Canadian Solar Inc. - Understand $csiq stock

$CSIQ Market Cap: $798.7 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$6.513B

TTM

Gross Margin

16.37%

TTM

Net Earnings

$36.69M

TTM

Current Assets

$5.780B

Q2 2024

Current Liabilities

$5.579B

Q2 2024

Current Ratio

103.6%

Q2 2024

Total Assets

$12.14B

Q2 2024

Total Liabilities

$9.481B

Q2 2024

Book Value

$2.656B

Q2 2024

Cash

$1.620B

Q2 2024

P/E

21.77

Nov 29, 2024 EST

Free Cash Flow

-$2.077B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$7.614B	$7.469B	$5.277B	$3.477B	$3.201B	$3.745B	$3.390B	$2.853B	$3.468B	$2.961B	$1.654B	$1.295B	$1.899B	$1.496B	$631.0M	$705.0M	$302.8M	$68.20M	$18.30M	$9.700M	$4.100M
YoY Change	1.94%	41.53%	51.8%	8.62%	-14.53%	10.44%	18.83%	-17.72%	17.12%	78.95%	27.77%	-31.81%	26.97%	137.0%	-10.5%	132.83%	343.99%	272.68%	88.66%	136.59%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$7.614B	$7.469B	$5.277B	$3.477B	$3.201B	$3.745B	$3.390B	$2.853B	$3.468B	$2.961B	$1.654B	$1.295B	$1.899B	$1.496B	$631.0M	$705.0M	$302.8M	$68.20M	$18.30M	$9.700M	$4.100M
Cost Of Revenue	$6.334B	$6.205B	$4.368B	$2.787B	$2.482B	$2.969B	$2.753B	$2.436B	$2.891B	$2.380B	$1.379B	$1.205B	$1.717B	$1.267B	$552.9M	$634.0M	$279.0M	$55.90M	$11.20M	$6.500M	$2.400M
Gross Profit	$1.280B	$1.263B	$909.3M	$689.9M	$718.5M	$775.1M	$637.6M	$417.2M	$576.8M	$581.0M	$275.7M	$90.40M	$182.3M	$228.8M	$78.10M	$71.00M	$23.80M	$12.30M	$7.100M	$3.200M	$1.700M
Gross Profit Margin	16.81%	16.91%	17.23%	19.84%	22.45%	20.7%	18.81%	14.62%	16.63%	19.62%	16.66%	6.98%	9.6%	15.3%	12.38%	10.07%	7.86%	18.04%	38.8%	32.99%	41.46%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Selling, General & Admin	$810.2M	$901.1M	$707.6M	$449.8M	$423.1M	$410.8M	$387.0M	$349.2M	$312.3M	$202.6M	$133.2M	$219.9M	$155.6M	$101.6M	$68.40M	$45.10M	$24.70M	$10.80M	$1.900M	$1.300M	$1.100M
YoY Change	-10.09%	27.34%	57.31%	6.31%	2.99%	6.15%	10.82%	11.82%	54.15%	52.1%	-39.43%	41.32%	53.15%	48.54%	51.66%	82.59%	128.7%	468.42%	46.15%	18.18%
% of Gross Profit	63.29%	71.33%	77.82%	65.2%	58.89%	53.0%	60.7%	83.7%	54.14%	34.87%	48.31%	243.25%	85.35%	44.41%	87.58%	63.52%	103.78%	87.8%	26.76%	40.63%	64.71%
Research & Development	$100.8M	$69.82M	$58.41M	$45.20M	$47.00M	$44.20M	$28.80M	$17.40M	$17.10M	$12.10M	$11.70M	$13.00M	$19.80M	$6.800M	$3.200M	$1.800M	$1.000M	$400.0K	$0.00	$0.00	$0.00
YoY Change	44.43%	19.54%	29.22%	-3.83%	6.33%	53.47%	65.52%	1.75%	41.32%	3.42%	-10.0%	-34.34%	191.18%	112.5%	77.78%	80.0%	150.0%
% of Gross Profit	7.88%	5.53%	6.42%	6.55%	6.54%	5.7%	4.52%	4.17%	2.96%	2.08%	4.24%	14.38%	10.86%	2.97%	4.1%	2.54%	4.2%	3.25%	0.0%	0.0%	0.0%
Depreciation & Amortization	$307.0M	$234.6M	$282.8M	$209.1M	$159.7M	$129.3M	$99.30M	$95.80M	$94.20M	$82.60M	$80.80M	$81.40M	$56.10M	$31.30M	$20.50M	$9.300M	$1.600M	$200.0K	$100.0K	$0.00	$0.00
YoY Change	30.9%	-17.05%	35.23%	30.93%	23.51%	30.21%	3.65%	1.7%	14.04%	2.23%	-0.74%	45.1%	79.23%	52.68%	120.43%	481.25%	700.0%	100.0%
% of Gross Profit	23.99%	18.57%	31.1%	30.31%	22.23%	16.68%	15.57%	22.96%	16.33%	14.22%	29.31%	90.04%	30.77%	13.68%	26.25%	13.1%	6.72%	1.63%	1.41%	0.0%	0.0%
Operating Expenses	$826.7M	$907.1M	$766.0M	$495.0M	$459.6M	$410.5M	$368.2M	$324.0M	$329.4M	$214.7M	$144.8M	$232.8M	$175.5M	$108.5M	$71.50M	$47.00M	$25.80M	$11.20M	$1.900M	$1.300M	$1.100M
YoY Change	-8.86%	18.42%	54.75%	7.7%	11.96%	11.49%	13.64%	-1.64%	53.42%	48.27%	-37.8%	32.65%	61.75%	51.75%	52.13%	82.17%	130.36%	489.47%	46.15%	18.18%
Operating Profit	$453.3M	$356.1M	$143.3M	$194.9M	$258.9M	$364.6M	$269.4M	$93.20M	$247.4M	$366.3M	$130.9M	-$142.4M	$6.800M	$120.3M	$6.600M	$24.00M	-$2.000M	$1.100M	$5.200M	$1.900M	$600.0K
YoY Change	27.32%	148.45%	-26.47%	-24.72%	-28.99%	35.34%	189.06%	-62.33%	-32.46%	179.83%	-191.92%	-2194.12%	-94.35%	1722.73%	-72.5%	-1300.0%	-281.82%	-78.85%	173.68%	216.67%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Interest Expense	-$44.80M	$407.0K	-$51.92M	-$85.90M	-$79.20M	-$66.20M	-$134.8M	-$8.300M	-$24.30M	-$47.10M	-$75.00M	-$56.10M	-$81.20M	-$52.90M	$13.20M	-$14.20M	$900.0K	-$10.50M	-$800.0K	$0.00	$0.00
YoY Change	-11106.14%	-100.78%	-39.56%	8.46%	19.64%	-50.89%	1524.1%	-65.84%	-48.41%	-37.2%	33.69%	-30.91%	53.5%	-500.76%	-192.96%	-1677.78%	-108.57%	1212.5%
% of Operating Profit	-9.88%	0.11%	-36.23%	-44.07%	-30.59%	-18.16%	-50.04%	-8.91%	-9.82%	-12.86%	-57.3%		-1194.12%	-43.97%	200.0%	-59.17%		-954.55%	-15.38%	0.0%	0.0%
Other Income/Expense, Net	-$44.80M	$407.0K	-$51.92M	-$85.95M			$0.00	$0.00	$400.0K	$1.600M	$400.0K				$0.00	$0.00	$700.0K	$400.0K	$0.00	$0.00	$0.00
YoY Change	-11106.14%	-100.78%	-39.59%					-100.0%	-75.0%	300.0%						-100.0%	75.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Pretax Income	$408.5M	$356.5M	$138.5M	$134.5M	$179.7M	$298.5M	$134.5M	$87.70M	$223.5M	$320.8M	$56.30M	-$198.6M	-$74.40M	$67.40M	$21.50M	$2.100M	-$300.0K	-$9.000M	$4.400M	$1.800M	$700.0K
YoY Change	14.6%	157.44%	2.95%	-25.15%	-39.8%	121.93%	53.36%	-60.76%	-30.33%	469.8%	-128.35%	166.94%	-210.39%	213.49%	923.81%	-800.0%	-96.67%	-304.55%	144.44%	157.14%
Income Tax	$59.50M	$73.35M	$35.84M	-$2.000M	$42.10M	$62.00M	$41.00M	$18.00M	$49.50M	$77.40M	$7.600M	-$5.400M	$16.50M	$16.80M	-$1.300M	$9.700M	-$200.0K	$400.0K	$600.0K	$400.0K	$0.00
% Of Pretax Income	14.56%	20.58%	25.89%	-1.49%	23.43%	20.77%	30.48%	20.52%	22.15%	24.13%	13.5%			24.93%	-6.05%	461.9%			13.64%	22.22%	0.0%
Net Earnings	$274.2M	$240.0M	$95.25M	$146.7M	$171.6M	$237.1M	$99.60M	$65.20M	$171.9M	$239.5M	$31.70M	-$195.5M	-$90.80M	$50.60M	$22.60M	-$7.500M	-$200.0K	-$9.400M	$3.800M	$1.500M	$800.0K
YoY Change	14.26%	151.94%	-35.07%	-14.51%	-27.63%	138.05%	52.76%	-62.07%	-28.23%	655.52%	-116.21%	115.31%	-279.45%	123.89%	-401.33%	3650.0%	-97.87%	-347.37%	153.33%	87.5%
Net Earnings / Revenue	3.6%	3.21%	1.8%	4.22%	5.36%	6.33%	2.94%	2.29%	4.96%	8.09%	1.92%	-15.1%	-4.78%	3.38%	3.58%	-1.06%	-0.07%	-13.78%	20.77%	15.46%	19.51%
Basic Earnings Per Share	$4.19	$3.73	$1.55	$2.46
Diluted Earnings Per Share	$3.80	$3.37	$1.383M	$2.355M	$2.822M	$3.806M	$1.620M	$1.122M	$2.846M	$4.032M	$629.0K	-$4.525M	-$2.107M	$1.158M	$599.5K	-$237.3K	-$7.326K	-$494.7K	$246.8K	$97.40K	$51.95K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Cash & Short-Term Investments	$1.939B	$981.4M	$869.8M	$1.179B	$668.8M	$444.3M	$561.7M	$511.0M	$553.1M	$549.5M	$228.2M	$142.0M	$344.0M	$288.7M	$160.1M	$115.7M	$37.70M	$40.90M	$6.300M	$2.100M	$1.900M
YoY Change	97.54%	12.83%	-26.21%	76.26%	50.53%	-20.9%	9.92%	-7.61%	0.66%	140.8%	60.7%	-58.72%	19.15%	80.32%	38.38%	206.9%	-7.82%	549.21%	200.0%	10.53%
Cash & Equivalents	$1.939B	$981.4M	$869.8M	$1.179B	$668.8M	$444.3M	$561.7M	$511.0M	$553.1M	$549.5M	$228.2M	$142.0M	$344.0M	$288.7M	$160.1M	$115.7M	$37.70M	$40.90M	$6.300M	$2.100M	$1.900M
Short-Term Investments
Other Short-Term Assets	$1.767B	$1.903B	$1.822B	$1.765B	$1.438B	$1.746B	$2.698B	$2.506B	$792.3M	$915.4M	$944.9M	$741.1M	$237.5M	$260.6M	$238.5M	$61.60M	$40.40M	$16.70M	$5.000M	$600.0K	$200.0K
YoY Change	-7.13%	4.44%	3.22%	22.77%	-17.64%	-35.28%	7.65%	216.28%	-13.45%	-3.12%	27.5%	212.04%	-8.86%	9.27%	287.18%	52.48%	141.92%	234.0%	733.33%	200.0%
Inventory	$1.180B	$1.524B	$1.192B	$696.0M	$554.1M	$262.0M	$346.1M	$295.4M	$334.5M	$432.3M	$231.2M	$274.5M	$296.6M	$272.1M	$164.3M	$92.70M	$70.90M	$39.70M	$12.20M	$2.400M	$300.0K
Prepaid Expenses
Receivables	$1.006B	$1.029B	$688.6M	$437.4M	$452.1M	$498.3M	$359.3M	$403.7M	$435.0M	$394.1M	$294.6M	$260.1M	$380.7M	$169.7M	$151.5M	$51.60M	$58.60M	$17.30M	$2.100M	$600.0K	$300.0K
Other Receivables	$203.3M	$207.4M	$198.9M	$108.3M	$140.1M	$123.9M	$120.6M	$74.70M	$149.2M	$24.50M	$20.40M	$24.50M	$36.80M	$43.60M	$39.50M	$17.50M	$12.30M	$2.300M	$900.0K	$100.0K	$100.0K
Total Short-Term Assets	$6.095B	$5.645B	$4.772B	$4.186B	$3.253B	$3.074B	$4.085B	$3.791B	$2.264B	$2.316B	$1.719B	$1.442B	$1.296B	$1.035B	$754.0M	$339.0M	$219.9M	$116.9M	$26.40M	$5.700M	$2.800M
YoY Change	7.99%	18.29%	14.0%	28.68%	5.81%	-24.75%	7.77%	67.43%	-2.24%	34.69%	19.22%	11.32%	25.22%	37.23%	122.42%	54.16%	88.11%	342.8%	363.16%	103.57%
Property, Plant & Equipment	$4.277B	$2.227B	$1.545B	$1.343B	$1.137B	$939.9M	$811.2M	$574.4M	$1.532B	$469.3M	$407.6M	$469.6M	$510.1M	$330.5M	$217.1M	$165.5M	$51.50M	$7.900M	$900.0K	$500.0K	$200.0K
YoY Change	92.05%	44.1%	15.09%	18.13%	20.94%	15.87%	41.23%	-62.49%	226.34%	15.14%	-13.2%	-7.94%	54.34%	52.23%	31.18%	221.36%	551.9%	777.78%	80.0%	150.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$236.9M	$115.8M	$98.82M	$78.30M	$152.8M	$126.1M	$414.2M	$368.5M	$187.1M	$38.80M	$34.10M	$26.70M	$11.00M	$5.700M	$7.100M	$3.000M	$0.00
YoY Change	104.63%	17.17%	26.21%	-48.76%	21.17%	-69.56%	12.4%	96.95%	382.22%	13.78%	27.72%	142.73%	92.98%	-19.72%	136.67%
Other Assets	$1.234B	$998.7M	$953.3M	$907.5M	$901.9M	$736.5M	$561.7M	$656.9M	$344.7M	$241.8M	$287.0M	$316.4M	$52.40M	$49.90M	$60.50M	$63.10M	$13.10M	$4.800M	$100.0K	$0.00	$0.00
YoY Change	23.6%	4.77%	5.04%	0.62%	22.46%	31.12%	-14.49%	90.57%	42.56%	-15.75%	-9.29%	503.82%	5.01%	-17.52%	-4.12%	381.68%	172.92%	4700.0%
Total Long-Term Assets	$5.800B	$3.392B	$2.617B	$2.351B	$2.214B	$1.818B	$1.804B	$1.616B	$2.150B	$756.5M	$734.3M	$817.1M	$584.2M	$388.7M	$284.7M	$231.7M	$64.60M	$12.70M	$1.000M	$400.0K	$300.0K
YoY Change	70.98%	29.66%	11.29%	6.18%	21.77%	0.78%	11.67%	-24.84%	184.18%	3.02%	-10.13%	39.87%	50.3%	36.53%	22.87%	258.67%	408.66%	1170.0%	150.0%	33.33%
Total Assets	$11.90B	$9.037B	$7.388B	$6.537B	$5.467B	$4.893B	$5.890B	$5.407B	$4.414B	$3.072B	$2.454B	$2.259B	$1.880B	$1.423B	$1.039B	$570.7M	$284.5M	$129.6M	$27.40M	$6.100M	$3.100M
YoY Change
Accounts Payable	$813.7M	$805.3M	$503.0M	$514.7M	$585.6M	$379.5M	$403.0M	$440.1M	$512.5M	$412.9M	$280.8M	$461.6M	$174.4M	$113.4M	$92.30M	$29.30M	$8.300M	$6.900M	$4.300M	$800.0K	$400.0K
YoY Change	1.04%	60.1%	-2.27%	-12.11%	54.31%	-5.83%	-8.43%	-14.13%	24.12%	47.04%	-39.17%	164.68%	53.79%	22.86%	215.02%	253.01%	20.29%	60.47%	437.5%	100.0%
Accrued Expenses	$20.20M	$9.810M	$12.19M	$15.20M	$18.80M														$800.0K	$600.0K	$100.0K
YoY Change	105.95%	-19.49%	-19.84%	-19.15%															33.33%	500.0%
Deferred Revenue
YoY Change
Short-Term Debt	$878.3M	$1.493B	$1.974B	$1.623B	$1.364B	$497.2M	$572.6M	$428.1M	$473.2M	$388.1M	$358.6M	$0.00	$131.6M	$10.00M	$105.2M	$600.0K	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-41.19%	-24.33%	21.58%	19.0%	174.34%	-13.17%	33.75%	-9.53%	21.93%	8.23%		-100.0%	1216.0%	-90.49%	17433.33%
Long-Term Debt Due	$1.805B	$1.444B	$519.3M	$510.4M	$426.3M	$1.294B	$1.958B	$1.600B	$1.157B	$725.5M	$778.5M	$858.9M	$743.7M	$540.5M	$251.7M	$110.7M	$40.40M	$3.300M	$1.300M	$0.00	$0.00
YoY Change	25.03%	178.04%	1.74%	19.73%	-67.05%	-33.92%	22.36%	38.34%	59.42%	-6.81%	-9.36%	15.49%	37.59%	114.74%	127.37%	174.01%	1124.24%	153.85%
Total Short-Term Liabilities	$5.864B	$5.215B	$4.038B	$3.588B	$3.092B	$2.948B	$4.108B	$3.721B	$2.656B	$1.949B	$1.778B	$1.540B	$1.236B	$775.3M	$514.9M	$172.7M	$59.20M	$15.90M	$15.40M	$2.800M	$1.200M
YoY Change	12.46%	29.13%	12.53%	16.05%	4.87%	-28.23%	10.4%	40.09%	36.27%	9.61%	15.46%	24.58%	59.47%	50.57%	198.15%	191.72%	272.33%	3.25%	450.0%	133.33%
Long-Term Debt	$1.655B	$1.039B	$779.7M	$671.7M	$632.6M	$393.6M	$530.8M	$619.0M	$753.3M	$284.3M	$151.4M	$214.6M	$89.20M	$70.40M	$30.20M	$46.20M	$92.90M	$0.00	$4.500M	$0.00	$0.00
YoY Change	59.23%	33.3%	16.08%	6.18%	60.72%	-25.85%	-14.25%	-17.83%	164.97%	87.78%	-29.45%	140.58%	26.7%	133.11%	-34.63%	-50.27%		-100.0%
Other Long-Term Liabilities	$588.3M	$409.9M	$395.9M	$335.0M	$261.1M	$242.1M	$185.5M	$143.8M	$152.8M	$96.40M	$87.50M	$101.6M	$87.20M	$42.70M	$27.60M	$19.60M	$6.200M	$900.0K	$600.0K	$400.0K	$300.0K
YoY Change	43.53%	3.54%	18.18%	28.3%	7.85%	30.51%	29.0%	-5.89%	58.51%	10.17%	-13.88%	16.51%	104.22%	54.71%	40.82%	216.13%	588.89%	50.0%	50.0%	33.33%
Total Long-Term Liabilities	$2.243B	$1.449B	$1.176B	$1.007B	$893.7M	$635.7M	$716.3M	$762.8M	$906.1M	$380.7M	$238.9M	$316.2M	$176.4M	$113.1M	$57.80M	$65.80M	$99.10M	$900.0K	$5.100M	$400.0K	$300.0K
YoY Change	54.79%	23.28%	16.78%	12.64%	40.59%	-11.25%	-6.1%	-15.82%	138.01%	59.36%	-24.45%	79.25%	55.97%	95.67%	-12.16%	-33.6%	10911.11%	-82.35%	1175.0%	33.33%
Total Liabilities	$9.337B	$7.095B	$5.587B	$4.966B	$4.074B	$3.667B	$4.857B	$4.522B	$3.595B	$2.356B	$2.063B	$1.968B	$1.414B	$889.0M	$573.0M	$238.4M	$158.2M	$16.70M	$20.50M	$3.200M	$1.500M
YoY Change	31.58%	26.99%	12.5%	21.9%	11.1%	-24.5%	7.42%	25.78%	52.6%	14.18%	4.82%	39.22%	59.04%	55.15%	140.35%	50.7%	847.31%	-18.54%	540.63%	113.33%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020
Basic Shares Outstanding	65.38M	64.32M	61.61M	59.58M
Diluted Shares Outstanding	72.19M	71.18M	68.87M	62.31M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $798.73 Million

About Canadian Solar Inc.

Canadian Solar, Inc. engages in the manufacture of solar photovoltaic modules, provision of solar energy and battery storage solutions, and development of utility-scale solar and battery storage products. The company is headquartered in Guelph, Ontario and currently employs 22,234 full-time employees. The company went IPO on 2006-11-09. The firm is a manufacturer of solar photovoltaic modules, a provider of solar energy and battery energy storage solutions, and a developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. The company operates through two segments: Recurrent Energy, and CSI Solar. The Recurrent Energy segment is vertically integrated and has expertise in greenfield origination, development, financing, execution, operations and maintenance, and asset management. The CSI Solar segment consists of solar module and battery energy storage manufacturing, and delivery of total system solutions, including inverters, solar system kits, and engineering, procurement, and construction (EPC) services. The company has developed, built, and connected around 10 GWp of solar power projects and 3.3 GWh of battery energy storage projects across the world.

Industry: Semiconductors & Related Devices Peers: META MATERIALS INC.