CAN - Canaan Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$1.93
DETAILS
HIGH:
$3.00
LOW:
$1.30
MEDIAN:
$1.50
CONSENSUS:
$1.93
UPSIDE:
365.06%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Revenue | 529.7 | 269.3 | 211.5 | 651.5 | 771.1 | 68.6 | 1,422.6 | 2,705.3 | 1,308.1 |
| Cost of Revenue | 488.6 | 353.6 | 452.3 | 424.3 | 330.3 | 62.8 | 1,938.6 | 2,197.2 | 703.7 |
| Gross Profit | 41.2 | (84.3) | (240.8) | 230.3 | 440.8 | 5.8 | (516.0) | 508.1 | 604.4 |
| Operating Expenses | |||||||||
| R&D Expenses | 63.1 | 61.3 | 64.8 | 82.4 | 52.1 | 21.5 | 169.0 | 189.7 | 99.8 |
| SG&A Expenses | 81.7 | 77.4 | 79.4 | 97.7 | 106.4 | 23.2 | 369.6 | 185.4 | 146.0 |
| Other Expenses | 8.6 | 4.1 | 25.8 | 7.3 | 0.3 | (0.0) | (33.2) | 0 | 0 |
| Operating Expenses | 153.4 | 142.8 | 170.1 | 187.3 | 158.8 | 44.6 | 505.4 | 262.2 | 209.3 |
| Operating Income | |||||||||
| Operating Income | (112.2) | (227.1) | (410.9) | 42.9 | 282.4 | (38.9) | (1,053.3) | 243.3 | 397.4 |
| Interest Expense | 2.0 | 0.5 | 0 | 0 | 0 | 0.5 | 2.9 | 7.7 | 0 |
| Interest Income | 0.3 | 0.5 | 1.0 | 2.4 | 1.1 | 1.3 | 0.6 | 0.6 | 5.8 |
| Profitability | |||||||||
| EBITDA | (75.2) | (143.3) | (330.1) | 76.9 | 285.2 | (34.1) | (110.8) | 38.7 | 62.8 |
| EBIT | (103.6) | (171.7) | (389.8) | 42.9 | 283.0 | (38.9) | (145.0) | 36.8 | 61.4 |
| Income Before Tax | (207.5) | (172.3) | (465.5) | 88.3 | 316.8 | (33.0) | (1,034.5) | 200.2 | 401.0 |
| Income Tax Expense | 2.8 | 77.5 | (51.3) | 18.4 | 7.7 | 0 | 0 | 77.8 | 25.2 |
| Net Income | (210.3) | (249.8) | (414.2) | 69.9 | 308.4 | (33.0) | (1,034.5) | 122.4 | 375.8 |
| Per Share Data | |||||||||
| EPS (Basic) | -0.45 | -0.92 | -2.40 | 0.41 | 1.80 | -0.20 | -1.04 | 0.14 | 0.44 |
| EPS (Diluted) | -0.45 | -0.92 | -2.40 | 0.41 | 1.80 | -0.20 | -1.04 | 0.13 | 0.44 |
| Shares Outstanding | 468.8 | 271.5 | 171.9 | 171.9 | 171.7 | 156.4 | 143.5 | 131.9 | 131.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 80.8 | 96.5 | 96.2 | 102.3 | 421.7 | 59.9 | 516.6 | 258.9 | 176.5 |
| Short-Term Investments | 0 | 0 | 0 | 3.4 | 0 | 9.6 | 11.0 | 0 | 90 |
| Net Receivables | 19.3 | 114.7 | 58.4 | 72.4 | 0.1 | 15.4 | 2.9 | 23.7 | 1.3 |
| Inventory | 180.8 | 94.6 | 142.3 | 213.2 | 127.6 | 34.5 | 196.1 | 585.7 | 259.8 |
| Other Current Assets | 52.7 | 7.3 | 16.8 | 168.6 | (0.8) | 0.5 | 1,020.6 | 500.1 | 651.9 |
| Total Current Assets | 433.3 | 334.0 | 363.7 | 559.8 | 828.4 | 154.3 | 940.8 | 1,368.4 | 1,179.6 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 46.9 | 43.7 | 31.2 | 90.3 | 34.0 | 4.1 | 45.4 | 27.9 | 18.4 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0.7 | 0.9 | 7.5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 121.3 | 2.8 | 2.8 | 2.9 | 3.1 | 0.0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0.7 | 81.4 | 21.3 | 37.0 | 19.2 | 0.4 | 5.2 | 6.3 | 5.3 |
| Total Non-Current Assets | 169.6 | 129.0 | 129.6 | 130.2 | 56.4 | 4.5 | 50.6 | 34.3 | 23.7 |
| Total Assets | 602.9 | 463.0 | 493.3 | 690.0 | 884.7 | 158.8 | 991.4 | 1,402.7 | 1,203.2 |
| Current Liabilities | |||||||||
| Account Payables | 25.6 | 14.0 | 6.2 | 16.7 | 22.5 | 5.7 | 14.2 | 6.9 | 7.8 |
| Short-Term Debt | 28.5 | 84.8 | 0 | 0 | 2.3 | 7.5 | 18.2 | 152.5 | 0 |
| Deferred Revenue | 0 | 37.1 | 19.6 | 0.7 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 9.3 | 6.0 | 85.0 | (1.3) | 172.6 | 63.4 | 246.2 | (3.8) | (10.3) |
| Total Current Liabilities | 131.1 | 178.6 | 135.2 | 75.3 | 327.5 | 90.8 | 285.2 | 1,161.7 | 346.0 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 23.7 | 7.3 | 0 | 0 | 0 | 0 | 13,399 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 9.7 | 0 | 0.5 | 0.6 | 11.4 | 1.2 | (13,387.5) | 0 | 0 |
| Total Non-Current Liabilities | 34.4 | 18.2 | 9.9 | 2.0 | 13.9 | 1.7 | 13.4 | 0 | 0 |
| Total Liabilities | 165.5 | 196.8 | 145.1 | 77.9 | 341.4 | 92.5 | 298.6 | 1,161.7 | 346.0 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0 | 0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (645.9) | (450.5) | (219.6) | 194.5 | 126.0 | (182.8) | (883.3) | 151.2 | 433.6 |
| Accumulated Other Comprehensive Income | (56.7) | (42.6) | (29.0) | (22.0) | (16.0) | 2.7 | (55.5) | (65.2) | (0.0) |
| Total Stockholders' Equity | 437.4 | 266.3 | 348.2 | 607.7 | 543.3 | 66.3 | 692.8 | 241.0 | 857.2 |
| Total Liabilities & Equity | 602.9 | 463.0 | 493.3 | 690.0 | 884.7 | 158.8 | 991.4 | 1,402.7 | 1,203.2 |
| Debt Metrics | |||||||||
| Total Debt | 54.9 | 95.0 | 1.4 | 3.8 | 4.9 | 9.9 | 13,420.5 | 1,049.0 | 0 |
| Net Debt | (25.9) | (1.5) | (94.7) | (100.8) | (419.1) | (54.1) | 12,903.9 | 790.1 | (176.5) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (210.3) | (249.8) | (414.2) | 494.9 | 308.4 | (203.4) | (1,034.5) | 122.4 | 375.8 |
| Depreciation & Amortization | 0 | 28.4 | 59.6 | 246.4 | 4.9 | 23.9 | 45.1 | 13.1 | 9.1 |
| Stock-Based Compensation | 0 | 30.9 | 42.1 | 0 | 76.3 | 0 | 270.2 | 18.6 | 95.5 |
| Change in Working Capital | 0 | (103.9) | 16.1 | (3,302.6) | (292.1) | 221.1 | (156.0) | 82.2 | (639.0) |
| Other Non-Cash Items | 210.3 | 21.9 | 218.4 | 888.1 | 104.3 | 11.1 | 595.2 | (249.1) | 249.8 |
| Operating Cash Flow | 0 | (199.3) | (123.6) | (1,726.5) | 201.9 | 52.8 | (280.1) | (12.7) | 91.2 |
| Investing Activities | |||||||||
| Capital Expenditure | 0 | (19.3) | (3.3) | (96.8) | (5.6) | (2.1) | (8.4) | (24.9) | (12.7) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0.6 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | (1,263.6) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 65.9 | 0 | 1,218.2 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 80.3 | 42.9 | 0 | 6.5 | 0 | (8.0) | 108.9 | (74.1) |
| Investing Cash Flow | 0 | 61.0 | 39.6 | (30.9) | 0.8 | (46.9) | (16.3) | 84.0 | (86.8) |
| Financing Activities | |||||||||
| Net Debt Issuance | 0 | 9.9 | 0 | 0 | (5.5) | (74.2) | 0 | 143.5 | 0 |
| Stock Repurchased | 0 | 0 | 0 | (283.5) | (16.2) | (37.9) | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | (0.8) | (2.4) | (160.1) | 164.5 | 0 | 104.5 | 151.7 | 150 |
| Financing Cash Flow | 0 | 139.7 | 90.0 | (371.9) | 138.9 | (118.6) | 278.0 | 295.2 | 150 |
| Cash Position | |||||||||
| Net Change in Cash | (96.5) | 0.3 | (5.4) | (2,239.7) | 365.4 | (102.2) | (20.4) | 368.7 | 176.5 |
| Cash at Beginning | 96.5 | 96.2 | 101.6 | 2,936.9 | 62.2 | 497.2 | 545.2 | 176.5 | 0 |
| Cash at End | 0 | 96.5 | 96.2 | 697.1 | 427.6 | 394.9 | 524.8 | 545.2 | 176.5 |
| Free Cash Flow | 0 | (218.6) | (126.9) | (1,823.3) | 196.2 | 50.7 | (288.4) | (37.7) | 78.5 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 529.7 | 269.3 | 211.5 | 651.5 | 771.1 | 68.6 | 1,422.6 | 2,705.3 | 1,308.1 |
| Gross Profit | 41.2 | (84.3) | (240.8) | 230.3 | 440.8 | 5.8 | (516.0) | 508.1 | 604.4 |
| Operating Income | (112.2) | (227.1) | (410.9) | 42.9 | 282.4 | (38.9) | (1,053.3) | 243.3 | 397.4 |
| Net Income | (210.3) | (249.8) | (414.2) | 69.9 | 308.4 | (33.0) | (1,034.5) | 122.4 | 375.8 |
| EPS (Diluted) | -0.45 | -0.92 | -2.40 | 0.41 | 1.80 | -0.20 | -1.04 | 0.13 | 0.44 |
| Balance Sheet | |||||||||
| Cash & Equivalents | 80.8 | 96.5 | 96.2 | 102.3 | 421.7 | 59.9 | 516.6 | 258.9 | 176.5 |
| Total Assets | 602.9 | 463.0 | 493.3 | 690.0 | 884.7 | 158.8 | 991.4 | 1,402.7 | 1,203.2 |
| Total Debt | 54.9 | 95.0 | 1.4 | 3.8 | 4.9 | 9.9 | 13,420.5 | 1,049.0 | 0 |
| Stockholders' Equity | 437.4 | 266.3 | 348.2 | 607.7 | 543.3 | 66.3 | 692.8 | 241.0 | 857.2 |
| Cash Flow | |||||||||
| Operating Cash Flow | 0 | (199.3) | (123.6) | (1,726.5) | 201.9 | 52.8 | (280.1) | (12.7) | 91.2 |
| Capital Expenditure | 0 | (19.3) | (3.3) | (96.8) | (5.6) | (2.1) | (8.4) | (24.9) | (12.7) |
| Free Cash Flow | 0 | (218.6) | (126.9) | (1,823.3) | 196.2 | 50.7 | (288.4) | (37.7) | 78.5 |