Canaan Inc. (CAN) Financial Ratios
9 years of historical data (2017–2025) · Technology · Computer Hardware
EV/EBITDA
↑
N/A
—
5yr avg: 2.46
30Y Low1.6·High3.3
P/FCF
N/A
—
5yr avg: 4.51
30Y Low4.5·High18.3
P/B Ratio
↓
0.59
↓-52% vs avg
5yr avg: 1.24
30Y Low0.6·High14.0
ROE
↓
-59.8%
↑-162% vs avg
5yr avg: -22.8%
30Y Low-222%·High101%
Debt/EBITDA
↑
N/A
—
5yr avg: 0.03
30Y Low0.0·High4.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CAN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Canaan Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $356M | $324M | $557M | $397M | $354M | $884M | $927M | $876M | — | — |
| Enterprise Value | $330M | $298M | $555M | $302M | $253M | $465M | $873M | $13.8B | — | — |
| P/E Ratio → | -1.23 | — | — | — | 5.02 | 2.86 | — | — | — | — |
| P/S Ratio | 0.67 | 0.61 | 2.07 | 1.88 | 0.54 | 1.15 | 13.52 | 0.62 | — | — |
| P/B Ratio | 0.59 | 0.74 | 2.09 | 1.14 | 0.58 | 1.63 | 13.99 | 1.26 | — | — |
| P/FCF | — | — | — | — | — | 4.51 | 18.29 | — | — | — |
| P/OCF | — | — | — | — | — | 4.38 | 17.58 | — | — | — |
P/E links to full P/E history page with 30-year chart
CAN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.56 | 2.06 | 1.43 | 0.39 | 0.60 | 12.73 | 9.69 | — | — |
| EV / EBITDA | — | — | — | — | 3.29 | 1.64 | — | — | — | — |
| EV / EBIT | — | — | — | — | 5.90 | 1.64 | — | — | — | — |
| EV / FCF | — | — | — | — | — | 2.37 | 17.23 | — | — | — |
CAN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Canaan Inc. earns an operating margin of -21.2%. Operating margins have expanded from -194.3% to -21.2% over the past 3 years, signaling improving operational efficiency. A negative ROE of -59.8% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.8% | 7.8% | -31.3% | -113.9% | 35.3% | 57.2% | 8.4% | -36.3% | 18.8% | 46.2% |
| Operating Margin | -21.2% | -21.2% | -84.3% | -194.3% | 6.6% | 36.6% | -56.7% | -74.0% | 9.0% | 30.4% |
| Net Profit Margin | -39.7% | -39.7% | -92.7% | -195.8% | 10.7% | 40.0% | -48.0% | -72.7% | 4.5% | 28.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -59.8% | -59.8% | -81.3% | -86.3% | 12.1% | 101.2% | -8.7% | -221.6% | 22.3% | 43.8% |
| ROA | -39.5% | -39.5% | -52.2% | -70.0% | 8.9% | 59.1% | -5.7% | -86.4% | 9.4% | 31.2% |
| ROIC | -24.9% | -24.9% | -65.7% | -80.3% | 10.1% | 296.8% | -0.4% | -10.8% | 21.3% | 43.8% |
| ROCE | -29.7% | -29.7% | -70.7% | -84.5% | 7.3% | 90.3% | -10.0% | -222.4% | 44.3% | 46.4% |
CAN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $81M exceeds total debt of $55M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.36 | 0.00 | 0.01 | 0.01 | 0.15 | 19.37 | 4.35 | — |
| Debt / EBITDA | — | — | — | — | 0.05 | 0.02 | — | — | 4.09 | — |
| Net Debt / Equity | — | -0.06 | -0.01 | -0.27 | -0.16 | -0.77 | -0.82 | 18.63 | 3.28 | -0.21 |
| Net Debt / EBITDA | — | — | — | — | -1.31 | -1.47 | — | — | 3.08 | -0.43 |
| Debt / FCF | — | — | — | — | — | -2.14 | -1.07 | — | — | -2.25 |
| Interest Coverage | -56.93 | -56.93 | -435.95 | — | — | — | -74.84 | -367.78 | 31.53 | — |
Net cash position: cash ($81M) exceeds total debt ($55M)
CAN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Canaan Inc.'s current ratio of 3.31x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.93x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.69x to 3.31x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.31 | 3.31 | 1.87 | 2.69 | 7.44 | 2.53 | 1.70 | 3.30 | 1.18 | 3.41 |
| Quick Ratio | 1.93 | 1.93 | 1.34 | 1.64 | 4.61 | 2.14 | 1.32 | 2.61 | 0.67 | 2.66 |
| Cash Ratio | 0.62 | 0.62 | 0.54 | 0.71 | 1.40 | 1.29 | 0.77 | 1.85 | 0.22 | 0.77 |
| Asset Turnover | — | 0.88 | 0.58 | 0.43 | 0.94 | 0.87 | 0.43 | 1.43 | 1.93 | 1.09 |
| Inventory Turnover | 2.70 | 2.70 | 3.74 | 3.18 | 1.99 | 2.59 | 1.82 | 9.89 | 3.75 | 2.71 |
| Days Sales Outstanding | — | 13.29 | 155.39 | 100.80 | 40.56 | 0.03 | 81.88 | 0.74 | 3.20 | 0.36 |
CAN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Canaan Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | 565.3% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 19.9% | 35.0% | — | — | — | — |
| FCF Yield | — | — | — | — | — | 22.2% | 5.5% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 80.1% | 1.8% | 4.1% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 80.1% | 1.8% | 4.1% | 0.0% | — | — |
| Shares Outstanding | — | $469M | $271M | $172M | $172M | $172M | $156M | $144M | $132M | $131M |
Peer Comparison
Compare CAN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CANYou | $356M | -1.2 | — | — | 7.8% | -21.2% | -59.8% | -24.9% | — |
 MARA | $5B | -3.5 | — | — | -47.7% | -90.6% | -34.5% | -9.0% | — |
 RIOT | $9B | -12.1 | — | — | -15.6% | -61.8% | -22.1% | -8.7% | — |
 CLSK | $4B | 12.9 | 6.7 | — | 41.6% | 41.6% | 18.5% | 10.3% | 1.2 |
 CIFR | $9B | -10.2 | — | — | 28.4% | -150.7% | -108.3% | -11.7% | — |
 BTBT | $622M | 9.7 | 9.0 | — | 61.9% | 16.8% | 9.2% | 6.5% | 0.2 |
 HUT | $12B | -50.9 | — | — | -614.6% | -2104.6% | -16.9% | -13.8% | — |
 BITF | $1B | -16.6 | 37.6 | — | -16.8% | -55.8% | -12.0% | -17.1% | 0.7 |
 IREN | $20B | 156.4 | 104.1 | — | 68.3% | 3.5% | 6.0% | 0.7% | 4.9 |
 CORZ | $8B | -28.0 | — | — | 11.9% | -45.4% | — | — | — |
 NVDA | $5.0T | 42.4 | 37.9 | 52.2 | 71.1% | 60.4% | 101.5% | 81.8% | 0.1 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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Start ComparisonCAN — Frequently Asked Questions
Quick answers to the most common questions about buying CAN stock.
What is Canaan Inc.'s P/E ratio?
Canaan Inc.'s current P/E ratio is -1.2x. The historical average is 3.9x.
What is Canaan Inc.'s ROE?
Canaan Inc.'s return on equity (ROE) is -59.8%. The historical average is -30.9%.
Is CAN stock overvalued?
Based on historical data, Canaan Inc. is trading at a P/E of -1.2x. Compare with industry peers and growth rates for a complete picture.
What are Canaan Inc.'s profit margins?
Canaan Inc. has 7.8% gross margin and -21.2% operating margin.