CAN
Canaan Inc.
CAN lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to grow, though they disagree widely on how much.
CAN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Stable | |
| Strong |
CAN's revenue and balance sheet are currently healthy, and its cash flow is stable, but its profitability is under pressure.
CAN PE Valuation
CAN has no meaningful PE right now: it lost money over the past year.
CAN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong decline | |
| -- | |
| Limited | |
| Low |
Analysts expect CAN's losses to grow, with revenue declining. However, they disagree widely on these estimates.
CAN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.45 | +$0.44 |
| Q1 2026 | -$0.34 | +$0.67 |
| Q4 2025 | -$0.48 | +$0.42 |
| Q3 2025 | -$0.67 | +$0.68 |
| Q2 2025 | -$0.89 | +$0.66 |
| Q1 2025 | -$1.01 | +$1.04 |
| Q4 2024 | -$0.90 | +$1.49 |
| Q3 2024 | -$1.35 | +$0.81 |
CAN is still losing money, but far less than before: $0.45 per share over the past year, against $2.39 at its worst in late 2023.
CAN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $31.9M | -68% |
| Q1 2026 | $62.7M | -24% |
| Q4 2025 | $196.3M | +121% |
| Q3 2025 | $150.7M | +105% |
| Q2 2025 | $100.2M | +39% |
| Q1 2025 | $82.8M | +136% |
| Q4 2024 | $88.8M | +81% |
| Q3 2024 | $73.6M | +121% |
CAN's revenue is growing: $32M last quarter, down 68% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -192% | -165 points |
| Q1 2026 | -87% | -42 points |
| Q4 2025 | -7.6% | +55 points |
| Q3 2025 | -15% | +62 points |
| Q2 2025 | -27% | +38 points |
| Q1 2025 | -45% | +148 points |
| Q4 2024 | -63% | +127 points |
| Q3 2024 | -77% | +261 points |
CAN's operating margin was −192% last quarter, down 165 points from the same quarter a year ago.
CAN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$325.8M |
| Q3 2025 | $0 | +$60.8M |
| Q2 2025 | $0 | $0 |
| Q1 2025 | $0 | $0 |
| Q4 2024 | -$325.8M | -$286M |
| Q3 2024 | -$60.8M | -$60.8M |
CAN's free cash flow was $0 over the past year, against −$387M the year before.
CAN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.6% | +31.7M shares |
| 1 year | +81% | +323M shares |
| 3 years | +326% | +554M shares |
| 5 years | +314% | +548M shares |
| Available history | +396% | +577M shares |
CAN has 723M diluted shares, up 81% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
CAN hasn't bought back shares in the past year.
CAN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2022 | -1.2x | Net Cash |
| Q3 2022 | -0.8x | Net Cash |
| Q2 2022 | -0.8x | Net Cash |
| Q1 2022 | -1.0x | Net Cash |
| Q4 2021 | -1.3x | Net Cash |
| Q3 2021 | -2.9x | Net Cash |
| Q2 2021 | -54.8x | Net Cash |
CAN has more cash than debt.
CAN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.6 | Neutral |
| Stochastic | 10.0 | Oversold |
CAN's weekly RSI is 33 (neutral) and its Stochastic is 10 (oversold).
CAN PE vs Technology Sector
| Metric | CAN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
CAN has no meaningful PE right now: it lost money over the past year.
CAN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.25 | 36% below |
| 20 week MA | $0.28 | 43% below |
| 50 week MA | $0.44 | 64% below |
| 100 week MA | $0.78 | 79% below |
| 200 week MA | $1.31 | 88% below |
CAN is in a downtrend: it's below all five of its weekly moving averages, and 88% below its 200-week average.
CAN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.63 | $3.73 | -34% |
| 2021 | $3.73 | $5.45 | +46% |
| 2022 | $5.45 | $2.08 | -62% |
| 2023 | $2.08 | $2.31 | +11% |
| 2024 | $2.31 | $2.23 | -3.5% |
| 2025 | $2.23 | $0.76 | -66% |
| 2026 YTD | $0.76 | $0.16 | -79% |
CAN has finished lower in four of the last six years. It's down 79% so far in 2026.