What is Canaan Inc. (CAN)'s fair-value range?

EvidInvest reads Canaan Inc. (CAN)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/CAN.

How is Canaan Inc. (CAN)'s fair value calculated?

Canaan Inc. (CAN)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples such as PE and EV/EBITDA — using data from SEC filings. P/B is optional for non-financial companies and included in the preset range for financial sectors.

Which filing are Canaan Inc. (CAN)'s valuation inputs based on?

Inputs come from the FY2025 20-F filed 2026-04-15 (accession 0001104659-26-043786). Source: https://www.sec.gov/Archives/edgar/data/1780652/000110465926043786/

Fair value · Canaan Inc. (CAN) · updated 2026-10-29 · from 20-F FY2025

Canaan trades at $0.22. We are not reading assumptions out of that price: this is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Name: Canaan Inc. (CAN) valuation inputs and fair-value methods
Creator: EvidInvest
License: https://evidinvest.com/subscription-terms

Everything below is unaffected: the filed statements, the filing they came from, and CAN’s growth history are all as reported.

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Inputs come from the FY2025 20-F filed 2026-04-15 (accession 0001104659-26-043786); set your own on the sliders below. Research, not investment advice.

The filing behind these numbers

Canaan Inc.

Revenue: $529.7M
Diluted EPS: $-2.99
Free cash flow: $-295.8M; operating cash flow − capital expenditure
Diluted shares: 7.04B; weighted average

20-F FY2025 · fiscal year ended 2025-12-31 · filed 2026-04-15 · accession 0001104659-26-043786

Open this filing on sec.gov

Valuation tool: build your own CAN range

Fair Value Summary

Daily Price — CAN

$0.23 -84.3% (1Y)

Your range0 of 8 methods

At least two methods need a usable value to draw a range with these inputs.

Range with preset inputs

No preset range for this company yet.

The two ranges are identical because every input sits on a preset.

We don’t tell you what CAN is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has CAN’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

N/A

This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Preset inputs — revenue-driven DCF from the latest filing

Implied by today’s price

This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Not solvable from the price — This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify. Showing preset inputs.

This method has no key input to read out of the price. The others below do, and you set them yourself: the growth matrix shows what CAN has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%60.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)18.16%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%27.30%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $-1,599M · PV terminal $-527M · EV $-2,127M · equity $-2,101M

Year	Stage	FCF	Present value
1	Stage 1	$-311M	$-263M
2	Stage 1	$-326M	$-234M
3	Stage 1	$-343M	$-208M
4	Stage 1	$-360M	$-185M
5	Stage 1	$-378M	$-164M
6	Stage 2	$-387M	$-142M
7	Stage 2	$-397M	$-123M
8	Stage 2	$-407M	$-107M
9	Stage 2	$-417M	$-93M
10	Stage 2	$-427M	$-81M

Inputs from the filing

Free cash flow: $-295.8M; latest full year
EBIT: $-112.2M; latest annual
Shares: 691.4M
Total debt: $54.9M
Cash: $80.8M
Net debt: $-25.9M; debt − cash

20-F FY2025 · period ended 2025-12-31 · filed 2026-04-15 · accession 0001104659-26-043786 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for CAN

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Canaan trades at $0.22. We are not reading assumptions out of that price: this is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

The filing behind these numbers

Valuation tool: build your own CAN range

Daily Price — CAN

Your range0 of 8 methods

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Your inputs

Year by year (two-stage model, $M)

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Valuation tool: build your own CAN range

Daily Price — CAN

Your range0 of 8 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on CAN

Compare with peers

Explore