Canadian Competitors

CSIQ Stock  USD 19.76  0.36  1.86%   
Canadian Solar competes with Sunnova Energy, Nextracker, Sunrun, and Emeren; as well as few others. The company conducts business under Semiconductors & Semiconductor Equipment sector and is part of Information Technology industry. Analyzing Canadian Solar competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of Canadian Solar to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out Canadian Solar Correlation with its peers.
To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.
You can use the Comparative Equity Analysis module to analyze the advantages of investing in your portfolio's related equities across multiple sectors and thematic ideas. Please use the input box below to enter symbols for particular investments you would like to analyze. With the equity comparison module, you can estimate the relative effect of Canadian Solar competition on your existing holdings.
  
As of 03/29/2024, Return On Equity is likely to grow to 0.15, while Return On Capital Employed is likely to drop 0.06. At this time, Canadian Solar's Total Assets are relatively stable compared to the past year. As of 03/29/2024, Non Current Assets Total is likely to grow to about 6.4 B, while Fixed Asset Turnover is likely to drop 1.69.
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Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian Solar's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
16.2619.7623.26
Details
Intrinsic
Valuation
LowRealHigh
17.3120.8124.31
Details
Naive
Forecast
LowNextHigh
15.7919.2922.79
Details
8 Analysts
Consensus
LowTargetHigh
35.8439.3843.71
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Canadian Solar. Your research has to be compared to or analyzed against Canadian Solar's peers to derive any actionable benefits. When done correctly, Canadian Solar's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Canadian Solar.

Canadian Solar Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Canadian Solar and its competitors represents the degree of relationship between the price movements of corresponding stocks. A correlation of about +1.0 implies that the price of Canadian and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Canadian Solar does not affect the price movement of the other competitor.
NOVA
NXT
RUN
SOL
NOVA
-0.630.960.61
NOVA
NXT
-0.63-0.48-0.39
NXT
RUN
0.96-0.480.65
RUN
SOL
0.61-0.390.65
SOL
NOVA
NXT
RUN
SOL
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio
High positive correlations   
RUNNOVA
SOLRUN
SOLNOVA
  
High negative correlations   
NXTNOVA
RUNNXT
SOLNXT

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Solar Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Canadian Solar's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Cross Equities Net Income Analysis

Compare Canadian Solar and related stocks such as Sunnova Energy Inter, Nextracker Class A, and Sunrun Inc Net Income Over Time
Select Fundamental
201020112012201320142015201620172018201920202021202220232024
NOVA(91.1 M)(91.1 M)(91.1 M)(91.1 M)(91.1 M)(91.1 M)(91.1 M)(91.1 M)(74.2 M)(255.6 M)(307.8 M)(147.5 M)(130.3 M)(418 M)(397.1 M)
NXT(1.6 M)(1.6 M)(1.6 M)(1.6 M)(1.6 M)(1.6 M)(1.6 M)(1.6 M)(1.6 M)118.3 M124.3 M50.9 M1.1 MM977.3 K
RUN(1.2 M)(1.2 M)(1.2 M)(1.2 M)(70.9 M)(28.2 M)91.7 M124.5 M26.7 M(391 M)(626.9 M)(980.5 M)(849.6 M)(1.6 B)(1.5 B)
SOLK333 K(203.4 M)(259.5 M)(33.6 M)(5.1 M)(34.7 M)34.5 M1.8 M(11.7 M)2.8 M6.9 M5.9 M5.3 M5.6 M

Canadian Solar and related stocks such as Sunnova Energy Inter, Nextracker Class A, and Sunrun Inc Net Income description

Net income is one of the most important fundamental items in finance. It plays a large role in Canadian Solar financial statement analysis. It represents the amount of money remaining after all of Canadian Solar operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Canadian Solar Competitive Analysis

The better you understand Canadian Solar competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Canadian Solar's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Canadian Solar's competition over several years is one of the best ways to analyze its investment potential.
    
 Better Than Average     
    
 Worse Than Peers    View Performance Chart
CSIQNOVANXTRUNSOL
 1.86 
 19.76 
Canadian
 2.68 
 6.13 
Sunnova
 3.02 
 56.27 
Nextracker
 0.61 
 13.18 
Sunrun
 4.93 
 1.93 
Emeren
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Canadian Solar Competition Performance Charts

Five steps to successful analysis of Canadian Solar Competition

Canadian Solar's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Canadian Solar in relation to its competition. Canadian Solar's competition analysis typically involves several steps, including:
  • Identifying the key players in the market: This involves identifying the major competitors of Canadian Solar in the market, both direct and indirect, as well as new entrants and disruptive technologies.
  • Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
  • Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Canadian Solar's competitive landscape.
  • Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Canadian Solar, and developing a strategy to address them.
  • Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your Canadian Solar position

In addition to having Canadian Solar in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Did You Try This Idea?

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Banks - Regional
Banks - Regional Theme
Fama and French investing themes focus on testing asset pricing under different economic assumptions. The Banks - Regional theme has 18 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Banks - Regional Theme or any other thematic opportunities.
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When determining whether Canadian Solar is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Canadian Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Canadian Solar Stock. Highlighted below are key reports to facilitate an investment decision about Canadian Solar Stock:
Check out Canadian Solar Correlation with its peers.
To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.
You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

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When running Canadian Solar's price analysis, check to measure Canadian Solar's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian Solar is operating at the current time. Most of Canadian Solar's value examination focuses on studying past and present price action to predict the probability of Canadian Solar's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Solar's price. Additionally, you may evaluate how the addition of Canadian Solar to your portfolios can decrease your overall portfolio volatility.
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Is Canadian Solar's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canadian Solar. If investors know Canadian will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canadian Solar listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.71)
Earnings Share
4.99
Revenue Per Share
116.461
Quarterly Revenue Growth
(0.14)
Return On Assets
0.0271
The market value of Canadian Solar is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian Solar's value that differs from its market value or its book value, called intrinsic value, which is Canadian Solar's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canadian Solar's market value can be influenced by many factors that don't directly affect Canadian Solar's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canadian Solar's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Solar is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Solar's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.