NASDAQ : CAN
Canaan Inc. — Financial statements
Technology · Computer Hardware · Singapore
Last price 0.2005 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 149.80M
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Financial statements
Canaan Inc. (CAN) reported revenue of 441.31M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 340.03M | 413.78M | 223.23M | 176.90M | 618.89M | 768.14M |
| Other Revenue | 101.27M | 115.95M | 46.09M | 34.58M | 32.64M | 4.62M |
| Revenue | 441.31M | 529.74M | 269.32M | 211.48M | 651.53M | 772.76M |
| Cost of Revenue | 462.34M | 488.58M | 353.64M | 452.26M | 421.24M | 331.00M |
| Gross Profit | -21.03M | 41.16M | -84.32M | -240.78M | 230.29M | 441.76M |
| Selling, General & Admin | 74.18M | 81.65M | 77.40M | 79.42M | 97.72M | 106.61M |
| Research & Development | 58.05M | 63.15M | 61.32M | 64.84M | 81.75M | 52.17M |
| Other Operating Expenses | 4.71M | 7.88M | ||||
| Operating Expenses | 132.22M | 144.80M | 138.72M | 148.97M | 187.35M | 158.78M |
| Operating Income | -153.26M | -103.64M | -223.04M | -389.75M | 42.94M | 282.97M |
| Interest Expense | -2.63M | -1.97M | -521.00K | |||
| Interest & Investment Income | 266.00K | 266.00K | 536.00K | 956.00K | 2.37M | 1.18M |
| Currency Exchange Gain (Loss) | -11.73M | -3.52M | 14.13M | 12.31M | 35.94M | 2.24M |
| Other Non Operating Income (Expenses) | -107.05M | -61.86M | 91.44M | -8.68M | 7.09M | 30.46M |
| EBT Excluding Unusual Items | -278.34M | -170.72M | -117.46M | -385.17M | 88.33M | 316.85M |
| Gain (Loss) on Sale of Assets | 1.34M | 1.58M | 7.21M | |||
| Asset Writedown | -19.39M | -10.17M | -11.30M | -21.13M | ||
| Other Unusual Items | -28.18M | -50.73M | -59.20M | |||
| Pretax Income | -296.38M | -207.49M | -172.27M | -465.49M | 88.33M | 316.85M |
| Income Tax Expense | 2.75M | 2.78M | 77.48M | -51.34M | 18.45M | 7.76M |
| Net Income | -299.13M | -210.27M | -249.75M | -414.15M | 69.88M | 309.09M |
| Net Income to Common | -299.13M | -210.27M | -249.75M | -414.15M | 69.88M | 309.09M |
| Shares Outstanding (Basic) | 629.94M | 469.52M | 271.49M | 171.95M | 170.67M | 168.11M |
| Shares Outstanding (Diluted) | 629.94M | 469.52M | 271.49M | 171.95M | 171.86M | 171.74M |
| EPS (Basic) | -0.47 | -0.45 | -0.92 | -2.41 | 0.41 | 1.84 |
| EPS (Diluted) | -0.48 | -0.45 | -0.92 | -2.41 | 0.41 | 1.80 |
| Free Cash Flow | -132.75M | -295.83M | -218.57M | -126.93M | -200.35M | 196.64M |
| Free Cash Flow Per Share | -0.21 | -0.63 | -0.81 | -0.74 | -1.17 | 1.15 |
| Gross Margin | -4.77% | 7.77% | -31.31% | -113.86% | 35.35% | 57.17% |
| Operating Margin | -34.73% | -19.56% | -82.82% | -184.30% | 6.59% | 36.62% |
| Profit Margin | -67.78% | -39.69% | -92.73% | -195.84% | 10.73% | 40.00% |
| Free Cash Flow Margin | -30.08% | -55.84% | -81.15% | -60.02% | -30.75% | 25.45% |
| EBITDA | -110.75M | -56.08M | -194.63M | -330.11M | 76.63M | 285.16M |
| EBITDA Margin | -25.10% | -10.59% | -72.27% | -156.10% | 11.76% | 36.90% |
| D&A For EBITDA | 42.50M | 47.56M | 28.42M | 59.64M | 33.69M | 2.19M |
| EBIT | -153.26M | -103.64M | -223.04M | -389.75M | 42.94M | 282.97M |
| EBIT Margin | -34.73% | -19.56% | -82.82% | -184.30% | 6.59% | 36.62% |
| Effective Tax Rate | 20.89% | 2.45% | ||||
| Revenue as Reported | 441.31M | 529.74M | 269.32M | 211.48M | 651.53M | 772.76M |
| Advertising Expenses | 780.00K | 535.00K | 1.64M | 964.00K | 691.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 66.01M | 80.78M | 96.49M | 96.15M | 101.55M | 422.56M |
| Short-Term Investments | 2.29M | 2.15M | 2.15M | 3.75M | 3.33M | 235.18K |
| Cash & Short-Term Investments | 68.30M | 82.92M | 98.64M | 99.90M | 104.88M | 422.79M |
| Accounts Receivable | 1.73M | 19.29M | 1.51M | 3.00M | 57.77K | |
| Other Receivables | 82.36M | 110.53M | 113.14M | 55.40M | 72.40M | 43.23M |
| Receivables | 84.09M | 129.82M | 114.66M | 58.40M | 72.40M | 43.29M |
| Inventory | 128.84M | 180.82M | 94.62M | 142.29M | 211.64M | 127.88M |
| Restricted Cash | 7.46M | |||||
| Other Current Assets | 29.33M | 39.73M | 26.10M | 63.09M | 166.79M | 228.71M |
| Total Current Assets | 310.55M | 433.29M | 334.02M | 363.68M | 555.71M | 830.13M |
| Property, Plant & Equipment | 29.48M | 46.91M | 43.66M | 31.16M | 89.60M | 34.08M |
| Long-Term Investments | 12.79M | 2.85M | 2.78M | 2.82M | 2.87M | 3.15M |
| Other Intangible Assets | 583.00K | 689.00K | 901.00K | |||
| Long-Term Deferred Tax Assets | 197.00K | 191.00K | 295.00K | 66.81M | 21.74M | 15.59M |
| Other Long-Term Assets | 92.64M | 118.96M | 81.35M | 28.83M | 15.04M | 3.66M |
| Total Assets | 446.24M | 602.88M | 463.01M | 493.30M | 684.96M | 886.61M |
| Accounts Payable | 15.46M | 25.60M | 13.97M | 6.25M | 16.70M | 22.58M |
| Accrued Expenses | 20.92M | 32.98M | 23.30M | 26.70M | 28.82M | 42.38M |
| Short-Term Debt | 10.16M | |||||
| Current Portion of Long-Term Debt | 23.89M | 28.52M | 16.66M | |||
| Current Portion of Leases | 1.23M | 1.71M | 1.24M | 1.22M | 2.31M | 2.33M |
| Current Income Taxes Payable | 11.83M | 11.40M | 10.93M | 3.53M | 7.23M | 23.41M |
| Current Unearned Revenue | 4.11M | 9.32M | 24.25M | 19.61M | 662.00K | 211.05M |
| Other Current Liabilities | 20.91M | 21.57M | 88.22M | 77.89M | 19.53M | 26.48M |
| Total Current Liabilities | 108.50M | 131.09M | 178.57M | 135.19M | 75.26M | 328.23M |
| Long-Term Debt | 34.90M | 23.73M | 7.28M | |||
| Long-Term Leases | 481.00K | 948.00K | 1.70M | 210.00K | 1.44M | 2.56M |
| Long-Term Unearned Revenue | 9.56M | 9.26M | 9.05M | 9.19M | ||
| Long-Term Deferred Tax Liabilities | 99.00K | 117.00K | 153.00K | |||
| Other Long-Term Liabilities | 370.00K | 516.00K | 598.00K | 11.36M | ||
| Total Liabilities | 153.53M | 165.52M | 196.76M | 145.11M | 77.30M | 342.15M |
| Common Stock | 1.00K | 1.00K | 157.00 | |||
| Additional Paid-In Capital | 1.19B | 1.18B | 816.36M | 653.86M | 492.22M | 455.11M |
| Retained Earnings | -832.22M | -645.87M | -435.60M | -204.74M | 209.41M | 141.79M |
| Treasury Stock | -20.25M | -37.17M | -57.05M | -57.05M | -57.05M | -36.41M |
| Comprehensive Income & Other | -47.63M | -56.65M | -57.46M | -43.88M | -36.91M | -16.04M |
| Shareholders' Equity | 292.71M | 437.37M | 266.25M | 348.19M | 607.67M | 544.45M |
| Total Liabilities & Equity | 446.24M | 602.88M | 463.01M | 493.30M | 684.96M | 886.61M |
| Total Debt | 70.66M | 54.90M | 26.88M | 1.43M | 3.75M | 4.90M |
| Net Cash (Debt) | -2.35M | 28.02M | 71.76M | 98.47M | 101.12M | 417.90M |
| Net Cash Per Share | -0.00 | 0.06 | 0.26 | 0.57 | 0.59 | 2.43 |
| Filing Date Shares Outstanding | 747.15M | 667.67M | 307.61M | 234.33M | 166.40M | 172.03M |
| Total Common Shares Outstanding | 747.15M | 667.67M | 307.61M | 234.33M | 166.40M | 171.83M |
| Working Capital | 202.06M | 302.20M | 155.45M | 228.49M | 480.46M | 501.90M |
| Book Value Per Share | 0.39 | 0.66 | 0.87 | 1.49 | 3.65 | 3.17 |
| Tangible Book Value | 292.12M | 436.68M | 265.35M | 348.19M | 607.67M | 544.45M |
| Tangible Book Value Per Share | 0.39 | 0.65 | 0.86 | 1.49 | 3.65 | 3.17 |
| Land | 120.00K | 120.00K | 120.00K | |||
| Machinery | 135.31M | 141.27M | 93.27M | 106.51M | 113.17M | 28.73M |
| Construction In Progress | 929.00K | 4.37M | 9.98M | 104.68K | ||
| Leasehold Improvements | 5.35M | 5.22M | 5.05M | 5.77M | 4.80M | 3.37M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -299.13M | -210.27M | -249.75M | -414.15M | 69.88M | 309.09M |
| Depreciation & Amortization | 42.50M | 47.56M | 28.42M | 59.64M | 33.69M | 4.95M |
| Other Amortization | 694.00K | 694.00K | 9.74M | 5.63M | ||
| Loss (Gain) From Sale of Assets | -1.58M | -1.58M | -7.21M | 18.00K | 193.00K | 7.00K |
| Asset Writedown & Restructuring Costs | 10.17M | 10.17M | 11.30M | 21.13M | ||
| Loss (Gain) From Sale of Investments | -29.47M | |||||
| Stock-Based Compensation | 22.80M | 22.80M | 30.92M | 42.07M | 63.02M | 76.50M |
| Provision & Write-off of Bad Debts | 85.00K | 85.00K | 2.98M | 14.00K | 13.00K | 143.00K |
| Other Operating Activities | 264.16M | 22.61M | 78.20M | 145.92M | 63.11M | -12.70M |
| Change in Accounts Receivable | -17.66M | -17.66M | 97.00K | -3.01M | 58.00K | 1.06M |
| Change in Inventory | -138.32M | -138.32M | -129.27M | -123.68M | -232.16M | -116.15M |
| Change in Accounts Payable | 10.84M | 10.84M | 7.22M | -10.24M | 47.26M | -7.50M |
| Change in Unearned Revenue | -15.11M | -15.11M | 4.80M | 19.03M | -198.73M | 132.41M |
| Change in Income Taxes | -701.00K | -701.00K | 588.00K | -3.60M | -14.65M | 21.58M |
| Change in Other Net Operating Assets | -2.33M | -2.33M | 12.70M | 137.61M | -14.27M | -177.63M |
| Operating Cash Flow | -123.59M | -271.22M | -199.26M | -123.62M | -182.60M | 202.28M |
| Capital Expenditures | -9.16M | -24.61M | -19.30M | -3.31M | -17.75M | -5.64M |
| Sale of Property, Plant & Equipment | 4.04M | 686.00K | 8.78M | 2.29M | 25.00K | |
| Investment in Securities | 3.65M | 6.47M | ||||
| Other Investing Activities | 52.69M | 80.66M | 71.49M | 40.65M | 9.64M | |
| Investing Cash Flow | 51.21M | 56.73M | 60.97M | 39.63M | -8.10M | 848.00K |
| Long-Term Debt Issued | 9.94M | |||||
| Total Debt Issued | 19.56M | 9.94M | ||||
| Short-Term Debt Repaid | -5.49M | |||||
| Long-Term Debt Repaid | -16.97M | |||||
| Total Debt Repaid | -24.41M | -16.97M | -5.49M | |||
| Net Debt Issued (Repaid) | -4.85M | -16.97M | 9.94M | -5.49M | ||
| Issuance of Common Stock | 79.51M | 121.81M | 768.00K | 67.85M | 10.40M | 165.63M |
| Repurchase of Common Stock | -5.66M | -6.61M | -768.00K | -2.42M | -59.96M | -20.04M |
| Other Financing Activities | -6.61M | -879.00K | ||||
| Financing Cash Flow | 69.12M | 197.88M | 139.75M | 90.00M | -56.18M | 139.22M |
| Foreign Exchange Rate Adjustments | 3.36M | 897.00K | -1.12M | -11.41M | -80.02M | 25.45M |
| Net Cash Flow | 102.00K | -15.71M | 334.00K | -5.40M | -326.90M | 367.79M |
| Free Cash Flow | -132.75M | -295.83M | -218.57M | -126.93M | -200.35M | 196.64M |
| Free Cash Flow Margin | -30.08% | -55.84% | -81.15% | -60.02% | -30.75% | 25.45% |
| Free Cash Flow Per Share | -0.21 | -0.63 | -0.81 | -0.74 | -1.17 | 1.15 |
| Levered Free Cash Flow | -71.84M | -194.35M | -34.86M | 108.52M | -190.66M | 172.54M |
| Unlevered Free Cash Flow | -70.20M | -193.12M | -34.53M | 108.52M | -190.66M | 172.54M |
| Cash Interest Paid | 1.26M | 1.34M | 370.00K | 39.00K | ||
| Cash Income Tax Paid | 1.41M | 1.44M | 52.00K | 2.88M | 45.42M | 68.00K |
| Change in Working Capital | -163.29M | -163.29M | -103.86M | 16.11M | -412.50M | -146.23M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 151.67M | 458.36M | 650.37M | 395.12M | 349.58M | 879.35M |
| Enterprise Value | 154.03M | 386.81M | 605.59M | 356.46M | 72.67M | 619.80M |
| Last Close Price | 0.20 | 0.69 | 2.05 | 2.31 | 2.06 | 5.15 |
| PE Ratio | 5.00 | 2.85 | ||||
| Forward PE | 282.91 | 12.42 | 4.22 | 18.55 | ||
| PS Ratio | 0.34 | 0.86 | 2.42 | 1.87 | 0.54 | 1.14 |
| PB Ratio | 0.51 | 1.05 | 2.44 | 1.14 | 0.57 | 1.61 |
| P/TBV Ratio | 0.51 | 1.05 | 2.45 | 1.14 | 0.57 | 1.61 |
| P/FCF Ratio | 4.47 | |||||
| P/OCF Ratio | 4.35 | |||||
| PEG Ratio | 0.06 | 0.06 | 0.06 | 0.06 | ||
| EV/Sales Ratio | 0.34 | 0.73 | 2.25 | 1.69 | 0.11 | 0.80 |
| EV/EBITDA Ratio | 0.95 | 2.17 | ||||
| EV/EBIT Ratio | 1.69 | 2.19 | ||||
| EV/FCF Ratio | 3.15 | |||||
| Debt / Equity Ratio | 0.24 | 0.13 | 0.10 | 0.00 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.05 | 0.02 | ||||
| Debt / FCF Ratio | 0.03 | |||||
| Net Debt / Equity Ratio | 0.01 | -0.06 | -0.27 | -0.28 | -0.17 | -0.77 |
| Net Debt / EBITDA Ratio | -0.02 | 0.50 | 0.37 | 0.30 | -1.32 | -1.47 |
| Net Debt / FCF Ratio | -0.02 | 0.10 | 0.33 | 0.78 | 0.51 | -2.12 |
| Asset Turnover | 0.85 | 0.99 | 0.56 | 0.36 | 0.83 | 1.47 |
| Inventory Turnover | 3.90 | 3.55 | 2.99 | 2.56 | 2.48 | 4.05 |
| Quick Ratio | 1.41 | 1.62 | 1.19 | 1.17 | 2.36 | 1.42 |
| Current Ratio | 2.86 | 3.31 | 1.87 | 2.69 | 7.38 | 2.53 |
| Return on Equity (ROE) | -97.07% | -59.77% | -81.29% | -86.66% | 12.13% | 100.92% |
| Return on Assets (ROA) | -18.45% | -12.15% | -29.15% | -41.35% | 3.42% | 33.70% |
| Return on Invested Capital (ROIC) | -44.42% | -34.33% | -100.42% | -103.08% | 10.73% | 421.16% |
| Return on Capital Employed (ROCE) | -45.40% | -22.00% | -78.40% | -108.80% | 7.00% | 50.70% |
| Earnings Yield | -234.38% | -45.87% | -38.40% | -104.82% | 19.99% | 35.15% |
| FCF Yield | -88.62% | -64.54% | -33.61% | -32.12% | -57.31% | 22.36% |
| Buyback Yield / Dilution | -96.61% | -72.94% | -57.89% | -0.05% | -0.07% | -9.82% |