Canadian Solar Future Growth

Future criteria checks 4/6

Canadian Solar is forecast to grow earnings and revenue by 59.8% and 13.9% per annum respectively. EPS is expected to grow by 43.7% per annum. Return on equity is forecast to be 6.7% in 3 years.

Key information

59.8%

Earnings growth rate

43.7%

EPS growth rate

Semiconductor earnings growth	15.0%
Revenue growth rate	13.9%
Future return on equity	6.7%
Analyst coverage	Good
Last updated	25 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

DB:L5A - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	9,206	365	-205	899	8
12/31/2025	8,156	243	-500	271	9
12/31/2024	6,840	73	-987	-444	8
6/30/2024	6,513	37	-2,077	-373	N/A
3/31/2024	7,241	203	-1,276	346	N/A
12/31/2023	7,614	274	-841	685	N/A
9/30/2023	7,883	353	-422	890	N/A
6/30/2023	7,969	410	-254	801	N/A
3/31/2023	7,920	314	N/A	N/A	N/A
12/31/2022	7,469	240	289	917	N/A
9/30/2022	7,026	188	N/A	N/A	N/A
6/30/2022	6,323	145	N/A	N/A	N/A
3/31/2022	5,438	82	N/A	N/A	N/A
12/31/2021	5,277	95	-838	-408	N/A
9/30/2021	4,789	76	N/A	N/A	N/A
6/30/2021	4,474	50	N/A	N/A	N/A
3/31/2021	3,740	59	N/A	N/A	N/A
12/31/2020	3,476	147	-455	-121	N/A
9/30/2020	3,356	208	N/A	N/A	N/A
6/30/2020	3,201	257	N/A	N/A	N/A
3/31/2020	3,541	299	N/A	N/A	N/A
12/31/2019	3,201	172	309	600	N/A
9/30/2019	3,182	215	N/A	N/A	N/A
6/30/2019	3,190	224	N/A	N/A	N/A
3/31/2019	2,804	177	N/A	N/A	N/A
12/31/2018	3,745	237	-100	216	N/A
9/30/2018	3,952	187	N/A	N/A	N/A
6/30/2018	4,096	134	N/A	N/A	N/A
3/31/2018	4,138	156	N/A	N/A	N/A
12/31/2017	3,390	100	N/A	204	N/A
9/30/2017	2,950	25	N/A	N/A	N/A
6/30/2017	2,695	27	N/A	N/A	N/A
3/31/2017	2,809	29	N/A	N/A	N/A
12/31/2016	2,853	65	N/A	-278	N/A
9/30/2016	3,305	141	N/A	N/A	N/A
6/30/2016	3,497	156	N/A	N/A	N/A
3/31/2016	3,328	133	N/A	N/A	N/A
12/31/2015	3,468	172	N/A	414	N/A
9/30/2015	3,304	185	N/A	454	N/A
6/30/2015	3,368	259	N/A	N/A	N/A
3/31/2015	3,355	297	N/A	N/A	N/A
12/31/2014	2,961	240	N/A	265	N/A
9/30/2014	2,524	185	N/A	79	N/A
6/30/2014	2,100	108	N/A	N/A	N/A
3/31/2014	1,857	40	N/A	N/A	N/A
12/31/2013	1,654	32	N/A	230	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: L5A's forecast earnings growth (59.8% per year) is above the savings rate (1%).

Earnings vs Market: L5A's earnings (59.8% per year) are forecast to grow faster than the German market (21% per year).

High Growth Earnings: L5A's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: L5A's revenue (13.9% per year) is forecast to grow faster than the German market (5.6% per year).

High Growth Revenue: L5A's revenue (13.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: L5A's Return on Equity is forecast to be low in 3 years time (6.7%).

Canadian Solar Future Growth

Future criteria checks 4/6

Key information

Recent future growth updates

Canadian Solar Inc. Reiterates Production Guidance for the Year 2024; Provides Revenue Guidance for the Year 2024

Canadian Solar Inc. Provides Earnings Guidance for the Fourth Quarter of 2023

Canadian Solar Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2023

Canadian Solar Inc. Provides Earnings Guidance for the Second Quarter of the Year 2023

Canadian Solar Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

Canadian Solar Inc. Provides Earnings Guidance for the Third Quarter of 2022

Recent updates

Investor sentiment improves as stock rises 16%

Investor sentiment deteriorates as stock falls 16%

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 17%

Second quarter 2024 earnings released: EPS: US$0.058 (vs US$2.62 in 2Q 2023)

Investor sentiment deteriorates as stock falls 17%

Canadian Solar Inc. announced that it expects to receive $200 million in funding from PAG

Investor sentiment deteriorates as stock falls 19%

Canadian Solar to Present New EP Cube, Showcasing Advanced Safety, At Intersolar in Munich

Investor sentiment deteriorates as stock falls 16%

Canadian Solar Inc., Annual General Meeting, Jun 21, 2024

Investor sentiment improves as stock rises 16%

Canadian Solar Inc. Announces Chief Financial Officer Changes

Full year 2023 earnings released: EPS: US$4.19 (vs US$3.73 in FY 2022)

New minor risk - Shareholder dilution

Maxeon Solar Technologies Initiates TOPCon Patent Infringement Lawsuit Against Canadian Solar Inc

New major risk - Revenue and earnings growth

New major risk - Financial position

Canadian Solar Inc. Reiterates Production Guidance for the Year 2024; Provides Revenue Guidance for the Year 2024

New major risk - Revenue and earnings growth

Now 24% overvalued after recent price rise

Investor sentiment improves as stock rises 17%

Now 22% overvalued

Investor sentiment improves as stock rises 15%

Third quarter 2023 earnings released: EPS: US$0.33 (vs US$1.22 in 3Q 2022)

Canadian Solar Inc. Provides Earnings Guidance for the Fourth Quarter of 2023

Insufficient new directors

Canadian Solar Inc. Introduces EP Cube Lite, a New Grid-Tied Residential Energy Storage Solution at RE+ in Las Vegas

Canadian Solar Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2023

Second quarter 2023 earnings released: EPS: US$2.62 (vs US$1.16 in 2Q 2022)

Investor sentiment deteriorates as stock falls 17%

Canadian Solar Inc. Announces Executive Changes

Canadian Solar Launches Its First Residential Energy Storage System Ep Cube At Intersolar Europe in Germany

An Unknown buyer acquired 100 MWp Azuma Kofuji Solar Project in Japan from Canadian Solar Inc. (NasdaqGS:CSIQ).

Canadian Solar Inc., Annual General Meeting, Jun 28, 2023

Canadian Solar Inc. Provides Earnings Guidance for the Second Quarter of the Year 2023

First quarter 2023 earnings released: EPS: US$1.30 (vs US$0.14 in 1Q 2022)

Now 21% undervalued after recent price drop

Now 21% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$3.73 (vs US$1.55 in FY 2021)

Investor sentiment improved over the past week

Third quarter 2022 earnings released: EPS: US$1.22 (vs US$0.56 in 3Q 2021)

Canadian Solar Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

High number of new directors

Investor sentiment deteriorated over the past week

Second quarter 2022 earnings released: EPS: US$1.16 (vs US$0.19 in 2Q 2021)

Canadian Solar Inc. Provides Earnings Guidance for the Third Quarter of 2022

Investor sentiment improved over the past week

Calenergy Resources (Australia) Limited acquired Suntop and Gunnedah 345 MWp Solar Farm from Canadian Solar Inc. (NasdaqGS:CSIQ).

Canadian Solar Inc. and Canadian Solar (USA) Inc. Settle Patent Litigation with Solaria

SPIC Brasil Energia Participacoes S.A. agreed to acquire 70% stake in 738 MWp solar project from Canadian Solar Inc. (NasdaqGS:CSIQ).

SPIC Brasil Energia Participacoes S.A. agreed to acquire 70% stake in 738 MWp solar project from Canadian Solar Inc. (NasdaqGS:CSIQ).

Canadian Solar Inc., Annual General Meeting, Jun 22, 2022

Canadian Solar Inc. Provides Earnings Guidance for the Full Year 2022

Investor sentiment improved over the past week

Full year 2021 earnings released: EPS: US$1.55 (vs US$2.46 in FY 2020)

High number of new directors

Maxeon Solar Technologies, Ltd. and Canadian Solar Inc. Announce Settlement Agreement Resolving Patent Infringement Lawsuit

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Canadian Solar Inc. has completed a Follow-on Equity Offering.

Third quarter 2021 earnings released: EPS US$0.56 (vs US$0.15 in 3Q 2020)

Investor sentiment deteriorated over the past week

Second quarter 2021 earnings released: EPS US$0.19 (vs US$0.35 in 2Q 2020)

Investor sentiment improved over the past week

First quarter 2021 earnings released: EPS US$0.38 (vs US$1.86 in 1Q 2020)

Canadian Solar Inc. Provides Earnings Guidance for the Second Quarter of 2021 and Reaffirms Earnings Guidance for the Full Year 2021

Full year 2020 earnings released: EPS US$2.46 (vs US$2.88 in FY 2019)