Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.
CAN
STRONG SELLREMOVECanaan Inc. · Technology · Singapore · $257M · Avg Vol: $4M/d
Bitcoin mining hardware manufacturer. Highly cyclical, capital-intensive, and lacks a durable economic moat. Fails the Terry Smith quality filter and does not align with our core structural macro themes.
COMPANY DESCRIPTION
Canaan Inc. designs, manufactures, and sells advanced ASIC-based cryptocurrency mining machines, primarily for Bitcoin, and also develops related AI chips. As one of the earliest and largest developers of ASIC mining equipment, it benefits from proprietary chip design and R&D focus. The company's performance is highly sensitive to the volatile cryptocurrency market conditions.
FINANCIAL SUMMARY (USD)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|---|
| Revenue | 772.8M | 651.5M | 211.5M | 269.3M | 529.7M | -9.0% |
| EPS | 1.87 | 2.16 | -12.54 | -7.10 | -6.65 | 15.9% |
| Shares | 2.8B | 724.7M | 724.7M | 724.7M | 724.7M | -74.2% |
| Debt | 4.9M | 3.8M | 1.4M | 95.0M | 54.9M | 83.1% |
| Equity | 542.6M | 607.7M | 348.2M | 266.3M | 437.4M | -5.2% |
| Op CF | 202.3M | -182.6M | -123.6M | -199.3M | -271.2M | — |
| Inv CF | 0.8M | -8.1M | 39.6M | 61.0M | 56.7M | — |
| Fin CF | 139.2M | -56.2M | 90.0M | 139.7M | 197.9M | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of CAN are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| CAN | Canaan Inc.(you) | $257M | 5 | STRONG SELL |
| BGIN | Bgin Blockchain Limited | $327M | 3 | STRONG SELL |
| SUPX | SuperX AI Technology Limited | $351M | 1 | STRONG SELL |
| 2562.HK | Synagistics Limited | $98M | 7 | STRONG SELL |
| AMBR | Amber International Holding Limited | $139M | 17 | STRONG SELL |
| 2342.HK | Comba Telecom Systems Holdings Limited | $436M | 26 | SELL |
| HQ | Horizon Quantum Holdings Ltd. | $1.8B | 6 | STRONG SELL |
| Y3D.SI | mDR Limited | $77M | 25 | SELL |
| S69.SI | Serial System Ltd | $55M | 31 | SELL |
| BTDR | Bitdeer Technologies Group | $4.5B | 19 | STRONG SELL |
Peer medians: ROE 7.2% · P/E 53.9x · Gross margin 33.0%