CSIQ Stock Analysis: Canadian Solar | NASDAQ
Solar | NASDAQ, USA | Market Cap: 1.045m USD | 12M Return: 15.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 40.0M
Qual. Beats: -2
Rev. Trend: -95.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Canadian Solar Inc. (NASDAQ: CSIQ) is a vertically integrated solar energy and battery energy storage company that operates through two segments: Manufacturing (CSI Solar) and Recurrent Energy. The Manufacturing segment produces solar modules, battery storage systems, inverters, racking, and other balance-of-system components, and provides engineering, procurement, and construction (EPC) services. The Recurrent Energy segment develops, builds, owns, and operates utility-scale solar and battery storage projects, sells electricity, and offers operations, maintenance, and asset management services. The company serves a broad customer base spanning distributors, system integrators, project developers, installers, EPC contractors, utilities, and commercial, industrial, and government end users across Asia, the United States, Europe, and other international markets, primarily under the Canadian Solar brand and related brands including e-STORAGE, SolBank, and EP Cube.
Canadian Solar was incorporated in 2001 and is headquartered in Kitchener, Canada. The integrated manufacturer-plus-developer model is common among large solar players, allowing the company to capture margin across both component supply and downstream project development. Solar module manufacturing and battery energy storage are capital-intensive, highly competitive global sectors, with pricing pressure historically driven by overcapacity and shifts in trade policy.
- Solar module ASPs decline amid global supply glut
- Battery storage segment scaling with e-STORAGE demand
- US IRA tariffs boost domestic manufacturing margins
| Net Income: -102.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.09 > 0.02 and ΔFCF/TA 10.09 > 1.0 |
| NWC/Revenue: 7.16% < 20% (prev 6.91%; Δ 0.26% < -1%) |
| CFO/TA -0.01 > 3% & CFO -199.0m > Net Income -102.2m |
| Net Debt (6.74b) to EBITDA (725.9m): 9.28 < 3 |
| Current Ratio: 1.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (67.8m) vs 12m ago 1.28% < -2% |
| Gross Margin: 21.12% > 18% (prev 15.14%; Δ 5.98% > 0.5%) |
| Asset Turnover: 37.22% > 50% (prev 42.18%; Δ -4.96% > 0%) |
| Interest Coverage Ratio: 0.90 > 6 (EBIT TTM 170.8m / Interest Expense TTM 190.0m) |
| A: 0.03 (Total Current Assets 6.46b - Total Current Liabilities 6.07b) / Total Assets 15.5b |
| B: 0.09 (Retained Earnings 1.45b / Total Assets 15.5b) |
| C: 0.01 (EBIT TTM 170.8m / Avg Total Assets 14.7b) |
| D: 0.25 (Book Value of Equity 2.83b / Total Liabilities 11.2b) |
| Altman-Z'' = 0.81 = B |
| DSRI: 0.98 (Receivables 1.22b/1.34b, Revenue 5.48b/5.86b) |
| GMI: 0.72 (GM 15.14% / 21.12%) |
| AQI: 1.33 (AQ_t 0.20 / AQ_t-1 0.15) |
| SGI: 0.93 (Revenue 5.48b / 5.86b) |
| TATA: 0.01 (NI -102.2m - CFO -199.0m) / TA 15.5b) |
| Beneish M = -3.15 (Cap -4..+1) = AA |
As of July 06, 2026, the stock is trading at USD 14.46 with a total of 2,599,000 shares traded. Over the past week, the price has changed by -8.60%, over one month by -25.96%, over three months by +12.97% and over the past year by +15.50%.
Current recommended Stop Loss: 12.80 (which is 11.5% or 1.3 ATR below the current price).
Canadian Solar has received a consensus analysts rating of 3.55. Therefore, it is recommended to hold CSIQ.
- StrongBuy: 4
- Buy: 0
- Hold: 5
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 18.1 | 24.8% |
P/E Forward = 21.5054
P/S = 0.1908
P/B = 0.3683
P/EG = 0.1632
Revenue TTM = 5.48b USD
EBIT TTM = 170.8m USD
EBITDA TTM = 725.9m USD
Long Term Debt = 3.96b USD (from longTermDebt, last quarter)
Short Term Debt = 3.51b USD (from shortTermDebt, last quarter)
Debt = 8.18b USD (from shortLongTermDebtTotal, last quarter) + Leases 371.3m
Net Debt = 6.74b USD (calculated: Debt 8.18b - CCE 1.44b)
Enterprise Value = 7.78b USD (1.04b + Debt 8.18b - CCE 1.44b)
Interest Coverage Ratio = 0.90 (Ebit TTM 170.8m / Interest Expense TTM 190.0m)
EV/FCF = -5.53x (Enterprise Value 7.78b / FCF TTM -1.41b)
FCF Yield = -18.10% (FCF TTM -1.41b / Enterprise Value 7.78b)
FCF Margin = -25.72% (FCF TTM -1.41b / Revenue TTM 5.48b)
Net Margin = -1.87% (Net Income TTM -102.2m / Revenue TTM 5.48b)
Gross Margin = 21.12% ((Revenue TTM 5.48b - Cost of Revenue TTM 4.32b) / Revenue TTM)
Gross Margin QoQ = 25.13% (prev 10.22%)
Tobins Q-Ratio = 0.50 (Enterprise Value 7.78b / Total Assets 15.5b)
Interest Expense / Debt = 2.32% (Interest Expense 190.0m / Debt 8.18b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 135.0m (EBIT 170.8m * (1 - 21.00%))
Current Ratio = 1.06 (Total Current Assets 6.46b / Total Current Liabilities 6.07b)
Debt / Equity = 2.89 (Debt 8.18b / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 9.28 (Net Debt 6.74b / EBITDA 725.9m)
Debt / FCF = -4.78 (negative FCF - burning cash) (Net Debt 6.74b / FCF TTM -1.41b)
Total Stockholder Equity = 2.84b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.69% (Net Income -102.2m / Total Assets 15.5b)
RoE = -3.60% (Net Income TTM -102.2m / Total Stockholder Equity 2.84b)
RoCE = 2.51% (EBIT 170.8m / Capital Employed (Equity 2.84b + L.T.Debt 3.96b))
RoIC = 1.06% (NOPAT 135.0m / Invested Capital 12.7b)
WACC = 3.18% (E(1.04b)/V(9.22b) * Re(13.66%) + D(8.18b)/V(9.22b) * Rd(2.32%) * (1-Tc(0.21)))
Discount Rate = 13.66% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 62.93 | Cagr: 1.19%
[DCF] Fair Price = unknown (Cash Flow -1.41b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.31 | # QB: -2
Revenue Correlation: -95.65 | Revenue CAGR: -13.48% | SUE: 0.47 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-1.23 | Chg30d=-42.51% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.48 | Chg30d=-114.49% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=-2.48 | Chg30d=-30.33% | Revisions=-25% | GrowthEPS=+0.0% | GrowthRev=+10.5%
EPS next Year (2027-12-31): EPS=-0.44 | Chg30d=-153.42% | Revisions=-40% | GrowthEPS=+82.3% | GrowthRev=+18.9%
[Analyst] Revisions Ratio: -62% (up=0, down=5)