Company Valuation: Canaan Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 5,586 2,411 2,802 4,747 2,073 -
Change - -56.84% 16.2% 69.43% -56.33% -
Enterprise Value (EV) 5,586 2,411 2,802 4,747 2,073 2,073
Change - -56.84% 16.2% 69.43% -56.33% 0%
P/E ratio 41.8x 55.7x -0.94x -2.24x -4.31x 2.03x
PBR - - - - - -
PEG - -0.8x 0x 0x 0.1x -0x
Capitalization / Revenue - 0.55x 1.84x 2.43x 0.55x 0.34x
EV / Revenue - 0x 0x 0x 0.55x 0.34x
EV / EBITDA - 0x - -0x -3.28x 2.38x
EV / EBIT - 0x -0x -0x -3.96x 2.88x
EV / FCF - -0x - -0x 5.96x 2.89x
FCF Yield - -74.3% - -33.6% 16.8% 34.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.782 0.2553 -17.35 -6.678 -1.046 2.22
Distribution rate - - - - - -
Net sales 1 - 4,379 1,522 1,955 3,761 6,168
EBITDA 1 - 531.1 - -518.9 -631.9 871
EBIT 1 - 557.8 -2,957 -1,649 -524 719.6
Net income 1 2,000 658.2 -2,981 -1,813 -753.1 769.9
Net Debt - - - - - -
Reference price 2 32.716 14.208 16.380 14.963 4.503 4.503
Nbr of stocks (in thousands) 170,748 169,701 171,046 317,253 460,361 -
Announcement Date 3/3/22 3/7/23 2/27/24 3/26/25 - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-4.31x - - - 288M
54.3x9.2x22.42x-.--% 75.21B
8.74x8.77x40.24x-.--% 3.54B
82.58x4.69x9.45x-.--% 2.37B
12.64x - - - 870M
12.6x - - - 362M
20.84x - - - 265M
Average 26.77x 7.55x 24.04x 0% 11.84B
Weighted average by Cap. 52.24x 9.05x 22.82x 0%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Canaan Inc.