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CAN · Nasdaq · United States · Finance Services
In shortCanaan Inc. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it. Bank or insurer: tests that do not apply to them are left out.
| Operating marginShare of each sale left after running the business, before interest and tax. | -21.2% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -39.7% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -59.8% | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -55.8% | n/a |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 5 | n/a |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 458.4% | 0/100 |
| Operating margin volatility | 91.5% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -6.7% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
2 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 773 | 652 | 211 | 269 | 530 |
| Cost of revenue | 331 | 421 | 452 | 354 | 489 |
| Gross profit | 442 | 230 | (241) | (84) | 41 |
| Research & development | 52 | 82 | 65 | 61 | 63 |
| Operating income | 283 | 43 | (411) | (227) | (112) |
| Interest expense | – | – | – | 0.5 | 2 |
| Pre-tax income | 317 | 88 | (465) | (172) | (207) |
| Income tax | 7.8 | 18 | (51) | 77 | 2.8 |
| Net income | 309 | 70 | (414) | (250) | (210) |
| Diluted EPS | $12.00 | $2.71 | −$16.06 | −$6.13 | −$2.99 |
| Diluted shares (millions) | 2,576 | 2,578 | 2,579 | 4,072 | 7,043 |
2 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: the model does not apply to banks and insurers.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice.
Latest annual report: Dec 31, 2025 · Data updated Apr 15, 2026