CANADIAN SOLAR INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.15 USD | +4.48% |
|
+5.14% | -42.24% |
| Apr. 23 | Maxeon Solar Files Patent Infringement Lawsuit Against Hanwha Q Over Cell Technology | MT |
| Apr. 22 | Maxeon Solar Files Patent Infringement Lawsuit Against Hanwha Q Over Cell Technology | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 848.3 | 1,323 | 3,025 | 1,991 | 1,986 | 1,002 | 1,002 | - |
| Enterprise Value (EV) 1 | 2,219 | 2,493 | 3,917 | 3,463 | 3,488 | 3,217 | 4,033 | 3,516 |
| P/E ratio | 3.7 x | 7.81 x | 21.5 x | 21.4 x | 8.98 x | 6.78 x | 4.69 x | 3.26 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.23 x | 0.41 x | 0.87 x | 0.38 x | 0.27 x | 0.22 x | 0.12 x | 0.1 x |
| EV / Revenue | 0.59 x | 0.78 x | 1.13 x | 0.66 x | 0.47 x | 0.42 x | 0.46 x | 0.34 x |
| EV / EBITDA | 4.49 x | 5.96 x | 9.14 x | 7.32 x | 5.9 x | 4.69 x | 4.39 x | 2.93 x |
| EV / FCF | -22.2 x | 8.07 x | -8.6 x | -4.14 x | 12 x | -7.45 x | -3.06 x | -5.65 x |
| FCF Yield | -4.51% | 12.4% | -11.6% | -24.2% | 8.3% | -13.4% | -32.6% | -17.7% |
| Price to Book | 0.69 x | 0.92 x | 2.2 x | 0.94 x | - | 0.33 x | 0.32 x | 0.28 x |
| Nbr of stocks (in thousands) | 59,159 | 59,859 | 59,042 | 63,638 | 64,269 | 66,163 | 66,163 | - |
| Reference price 2 | 14.34 | 22.10 | 51.24 | 31.29 | 30.90 | 15.15 | 15.15 | 15.15 |
| Announcement Date | 3/21/19 | 3/26/20 | 3/18/21 | 3/17/22 | 3/21/23 | 3/14/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,745 | 3,201 | 3,476 | 5,277 | 7,469 | 7,614 | 8,689 | 10,196 |
| EBITDA 1 | 494.1 | 418.2 | 428.4 | 473.2 | 591.1 | 686.4 | 918.4 | 1,201 |
| EBIT 1 | 364.7 | 258.9 | 220.4 | 190.4 | 356.1 | 453.3 | 499.5 | 669.2 |
| Operating Margin | 9.74% | 8.09% | 6.34% | 3.61% | 4.77% | 5.95% | 5.75% | 6.56% |
| Earnings before Tax (EBT) 1 | 298.5 | 179.7 | 134.5 | 138.5 | 356.5 | 408.5 | 460.3 | 612.3 |
| Net income 1 | 237.1 | 171.6 | 146.7 | 95.25 | 240 | 274.2 | 249.1 | 344.9 |
| Net margin | 6.33% | 5.36% | 4.22% | 1.8% | 3.21% | 3.6% | 2.87% | 3.38% |
| EPS 2 | 3.880 | 2.830 | 2.380 | 1.460 | 3.440 | 3.870 | 3.233 | 4.648 |
| Free Cash Flow 1 | -100 | 308.9 | -455.5 | -837 | 289.5 | -431.8 | -1,316 | -622.3 |
| FCF margin | -2.67% | 9.65% | -13.1% | -15.86% | 3.88% | -5.67% | -15.15% | -6.1% |
| FCF Conversion (EBITDA) | - | 73.87% | - | - | 48.98% | - | - | - |
| FCF Conversion (Net income) | - | 180.04% | - | - | 120.65% | - | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 3/21/19 | 3/26/20 | 3/18/21 | 3/17/22 | 3/21/23 | 3/14/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,229 | 1,529 | 1,250 | 2,314 | 1,932 | 1,972 | 1,701 | 2,364 | 1,846 | 1,702 | 1,287 | 2,086 | 2,526 | 2,754 | 1,954 |
| EBITDA 1 | 112.2 | 151.2 | 81.52 | 179.1 | 144.7 | 185.8 | 213.6 | 224.2 | 159 | 89.58 | 131.3 | 243.9 | 299.8 | 337.3 | 292.1 |
| EBIT 1 | 41.22 | 67.42 | 15.52 | 116.1 | 88.67 | 135.8 | 145.6 | 224.1 | 83.02 | 0.577 | 22.88 | 127 | 176.7 | 196.8 | 232 |
| Operating Margin | 3.35% | 4.41% | 1.24% | 5.02% | 4.59% | 6.89% | 8.56% | 9.48% | 4.5% | 0.03% | 1.78% | 6.09% | 7% | 7.14% | 11.87% |
| Earnings before Tax (EBT) 1 | 31.43 | 64.48 | 2.025 | 114.1 | 128.4 | 112 | 128.2 | 238.8 | 56.51 | -15.05 | 3.062 | 116.6 | 170.5 | 194.8 | 159 |
| Net income 1 | 35.24 | 25.96 | 9.207 | 74.46 | 78.46 | 77.83 | 83.71 | 170 | 21.89 | -1.386 | -1.485 | 57.24 | 90.48 | 104.5 | 81.64 |
| Net margin | 2.87% | 1.7% | 0.74% | 3.22% | 4.06% | 3.95% | 4.92% | 7.19% | 1.19% | -0.08% | -0.12% | 2.74% | 3.58% | 3.8% | 4.18% |
| EPS 2 | 0.5200 | 0.3900 | 0.1400 | 1.070 | 1.120 | 1.110 | 1.190 | 2.390 | 0.3200 | -0.0200 | -0.0188 | 0.6714 | 1.123 | 1.333 | 0.2178 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/18/21 | 3/17/22 | 5/24/22 | 8/18/22 | 11/22/22 | 3/21/23 | 5/18/23 | 8/22/23 | 11/14/23 | 3/14/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,170 | 892 | 1,471 | 1,502 | 1,522 | 3,030 | 2,514 | 2,427 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.798 x | 2.081 x | 3.11 x | 2.541 x | 2.217 x | 3.3 x | 2.094 x | 1.625 x |
| Free Cash Flow 1 | 309 | -455 | -837 | 290 | -432 | -1,316 | -622 | -89.5 |
| ROE (net income / shareholders' equity) | 10.1% | 8.9% | 5.65% | 12.8% | 12.2% | 6.68% | 7.89% | 12.8% |
| ROA (Net income/ Total Assets) | 2.55% | 2.2% | 1.37% | 2.92% | 2.62% | 1.35% | 1.63% | - |
| Assets 1 | 6,721 | 6,668 | 6,963 | 8,213 | 10,466 | 18,454 | 21,117 | - |
| Book Value Per Share 2 | 24.00 | 23.30 | 33.20 | - | - | 47.80 | 54.60 | 55.10 |
| Cash Flow per Share | 9.870 | -1.930 | - | - | - | - | - | - |
| Capex 1 | 291 | 335 | 429 | 627 | 1,116 | 1,783 | 1,114 | 1,217 |
| Capex / Sales | 9.1% | 9.63% | 8.12% | 8.4% | 14.66% | 20.52% | 10.93% | 10.41% |
| Announcement Date | 3/26/20 | 3/18/21 | 3/17/22 | 3/21/23 | 3/14/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
15.15
USD
Average target price
28.86
USD
Spread / Average Target
+90.51%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -42.24% | 1B | |
| -18.69% | 19.47B | |
| +3.74% | 19.13B | |
| -15.29% | 15.23B | |
| -13.38% | 13.47B | |
| -13.32% | 10.6B | |
| +37.48% | 7.64B | |
| -16.81% | 7.26B | |
| -30.07% | 6.63B | |
| +16.23% | 6.03B |
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