Canaan Inc. (CAN) 10-Year Financial Performance & Capital Metrics

CAN • • Industrial / General

TechnologyComputer HardwareCryptocurrency Mining HardwareBitcoin Mining Equipment

AboutCanaan, Inc. is a holding company, which engages in developing and selling Bitcoin mining machines and related services. It focuses on the development of green mining. The company was founded by Jia Xuan Li, Xiang Fu Liu and Nan Geng Zhang on January 19, 2013 and is headquartered in Singapore.Show more

Revenue $269M +27.4%
EBITDA -$199M +43.4%
Net Income -$250M +39.7%
EPS (Diluted) -0.92 +61.7%
Gross Margin -31.31% +72.5%
EBITDA Margin -73.78% +55.6%
Operating Margin -84.33% +56.6%
Net Margin -92.73% +52.6%
ROE -81.29% +5.7%
ROIC -65.74% +18.2%
Debt/Equity 0.36 +8609.9%
Interest Coverage -435.95

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.8x book value

✗Weaknesses

✗Negative free cash flow
✗Sales declining 28.3% over 5 years
✗Shares diluted 57.9% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-28.31%

3Y-29.58%

TTM82.48%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM11.71%

EPS CAGR

10Y-

5Y-

3Y-

TTM42.77%

ROCE

10Y Avg-24.91%

5Y Avg-13.51%

3Y Avg-49.28%

Latest-70.7%

Peer Comparison

Bitcoin Mining Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BGINBGIN BLOCKCHAIN Ltd	297.11M	3.28	5.66	17.5%	21.81%	36.73%	0.00
CANCanaan Inc.	539.21M	0.82	-0.89	27.35%	-77.01%	-82.19%	0.36
EBONEbang International Holdings Inc.	16.31M	3.45	-1.07	20.88%	-5.26%	-21.11%	0.02

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.31B	2.71B	1.42B	68.58M	771.14M	651.53M	211.48M	269.32M
Revenue Growth %	-	1.07%	-0.47%	-0.95%	10.24%	-0.16%	-0.68%	0.27%
Cost of Goods Sold+	703.7M	2.2B	1.94B	62.8M	330.31M	424.34M	452.26M	353.64M
COGS % of Revenue	0.54%	0.81%	1.36%	0.92%	0.43%	0.65%	2.14%	1.31%
Gross Profit+	604.38M	508.12M	-516M	5.79M	440.83M	230.29M	-240.78M	-84.32M
Gross Margin %	0.46%	0.19%	-0.36%	0.08%	0.57%	0.35%	-1.14%	-0.31%
Gross Profit Growth %	-	-0.16%	-2.02%	1.01%	75.2%	-0.48%	-2.05%	0.65%
Operating Expenses+	209.26M	262.2M	505.38M	44.64M	158.78M	187.35M	170.1M	142.81M
OpEx % of Revenue	0.16%	0.1%	0.36%	0.65%	0.21%	0.29%	0.8%	0.53%
Selling, General & Admin	145.99M	185.41M	369.55M	23.22M	106.39M	97.72M	79.42M	77.4M
SG&A % of Revenue	0.11%	0.07%	0.26%	0.34%	0.14%	0.15%	0.38%	0.29%
Research & Development	99.77M	189.68M	168.98M	21.45M	52.06M	82.36M	64.84M	61.32M
R&D % of Revenue	0.08%	0.07%	0.12%	0.31%	0.07%	0.13%	0.31%	0.23%
Other Operating Expenses	0	0	-33.16M	-37.33K	333.41K	7.28M	25.83M	4.09M
Operating Income+	397.44M	243.25M	-1.05B	-38.89M	282.38M	42.94M	-410.88M	-227.13M
Operating Margin %	0.3%	0.09%	-0.74%	-0.57%	0.37%	0.07%	-1.94%	-0.84%
Operating Income Growth %	-	-0.39%	-5.33%	0.96%	8.26%	-0.85%	-10.57%	0.45%
EBITDA+	406.52M	256.4M	-1.02B	-34.11M	284.56M	76.87M	-351.24M	-198.71M
EBITDA Margin %	0.31%	0.09%	-0.72%	-0.5%	0.37%	0.12%	-1.66%	-0.74%
EBITDA Growth %	-	-0.37%	-4.97%	0.97%	9.34%	-0.73%	-5.57%	0.43%
D&A (Non-Cash Add-back)	9.08M	13.14M	34.16M	4.79M	2.18M	33.94M	59.64M	28.42M
EBIT	61.42M	36.82M	-144.99M	-38.89M	282.97M	42.94M	-389.75M	-171.75M
Net Interest Income+	37.22K	-7.1M	-2.31M	783.8K	1.13M	2.37M	956K	15K
Interest Income	5.84M	615.5K	550.68K	1.3M	1.13M	2.37M	956K	536K
Interest Expense	0	7.71M	2.86M	519.69K	0	0	0	521K
Other Income/Expense	345.85M	9.77M	904.71M	5.94M	34.45M	45.4M	-54.61M	54.86M
Pretax Income+	400.97M	200.24M	-1.03B	-32.95M	316.83M	88.33M	-465.49M	-172.27M
Pretax Margin %	0.31%	0.07%	-0.73%	-0.48%	0.41%	0.14%	-2.2%	-0.64%
Income Tax+	25.15M	77.81M	0	0	7.75M	18.45M	-51.34M	77.48M
Effective Tax Rate %	0.94%	0.61%	1%	1%	0.97%	0.79%	0.89%	1.45%
Net Income+	375.82M	122.43M	-1.03B	-32.95M	308.44M	69.88M	-414.15M	-249.75M
Net Margin %	0.29%	0.05%	-0.73%	-0.48%	0.4%	0.11%	-1.96%	-0.93%
Net Income Growth %	-	-0.67%	-9.45%	0.97%	10.36%	-0.77%	-6.93%	0.4%
Net Income (Continuing)	57.56M	17.8M	-147.85M	-32.95M	309.09M	69.88M	-414.15M	-249.75M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.44	0.13	-1.04	-0.20	1.80	0.41	-2.40	-0.92
EPS Growth %	-	-0.7%	-9%	0.81%	10%	-0.77%	-6.85%	0.62%
EPS (Basic)	0.44	0.14	-1.04	-0.20	1.80	0.41	-2.40	-0.92
Diluted Shares Outstanding	131.44M	131.88M	143.54M	156.38M	171.74M	171.86M	171.95M	271.49M
Basic Shares Outstanding	131.45M	131.86M	143.53M	156.38M	171.71M	171.92M	171.92M	271.49M
Dividend Payout Ratio	-	5.65%	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.18B	1.37B	940.81M	154.29M	828.38M	559.8M	363.68M	334.02M
Cash & Short-Term Investments	266.5M	258.94M	527.61M	69.5M	421.67M	105.65M	96.15M	96.49M
Cash Only	176.5M	258.94M	516.61M	59.94M	421.67M	102.3M	96.15M	96.49M
Short-Term Investments	90M	0	11.01M	9.56M	0	3.35M	0	0
Accounts Receivable	1.31M	23.69M	2.87M	15.39M	57.77K	72.4M	58.4M	114.66M
Days Sales Outstanding	0.36	3.2	0.74	81.88	0.03	40.56	100.8	155.39
Inventory	259.85M	585.67M	196.07M	34.55M	127.61M	213.2M	142.29M	94.62M
Days Inventory Outstanding	134.78	97.29	36.91	200.81	141.01	183.38	114.83	97.66
Other Current Assets	651.91M	500.13M	1.02B	503.03K	-766K	168.55M	16.82M	7.26M
Total Non-Current Assets+	23.66M	34.27M	50.62M	4.47M	56.36M	130.2M	129.62M	128.99M
Property, Plant & Equipment	18.4M	27.93M	45.37M	4.08M	34.01M	90.26M	31.16M	43.66M
Fixed Asset Turnover	71.08x	96.87x	31.36x	16.82x	22.68x	7.22x	6.79x	6.17x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	7.55M	901K
Long-Term Investments	0	0	0	3.83K	3.14M	2.89M	2.82M	2.78M
Other Non-Current Assets	5.26M	6.34M	5.25M	387.57K	19.21M	37.05M	21.28M	81.35M
Total Assets+	1.2B	1.4B	991.43M	158.76M	884.74M	690M	493.3M	463.01M
Asset Turnover	1.09x	1.93x	1.43x	0.43x	0.87x	0.94x	0.43x	0.58x
Asset Growth %	-	0.17%	-0.29%	-0.84%	4.57%	-0.22%	-0.29%	-0.06%
Total Current Liabilities+	345.98M	1.16B	285.23M	90.76M	327.54M	75.26M	135.19M	178.57M
Accounts Payable	7.75M	6.87M	14.16M	5.73M	22.5M	16.7M	6.25M	13.97M
Days Payables Outstanding	4.02	1.14	2.67	33.28	24.87	14.37	5.04	14.42
Short-Term Debt	0	152.49M	18.2M	7.46M	2.33M	0	0	84.77M
Deferred Revenue (Current)	0	0	0	0	0	662K	1000K	1000K
Other Current Liabilities	-10.29M	-3.77M	246.19M	63.38M	172.64M	-1.25M	84.96M	6M
Current Ratio	3.41x	1.18x	3.30x	1.70x	2.53x	7.44x	2.69x	1.87x
Quick Ratio	2.66x	0.67x	2.61x	1.32x	2.14x	4.61x	1.64x	1.34x
Cash Conversion Cycle	131.12	99.35	34.99	249.41	116.17	209.58	210.59	238.63
Total Non-Current Liabilities+	0	0	13.4M	1.74M	13.9M	2.04M	9.92M	18.19M
Long-Term Debt	0	0	13.4B	0	0	0	0	7.28M
Capital Lease Obligations	0	0	1.92M	508.9K	2.56M	1.44M	210K	1.7M
Deferred Tax Liabilities	0	0	0	0	0	0	0	153K
Other Non-Current Liabilities	0	0	-13.39B	1.23M	11.37M	598K	516K	0
Total Liabilities	345.98M	1.16B	298.63M	92.5M	341.44M	77.86M	145.11M	196.76M
Total Debt+	0	1.05B	13.42B	9.9M	4.88M	3.75M	1.43M	94.99M
Net Debt	-176.5M	790.07M	12.9B	-54.11M	-419.11M	-100.85M	-94.73M	-1.5M
Debt / Equity	-	4.35x	19.37x	0.15x	0.01x	0.01x	0.00x	0.36x
Debt / EBITDA	-	4.09x	-	-	0.02x	0.05x	-	-
Net Debt / EBITDA	-0.43x	3.08x	-	-	-1.47x	-1.31x	-	-
Interest Coverage	-	31.53x	-367.78x	-74.84x	-	-	-	-435.95x
Total Equity+	857.24M	240.98M	692.79M	66.26M	543.31M	612.13M	348.19M	266.25M
Equity Growth %	-	-0.72%	1.87%	-0.9%	7.2%	0.13%	-0.43%	-0.24%
Book Value per Share	6.52	1.83	4.83	0.42	3.16	3.56	2.02	0.98
Total Shareholders' Equity	857.24M	240.98M	692.79M	66.26M	543.31M	607.67M	348.19M	266.25M
Common Stock	1K	1K	1K	153	157	144	0	0
Retained Earnings	433.6M	151.24M	-883.27M	-182.83M	126.03M	194.52M	-219.63M	-450.49M
Treasury Stock	0	0	0	-3.66M	-36.41M	-57.05M	-57.05M	-57.05M
Accumulated OCI	-1K	-65.23M	-55.54M	2.68M	-16.01M	-22.02M	-28.99M	-42.56M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	91.2M	-12.74M	-280.06M	52.75M	201.86M	-1.73B	-123.62M	-199.26M
Operating CF Margin %	0.07%	-0%	-0.2%	0.77%	0.26%	-2.65%	-0.58%	-0.74%
Operating CF Growth %	-	-1.14%	-20.98%	1.19%	2.83%	-9.55%	0.93%	-0.61%
Net Income	375.82M	122.43M	-1.03B	-203.35M	308.44M	494.9M	-414.15M	-249.75M
Depreciation & Amortization	9.08M	13.14M	45.09M	23.9M	4.94M	246.37M	59.64M	28.42M
Stock-Based Compensation	95.53M	18.59M	270.24M	0	76.34M	0	42.07M	30.92M
Deferred Taxes	0	0	0	0	0	-53.29M	-45.69M	73.08M
Other Non-Cash Items	249.79M	-249.07M	595.17M	11.12M	104.26M	888.08M	218.39M	21.94M
Working Capital Changes	-639.02M	82.17M	-156.05M	221.08M	-292.11M	-3.3B	16.11M	-103.86M
Change in Receivables	11.48M	-20.23M	20.82M	-4.25M	1.06M	373.44K	-3.02M	97K
Change in Inventory	-123.93M	-325.82M	-157.33M	-46.18M	-115.91M	-1.59B	-123.95M	-129.27M
Change in Payables	0	0	0	-58.28M	0	-96.85M	-10.24M	7.22M
Cash from Investing+	-86.78M	83.98M	-16.33M	-46.87M	846.22K	-30.86M	39.63M	60.97M
Capital Expenditures	-12.66M	-24.91M	-8.38M	-2.06M	-5.63M	-96.8M	-3.31M	-19.3M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.03%	0.01%	0.15%	0.02%	0.07%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	-74.12M	108.89M	-7.95M	0	6.48M	0	42.94M	80.28M
Cash from Financing+	150M	295.2M	277.95M	-118.59M	138.93M	-371.93M	90M	139.75M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	150M	151.68M	104.49M	0	164.45M	-160.06M	-2.42M	-768K
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	78.54M	-37.65M	-288.44M	50.69M	196.23M	-1.82B	-126.93M	-218.57M
FCF Margin %	0.06%	-0.01%	-0.2%	0.74%	0.25%	-2.8%	-0.6%	-0.81%
FCF Growth %	-	-1.48%	-6.66%	1.18%	2.87%	-10.29%	0.93%	-0.72%
FCF per Share	0.60	-0.29	-2.01	0.32	1.14	-10.61	-0.74	-0.81
FCF Conversion (FCF/Net Income)	0.24x	-0.10x	0.27x	-1.60x	0.65x	-24.71x	0.30x	0.80x
Interest Paid	0	5.2M	1.66M	0	39K	0	0	370K
Taxes Paid	220.87K	18.48M	501.66K	0	68K	45.42M	2.88M	52K

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	43.84%	22.3%	-221.58%	-8.68%	101.2%	12.1%	-86.25%	-81.29%
Return on Invested Capital (ROIC)	43.79%	21.32%	-10.8%	-0.43%	296.75%	10.06%	-80.35%	-65.74%
Gross Margin	46.2%	18.78%	-36.27%	8.44%	57.17%	35.35%	-113.86%	-31.31%
Net Margin	28.73%	4.53%	-72.72%	-48.05%	40%	10.73%	-195.84%	-92.73%
Debt / Equity	-	4.35x	19.37x	0.15x	0.01x	0.01x	0.00x	0.36x
Interest Coverage	-	31.53x	-367.78x	-74.84x	-	-	-	-435.95x
FCF Conversion	0.24x	-0.10x	0.27x	-1.60x	0.65x	-24.71x	0.30x	0.80x
Revenue Growth	-	106.81%	-47.41%	-95.18%	1024.42%	-15.51%	-67.54%	27.35%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product	1.39B	427.52M	-	4.16B	176.9M	223.23M
Product Growth	-	-69.31%	-	-	-95.75%	26.19%
Mining	-	-	-	-	33.96M	44.02M
Mining Growth	-	-	-	-	-	29.64%
Service	2.67M	300K	224K	-	-	-
Service Growth	-	-88.76%	-25.33%	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	46.05M	3.53M	312.72M	631.24M	28.1M	70.99M
UNITED STATES Growth	-	-92.34%	8764.00%	101.85%	-95.55%	152.61%
CHINA	1.06B	379.42M	-	122.77M	115.53M	68.17M
CHINA Growth	-	-64.33%	-	-	-5.90%	-41.00%
UNITED ARAB EMIRATES	-	-	-	-	-	41.45M
UNITED ARAB EMIRATES Growth	-	-	-	-	-	-
HONG KONG	11.22M	12.3M	87.97M	149.49M	-	13.28M
HONG KONG Growth	-	9.67%	615.15%	69.93%	-	-
MALAYSIA	-	-	-	802.06M	15.33M	10.1M
MALAYSIA Growth	-	-	-	-	-98.09%	-34.11%
KAZAKHSTAN	-	47.79M	711.6M	386.77M	24.57M	7.75M
KAZAKHSTAN Growth	-	-	1388.94%	-45.65%	-93.65%	-68.47%
CANADA	22.74M	162K	402.49M	122.8M	259K	6.55M
CANADA Growth	-	-99.29%	248350.00%	-69.49%	-99.79%	2428.19%
NETHERLANDS	-	-	-	-	-	6.08M
NETHERLANDS Growth	-	-	-	-	-	-
SINGAPORE	-	-	-	-	-	5.25M
SINGAPORE Growth	-	-	-	-	-	-
Other Foreign Countries	42.79M	4.49M	256.16M	10.53M	23.68M	2.88M
Other Foreign Countries Growth	-	-89.52%	5611.55%	-95.89%	124.81%	-87.83%
GEORGIA, REPUBLIC OF	-	-	-	-	-	2.09M
GEORGIA, REPUBLIC OF Growth	-	-	-	-	-	-
PARAGUAY	-	-	-	-	-	1.44M
PARAGUAY Growth	-	-	-	-	-	-
THAILAND	-	-	289.01M	18.64M	3.7M	555K
THAILAND Growth	-	-	-	-93.55%	-80.15%	-85.00%
INDONESIA	-	-	-	1.45B	300K	147K
INDONESIA Growth	-	-	-	-	-99.98%	-51.00%
AUSTRALIA	-	-	361.38M	405.81M	9K	22K
AUSTRALIA Growth	-	-	-	12.29%	-100.00%	144.44%
CYPRUS	-	-	633.32M	243.5M	7K	1K
CYPRUS Growth	-	-	-	-61.55%	-100.00%	-85.71%
SWEDEN	-	-	152.13M	6.29M	-	-
SWEDEN Growth	-	-	-	-95.87%	-	-
JAPAN	236.21M	-	3K	-	-	-
JAPAN Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Canaan Inc. (CAN) reported $345.4M in revenue for fiscal year 2024. This represents a 74% decrease from $1.31B in 2017.

Canaan Inc. (CAN) grew revenue by 27.4% over the past year. This is strong growth.

Canaan Inc. (CAN) reported a net loss of $266.0M for fiscal year 2024.

Dividend & Returns

Canaan Inc. (CAN) has a return on equity (ROE) of -81.3%. Negative ROE indicates the company is unprofitable.

Canaan Inc. (CAN) had negative free cash flow of $386.5M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

Canaan Inc. (CAN) 10-Year Financial Performance & Capital Metrics

CAN • • Industrial / General

TechnologyComputer HardwareCryptocurrency Mining HardwareBitcoin Mining Equipment

Revenue $269M +27.4%
EBITDA -$199M +43.4%
Net Income -$250M +39.7%
EPS (Diluted) -0.92 +61.7%
Gross Margin -31.31% +72.5%
EBITDA Margin -73.78% +55.6%
Operating Margin -84.33% +56.6%
Net Margin -92.73% +52.6%
ROE -81.29% +5.7%
ROIC -65.74% +18.2%
Debt/Equity 0.36 +8609.9%
Interest Coverage -435.95

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.8x book value

✗Weaknesses

✗Negative free cash flow
✗Sales declining 28.3% over 5 years
✗Shares diluted 57.9% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-28.31%

3Y-29.58%

TTM82.48%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM11.71%

EPS CAGR

10Y-

5Y-

3Y-

TTM42.77%

ROCE

10Y Avg-24.91%

5Y Avg-13.51%

3Y Avg-49.28%

Latest-70.7%

Peer Comparison

Bitcoin Mining Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BGINBGIN BLOCKCHAIN Ltd	297.11M	3.28	5.66	17.5%	21.81%	36.73%	0.00
CANCanaan Inc.	539.21M	0.82	-0.89	27.35%	-77.01%	-82.19%	0.36
EBONEbang International Holdings Inc.	16.31M	3.45	-1.07	20.88%	-5.26%	-21.11%	0.02

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.31B	2.71B	1.42B	68.58M	771.14M	651.53M	211.48M	269.32M
Revenue Growth %	-	1.07%	-0.47%	-0.95%	10.24%	-0.16%	-0.68%	0.27%
Cost of Goods Sold+	703.7M	2.2B	1.94B	62.8M	330.31M	424.34M	452.26M	353.64M
COGS % of Revenue	0.54%	0.81%	1.36%	0.92%	0.43%	0.65%	2.14%	1.31%
Gross Profit+	604.38M	508.12M	-516M	5.79M	440.83M	230.29M	-240.78M	-84.32M
Gross Margin %	0.46%	0.19%	-0.36%	0.08%	0.57%	0.35%	-1.14%	-0.31%
Gross Profit Growth %	-	-0.16%	-2.02%	1.01%	75.2%	-0.48%	-2.05%	0.65%
Operating Expenses+	209.26M	262.2M	505.38M	44.64M	158.78M	187.35M	170.1M	142.81M
OpEx % of Revenue	0.16%	0.1%	0.36%	0.65%	0.21%	0.29%	0.8%	0.53%
Selling, General & Admin	145.99M	185.41M	369.55M	23.22M	106.39M	97.72M	79.42M	77.4M
SG&A % of Revenue	0.11%	0.07%	0.26%	0.34%	0.14%	0.15%	0.38%	0.29%
Research & Development	99.77M	189.68M	168.98M	21.45M	52.06M	82.36M	64.84M	61.32M
R&D % of Revenue	0.08%	0.07%	0.12%	0.31%	0.07%	0.13%	0.31%	0.23%
Other Operating Expenses	0	0	-33.16M	-37.33K	333.41K	7.28M	25.83M	4.09M
Operating Income+	397.44M	243.25M	-1.05B	-38.89M	282.38M	42.94M	-410.88M	-227.13M
Operating Margin %	0.3%	0.09%	-0.74%	-0.57%	0.37%	0.07%	-1.94%	-0.84%
Operating Income Growth %	-	-0.39%	-5.33%	0.96%	8.26%	-0.85%	-10.57%	0.45%
EBITDA+	406.52M	256.4M	-1.02B	-34.11M	284.56M	76.87M	-351.24M	-198.71M
EBITDA Margin %	0.31%	0.09%	-0.72%	-0.5%	0.37%	0.12%	-1.66%	-0.74%
EBITDA Growth %	-	-0.37%	-4.97%	0.97%	9.34%	-0.73%	-5.57%	0.43%
D&A (Non-Cash Add-back)	9.08M	13.14M	34.16M	4.79M	2.18M	33.94M	59.64M	28.42M
EBIT	61.42M	36.82M	-144.99M	-38.89M	282.97M	42.94M	-389.75M	-171.75M
Net Interest Income+	37.22K	-7.1M	-2.31M	783.8K	1.13M	2.37M	956K	15K
Interest Income	5.84M	615.5K	550.68K	1.3M	1.13M	2.37M	956K	536K
Interest Expense	0	7.71M	2.86M	519.69K	0	0	0	521K
Other Income/Expense	345.85M	9.77M	904.71M	5.94M	34.45M	45.4M	-54.61M	54.86M
Pretax Income+	400.97M	200.24M	-1.03B	-32.95M	316.83M	88.33M	-465.49M	-172.27M
Pretax Margin %	0.31%	0.07%	-0.73%	-0.48%	0.41%	0.14%	-2.2%	-0.64%
Income Tax+	25.15M	77.81M	0	0	7.75M	18.45M	-51.34M	77.48M
Effective Tax Rate %	0.94%	0.61%	1%	1%	0.97%	0.79%	0.89%	1.45%
Net Income+	375.82M	122.43M	-1.03B	-32.95M	308.44M	69.88M	-414.15M	-249.75M
Net Margin %	0.29%	0.05%	-0.73%	-0.48%	0.4%	0.11%	-1.96%	-0.93%
Net Income Growth %	-	-0.67%	-9.45%	0.97%	10.36%	-0.77%	-6.93%	0.4%
Net Income (Continuing)	57.56M	17.8M	-147.85M	-32.95M	309.09M	69.88M	-414.15M	-249.75M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.44	0.13	-1.04	-0.20	1.80	0.41	-2.40	-0.92
EPS Growth %	-	-0.7%	-9%	0.81%	10%	-0.77%	-6.85%	0.62%
EPS (Basic)	0.44	0.14	-1.04	-0.20	1.80	0.41	-2.40	-0.92
Diluted Shares Outstanding	131.44M	131.88M	143.54M	156.38M	171.74M	171.86M	171.95M	271.49M
Basic Shares Outstanding	131.45M	131.86M	143.53M	156.38M	171.71M	171.92M	171.92M	271.49M
Dividend Payout Ratio	-	5.65%	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.18B	1.37B	940.81M	154.29M	828.38M	559.8M	363.68M	334.02M
Cash & Short-Term Investments	266.5M	258.94M	527.61M	69.5M	421.67M	105.65M	96.15M	96.49M
Cash Only	176.5M	258.94M	516.61M	59.94M	421.67M	102.3M	96.15M	96.49M
Short-Term Investments	90M	0	11.01M	9.56M	0	3.35M	0	0
Accounts Receivable	1.31M	23.69M	2.87M	15.39M	57.77K	72.4M	58.4M	114.66M
Days Sales Outstanding	0.36	3.2	0.74	81.88	0.03	40.56	100.8	155.39
Inventory	259.85M	585.67M	196.07M	34.55M	127.61M	213.2M	142.29M	94.62M
Days Inventory Outstanding	134.78	97.29	36.91	200.81	141.01	183.38	114.83	97.66
Other Current Assets	651.91M	500.13M	1.02B	503.03K	-766K	168.55M	16.82M	7.26M
Total Non-Current Assets+	23.66M	34.27M	50.62M	4.47M	56.36M	130.2M	129.62M	128.99M
Property, Plant & Equipment	18.4M	27.93M	45.37M	4.08M	34.01M	90.26M	31.16M	43.66M
Fixed Asset Turnover	71.08x	96.87x	31.36x	16.82x	22.68x	7.22x	6.79x	6.17x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	7.55M	901K
Long-Term Investments	0	0	0	3.83K	3.14M	2.89M	2.82M	2.78M
Other Non-Current Assets	5.26M	6.34M	5.25M	387.57K	19.21M	37.05M	21.28M	81.35M
Total Assets+	1.2B	1.4B	991.43M	158.76M	884.74M	690M	493.3M	463.01M
Asset Turnover	1.09x	1.93x	1.43x	0.43x	0.87x	0.94x	0.43x	0.58x
Asset Growth %	-	0.17%	-0.29%	-0.84%	4.57%	-0.22%	-0.29%	-0.06%
Total Current Liabilities+	345.98M	1.16B	285.23M	90.76M	327.54M	75.26M	135.19M	178.57M
Accounts Payable	7.75M	6.87M	14.16M	5.73M	22.5M	16.7M	6.25M	13.97M
Days Payables Outstanding	4.02	1.14	2.67	33.28	24.87	14.37	5.04	14.42
Short-Term Debt	0	152.49M	18.2M	7.46M	2.33M	0	0	84.77M
Deferred Revenue (Current)	0	0	0	0	0	662K	1000K	1000K
Other Current Liabilities	-10.29M	-3.77M	246.19M	63.38M	172.64M	-1.25M	84.96M	6M
Current Ratio	3.41x	1.18x	3.30x	1.70x	2.53x	7.44x	2.69x	1.87x
Quick Ratio	2.66x	0.67x	2.61x	1.32x	2.14x	4.61x	1.64x	1.34x
Cash Conversion Cycle	131.12	99.35	34.99	249.41	116.17	209.58	210.59	238.63
Total Non-Current Liabilities+	0	0	13.4M	1.74M	13.9M	2.04M	9.92M	18.19M
Long-Term Debt	0	0	13.4B	0	0	0	0	7.28M
Capital Lease Obligations	0	0	1.92M	508.9K	2.56M	1.44M	210K	1.7M
Deferred Tax Liabilities	0	0	0	0	0	0	0	153K
Other Non-Current Liabilities	0	0	-13.39B	1.23M	11.37M	598K	516K	0
Total Liabilities	345.98M	1.16B	298.63M	92.5M	341.44M	77.86M	145.11M	196.76M
Total Debt+	0	1.05B	13.42B	9.9M	4.88M	3.75M	1.43M	94.99M
Net Debt	-176.5M	790.07M	12.9B	-54.11M	-419.11M	-100.85M	-94.73M	-1.5M
Debt / Equity	-	4.35x	19.37x	0.15x	0.01x	0.01x	0.00x	0.36x
Debt / EBITDA	-	4.09x	-	-	0.02x	0.05x	-	-
Net Debt / EBITDA	-0.43x	3.08x	-	-	-1.47x	-1.31x	-	-
Interest Coverage	-	31.53x	-367.78x	-74.84x	-	-	-	-435.95x
Total Equity+	857.24M	240.98M	692.79M	66.26M	543.31M	612.13M	348.19M	266.25M
Equity Growth %	-	-0.72%	1.87%	-0.9%	7.2%	0.13%	-0.43%	-0.24%
Book Value per Share	6.52	1.83	4.83	0.42	3.16	3.56	2.02	0.98
Total Shareholders' Equity	857.24M	240.98M	692.79M	66.26M	543.31M	607.67M	348.19M	266.25M
Common Stock	1K	1K	1K	153	157	144	0	0
Retained Earnings	433.6M	151.24M	-883.27M	-182.83M	126.03M	194.52M	-219.63M	-450.49M
Treasury Stock	0	0	0	-3.66M	-36.41M	-57.05M	-57.05M	-57.05M
Accumulated OCI	-1K	-65.23M	-55.54M	2.68M	-16.01M	-22.02M	-28.99M	-42.56M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	91.2M	-12.74M	-280.06M	52.75M	201.86M	-1.73B	-123.62M	-199.26M
Operating CF Margin %	0.07%	-0%	-0.2%	0.77%	0.26%	-2.65%	-0.58%	-0.74%
Operating CF Growth %	-	-1.14%	-20.98%	1.19%	2.83%	-9.55%	0.93%	-0.61%
Net Income	375.82M	122.43M	-1.03B	-203.35M	308.44M	494.9M	-414.15M	-249.75M
Depreciation & Amortization	9.08M	13.14M	45.09M	23.9M	4.94M	246.37M	59.64M	28.42M
Stock-Based Compensation	95.53M	18.59M	270.24M	0	76.34M	0	42.07M	30.92M
Deferred Taxes	0	0	0	0	0	-53.29M	-45.69M	73.08M
Other Non-Cash Items	249.79M	-249.07M	595.17M	11.12M	104.26M	888.08M	218.39M	21.94M
Working Capital Changes	-639.02M	82.17M	-156.05M	221.08M	-292.11M	-3.3B	16.11M	-103.86M
Change in Receivables	11.48M	-20.23M	20.82M	-4.25M	1.06M	373.44K	-3.02M	97K
Change in Inventory	-123.93M	-325.82M	-157.33M	-46.18M	-115.91M	-1.59B	-123.95M	-129.27M
Change in Payables	0	0	0	-58.28M	0	-96.85M	-10.24M	7.22M
Cash from Investing+	-86.78M	83.98M	-16.33M	-46.87M	846.22K	-30.86M	39.63M	60.97M
Capital Expenditures	-12.66M	-24.91M	-8.38M	-2.06M	-5.63M	-96.8M	-3.31M	-19.3M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.03%	0.01%	0.15%	0.02%	0.07%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	-74.12M	108.89M	-7.95M	0	6.48M	0	42.94M	80.28M
Cash from Financing+	150M	295.2M	277.95M	-118.59M	138.93M	-371.93M	90M	139.75M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	150M	151.68M	104.49M	0	164.45M	-160.06M	-2.42M	-768K
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	78.54M	-37.65M	-288.44M	50.69M	196.23M	-1.82B	-126.93M	-218.57M
FCF Margin %	0.06%	-0.01%	-0.2%	0.74%	0.25%	-2.8%	-0.6%	-0.81%
FCF Growth %	-	-1.48%	-6.66%	1.18%	2.87%	-10.29%	0.93%	-0.72%
FCF per Share	0.60	-0.29	-2.01	0.32	1.14	-10.61	-0.74	-0.81
FCF Conversion (FCF/Net Income)	0.24x	-0.10x	0.27x	-1.60x	0.65x	-24.71x	0.30x	0.80x
Interest Paid	0	5.2M	1.66M	0	39K	0	0	370K
Taxes Paid	220.87K	18.48M	501.66K	0	68K	45.42M	2.88M	52K

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	43.84%	22.3%	-221.58%	-8.68%	101.2%	12.1%	-86.25%	-81.29%
Return on Invested Capital (ROIC)	43.79%	21.32%	-10.8%	-0.43%	296.75%	10.06%	-80.35%	-65.74%
Gross Margin	46.2%	18.78%	-36.27%	8.44%	57.17%	35.35%	-113.86%	-31.31%
Net Margin	28.73%	4.53%	-72.72%	-48.05%	40%	10.73%	-195.84%	-92.73%
Debt / Equity	-	4.35x	19.37x	0.15x	0.01x	0.01x	0.00x	0.36x
Interest Coverage	-	31.53x	-367.78x	-74.84x	-	-	-	-435.95x
FCF Conversion	0.24x	-0.10x	0.27x	-1.60x	0.65x	-24.71x	0.30x	0.80x
Revenue Growth	-	106.81%	-47.41%	-95.18%	1024.42%	-15.51%	-67.54%	27.35%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product	1.39B	427.52M	-	4.16B	176.9M	223.23M
Product Growth	-	-69.31%	-	-	-95.75%	26.19%
Mining	-	-	-	-	33.96M	44.02M
Mining Growth	-	-	-	-	-	29.64%
Service	2.67M	300K	224K	-	-	-
Service Growth	-	-88.76%	-25.33%	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	46.05M	3.53M	312.72M	631.24M	28.1M	70.99M
UNITED STATES Growth	-	-92.34%	8764.00%	101.85%	-95.55%	152.61%
CHINA	1.06B	379.42M	-	122.77M	115.53M	68.17M
CHINA Growth	-	-64.33%	-	-	-5.90%	-41.00%
UNITED ARAB EMIRATES	-	-	-	-	-	41.45M
UNITED ARAB EMIRATES Growth	-	-	-	-	-	-
HONG KONG	11.22M	12.3M	87.97M	149.49M	-	13.28M
HONG KONG Growth	-	9.67%	615.15%	69.93%	-	-
MALAYSIA	-	-	-	802.06M	15.33M	10.1M
MALAYSIA Growth	-	-	-	-	-98.09%	-34.11%
KAZAKHSTAN	-	47.79M	711.6M	386.77M	24.57M	7.75M
KAZAKHSTAN Growth	-	-	1388.94%	-45.65%	-93.65%	-68.47%
CANADA	22.74M	162K	402.49M	122.8M	259K	6.55M
CANADA Growth	-	-99.29%	248350.00%	-69.49%	-99.79%	2428.19%
NETHERLANDS	-	-	-	-	-	6.08M
NETHERLANDS Growth	-	-	-	-	-	-
SINGAPORE	-	-	-	-	-	5.25M
SINGAPORE Growth	-	-	-	-	-	-
Other Foreign Countries	42.79M	4.49M	256.16M	10.53M	23.68M	2.88M
Other Foreign Countries Growth	-	-89.52%	5611.55%	-95.89%	124.81%	-87.83%
GEORGIA, REPUBLIC OF	-	-	-	-	-	2.09M
GEORGIA, REPUBLIC OF Growth	-	-	-	-	-	-
PARAGUAY	-	-	-	-	-	1.44M
PARAGUAY Growth	-	-	-	-	-	-
THAILAND	-	-	289.01M	18.64M	3.7M	555K
THAILAND Growth	-	-	-	-93.55%	-80.15%	-85.00%
INDONESIA	-	-	-	1.45B	300K	147K
INDONESIA Growth	-	-	-	-	-99.98%	-51.00%
AUSTRALIA	-	-	361.38M	405.81M	9K	22K
AUSTRALIA Growth	-	-	-	12.29%	-100.00%	144.44%
CYPRUS	-	-	633.32M	243.5M	7K	1K
CYPRUS Growth	-	-	-	-61.55%	-100.00%	-85.71%
SWEDEN	-	-	152.13M	6.29M	-	-
SWEDEN Growth	-	-	-	-95.87%	-	-
JAPAN	236.21M	-	3K	-	-	-
JAPAN Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Canaan Inc. (CAN) reported $345.4M in revenue for fiscal year 2024. This represents a 74% decrease from $1.31B in 2017.

Canaan Inc. (CAN) grew revenue by 27.4% over the past year. This is strong growth.

Canaan Inc. (CAN) reported a net loss of $266.0M for fiscal year 2024.

Dividend & Returns

Canaan Inc. (CAN) has a return on equity (ROE) of -81.3%. Negative ROE indicates the company is unprofitable.

Canaan Inc. (CAN) had negative free cash flow of $386.5M in fiscal year 2024, likely due to heavy capital investments.