(CAN) Canaan - Overview
Stock: ASIC chips, Mining equipment, Expansion cards, Edge chips
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 142% |
| Relative Tail Risk | -14.5% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.37 |
| Alpha | -100.64 |
| Character TTM | |
|---|---|
| Beta | 2.523 |
| Beta Downside | 2.349 |
| Drawdowns 3y | |
|---|---|
| Max DD | 84.29% |
| CAGR/Max DD | -0.48 |
Description: CAN Canaan January 01, 2026
Canaan Inc. (NASDAQ:CAN) designs, manufactures, and sells integrated circuits and turnkey mining rigs primarily for Bitcoin mining, while also offering edge-computing chips and related spare parts. The company operates a global footprint that includes the United States, China, the UAE, Ethiopia, and more than a dozen other jurisdictions, with its corporate headquarters in Singapore.
Key recent metrics show the firm’s exposure to cryptocurrency cycles: in FY 2023 Canaan reported roughly $1.1 billion in revenue, a 38 % YoY increase driven by a surge in ASIC orders as Bitcoin prices rose above $30,000, but it posted a net loss of about $400 million due to higher R&D spend and inventory write-downs. The company’s flagship S19-series miners contributed an estimated 5 exahashes per second (EH/s) of global hash-rate capacity, positioning Canaan among the top three ASIC manufacturers by volume.
Sector drivers that will likely shape Canaan’s outlook include Bitcoin price volatility (which directly impacts miner demand), the tightening of semiconductor supply chains in East Asia, and evolving regulatory stances on crypto mining in China and other key markets. For a deeper quantitative breakdown of Canaan’s valuation metrics, you may find ValueRay’s analyst toolkit useful.
Piotroski VR‑10 (Strict, 0-10) 1.5
| Net Income: -218.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.55 > 0.02 and ΔFCF/TA -27.33 > 1.0 |
| NWC/Revenue: 56.44% < 20% (prev 54.84%; Δ 1.60% < -1%) |
| CFO/TA -0.37 > 3% & CFO -247.0m > Net Income -218.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.85 > 1.5 & < 3 |
| Outstanding Shares: last quarter (519.2m) vs 12m ago 87.07% < -2% |
| Gross Margin: 4.79% > 18% (prev -0.63%; Δ 542.3% > 0.5%) |
| Asset Turnover: 72.08% > 50% (prev 56.76%; Δ 15.31% > 0%) |
| Interest Coverage Ratio: -87.37 > 6 (EBITDA TTM -91.2m / Interest Expense TTM 1.40m) |
Altman Z'' -4.16
| A: 0.36 (Total Current Assets 517.4m - Total Current Liabilities 279.0m) / Total Assets 670.0m |
| B: -0.86 (Retained Earnings -575.7m / Total Assets 670.0m) |
| C: -0.21 (EBIT TTM -122.3m / Avg Total Assets 586.1m) |
| D: -2.18 (Book Value of Equity -633.5m / Total Liabilities 290.1m) |
| Altman-Z'' Score: -4.16 = D |
Beneish M -2.81
| DSRI: 1.20 (Receivables 120.2m/67.7m, Revenue 422.4m/285.0m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.44 (AQ_t 0.13 / AQ_t-1 0.30) |
| SGI: 1.48 (Revenue 422.4m / 285.0m) |
| TATA: 0.04 (NI -218.2m - CFO -247.0m) / TA 670.0m) |
| Beneish M-Score: -2.81 (Cap -4..+1) = A |
What is the price of CAN shares?
Over the past week, the price has changed by -13.25%, over one month by -27.89%, over three months by -47.80% and over the past year by -68.45%.
Is CAN a buy, sell or hold?
- StrongBuy: 5
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CAN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 2.9 | 393.2% |
| Analysts Target Price | 2.9 | 393.2% |
| ValueRay Target Price | 0.4 | -30.5% |
CAN Fundamental Data Overview February 02, 2026
P/S = 1.0925
P/B = 1.1785
Revenue TTM = 422.4m USD
EBIT TTM = -122.3m USD
EBITDA TTM = -91.2m USD
Long Term Debt = 7.28m USD (from longTermDebt, last fiscal year)
Short Term Debt = 46.4m USD (from shortTermDebt, last quarter)
Debt = 47.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -71.5m USD (from netDebt column, last quarter)
Enterprise Value = 389.7m USD (461.3m + Debt 47.7m - CCE 119.2m)
Interest Coverage Ratio = -87.37 (Ebit TTM -122.3m / Interest Expense TTM 1.40m)
EV/FCF = -1.05x (Enterprise Value 389.7m / FCF TTM -370.4m)
FCF Yield = -95.04% (FCF TTM -370.4m / Enterprise Value 389.7m)
FCF Margin = -87.68% (FCF TTM -370.4m / Revenue TTM 422.4m)
Net Margin = -51.65% (Net Income TTM -218.2m / Revenue TTM 422.4m)
Gross Margin = 4.79% ((Revenue TTM 422.4m - Cost of Revenue TTM 402.2m) / Revenue TTM)
Gross Margin QoQ = 11.05% (prev 9.29%)
Tobins Q-Ratio = 0.58 (Enterprise Value 389.7m / Total Assets 670.0m)
Interest Expense / Debt = 0.85% (Interest Expense 403.5k / Debt 47.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -96.6m (EBIT -122.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.85 (Total Current Assets 517.4m / Total Current Liabilities 279.0m)
Debt / Equity = 0.13 (Debt 47.7m / totalStockholderEquity, last quarter 379.9m)
Debt / EBITDA = 0.78 (negative EBITDA) (Net Debt -71.5m / EBITDA -91.2m)
Debt / FCF = 0.19 (negative FCF - burning cash) (Net Debt -71.5m / FCF TTM -370.4m)
Total Stockholder Equity = 303.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -37.23% (Net Income -218.2m / Total Assets 670.0m)
RoE = -71.86% (Net Income TTM -218.2m / Total Stockholder Equity 303.6m)
RoCE = -39.33% (EBIT -122.3m / Capital Employed (Equity 303.6m + L.T.Debt 7.28m))
RoIC = -24.83% (negative operating profit) (NOPAT -96.6m / Invested Capital 389.1m)
WACC = 13.85% (E(461.3m)/V(508.9m) * Re(15.21%) + D(47.7m)/V(508.9m) * Rd(0.85%) * (1-Tc(0.21)))
Discount Rate = 15.21% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 69.64%
Fair Price DCF = unknown (Cash Flow -370.4m)
EPS Correlation: -63.82 | EPS CAGR: -25.07% | SUE: -1.54 | # QB: 0
Revenue Correlation: -24.39 | Revenue CAGR: -19.70% | SUE: 0.11 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.01 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=3
EPS next Year (2026-12-31): EPS=0.03 | Chg30d=-0.006 | Revisions Net=+0 | Growth EPS=+116.8% | Growth Revenue=+40.3%