Overview Dividends

(CAN) Canaan - Ratings and Ratios

Exchange: NASDAQ • Country: Singapore • Currency: USD • Type: Common Stock • ISIN: US1347481020

Mining Chips, Mining Equipment, Edge Computing Chip, Spare Parts

CAN EPS (Earnings per Share)

EPS Growth (3Y CAGR): 11.92%
EPS Trend (3Y Correlation): -7.3%

CAN Revenue

Revenue Growth (3Y CAGR): -10.73%
Revenue Trend (3Y Correlation): 19.9%

Description: CAN Canaan October 28, 2025

Canaan Inc. (NASDAQ:CAN) designs, manufactures, and sells integrated-circuit (IC) solutions and turnkey Bitcoin mining equipment, primarily operating out of China while maintaining a global footprint that includes the United States, Singapore, Europe, and emerging markets such as Ethiopia and Kazakhstan. The firm also distributes edge-computing chips and provides leasing services for its mining hardware.

Key recent metrics (Q3 2024): revenue of $112 million, a 22 % YoY increase driven by a 35 % rise in shipped ASIC hash rate (≈ 1.9 EH/s), and an adjusted EBITDA margin of 13 %. The company reported cash on hand of $85 million, giving it sufficient liquidity to fund its next product cycle despite ongoing supply-chain constraints.

Sector drivers that materially affect Canaan’s outlook include Bitcoin’s price volatility (a 30 % price swing in the past six months has historically moved Canaan’s revenue by ± 15 %), global energy-cost trends (lower electricity rates in the U.S. Sun Belt and Central Asia boost miner profitability), and regulatory risk in China, where tighter crypto-mining policies can shift demand toward Canaan’s overseas sales channels.

For a deeper quantitative assessment, the ValueRay platform offers tools to model Canaan’s sensitivity to Bitcoin price movements and ASIC supply dynamics.

CAN Stock Overview

Market Cap in USD	886m
Sub-Industry	Semiconductors
IPO / Inception	2019-11-20

CAN Stock Ratings

Growth Rating	-57.2%
Fundamental	25.1%
Dividend Rating	1.0%
Return 12m vs S&P 500	1.54%
Analyst Rating	4.83 of 5

CAN Dividends

Currently no dividends paid

CAN Growth Ratios

Growth Correlation 3m	87%
Growth Correlation 12m	-53.9%
Growth Correlation 5y	-91.3%
CAGR 5y	-23.33%
CAGR/Max DD 3y (Calmar Ratio)	-0.27
CAGR/Mean DD 3y (Pain Ratio)	-0.42
Sharpe Ratio 12m	-0.89
Alpha	-44.67
Beta	3.489
Volatility	181.92%
Current Volume	51057.4k
Average Volume 20d	75554k
Stop Loss	1.3 (-9.1%)
Signal	-0.18

Piotroski VR‑10 (Strict, 0-10) 1.5

Net Income (-266.0m TTM) > 0 and > 6% of Revenue (6% = 20.7m TTM)

FCFTA -0.25 (>2.0%) and ΔFCFTA -10.19pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 53.29% (prev 89.56%; Δ -36.27pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.20 (>3.0%) and CFO -118.8m > Net Income -266.0m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 1.78 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (399.7m) change vs 12m ago 45.58% (target <= -2.0% for YES)

Gross Margin -5.19% (prev -92.87%; Δ 87.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 61.80% (prev 46.56%; Δ 15.23pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -124.9 (EBITDA TTM -123.3m / Interest Expense TTM 1.24m) >= 6 (WARN >= 3)

Altman Z'' -5.15

(A) 0.31 = (Total Current Assets 421.0m - Total Current Liabilities 236.9m) / Total Assets 592.2m

(B) -0.93 = Retained Earnings (Balance) -548.0m / Total Assets 592.2m

(D) -2.20 = Book Value of Equity -590.2m / Total Liabilities 268.6m

Total Rating: -5.15 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 25.10

1. Piotroski 1.50pt = -3.50

2. FCF Yield -17.27% = -5.0

3. FCF Margin -43.44% = -7.50

4. Debt/Equity 0.15 = 2.49

5. Debt/Ebitda 0.14 = 2.48

6. ROIC - WACC (= -63.34)% = -12.50

7. RoE -92.49% = -2.50

8. Rev. Trend 19.85% = 1.49

9. EPS Trend -7.28% = -0.36

What is the price of CAN shares?

As of November 03, 2025, the stock is trading at USD 1.43 with a total of 51,057,400 shares traded.
Over the past week, the price has changed by -24.34%, over one month by +62.13%, over three months by +107.13% and over the past year by +23.28%.

Is Canaan a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Canaan (NASDAQ:CAN) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 25.10 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CAN is around 1.12 USD . This means that CAN is currently overvalued and has a potential downside of -21.68%.

Is CAN a buy, sell or hold?

Canaan has received a consensus analysts rating of 4.83. Therefore, it is recommended to buy CAN.

Strong Buy: 5
Buy: 1
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the CAN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	3	108.4%
Analysts Target Price	3	108.4%
ValueRay Target Price	1.3	-6.3%

CAN Fundamental Data Overview October 27, 2025

Market Cap USD = 886.4m (886.4m USD * 1.0 USD.USD)
P/E Forward = 2.1519
P/S = 2.5666
P/B = 1.9131
Beta = 3.489
Revenue TTM = 345.4m USD
EBIT TTM = -155.3m USD
EBITDA TTM = -123.3m USD
Long Term Debt = 20.8m USD (from longTermDebt, last quarter)
Short Term Debt = 25.8m USD (from shortTermDebt, last quarter)
Debt = 48.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -17.7m USD (from netDebt column, last quarter)
Enterprise Value = 868.7m USD (886.4m + Debt 48.2m - CCE 65.9m)
Interest Coverage Ratio = -124.9 (Ebit TTM -155.3m / Interest Expense TTM 1.24m)
FCF Yield = -17.27% (FCF TTM -150.0m / Enterprise Value 868.7m)
FCF Margin = -43.44% (FCF TTM -150.0m / Revenue TTM 345.4m)
Net Margin = -77.01% (Net Income TTM -266.0m / Revenue TTM 345.4m)
Gross Margin = -5.19% ((Revenue TTM 345.4m - Cost of Revenue TTM 363.3m) / Revenue TTM)
Gross Margin QoQ = 9.29% (prev 0.78%)
Tobins Q-Ratio = 1.47 (Enterprise Value 868.7m / Total Assets 592.2m)
Interest Expense / Debt = 0.80% (Interest Expense 385.0k / Debt 48.2m)
Taxrate = -7.52% (negative due to tax credits) (773.0k / -10.3m)
NOPAT = -167.0m (EBIT -155.3m * (1 - -7.52%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 1.78 (Total Current Assets 421.0m / Total Current Liabilities 236.9m)
Debt / Equity = 0.15 (Debt 48.2m / totalStockholderEquity, last quarter 323.6m)
Debt / EBITDA = 0.14 (negative EBITDA) (Net Debt -17.7m / EBITDA -123.3m)
Debt / FCF = 0.12 (negative FCF - burning cash) (Net Debt -17.7m / FCF TTM -150.0m)
Total Stockholder Equity = 287.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -44.91% (Net Income -266.0m / Total Assets 592.2m)
RoE = -92.49% (Net Income TTM -266.0m / Total Stockholder Equity 287.6m)
RoCE = -50.37% (EBIT -155.3m / Capital Employed (Equity 287.6m + L.T.Debt 20.8m))
RoIC = -45.39% (negative operating profit) (NOPAT -167.0m / Invested Capital 367.9m)
WACC = 17.94% (E(886.4m)/V(934.6m) * Re(18.87%) + D(48.2m)/V(934.6m) * Rd(0.80%) * (1-Tc(-0.08)))
Discount Rate = 18.87% (= CAPM, Blume Beta Adj.) -> capped to 17.95%
Shares Correlation 3-Years: 100.0 | Cagr: 48.84%
Fair Price DCF = unknown (Cash Flow -150.0m)
EPS Correlation: -7.28 | EPS CAGR: 11.92% | SUE: 0.02 | # QB: 0
Revenue Correlation: 19.85 | Revenue CAGR: -10.73% | SUE: 0.03 | # QB: 0

Additional Sources for CAN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle