Canadian Solar Valuation

Is CSIQ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CSIQ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CSIQ ($19.4) is trading below our estimate of fair value ($24.84)

Significantly Below Fair Value: CSIQ is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for CSIQ?

Other financial metrics that can be useful for relative valuation.

CSIQ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA6.6x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

How does CSIQ's PE Ratio compare to its peers?

The above table shows the PE ratio for CSIQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.2x
JKS JinkoSolar Holding
2.3x-9.9%US$1.3b
HIMX Himax Technologies
18.6x30.6%US$943.6m
19.6xn/aUS$423.0m
SIMO Silicon Motion Technology
48.2x43.9%US$2.5b
CSIQ Canadian Solar
4.6x7.6%US$1.3b

Price-To-Earnings vs Peers: CSIQ is good value based on its Price-To-Earnings Ratio (4.6x) compared to the peer average (22.2x).


Price to Earnings Ratio vs Industry

How does CSIQ's PE Ratio compare vs other companies in the US Semiconductor Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a24.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a24.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: CSIQ is good value based on its Price-To-Earnings Ratio (4.6x) compared to the US Semiconductor industry average (29.1x).


Price to Earnings Ratio vs Fair Ratio

What is CSIQ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CSIQ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.6x
Fair PE Ratio22.3x

Price-To-Earnings vs Fair Ratio: CSIQ is good value based on its Price-To-Earnings Ratio (4.6x) compared to the estimated Fair Price-To-Earnings Ratio (22.3x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CSIQ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$19.40
US$29.75
+53.4%
33.5%US$51.00US$21.00n/a8
Mar ’25US$20.97
US$32.29
+54.0%
27.5%US$51.00US$22.00n/a7
Feb ’25US$22.92
US$34.00
+48.3%
27.9%US$51.00US$22.00n/a8
Jan ’25US$26.23
US$33.00
+25.8%
31.1%US$51.00US$22.00n/a8
Dec ’24US$21.88
US$32.50
+48.5%
33.0%US$51.00US$21.00n/a8
Nov ’24US$19.44
US$40.25
+107.0%
35.7%US$68.00US$21.00n/a8
Oct ’24US$24.61
US$42.38
+72.2%
29.6%US$68.00US$27.00n/a8
Sep ’24US$28.29
US$44.50
+57.3%
27.0%US$68.00US$27.00n/a8
Aug ’24US$35.97
US$53.25
+48.0%
20.8%US$70.00US$39.00n/a8
Jul ’24US$38.69
US$53.13
+37.3%
20.8%US$70.00US$39.00n/a8
Jun ’24US$40.48
US$52.88
+30.6%
21.1%US$70.00US$39.00n/a8
May ’24US$36.93
US$49.25
+33.4%
17.5%US$62.00US$35.00n/a8
Apr ’24US$39.81
US$47.29
+18.8%
16.1%US$60.00US$35.00n/a7
Mar ’24US$41.77
US$46.43
+11.2%
15.0%US$57.00US$35.00US$20.977
Feb ’24US$42.03
US$44.71
+6.4%
18.5%US$57.00US$33.00US$22.927
Jan ’24US$30.90
US$45.00
+45.6%
17.7%US$57.00US$33.00US$26.237
Dec ’23US$34.65
US$45.00
+29.9%
17.7%US$57.00US$33.00US$21.887
Nov ’23US$33.45
US$44.57
+33.2%
18.1%US$56.00US$33.00US$19.447
Oct ’23US$37.25
US$47.86
+28.5%
12.0%US$56.00US$38.00US$24.617
Sep ’23US$44.96
US$48.57
+8.0%
9.6%US$56.00US$43.00US$28.297
Aug ’23US$35.81
US$43.00
+20.1%
19.1%US$55.00US$35.00US$35.977
Jul ’23US$31.12
US$42.71
+37.3%
19.7%US$55.00US$35.00US$38.697
Jun ’23US$32.25
US$42.71
+32.4%
19.7%US$55.00US$35.00US$40.487
May ’23US$27.52
US$43.71
+58.8%
16.8%US$55.00US$35.00US$36.937
Apr ’23US$35.82
US$43.71
+22.0%
16.8%US$55.00US$35.00US$39.817
Mar ’23US$32.77
US$42.29
+29.0%
18.8%US$55.00US$31.00US$41.777

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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