CSIQ
Canadian Solar Inc.
CSIQ lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
CSIQ Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Weak |
CSIQ's revenue, profitability, cash flow and balance sheet are all currently under pressure.
CSIQ PE Valuation
CSIQ has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 10x next year's earnings.
CSIQ Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect CSIQ to return to profit, with revenue growing. However, they disagree widely on these estimates.
CSIQ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.00 | — |
| Q2 2026 | -$2.75 | -$2.44 |
| Q1 2026 | -$1.51 | -$1.15 |
| Q4 2025 | -$1.73 | -433% |
| Q3 2025 | $0.03 | +50% |
| Q2 2025 | -$0.31 | -156% |
| Q1 2025 | -$0.36 | -113% |
| Q4 2024 | $0.52 | -86% |
| Q3 2024 | $0.02 | -100% |
CSIQ lost $2.75 per share over the past year, a bigger loss than the year before.
CSIQ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.2B | -29% |
| Q1 2026 | $1.1B | -9.9% |
| Q4 2025 | $1.2B | -20% |
| Q3 2025 | $1.5B | -1.3% |
| Q2 2025 | $1.7B | +3.6% |
| Q1 2025 | $1.2B | -10% |
| Q4 2024 | $1.5B | -11% |
| Q3 2024 | $1.5B | -18% |
CSIQ's revenue has slid since its 2023 peak: $1.2B last quarter, down 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -5.9% | -13 points |
| Q1 2026 | 6.8% | +11 points |
| Q4 2025 | -5.3% | +3.1 points |
| Q3 2025 | 2.3% | +2.3 points |
| Q2 2025 | 7.5% | +4.6 points |
| Q1 2025 | -4.6% | -7.2 points |
| Q4 2024 | -8.3% | -7.2 points |
| Q3 2024 | 0% | -4.5 points |
CSIQ's operating margin was −5.9% last quarter, down 13 points from the same quarter a year ago, near the bottom of its range since 2019.
CSIQ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$375M | -$171.1M |
| Q1 2026 | -$401.9M | +$247.4M |
| Q4 2025 | -$396M | -$144.5M |
| Q3 2025 | -$406.5M | +$309M |
| Q2 2025 | -$203.9M | +$626.7M |
| Q1 2025 | -$649.3M | +$82M |
| Q4 2024 | -$251.5M | -198% |
| Q3 2024 | -$715.5M | -$488.6M |
CSIQ has burned cash in most quarters: −$1.6B over the past year, against −$1.8B the year before.
CSIQ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +89.8K shares |
| 1 year | +1.4% | +945K shares |
| 3 years | -5.3% | -3.8M shares |
| 5 years | +11% | +6.6M shares |
| Available history | +12% | +7.1M shares |
CSIQ has 68M diluted shares, up 1.4% from a year ago, despite $25M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $25.1M |
| Q3 2025 | $271,563 |
| Q2 2025 | $24.2M |
| Q1 2025 | $21.4M |
| Q4 2024 | $1.7M |
| Q3 2024 | $7.1M |
CSIQ spent $25M buying back its own shares over the past year, down 53% from the year before.
CSIQ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 69.2x | High |
| Q1 2026 | 21.3x | High |
| Q4 2025 | 31.5x | High |
| Q3 2025 | 16.1x | High |
| Q2 2025 | 16.1x | High |
| Q1 2025 | 19.6x | High |
| Q4 2024 | 7.4x | High |
| Q3 2024 | 6.9x | High |
CSIQ's net debt is more than 20 years of its operating earnings (EBITDA), up from 16 years a year ago.
CSIQ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.5 | Neutral |
| Stochastic | 17.6 | Oversold |
CSIQ's weekly RSI is 39 (neutral) and its Stochastic is 18 (oversold).
CSIQ PE vs Energy Sector
| Metric | CSIQ | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
CSIQ has no meaningful PE right now: it lost money over the past year.
CSIQ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.4 | 3% below |
| 20 week MA | $12.6 | 20% below |
| 50 week MA | $16.1 | 38% below |
| 100 week MA | $14.4 | 30% below |
| 200 week MA | $19.5 | 48% below |
CSIQ is in a downtrend: it's below all five of its weekly moving averages, and 48% below its 200-week average.
CSIQ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.8 | $52.7 | +142% |
| 2021 | $52.7 | $31.1 | -41% |
| 2022 | $31.1 | $31.0 | -0.3% |
| 2023 | $31.0 | $26.2 | -15% |
| 2024 | $26.2 | $11.4 | -57% |
| 2025 | $11.4 | $24.2 | +112% |
| 2026 YTD | $24.2 | $10.0 | -58% |
CSIQ's yearly returns have swung widely, from +142% in 2020 to −57% in 2024. It's down 58% so far in 2026.