(CSIQ) Canadian Solar - Overview

Sector: Technology | Industry: Solar | Exchange: NASDAQ (USA) | Market Cap: 1.213m USD | Total Return: 60.9% in 12m

Solar Modules, Battery Storage, Inverters, Energy Projects
Total Rating 35
Safety 67
Buy Signal 0.11
Solar
Industry Rotation: +27.5
Market Cap: 1.21B
Avg Turnover: 51.7M
Risk 3d forecast
Volatility96.5%
VaR 5th Pctl15.8%
VaR vs Median-0.72%
Reward TTM
Sharpe Ratio0.92
Rel. Str. IBD47.6
Rel. Str. Peer Group7.6
Character TTM
Beta1.874
Beta Downside1.832
Hurst Exponent0.500
Drawdowns 3y
Max DD84.48%
CAGR/Max DD-0.31
CAGR/Mean DD-0.45
EPS (Earnings per Share) EPS (Earnings per Share) of CSIQ over the last years for every Quarter: "2021-03": 0.36, "2021-06": 0.18, "2021-09": 0.42, "2021-12": 0.17, "2022-03": 0.14, "2022-06": 1.07, "2022-09": 1.12, "2022-12": 1.11, "2023-03": 1.19, "2023-06": 2.39, "2023-09": 0.32, "2023-12": -0.02, "2024-03": 0.19, "2024-06": 0.05, "2024-09": -0.31, "2024-12": -1.47, "2025-03": -1.07, "2025-06": -0.53, "2025-09": -0.58, "2025-12": -1.2751, "2026-03": null,
EPS CAGR: -38.26%
EPS Trend: -80.9%
Last SUE: -1.06
Qual. Beats: -1
Revenue Revenue of CSIQ over the last years for every Quarter: 2021-03: 1089.339, 2021-06: 1429.661, 2021-09: 1229.45, 2021-12: 1528.719, 2022-03: 1250.349, 2022-06: 2314.186, 2022-09: 1932.479, 2022-12: 1971.596, 2023-03: 1701.281, 2023-06: 2364.023, 2023-09: 1846.285, 2023-12: 1702.037, 2024-03: 1329.111, 2024-06: 1635.433, 2024-09: 1507.624, 2024-12: 1521.241, 2025-03: 1196.625, 2025-06: 1693.871, 2025-09: 1487.402, 2025-12: 1217.209, 2026-03: 1217.209,
Rev. CAGR: -15.75%
Rev. Trend: -81.5%
Last SUE: 1.54
Qual. Beats: 1

Warnings

High Debt/EBITDA (22.8) with thin interest coverage (0.8)

High Debt while negative Cash Flow

Interest Coverage Ratio 0.8 is critical

Altman Z'' 0.42 < 1.0 - financial distress zone

Tailwinds

Shakeout

Description: CSIQ Canadian Solar

Canadian Solar Inc. (CSIQ) is a vertically integrated solar energy company headquartered in Kitchener, Canada. The firm operates through two primary segments: Manufacturing and Recurrent Energy. The Manufacturing segment produces solar modules, inverters, and battery storage systems, while the Recurrent Energy segment focuses on the development, operation, and maintenance of utility-scale solar and energy storage projects globally.

The company utilizes a diversified business model that spans the entire solar value chain, from hardware production to long-term asset management and electricity sales. By operating in the semiconductor and renewable energy hardware sectors, Canadian Solar benefits from the global transition toward decarbonization and the increasing demand for grid-scale battery storage solutions. For a deeper look at the fundamental metrics driving this company, visit ValueRay.

Headlines to Watch Out For
  • Global solar module oversupply and falling average selling prices compress manufacturing margins
  • Expansion of utility-scale battery energy storage systems drives high-growth recurring revenue
  • High interest rates increase financing costs for large-scale Recurrent Energy project pipelines
  • Trade tariffs and geopolitical tensions impact module export profitability to US markets
  • Vertical integration of silicon-to-module production reduces dependency on external supply chain costs
Piotroski VR‑10 (Strict) 1.5
Net Income: -156.5m TTM > 0 and > 6% of Revenue
FCF/TA: -0.09 > 0.02 and ΔFCF/TA 9.91 > 1.0
NWC/Revenue: -7.49% < 20% (prev 6.91%; Δ -14.40% < -1%)
CFO/TA -0.00 > 3% & CFO -57.2m > Net Income -156.5m
Net Debt (5.77b) to EBITDA (252.4m): 22.85 < 3
Current Ratio: 0.93 > 1.5 & < 3
Outstanding Shares: last quarter (67.7m) vs 12m ago 1.12% < -2%
Gross Margin: 17.99% > 18% (prev 0.15%; Δ 1.78k% > 0.5%)
Asset Turnover: 38.64% > 50% (prev 42.18%; Δ -3.54% > 0%)
Interest Coverage Ratio: 0.78 > 6 (EBITDA TTM 252.4m / Interest Expense TTM 186.1m)
Altman Z'' 0.42
A: -0.03 (Total Current Assets 5.43b - Total Current Liabilities 5.85b) / Total Assets 15.17b
B: 0.10 (Retained Earnings 1.48b / Total Assets 15.17b)
C: 0.01 (EBIT TTM 144.4m / Avg Total Assets 14.53b)
D: 0.21 (Book Value of Equity 2.24b / Total Liabilities 10.90b)
Altman-Z'' Score: 0.42 = B
Beneish M -2.75
DSRI: 1.04 (Receivables 1.33b/1.34b, Revenue 5.62b/5.86b)
GMI: 0.84 (GM 17.99% / 15.14%)
AQI: 1.71 (AQ_t 0.25 / AQ_t-1 0.15)
SGI: 0.96 (Revenue 5.62b / 5.86b)
TATA: -0.01 (NI -156.5m - CFO -57.2m) / TA 15.17b)
Beneish M-Score: -2.75 (Cap -4..+1) = A
What is the price of CSIQ shares? As of May 19, 2026, the stock is trading at USD 17.18 with a total of 2,850,035 shares traded.
Over the past week, the price has changed by -13.45%, over one month by +30.45%, over three months by -13.32% and over the past year by +60.86%.
Is CSIQ a buy, sell or hold? Canadian Solar has received a consensus analysts rating of 3.55. Therefor, it is recommend to hold CSIQ.
  • StrongBuy: 4
  • Buy: 0
  • Hold: 5
  • Sell: 2
  • StrongSell: 0
What are the forecasts/targets for the CSIQ price?
Analysts Target Price 18.3 6.5%
Canadian Solar (CSIQ) - Fundamental Data Overview as of 19 May 2026
P/E Forward = 21.5054
P/S = 0.2167
P/B = 0.4845
P/EG = 0.1632
Revenue TTM = 5.62b USD
EBIT TTM = 144.4m USD
EBITDA TTM = 252.4m USD
Long Term Debt = 3.82b USD (from longTermDebt, last fiscal year)
Short Term Debt = 3.51b USD (from shortTermDebt, last quarter)
Debt = 7.68b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.77b USD (from netDebt column, last quarter)
Enterprise Value = 6.98b USD (1.21b + Debt 7.68b - CCE 1.91b)
Interest Coverage Ratio = 0.78 (Ebit TTM 144.4m / Interest Expense TTM 186.1m)
EV/FCF = -4.98x (Enterprise Value 6.98b / FCF TTM -1.40b)
FCF Yield = -20.09% (FCF TTM -1.40b / Enterprise Value 6.98b)
FCF Margin = -24.97% (FCF TTM -1.40b / Revenue TTM 5.62b)
Net Margin = -2.79% (Net Income TTM -156.5m / Revenue TTM 5.62b)
Gross Margin = 17.99% ((Revenue TTM 5.62b - Cost of Revenue TTM 4.61b) / Revenue TTM)
Gross Margin QoQ = 10.22% (prev 10.22%)
Tobins Q-Ratio = 0.46 (Enterprise Value 6.98b / Total Assets 15.17b)
Interest Expense / Debt = 0.63% (Interest Expense 48.5m / Debt 7.68b)
Taxrate = 21.0% (US default 21%)
NOPAT = 114.1m (EBIT 144.4m * (1 - 21.00%))
Current Ratio = 0.93 (Total Current Assets 5.43b / Total Current Liabilities 5.85b)
Debt / Equity = 2.73 (Debt 7.68b / totalStockholderEquity, last quarter 2.81b)
Debt / EBITDA = 22.85 (Net Debt 5.77b / EBITDA 252.4m)
 Debt / FCF = -4.11 (negative FCF - burning cash) (Net Debt 5.77b / FCF TTM -1.40b)
 Total Stockholder Equity = 2.83b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.08% (Net Income -156.5m / Total Assets 15.17b)
RoE = -5.52% (Net Income TTM -156.5m / Total Stockholder Equity 2.83b)
RoCE = 2.17% (EBIT 144.4m / Capital Employed (Equity 2.83b + L.T.Debt 3.82b))
RoIC = 1.15% (NOPAT 114.1m / Invested Capital 9.88b)
WACC = 2.14% (E(1.21b)/V(8.89b) * Re(12.57%) + D(7.68b)/V(8.89b) * Rd(0.63%) * (1-Tc(0.21)))
Discount Rate = 12.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 61.38 | Cagr: 1.12%
 [DCF] Fair Price = unknown (Cash Flow -1.40b)
 EPS Correlation: -80.89 | EPS CAGR: -38.26% | SUE: -1.06 | # QB: -1
Revenue Correlation: -81.54 | Revenue CAGR: -15.75% | SUE: 1.54 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-1.21 | Chg30d=-40.70% | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.02 | Chg30d=+108.89% | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=-1.90 | Chg30d=+20.34% | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=+11.3%
EPS next Year (2027-12-31): EPS=0.82 | Chg30d=-30.84% | Revisions=N/A | GrowthEPS=+143.3% | GrowthRev=+26.0%