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CANADIAN SOLAR INC (CSIQ) Stock Fundamental Analysis

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

12.45  +1.26 (+11.26%)

After market: 12.36 -0.09 (-0.72%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to CSIQ. CSIQ was compared to 110 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.


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.
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.
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's Return On Assets of -0.07% is in line compared to the rest of the industry. CSIQ outperforms 43.64% of its industry peers.
CSIQ has a Return On Equity (-0.37%) which is comparable to the rest of the industry.
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

CSIQ's Profit Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 15.14%, CSIQ is doing worse than 86.36% of the companies in the same industry.
In the last couple of years the Gross Margin of CSIQ has declined.
The Profit Margin and Operating Margin are not available for CSIQ so they could not be analyzed.
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
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

Based on the Altman-Z score of 0.62, we must say that CSIQ is in the distress zone and has some risk of bankruptcy.
CSIQ's Altman-Z score of 0.62 is on the low side compared to the rest of the industry. CSIQ is outperformed by 72.73% of its industry peers.
CSIQ has a Debt/Equity ratio of 1.37. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.37, CSIQ is doing worse than 90.91% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Altman-Z 0.62
ROIC/WACCN/A
WACC3.79%
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

A Current Ratio of 1.07 indicates that CSIQ should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.07, CSIQ is doing worse than 91.82% of the companies in the same industry.
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

CSIQ shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -193.75%.
The earnings per share for CSIQ have been decreasing by -28.29% on average. This is quite bad
Looking at the last year, CSIQ shows a very negative growth in Revenue. The Revenue has decreased by -19.06% in the last year.
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

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 quite strong growth in Revenue. The Revenue will grow by 8.99% on average per year.
EPS Next Y107.79%
EPS Next 2Y73.11%
EPS Next 3Y53.53%
EPS Next 5Y52.21%
Revenue Next Year1.77%
Revenue Next 2Y9.56%
Revenue Next 3Y9.1%
Revenue Next 5Y8.99%

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.
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.
With a Price/Forward Earnings ratio of 8.68, the valuation of CSIQ can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CSIQ indicates a rather cheap valuation: CSIQ is cheaper than 99.09% of the companies listed in the same industry.
CSIQ is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 8.68
CSIQ Price Earnings VS Forward Price EarningsCSIQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CSIQ is valued cheaply inside the industry as 80.91% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.91
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.
A more expensive valuation may be justified as CSIQ's earnings are expected to grow with 53.53% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y73.11%
EPS Next 3Y53.53%

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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 (7/2/2025, 8:00:00 PM)

After market: 12.36 -0.09 (-0.72%)

12.45

+1.26 (+11.26%)

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 Cap833.78M
Analysts71.76
Price Target13.26 (6.51%)
Short Float %17.26%
Short Ratio4.95
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)-10.24%
PT rev (3m)-19.59%
EPS NQ rev (1m)43.08%
EPS NQ rev (3m)441.57%
EPS NY rev (1m)143.54%
EPS NY rev (3m)165.87%
Revenue NQ rev (1m)0.56%
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 8.68
P/S 0.14
P/FCF N/A
P/OCF N/A
P/B 0.3
P/tB 0.3
EV/EBITDA 12.91
EPS(TTM)-2.7
EYN/A
EPS(NY)1.44
Fwd EY11.53%
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
WACC3.79%
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 Y107.79%
EPS Next 2Y73.11%
EPS Next 3Y53.53%
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