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CANADIAN SOLAR INC (CSIQ) Stock Fundamental Analysis

USA - NASDAQ:CSIQ - CA1366351098 - Common Stock

15.07 USD
+0.25 (+1.69%)
Last: 10/21/2025, 8:06:56 PM
15.19 USD
+0.12 (+0.8%)
After Hours: 10/21/2025, 8:06:56 PM
Fundamental Rating

2

Overall CSIQ gets a fundamental rating of 2 out of 10. We evaluated CSIQ against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and financial health of CSIQ have multiple concerns. CSIQ has a correct valuation and a medium 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.
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

Looking at the Return On Assets, with a value of -0.05%, CSIQ is in line with its industry, outperforming 50.00% of the companies in the same industry.
The Return On Equity of CSIQ (-0.24%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA -0.05%
ROE -0.24%
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.
CSIQ has a Gross Margin of 18.75%. This is amonst the worse of the industry: CSIQ underperforms 82.14% of its industry peers.
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 18.75%
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
The number of shares outstanding for CSIQ has been increased compared to 5 years ago.
Compared to 1 year ago, CSIQ has a worse debt to assets ratio.
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 0.63. This is a bad value and indicates that CSIQ is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.63, CSIQ is doing worse than 75.00% of the companies in the same industry.
A Debt/Equity ratio of 1.58 is on the high side and indicates that CSIQ has dependencies on debt financing.
With a Debt to Equity ratio value of 1.58, CSIQ is not doing good in the industry: 91.07% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.58
Debt/FCF N/A
Altman-Z 0.63
ROIC/WACCN/A
WACC4.24%
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 1.09 indicates that CSIQ should not have too much problems paying its short term obligations.
The Current ratio of CSIQ (1.09) is worse than 89.29% of its industry peers.
A Quick Ratio of 0.87 indicates that CSIQ may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.87, CSIQ is doing worse than 88.39% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.09
Quick Ratio 0.87
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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4

3. Growth

3.1 Past

CSIQ shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -624.07%.
Measured over the past years, CSIQ shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -28.29% on average per year.
CSIQ shows a decrease in Revenue. In the last year, the revenue decreased by -9.11%.
The Revenue has been growing by 13.37% on average over the past years. This is quite good.
EPS 1Y (TTM)-624.07%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-260%
Revenue 1Y (TTM)-9.11%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%3.57%

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 52.21% on average per year.
The Revenue is expected to grow by 6.23% on average over the next years.
EPS Next Y18.17%
EPS Next 2Y64.74%
EPS Next 3Y52.55%
EPS Next 5Y52.21%
Revenue Next Year-5.22%
Revenue Next 2Y8.11%
Revenue Next 3Y21.63%
Revenue Next 5Y6.23%

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.
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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4

4. Valuation

4.1 Price/Earnings Ratio

CSIQ reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
CSIQ is valuated correctly with a Price/Forward Earnings ratio of 14.66.
Based on the Price/Forward Earnings ratio, CSIQ is valued cheaper than 95.54% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.23. CSIQ is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 14.66
CSIQ Price Earnings VS Forward Price EarningsCSIQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CSIQ indicates a rather cheap valuation: CSIQ is cheaper than 91.07% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 11.86
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

The 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 52.55% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y64.74%
EPS Next 3Y52.55%

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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 (10/21/2025, 8:06:56 PM)

After market: 15.19 +0.12 (+0.8%)

15.07

+0.25 (+1.69%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)08-21 2025-08-21/bmo
Earnings (Next)11-13 2025-11-13
Inst Owners40.48%
Inst Owner Change0%
Ins Owners21.18%
Ins Owner ChangeN/A
Market Cap1.01B
Analysts71.76
Price Target12.65 (-16.06%)
Short Float %19.15%
Short Ratio5.87
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)-50.11%
Min EPS beat(2)-104.86%
Max EPS beat(2)4.63%
EPS beat(4)1
Avg EPS beat(4)-378.47%
Min EPS beat(4)-1389.64%
Max EPS beat(4)4.63%
EPS beat(8)2
Avg EPS beat(8)-54.25%
EPS beat(12)6
Avg EPS beat(12)-10.08%
EPS beat(16)9
Avg EPS beat(16)16.21%
Revenue beat(2)1
Avg Revenue beat(2)-3.86%
Min Revenue beat(2)-14.75%
Max Revenue beat(2)7.03%
Revenue beat(4)1
Avg Revenue beat(4)-6.62%
Min Revenue beat(4)-14.75%
Max Revenue beat(4)7.03%
Revenue beat(8)3
Avg Revenue beat(8)-4.52%
Revenue beat(12)4
Avg Revenue beat(12)-4.43%
Revenue beat(16)5
Avg Revenue beat(16)-4.57%
PT rev (1m)-1.59%
PT rev (3m)-4.61%
EPS NQ rev (1m)-10.57%
EPS NQ rev (3m)-17.1%
EPS NY rev (1m)-1150.26%
EPS NY rev (3m)-1150.26%
Revenue NQ rev (1m)-3.19%
Revenue NQ rev (3m)-16.23%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)-8.16%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 14.66
P/S 0.17
P/FCF N/A
P/OCF N/A
P/B 0.35
P/tB 0.36
EV/EBITDA 11.86
EPS(TTM)-2.83
EYN/A
EPS(NY)1.03
Fwd EY6.82%
FCF(TTM)-30.57
FCFYN/A
OCF(TTM)-3.59
OCFYN/A
SpS88.39
BVpS42.63
TBVpS42.15
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.05%
ROE -0.24%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 18.75%
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 Turnover0.4
Health
Industry RankSector Rank
Debt/Equity 1.58
Debt/FCF N/A
Debt/EBITDA 10.07
Cap/Depr 360.35%
Cap/Sales 30.53%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.09
Quick Ratio 0.87
Altman-Z 0.63
F-Score2
WACC4.24%
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)-624.07%
EPS 3Y-26.92%
EPS 5Y-28.29%
EPS Q2Q%-260%
EPS Next Y18.17%
EPS Next 2Y64.74%
EPS Next 3Y52.55%
EPS Next 5Y52.21%
Revenue 1Y (TTM)-9.11%
Revenue growth 3Y4.33%
Revenue growth 5Y13.37%
Sales Q2Q%3.57%
Revenue Next Year-5.22%
Revenue Next 2Y8.11%
Revenue Next 3Y21.63%
Revenue Next 5Y6.23%
EBIT growth 1Y-130.04%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year393.18%
EBIT Next 3Y113.78%
EBIT Next 5Y63.1%
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