Canadian Solar AI Stock Analysis
Want to see CSIQ full AI Analyst Report?
Canadian Solar (CSIQ) AI Stock Analysis
Canadian Solar
(NASDAQ:CSIQ)
CSIQ scores low primarily due to weak financial performance (losses, high leverage, and deep negative free cash flow) and bearish technicals (price below all key moving averages with negative MACD). The earnings call adds some offset via reiterated volume guidance, improving margin outlook, and large contracted module/storage backlogs, but execution and cash-flow stabilization remain the key requirements for a higher score.
Canadian Solar Key Performance Indicators (KPIs)
Revenue by SegmentShows how revenue is distributed across different business segments, highlighting which areas are driving growth and which may need strategic focus or improvement.
CSI Solar is the clear, lumpy revenue engine while Recurrent Energy is volatile and relatively small — and increasingly a near‑term earnings drag: management flagged Recurrent operating losses and cash burn from project monetization. Growing negative elimination/unallocated items suggest rising intersegment/internal project financing tied to U.S. reshoring efforts, adding noise to reported revenue. The large backlog and planned capacity ramps support medium‑term growth (notably storage), but higher debt, capex and commodity/logistics risks mean margins and cash flow could remain pressured before H2 upside materializes.
The FlyCanadian Solar (CSIQ) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $690.51M
- Dividend Yield
- ―
- Average Volume (3M)
- 1.94M
- Price to Earnings (P/E)
- -3.7
- Beta (1Y)
- 2.05
- Revenue Growth
- -15.70%
- EPS Growth
- -2559.44%
- Country
- US
- Employees
- 12,587
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Solar
Canadian Solar Business Overview & Revenue Model
Company Description
Canadian Solar Inc. and its affiliates operate globally, specializing in the design, development, production, and sale of solar energy components, including ingots, wafers, cells, and modules, alongside a range of solar power and battery storage solu...
How the Company Makes Money
Canadian Solar primarily makes money through two main revenue streams: (1) selling solar PV products and (2) developing and monetizing solar and battery storage projects. In its manufacturing-oriented segment, the company generates revenue by produci...
Canadian Solar Earnings Call Summary
The call presented a mix of substantial strategic and operational progress — notably the U.S. HJT facility opening, strong module and storage volumes, sizable U.S.-focused backlog (>13 GWp, >$4.5B) and a meaningful storage backlog ($3.5B) — alongside notable near-term financial headwinds including a $77M net loss, higher operating expenses (+21% sequential), negative operating cash flow ($181M used), rising debt ($7.1B) and impairment/deferrals in the project development business. Management reiterated full-year operational guidance, provided constructive outlook for Q3 revenue ($1.3–$1.5B) and margins (13.5%–15.5%), and emphasized that ramp-up and freight-driven costs should normalize as U.S. manufacturing scales and policy tailwinds (Section 232) take effect. Given the balance of meaningful strategic wins and clear near-term financial challenges, the overall tone is balanced but cautiously constructive.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For Q3 2026 Canadian Solar guided module revenue recognition of 3.5–3.8 GW and energy storage deliveries of 3.4–3.8 GWh, projecting revenue of $1.3–$1.5 billion and gross margin of 13.5%–15.5%; management reiterated full‑year 2026 U.S. volume guidance of 6.5–7.0 GW of module shipments and 4.5–5.5 GWh of storage. By comparison, Q2 recognized revenue on 3.1 GW of modules and 3.3 GWh of storage, with revenue of $1.2 billion, gross margin 13.9%, net loss attributable to shareholders of $77 million ($1.40/share), manufacturing operating loss of $49 million and Recurrent operating loss of $19 million. Balance‑sheet and backlog metrics cited alongside the outlook included cash of $1.9 billion, total assets $16.1 billion, total debt $7.1 billion, CS PowerTech contracted backlog of >13 GWp (north of $4.5 billion) and e‑STORAGE contracted backlog of $3.5 billion (including 34 GWh of long‑term service agreements), and management reiterated full‑year CapEx of about $1.3 billion (Q2 CapEx $172 million).
Canadian Solar Financial Statement Overview
Summary
Financials are weak: revenue is contracting (TTM -8.9%), profitability has turned negative (negative operating profit and net margin -3.7%), leverage is high (debt-to-equity ~2.65), and cash generation has deteriorated materially (TTM operating cash flow about -$568M; TTM free cash flow about -$1.58B). Liquidity exists (cash cited at $1.9B), but sustained cash burn and elevated debt increase near-term risk.
Income Statement
34NegativeBalance Sheet
40NegativeCash Flow
22Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.99B | 5.60B | 5.99B | 7.61B | 7.47B | 5.28B |
| Gross Profit | 820.00M | 1.03B | 999.32M | 1.28B | 1.26B | 909.31M |
| EBITDA | 84.50M | 592.48M | 556.61M | 829.66M | 665.29M | 479.39M |
| Net Income | -186.30M | -104.13M | 36.05M | 274.19M | 239.97M | 95.25M |
Balance Sheet | ||||||
| Total Assets | 16.11B | 15.17B | 13.51B | 11.90B | 9.04B | 7.39B |
| Cash, Cash Equivalents and Short-Term Investments | 1.46B | 1.91B | 2.25B | 1.96B | 981.43M | 869.83M |
| Total Debt | 7.31B | 7.68B | 5.91B | 4.48B | 4.04B | 3.26B |
| Total Liabilities | 11.86B | 10.90B | 9.36B | 8.19B | 6.73B | 5.26B |
| Stockholders Equity | 2.76B | 2.81B | 2.82B | 2.56B | 1.94B | 1.80B |
Cash Flow | ||||||
| Free Cash Flow | -1.58B | -1.64B | -2.76B | -840.85M | 288.63M | -837.75M |
| Operating Cash Flow | -568.33M | -252.74M | -885.32M | 684.62M | 916.63M | -408.25M |
| Investing Cash Flow | -867.20M | -1.50B | -1.96B | -1.67B | -630.49M | -429.57M |
| Financing Cash Flow | 1.01B | 1.35B | 2.32B | 2.05B | 428.64M | 614.07M |
Canadian Solar Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CSIQ, the sentiment is Negative. The current price of 10.17 is above the 20-day moving average (MA) of 9.88, below the 50-day MA of 11.04, and below the 200-day MA of 14.93, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 47.75 is Neutral, neither overbought nor oversold. The STOCH value of 52.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CSIQ.
Canadian Solar Risk Analysis
Canadian Solar disclosed 63 risk factors in its most recent earnings report. Canadian Solar reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksCanadian Solar Peers Comparison
Overall Rating
FSLR71Outperform
ARRY67Neutral
ENPH51Neutral
JKS44Neutral- CSIQ44Neutral
SEDG43Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| FSLR | 71Outperform | $19.45B | 10.28 | 18.33% | ― | -0.72% | 32.62% |
| ARRY | 67Neutral | $729.69M | -4.53 | -70.85% | ― | -15.87% | -87.66% |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| ENPH | 51Neutral | $3.66B | 41.01 | 7.87% | ― | -19.90% | -53.48% |
| JKS | 44Neutral | $506.11M | -0.31 | -18.67% | 27.42% | -15.19% | 15.25% |
| CSIQ | 44Neutral | $688.47M | -3.70 | -6.62% | ― | -15.70% | -2559.44% |
| SEDG | 43Neutral | $1.60B | -7.00 | -54.65% | ― | 26.11% | 60.72% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| CSIQ | Canadian Solar | 10.17 | -18.45 | -64.47% | |
| ENPH | Enphase Energy Inc | 28.30 | -0.61 | -2.11% | |
| FSLR | First Solar | 178.11 | -78.48 | -30.59% | |
| JKS | Jinkosolar | 10.14 | -14.17 | -58.30% | |
| SEDG | SolarEdge Technologies Inc. | 26.67 | -9.75 | -26.77% | |
| ARRY | Array Technologies Inc | 5.20 | -2.40 | -31.58% |
Canadian Solar Corporate Events
Canadian Solar Reports Steep Q3 2026 Downturn at CSI Solar Subsidiary
On October 29, 2026, Canadian Solar filed a Form 6-K with the U.S. Securities and Exchange Commission to furnish an English version of CSI Solar Co., Ltd.’s third-quarter 2026 report. The filing formally links the Chinese-listed subsidiary’s latest f...
Canadian Solar Posts Q2 2026 Loss as U.S. Manufacturing Push Gains Pace
Canadian Solar reported second quarter 2026 results on August 27, 2026, highlighting solid operational momentum but weaker profitability. The company delivered 3.1 GW of solar modules and 3.7 GWh of battery energy storage shipments, lifting net reven...
Canadian Solar’s Recurrent Energy Secures $695 Million for 330 MW California Cobalt Solar Project
Recurrent Energy, the utility‑scale development arm of Canadian Solar Inc., has closed $695 million in project financing and tax equity for its 330 MW Cobalt Solar facility in Riverside County, California, the company announced on August 13, 2026. Th...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 23, 2026