CSIQ Chart
About

Canadian Solar Inc., together with its subsidiaries, provides solar energy and battery energy storage products and solutions in Asia, the Americas, Europe, and internationally. It operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products. It also offers standard solar modules and battery storage solutions, solar system kits, such as splar modules, inverters, racking systems, and other accessories; power electronic products; and engineering, procurement, and construction (EPC) services, as well as operates battery energy storage projects. The Recurrent Energy segment engages in the development, construction, maintenance, and sale of solar power and battery energy storage projects; operates solar power plants; and sells electricity and related services. This segment provides operation and maintenance (O&M) services, including monitoring, inspections, repair, and replacement of plant equipment, and site management and administrative support services for solar projects, as well as asset management services. It has a fleet of solar and battery energy storage plants in operation with an aggregate capacity of approximately 3929 MWh. It serves distributors, system integrators, project developers, and installers/EPC companies. Additionally, it caters to utility companies, public utilities, licensed suppliers, corporate offtakers, and commercial, industrial, or government end users primarily under its Canadian Solar brand name. Canadian Solar Inc. was incorporated in 2001 and is based in Kitchener, Canada.

Fundamentals
Scroll to Statements
Sector Technology Industry Solar Market Cap 1.43B
Enterprise Value 7.83B Income 16.11M Sales 5.90B
Book/sh 42.42 Cash/sh 26.08 Dividend Yield —
Payout 0.00% Employees 17113 IPO —
P/E — Forward P/E -24.90 PEG —
P/S 0.24 P/B 0.50 P/C —
EV/EBITDA 11.92 EV/Sales 1.33 Quick Ratio 0.52
Current Ratio 1.07 Debt/Eq 152.63 LT Debt/Eq —
EPS (ttm) -0.19 EPS next Y -0.86 EPS Growth —
Revenue Growth -1.30% Earnings 2026-03-19 ROA 0.43%
ROE -4.39% ROIC — Gross Margin 19.53%
Oper. Margin 2.33% Profit Margin 0.27% Shs Outstand 66.97M
Shs Float 47.24M Short Float 28.53% Short Ratio 3.03
Short Interest — 52W High 34.59 52W Low 6.57
Beta 1.30 Avg Volume 3.46M Volume 1.49M
Target Price $21.60 Recom None Prev Close $20.70
Price $21.37 Change 3.24%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$21.60
Mean price target
2. Current target
$21.37
Latest analyst target
3. DCF / Fair value
$-326.27
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$21.37
Low
$10.00
High
$38.00
Mean
$21.60

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-11-19 main UBS Buy → Buy $37
2025-11-19 down Mizuho Outperform → Underperform $21
2025-11-17 main Roth Capital Neutral → Neutral $30
2025-11-14 main JP Morgan Underweight → Underweight $10
2025-11-03 down Jefferies Buy → Hold $20
2025-10-21 down Citigroup Neutral → Sell $11
2025-10-16 main JP Morgan Underweight → Underweight $9
2025-10-08 main Goldman Sachs Sell → Sell $10
2025-09-19 main JP Morgan Underweight → Underweight $8
2025-09-17 main UBS Buy → Buy $15
2025-09-03 main Wells Fargo Equal-Weight → Equal-Weight $10
2025-08-22 main Mizuho Outperform → Outperform $15
2025-08-21 main Citigroup Neutral → Neutral $11
2025-07-20 main Citigroup Neutral → Neutral $13
2025-07-14 main Mizuho Outperform → Outperform $17
2025-06-02 main Mizuho Outperform → Outperform $15
2025-05-19 main Mizuho Outperform → Outperform $17
2025-05-16 main Goldman Sachs Sell → Sell $9
2025-05-16 main Wells Fargo Equal-Weight → Equal-Weight $11
2025-04-30 main Mizuho Outperform → Outperform $16
Insider Transactions

No recent insider transactions.

Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-644.60K2.65M7.15M984.10K
TaxRateForCalcs0.200.150.210.26
NormalizedEBITDA559.83M811.98M631.24M475.60M
TotalUnusualItems-3.22M17.68M34.06M3.79M
TotalUnusualItemsExcludingGoodwill-3.22M17.68M34.06M3.79M
NetIncomeFromContinuingOperationNetMinorityInterest36.05M274.19M239.97M95.25M
ReconciledDepreciation501.44M307.04M234.56M282.77M
ReconciledCostOfRevenue4.99B6.33B6.21B4.37B
EBITDA556.61M829.66M665.29M479.39M
EBIT55.17M522.62M430.73M196.62M
NetInterestIncome-49.00M-62.48M-33.65M-47.10M
InterestExpense137.47M114.10M74.27M58.15M
InterestIncome88.47M51.62M40.62M11.05M
NormalizedIncome38.63M259.16M213.06M92.45M
NetIncomeFromContinuingAndDiscontinuedOperation36.05M274.19M239.97M95.25M
TotalExpenses6.02B7.16B7.11B5.10B
TotalOperatingIncomeAsReported-30.08M453.32M356.06M190.38M
DilutedAverageShares66.94M72.19M71.18M68.87M
BasicAverageShares66.62M65.38M64.32M61.61M
DilutedEPS0.543.873.441.46
BasicEPS0.544.193.731.55
DilutedNIAvailtoComStockholders36.05M279.48M245.15M100.55M
AverageDilutionEarnings0.005.29M5.18M5.30M
NetIncomeCommonStockholders36.05M274.19M239.97M95.25M
NetIncome36.05M274.19M239.97M95.25M
MinorityInterests113.91M-89.45M-58.59M-14.63M
NetIncomeIncludingNoncontrollingInterests-77.86M363.63M298.56M109.88M
NetIncomeContinuousOperations-77.86M363.63M298.56M109.88M
EarningsFromEquityInterestNetOfTax-12.14M14.61M15.44M7.26M
TaxProvision-16.58M59.50M73.35M35.84M
PretaxIncome-82.30M408.52M356.47M138.46M
OtherIncomeExpense-3.22M17.68M34.06M3.79M
SpecialIncomeCharges5.10M4.26M8.60M
GainOnSaleOfPPE5.10M4.26M10.01M
OtherSpecialCharges1.41M
GainOnSaleOfSecurity-3.22M17.68M34.06M-4.82M
NetNonOperatingInterestIncomeExpense-49.00M-62.48M-33.65M-47.10M
InterestExpenseNonOperating137.47M114.10M74.27M58.15M
InterestIncomeNonOperating88.47M51.62M40.62M11.05M
OperatingIncome-30.08M453.32M356.06M181.78M
OperatingExpense1.03B826.66M907.08M727.53M
OtherOperatingExpenses-94.54M-84.34M-63.80M-38.47M
ResearchAndDevelopment120.79M100.84M69.82M58.41M
SellingGeneralAndAdministration1.00B810.16M901.05M707.59M
SellingAndMarketingExpense487.95M369.67M558.93M398.65M
GeneralAndAdministrativeExpense515.20M440.49M342.13M308.94M
OtherGandA515.20M440.49M342.13M308.94M
InsuranceAndClaims0.001.41M
GrossProfit999.32M1.28B1.26B909.31M
CostOfRevenue4.99B6.33B6.21B4.37B
TotalRevenue5.99B7.61B7.47B5.28B
OperatingRevenue5.99B7.61B7.47B5.28B
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber66.95M66.16M64.51M64.02M
ShareIssued66.95M66.16M64.51M64.02M
NetDebt3.92B2.40B3.03B2.35B
TotalDebt5.91B4.48B4.04B3.26B
TangibleBookValue2.78B2.54B1.92B1.78B
InvestedCapital8.43B6.90B5.95B5.02B
WorkingCapital498.17M231.06M385.89M733.68M
NetTangibleAssets2.78B2.54B1.92B1.78B
CapitalLeaseObligations293.18M137.05M35.52M35.40M
CommonStockEquity2.82B2.56B1.94B1.80B
TotalCapitalization5.69B4.21B3.01B2.55B
TotalEquityGrossMinorityInterest4.15B3.71B2.31B2.13B
MinorityInterest1.33B1.15B365.06M325.36M
StockholdersEquity2.82B2.56B1.94B1.80B
GainsLossesNotAffectingRetainedEarnings-196.38M-118.74M-170.55M-50.58M
OtherEquityAdjustments-196.38M-118.74M-170.55M-50.58M
RetainedEarnings1.59B1.55B1.28B1.04B
AdditionalPaidInCapital590.58M292.74M1.13M-19.43M
CapitalStock835.54M835.54M835.54M835.54M
CommonStock835.54M835.54M835.54M835.54M
TotalLiabilitiesNetMinorityInterest9.36B8.19B6.73B5.26B
TotalNonCurrentLiabilitiesNetMinorityInterest3.94B2.33B1.47B1.22B
OtherNonCurrentLiabilities588.07M471.45M308.30M388.93M
NonCurrentAccruedExpenses5.00M15.15M
NonCurrentDeferredLiabilities204.83M82.83M66.63M48.15M
NonCurrentDeferredTaxesLiabilities204.83M82.83M66.63M48.15M
LongTermDebtAndCapitalLeaseObligation3.15B1.77B1.10B771.52M
LongTermCapitalLeaseObligation271.85M116.85M25.71M23.21M
LongTermDebt2.88B1.65B1.07B748.31M
CurrentLiabilities5.42B5.86B5.26B4.04B
OtherCurrentLiabilities402.20M594.53M318.37M245.41M
CurrentDeferredLiabilities204.83M392.31M334.94M135.51M
CurrentDeferredRevenue204.83M392.31M334.94M135.51M
CurrentDebtAndCapitalLeaseObligation2.76B2.70B2.95B2.49B
CurrentCapitalLeaseObligation21.33M20.20M9.81M12.19M
CurrentDebt2.74B2.68B2.94B2.47B
OtherCurrentBorrowings2.10B1.81B1.44B1.59B
CurrentNotesPayable637.51M878.28M1.49B881.18M
PayablesAndAccruedExpenses2.05B2.17B1.66B1.17B
Payables2.05B2.17B1.66B1.17B
OtherPayable984.02M1.36B853.04M667.85M
DuetoRelatedPartiesCurrent3.93M511.00K89.00K143.00K
AccountsPayable1.06B813.68M805.30M503.00M
TotalAssets13.51B11.90B9.04B7.39B
TotalNonCurrentAssets7.59B5.80B3.39B2.62B
OtherNonCurrentAssets1.13B838.70M636.03M611.52M
NonCurrentPrepaidAssets118.12M132.22M65.35M34.24M
NonCurrentDeferredAssets473.50M263.46M229.23M236.50M
NonCurrentDeferredTaxesAssets473.50M263.46M229.23M236.50M
DuefromRelatedPartiesNonCurrent75.22M32.31M33.49M0.00
NonCurrentAccountsReceivable75.22M32.31M33.49M
InvestmentsAndAdvances232.98M236.93M115.78M98.82M
LongTermEquityInvestment232.98M236.93M115.78M98.82M
InvestmentsinAssociatesatCost98.82M
GoodwillAndOtherIntangibleAssets31.03M19.73M17.53M18.99M
OtherIntangibleAssets31.03M19.73M17.53M18.99M
NetPPE5.53B4.28B2.30B1.62B
AccumulatedDepreciation-1.38B-1.09B-925.98M-1.03B
GrossPPE6.91B5.37B3.22B2.65B
Leases188.78M44.27M30.90M32.81M
ConstructionInProgress1.34B1.12B568.56M105.66M
OtherProperties1.65B769.84M276.31M223.64M
MachineryFurnitureEquipment2.71B2.41B1.54B1.54B
BuildingsAndImprovements967.76M978.92M764.58M720.37M
LandAndImprovements56.23M45.40M39.28M31.69M
Properties0.000.000.000.00
CurrentAssets5.92B6.10B5.64B4.77B
OtherCurrentAssets831.01M564.39M653.90M1.03B
HedgingAssetsCurrent14.03M9.28M17.52M7.29M
RestrictedCash551.39M999.93M978.12M560.63M
PrepaidAssets124.44M193.82M253.48M225.88M
Inventory1.21B1.18B1.52B1.19B
FinishedGoods816.27M817.70M948.59M919.43M
WorkInProcess157.29M139.12M265.11M117.51M
RawMaterials233.03M222.83M310.39M155.43M
Receivables1.49B1.21B1.24B887.54M
OtherReceivables142.60M101.44M57.77M37.24M
DuefromRelatedPartiesCurrent5.22M40.58M48.61M73.04M
TaxesReceivable221.54M162.74M158.77M125.88M
AccountsReceivable1.12B904.94M970.95M651.37M
AllowanceForDoubtfulAccountsReceivable-76.14M-56.80M-49.93M-47.13M
GrossAccountsReceivable1.19B961.75M1.02B698.50M
CashCashEquivalentsAndShortTermInvestments1.70B1.94B981.43M869.83M
CashAndCashEquivalents1.70B1.94B981.43M869.83M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-2.76B-840.85M288.63M-837.75M
RepurchaseOfCapitalStock0.000.00
RepaymentOfDebt-1.62B-1.64B-1.71B-1.90B
IssuanceOfDebt3.28B2.67B2.16B2.38B
IssuanceOfCapitalStock482.24M0.000.00148.51M
CapitalExpenditure-1.87B-1.53B-628.00M-429.50M
InterestPaidSupplementalData130.96M121.67M76.51M71.01M
IncomeTaxPaidSupplementalData113.91M83.08M77.40M57.40M
EndCashPosition2.26B2.95B1.97B1.43B
OtherCashAdjustmentOutsideChangeinCash0.00
BeginningCashPosition2.95B1.97B1.43B1.64B
EffectOfExchangeRateChanges-154.60M-89.10M-179.56M18.32M
ChangesInCash-527.81M1.07B714.78M-223.75M
FinancingCashFlow2.32B2.05B428.64M614.07M
CashFlowFromContinuingFinancingActivities2.32B2.05B428.64M614.07M
NetOtherFinancingCharges179.89M1.02B-14.49M-7.30M
ProceedsFromStockOptionExercised0.000.00
CashDividendsPaid0.00
CommonStockDividendPaid0.00
NetPreferredStockIssuance482.24M0.000.00
PreferredStockIssuance482.24M0.000.00
NetCommonStockIssuance0.000.00148.51M
CommonStockPayments0.000.00
CommonStockIssuance0.000.00148.51M
NetIssuancePaymentsOfDebt1.66B1.03B443.12M472.87M
NetShortTermDebtIssuance224.04M-37.33M-308.03M-137.82M
ShortTermDebtPayments-1.55B-1.60B-1.70B-1.88B
ShortTermDebtIssuance1.77B1.57B1.39B1.74B
NetLongTermDebtIssuance1.43B1.07B751.15M610.68M
LongTermDebtPayments-72.21M-39.80M-19.22M-23.09M
LongTermDebtIssuance1.51B1.11B770.37M633.77M
InvestingCashFlow-1.96B-1.67B-630.49M-429.57M
CashFlowFromContinuingInvestingActivities-1.96B-1.67B-630.49M-429.57M
NetOtherInvestingChanges12.53M-23.10M16.86M
NetInvestmentPurchaseAndSale-64.65M0.000.000.00
PurchaseOfInvestment-64.65M0.000.000.00
NetBusinessPurchaseAndSale-39.73M-122.85M-19.36M-37.02M
SaleOfBusiness3.06M7.08M16.98M
PurchaseOfBusiness-39.73M-122.85M-19.36M-54.00M
NetPPEPurchaseAndSale-1.87B-1.53B-628.00M-392.55M
SaleOfPPE10.38M9.78M36.95M
PurchaseOfPPE-1.87B-1.53B-628.00M-429.50M
OperatingCashFlow-885.32M684.62M916.63M-408.25M
CashFlowFromContinuingOperatingActivities-885.32M684.62M916.63M-408.25M
ChangeInWorkingCapital-1.65B-189.74M236.36M-886.75M
ChangeInOtherWorkingCapital-308.73M5.56M130.65M-121.38M
ChangeInOtherCurrentLiabilities-325.55M-253.36M789.53M180.79M
ChangeInOtherCurrentAssets-697.81M-349.83M-302.84M-53.02M
ChangeInPayablesAndAccruedExpense359.05M183.06M351.12M126.13M
ChangeInAccruedExpense23.87M-9.62M-10.94M
ChangeInPayable359.05M183.06M351.12M137.07M
ChangeInAccountPayable268.21M13.12M351.54M11.02M
ChangeInPrepaidAssets-37.26M32.64M98.77M-116.17M
ChangeInInventory-312.52M182.77M-406.34M-518.74M
ChangeInReceivables-329.18M9.43M-424.52M-384.35M
ChangesInAccountReceivables-221.48M58.98M-357.28M-284.79M
OtherNonCashItems44.41M18.78M16.22M83.56M
StockBasedCompensation21.40M55.34M9.37M8.81M
ProvisionandWriteOffofAssets39.06M12.01M5.77M7.62M
AssetImpairmentCharge272.29M135.26M69.84M37.31M
DeferredTax-98.20M-17.91M16.91M
DeferredIncomeTax-98.20M-17.91M16.91M
DepreciationAmortizationDepletion501.44M307.04M234.56M282.77M
DepreciationAndAmortization501.44M307.04M234.56M282.77M
AmortizationCashFlow4.60M
AmortizationOfIntangibles4.60M
Depreciation278.17M
OperatingGainsLosses64.13M198.00K29.05M-51.44M
EarningsLossesFromEquityInvestments12.14M-14.61M-15.44M-7.26M
GainLossOnInvestmentSecurities51.99M14.81M44.49M-23.79M
GainLossOnSaleOfPPE-5.10M-4.26M-10.01M
GainLossOnSaleOfBusiness0.000.00-10.39M
NetIncomeFromContinuingOperations-77.86M363.63M298.56M109.88M
SEC Filings

No SEC filings found for this symbol (may be non-US or ticker not in SEC index).

Public Trades for CSIQ
Date User Asset Broker Type Position Size Entry Price Patterns