NasdaqGS:CSIQ

Stock Analysis Report

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Executive Summary

Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. More Details


Snowflake Analysis

High growth potential with excellent balance sheet.


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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: CSIQ's weekly volatility (9%) has been stable over the past year.


Market Performance


7 Day Return

-1.7%

CSIQ

2.2%

US Semiconductor

0.3%

US Market


1 Year Return

150.0%

CSIQ

55.5%

US Semiconductor

21.1%

US Market

Return vs Industry: CSIQ exceeded the US Semiconductor industry which returned 51.3% over the past year.

Return vs Market: CSIQ exceeded the US Market which returned 19.5% over the past year.


Shareholder returns

CSIQIndustryMarket
7 Day-1.7%2.2%0.3%
30 Day22.2%10.0%3.3%
90 Day39.3%23.4%14.2%
1 Year150.0%150.0%58.2%55.5%23.8%21.1%
3 Year251.9%251.9%106.5%95.6%45.0%35.4%
5 Year173.0%173.0%368.2%322.6%127.7%102.3%

Long-Term 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 compared to its fair value and its price relative to the market?

15.78x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CSIQ ($55.03) is trading above our estimate of fair value ($30.25)

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 (15.8x) compared to the US Semiconductor industry average (45.7x).

PE vs Market: CSIQ is good value based on its PE Ratio (15.8x) compared to the US market (21x).


Price to Earnings Growth Ratio

PEG Ratio: CSIQ is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: CSIQ is good value based on its PB Ratio (2.2x) compared to the US Semiconductor industry average (4.4x).


Next Steps

Future Growth

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

27.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSIQ's forecast earnings growth (27.7% per year) is above the savings rate (2%).

Earnings vs Market: CSIQ's earnings (27.7% per year) are forecast to grow faster than the US market (21.6% per year).

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

Revenue vs Market: CSIQ's revenue (22.6% per year) is forecast to grow faster than the US market (10.3% per year).

High Growth Revenue: CSIQ's revenue (22.6% per year) is forecast to grow faster 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 (9.8%).


Next Steps

Past Performance

How has Canadian Solar performed over the past 5 years?

17.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CSIQ has high quality earnings.

Growing Profit Margin: CSIQ's current net profit margins (6.2%) are lower than last year (6.8%).


Past Earnings Growth Analysis

Earnings Trend: CSIQ's earnings have grown by 17.4% 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 (-3.3%) over the past year, making it difficult to compare to the Semiconductor industry average (20.8%).


Return on Equity

High ROE: CSIQ's Return on Equity (11.5%) 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 ($3.9B) exceed its short term liabilities ($3.2B).

Long Term Liabilities: CSIQ's short term assets ($3.9B) exceed its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: CSIQ's debt to equity ratio (118.4%) is considered high.

Reducing Debt: CSIQ's debt to equity ratio has reduced from 224.9% to 118.4% over the past 5 years.

Debt Coverage: CSIQ's debt is well covered by operating cash flow (27.9%).

Interest Coverage: CSIQ's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Canadian Solar 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 recent payouts.

High Dividend: Unable to evaluate CSIQ's dividend yield against the top 25% of dividend payers, as the company has not reported any recent 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?

4.7yrs

Average management tenure


CEO

Shawn Qu (56 yo)

no data

Tenure

Dr. Xiaohua Qu, also known as Shawn, Founded Canadian Solar Inc. in October 2001 and serves as its Chief Executive Officer and served as its President since October 2001 until June 2020. Prior to joining C...


Leadership Team

NamePositionTenureCompensationOwnership
Xiaohua Qu
Chairman & CEOno datano data23.51%
$ 763.7m
Yan Zhuang
Director0.33yrno data0%
$ 0
Huifeng Chang
Senior VP0.33yrno data0.0066%
$ 214.8k
Guoqiang Xing
Senior VP & CTOno datano data0.019%
$ 603.0k
Ed Job
Managing Director of Investor Relations9.75yrsno datano data
Jianyi Zhang
Senior VP4.75yrsno data0.031%
$ 1.0m
Julie Ungerleider
Managing Director of Global EPC - Global Energy Group3.33yrsno datano data
Ismael Arias
Corporate VP & President of the Energy business0.25yrno datano data
Mary Ma
Senior Supervisor of Investor Relationsno datano datano data

4.7yrs

Average Tenure

56yo

Average Age

Experienced Management: CSIQ's management team is considered experienced (4.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Xiaohua Qu
Chairman & CEOno datano data23.51%
$ 763.7m
Yan Zhuang
Director0.33yrno data0%
$ 0
Huifeng Chang
Senior VP0.33yrno data0.0066%
$ 214.8k
Karl Olsoni
Independent Director0.58yrno datano data
Li Chang
Independent Director0.33yrno datano data
Harry Ruda
Independent Director9.5yrsno data0.059%
$ 1.9m
Luen Cheung Wong
Independent Director6.42yrsno data0.011%
$ 367.8k
Lauren Templeton
Independent Director1yrno datano data
Lap Tat Wong
Independent Director1.83yrsno datano data

1.0yrs

Average Tenure

58yo

Average Age

Experienced Board: CSIQ's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


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$3.249b
  • Shares outstanding: 59.04m
  • 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
0XGHLSE (London Stock Exchange)YesCommon SharesGBUSDNov 2006

Biography

Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. The company operates through two segmen...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/20 00:37
End of Day Share Price2021/01/19 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.