CSI Solar Co. Ltd. A vs First Solar: Fair Value & Quality
Both stocks run through our valuation models. Here is how CSI Solar Co. Ltd. A (688472) and First Solar (FSLR) compare, as of Aug 14, 2026.
As of Aug 14, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: CSI Solar Co. Ltd. A trades at ¥10.28 versus a fair value of ¥6.76 (-34%), while First Solar trades at $224 versus $392 (+75%).
CSI Solar Co. Ltd. A
688472.SHG · CNY · Technology
-34%
upside to fair value
overvalued
Price¥10.28
Fair Value¥6.76
Quality34/100
First Solar
FSLR · USD · Information Technology
+75%
upside to fair value
undervalued
Price$224
Fair Value$392
Quality65/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
CSI Solar Co. Ltd. AFirst Solar
Valuation
25.3×P/E (TTM)14.7×
0.98×P/S (TTM)4.52×
1.62×P/B2.57×
5.5×EV/EBITDA9.7×
0.40×PEG0.60×
1.0%Dividend yield—
¥0.10Dividend per share—
Profitability
4%Net margin31%
12%Operating margin33%
7%Return on equity18%
3%Return on assets8%
Growth
-17%Revenue growth (YoY)24%
-5.4%Avg. growth/yr (3Y)25.8%
—Avg. growth/yr (5Y)14.0%
Balance & size
0.31×Debt / equity0.03×
$6BMarket cap$24B
mixedGrowth qualityhealthy
First Solar leads: 4 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
CSI Solar Co. Ltd. Aof which business quality 37 · market factors 28First Solarof which business quality 66 · market factors 35
ProfitabilityMargins and returns on capital today
26
56
Quality GrowthAre margins and returns improving?
11
54
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
22
14
Low VolatilityCalm price path (market factor)
43
8
MomentumPrice trend over the last 3–12 months (market factor)
17
45
52W MomentumDistance to the 52-week high (market factor)
30
47
Net IssuanceBuybacks instead of dilution
56
80
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
CSI Solar Co. Ltd. A
DCF Models¥6.80
Earnings-Based¥5.05
Dividend Discount¥2.58
Multiples¥9.39
Asset-Based¥4.30
Growth DCF¥2.18
Economic Profit¥6.45
Growth Earnings¥5.85
17 of 22 models see the stock below the current price.
First Solar
DCF Models$463
Earnings-Based$310
Multiples$318
Asset-Based$59.47
Growth DCF$348
Economic Profit$202
Growth Earnings$471
3 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
CSI Solar Co. Ltd. A
Bear ¥4.86Fair Value ¥6.76Bull ¥9.44
¥10.28 = current price (white tick)
First Solar
Bear $224Fair Value $392Bull $485
$224 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
CSI Solar Co. Ltd. A · Technology
Quality score34 · bottom 25%
Fair value upside-34% · below median
First Solar · Information Technology
Quality score65 · Top 25%
Fair value upside+75% · Top 25%
Bottom line
As of Aug 14, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: CSI Solar Co. Ltd. A trades at ¥10.28 versus a fair value of ¥6.76 (-34%), while First Solar trades at $224 versus $392 (+75%).
First Solar has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
