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Canaan Inc.

CAN Clue Score37
Singapore Fiscal year ends December CIK 0001780652
$0.30 +1.76% Close, 9 Oct 2026
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Price $0.30 −95.54% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 20 Nov 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Fiscal year 2018Fiscal year 2019Revenue204.3Net income−148.6EPS, diluted−6.90Fiscal year 2020Revenue68.6 −66.4%Operating income−38.9Net income−33.0EPS, diluted−1.41Fiscal year 2021Revenue772.8 +1,026.3%Operating income283.0Net income309.1EPS, diluted12.00Fiscal year 2022Revenue651.5 −15.7%Operating income42.9Net income69.9 −77.4%EPS, diluted2.71Fiscal year 2023Revenue211.5 −67.5%Operating income−410.9Net income−414.2 −692.6%EPS, diluted−16.06Fiscal year 2024Revenue269.3 +27.4%Operating income−227.1Net income−249.8EPS, diluted−6.13Fiscal year 2025Revenue529.7 +96.7%Operating income−112.2Net income−210.3EPS, diluted−2.99
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a 204.3 68.6 772.8 651.5 211.5 269.3 529.7
Growth −66.4% +1,026.3% −15.7% −67.5% +27.4% +96.7%
Operating income n/a n/a n/a −38.9 283.0 42.9 −410.9 −227.1 −112.2
Net income n/a n/a −148.6 −33.0 309.1 69.9 −414.2 −249.8 −210.3
Growth −77.4% −692.6%
EPS, diluted n/a n/a −6.90 −1.41 12.00 2.71 −16.06 −6.13 −2.99

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Fiscal year 2018Fiscal year 2019Gross margin−36.3%Net margin−72.7%Free cash flow margin−20.3%Fiscal year 2020Gross margin8.4%Operating margin−56.7%Net margin−48.0%Free cash flow margin9.0%Fiscal year 2021Gross margin57.2%Operating margin36.6%Net margin40.0%Free cash flow margin25.4%Fiscal year 2022Gross margin35.3%Operating margin6.6%Net margin10.7%Free cash flow margin−30.8%Fiscal year 2023Gross margin−113.9%Operating margin−194.3%Net margin−195.8%Free cash flow margin−60.0%Fiscal year 2024Gross margin−31.3%Operating margin−84.3%Net margin−92.7%Free cash flow margin−81.2%Fiscal year 2025Gross margin7.8%Operating margin−21.2%Net margin−39.7%Free cash flow margin−55.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a −36.3% 8.4% 57.2% 35.3% −113.9% −31.3% 7.8%
Operating margin n/a n/a n/a −56.7% 36.6% 6.6% −194.3% −84.3% −21.2%
Net margin n/a n/a −72.7% −48.0% 40.0% 10.7% −195.8% −92.7% −39.7%
Free cash flow margin n/a n/a −20.3% 9.0% 25.4% −30.8% −60.0% −81.2% −55.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Fiscal year 2018Fiscal year 2019Operating cash flow−40.2Capital expenditure−1.2Free cash flow−41.4Fiscal year 2020Operating cash flow6.5Capital expenditure−0.3Free cash flow6.1Buybacks−3.7Fiscal year 2021Operating cash flow202.3Capital expenditure−5.6Free cash flow196.6 +3,098.4%Buybacks−16.1Fiscal year 2022Operating cash flow−182.6Capital expenditure−17.7Free cash flow−200.3 −201.9%Buybacks−37.4Fiscal year 2023Operating cash flow−123.6Capital expenditure−3.3Free cash flow−126.9Fiscal year 2024Operating cash flow−199.3Capital expenditure−19.3Free cash flow−218.6Fiscal year 2025Operating cash flow−271.2Capital expenditure−24.6Free cash flow−295.8Buybacks−5.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow n/a n/a −40.2 6.5 202.3 −182.6 −123.6 −199.3 −271.2
Capital expenditure n/a n/a −1.2 −0.3 −5.6 −17.7 −3.3 −19.3 −24.6
Free cash flow n/a n/a −41.4 6.1 196.6 −200.3 −126.9 −218.6 −295.8
Growth +3,098.4% −201.9%
Buybacks n/a n/a n/a −3.7 −16.1 −37.4 n/a n/a −5.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Shareholders’ equity857.2Fiscal year 2018Cash258.9Shareholders’ equity241.0Fiscal year 2019Cash516.6Shareholders’ equity692.8Fiscal year 2020Cash391.3Shareholders’ equity432.6Fiscal year 2021Cash2,684.3Shareholders’ equity3,458.7Fiscal year 2022Cash707.3Shareholders’ equity4,235.7Fiscal year 2023Fiscal year 2024Total debt23.9Fiscal year 2025Total debt52.2
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash n/a 258.9 516.6 391.3 2,684.3 707.3 n/a n/a n/a
Total debt n/a n/a n/a n/a n/a n/a n/a 23.9 52.2
Shareholders’ equity 857.2 241.0 692.8 432.6 3,458.7 4,235.7 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a −36.3% 8.4% 57.2% 35.3% −113.9% −31.3% 7.8%
n/a n/a n/a −56.7% 36.6% 6.6% −194.3% −84.3% −21.2%
n/a n/a −72.7% −48.0% 41.0% 13.6% −220.1% −64.0% −39.2%
n/a n/a −72.7% −48.0% 40.0% 10.7% −195.8% −92.7% −39.7%
n/a n/a −20.3% 9.0% 25.4% −30.8% −60.0% −81.2% −55.8%
Spending
n/a n/a 11.9% 31.3% 6.8% 12.5% 30.7% 22.8% 11.9%
n/a n/a 24.4% 29.4% 11.8% 13.6% 33.7% 26.6% 12.8%
n/a n/a 0.6% 0.5% 0.7% 2.7% 1.6% 7.2% 4.6%
n/a n/a n/a n/a 2.5% 20.9% n/a n/a n/a
Returns
n/a n/a −21.4% −7.6% 8.9% 1.6% n/a n/a n/a
n/a n/a −104.3% −20.8% 35.0% 10.2% −84.0% −53.9% −34.9%
Balance and payout
n/a n/a 30.1% 58.3% 38.6% 11.3% 29.4% 42.5% 27.5%
n/a n/a n/a 59.6% 8.2% n/a n/a n/a n/a