Canaan Inc.
CAN Nasdaq· Finance Services
Last close · Oct 26, 2026
$0.21
KIRA · Stoqly’s AI analyst, in plain words
- Canaan Inc. had $530M of revenue in fiscal 2025, up 96.7% on the year before. Over five years, revenue changed +50.5% a year on average.
- Its operating margin was −21.2%, up 63.1 pts: of every 100 in sales, about −21 is left after running the business.
- Canaan Inc. lost $210M in fiscal 2025.
- Free cash flow was −$296M in fiscal 2025, −55.8% of revenue.
- Canaan Inc. returned $5.0M to shareholders in fiscal 2025. The diluted share count rose 72.9%.
- Canaan Inc. has $28.5M more cash than debt.
Market cap
$99.3M
P/E
—
Revenue
$530M
Net income
−$210M
Free cash flow
−$296M
Operating margin
−21.2%
Canaan Inc. in 30 seconds · fiscal 2025
Are sales growing?
+96.7%
Yes. Sales grew 96.7% last year.
Does it make a profit?
−39.7%
No. It lost money last year.
Does profit turn into cash?
−55.8%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Canaan Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 15, 2026
- Legal name
- Canaan Inc.
- CIK
- 0001780652
Canaan Inc. · CAN
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $773M | $652M | $211M | $269M | $530M |
| Revenue growth | 1,026.3% | −15.7% | −67.5% | 27.4% | 96.7% |
| Gross margin | 57.2% | 35.3% | −113.9% | −31.3% | 7.8% |
| Operating margin | 36.6% | 6.6% | −194.3% | −84.3% | −21.2% |
| Net income | $309M | $69.9M | −$414M | −$250M | −$210M |
| Net margin | 40.0% | 10.7% | −195.8% | −92.7% | −39.7% |
| Diluted EPS | $180.00 | $40.65 | −$240.90 | −$91.95 | −$44.85 |
| Cash | |||||
| Cash from operations | $202M | −$183M | −$124M | −$199M | −$271M |
| Capital expenditure | $5.6M | $17.7M | $3.3M | $19.3M | $24.6M |
| Free cash flow | $197M | −$200M | −$127M | −$219M | −$296M |
| FCF margin | 25.4% | −30.8% | −60.0% | −81.2% | −55.8% |
| Share buybacks | $16.1M | $37.4M | — | — | $5.0M |
| Share count change | 9.8% | 0.1% | 0.1% | 57.9% | 72.9% |
| Debt and strength | |||||
| Cash and short-term investments | $421M | $102M | $96.2M | $96.5M | $80.8M |
| Debt incl. finance leases | — | — | — | $23.9M | $52.2M |
| Shareholders' equity | $542M | $608M | $348M | $266M | $437M |
| Current ratio | 2.5x | 7.4x | 2.7x | 1.9x | 3.3x |
| Interest coverage | — | — | — | −436.0x | −57.1x |
| Returns and quality | |||||
| Return on capital | — | — | — | −92.6% | −21.7% |
| Return on equity | 101.5% | 12.2% | −86.7% | −81.3% | −59.8% |
| Return on tangible equity | 57.0% | 11.5% | −118.9% | −94.1% | −48.2% |
| Piotroski F-score | 6 | 3 | 1 | 4 | 4 |
| Altman Z'' | 8.0 | 14.2 | −1.5 | −2.8 | 1.2 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Canaan Inc. · CAN
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $0.21 a share, the company is worth $99.3M.
Source: SEC EDGAR XBRL filings (CIK 0001780652). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.