Canaan vs 3d Systems
Canaan is the larger business, with $530m of revenue in fiscal 2025 against $387m for 3d Systems (1.4 times as much). Canaan grew faster (96.7% against -12.1%). 3d Systems kept more of each dollar of sales as profit: a net margin of 7.7% against -39.7%. Canaan carries less debt relative to equity (11.9% against 37.6%).
| Latest fiscal year | CanaanCAN, 2025 | 3d SystemsDDD, 2025 |
|---|---|---|
| Revenue | $530m | $387m |
| Revenue growth | 96.7% | -12.1% |
| Net income | −$210m | $29.9m |
| Operating margin | -21.2% | -24.8% |
| Net margin | -39.7% | 7.7% |
| Return on equity | -59.8% | 14.3% |
| Free cash flow | −$296m | −$97.8m |
| Cash | $80.8m | $95.6m |
| Total debt | $52.2m | $90.3m |
| Debt to equity | 11.9% | 37.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $5.0m | $15.0m |
| Employees | — | 1,418 |
| Market value | $92.9m | $408m |
| Price vs our value range | — | — |
| Moat score | — | 26 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 3 sales |