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Side-by-side financial comparison of Canaan Inc. (CAN) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
Forward Industries, Inc. is the larger business by last-quarter revenue ($21.4M vs $20.8M, roughly 1.0× Canaan Inc.). Canaan Inc. runs the higher net margin — -18.4% vs -2732.2%, a 2713.8% gap on every dollar of revenue.
Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
CAN vs FWDI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $20.8M | $21.4M |
| Net Profit | $-3.8M | $-585.7M |
| Gross Margin | 99.9% | 78.6% |
| Operating Margin | -15.9% | -2722.8% |
| Net Margin | -18.4% | -2732.2% |
| Revenue YoY | — | 224.0% |
| Net Profit YoY | — | -82611.5% |
| EPS (diluted) | $-0.05 | $-5.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $20.8M | $21.4M | ||
| Q3 25 | $13.8M | $7.9M | ||
| Q2 25 | $11.4M | $2.5M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | $10.2M | — | ||
| Q2 24 | $4.8M | $7.8M | ||
| Q1 24 | — | $5.1M |
| Q4 25 | $-3.8M | $-585.7M | ||
| Q3 25 | $-1.5M | $-164.0M | ||
| Q2 25 | $-11.9M | $-850.0K | ||
| Q1 25 | — | $-1.5M | ||
| Q4 24 | — | $-708.1K | ||
| Q3 24 | $-10.4M | — | ||
| Q2 24 | $-5.4M | $-399.6K | ||
| Q1 24 | — | $-553.2K |
| Q4 25 | 99.9% | 78.6% | ||
| Q3 25 | 99.9% | 61.1% | ||
| Q2 25 | 99.9% | — | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.8% | 16.8% | ||
| Q1 24 | — | 26.2% |
| Q4 25 | -15.9% | -2722.8% | ||
| Q3 25 | -27.0% | -39.2% | ||
| Q2 25 | -45.5% | -102.6% | ||
| Q1 25 | — | -58.3% | ||
| Q4 24 | — | -13.6% | ||
| Q3 24 | -77.2% | — | ||
| Q2 24 | -193.9% | -5.9% | ||
| Q1 24 | — | -12.2% |
| Q4 25 | -18.4% | -2732.2% | ||
| Q3 25 | -11.0% | -2063.6% | ||
| Q2 25 | -104.4% | -34.1% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | -102.7% | — | ||
| Q2 24 | -112.3% | -5.1% | ||
| Q1 24 | — | -10.9% |
| Q4 25 | $-0.05 | $-5.91 | ||
| Q3 25 | $-0.02 | $-21.86 | ||
| Q2 25 | $-0.25 | $-0.77 | ||
| Q1 25 | — | $-1.32 | ||
| Q4 24 | — | $-0.64 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-0.36 | ||
| Q1 24 | — | $-0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $6.2M | — |
| Stockholders' EquityBook value | $52.4M | $880.9M |
| Total Assets | $92.5M | $892.9M |
| Debt / EquityLower = less leverage | 0.12× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.2M | — | ||
| Q3 25 | $6.2M | — | ||
| Q2 25 | $6.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $52.4M | $880.9M | ||
| Q3 25 | $44.7M | $1.5B | ||
| Q2 25 | $33.8M | $3.4M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | $43.6M | — | ||
| Q2 24 | $56.8M | $1.4M | ||
| Q1 24 | — | $1.8M |
| Q4 25 | $92.5M | $892.9M | ||
| Q3 25 | $81.7M | $1.5B | ||
| Q2 25 | $78.0M | $8.3M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $69.3M | — | ||
| Q2 24 | $73.7M | $15.2M | ||
| Q1 24 | — | $15.2M |
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-7.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.9M | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-537.6K | ||
| Q4 24 | — | $-434.3K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $436.0K | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-539.0K | ||
| Q4 24 | — | $-439.7K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $426.8K | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.0% | ||
| Q2 25 | — | -50.0% | ||
| Q1 25 | — | -17.3% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAN
Segment breakdown not available.
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
