Canaan Inc. balance sheet

At the end of fiscal 2025, Canaan Inc. had total assets of $603m, total liabilities of $166m and shareholders' equity of $437m. It held $80.8m in cash against $52.2m of debt: net cash of $28.5m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Canaan Inc.: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	74	60	421	—	96	96	81
Receivables	0	1	0	—	3	2	19
Inventory	28	35	127	212	142	95	181
Total current assets	135	154	828	556	364	334	433
Total assets	142	159	884	685	493	463	603
Accounts payable	14	6	23	17	6	14	26
Deferred revenue (current)	1	66	210	1	20	24	9
Total current liabilities	41	91	327	75	135	179	131
Short-term debt	14	5	—	—	—	17	29
Long-term debt	—	—	—	—	—	7	24
Total debt	14	5	0	0	0	24	52
Total liabilities	43	93	341	77	145	197	166
Shareholders' equity	100	66	542	608	348	266	437
Net debt (negative = net cash)	−60	−55	−421	—	−96	−73	−29
Shares outstanding	157m	155m	172m	166m	—	308m	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Canaan Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Canaan Inc.