Canadian Solar

CSIQ

Solar · Energy

Price

$14.95

+0.21 (+1.42%)

Market Cap

$1.02B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−2.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 68.9M (2021) → 67.4M (2025)

Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc. (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that are a ready-to-install packages comprising inverters

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-20.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-351.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$91M/ year

↓ Declining (-25% vs prior year)

1.6% of revenue

1.6x the sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

30.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~14 months

$1.9B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

Canadian Solar's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

10.2%

Thin — 10.2% gross margin

Operating Margin

-7.0%

Losing money on operations — -7.0%

ROCE

-0.8%

Weak — -0.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-6.6%

Shrinking sales (-6.6% YoY)

EPS YoY

-416.0%

Earnings shrinking (-416.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-29.6%

Burning cash (-29.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

2.61

Heavy debt load (2.61)

Interest Cover

0.03x

Dangerous — barely covers interest (0.0x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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