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 CSIQ
 CSIQ 
Canadian Solar Inc (CSIQ)


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Upturn Advisory Summary
10/30/2025: CSIQ (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $12.67
1 Year Target Price $12.67
| 4 | Strong Buy | 
| 0 | Buy | 
| 5 | Hold | 
| 2 | Sell | 
| 0 | Strong Sell | 
Analysis of Past Performance
|  Type  Stock |  Historic Profit  -41.47% |  Avg. Invested days  21 |  Today’s Advisory  Consider higher Upturn Star rating  | 
|  Upturn Star Rating   |  Upturn Advisory Performance   2.0 |  Stock Returns Performance   1.0 | 
|  Profits based on simulation |  Last Close 10/30/2025 | 
Key Highlights
|  Company Size  Small-Cap Stock  |  Market Capitalization  1.18B  USD  |  Price to earnings Ratio  -  |  1Y Target Price  12.67  | 
|  Price to earnings Ratio  -  |  1Y Target Price  12.67  | ||
|  Volume (30-day avg)  11  |  Beta  1.28  |  52 Weeks Range  6.57 - 18.64  |  Updated Date  10/29/2025  | 
|  52 Weeks Range  6.57 - 18.64  |  Updated Date  10/29/2025  | ||
|  Dividends yield (FY)  -  |  Basic EPS (TTM)  -0.44  | 
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
|  Report Date  2025-10-27  |  When  Before Market  |  Estimate  -0.3399  |  Actual  -  | 
Profitability
|  Profit Margin  -0.12%  |  Operating Margin (TTM)  7.52%  | 
Management Effectiveness
|  Return on Assets (TTM)  0.3%  |  Return on Equity (TTM)  -4.32%  | 
Valuation
|  Trailing PE  -  |  Forward PE  11.16  |  Enterprise Value  6291951196  |  Price to Sales(TTM)  0.2  | 
|  Enterprise Value  6291951196  |  Price to Sales(TTM)  0.2  | ||
|  Enterprise Value to Revenue  1.06  |  Enterprise Value to EBITDA  16.52  |  Shares Outstanding  66972246  |  Shares Floating  45733540  | 
|  Shares Outstanding  66972246  |  Shares Floating  45733540  | ||
|  Percent Insiders  31.91  |  Percent Institutions  40.78  | 
 Upturn AI SWOT
 Upturn AI SWOT 
Canadian Solar Inc

Company Overview
 History and Background
 History and Background 
Founded in 2001 in Canada, Canadian Solar Inc. (CSIQ) has grown into a leading global solar energy company. Initially focused on solar module manufacturing, it expanded into project development and energy storage solutions. Its milestones include multiple rounds of fundraising in the early 2000s and expansion into international markets, achieving a fully vertically integrated business model.
 Core Business Areas
 Core Business Areas 
- Module and System Solutions: This segment involves the design, manufacturing, and sale of solar modules, wafers, and other solar system components. This is the core revenue driver for the company.
- Energy: This segment focuses on the development, construction, and operation of solar power projects, as well as energy storage solutions.
- Recurrent Energy: This segment focuses on the company's portfolio of solar projects under development, construction, or in operation.
 Leadership and Structure
 Leadership and Structure 
Shawn Qu is the Chairman, President, and CEO. The company operates with a hierarchical structure, with various departments overseeing manufacturing, project development, and sales, reporting to executive leadership.
Top Products and Market Share
 Key Offerings
 Key Offerings 
- HiKu Modules: High-efficiency solar modules designed for utility-scale, commercial, and residential applications. Market share of HiKu modules is part of the total module market share, which fluctuates but is generally around 7-10% globally. Competitors include Jinko Solar, JA Solar, and LONGi Green Energy Technology.
- Ku Modules: High-efficiency multi-crystalline modules. The Ku module market is smaller as technology shifts to mono perc. Key competitors are the same as HiKu modules. Estimated percentage of Ku module is included within the overall HiKu Module percentage.
- Turnkey Solar Solutions: Complete solar power solutions, including engineering, procurement, and construction (EPC) services. This market is very fragmented, with many regional players. Competitors include Array Technologies, SunPower, and First Solar.
Market Dynamics
 Industry Overview
 Industry Overview 
The solar energy industry is experiencing rapid growth, driven by increasing demand for renewable energy and declining costs of solar technology. Government incentives and environmental concerns further fuel this expansion.
Positioning
Canadian Solar is a major player in the solar module manufacturing market and a growing force in project development. Its competitive advantage lies in its vertically integrated business model, cost-effective manufacturing, and global presence.
Total Addressable Market (TAM)
The global solar energy market is expected to reach hundreds of billions of dollars in the next decade. Canadian Solar is well-positioned to capture a significant share of this market, focusing on both module sales and project development.
Upturn SWOT Analysis
Strengths
- Vertically integrated business model
- Cost-effective manufacturing
- Global presence and brand recognition
- Strong R&D capabilities
- Large project pipeline
Weaknesses
- Dependence on government subsidies and incentives
- Exposure to fluctuations in raw material prices
- High debt levels
- Geopolitical risks in certain markets
Opportunities
- Growing demand for renewable energy
- Expansion into new markets (e.g., energy storage)
- Technological advancements in solar technology
- Strategic acquisitions and partnerships
- Increased corporate sustainability initiatives
Threats
- Increased competition from other solar manufacturers
- Changes in government policies and regulations
- Trade barriers and tariffs
- Economic downturns
- Supply chain disruptions
Competitors and Market Share
 Key Competitors
 Key Competitors 
- JKS
- SEDG
- ENPH
Competitive Landscape
Canadian Solar faces intense competition in both the module manufacturing and project development markets. Its key advantages include its vertically integrated business model and cost-effective manufacturing. However, it faces challenges from competitors with stronger brand recognition or more advanced technologies.
Major Acquisitions
eNow
- Year: 2023
- Acquisition Price (USD millions): 36
- Strategic Rationale: Acquired eNow to expand into the electric vehicle and eMobility space
Growth Trajectory and Initiatives
Historical Growth: Canadian Solar has experienced significant revenue growth over the past decade, driven by increased demand for solar energy. However, profitability has been volatile due to fluctuations in module prices and project development costs.
Future Projections: Analyst estimates project continued revenue growth for Canadian Solar, driven by expansion in emerging markets and increasing demand for energy storage solutions. Profitability is expected to improve as the company benefits from economies of scale and technological advancements.
Recent Initiatives: Recent initiatives include expanding manufacturing capacity, developing new solar technologies, and securing project development agreements in key markets.
Summary
Canadian Solar is a significant player in the solar industry with strengths in manufacturing and project development. Its vertically integrated model and global presence are advantageous. Challenges include dependence on subsidies and competition. Strategic initiatives in energy storage and emerging markets could drive future growth.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Filings (SEC)
- Industry Reports (e.g., IEA, BloombergNEF)
- Analyst Reports (e.g., Refinitiv, Bloomberg)
- Company Website (Investor Relations)
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual research and consultation with a qualified financial advisor. Market share estimates are approximate and may vary depending on the source and methodology.
 AI Summarization is directionally correct and might not be accurate.
 AI Summarization is directionally correct and might not be accurate. 
 Summarized information shown could be a few years old and not current.
 Summarized information shown could be a few years old and not current. 
 Fundamental Rating based on AI could be based on old data.
 Fundamental Rating based on AI could be based on old data. 
 AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
 AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action. 
About Canadian Solar Inc
|  Exchange  NASDAQ  |  Headquaters  Kitchener, ON, Canada  | ||
|  IPO Launch date  2006-11-09  |  Chairman, President & CEO  Dr. Xiaohua  Qu Ph.D.  | ||
|  Sector  Technology  |  Industry  Solar  |  Full time employees  17113  |  Website  https://www.canadiansolar.com  | 
|  Full time employees  17113  |  Website  https://www.canadiansolar.com  | ||
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.

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