Canadian Historical Financial Ratios
| CSIQ Stock | USD 12.41 0.35 2.74% |
Canadian Solar is presently reporting on over 99 different financial statement accounts. To analyze all of these accounts together requires a lot of time and effort. However, using these accounts to derive some meaningful and actionable indicators such as Dividend Yield of 9.0E-4, PTB Ratio of 0.64 or Days Sales Outstanding of 69.64 will help investors to properly organize and evaluate Canadian Solar financial condition quickly.
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About Canadian Financial Ratios Analysis
Canadian SolarFinancial ratios are relationships based on a company's financial information. They can serve as useful tools to evaluate Canadian Solar investment potential. Financial ratio analysis can also be defined as the process of presenting financial ratios, which are mathematical indicators calculated by comparing key financial information appearing on Canadian financial statements. Financial ratios are useful tools that help investors analyze and compare relationships between different pieces of financial information across Canadian Solar history.
Canadian Solar Financial Ratios Chart
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Price To Sales Ratio
Price to Sales Ratio is figured by comparing Canadian Solar stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Canadian Solar sales, a figure that is much harder to manipulate than other Canadian Solar multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.Dividend Yield
Dividend Yield is Canadian Solar dividend as a percentage of Canadian Solar stock price. Canadian Solar dividend yield is a measure of Canadian Solar stock productivity, which can be interpreted as interest rate earned on an Canadian Solar investment. A financial ratio that shows how much a company pays out in dividends each year relative to its stock price, calculated as annual dividends per share divided by price per share.Ptb Ratio
Price-to-Book ratio, a financial valuation metric used to compare a company's current market price to its book value. It provides insight into the value that market participants place on the company's equity relative to its net asset value.Most ratios from Canadian Solar's fundamentals are interrelated and interconnected. However, analyzing fundamentals ratios 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 fundamentals ratios, 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 closely tied 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 Days Of Inventory On Hand is relatively stable compared to the past year. As of 12/01/2024, Payables Turnover is likely to grow to 9.55, while PTB Ratio is likely to drop 0.64.
| 2023 | 2024 (projected) | PTB Ratio | 0.67 | 0.64 | Dividend Yield | 9.77E-4 | 9.28E-4 |
Canadian Solar fundamentals Correlations
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Canadian Solar Account Relationship Matchups
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Canadian Solar fundamentals Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Price To Sales Ratio | 0.23 | 0.41 | 0.88 | 0.37 | 0.27 | 0.21 | |
| Ptb Ratio | 0.95 | 1.94 | 1.07 | 1.02 | 0.67 | 0.64 | |
| Days Sales Outstanding | 67.54 | 57.29 | 61.39 | 60.41 | 57.99 | 69.64 | |
| Book Value Per Share | 23.9 | 31.77 | 34.51 | 35.86 | 56.68 | 59.51 | |
| Operating Cash Flow Per Share | 10.06 | (2.02) | (6.63) | 14.25 | 10.47 | 11.0 | |
| Stock Based Compensation To Revenue | 0.003338 | 0.003552 | 0.001669 | 0.001255 | 0.007268 | 0.006904 | |
| Capex To Depreciation | 1.82 | 1.6 | 1.52 | 2.68 | 4.97 | 5.48 | |
| Pb Ratio | 0.95 | 1.94 | 1.07 | 1.02 | 0.67 | 0.64 | |
| Ev To Sales | 0.96 | 1.35 | 0.82 | 0.67 | 0.56 | 0.53 | |
| Free Cash Flow Per Share | 5.18 | (7.65) | (13.6) | 4.49 | (12.86) | (12.22) | |
| Roic | 0.0221 | 0.004719 | (0.0119) | 0.0477 | 0.0561 | 0.0979 | |
| Inventory Turnover | 4.48 | 4.0 | 3.66 | 4.07 | 5.37 | 4.36 | |
| Net Income Per Share | 3.88 | 2.88 | 2.46 | 1.55 | 3.73 | 4.19 | |
| Days Of Inventory On Hand | 81.48 | 91.16 | 99.64 | 89.65 | 67.98 | 103.22 | |
| Payables Turnover | 4.24 | 5.41 | 8.68 | 7.71 | 7.78 | 9.55 | |
| Sales General And Administrative To Revenue | 0.0759 | 0.0649 | 0.0585 | 0.0458 | 0.0579 | 0.055 | |
| Research And Ddevelopement To Revenue | 0.0147 | 0.013 | 0.0111 | 0.009349 | 0.0132 | 0.0139 | |
| Capex To Revenue | 0.091 | 0.0963 | 0.0814 | 0.0841 | 0.2 | 0.21 | |
| Cash Per Share | 11.21 | 20.04 | 14.45 | 15.54 | 29.65 | 31.14 | |
| Pocfratio | 2.2 | (25.32) | (4.72) | 2.17 | 2.5 | 2.38 | |
| Interest Coverage | 1.37 | 0.29 | (1.4) | 4.79 | 3.97 | 3.6 | |
| Capex To Operating Cash Flow | 0.49 | (2.78) | (1.05) | 0.69 | 2.23 | 1.85 | |
| Pfcf Ratio | 4.27 | (6.7) | (2.3) | 6.89 | (2.04) | (1.94) | |
| Days Payables Outstanding | 86.11 | 67.42 | 42.03 | 47.37 | 46.89 | 61.93 | |
| Income Quality | 3.6 | (0.82) | (3.72) | 3.07 | 2.5 | 2.37 | |
| Roe | 0.19 | 0.12 | 0.0934 | 0.0529 | 0.11 | 0.15 | |
| Ev To Operating Cash Flow | 5.12 | (38.85) | (10.57) | 5.47 | 6.21 | 5.9 | |
| Pe Ratio | 7.68 | 20.81 | 20.24 | 8.28 | 6.25 | 6.57 | |
| Return On Tangible Assets | 0.0319 | 0.0227 | 0.0131 | 0.0268 | 0.0231 | 0.0219 | |
| Ev To Free Cash Flow | 9.95 | (10.28) | (5.15) | 17.39 | (5.06) | (4.8) | |
| Earnings Yield | 0.13 | 0.0481 | 0.0494 | 0.12 | 0.16 | 0.17 | |
| Intangibles To Total Assets | 0.0153 | 0.013 | 0.0122 | 0.009475 | 0.001658 | 0.001575 | |
| Net Debt To E B I T D A | 3.99 | 3.85 | 4.83 | 4.49 | 3.06 | 2.26 | |
| Tangible Book Value Per Share | 22.49 | 30.35 | 33.05 | 34.53 | 56.37 | 59.19 |
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 against Canadian Stock
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.Additional Tools for Canadian Stock Analysis
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.