WallStSmart

Canadian Solar Inc (CSIQ)vsFirst Solar Inc (FSLR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Canadian Solar Inc generates 3% more annual revenue ($5.60B vs $5.42B). FSLR leads profitability with a 30.7% profit margin vs -1.9%. CSIQ appears more attractively valued with a PEG of 0.16. FSLR earns a higher WallStSmart Score of 82/100 (A-).

CSIQ

Buy

55

out of 100

Grade: C

Growth: 4.7Profit: 3.5Value: 8.3Quality: 3.0
Piotroski: 2/9Altman Z: 0.72

FSLR

Exceptional Buy

82

out of 100

Grade: A-

Growth: 9.3Profit: 9.0Value: 6.7Quality: 8.5
Piotroski: 5/9Altman Z: 3.38
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

CSIQUndervalued (+80.8%)

Margin of Safety

+80.8%

Fair Value

$108.76

Current Price

$17.16

$91.60 discount

UndervaluedFair: $108.76Overvalued
FSLROvervalued (-6.2%)

Margin of Safety

-6.2%

Fair Value

$251.74

Current Price

$314.95

$63.21 premium

UndervaluedFair: $251.74Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CSIQ3 strengths · Avg: 10.0/10
PEG RatioValuation
0.1610/10

Growing faster than its price suggests

Price/BookValuation
0.4x10/10

Reasonable price relative to book value

EPS GrowthGrowth
300.0%10/10

Earnings expanding 300.0% YoY

FSLR6 strengths · Avg: 9.7/10
Profit MarginProfitability
30.7%10/10

Keeps 31 of every $100 in revenue as profit

Operating MarginProfitability
33.1%10/10

Strong operational efficiency at 33.1%

EPS GrowthGrowth
65.1%10/10

Earnings expanding 65.1% YoY

Debt/EquityHealth
0.0410/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
3.3810/10

Safe zone — low bankruptcy risk

PEG RatioValuation
0.708/10

Growing faster than its price suggests

Areas to Watch

CSIQ4 concerns · Avg: 2.5/10
Market CapQuality
$1.29B3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Return on EquityProfitability
-4.4%2/10

ROE of -4.4% — below average capital efficiency

Revenue GrowthGrowth
-20.0%2/10

Revenue declined 20.0%

FSLR1 concerns · Avg: 2.0/10
Free Cash FlowQuality
$-333.39M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : CSIQ

The strongest argument for CSIQ centers on PEG Ratio, Price/Book, EPS Growth. PEG of 0.16 suggests the stock is reasonably priced for its growth.

Bull Case : FSLR

The strongest argument for FSLR centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 30.7% and operating margin at 33.1%. Revenue growth of 23.6% demonstrates continued momentum.

Bear Case : CSIQ

The primary concerns for CSIQ are Market Cap, Piotroski F-Score, Return on Equity. Debt-to-equity of 2.76 is elevated, increasing financial risk.

Bear Case : FSLR

The primary concerns for FSLR are Free Cash Flow.

Key Dynamics to Monitor

CSIQ profiles as a turnaround stock while FSLR is a growth play — different risk/reward profiles.

FSLR carries more volatility with a beta of 1.69 — expect wider price swings.

FSLR is growing revenue faster at 23.6% — sustainability is the question.

FSLR generates stronger free cash flow (-333M), providing more financial flexibility.

Bottom Line

FSLR scores higher overall (82/100 vs 55/100), backed by strong 30.7% margins and 23.6% revenue growth. CSIQ offers better value entry with a 80.8% margin of safety. Both earn "Exceptional Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Canadian Solar Inc

TECHNOLOGY · SOLAR · USA

Canadian Solar Inc. designs, develops, manufactures and sells solar ingots, wafers, cells, modules and other solar energy products. The company is headquartered in Guelph, Canada.

First Solar Inc

TECHNOLOGY · SOLAR · USA

First Solar, Inc. offers solar photovoltaic (PV) solutions in the United States, Japan, France, Canada, India, Australia, and internationally. The company is headquartered in Tempe, Arizona.

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