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Canaan Inc. Sponsored ADR

CAN Technology Computer Hardware

Canaan Inc. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $529.7 million, up 96.7% from fiscal 2024.

Revenue
−68.2%
EPS
−333.3%
Free cash flow
+11.3%
Total debt
+26.8%

Quarter to June 2026, against a year earlier

0.18 0.00 0.00%
Market cap
$127.3M
P/E
0.0×
Fwd P/E
−0.5×
Dividend yield
—
F-score
4/9
Altman Z
0.55
Beneish M
−3.86
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.82%

Capital & Financial Ratios $m

Size
Market Cap 127.32
Revenue ttm 441.31
Net income ttm (210.27)
Free cash flow ttm (612.74)
Net debt Q (8.93)
Valuation
P/E 0.00
Forward P/E (0.49) (negative: loss-making)
Price / sales 0.30
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.44
Financial health
Current ratio Q 2.86 (at or above 1.5: strong)
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q (124.36)
Growth
Revenue growth Q −68.20% (below 0%: shrinking)
Operating income growth Q −119.05% (below 0%: shrinking)
EPS, this year −67.78% (below 0%: weak)
EPS, next year A −2.40% (below 0%: weak)
Revenue, next year A −96.00% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +0.25%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.8×; over the ten years it ranged from 0.1× in 2022 to 33.6× in 2021.
P/S against its own 10 years 0.20%
10-year low 10-year high
P/B against its own 10 years 0.29%
10-year low 10-year high
EV/Sales against its own 10 years 9.00%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 96 96 81 68
Receivables 3 52 72 31
Inventory 142 95 181 129
Other — — — —
364 334 433 311
2023 2024 2025 Q'26
Payables 6 14 26 15
ST’ Debt — 17 29 24
Other 60 92 9 4
135 179 131 108

Compound Annual Growth %

10y 5y 3y
Sales 9.91% 50.50% (6.67%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 28.69% 45.84% (10.38%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate −0.10 Actual −0.12

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 −0.06 −0.05 Beat by 0.01
Dec 2025 −0.06 −0.13 Miss by 0.07
Mar 2026 −0.07 −0.13 Miss by 0.06
Jun 2026 −0.10 −0.12 Miss by 0.02
Sep 2026 −0.06 — Reports 17 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.13) (0.13) — — —
’25 (0.27) (0.03) (0.05) (0.13) (0.45)
’24 (0.16) (0.15) (0.27) (0.33) (0.92)
’23 (0.51) (0.65) (0.47) (0.77) (2.41)
’22 0.41 0.53 0.04 (0.53) 0.41
’21 0.00 0.22 0.41 1.07 1.84
’20 (0.04) (0.02) (0.08) (0.07) (0.21)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 63 32 — — —
’25 83 100 150 196 530
’24 35 72 74 89 269
’23 55 74 33 49 211
’22 202 246 146 58 652
’21 61 168 204 349 783
’20 10 25 24 10 69
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — (52) — — —
’25 — (200) — (271) (271)
’24 — (110) (59) (30) (199)
’23 — (48) (37) (39) (124)
’22 — — — (183) (183)
’21 — — — 226 226
’20 — — — (44) 6
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — (54) — — —
’25 — (220) — (295) (295)
’24 — (105) (61) (44) (210)
’23 — (50) (37) (38) (125)
’22 — — — (200) (200)
’22 — — — — (252)
’21 — — — 220 220
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 48 194 409 204 69 783 652 211 269 530 441 +30.7% 21 36 44 (56.5%)
Gross margin, % 40.16 45.51 18.34 100.00 8.44 57.17 35.35 (113.86) (31.31) 7.77 (4.77) (32.4) pt
EBT 9 59 30 204 (33) 322 88 (465) (172) (207) (292) n/m
EBT margin, % 17.95 30.65 7.40 100.00 (48.04) 41.12 13.56 (220.12) (63.96) (39.17) (66.27) (57.1) pt
Net income 8 0 0 0 (33) 314 70 (414) (250) (210) (210) n/m
Per share, $
Per share, $ Revenue 0.00 1.24 2.61 1.42 0.44 4.65 3.82 1.23 0.99 1.13 0.61 n/m
Earnings — — — (1.04) (0.21) 1.87 0.41 (2.41) (0.92) (0.45) (0.44) (13.0%)
Cash flow 0.00 0.09 (0.01) 0.00 0.04 1.34 (1.07) (0.72) (0.73) (0.58) (0.76) n/m
Capex — 0.00 0.00 0.00 0.00 (0.03) (0.10) (0.01) (0.04) (0.05) (0.08) n/m
Free cash flow 0.00 0.09 (0.01) 0.00 0.04 1.31 (1.17) (0.72) (0.77) (0.63) (0.85) n/m
Book value 0.00 0.84 0.22 0.00 0.42 3.23 3.56 2.03 0.98 0.93 0.40 n/m
Shares, m — 157 157 144 156 168 171 172 271 470 601 +14.7%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 2.97 4.33 0.00 0.00 0.00 0.00 0.7
P/S 0.00 0.00 0.00 0.00 13.52 1.11 0.51 1.76 2.07 0.61 0.30 2.0
P/B 9.16 9.16 9.16 9.16 13.99 1.60 0.54 1.07 2.09 0.74 0.44 5.7
EV/Sales 0.00 0.00 0.00 0.00 12.58 0.56 0.36 1.31 1.80 0.56 0.27 1.7
EV/FCF 0.00 0.00 0.00 0.00 0.00 0.00 44.42 (0.85) (1.96) (0.48) (0.20) 4.1
Cash, $m
Cash, $m Operating cash flow (12) 13 (2) (45) 6 226 (183) (124) (199) (271) (552) +41.9%
Capex (5) (2) (4) (1) 0 (6) (18) (1) (11) (24) (60) +18.9%
Free cash flow (12) 13 (2) (45) 6 220 (200) (125) (210) (295) (613) +43.3%
Balance, $m
Balance, $m Working capital 29 128 30 94 64 500 480 228 155 302 202 +29.6%
Net debt (4) (41) 73 (56) (64) (426) (100) (96) (71) (28) (9) +24.7%
Shareholders’ equity 34 132 35 99 66 543 608 348 266 437 293 +32.8%
Returns, %
Returns, % ROA 7.09 0.00 0.00 (208.81) (21.89) 60.21 8.91 (70.30) (52.23) (39.45) (57.61) (46.5) pt
ROIC 0.00 0.00 0.00 0.00 (1,275.81) 153.74 6.26 (95.41) (71.34) (15.81) (33.75) (15.8) pt
ROE 9.55 67.17 22.19 0.00 (39.77) 103.08 12.15 (86.66) (81.29) (59.77) (97.07) (69.3) pt
People
People Employees — — 297 — 248 346 541 445 463 399 — +4.3%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.28 2.26 1.20 0.48 0.58 1.33 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Canaan Inc. Sponsored ADR vs peers in Computer Hardware (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NNDM Nano Dimension Ltd. $264.3M — (loss-making) 209× +12.10% (above 0%: growing) n/m +49.35% (above 0%: growing) 45.90% (71.03%) Compare
XTND Xtend AI Robotics, Inc. $241.9M — (loss-making) — (loss-making) +146.19% (above 0%: growing) n/m −24.75% (below 0%: shrinking) 14.70% (45.00%) Compare
BGIN Bgin Blockchain Limited $175.4M — — — — — — — Compare
VELO Velo3D, Inc. $155.6M — (loss-making) — (loss-making) +52.25% (above 0%: growing) n/m −731.61% (below 0%: shrinking) 21.50% (53.53%) Compare
CAN Canaan Inc. Sponsored ADR $127.3M — (loss-making) — (loss-making) −68.20% (below 0%: shrinking) n/m +11.34% (above 0%: growing) (92.06%) (192.04%)
OSS One Stop Systems, Inc. $98.1M 151× — (loss-making) +35.85% (above 0%: growing) n/m −269.30% (below 0%: shrinking) 42.58% (6.63%) Compare
YIBO Planet Image International Limited $63.4M — — — — −222.46% (below 0%: shrinking) — — Compare
QTEX QTREX Quantum Ltd. $62.2M — (loss-making) 12.2× — n/m −1,872.62% (below 0%: shrinking) 0.00% 0.00% Compare
TACT TransAct Technologies Incorporated $52.0M — (loss-making) — (loss-making) +1.09% (above 0%: growing) n/m −83.08% (below 0%: shrinking) 50.20% (0.39%) Compare
Median of peers $126.9M — — +35.85% — −222.46% 32.04% (25.81%)

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stockrow.com/CAN · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com