Canaan Inc. CAN
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.99
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $529.7M | $269.3M | $211.5M | $651.5M | $772.8M | $68.6M | $204.3M | — | — |
| Cost of revenue | $488.6M | $353.6M | $452.3M | $421.2M | $331.0M | $62.8M | $278.5M | — | — |
| Gross profit | $41.2M | -$84.3M | -$240.8M | $230.3M | $441.8M | $5.8M | -$74.1M | — | — |
| R&D | $63.1M | $61.3M | $64.8M | $81.8M | $52.2M | $21.5M | $24.3M | — | — |
| SG&A | $68.1M | $71.7M | $71.2M | $88.3M | $91.1M | $20.2M | $49.9M | — | — |
| Total operating expenses | $153.4M | $142.8M | $170.1M | $187.3M | $158.8M | $44.7M | $77.4M | — | — |
| Operating income | -$112.2M | -$227.1M | -$410.9M | $42.9M | $283.0M | -$38.9M | — | — | — |
| Interest expense | $2.0M | $521.0K | — | — | — | $550.0K | $2.9M | — | — |
| Pre-tax income | -$207.5M | -$172.3M | -$465.5M | $88.3M | $316.9M | -$33.0M | -$148.6M | — | — |
| Income tax | $2.8M | $77.5M | $51.3M | $18.4M | $7.8M | $0 | — | — | — |
| Net income | -$210.3M | -$249.8M | -$414.2M | $69.9M | $309.1M | -$33.0M | -$148.6M | — | — |
| EPS, basic | -2.99 | -6.13 | -16.06 | 2.73 | 12.26 | -1.41 | -6.90 | — | — |
| EPS, diluted | -2.99 | -6.13 | -16.06 | 2.71 | 12.00 | -1.41 | -6.90 | — | — |
| Shares, diluted (wtd. avg.) | $7.04B | $4.07B | $2.58B | $2.58B | $2.58B | $2.35B | $2.15B | $1.98B | $1.97B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $80.8M | $96.5M | $96.2M | — | $421.2M | $60.0M | $74.2M | — | — |
| Short-term investments | — | — | — | — | — | $9.6M | $1.6M | — | — |
| Receivables | $19.3M | $1.5M | $3.0M | — | $58.0K | $1.1M | $413.0K | — | — |
| Inventory | $180.8M | $94.6M | $142.3M | $211.6M | $127.5M | $34.6M | $28.2M | — | — |
| Total current assets | $433.3M | $334.0M | $363.7M | $555.7M | $827.5M | $154.4M | $135.1M | — | — |
| Property, plant and equipment | $44.0M | $40.2M | $29.5M | $85.3M | $29.1M | $1.9M | $3.2M | — | — |
| Other intangibles | $689.0K | $901.0K | — | — | — | — | — | — | — |
| Total assets | $602.9M | $463.0M | $493.3M | $685.0M | $883.8M | $158.8M | $142.4M | — | — |
| Accounts payable | $25.6M | $14.0M | $6.2M | $16.7M | $22.5M | $5.7M | $14.2M | — | — |
| Short-term debt | $28.5M | $16.7M | — | — | — | $5.3M | $14.3M | — | — |
| Total current liabilities | $131.1M | $178.6M | $135.2M | $75.3M | $327.2M | $90.8M | $41.0M | — | — |
| Long-term debt | $23.7M | $7.3M | — | — | — | — | — | — | — |
| Total liabilities | $165.5M | $196.8M | $145.1M | $77.3M | $341.1M | $92.5M | $42.9M | — | — |
| Retained earnings | -$660.8M | -$450.5M | -$219.6M | $194.5M | $126.1M | -$183.2M | -$140.9M | — | — |
| Total equity | $437.4M | $266.3M | $348.2M | $607.7M | $542.5M | $66.3M | $99.5M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$271.2M | -$199.3M | -$123.6M | -$182.6M | $202.3M | $6.5M | -$40.2M | — | — |
| Stock-based compensation | $22.8M | $30.9M | $42.1M | $63.0M | $76.5M | $452.0K | $38.8M | — | — |
| Capital expenditure | $24.6M | $19.3M | $3.3M | $17.7M | $5.6M | $333.0K | $1.2M | — | — |
| Investing cash flow | $56.7M | $61.0M | $39.6M | -$8.1M | $848.0K | -$7.6M | -$2.3M | — | — |
| Financing cash flow | $197.9M | $139.7M | $90.0M | -$56.2M | $139.2M | -$17.2M | $39.9M | — | — |
| Buybacks | $5.0M | — | — | $37.4M | $16.1M | $3.7M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-043786.
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