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Side-by-side financial comparison of Canaan Inc. (CAN) and IT TECH PACKAGING, INC. (ITP). Click either name above to swap in a different company.
IT TECH PACKAGING, INC. is the larger business by last-quarter revenue ($25.6M vs $20.8M, roughly 1.2× Canaan Inc.). IT TECH PACKAGING, INC. runs the higher net margin — -5.7% vs -18.4%, a 12.8% 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.
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
CAN vs ITP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.8M | $25.6M |
| Net Profit | $-3.8M | $-1.4M |
| Gross Margin | 99.9% | 7.9% |
| Operating Margin | -15.9% | -3.9% |
| Net Margin | -18.4% | -5.7% |
| Revenue YoY | — | 2.1% |
| Net Profit YoY | — | 26.6% |
| EPS (diluted) | $-0.05 | $-0.11 |
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 | — | ||
| Q3 25 | $13.8M | $25.6M | ||
| Q2 25 | $11.4M | $24.8M | ||
| Q1 25 | — | $10.9M | ||
| Q4 24 | — | $17.6M | ||
| Q3 24 | $10.2M | $25.1M | ||
| Q2 24 | $4.8M | $26.2M | ||
| Q1 24 | — | $6.9M |
| Q4 25 | $-3.8M | — | ||
| Q3 25 | $-1.5M | $-1.4M | ||
| Q2 25 | $-11.9M | $-2.0M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $-4.0M | ||
| Q3 24 | $-10.4M | $-2.0M | ||
| Q2 24 | $-5.4M | $-77.7K | ||
| Q1 24 | — | $-3.7M |
| Q4 25 | 99.9% | — | ||
| Q3 25 | 99.9% | 7.9% | ||
| Q2 25 | 99.9% | 5.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | 99.9% | 7.6% | ||
| Q2 24 | 99.8% | 12.4% | ||
| Q1 24 | — | 5.8% |
| Q4 25 | -15.9% | — | ||
| Q3 25 | -27.0% | -3.9% | ||
| Q2 25 | -45.5% | -7.1% | ||
| Q1 25 | — | -31.0% | ||
| Q4 24 | — | -21.5% | ||
| Q3 24 | -77.2% | -5.8% | ||
| Q2 24 | -193.9% | 2.1% | ||
| Q1 24 | — | -51.0% |
| Q4 25 | -18.4% | — | ||
| Q3 25 | -11.0% | -5.7% | ||
| Q2 25 | -104.4% | -7.9% | ||
| Q1 25 | — | -32.2% | ||
| Q4 24 | — | -22.9% | ||
| Q3 24 | -102.7% | -7.9% | ||
| Q2 24 | -112.3% | -0.3% | ||
| Q1 24 | — | -54.6% |
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.02 | $-0.11 | ||
| Q2 25 | $-0.25 | $-0.16 | ||
| Q1 25 | — | $-0.35 | ||
| Q4 24 | — | $-0.40 | ||
| Q3 24 | — | $-0.20 | ||
| Q2 24 | — | $-0.01 | ||
| Q1 24 | — | $-0.37 |
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 | $4.7M |
| Stockholders' EquityBook value | $52.4M | $152.0M |
| Total Assets | $92.5M | $175.7M |
| Debt / EquityLower = less leverage | 0.12× | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.2M | — | ||
| Q3 25 | $6.2M | $4.7M | ||
| Q2 25 | $6.2M | $4.7M | ||
| Q1 25 | — | $4.7M | ||
| Q4 24 | — | $4.7M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | — | $11.3M | ||
| Q1 24 | — | $11.4M |
| Q4 25 | $52.4M | — | ||
| Q3 25 | $44.7M | $152.0M | ||
| Q2 25 | $33.8M | $152.3M | ||
| Q1 25 | — | $152.8M | ||
| Q4 24 | — | $156.1M | ||
| Q3 24 | $43.6M | $164.3M | ||
| Q2 24 | $56.8M | $163.5M | ||
| Q1 24 | — | $164.3M |
| Q4 25 | $92.5M | — | ||
| Q3 25 | $81.7M | $175.7M | ||
| Q2 25 | $78.0M | $175.2M | ||
| Q1 25 | — | $175.2M | ||
| Q4 24 | — | $177.5M | ||
| Q3 24 | $69.3M | $190.0M | ||
| Q2 24 | $73.7M | $191.4M | ||
| Q1 24 | — | $177.5M |
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.14× | 0.03× | ||
| Q2 25 | 0.18× | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.07× |
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 | — | $1.5M |
| Free Cash FlowOCF − Capex | — | $1.5M |
| FCF MarginFCF / Revenue | — | 5.9% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | $-2.5M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | $721.9K | ||
| Q1 24 | — | $624.4K |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $-2.5M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | — | $668.3K | ||
| Q1 24 | — | $615.4K |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 9.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
