| Canopy Growth (Nasdaq: CGC) is one of the world's largest cannabis companies, but lately, it's been grabbing headlines for all the wrong reasons. The Canadian producer and distributor of cannabis products has seen its stock price take a beating over the past couple of years as it's worked through significant restructuring and cost-cutting. The company, which produces everything from dried cannabis flower to beverages and edibles, is trying to pivot toward profitability after years of aggressive expansion. It's made big moves into the U.S. market through its Canopy USA business and has maintained strong positions in medical cannabis markets across Europe and Australia. So, is the stock a bargain at current prices? Let's run the numbers through The Value Meter and see what we find. At first glance, Canopy Growth might look cheap. Its enterprise value-to-net asset value (EV/NAV) ratio sits at 1.73, which is well below the average of 6.35 for companies with positive net assets. This suggests you could theoretically buy all of the company's assets at a significant discount. But here's where things take a turn for the worse: Canopy Growth has posted negative free cash flow in each of the past four quarters, and its quarterly free cash flow has averaged -7.53% of its net assets during that span. While that's better than the -18.25% average for companies with similar cash flow struggles, the company is still burning through cash at an alarming rate. Perhaps a deeper dive into Canopy's financials will help ease some of those concerns... | 
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