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CANADIAN SOLAR INC (CSIQ) Stock Fundamental Analysis

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

9.55  +0.1 (+1.06%)

After market: 9.44 -0.11 (-1.15%)

Fundamental Rating

2

Overall CSIQ gets a fundamental rating of 2 out of 10. We evaluated CSIQ against 110 industry peers in the Semiconductors & Semiconductor Equipment industry. CSIQ may be in some trouble as it scores bad on both profitability and health. CSIQ is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year CSIQ has reported negative net income.
In the past year CSIQ has reported a negative cash flow from operations.
In the past 5 years CSIQ has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: CSIQ reported negative operating cash flow in multiple 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

CSIQ has a Return On Assets (0.27%) which is in line with its industry peers.
CSIQ has a Return On Equity (1.28%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA 0.27%
ROE 1.28%
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

CSIQ has a Profit Margin (0.60%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of CSIQ has declined.
CSIQ has a worse Gross Margin (16.67%) than 80.73% of its industry peers.
CSIQ's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM N/A
PM (TTM) 0.6%
GM 16.67%
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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1

2. Health

2.1 Basic Checks

CSIQ does not have a ROIC to compare to the WACC, probably because it is not profitable.
CSIQ has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, CSIQ has more shares outstanding
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 0.66. This is a bad value and indicates that CSIQ is not financially healthy and even has some risk of bankruptcy.
CSIQ's Altman-Z score of 0.66 is on the low side compared to the rest of the industry. CSIQ is outperformed by 74.31% of its industry peers.
CSIQ has a Debt/Equity ratio of 1.24. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of CSIQ (1.24) is worse than 89.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.24
Debt/FCF N/A
Altman-Z 0.66
ROIC/WACCN/A
WACC5.42%
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

2.3 Liquidity

A Current Ratio of 1.04 indicates that CSIQ should not have too much problems paying its short term obligations.
CSIQ has a worse Current ratio (1.04) than 90.83% of its industry peers.
CSIQ has a Quick Ratio of 1.04. This is a bad value and indicates that CSIQ is not financially healthy enough and could expect problems in meeting its short term obligations.
CSIQ's Quick ratio of 0.83 is on the low side compared to the rest of the industry. CSIQ is outperformed by 90.83% of its industry peers.
Industry RankSector Rank
Current Ratio 1.04
Quick Ratio 0.83
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 -137.11% in the last year.
CSIQ shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -28.29% yearly.
CSIQ shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -21.28%.
The Revenue has been growing by 13.37% on average over the past years. This is quite good.
EPS 1Y (TTM)-137.11%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-7250%
Revenue 1Y (TTM)-21.28%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%-10.62%

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
Based on estimates for the next years, CSIQ will show a quite strong growth in Revenue. The Revenue will grow by 11.75% on average per year.
EPS Next Y94.5%
EPS Next 2Y85.09%
EPS Next 3Y60.53%
EPS Next 5Y52.21%
Revenue Next Year18.49%
Revenue Next 2Y17.52%
Revenue Next 3Y14.6%
Revenue Next 5Y11.75%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same 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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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CSIQ. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for CSIQ. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
CSIQ Price Earnings VS Forward Price EarningsCSIQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50 -100

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
CSIQ Per share dataCSIQ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 60 80

4.3 Compensation for Growth

A more expensive valuation may be justified as CSIQ's earnings are expected to grow with 60.53% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y85.09%
EPS Next 3Y60.53%

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0

5. Dividend

5.1 Amount

No dividends for CSIQ!.
Industry RankSector Rank
Dividend Yield N/A

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CANADIAN SOLAR INC

NASDAQ:CSIQ (5/2/2025, 8:00:01 PM)

After market: 9.44 -0.11 (-1.15%)

9.55

+0.1 (+1.06%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)03-25 2025-03-25/bmo
Earnings (Next)05-15 2025-05-15
Inst Owners52.51%
Inst Owner Change-0.25%
Ins Owners21.2%
Ins Owner ChangeN/A
Market Cap631.92M
Analysts71.76
Price Target15.79 (65.34%)
Short Float %26.1%
Short Ratio5.2
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)0
Avg EPS beat(2)-706.83%
Min EPS beat(2)-1389.64%
Max EPS beat(2)-24.03%
EPS beat(4)1
Avg EPS beat(4)-21.27%
Min EPS beat(4)-1389.64%
Max EPS beat(4)1390.88%
EPS beat(8)3
Avg EPS beat(8)-23.43%
EPS beat(12)7
Avg EPS beat(12)23.55%
EPS beat(16)9
Avg EPS beat(16)31.51%
Revenue beat(2)0
Avg Revenue beat(2)-9.38%
Min Revenue beat(2)-13.65%
Max Revenue beat(2)-5.1%
Revenue beat(4)2
Avg Revenue beat(4)-4.11%
Min Revenue beat(4)-13.65%
Max Revenue beat(4)1.23%
Revenue beat(8)2
Avg Revenue beat(8)-4.64%
Revenue beat(12)4
Avg Revenue beat(12)-4.18%
Revenue beat(16)5
Avg Revenue beat(16)-4.14%
PT rev (1m)-4.23%
PT rev (3m)-8.84%
EPS NQ rev (1m)-214.07%
EPS NQ rev (3m)-2522.22%
EPS NY rev (1m)53.49%
EPS NY rev (3m)-104.78%
Revenue NQ rev (1m)-14.35%
Revenue NQ rev (3m)-32.78%
Revenue NY rev (1m)-1.42%
Revenue NY rev (3m)-0.27%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.11
P/FCF N/A
P/OCF N/A
P/B 0.22
P/tB 0.23
EV/EBITDA N/A
EPS(TTM)-1.44
EYN/A
EPS(NY)-0.08
Fwd EYN/A
FCF(TTM)-41.55
FCFYN/A
OCF(TTM)-13.38
OCFYN/A
SpS90.58
BVpS42.55
TBVpS42.08
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.27%
ROE 1.28%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 0.6%
GM 16.67%
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-Score2
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 1.24
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 31.1%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.04
Quick Ratio 0.83
Altman-Z 0.66
F-Score2
WACC5.42%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)19.85%
Cap/Sales(5y)15.46%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-137.11%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-7250%
EPS Next Y94.5%
EPS Next 2Y85.09%
EPS Next 3Y60.53%
EPS Next 5Y52.21%
Revenue 1Y (TTM)-21.28%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%-10.62%
Revenue Next Year18.49%
Revenue Next 2Y17.52%
Revenue Next 3Y14.6%
Revenue Next 5Y11.75%
EBIT growth 1Y-106.64%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year351.16%
EBIT Next 3Y122.38%
EBIT Next 5Y70.66%
FCF growth 1Y-226.94%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-229.32%
OCF growth 3YN/A
OCF growth 5YN/A