(CSIQ) Canadian Solar - Overview
Stock: Solar Modules, Battery Storage, Solar Kits, Power Electronics, EPC Services
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 87.4% |
| Relative Tail Risk | -8.75% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.12 |
| Alpha | 71.06 |
| Character TTM | |
|---|---|
| Beta | 2.091 |
| Beta Downside | 2.327 |
| Drawdowns 3y | |
|---|---|
| Max DD | 84.48% |
| CAGR/Max DD | -0.25 |
Description: CSIQ Canadian Solar December 25, 2025
Canadian Solar Inc. (NASDAQ:CSIQ) designs, manufactures, and sells solar modules, battery-energy-storage products, and related EPC services through its CSI Solar segment, while its Recurrent Energy segment develops, builds, operates, and maintains utility-scale solar and storage projects, currently operating roughly 3,929 MWh of capacity worldwide.
The company serves a broad customer base-including distributors, system integrators, utilities, corporate offtakers, and government entities-under the Canadian Solar brand, leveraging its vertically integrated model to capture value from module production to long-term O&M contracts.
Key recent metrics: FY 2023 revenue of $5.5 billion, a gross margin of ≈ 15 %, and a project pipeline exceeding 15 GW of solar capacity slated for construction through 2026, positioning the firm to benefit from the accelerating global renewable-energy build-out.
Primary economic drivers include the U.S. Inflation Reduction Act’s tax credits, which are spurring domestic solar and storage deployments, and the continued decline in PV module prices-now averaging ≈ $0.20 per W-which improves project economics and expands market demand.
Given these fundamentals, a deeper dive into CSIQ’s valuation assumptions on ValueRay could help clarify the risk-adjusted upside potential.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: 16.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.11 > 0.02 and ΔFCF/TA 3.27 > 1.0 |
| NWC/Revenue: 7.07% < 20% (prev 5.98%; Δ 1.10% < -1%) |
| CFO/TA -0.01 > 3% & CFO -118.7m > Net Income 16.1m |
| Net Debt (5.64b) to EBITDA (135.1m): 41.71 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (67.6m) vs 12m ago 1.03% < -2% |
| Gross Margin: 18.97% > 18% (prev 0.16%; Δ 1881 % > 0.5%) |
| Asset Turnover: 40.77% > 50% (prev 44.81%; Δ -4.03% > 0%) |
| Interest Coverage Ratio: 0.76 > 6 (EBITDA TTM 135.1m / Interest Expense TTM 165.1m) |
Altman Z'' 0.80
| A: 0.03 (Total Current Assets 6.39b - Total Current Liabilities 5.97b) / Total Assets 15.16b |
| B: 0.10 (Retained Earnings 1.57b / Total Assets 15.16b) |
| C: 0.01 (EBIT TTM 125.9m / Avg Total Assets 14.47b) |
| D: 0.21 (Book Value of Equity 2.29b / Total Liabilities 10.80b) |
| Altman-Z'' Score: 0.80 = B |
Beneish M -2.79
| DSRI: 1.23 (Receivables 1.31b/1.12b, Revenue 5.90b/6.17b) |
| GMI: 0.85 (GM 18.97% / 16.13%) |
| AQI: 1.35 (AQ_t 0.20 / AQ_t-1 0.15) |
| SGI: 0.96 (Revenue 5.90b / 6.17b) |
| TATA: 0.01 (NI 16.1m - CFO -118.7m) / TA 15.16b) |
| Beneish M-Score: -2.79 (Cap -4..+1) = A |
What is the price of CSIQ shares?
Over the past week, the price has changed by +4.00%, over one month by -15.29%, over three months by -25.62% and over the past year by +93.29%.
Is CSIQ a buy, sell or hold?
- StrongBuy: 4
- Buy: 0
- Hold: 5
- Sell: 2
- StrongSell: 0
What are the forecasts/targets for the CSIQ price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 21.6 | 8.6% |
| Analysts Target Price | 21.6 | 8.6% |
| ValueRay Target Price | 20.4 | 2.4% |
CSIQ Fundamental Data Overview January 31, 2026
P/S = 0.2244
P/B = 0.4616
P/EG = 0.1632
Revenue TTM = 5.90b USD
EBIT TTM = 125.9m USD
EBITDA TTM = 135.1m USD
Long Term Debt = 3.73b USD (from longTermDebt, last quarter)
Short Term Debt = 3.32b USD (from shortTermDebt, last quarter)
Debt = 7.40b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.64b USD (from netDebt column, last quarter)
Enterprise Value = 6.96b USD (1.32b + Debt 7.40b - CCE 1.76b)
Interest Coverage Ratio = 0.76 (Ebit TTM 125.9m / Interest Expense TTM 165.1m)
EV/FCF = -4.03x (Enterprise Value 6.96b / FCF TTM -1.73b)
FCF Yield = -24.80% (FCF TTM -1.73b / Enterprise Value 6.96b)
FCF Margin = -29.26% (FCF TTM -1.73b / Revenue TTM 5.90b)
Net Margin = 0.27% (Net Income TTM 16.1m / Revenue TTM 5.90b)
Gross Margin = 18.97% ((Revenue TTM 5.90b - Cost of Revenue TTM 4.78b) / Revenue TTM)
Gross Margin QoQ = 17.23% (prev 29.82%)
Tobins Q-Ratio = 0.46 (Enterprise Value 6.96b / Total Assets 15.16b)
Interest Expense / Debt = 0.60% (Interest Expense 44.4m / Debt 7.40b)
Taxrate = 21.0% (US default 21%)
NOPAT = 99.5m (EBIT 125.9m * (1 - 21.00%))
Current Ratio = 1.07 (Total Current Assets 6.39b / Total Current Liabilities 5.97b)
Debt / Equity = 2.58 (Debt 7.40b / totalStockholderEquity, last quarter 2.87b)
Debt / EBITDA = 41.71 (Net Debt 5.64b / EBITDA 135.1m)
Debt / FCF = -3.27 (negative FCF - burning cash) (Net Debt 5.64b / FCF TTM -1.73b)
Total Stockholder Equity = 2.83b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.11% (Net Income 16.1m / Total Assets 15.16b)
RoE = 0.57% (Net Income TTM 16.1m / Total Stockholder Equity 2.83b)
RoCE = 1.92% (EBIT 125.9m / Capital Employed (Equity 2.83b + L.T.Debt 3.73b))
RoIC = 1.08% (NOPAT 99.5m / Invested Capital 9.22b)
WACC = 2.47% (E(1.32b)/V(8.72b) * Re(13.62%) + D(7.40b)/V(8.72b) * Rd(0.60%) * (1-Tc(0.21)))
Discount Rate = 13.62% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 1.19%
Fair Price DCF = unknown (Cash Flow -1.73b)
EPS Correlation: -72.58 | EPS CAGR: -2.31% | SUE: 0.61 | # QB: 0
Revenue Correlation: -34.64 | Revenue CAGR: -0.73% | SUE: 0.96 | # QB: 1
EPS next Quarter (2026-03-31): EPS=-0.67 | Chg30d=-0.356 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=-0.86 | Chg30d=-0.697 | Revisions Net=-1 | Growth EPS=+67.4% | Growth Revenue=+30.5%