Canadian Solar
Market Cap
US$1.0b
Last Updated
2020/04/10 08:26 UTC
Data Sources
Company Financials +
Executive Summary
Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -8.2% per year for the next 3 years
Snowflake Analysis
Adequate balance sheet and fair value.
Similar Companies
Share Price & News
How has Canadian Solar's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CSIQ's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
13.3%
CSIQ
10.5%
US Semiconductor
9.4%
US Market
1 Year Return
-10.3%
CSIQ
8.8%
US Semiconductor
-6.8%
US Market
Return vs Industry: CSIQ underperformed the US Semiconductor industry which returned 8.8% over the past year.
Return vs Market: CSIQ underperformed the US Market which returned -6.8% over the past year.
Shareholder returns
| CSIQ | Industry | Market | |
|---|---|---|---|
| 7 Day | 13.3% | 10.5% | 9.4% |
| 30 Day | -5.6% | 0.8% | -3.9% |
| 90 Day | -25.1% | -10.2% | -16.5% |
| 1 Year | -10.3%-10.3% | 11.0%8.8% | -4.8%-6.8% |
| 3 Year | 32.7%32.7% | 68.4%59.1% | 23.4%15.2% |
| 5 Year | -51.5%-51.5% | 119.6%98.5% | 41.3%25.7% |
Price Volatility Vs. Market
How volatile is Canadian Solar's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Need To Know: Analysts Just Made A Substantial Cut To Their Canadian Solar Inc. (NASDAQ:CSIQ) Estimates4 weeks ago | Simply Wall St
What Is Canadian Solar's (NASDAQ:CSIQ) P/E Ratio After Its Share Price Tanked?1 month ago | Simply Wall St
Is It Too Late To Consider Buying Canadian Solar Inc. (NASDAQ:CSIQ)?Valuation
Is Canadian Solar undervalued compared to its fair value and its price relative to the market?
5.87x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CSIQ ($16.88) is trading above our estimate of fair value ($4.39)
Significantly Below Fair Value: CSIQ is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CSIQ is good value based on its PE Ratio (5.9x) compared to the Semiconductor industry average (28.5x).
PE vs Market: CSIQ is good value based on its PE Ratio (5.9x) compared to the US market (13.6x).
Price to Earnings Growth Ratio
PEG Ratio: CSIQ's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: CSIQ is good value based on its PB Ratio (0.7x) compared to the US Semiconductor industry average (2.4x).
Next Steps
Future Growth
How is Canadian Solar forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-8.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CSIQ's earnings are forecast to decline over the next 3 years (-8.2% per year).
Earnings vs Market: CSIQ's earnings are forecast to decline over the next 3 years (-8.2% per year).
High Growth Earnings: CSIQ's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CSIQ's revenue (7.3% per year) is forecast to grow faster than the US market (6.9% per year).
High Growth Revenue: CSIQ's revenue (7.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CSIQ's Return on Equity is forecast to be low in 3 years time (4.1%).
Next Steps
Past Performance
How has Canadian Solar performed over the past 5 years?
-3.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CSIQ has high quality earnings.
Growing Profit Margin: CSIQ's current net profit margins (5.4%) are lower than last year (6.3%).
Past Earnings Growth Analysis
Earnings Trend: CSIQ's earnings have declined by -3.5% per year over the past 5 years.
Accelerating Growth: CSIQ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CSIQ had negative earnings growth (-27.6%) over the past year, making it difficult to compare to the Semiconductor industry average (-28.3%).
Return on Equity
High ROE: CSIQ's Return on Equity (11.7%) is considered low.
Next Steps
Financial Health
How is Canadian Solar's financial position?
Financial Position Analysis
Short Term Liabilities: CSIQ's short term assets ($3.3B) exceed its short term liabilities ($3.1B).
Long Term Liabilities: CSIQ's short term assets ($3.3B) exceed its long term liabilities ($950.2M).
Debt to Equity History and Analysis
Debt Level: CSIQ's debt to equity ratio (129%) is considered high.
Reducing Debt: CSIQ's debt to equity ratio has reduced from 138.1% to 129% over the past 5 years.
Debt Coverage: CSIQ's debt is not well covered by operating cash flow (11.8%).
Interest Coverage: CSIQ's interest payments on its debt are well covered by EBIT (3.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Canadian Solar's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate CSIQ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate CSIQ's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if CSIQ's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CSIQ's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CSIQ's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.0yrs
Average management tenure
CEO
Shawn Qu (55yo)
no data
Tenure
Dr. Xiaohua Qu, also known as Shawn, Founded Canadian Solar Inc. in October 2001 and has been its Chief Executive Officer and President since October 2001. Prior to joining Canadian Solar, Inc., Dr. Qu wo ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | no data | no data | 22.91% $229.9m | |
| Acting CEO | 0.92yr | no data | no data | |
| Senior VP & CFO | 3.92yrs | no data | 0.026% $261.6k | |
| Senior VP & COO | 7.33yrs | no data | no data | |
| Senior VP & CTO | no data | no data | 0.021% $213.1k | |
| Managing Director of Investor Relations | 9yrs | no data | no data | |
| Senior VP | 4.17yrs | no data | 0.033% $329.1k | |
| Corporate Development Manager | no data | no data | no data | |
| Managing Director of Global EPC - Global Energy Group | 2.58yrs | no data | no data | |
| Senior Supervisor of Investor Relations | no data | no data | no data |
4.0yrs
Average Tenure
55.5yo
Average Age
Experienced Management: CSIQ's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | no data | no data | 22.91% $229.9m | |
| Independent Director | 8.75yrs | no data | 0.011% $114.5k | |
| Lead Independent Director | 13.67yrs | no data | 0.020% $198.9k | |
| Independent Director | 5.67yrs | no data | no data | |
| Independent Director | 0.25yr | no data | no data | |
| Independent Director | 1.08yrs | no data | no data |
7.2yrs
Average Tenure
59.5yo
Average Age
Experienced Board: CSIQ's board of directors are considered experienced (7.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Canadian Solar Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Canadian Solar Inc.
- Ticker: CSIQ
- Exchange: NasdaqGS
- Founded: 2001
- Industry: Semiconductors
- Sector: Semiconductors
- Market Cap: US$1.003b
- Shares outstanding: 59.44m
- Website: https://www.canadiansolar.com
Number of Employees
Location
- Canadian Solar Inc.
- 545 Speedvale Avenue West
- Guelph
- Ontario
- N1K 1E6
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CSIQ | NasdaqGS (Nasdaq Global Select) | Yes | Common Shares | US | USD | Nov 2006 |
| L5A | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Nov 2006 |
| CSIQ | SWX (SIX Swiss Exchange) | Yes | Common Shares | CH | CHF | Nov 2006 |
Biography
Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems. The company also develops, constructs, maintains, sells, and/or operates solar plants. In addition, it provides specialty solar products consisting Maple Solar System, a clean energy solution for families; solar inverters; energy storage systems; and solar pump systems, as well as solar system kits, which are a ready-to-install packages that consist inverters, racking systems, and other accessories. Further, the company develops, builds, and sells solar power projects; performs engineering, procurement, and construction (EPC) works for solar power projects; and offers operation and maintenance services that include inspection, repair, and replacement of plant equipment, site management, and administrative support services. Additionally, it generates and sells electricity with an aggregate capacity of approximately 986.3 megawatts. The company offers its products to distributors, system integrators, project developers, and installers/EPC companies. It has operations in North America, South America, Europe, Africa, the Middle East, Australia, and Asia. The company was founded in 2001 and is headquartered in Guelph, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/10 08:26 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.