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CANADIAN SOLAR INC (CSIQ) Stock Fundamental Analysis

NASDAQ:CSIQ - Nasdaq - CA1366351098 - Common Stock - Currency: USD

10.6  +0.27 (+2.61%)

Fundamental Rating

2

CSIQ gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 110 industry peers in the Semiconductors & Semiconductor Equipment industry. CSIQ has a bad profitability rating. Also its financial health evaluation is rather negative. CSIQ has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

CSIQ had negative earnings in the past year.
CSIQ had a negative operating cash flow in the past year.
Each year in the past 5 years CSIQ has been profitable.
In multiple years CSIQ reported negative operating cash flow during the last 5 years.
CSIQ Yearly Net Income VS EBIT VS OCF VS FCFCSIQ Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B

1.2 Ratios

The Return On Assets of CSIQ (-0.07%) is comparable to the rest of the industry.
CSIQ has a Return On Equity of -0.37%. This is comparable to the rest of the industry: CSIQ outperforms 41.82% of its industry peers.
Industry RankSector Rank
ROA -0.07%
ROE -0.37%
ROIC N/A
ROA(3y)1.74%
ROA(5y)1.75%
ROE(3y)8.12%
ROE(5y)7.8%
ROIC(3y)N/A
ROIC(5y)N/A
CSIQ Yearly ROA, ROE, ROICCSIQ Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20

1.3 Margins

In the last couple of years the Profit Margin of CSIQ has declined.
CSIQ has a Gross Margin of 15.14%. This is amonst the worse of the industry: CSIQ underperforms 86.36% of its industry peers.
In the last couple of years the Gross Margin of CSIQ has declined.
CSIQ does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 15.14%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-30.67%
PM growth 5Y-35.43%
GM growth 3Y-1.09%
GM growth 5Y-5.77%
CSIQ Yearly Profit, Operating, Gross MarginsCSIQ Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20

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0

2. Health

2.1 Basic Checks

CSIQ does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, CSIQ has more shares outstanding
The number of shares outstanding for CSIQ has been increased compared to 5 years ago.
The debt/assets ratio for CSIQ is higher compared to a year ago.
CSIQ Yearly Shares OutstandingCSIQ Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
CSIQ Yearly Total Debt VS Total AssetsCSIQ Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

CSIQ has an Altman-Z score of 0.62. This is a bad value and indicates that CSIQ is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.62, CSIQ is doing worse than 71.82% of the companies in the same industry.
A Debt/Equity ratio of 1.37 is on the high side and indicates that CSIQ has dependencies on debt financing.
CSIQ has a worse Debt to Equity ratio (1.37) than 90.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Altman-Z 0.62
ROIC/WACCN/A
WACC3.69%
CSIQ Yearly LT Debt VS Equity VS FCFCSIQ Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B 3B

2.3 Liquidity

CSIQ has a Current Ratio of 1.07. This is a normal value and indicates that CSIQ is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of CSIQ (1.07) is worse than 91.82% of its industry peers.
A Quick Ratio of 0.80 indicates that CSIQ may have some problems paying its short term obligations.
The Quick ratio of CSIQ (0.80) is worse than 92.73% of its industry peers.
Industry RankSector Rank
Current Ratio 1.07
Quick Ratio 0.8
CSIQ Yearly Current Assets VS Current LiabilitesCSIQ Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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5

3. Growth

3.1 Past

The earnings per share for CSIQ have decreased strongly by -193.75% in the last year.
The earnings per share for CSIQ have been decreasing by -28.29% on average. This is quite bad
CSIQ shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -19.06%.
The Revenue has been growing by 13.37% on average over the past years. This is quite good.
EPS 1Y (TTM)-193.75%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-663.16%
Revenue 1Y (TTM)-19.06%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%-9.97%

3.2 Future

The Earnings Per Share is expected to grow by 52.21% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 8.99% on average over the next years. This is quite good.
EPS Next Y82.1%
EPS Next 2Y75.23%
EPS Next 3Y60.53%
EPS Next 5Y52.21%
Revenue Next Year1.77%
Revenue Next 2Y9.56%
Revenue Next 3Y9.1%
Revenue Next 5Y8.99%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CSIQ Yearly Revenue VS EstimatesCSIQ Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2B 4B 6B 8B 10B
CSIQ Yearly EPS VS EstimatesCSIQ Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0 2 4 6 8

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5

4. Valuation

4.1 Price/Earnings Ratio

CSIQ reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
The Price/Forward Earnings ratio is 6.88, which indicates a rather cheap valuation of CSIQ.
99.09% of the companies in the same industry are more expensive than CSIQ, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of CSIQ to the average of the S&P500 Index (22.19), we can say CSIQ is valued rather cheaply.
Industry RankSector Rank
PE N/A
Fwd PE 6.88
CSIQ Price Earnings VS Forward Price EarningsCSIQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CSIQ indicates a somewhat cheap valuation: CSIQ is cheaper than 79.09% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.8
CSIQ Per share dataCSIQ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 60 80

4.3 Compensation for Growth

CSIQ's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CSIQ's earnings are expected to grow with 60.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y75.23%
EPS Next 3Y60.53%

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0

5. Dividend

5.1 Amount

CSIQ does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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CANADIAN SOLAR INC

NASDAQ:CSIQ (6/18/2025, 8:00:00 PM)

10.6

+0.27 (+2.61%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)05-15 2025-05-15/bmo
Earnings (Next)08-20 2025-08-20
Inst Owners48.83%
Inst Owner Change-1.98%
Ins Owners21.18%
Ins Owner ChangeN/A
Market Cap709.88M
Analysts71.76
Price Target13.48 (27.17%)
Short Float %18.77%
Short Ratio4.42
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-692.5%
Min EPS beat(2)-1389.64%
Max EPS beat(2)4.63%
EPS beat(4)1
Avg EPS beat(4)-367.83%
Min EPS beat(4)-1389.64%
Max EPS beat(4)4.63%
EPS beat(8)3
Avg EPS beat(8)-34.38%
EPS beat(12)7
Avg EPS beat(12)6.9%
EPS beat(16)10
Avg EPS beat(16)32.65%
Revenue beat(2)1
Avg Revenue beat(2)0.97%
Min Revenue beat(2)-5.1%
Max Revenue beat(2)7.03%
Revenue beat(4)2
Avg Revenue beat(4)-2.66%
Min Revenue beat(4)-13.65%
Max Revenue beat(4)7.03%
Revenue beat(8)3
Avg Revenue beat(8)-3.47%
Revenue beat(12)5
Avg Revenue beat(12)-3.06%
Revenue beat(16)5
Avg Revenue beat(16)-3.78%
PT rev (1m)-8.71%
PT rev (3m)-18.22%
EPS NQ rev (1m)642.38%
EPS NQ rev (3m)441.57%
EPS NY rev (1m)0%
EPS NY rev (3m)-51.3%
Revenue NQ rev (1m)9.12%
Revenue NQ rev (3m)2.79%
Revenue NY rev (1m)-14.61%
Revenue NY rev (3m)-15.33%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 6.88
P/S 0.12
P/FCF N/A
P/OCF N/A
P/B 0.26
P/tB 0.26
EV/EBITDA 12.8
EPS(TTM)-2.7
EYN/A
EPS(NY)1.54
Fwd EY14.54%
FCF(TTM)-39.92
FCFYN/A
OCF(TTM)-12.81
OCFYN/A
SpS87.52
BVpS41.35
TBVpS40.86
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.07%
ROE -0.37%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 15.14%
FCFM N/A
ROA(3y)1.74%
ROA(5y)1.75%
ROE(3y)8.12%
ROE(5y)7.8%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-30.67%
PM growth 5Y-35.43%
GM growth 3Y-1.09%
GM growth 5Y-5.77%
F-Score1
Asset Turnover0.42
Health
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Debt/EBITDA 10.33
Cap/Depr 362.09%
Cap/Sales 30.98%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.07
Quick Ratio 0.8
Altman-Z 0.62
F-Score1
WACC3.69%
ROIC/WACCN/A
Cap/Depr(3y)379.19%
Cap/Depr(5y)289.93%
Cap/Sales(3y)19.88%
Cap/Sales(5y)15.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-193.75%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-663.16%
EPS Next Y82.1%
EPS Next 2Y75.23%
EPS Next 3Y60.53%
EPS Next 5Y52.21%
Revenue 1Y (TTM)-19.06%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%-9.97%
Revenue Next Year1.77%
Revenue Next 2Y9.56%
Revenue Next 3Y9.1%
Revenue Next 5Y8.99%
EBIT growth 1Y-137.55%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year436.59%
EBIT Next 3Y96.51%
EBIT Next 5Y67.37%
FCF growth 1Y-227.73%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-229.32%
OCF growth 3YN/A
OCF growth 5YN/A