We assign a fundamental rating of 2 out of 10 to CSIQ. CSIQ was compared to 113 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and financial health of CSIQ have multiple concerns. CSIQ is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

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.

1.2 Ratios

CSIQ has a Return On Assets of 0.11%. This is comparable to the rest of the industry: CSIQ outperforms 51.33% of its industry peers.
The Return On Equity of CSIQ (0.56%) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
ROA	0.11%
ROE	0.56%
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

1.3 Margins

The Profit Margin of CSIQ (0.27%) is comparable to the rest of the industry.
CSIQ's Profit Margin has declined in the last couple of years.
CSIQ's Gross Margin of 18.97% is on the low side compared to the rest of the industry. CSIQ is outperformed by 81.42% of its industry peers.
In the last couple of years the Gross Margin of CSIQ has declined.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	0.27%
GM	18.97%

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%

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ROA

ROE

ROIC

Operating and Profit Margin

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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
CSIQ has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, CSIQ has a worse debt to assets ratio.

2.2 Solvency

Based on the Altman-Z score of 0.63, we must say that CSIQ is in the distress zone and has some risk of bankruptcy.
CSIQ's Altman-Z score of 0.63 is on the low side compared to the rest of the industry. CSIQ is outperformed by 73.45% of its industry peers.
A Debt/Equity ratio of 1.60 is on the high side and indicates that CSIQ has dependencies on debt financing.
The Debt to Equity ratio of CSIQ (1.60) is worse than 89.38% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	1.6
Debt/FCF	N/A
Altman-Z	0.63

ROIC/WACCN/A

WACC4.97%

2.3 Liquidity

A Current Ratio of 1.07 indicates that CSIQ should not have too much problems paying its short term obligations.
CSIQ has a worse Current ratio (1.07) than 90.27% of its industry peers.
CSIQ has a Quick Ratio of 1.07. 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 has a worse Quick ratio (0.86) than 89.38% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.07
Quick Ratio	0.86

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

CSIQ shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27000.00%.
The earnings per share for CSIQ have been decreasing by -28.29% on average. This is quite bad
CSIQ shows a decrease in Revenue. In the last year, the revenue decreased by -4.46%.
CSIQ shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.37% yearly.

EPS 1Y (TTM)-27000%

EPS 3Y-26.92%

EPS 5Y-28.29%

EPS Q2Q%66.67%

Revenue 1Y (TTM)-4.46%

Revenue growth 3Y4.33%

Revenue growth 5Y13.37%

Sales Q2Q%-1.34%

3.2 Future

CSIQ is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 52.21% yearly.
Based on estimates for the next years, CSIQ will show a small growth in Revenue. The Revenue will grow by 7.23% on average per year.

EPS Next Y11.59%

EPS Next 2Y62.85%

EPS Next 3Y43.37%

EPS Next 5Y52.21%

Revenue Next Year-6.68%

Revenue Next 2Y10.13%

Revenue Next 3Y11.06%

Revenue Next 5Y7.23%

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.
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.

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4. Valuation

4.1 Price/Earnings Ratio

CSIQ reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Based on the Price/Forward Earnings ratio of 22.85, the valuation of CSIQ can be described as rather expensive.
Based on the Price/Forward Earnings ratio, CSIQ is valued cheaper than 83.19% of the companies in the same industry.
CSIQ is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 24.32, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	22.85

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CSIQ is valued cheaper than 89.38% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	12.11

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
CSIQ's earnings are expected to grow with 43.37% in the coming years. This may justify a more expensive valuation.