must have sufficient data available for at least three of the five ● The surprise detail section includes a listing of the company's quarterly earnings
component indicators in order to receive an overall Average Score. Approximately reported for the most recent 6 periods (quarters or years). The consensus
85% of the stocks within the coverage universe meet the criteria to generate a analyst estimate is provided to determine if the actual earnings report
score. represented a positive surprise, negative surprise, or in-line result.
Indicator Components Fundamental
The five indicators that comprise the stock rating are displayed. Like the stock The Fundamental Rating is based on a combination of four fundamental component
rating, the component rating scale is 1 to 10, with 10 being best. A company will factors: profitability, debt, earnings quality, and dividend. Companies that do not
receive an ‘NR’ for No Rating if the required data elements or criteria are not met. A pay a dividend are not penalized. Each factor is equally weighted. Then, equal
detailed section for each component is included in the report. deciles are used to rank each stock across the market on a scale of 1 to 10, with 10
being most favorable. A stock needs to have at least two of the four fundamental
Indicator Trends factors present in order to receive a score.
Within each component section, historical score trends are displayed, typically using
a 4-week moving average over a timeframe of the past three years. The dotted ● Profitability is comprised of four data elements.
orange line indicates the average of the scores over those three years. The most - Revenue Growth: (Net Sales – Previous Net Sales) / Previous Net Sales
recent occurrences of the best and worst scores are also displayed on the chart in - Gross Margin: Gross Profit / Net Sales
grey boxes to put the current score into historical context. - Return on Equity: Net Income / Total Equity
- Net Margin: Net Profit / Net Sales
Next to the trend chart for the company, current score averages are included, along ● Debt is comprised of four data elements.
with peer company comparisons of values from 6 months ago, 3 months ago, 1 - Current Ratio: Current Assets / Current Liabilities
month ago, the most recent value from 1 week ago, and the current score. The four - Debt-to-Capital: Total Debt / Total Capital
closest industry peers are presented based on similar market capitalization. - Interest Funding: (Interest Expense on Debt + Preferred Cash Dividends) /
Funds from Operations
Peer Analysis - Interest Coverage: Earnings before Interest and Taxes / (Interest Expense on
● The Thomson Reuters Business Classification (TRBC) system is used for Debt + Preferred Cash Dividends)
industry comparisons. It is designed to track and display the primary business of ● Earnings Quality is comprised of four data elements.
a corporation by grouping together correlated companies that offer products and - Operating Cash Yield: (Operating Cash Flow – Net Income) / Net Income
services into similar end markets. The system includes 10 Economic Sectors, 28 - Accruals: (Net Income – Operating Cash Flow – Investing Cash Flow) /
Business Sectors, 54 Industry Groups, and 136 Industries. Average Net Operating Assets
● The Peer Analysis section of the report compares the company to its ten closest - Days Sales in Inventory: 365 / (Cost of Goods Sold / Inventory)
peers. The peers are selected from the industry based on similar market - Days Sales in Receivables: 365 / (Net Sales / Receivables)
capitalization. The peer listing may have fewer than ten companies if there are ● Dividend is comprised of four data elements. The company must have a current
fewer than ten companies within that industry classification. dividend yield.
- Dividend Growth Rate: (Dividends per Share – Previous Dividends per Share)
Highlights / Previous Dividends per Share
The Thomson Reuters proprietary automated text-generation system creates - Dividend Payout: Dividends per Share / Earnings per Share
highlights summarizing the most noteworthy data. The bullets will vary by company - Dividend Coverage: Funds from Operations / Cash Dividends
and will change from week to week as different criteria are met. - Dividend Yield: Annual Dividends per Share / Current Market Price per Share
Earnings Indicator Trend

The Earnings Rating is based on a combination of three factors: earnings surprise, The fundamental indicator trend displays either quarterly scores over the past three
estimate revision, and recommendation changes. Each factor is equally weighted. years or annual scores over the past six years, depending on the reporting periods
Then, equal deciles are used to rank each stock across the market on a scale of 1 for the country. The best and worst scores can be easily determined from the
to 10, with 10 being most favorable. A stock needs to have at least two of the three values shown on the chart for each quarter or year.
earnings factors in order to receive a score.
Relative Valuation
● Earnings Surprises - The number of positive and negative surprises within the The Relative Valuation Rating is based on a combination of three component
last 4 periods (quarters or years). factors: Price to Sales (50% weight), Trailing P/E (25% weight), and Forward P/E
● Estimate Revisions - The number of up and down revisions and the average (25% weight). After the weightings are considered to combine individual factors,
percentage change of those revisions within a 4 week period. equal deciles are used to rank each stock across the market on a scale of 1 to 10,
● Recommendation Changes - The number of broker upgrades and downgrades in with 10 being most favorable. These common valuation metrics are evaluated
the last 120 days. against the overall market, the index, and the company's own historic 5-year
averages. A stock needs to have at least one of the three relative valuation factors
Price Target in order to receive a score.
The price target is based on the predictions of analysts covering the stock and
shows the high, low and mean price expected within the next 12 months. ● Price to Sales: Close Price / (Sales for 4 Quarters or 1 Year / Shares
Outstanding)
Earnings Per Share ● Trailing P/E: Close Price / Most Recent 4 Quarters or 1 Year of Earnings
The quarterly and annual earnings per share are presented when available, along ● Forward P/E: Close Price / Upcoming 4 Quarters or 1 Year of Earnings
with the mean, high and low. Quarterly data is displayed for the past 4 quarters
(actual) and the next 2 quarters (estimated). Annual data is displayed for the past 2
years (actual) and the next 2 years (estimated).
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STOCKREPORTS+
Valuation Averages
Negative values are excluded when calculating the averages. A maximum value of
100 is placed on Trailing P/E and Forward P/E, a maximum value of 5 is placed on
Forward PEG, and a maximum value of 20 is placed on Price to Sales when
calculating the averages. Higher values are rounded down to the maximum for the
averages.
Valuation Multiples
The valuation multiples provide the Trailing P/E, Forward P/E, Forward PEG, and
Price to Sales for the company and the S&P 500 index average. In addition, a
comparison of the current company’s values to its 5-year average and an industry
average are presented. A discount occurs when the company’s ratio is valued more
favorably (lower) than that to which it is compared.
Risk
The Risk Rating displays stocks on a scale of 1 to 10 with 10 being awarded to the
least risky stocks. It is derived by looking at a series of long-term (5-year) and
short-term (90-day) stock performance measures including volatility, magnitude of
returns, beta, and correlation. Each factor is equally weighted. Then, equal deciles
are used to rank each stock across the market. A stock needs to have at least two
of the four risk factors in order to receive a score.
● Magnitude of Returns – The best / worst daily returns in the past 90 days and the
best / worst monthly returns in the past 60 months.
● Volatility – The standard deviation of the stock price over the last 90 days and
last 60 months, along with the average and largest intra-day stock swing.
● Beta – Measures the tendency of a security’s returns to respond to swings in the
market, based on the beta of the company versus the relevant index.
● Correlation – Determines how closely the returns of the stock and the relevant
index move together, measured over the last 90 days and last 60 months.
Risk Analysis
Price analysis for the company and the relevant index is provided over two time
periods. Daily analysis is provided for the last 90 days, whereas monthly statistics
are used for the last 60 months.
Price Momentum
The Price Momentum Rating is based on a combination of two technical
performance factors: relative strength (70% weight) and seasonality (30% weight).
After the weightings are considered to combine individual factors, equal deciles are
used to rank each stock across the market on a scale of 1 to 10, with 10 being most
favorable. A stock needs to have data for the relative strength factor in order to
receive a score.
● Relative Strength – The relative strength of the company for the last 1 month, 3
months, and 6 months on a scale of 1 to 100.
● Seasonality – The average monthly return (price performance) for the current
month and next 2 months for the company and industry, over the past 10 years.
A lower industry rank indicates a higher return.
Price Performance
Daily close prices are used to calculate the price performance of the stock. The
performance of the relevant index is also displayed as a means of comparison.
DISCLAIMER
Republication or redistribution of Thomson Reuters content, including by framing
or similar means, is prohibited without the prior written consent of Thomson
Reuters. All information in this report is assumed to be accurate to the best of our
ability. Thomson Reuters is not liable for any errors or delays in Thomson
Reuters content, or for any actions taken in reliance on such content.
Any forward-looking statements included in the Thomson Reuters content are based
on certain assumptions and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from current expectations. There is no
assurance that any forward-looking statements will materialize.
The content in this Thomson Reuters report does not constitute investment advice
or a recommendation to buy or sell securities of any kind. Past performance is not a
guarantee of future results. Investors should consider this report as only a single
factor when making an investment decision.
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STOCKREPORTS+

CANOPY GROWTH CORP (WEED-T)

HIGHLIGHTS THOMSON REUTERS I/B/E/S MEAN

PRICE AND VOLUME CHARTS

Earnings Fundamental Relative Valuation Risk Price Momentum

PEER ANALYSIS Currency in CAD

PRICE MOMENTUM VALUATION FUNDAMENTAL ANALYSTS

EARNINGS Currency in CAD

NEUTRAL OUTLOOK: Mixed earnings Earnings Score Averages

Last 4 Quarters Last 4 Weeks Last 120 Days

HIGHLIGHTS PRICE TARGET

EARNINGS PER SHARE

3.000 Annual 2019 2020

MEAN ESTIMATE TREND ANALYST RECOMMENDATIONS

RELATIVE VALUATION INDICATORS

Price to Sales 101.0 Trailing PE -- Forward PE 2561

PRICE TO SALES TRAILING PE

FORWARD PE FORWARD PEG

HIGHLIGHTS RISK ANALYSIS

PRICE MOMENTUM Currency in CAD

POSITIVE OUTLOOK: Strong recent price Price Momentum Score Averages

PRICE MOMENTUM INDICATORS

Mean Estimate Trend

Earnings Indicator Trend

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