CSIQ
Canadian Solar Inc.
Energy
04/08/2014
Presented
| Date | 04/03/2014 |
| Price | $N/A |
| Market Cap | $1.67B |
| Ent Value | $2.39B |
| P/E Ratio | 8.16x |
| Book Value | $12.99 |
| Div Yield | N/A |
| Shares O/S | 53.81M |
| Ave Daily Vol | 4,680,000 |
| Short Int | 8.10% |
Current
| Price | $12.61 |
| Market Cap | $0.83B |
| Canadian Solar Inc., together with its subsidiaries, engages in the design, development, manufacture, and sale of solar power products worldwide. The company offers solar wafers, cells, and solar module products that convert sunlight into electricity for various uses. Its products include a range of standard solar modules for use in a range of residential, commercial, and industrial solar power generation systems. The company also designs and produces specialty solar modules and products consisting of customized solar modules that its customers incorporate into their products, such as building integrated photovoltaic modules, or BIPV modules; and specialty products, such as portable solar home systems and solar-powered car battery chargers. In addition, it sells solar system kits, a package consisting of solar modules produced by it; and third party supplied components, such as inverters, racking system, and other accessories. Further, the company implements solar power development projects; and performs the engineering design, procurement, and construction work for the solar project. Canadian Solar Inc. sells its products under the CanadianSolar brand name. The company offers its standard solar modules through a direct sales force and sales agents primarily to distributors, system integrators, and original equipment manufacturer customers, as well as to solar project developers; and specialty solar modules and products to the automotive, telecommunications, and light-emitting diode lighting sectors. Canadian Solar Inc. was founded in 2001 and is headquartered in West Guelph, Canada. |
Highlights
Canadian Solar has historically been a module maker, but several years ago it had the foresight to recognize that the downstream business had the potential to be a much more profitable component of the value chain. The company acted quickly and has consequently benefitted from first mover advantage in the Canadian market. The presenter describes CSIQ as a solid business with good visibility into backlog. The stock is cheaply valued, in part because the biggest risk to the story is whether the company can successfully refill its pipeline/ backlog in Japan and emerging markets once its Canadian projects run off.
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