CANADIAN SOLAR INC (CSIQ)
CA1366351098 - Common Stock
We assign a fundamental rating of 3 out of 10 to CSIQ. CSIQ was compared to 108 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and financial health of CSIQ have multiple concerns. CSIQ has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year CSIQ was profitable.
In the past year CSIQ has reported a negative cash flow from operations.
CSIQ had positive earnings in 4 of the past 5 years.
In multiple years CSIQ reported negative operating cash flow during the last 5 years.
1.2 Ratios
The Return On Assets of CSIQ (0.30%) is comparable to the rest of the industry.
CSIQ has a Return On Equity (1.38%) which is in line with its industry peers.
Looking at the Return On Invested Capital, with a value of 2.03%, CSIQ is in line with its industry, outperforming 51.85% 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 11.05%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.3% | ||
| ROE | 1.38% | ||
| ROIC | 2.03% |
ROA(3y)2.08%
ROA(5y)2.33%
ROE(3y)9.45%
ROE(5y)10%
ROIC(3y)3.73%
ROIC(5y)4.08%
1.3 Margins
CSIQ's Profit Margin of 0.56% is in line compared to the rest of the industry. CSIQ outperforms 46.30% of its industry peers.
CSIQ's Profit Margin has declined in the last couple of years.
CSIQ has a Operating Margin (2.77%) which is in line with its industry peers.
CSIQ's Operating Margin has declined in the last couple of years.
CSIQ has a worse Gross Margin (16.22%) than 82.41% of its industry peers.
CSIQ's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 2.77% | ||
| PM (TTM) | 0.56% | ||
| GM | 16.22% |
OM growth 3Y-4.74%
OM growth 5Y-13.03%
PM growth 3Y-5.15%
PM growth 5Y-10.67%
GM growth 3Y-5.38%
GM growth 5Y-4.07%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CSIQ is destroying value.
CSIQ has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
Based on the Altman-Z score of 0.83, we must say that CSIQ is in the distress zone and has some risk of bankruptcy.
CSIQ's Altman-Z score of 0.83 is on the low side compared to the rest of the industry. CSIQ is outperformed by 71.30% of its industry peers.
CSIQ has a Debt/Equity ratio of 1.04. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.04, CSIQ is not doing good in the industry: 86.11% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.04 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.83 |
ROIC/WACC0.48
WACC4.22%
2.3 Liquidity
A Current Ratio of 1.04 indicates that CSIQ should not have too much problems paying its short term obligations.
With a Current ratio value of 1.04, CSIQ is not doing good in the industry: 88.89% of the companies in the same industry are doing better.
A Quick Ratio of 0.82 indicates that CSIQ may have some problems paying its short term obligations.
With a Quick ratio value of 0.82, CSIQ is not doing good in the industry: 85.19% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.82 |
3. Growth
3.1 Past
The earnings per share for CSIQ have decreased strongly by -90.71% in the last year.
The Revenue for CSIQ has decreased by -18.28% in the past year. This is quite bad
The Revenue has been growing by 15.25% on average over the past years. This is quite good.
EPS 1Y (TTM)-90.71%
EPS 3Y16.72%
EPS 5Y0%
EPS Q2Q%-97.91%
Revenue 1Y (TTM)-18.28%
Revenue growth 3Y29.86%
Revenue growth 5Y15.25%
Sales Q2Q%-30.82%
3.2 Future
Based on estimates for the next years, CSIQ will show a very strong growth in Earnings Per Share. The EPS will grow by 23.07% on average per year.
The Revenue is expected to grow by 11.61% on average over the next years. This is quite good.
EPS Next Y-59.34%
EPS Next 2Y-12.76%
EPS Next 3Y9.58%
EPS Next 5Y23.07%
Revenue Next Year-10.21%
Revenue Next 2Y2.98%
Revenue Next 3Y5.62%
Revenue Next 5Y11.61%
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 estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 21.17, the valuation of CSIQ can be described as rather expensive.
Based on the Price/Earnings ratio, CSIQ is valued a bit cheaper than the industry average as 78.70% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of CSIQ to the average of the S&P500 Index (28.96), we can say CSIQ is valued slightly cheaper.
CSIQ is valuated cheaply with a Price/Forward Earnings ratio of 3.87.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CSIQ indicates a rather cheap valuation: CSIQ is cheaper than 100.00% of the companies listed in the same industry.
CSIQ is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.82, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.17 | ||
| Fwd PE | 3.87 |
4.2 Price Multiples
CSIQ's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CSIQ is cheaper than 94.44% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 6.49 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-12.76%
EPS Next 3Y9.58%
5. Dividend
5.1 Amount
CSIQ does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
CANADIAN SOLAR INC
NASDAQ:CSIQ (11/22/2024, 10:40:00 AM)
11.43
+0.13 (+1.15%)
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 Cap756.32M
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)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.17 | ||
| Fwd PE | 3.87 | ||
| 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)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.3% | ||
| ROE | 1.38% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 2.77% | ||
| PM (TTM) | 0.56% | ||
| GM | 16.22% | ||
| 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 Turnover0.54
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.04 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.82 | ||
| 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)
High Growth Momentum
Growth
EPS 1Y (TTM)-90.71%
EPS 3Y16.72%
EPS 5Y
EPS Q2Q%
EPS Next Y-59.34%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-18.28%
Revenue growth 3Y29.86%
Revenue growth 5Y
Sales 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
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y