Balance Sheet Canaan Inc.

Equities

CAN

US1347481020

Blockchain & Cryptocurrency

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03:37pm	Asian Equities Traded in the US as American Depositary Receipts Wednesday Surge Higher in Wednesday Trading	MT
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220a33a63373e4402c1a23df62e6.e7V5dF36F9syF6qmj4-O-XqbTOdECsWfzo8pSMPGWVM.EORPFjHOdu12VMzW_uf-qz3yA4Emcp_uiNVdP_CqNgwI41QwArlilllu6w

Published financial data: CANAAN INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	4.96B	4.16B	177M	223M	414M
Other Revenues, Total	22.04M	219M	34.58M	46.09M	116M
Total Revenues	4.99B	4.38B	211M	269M	530M
Cost of Goods Sold, Total	2.14B	2.83B	452M	354M	489M
Gross Profit	2.85B	1.55B	-241M	-84.32M	41.16M
Selling General & Admin Expenses, Total	690M	643M	79.42M	77.4M	81.65M
R&D Expenses	333M	547M	64.84M	61.32M	63.14M
Other Operating Expenses	-	52.96M	4.71M	-	-
Other Operating Expenses, Total	1.02B	1.24B	149M	139M	145M
Operating Income	1.83B	305M	-390M	-223M	-104M
Interest Expense, Total	-	-	-	-521K	-1.97M
Interest And Investment Income	7.59M	15.94M	956K	536K	266K
Net Interest Expenses	7.59M	15.94M	956K	15K	-1.7M
Currency Exchange Gains (Loss)	17.89M	243M	12.31M	14.14M	-3.52M
Other Non Operating Income (Expenses)	197M	46.75M	-8.68M	91.44M	-61.86M
EBT, Excl. Unusual Items	2.05B	610M	-385M	-117M	-171M
Gain (Loss) On Sale Of Investments	25K	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	7.22M	1.58M
Asset Writedown	-	-	-21.13M	-11.3M	-10.17M
Other Unusual Items	-	-	-59.2M	-50.72M	-28.18M
EBT, Incl. Unusual Items	2.05B	610M	-465M	-172M	-207M
Income Tax Expense	50.11M	124M	-51.34M	77.48M	2.78M
Earnings From Continuing Operations	2B	486M	-414M	-250M	-210M
Net Income to Company	2B	486M	-414M	-250M	-210M
Net Income - (IS)	2B	486M	-414M	-250M	-210M
Net Income to Common Incl Extra Items	2B	486M	-414M	-250M	-210M
Net Income to Common Excl. Extra Items	2B	486M	-414M	-250M	-210M
Per Share Items
Net EPS - Basic	11.9	2.85	-2.41	-0.92	-0.45
Basic EPS - Continuing Operations	11.9	2.85	-2.41	-0.92	-0.45
Basic Weighted Average Shares Outstanding	168M	171M	172M	271M	470M
Net EPS - Diluted	11.65	2.83	-2.41	-0.92	-0.45
Diluted EPS - Continuing Operations	11.65	2.83	-2.41	-0.92	-0.45
Diluted Weighted Average Shares Outstanding	172M	172M	172M	271M	470M
Normalized Basic EPS	7.62	2.24	-1.4	-0.27	-0.23
Normalized Diluted EPS	7.46	2.22	-1.4	-0.27	-0.23
American Depositary Receipts Ratio (ADR)	15	15	15	15	15
Supplemental Items
EBITDA	1.84B	531M	-330M	-195M	-56.08M
EBITA	1.83B	305M	-390M	-223M	-103M
EBIT	1.83B	305M	-390M	-223M	-104M
EBITDAR	1.84B	533M	-330M	-194M	-55.51M
Total Revenues (As Reported)	4.99B	4.38B	211M	269M	530M
Effective Tax Rate - (Ratio)	2.44	20.32	11.03	-44.98	-1.34
Total Current Taxes	149M	218M	-5.65M	11.33M	2.71M
Total Deferred Taxes	-99.04M	-93.85M	-45.69M	66.15M	72K
Normalized Net Income	1.28B	381M	-241M	-73.41M	-107M
Interest on Long-Term Debt	1.61M	1.34M	115K	90K	2.07M
Supplemental Operating Expense Items
Advertising Expense	4.46M	6.77M	1.64M	535K	780K
Selling and Marketing Expenses	100M	62.97M	8.18M	5.71M	13.58M
General and Administrative Expenses	589M	579M	70.83M	71.13M	67.49M
Research And Development Expense From Footnotes	333M	547M	64.84M	61.32M	63.14M
Net Rental Expense, Total	443K	1.51M	417K	563K	573K
Imputed Operating Lease Interest Expense	-	-	-	166K	220K
Imputed Operating Lease Depreciation	-	-	-	397K	353K
Stock-Based Comp., COGS (Total)	269K	990K	207K	312K	339K
Stock-Based Comp., R&D Exp. (Total)	99.17M	66.06M	9.1M	7.29M	4.64M
Stock-Based Comp., S&M Exp. (Total)	8.24M	16.26M	234K	156K	246K
Stock-Based Comp., G&A Exp. (Total)	384M	324M	32.54M	23.16M	17.57M
Total Stock-Based Compensation	491M	407M	42.07M	30.92M	22.8M

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	2.68B	707M	96.15M	96.49M	80.78M
Short Term Investments	-	23.18M	3.75M	2.15M	2.14M
Total Cash And Short Term Investments	2.68B	730M	99.9M	98.64M	82.92M
Accounts Receivable, Total	367K	-	3M	1.51M	19.29M
Other Receivables	275M	504M	55.4M	113M	111M
Total Receivables	275M	504M	58.4M	115M	130M
Inventory	812M	1.47B	142M	94.62M	181M
Restricted Cash	47.36M	-	-	-	-
Other Current Assets, Total	1.45B	1.16B	63.09M	26.1M	39.73M
Total Current Assets	5.27B	3.87B	364M	334M	433M
Gross Property Plant And Equipment	241M	871M	117M	116M	158M
Accumulated Depreciation	-24.49M	-244M	-86.1M	-71.94M	-111M
Net Property Plant And Equipment	216M	628M	31.16M	43.66M	46.91M
Long-term Investments	20M	20M	2.82M	2.78M	2.84M
Other Intangibles, Total	-	-	-	901K	689K
Deferred Tax Assets Long-Term	99.04M	151M	66.81M	295K	191K
Other Long-Term Assets, Total	23.27M	105M	28.83M	81.35M	119M
Total Assets	5.63B	4.77B	493M	463M	603M
Liabilities
Accounts Payable, Total	143M	116M	6.24M	13.98M	25.6M
Accrued Expenses, Total	269M	201M	28.07M	23.3M	32.98M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	16.66M	28.52M
Current Portion of Leases	14.82M	16.12M	1.22M	1.24M	1.71M
Current Income Taxes Payable	149M	50.34M	3.53M	10.93M	11.4M
Unearned Revenue Current, Total	1.34B	4.61M	19.61M	24.25M	9.32M
Other Current Liabilities	168M	135M	76.51M	88.22M	21.57M
Total Current Liabilities	2.09B	524M	135M	179M	131M
Long-Term Debt	-	-	-	7.28M	23.73M
Long-Term Leases	16.29M	10.04M	210K	1.7M	948K
Unearned Revenue Non Current	-	-	-	9.06M	9.26M
Deferred Tax Liability Non Current	-	-	-	153K	117K
Other Non Current Liabilities	72.17M	4.16M	9.71M	-	370K
Total Liabilities	2.17B	538M	145M	197M	166M
Common Stock, Total	1K	1K	-	-	1K
Additional Paid In Capital	2.89B	3.3B	654M	816M	1.18B
Retained Earnings	901M	1.32B	-205M	-436M	-646M
Treasury Stock	-231M	-381M	-57.06M	-57.06M	-37.17M
Comprehensive Income and Other	-102M	-4.84M	-43.88M	-57.46M	-56.65M
Total Common Equity	3.46B	4.24B	348M	266M	437M
Total Equity	3.46B	4.24B	348M	266M	437M
Total Liabilities And Equity	5.63B	4.77B	493M	463M	603M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	172M	166M	234M	308M	668M
ECS Total Common Shares Outstanding	172M	166M	234M	308M	668M
Book Value / Share	20.13	25.46	1.49	0.87	0.66
Tangible Book Value	3.46B	4.24B	348M	265M	437M
Tangible Book Value Per Share	20.13	25.46	1.49	0.86	0.65
Total Debt	31.11M	26.16M	1.43M	26.88M	54.9M
Net Debt	-2.65B	-704M	-98.47M	-71.76M	-28.02M
Debt Equivalent Oper. Leases	3.54M	12.05M	3.34M	4.5M	4.58M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	429M	789M	95.06M	56.52M	99.77M
Inventories - Work In Process, Total	78.35M	261M	15.9M	5.57M	23.54M
Inventories - Finished Goods, Total	305M	423M	31.32M	32.53M	57.5M
Land - (BS)	-	-	-	120K	120K
Machinery, Total	183M	792M	107M	93.27M	141M
Full Time Employees	346	541	445	463	399
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	14K	-	92K

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	2B	486M	-414M	-250M	-210M
Depreciation & Amortization - CF	31.71M	242M	62.12M	28.26M	47.35M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	159K	212K
Depreciation & Amortization, Total	31.71M	242M	62.12M	28.42M	47.56M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	694K
(Gain) Loss From Sale Of Asset	47K	272K	18K	-7.22M	-1.58M
(Gain) Loss on Sale of Investments - (CF)	25K	-	10.92M	-	-
Asset Writedown & Restructuring Costs	-	-	21.13M	11.3M	10.17M
Stock-Based Compensation (CF)	491M	407M	42.07M	30.92M	22.8M
Provision and Write-off of Bad Debts	911K	90K	14K	2.98M	85K
Other Operating Activities, Total	-267M	413M	138M	87.95M	22.61M
Change In Accounts Receivable	6.76M	367K	-3.01M	97K	-17.66M
Change In Inventories	-788M	-1.56B	-124M	-129M	-138M
Change In Accounts Payable	106M	-95.18M	-10.24M	7.22M	10.84M
Change in Unearned Revenues	910M	-1.39B	19.03M	4.8M	-15.11M
Change In Income Taxes	149M	-98.48M	-3.6M	588K	-701K
Change in Other Net Operating Assets	-1.2B	-107M	138M	12.7M	-2.34M
Cash from Operations	1.44B	-1.7B	-124M	-199M	-271M
Capital Expenditure	-37.71M	-95.13M	-3.31M	-19.3M	-24.61M
Sale of Property, Plant, and Equipment	160K	-	2.3M	8.78M	686K
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	42.66M	-	-	-	-
Other Investing Activities, Total	-	64.81M	40.64M	71.49M	80.66M
Cash from Investing	5.12M	-30.32M	39.63M	60.97M	56.73M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	9.94M	-
Total Debt Issued	-	-	-	9.94M	-
Short Term Debt Repaid, Total	-35M	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-16.97M
Total Debt Repaid	-35M	-	-	-	-16.97M
Issuance of Common Stock	1.08B	70.38M	67.85M	768K	122M
Repurchase of Common Stock	-129M	-392M	-2.42M	-768K	-6.61M
Issuance of Preferred Stock	-	-	24.58M	130M	99.65M
Other Financing Activities, Total	-5.7M	-44.28M	-	-	-
Cash from Financing	906M	-366M	90M	140M	198M
Foreign Exchange Rate Adjustments	-13.92M	68.08M	-11.41M	-1.12M	897K
Net Change in Cash	2.34B	-2.02B	-5.4M	334K	-15.71M
Supplemental Items
Cash Interest Paid	246K	-	-	370K	1.34M
Cash Income Tax Paid (Refund)	433K	316M	2.88M	52K	1.44M
Levered Free Cash Flow	1.12B	-1.37B	105M	-44.6M	-194M
Unlevered Free Cash Flow	1.12B	-1.37B	105M	-44.28M	-193M
Change In Net Working Capital	510M	2.11B	-248M	-55.09M	175M
Net Debt Issued / Repaid	-35M	-	-	9.94M	-16.97M

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	34.27	3.66	-41.35	-29.15	-12.15
Return on Total Capital	57.52	4.91	-50.69	-43.38	-16.49
Return On Equity %	102.81	12.64	-86.66	-81.29	-59.77
Return on Common Equity	102.81	12.64	-86.66	-81.29	-59.77
Margin Analysis
Gross Profit Margin %	57.17	35.35	-113.86	-31.31	7.77
SG&A Margin	13.83	14.7	37.56	28.74	15.41
EBITDA Margin %	36.95	12.13	-156.1	-72.26	-10.59
EBITA Margin %	36.66	6.96	-184.3	-82.76	-19.52
EBIT Margin %	36.66	6.96	-184.3	-82.82	-19.56
Income From Continuing Operations Margin %	40.11	11.11	-195.84	-92.73	-39.69
Net Income Margin %	40.11	11.11	-195.84	-92.73	-39.69
Net Avail. For Common Margin %	40.11	11.11	-195.84	-92.73	-39.69
Normalized Net Income Margin	25.7	8.71	-113.83	-27.26	-20.14
Levered Free Cash Flow Margin	22.41	-31.28	49.83	-16.56	-36.69
Unlevered Free Cash Flow Margin	22.41	-31.28	49.83	-16.44	-36.46
Asset Turnover
Asset Turnover	1.5	0.84	0.36	0.56	0.99
Fixed Assets Turnover	41.03	10.38	3.5	7.2	11.7
Receivables Turnover (Average Receivables)	1.32K	-	-	98.97	39.78
Inventory Turnover (Average Inventory)	4.12	2.48	2.56	2.99	3.55
Short Term Liquidity
Current Ratio	2.53	7.38	2.69	1.87	3.31
Quick Ratio	1.42	2.36	1.17	1.19	1.62
Operating Cash Flow to Current Liabilities	0.69	-3.24	-0.91	-1.12	-2.07
Days Sales Outstanding (Average Receivables)	0.28	-	-	3.7	9.18
Days Outstanding Inventory (Average Inventory)	88.68	147.38	142.82	122.59	102.88
Average Days Payable Outstanding	13.06	13.57	10.94	12.09	12.57
Cash Conversion Cycle (Average Days)	75.9	-	-	114.2	99.49
Long Term Solvency
Total Debt/Equity	0.9	0.62	0.41	10.09	12.55
Total Debt / Total Capital	0.89	0.61	0.41	9.17	11.15
LT Debt/Equity	0.47	0.24	0.06	3.37	5.64
Long-Term Debt / Total Capital	0.47	0.24	0.06	3.06	5.01
Total Liabilities / Total Assets	38.59	11.28	29.42	42.5	27.45
EBIT / Interest Expense	-	-	-	-428.1	-52.72
EBITDA / Interest Expense	-	-	-	-372.48	-28.23
(EBITDA - Capex) / Interest Expense	-	-	-	-409.53	-40.75
Total Debt / EBITDA	0.02	0.05	-0	-0.14	-0.99
Net Debt / EBITDA	-1.44	-1.32	0.3	0.37	0.5
Total Debt / (EBITDA - Capex)	0.02	0.06	-0	-0.13	-0.69
Net Debt / (EBITDA - Capex)	-1.47	-1.61	0.3	0.34	0.35
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.01K	-12.19	-67.54	27.35	96.69
Gross Profit, 1 Yr. Growth %	7.45K	-45.71	-204.56	-64.98	-148.81
EBITDA, 1 Yr. Growth %	-927.55	-71.17	-530.81	-41.04	-71.19
EBITA, 1 Yr. Growth %	-820.15	-83.33	-1.01K	-42.81	-53.6
EBIT, 1 Yr. Growth %	-820.15	-83.33	-1.01K	-42.77	-53.53
Earnings From Cont. Operations, 1 Yr. Growth %	-1.03K	-75.69	-692.63	-39.7	-15.81
Net Income, 1 Yr. Growth %	-1.03K	-75.69	-692.63	-39.7	-15.81
Normalized Net Income, 1 Yr. Growth %	-1.04K	-70.23	-536.04	-69.51	45.35
Diluted EPS Before Extra, 1 Yr. Growth %	-946.78	-75.7	-692.62	-61.81	-51.25
Accounts Receivable, 1 Yr. Growth %	-94.85	-	-	-49.48	1.17K
Inventory, 1 Yr. Growth %	260.21	81.44	-32.77	-33.5	91.1
Net Property, Plant and Equip., 1 Yr. Growth %	713.4	189.9	-65.23	40.13	7.44
Total Assets, 1 Yr. Growth %	443.46	-15.24	-27.98	-6.14	30.21
Tangible Book Value, 1 Yr. Growth %	699.59	22.47	-42.7	-23.79	64.57
Common Equity, 1 Yr. Growth %	699.59	22.47	-42.7	-23.53	64.27
Cash From Operations, 1 Yr. Growth %	3.3K	-217.92	-32.3	61.19	36.11
Capital Expenditures, 1 Yr. Growth %	1.63K	152.28	-81.34	482.85	27.5
Levered Free Cash Flow, 1 Yr. Growth %	881.96	-222.38	-155.93	-143.35	457.52
Unlevered Free Cash Flow, 1 Yr. Growth %	862.99	-222.38	-155.93	-143.03	459.22
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	87.22	212.75	-47.69	-35.71	58.27
Gross Profit, 2 Yr. CAGR %	135.05	540.2	-26.17	-39.49	-58.66
EBITDA, 2 Yr. CAGR %	34.46	54.45	7.59	59.37	-58.78
EBITA, 2 Yr. CAGR %	31.75	9.55	17.36	127.84	-48.49
EBIT, 2 Yr. CAGR %	31.75	9.55	17.36	127.92	-48.43
Earnings From Cont. Operations, 2 Yr. CAGR %	39.05	50.37	15.76	89.05	-28.75
Net Income, 2 Yr. CAGR %	39.05	50.37	15.76	89.05	-28.75
Normalized Net Income, 2 Yr. CAGR %	40.78	67.49	10.25	15.31	-33.42
Diluted EPS Before Extra, 2 Yr. CAGR %	27.12	43.45	15.69	50.43	-56.85
Accounts Receivable, 2 Yr. CAGR %	-64.25	-	620.25	-	153.7
Inventory, 2 Yr. CAGR %	103.55	155.65	5.48	-33.14	12.73
Net Property, Plant and Equip., 2 Yr. CAGR %	118.45	385.59	-4.38	-30.2	22.7
Total Assets, 2 Yr. CAGR %	138.35	114.63	-25.41	-17.78	10.55
Tangible Book Value, 2 Yr. CAGR %	123.44	212.93	-20.03	-33.92	11.99
Common Equity, 2 Yr. CAGR %	123.44	212.93	-20.03	-33.81	12.08
Cash From Operations, 2 Yr. CAGR %	126.66	533.36	-21.83	4.46	48.12
Capital Expenditures, 2 Yr. CAGR %	112.13	561.19	-23.4	4.3	172.6
Levered Free Cash Flow, 2 Yr. CAGR %	68.17	246.89	-21.85	-51.63	33.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	65.57	243.52	-21.85	-51.81	33.4
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	22.61	45.46	49.62	-29.63	-6.67
Gross Profit, 3 Yr. CAGR %	77.69	44.22	256.24	-42.42	-43.67
EBITDA, 3 Yr. CAGR %	92.97	-19.53	119.07	-11.96	-9.88
EBITA, 3 Yr. CAGR %	95.88	-33.86	121.63	-7.65	34.05
EBIT, 3 Yr. CAGR %	95.88	-33.86	121.63	-7.63	34.14
Earnings From Cont. Operations, 3 Yr. CAGR %	153.75	-22.24	139.01	-6.86	44.37
Net Income, 3 Yr. CAGR %	153.75	-22.24	139.01	-6.86	44.37
Normalized Net Income, 3 Yr. CAGR %	117.15	-16.13	132.41	-28.16	24.56
Diluted EPS Before Extra, 3 Yr. CAGR %	132.35	-26.77	131.58	-20.05	3.33
Accounts Receivable, 3 Yr. CAGR %	-75.07	-	43.93	197.03	-
Inventory, 3 Yr. CAGR %	11.52	95.9	64.78	-9.55	-5.11
Net Property, Plant and Equip., 3 Yr. CAGR %	97.91	140.06	102.48	8.61	-19.4
Total Assets, 3 Yr. CAGR %	58.94	68.87	50	-19.47	-4.17
Tangible Book Value, 3 Yr. CAGR %	143.02	82.86	78.71	-21.3	-10.43
Common Equity, 3 Yr. CAGR %	143.02	82.86	78.71	-21.21	-10.38
Cash From Operations, 3 Yr. CAGR %	383.33	82.3	174.68	-0.5	14.1
Capital Expenditures, 3 Yr. CAGR %	14.82	124.74	120.99	50.66	11.52
Levered Free Cash Flow, 3 Yr. CAGR %	54.34	51.33	87.24	-36.3	0.64
Unlevered Free Cash Flow, 3 Yr. CAGR %	60.4	49.77	86.03	-36.45	0.43
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	27.33	-11.13	6.68	52.6
Gross Profit, 5 Yr. CAGR %	-	20.69	27.43	3.59	50.12
EBITDA, 5 Yr. CAGR %	-	5.49	55.63	6.87	11.99
EBITA, 5 Yr. CAGR %	-	-5.17	62.59	9.08	23.3
EBIT, 5 Yr. CAGR %	-	-5.17	62.59	9.1	23.35
Earnings From Cont. Operations, 5 Yr. CAGR %	-	5.29	88.8	12	46.89
Net Income, 5 Yr. CAGR %	-	5.29	88.8	12	46.89
Normalized Net Income, 5 Yr. CAGR %	-	8.68	68.64	-3.69	40.57
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-0.2	79.04	-1.41	17.93
Accounts Receivable, 5 Yr. CAGR %	-	-	-2.15	30.93	80.06
Inventory, 5 Yr. CAGR %	-	41.5	11.49	28.64	41.18
Net Property, Plant and Equip., 5 Yr. CAGR %	-	102.56	51.23	47.68	65.26
Total Assets, 5 Yr. CAGR %	-	31.74	20.05	27.8	32.4
Tangible Book Value, 5 Yr. CAGR %	-	37.65	59.26	22.83	47.83
Common Equity, 5 Yr. CAGR %	-	37.65	59.26	22.91	47.88
Cash From Operations, 5 Yr. CAGR %	-	79.44	133.08	39.02	113.97
Capital Expenditures, 5 Yr. CAGR %	-	49.69	-1.17	75.85	139.69
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	19.7	-3.8	64.22
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	22.5	-4.54	63.37