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Canaan Inc (CAN) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Canaan Inc stock $0.32, price $0.19, upside +73.7%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology US · Based in Singapore

CI Canaan Inc logo Thin data Nov 9, 2026

Canaan Inc

CAN · US
Cheap, value-trap risk

The stock costs 42% less than our calculation considers fair.

Fair value $0.3230 · Strongly undervalued
Even on cautious assumptions the value is 14% above the price ($0.2125).
Quality 43/100
Weak Growth (revenue 3y −50.9 %/yr in USD)
Loss-making · -67.8% net margin (TTM)
Negative free cash flow
Trails peers (3/9)
Narrow moat 5/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$10.70 $0.1700 Fair Value $0.3230 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range $0.1700 – $10.70 · fair‑value band $0.2125 – $0.3995 · the $0.1860 price screens below the $0.3230 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.

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Company profile

Canaan Inc. engages in the research and development, design, and sale of integrated circuits, and bitcoin mining equipment and related components. The company is involved in the assembly and distribution of mining equipment and spare parts; and mining business.

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It has operations in the United States, Mainland China, the United Arab Emirates, Ethiopia, Hong Kong Special Administrative Region, Malaysia, Kazakhstan, Canada, Netherlands, Singapore, Ireland, Georgia, Brazil, and internationally. Canaan Inc. was founded in 2013 and is headquartered in Singapore.

Stock analysis

Canaan Inc (CAN) currently trades at $0.1860, while our model-based Fair Value estimate is $0.3230, implying the stock looks roughly 42% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $0.2125 (bear) to $0.3995 (bull), the price of $0.1860 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 43/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Canaan Inc reported revenue of $530M in FY2025 versus $4.9B in FY2021, a compound −42.7%/yr. Reported net income was −$210M in FY2025.

Key figures

Market cap $136M Micro · P/S ratio 0.38 · EPS (TTM) $−0.4500 · Net margin −67.8% · Return on equity −97.1% · Return on assets (EBIT) −22.6% (5-year average) · Operating margin −192% · Revenue (TTM) $441M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 84% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 74%, CAN screens cheaper than that median.

Fair Value models

Bear $0.2125 Fair Value $0.3230 Bull $0.3995
Price $0.1860 · Upside +73.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $0.2500 $0.3800 $0.4700 52
All 1 models by family
Asset-Based
NCAV (Graham) $0.2500 $0.3800 $0.4700 52

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 43/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 15
How much profit the company makes from its sales and capital
Quality Growth 100
Are margins and returns getting better?
Cashflow 18
Do the profits arrive as real cash?
Financial strength 60
Debt, balance sheet and risk of trouble
Investment 91
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 14
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+96.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−50.9%
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−10.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−53.6% (2020) → −21.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Computer Hardware · 213 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside +73.7% · Top 25%
Profitability
Return on assets −34.9% · Bottom 25%
Net margin (12 months) −67.8% · Bottom 25%
Operating margin (12 months) −192.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −68.2% · Bottom 25%

Valuation Multiplesvs Computer Hardware median · lower = cheaper

P/B 0.31× · Cheapest 25%
P/S (12 months) 0.31× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 8
FUTURE (revenue growth)0 · sector 84
PAST (return on equity)0 · sector 33
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 50

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Computer Hardware stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
HP Inc HPQ $28.46 $52.85 +86% vs CAN
Lenovo Group 0992 HK$19.41 HK$33.69 +74% vs CAN
Hangzhou Hikvision Digital Technology Co 002415 ¥35.25 ¥46.76 +33% vs CAN
Sandisk Corporation SNDK $835.06 $789.73 −5% vs CAN
Arista Networks, Inc ANET $170.80 $160.68 −6% vs CAN
Quanta Computer Inc 2382 296.50 TWD 213.20 TWD −28% vs CAN
Western Digital Corporation WDC $263.78 $175.91 −33% vs CAN
Dell Technologies Inc DELL $328.53 $195.72 −40% vs CAN
Everpure, Inc P $96.75 $57.04 −41% vs CAN
Seagate Technology Holdings STX $460.99 $208.25 −55% vs CAN

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Canaan Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Canaan Inc Fair Value". https://www.fairvalue-calculator.com/stock/CAN

Frequently asked questions

Is Canaan Inc (CAN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of $0.3230 versus a price of $0.1860, about +74% upside (undervalued).
What is the fair value of CAN?
Our model-based fair value for Canaan Inc is $0.3230 (as of Nov 9, 2026), built from audited fundamentals. The current price: $0.1860.
What is the quality score of CAN?
Canaan Inc has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Canaan Inc (CAN)?
Our model-based price target is the fair value of $0.3230 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario $0.2125, optimistic scenario $0.3995. It is a calculation from audited fundamentals, not an analyst target.
What is the Canaan Inc stock forecast for 2026?
Our models put fair value at $0.3230, about +74% upside versus a price of $0.1860 (undervalued). Cautious scenario $0.2125, optimistic scenario $0.3995. The calculation is refreshed regularly with new filings.
What is the revenue of Canaan Inc (CAN)?
Canaan Inc reported trailing-twelve-month revenue of about $441M (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Canaan Inc (CAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Canaan Inc it is $0.3230 per share (as of Nov 9, 2026), against a price of $0.1860. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Canaan Inc stock overvalued or undervalued in 2026?
As of Nov 9, 2026, CAN trades below its calculated fair value: price $0.1860, fair value $0.3230, a gap of about +74% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CAN?
No. The price is what the market pays today ($0.1860); the fair value is what the company's own numbers justify ($0.3230). For Canaan Inc the two are $0.1370 per share apart. That gap is exactly why we show both numbers side by side.
How much is Canaan Inc worth?
The market values Canaan Inc at about $136M (market capitalisation, as of Nov 9, 2026). Per share that is $0.1860; our models calculate a fair value of $0.3230 per share.
What do the bullish and bearish scenarios say about CAN?
Our models span a range for Canaan Inc: cautious scenario $0.2125, base $0.3230, optimistic $0.3995 per share (as of Nov 9, 2026, price $0.1860). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Canaan Inc (CAN)?
Balance-sheet figures for Canaan Inc (as of Nov 9, 2026): return on equity −97.1%. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is CAN from its 52-week high?
Canaan Inc trades at $0.1860, about 84% below its 52-week high of $1.19 and 9% above the low of $0.1700 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.3230 is for.
Which stocks are comparable to Canaan Inc?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Canaan Inc stock attractive at the current price?
The data as of Nov 9, 2026: price $0.1860, calculated fair value $0.3230 (+74%), Quality Score 43/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CAN calculated?
We run Canaan Inc through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $0.3230 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Canaan Inc currently trades 42% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Canaan Inc (CAN)?
The closing price on Nov 6, 2026 was $0.1860. Our model-based fair value is $0.3230, about +74% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Canaan Inc right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.2125). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.2125 to $0.3995) leaves room in how you read the outcome.

Key figures of Canaan Inc

How large is the market capitalisation of Canaan Inc (CAN)?
The market capitalisation of Canaan Inc is $136M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Canaan Inc (CAN)?
The price-to-sales ratio of Canaan Inc is 0.38 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Canaan Inc (CAN)?
Earnings per share at Canaan Inc are $−0.4500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Canaan Inc (CAN)?
The net margin of Canaan Inc is −67.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Canaan Inc (CAN)?
The return on equity (ROE) of Canaan Inc is −97.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Canaan Inc (CAN)?
On an EBIT basis the return on assets of Canaan Inc is −22.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Canaan Inc (CAN)?
The operating margin of Canaan Inc is −192% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Canaan Inc (CAN)?
Revenue at Canaan Inc is growing −68.2% versus a year earlier (3y avg −50.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Canaan Inc (CAN)?
Earnings per share at Canaan Inc are growing −91.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Canaan Inc (CAN) generate?
The free cash flow of Canaan Inc is −$308M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Canaan Inc (CAN) hold?
Canaan Inc holds more cash than debt, $25.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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