Canadian Solar Inc (CSIQ) Fair Value & Analysis
Technology · US · Market cap $1.1B · ISIN CA1366351098
What is Canadian Solar Inc really worth?
Canadian Solar Inc
CSIQ · US
Below-average quality, trading 67% below our fair value of $40.59.
Strengths
Risks
Fair value as of: Sep 1, 2026
From 2 valuation models · updated 4 days ago
Fair value updated Sep 1, 2026, revised from $73.65 to $40.59 (−44.9%) since Aug 27, 2026. Share price −17.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case ($18.74). The market is more pessimistic than our downside scenario.
- The model range is unusually wide ($18.74 to $62.44). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range $6.76 – $47.12 · fair‑value band $18.74 – $62.44 · the $13.53 price screens below the $40.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Canadian Solar Inc (CSIQ) currently trades at $13.53, while our model-based Fair Value estimate is $40.59, implying the stock looks roughly 66.7% undervalued today. The Quality Score stands at 29/100 (below-average quality), in the Technology sector. How firm this estimate is: it rests on 6 models at a data quality of 80/100, which puts the evidence level at low.
Over the trailing twelve months, Canadian Solar Inc generated revenue of $5.5B at a net margin of −1.9%. Revenue declined 9.9% year over year. It earns a return on equity of −2.9%. Net debt stands at $5.8B. Fundamentals as of Sep 1, 2026
Our scenario range runs from $18.74 (bear case) to $62.44 (bull case); at $13.53, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 61% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 200%, CSIQ screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 2 models by family
Widest divergence: Multiples ($130.54) versus Asset-Based ($27.71). Highest evidence: EV/EBITDA (67).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 30 · Market factors (momentum, volatility) 32
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Canadian Solar Inc., together with its subsidiaries, provides solar energy and battery energy storage products and solutions in Asia, the United States, Europe, and internationally. It operates through two segments, Manufacturing and Recurrent Energy.
Full company description
Canadian Solar Inc., together with its subsidiaries, provides solar energy and battery energy storage products and solutions in Asia, the United States, Europe, and internationally. It operates through two segments, Manufacturing and Recurrent Energy. The Manufacturing Segment focuses on manufacturing and selling solar, battery energy storage and other power technology products, and CSI Solar. It also offers standard solar modules, battery storage solutions, solar system kits, such as inverters, racking systems, and other accessories; power electronic products; and engineering, procurement, and construction services, as well as operates battery energy storage projects. The Recurrent Energy Segment develops, builds, sells, and operates solar power and battery energy storage projects; operates solar power plants; and sells electricity and other services. This segment also provides power operation and maintenance services, including monitor, inspects, repair, and replace of plant equipment, and site management and administrative support services for solar projects, as well as asset management services. The company offers power plant level, commercial, household products, inverter, photovoltaic modules; and sells electricity and smart energy. It serves distributors, system integrators, project developers, installers, and EPC companies, as well as caters to utility companies, public utilities, licensed suppliers, corporate offtakers, and commercial, industrial, or government end users primarily under its Canadian Solar brand name. The company sells its products under CSI, CS PowerTech, CSI Solar, Recurrent Energy, e-STORAGE, SolBank, KuBank, and EP Cube brand names. Canadian Solar Inc. was incorporated in 2001 and is based in Kitchener, Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Canadian Solar Inc reported revenue of $5.6B in FY2025 versus $5.3B in FY2021, a compound +1.5%/yr. Reported net income was −$104M in FY2025.
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Peer Group
Solar · 109 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $210.10 | $392.12 | +87% |
| Nextpower Inc NXT | $103.67 | $69.61 | −33% |
| Waaree Energies Limited WAAREEENER | ₹2,624 | ₹2,709 | +3% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | −6% |
| Jinko Solar Co 688223 | ¥4.16 | ¥6.47 | +56% |
| Enphase Energy, Inc ENPH | $39.25 | $24.15 | −38% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | −34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | −36% |
| Trina Solar Co 688599 | ¥12.77 | ¥7.97 | −38% |
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