Canadian Retained Earnings vs Cash Analysis
CSIQ Stock | USD 16.39 0.69 4.39% |
Canadian Solar financial indicator trend analysis is way more than just evaluating Canadian Solar prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian Solar is a good investment. Please check the relationship between Canadian Solar Retained Earnings and its Cash accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.
Retained Earnings vs Cash
Retained Earnings vs Cash Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian Solar Retained Earnings account and Cash. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Canadian Solar's Retained Earnings and Cash is 0.85. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Cash in the same time period over historical financial statements of Canadian Solar, assuming nothing else is changed. The correlation between historical values of Canadian Solar's Retained Earnings and Cash is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of Canadian Solar are associated (or correlated) with its Cash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash has no effect on the direction of Retained Earnings i.e., Canadian Solar's Retained Earnings and Cash go up and down completely randomly.
Correlation Coefficient | 0.85 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Retained Earnings
The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.Cash
Cash refers to the most liquid asset of Canadian Solar, which is listed under current asset account on Canadian Solar balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Canadian Solar customers. The amounts must be unrestricted with restricted cash listed in a different Canadian Solar account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.Most indicators from Canadian Solar's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian Solar current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.At this time, Canadian Solar's Issuance Of Capital Stock is relatively stable compared to the past year. As of 05/13/2024, Enterprise Value is likely to grow to about 3.4 B, while Selling General Administrative is likely to drop slightly above 318.8 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 909.3M | 1.3B | 1.3B | 1.3B | Total Revenue | 5.3B | 7.5B | 7.6B | 8.0B |
Canadian Solar fundamental ratios Correlations
Click cells to compare fundamentals
Canadian Solar Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Canadian Solar fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 5.5B | 6.5B | 7.4B | 9.0B | 11.9B | 12.5B | |
Total Stockholder Equity | 1.4B | 1.6B | 1.8B | 1.9B | 2.6B | 2.7B | |
Property Plant And Equipment Net | 1.1B | 1.3B | 1.5B | 2.2B | 4.3B | 4.5B | |
Net Debt | 1.8B | 1.6B | 2.4B | 3.0B | 1.5B | 1.0B | |
Cash | 668.8M | 1.2B | 869.8M | 981.4M | 2.9B | 3.1B | |
Non Current Assets Total | 2.2B | 2.4B | 2.6B | 3.4B | 6.1B | 6.4B | |
Non Currrent Assets Other | 687.1M | 674.5M | 645.8M | 734.9M | 1.2B | 1.3B | |
Other Assets | 841.1M | 845.1M | 882.3M | 963.0M | 1.1B | 1.2B | |
Cash And Short Term Investments | 668.8M | 1.2B | 869.8M | 981.4M | 2.9B | 3.1B | |
Net Receivables | 592.2M | 545.7M | 887.5M | 1.2B | 1.2B | 1.3B | |
Common Stock Shares Outstanding | 60.8M | 62.3M | 68.9M | 71.2M | 72.2M | 49.4M | |
Liabilities And Stockholders Equity | 5.5B | 6.5B | 7.4B | 9.0B | 11.9B | 12.5B | |
Inventory | 554.1M | 696.0M | 1.2B | 1.5B | 1.4B | 1.4B | |
Other Stockholder Equity | 5.3M | (28.2M) | (19.4M) | 1.1M | 292.7M | 307.4M | |
Total Liab | 4.0B | 4.6B | 5.3B | 6.7B | 8.2B | 8.6B | |
Property Plant And Equipment Gross | 1.1B | 1.3B | 1.5B | 2.2B | 5.4B | 5.6B | |
Total Current Assets | 3.3B | 4.2B | 4.8B | 5.6B | 5.8B | 6.1B | |
Other Current Liab | 588.5M | 757.2M | 913.4M | 1.2B | 2.0B | 2.1B | |
Total Current Liabilities | 3.1B | 3.6B | 4.0B | 5.3B | 5.9B | 6.2B | |
Retained Earnings | 793.6M | 940.3M | 1.0B | 1.3B | 1.5B | 1.6B | |
Accounts Payable | 585.6M | 514.7M | 503.0M | 805.3M | 813.7M | 458.0M | |
Non Current Liabilities Total | 950.2M | 1.1B | 1.2B | 1.5B | 2.3B | 2.4B | |
Other Current Assets | 857.6M | 1.1B | 1.0B | 653.9M | 292.9M | 533.7M | |
Accumulated Other Comprehensive Income | (109.6M) | (28.7M) | (50.6M) | (170.6M) | (118.7M) | (112.8M) | |
Other Liab | 295.0M | 370.8M | 452.2M | 360.6M | 414.6M | 435.4M | |
Common Stock | 702.9M | 703.8M | 687.0M | 835.5M | 752.0M | 714.4M | |
Property Plant Equipment | 1.1B | 1.3B | 1.5B | 2.3B | 2.6B | 2.8B | |
Short Long Term Debt Total | 2.4B | 2.8B | 3.3B | 4.0B | 4.5B | 4.7B | |
Current Deferred Revenue | 134.8M | 189.5M | 135.5M | 334.9M | 392.3M | 465.7M | |
Long Term Debt | 619.5M | 669.3M | 748.3M | 1.0B | 1.7B | 1.7B | |
Short Term Debt | 1.8B | 2.1B | 2.5B | 2.9B | 2.7B | 2.8B | |
Intangible Assets | 83.6M | 84.8M | 90.0M | 85.6M | 19.7M | 18.7M | |
Common Stock Total Equity | 702.2M | 702.9M | 703.8M | 687.0M | 790.1M | 705.7M | |
Net Tangible Assets | 1.3B | 1.5B | 1.7B | 1.9B | 2.2B | 1.2B | |
Long Term Investments | 152.8M | 78.3M | 98.8M | 115.8M | 236.9M | 185.1M | |
Short Long Term Debt | 1.8B | 2.1B | 2.5B | 2.9B | 2.7B | 1.9B |
Pair Trading with Canadian Solar
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canadian Solar position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canadian Solar will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
0.78 | NA | Nano Labs | PairCorr |
0.79 | ENPH | Enphase Energy | PairCorr |
Moving against Canadian Stock
0.72 | FSLR | First Solar | PairCorr |
0.53 | SIMO | Silicon Motion Technology | PairCorr |
0.44 | TSM | Taiwan Semiconductor Buyout Trend | PairCorr |
The ability to find closely correlated positions to Canadian Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Solar when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canadian Solar - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canadian Solar to buy it.
The correlation of Canadian Solar is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Solar moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canadian Solar can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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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 3.87 | Revenue Per Share 116.461 | Quarterly Revenue Growth (0.14) | Return On Assets 0.0281 |
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.