Canaan Inc. American Depositary Shares (CAN)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the 2026-10-13 close of $0.28, Canaan has a $396 million market value. In the latest quarter, fiscal Q2 2026, revenue was $31.9 million and net income was -$97.6 million, a net margin of -306.34%. That is not a business earning money; it is a business consuming capital. The provided revenue growth is -24.26% and profit growth is -2.68%, so the trend is shrinking and still deeply unprofitable. FairStock's return measures make the same point: ROE -97.07% and ROCE -18.45%. The balance sheet has D/E 0.24, which is not alarming, but FairStock's Altman Z-Score is -0.95 and Piotroski F-Score is 1/9, signs of financial distress and poor fundamentals. The stock trades at a FairStock P/B of 0.72 and a negative P/E of -0.62. A discount to book can attract a Graham-style investor, but book value is only meaningful if losses stop eroding it. Canaan designs chips and bitcoin mining equipment, a commodity-like, cyclical industry. There is little evidence of a durable competitive moat: 399 employees, global distribution, but no pricing power visible in a -306% quarterly margin. FairStock's Lynch category is none because there are only 0 years of filed results, needing 3. The 58/100 FairStock Score is middling, and beta 2.73 suggests high volatility. Growth trajectory is negative until mining demand and margins recover. I would want to see several quarters of positive cash generation before calling this anything but speculative.

In plain English: Canaan makes computer chips and machines used to mine bitcoin, and it also mines bitcoin itself. In its latest quarter, fiscal Q2 2026, it brought in $31.9 million in revenue but lost $97.6 million, so the business looks very weak right now. At the 2026-10-13 closing price of $0.28, the stock trades below what its books say the company is worth, but the big losses and weak financial signs mean the low price may be deserved.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer