(CAN) Canaan - Overview

Sector: Technology | Industry: Computer Hardware | Exchange: NASDAQ (USA) | Market Cap: 311m USD | Total Return: -31.6% in 12m

Mining Equipment, Integrated Circuits, Edge Computing, Bitcoin
Total Rating 11
Safety 26
Buy Signal -0.97
Computer Hardware
Industry Rotation: +11.3
Market Cap: 311M
Avg Turnover: 3.87M USD
ATR: 7.44%
Peers RS (IBD): 0.8
Risk 5d forecast
Volatility101%
Rel. Tail Risk-14.6%
Reward TTM
Sharpe Ratio0.31
Alpha-108.57
Character TTM
Beta2.791
Beta Downside3.154
Drawdowns 3y
Max DD87.90%
CAGR/Max DD-0.50
EPS (Earnings per Share) EPS (Earnings per Share) of CAN over the last years for every Quarter: "2021-03": 0.217, "2021-06": 0.4098, "2021-09": 0.4085, "2021-12": 1.0653, "2022-03": 2.56, "2022-06": 3.53, "2022-09": 0.14, "2022-12": -0.29, "2023-03": -0.43, "2023-06": -0.65, "2023-09": -0.47, "2023-12": -0.55, "2024-03": -0.1589, "2024-06": -0.01, "2024-09": -0.2723, "2024-12": -0.33, "2025-03": -1.051, "2025-06": -0.03, "2025-09": -0.36, "2025-12": -0.0864, "2026-03": 0,
EPS CAGR: -32.07%
EPS Trend: -34.0%
Last SUE: 0.05
Qual. Beats: 0
Revenue Revenue of CAN over the last years for every Quarter: 2021-03: 61.347179, 2021-06: 167.2709, 2021-09: 204.155815, 2021-12: 343.031933, 2022-03: 201.353504, 2022-06: 246.588038, 2022-09: 136.919633, 2022-12: 74.009782, 2023-03: 55.163872, 2023-06: 18.648335, 2023-09: 33.297705, 2023-12: 104.530159, 2024-03: 35.031567, 2024-06: 71.858, 2024-09: 73.608, 2024-12: 88.767, 2025-03: 82.776, 2025-06: 100.209, 2025-09: 150.674922, 2025-12: 196.274, 2026-03: null,
Rev. CAGR: -0.68%
Rev. Trend: 5.2%
Last SUE: 0.11
Qual. Beats: 0

Warnings

Share dilution 86.7% YoY - potential capital distress

Interest Coverage Ratio -69.6 is critical

Beneish M-Score 1.00 > -1.5 - likely earnings manipulation

Altman Z'' -6.39 < 1.0 - financial distress zone

Volatile

Tailwinds

No distinct edge detected

Description: CAN Canaan

Canaan Inc. designs and sells integrated circuits (ICs) and leases bitcoin mining equipment. The company also assembles and distributes mining hardware and edge computing chips. Bitcoin mining is an energy-intensive process that validates transactions on the Bitcoin blockchain.

Canaan operates globally, with a presence in over fifteen countries across North America, Asia, Europe, and Africa. The semiconductor industry, which produces ICs, is a foundational component of modern technology.

To deepen your understanding of Canaans market position and financial health, further research on platforms like ValueRay is recommended.

Headlines to Watch Out For
  • Bitcoin price volatility impacts mining equipment demand
  • Global semiconductor supply chain disruptions increase production costs
  • Regulatory changes in cryptocurrency mining affect sales
  • Competition in ASIC miner market pressures profit margins
Piotroski VR‑10 (Strict) 1.5
Net Income: -210.3m TTM > 0 and > 6% of Revenue
FCF/TA: -0.54 > 0.02 and ΔFCF/TA -22.68 > 1.0
NWC/Revenue: 57.03% < 20% (prev 57.73%; Δ -0.71% < -1%)
CFO/TA -0.36 > 3% & CFO -217.2m > Net Income -210.3m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 3.31 > 1.5 & < 3
Outstanding Shares: last quarter (634.5m) vs 12m ago 136.6% < -2%
Gross Margin: 7.77% > 18% (prev -0.31%; Δ 808.4% > 0.5%)
Asset Turnover: 99.43% > 50% (prev 58.16%; Δ 41.28% > 0%)
Interest Coverage Ratio: -69.63 > 6 (EBITDA TTM -91.7m / Interest Expense TTM 1.97m)
Altman Z'' -6.39
A: 0.50 (Total Current Assets 433.3m - Total Current Liabilities 131.1m) / Total Assets 602.9m
B: -1.07 (Retained Earnings -645.9m / Total Assets 602.9m)
C: -0.26 (EBIT TTM -137.2m / Avg Total Assets 532.9m)
D: -4.24 (Book Value of Equity -702.5m / Total Liabilities 165.5m)
Altman-Z'' Score: -6.39 = D
Beneish M 1.00
DSRI: 6.47 (Receivables 19.3m/1.51m, Revenue 529.9m/269.3m)
GMI: 1.00 (fallback, negative margins)
AQI: 1.10 (AQ_t 0.20 / AQ_t-1 0.18)
SGI: 1.97 (Revenue 529.9m / 269.3m)
TATA: 0.01 (NI -210.3m - CFO -217.2m) / TA 602.9m)
Beneish M-Score: 2.25 (Cap -4..+1) = D
What is the price of CAN shares? As of April 15, 2026, the stock is trading at USD 0.51 with a total of 14,562,047 shares traded.
Over the past week, the price has changed by +23.28%, over one month by +6.58%, over three months by -41.53% and over the past year by -31.61%.
Is CAN a buy, sell or hold? Canaan has received a consensus analysts rating of 4.83. Therefore, it is recommended to buy CAN.
  • StrongBuy: 5
  • Buy: 1
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the CAN price?
Analysts Target Price 2.1 302%
Canaan (CAN) - Fundamental Data Overview as of 12 April 2026
P/E Forward = 2.5119
P/S = 0.5869
P/B = 0.6664
Revenue TTM = 529.9m USD
EBIT TTM = -137.2m USD
EBITDA TTM = -91.7m USD
Long Term Debt = 24.7m USD (estimated: total debt 54.9m - short term 30.2m)
Short Term Debt = 30.2m USD (from shortTermDebt, last quarter)
Debt = 54.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -25.9m USD (from netDebt column, last quarter)
Enterprise Value = 285.0m USD (310.9m + Debt 54.9m - CCE 80.8m)
Interest Coverage Ratio = -69.63 (Ebit TTM -137.2m / Interest Expense TTM 1.97m)
EV/FCF = -0.87x (Enterprise Value 285.0m / FCF TTM -325.8m)
 FCF Yield = -114.3% (FCF TTM -325.8m / Enterprise Value 285.0m)
 FCF Margin = -61.47% (FCF TTM -325.8m / Revenue TTM 529.9m)
Net Margin = -39.68% (Net Income TTM -210.3m / Revenue TTM 529.9m)
Gross Margin = 7.77% ((Revenue TTM 529.9m - Cost of Revenue TTM 488.8m) / Revenue TTM)
Gross Margin QoQ = 7.43% (prev 11.05%)
Tobins Q-Ratio = 0.47 (Enterprise Value 285.0m / Total Assets 602.9m)
Interest Expense / Debt = 1.51% (Interest Expense 831k / Debt 54.9m)
Taxrate = 21.0% (US default 21%)
NOPAT = -108.4m (EBIT -137.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.31 (Total Current Assets 433.3m / Total Current Liabilities 131.1m)
Debt / Equity = 0.13 (Debt 54.9m / totalStockholderEquity, last quarter 437.4m)
 Debt / EBITDA = 0.28 (negative EBITDA) (Net Debt -25.9m / EBITDA -91.7m)
 Debt / FCF = 0.08 (negative FCF - burning cash) (Net Debt -25.9m / FCF TTM -325.8m)
 Total Stockholder Equity = 346.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -39.46% (Net Income -210.3m / Total Assets 602.9m)
RoE = -60.72% (Net Income TTM -210.3m / Total Stockholder Equity 346.4m)
RoCE = -36.97% (EBIT -137.2m / Capital Employed (Equity 346.4m + L.T.Debt 24.7m))
 RoIC = -25.68% (negative operating profit) (NOPAT -108.4m / Invested Capital 422.0m)
 WACC = 13.61% (E(310.9m)/V(365.8m) * Re(15.80%) + D(54.9m)/V(365.8m) * Rd(1.51%) * (1-Tc(0.21)))
Discount Rate = 15.80% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 65.13%
 [DCF] Fair Price = unknown (Cash Flow -325.8m)
 EPS Correlation: -33.99 | EPS CAGR: -32.07% | SUE: 0.05 | # QB: 0
Revenue Correlation: 5.21 | Revenue CAGR: -0.68% | SUE: 0.11 | # QB: 0
EPS next Quarter (2026-06-30): EPS=-0.04 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS current Year (2026-12-31): EPS=-0.15 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=-4 | Growth EPS=+66.7% | Growth Revenue=-11.2%
EPS next Year (2027-12-31): EPS=0.05 | Chg7d=+0.000 | Chg30d=+0.053 | Revisions Net=+0 | Growth EPS=+133.3% | Growth Revenue=+89.5%
External Resources
Dataroma Stockcircle