NasdaqGS:CSIQ

Stock Analysis Report

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.

Snowflake

Fundamentals

Fair value with acceptable track record.


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


Market Performance


7 Day Return

2.3%

NasdaqGS:CSIQ

-0.8%

US Semiconductor

-0.02%

US Market


1 Year Return

45.2%

NasdaqGS:CSIQ

10.2%

US Semiconductor

1.6%

US Market

CSIQ outperformed the Semiconductor industry which returned 10.7% over the past year.

CSIQ outperformed the Market in United States of America which returned 1.9% over the past year.


Share holder returns

CSIQIndustryMarket
7 Day2.3%-0.8%-0.02%
30 Day-11.0%5.8%2.7%
90 Day-1.4%12.0%1.4%
1 Year45.2%45.2%12.3%10.2%3.8%1.6%
3 Year75.3%75.3%82.2%71.6%45.2%35.8%
5 Year-43.9%-43.9%122.9%100.2%61.8%44.1%

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

Valuation

Is Canadian Solar undervalued based on future cash flows and its price relative to the stock market?

5.75x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Canadian Solar's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Canadian Solar's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Canadian Solar is good value based on earnings compared to the US Semiconductor industry average.

Canadian Solar is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Canadian Solar earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Canadian Solar is good value based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is Canadian Solar expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

-6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Canadian Solar's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).

Canadian Solar's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Canadian Solar's revenue growth is positive but not above the United States of America market average.

Canadian Solar's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.

Canadian Solar's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Canadian Solar is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Canadian Solar performed over the past 5 years?

-5.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Canadian Solar's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Canadian Solar's 1-year earnings growth exceeds its 5-year average (67.3% vs -5.4%)

Canadian Solar's earnings growth has exceeded the US Semiconductor industry average in the past year (67.3% vs -6.2%).


Return on Equity

Canadian Solar has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Canadian Solar used its assets less efficiently than the US Semiconductor industry average last year based on Return on Assets.


Return on Capital Employed

Canadian Solar has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Canadian Solar's financial position?


Financial Position Analysis

Canadian Solar's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Canadian Solar's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Canadian Solar's level of debt (130.2%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (204.6% vs 130.2% today).

Debt is not well covered by operating cash flow (12.6%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 7.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.7x debt.


Next Steps

Dividend

What is Canadian Solar's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Canadian Solar's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Canadian Solar's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Canadian Solar has not reported any payouts.

Unable to verify if Canadian Solar's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Canadian Solar has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Canadian Solar's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

What is the CEO of Canadian Solar's salary, the management and board of directors tenure and is there insider trading?

5.2yrs

Average management tenure


CEO

Shawn Qu (55yo)

0yrs

Tenure

0

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 ...


Management Age and Tenure

5.2yrs

Average Tenure

57yo

Average Age

The average tenure for the Canadian Solar management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

10.6yrs

Average Tenure

61yo

Average Age

The average tenure for the Canadian Solar board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$3,037,06007 Jun 19
Lion Point Capital
EntityCompany
Shares177,918
Max PriceUS$17.07
SellUS$12,480,00006 May 19
Lion Point Capital
EntityCompany
Shares600,000
Max PriceUS$20.80
BuyUS$3,035,76710 Oct 18
Lion Point Capital
EntityCompany
Shares208,728
Max PriceUS$14.71

Ownership Breakdown


Management Team

  • Guangchun Zhang (62yo)

    Senior VP & COO

    • Tenure: 6.8yrs
  • Shanglin Shi (65yo)

    Deputy General Manager of China Operation

    • Tenure: 13.1yrs
  • Jian Chien (58yo)

    Senior VP

    • Tenure: 12yrs
  • Shawn Qu (55yo)

    Chairman

    • Tenure: 0yrs
  • Yan Zhuang (55yo)

    Acting CEO

    • Tenure: 0.3yrs
  • Ed Job

    Managing Director of Investor Relations

    • Tenure: 8.4yrs
  • Guoqiang Xing (56yo)

    Senior VP & CTO

    • Tenure: 0yrs
  • Julie Ungerleider

    Managing Director of Global EPC - Global Energy Group

    • Tenure: 2yrs
  • Huifeng Chang (53yo)

    Senior VP & CFO

    • Tenure: 3.3yrs
  • Jianyi Zhang (61yo)

    Senior VP

    • Tenure: 3.6yrs

Board Members

  • Lars-Eric Johansson (72yo)

    Independent Director

    • Tenure: 13.1yrs
  • Harry Ruda (60yo)

    Independent Director

    • Tenure: 8.2yrs
  • Bob McDermott (78yo)

    Lead Independent Director

    • Tenure: 13.1yrs
  • Shawn Qu (55yo)

    Chairman

    • Tenure: 0yrs
  • Andrew Wong (62yo)

    Independent Director

    • Tenure: 5.1yrs
  • Arthur Wong (59yo)

    Independent Director

    • Tenure: 0.5yrs

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$1.289b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CSIQNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDNov 2006
L5ADB (Deutsche Boerse AG)YesCommon SharesDEEURNov 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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/18 23:51
End of Day Share Price2019/09/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.