CANADIAN SOLAR INC (CSIQ)
CA1366351098 - Common Stock
Taking everything into account, CSIQ scores 4 out of 10 in our fundamental rating. CSIQ was compared to 107 industry peers in the Semiconductors & Semiconductor Equipment industry. There are concerns on the financial health of CSIQ while its profitability can be described as average. CSIQ scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
In the past year CSIQ was profitable.
CSIQ had positive earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: CSIQ reported negative operating cash flow in multiple years.
1.2 Ratios
With a Return On Assets value of 3.10%, CSIQ perfoms like the industry average, outperforming 54.72% of the companies in the same industry.
CSIQ has a Return On Equity of 14.17%. This is in the better half of the industry: CSIQ outperforms 73.58% of its industry peers.
With a decent Return On Invested Capital value of 6.97%, CSIQ is doing good in the industry, outperforming 66.04% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CSIQ is significantly below the industry average of 10.84%.
The 3 year average ROIC (4.07%) for CSIQ is below the current ROIC(6.97%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.1% | ||
| ROE | 14.17% | ||
| ROIC | 6.97% |
ROA(3y)2.08%
ROA(5y)2.33%
ROE(3y)9.45%
ROE(5y)10%
ROIC(3y)4.07%
ROIC(5y)4.28%
1.3 Margins
The Profit Margin of CSIQ (4.48%) is comparable to the rest of the industry.
CSIQ's Profit Margin has declined in the last couple of years.
CSIQ has a Operating Margin (7.47%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of CSIQ has declined.
Looking at the Gross Margin, with a value of 17.95%, CSIQ is doing worse than 83.02% of the companies in the same industry.
In the last couple of years the Gross Margin of CSIQ has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.47% | ||
| PM (TTM) | 4.48% | ||
| GM | 17.95% |
OM growth 3Y2.03%
OM growth 5Y-9.37%
PM growth 3Y-5.15%
PM growth 5Y-10.67%
GM growth 3Y-5.38%
GM growth 5Y-4.08%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CSIQ is still creating some value.
The number of shares outstanding for CSIQ has been increased compared to 1 year ago.
Compared to 5 years ago, CSIQ has more shares outstanding
CSIQ has a better debt/assets ratio than last year.
2.2 Solvency
CSIQ has an Altman-Z score of 1.21. This is a bad value and indicates that CSIQ is not financially healthy and even has some risk of bankruptcy.
CSIQ has a Altman-Z score of 1.21. This is in the lower half of the industry: CSIQ underperforms 70.75% of its industry peers.
CSIQ has a Debt/Equity ratio of 1.09. This is a high value indicating a heavy dependency on external financing.
CSIQ's Debt to Equity ratio of 1.09 is on the low side compared to the rest of the industry. CSIQ is outperformed by 81.13% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.09 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.21 |
ROIC/WACC1.12
WACC6.2%
2.3 Liquidity
CSIQ has a Current Ratio of 1.16. This is a normal value and indicates that CSIQ is financially healthy and should not expect problems in meeting its short term obligations.
CSIQ has a worse Current ratio (1.16) than 88.68% of its industry peers.
A Quick Ratio of 0.91 indicates that CSIQ may have some problems paying its short term obligations.
The Quick ratio of CSIQ (0.91) is worse than 83.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.91 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 100.40% over the past year.
Looking at the last year, CSIQ shows a quite strong growth in Revenue. The Revenue has grown by 12.21% in the last year.
CSIQ shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.25% yearly.
EPS 1Y (TTM)100.4%
EPS 3Y16.72%
EPS 5Y0%
EPS growth Q2Q-71.43%
Revenue 1Y (TTM)12.21%
Revenue growth 3Y29.86%
Revenue growth 5Y15.25%
Revenue growth Q2Q-4.46%
3.2 Future
Based on estimates for the next years, CSIQ will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.94% on average per year.
Based on estimates for the next years, CSIQ will show a quite strong growth in Revenue. The Revenue will grow by 9.64% on average per year.
EPS Next Y25.48%
EPS Next 2Y14.12%
EPS Next 3Y31.25%
EPS Next 5Y19.94%
Revenue Next Year10.93%
Revenue Next 2Y1.16%
Revenue Next 3Y10.82%
Revenue Next 5Y9.64%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 3.02, the valuation of CSIQ can be described as very cheap.
98.11% of the companies in the same industry are more expensive than CSIQ, based on the Price/Earnings ratio.
CSIQ is valuated cheaply when we compare the Price/Earnings ratio to 24.92, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 3.11 indicates a rather cheap valuation of CSIQ.
100.00% 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 (21.49), we can say CSIQ is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.02 | ||
| Fwd PE | 3.11 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
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.
A more expensive valuation may be justified as CSIQ's earnings are expected to grow with 31.25% in the coming years.
PEG (NY)0.12
PEG (5Y)N/A
EPS Next 2Y14.12%
EPS Next 3Y31.25%
5. Dividend
5.1 Amount
No dividends for CSIQ!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
CANADIAN SOLAR INC
NASDAQ:CSIQ (4/26/2024, 7:00:00 PM)
After market: 15.2 +0.05 (+0.33%)15.15
+0.65 (+4.48%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap979.45M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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EPS beat(16)
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.02 | ||
| Fwd PE | 3.11 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)0.12
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.1% | ||
| ROE | 14.17% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 7.47% | ||
| PM (TTM) | 4.48% | ||
| GM | 17.95% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.69
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.09 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.91 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)100.4%
EPS 3Y16.72%
EPS 5Y
EPS growth Q2Q
EPS Next Y25.48%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)12.21%
Revenue growth 3Y29.86%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
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OCF growth 5Y