Canadian Solar Inc. (CSIQ) Press Release
Corporate Events
Canadian Solar Inc. and Canadian Solar (USA) Inc. Settle Patent Litigation with Solaria
2022-06-08 11:00:00
Canadian Solar Inc. and Canadian Solar (USA) Inc. (jointly Canadian Solar) announced that they have reached a settlement agreement with Solaria resolving their pending patent litigation, following the claim construction order by the U.S. District Court for the Northern District of California adopting the core argument advanced by Canadian Solar, as well as the decision by the U.S. International Trade Commission to grant Canadian Solar's request to review the initial determination of its Administrative Law Judge. Pursuant to the terms of the settlement, Solaria agreed to terminate the Section 337 investigation it initiated at the U.S. International Trade Commission and to dismiss with prejudice the patent infringement claims it asserted against Canadian Solar in the Northern District of California. Canadian Solar agreed to withdraw the inter partes review it filed with the U.S. Patent and Trademark Office challenging a Solaria asserted patent. Neither party admits any liability or wrongdoing, and no payment is required under the settlement.
SPIC Brasil Energia Participacoes S.A. agreed to acquire 70% stake in 738 MWp solar project from Canadian Solar Inc. (NasdaqGS:CSIQ).
2022-06-06 00:00:00
SPIC Brasil Energia Participacoes S.A. entered into an agreement to acquire 70% majority stake in 738 MWp solar project from Canadian Solar Inc. (NasdaqGS:CSIQ) on June 6, 2022. The transaction is subject on approval of the competent anti-trust regulatory agencies.
Canadian Solar Inc., Annual General Meeting, Jun 22, 2022
2022-05-26 20:02:00
Canadian Solar Inc., Annual General Meeting, Jun 22, 2022, at 16:00 China Standard Time. Location: 11th Floor, HSBC Building, Shanghai IFC 8 Century Avenue, Pudong New District, Shanghai 200120 Shanghai China Agenda: to receive the audited consolidated financial statements of the Corporation for the financial year ended December 31, 2021, together with the auditors’ report thereon and the notes thereto; to elect directors of the Corporation; to appoint Deloitte Touche Tohmatsu Certified Public Accountants LLP as the auditors of the Corporation and to authorize the directors of the Corporation to fix their remuneration; to consider and, if deemed advisable, to approve, with or without variation, a special resolution authorizing and approving the continuance of the Corporation from the provincial jurisdiction of the Province of British Columbia under the Business Corporations Act (British Columbia) to the provincial jurisdiction of Ontario under the Business Corporations Act (Ontario) on the basis set forth in the management information circular which accompanies this notice (Circular); and to consider other matters if any.
Canadian Solar Inc. Provides Earnings Guidance for the Full Year 2022
2022-05-24 10:00:00
Canadian Solar Inc. provided earnings guidance for the full year 2022. For the period, the company guidance remains unchanged with the following ranges: total module shipments of 20 GW to 22 GW, battery storage shipments of 1.8 GWh to 1.9 GWh, total project sales of 2.1 GW to 2.6 GW and total revenue of $7.0 billion to $7.5 billion.
Canadian Solar Inc.'s Energy Storage Integration Unit Secures 100 MWh EPC Contract in the United Kingdom
2022-05-09 11:00:00
Canadian Solar Inc. announced it has entered the utility scale energy storage market in the United Kingdom after signing the agreements to provide integrated energy storage systems, and Engineering, Procurement and Construction (EPC) services for four battery storage projects. Pulse Clean Energy is the owner of the four projects of more than 100 MWh. The agreements mark the start of a long-term partnership between the companies. In addition to providing the battery storage systems and construction services, Canadian Solar will maintain and operate the projects via a 10-year long-term service agreement (LTSA). Canadian Solar's solutions will enable Pulse Clean Energy to optimize ancillary grid-services, enhance energy balancing capabilities, and capture multiple streams of revenue. As of January 31, 2022, Canadian Solar's energy storage portfolio includes 300 MWh of projects under a long-term service agreement, 2,043 MWh of projects under construction and a remaining pipeline of over 4 GWh. Canadian Solar's Energy Storage Team continues to expand its regional footprint, executing storage projects and deploying resources in Canada, the United States, the United Kingdom, Australia, and China.
Canadian Solar Inc., Q1 2022 Earnings Call, May 24, 2022
2022-04-27 11:00:00
Canadian Solar Inc., Q1 2022 Earnings Call, May 24, 2022
Wood Mackenzie Scales Renewable Markets Data Reach as Canadian Solar Joins Lens Power Development Partner Program
2022-04-25 07:15:00
Canadian Solar to collaborate with Wood Mackenzie to connect the dots in the analysis of data across a rapidly changing energy landscape. International pressure to decarbonize is intensifying and, through its continued addition of specialist organizations on all continents, Wood Mackenzie’s Lens platform has become instrumental in helping key players rapidly visualize, value, model and optimize energy assets, portfolios and companies. Integration of renewable and conventional power sources in a single interface, drawing from Wood Mackenzie’s trusted commercial intelligence on the world’s natural resources sector, transforms how Lens Power customers drive investment strategy decisions and ignite growth plans. Lens® Power offers an integrated, thirty-year view of global power markets supply, demand, cost and energy price forecasts alongside high-fidelity geospatial data including solar irradiance and transmission infrastructure. As Wood Mackenzie continues to integrate real-time and historic nodal congestion and price data, Lens Power will provide unmatched insight into greenfield site selection and asset optimization. Among Lens® initiatives is Wood Mackenzie’s collaboration with early adopters to design a power solution that provides a holistic understanding of what is happening in the world of energy, allowing organizations to improve profitability and minimize risk.
Maxeon Solar Technologies, Ltd. and Canadian Solar Inc. Announce Settlement Agreement Resolving Patent Infringement Lawsuit
2022-04-20 12:35:00
Maxeon Solar Technologies, Ltd. (Maxeon) and Canadian Solar Inc. (Canadian Solar) announced that the companies have reached a settlement agreement resolving a patent infringement lawsuit in Tokyo District Court, Japan. The patent infringement lawsuit alleged Canadian Solar Japan infringed Maxeon's Japan Patent No. JP6642841B2 (Shingled Solar Cell Module). Pursuant to the terms of the settlement agreement, Canadian Solar has agreed to withdraw challenges to Maxeon's Patent. Canadian Solar has also agreed to discontinue selling shingled solar cell solar modules in Japan until the second calendar quarter of 2025 after satisfying certain outstanding 2022 orders. Further details of the settlement are confidential.
Canadian Solar Completes Sale of 635 MWp Solar Photovoltaic Project to VTRM in Brazil
2021-12-14 12:00:00
Canadian Solar Inc. and VTRM announced the sale of Canadian Solar's 635 MWp Jaíba V solar project to VTRM. The Jaíba V Project, located in the Northeastern state of Minas Gerais, is in advanced stage of development and is expected to begin construction in 2022, and reach commercial operation in 2023. Once operational, the project will be one of the solar projects in the country, covering approximately 3,706 acres of land (1,500 ha), and is estimated to generate clean electricity equivalent to the annual consumption of over 500,000 households. Approximately 40% of Jaíba V's installed capacity is already committed through long-term PPAs (power purchase agreements), and the remaining energy will be sold in the free market.
Canadian Solar Mulls Acquisitions
2021-11-29 17:51:00
Canadian Solar Inc. (NasdaqGS:CSIQ) will look for acquisitions of businesses, assets . The company announced on November 29, 2021 that it has completed its previously announced "at-the-market" offering program ("ATM Offering") of common shares. Upon the completion of the offering, the Company had sold 3,639,918 of its common shares and raised $150 million in gross proceeds before deducting commissions and offering expenses. The company intends to use the net proceeds from the ATM Offering to enhance the Company's ability to execute its long-term strategic growth plans, including investing in its battery storage business and growing its storage pipeline, and for general corporate purposes. The Company may also use a portion of the net proceeds to invest in or acquire businesses, assets or technologies that it believes are complementary to its business, including investments to strengthen its portfolio of stable, cash-yielding solar power projects that it has developed, and may be monetized through public vehicles in markets such as Europe and Brazil.
Canadian Solar Inc. has completed a Follow-on Equity Offering in the amount of $150 million.
2021-11-29 00:00:00
Canadian Solar Inc. has completed a Follow-on Equity Offering in the amount of $150 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 3,639,918 Price\Range: $41.20972 Transaction Features: At the Market Offering
Canadian Solar Inc. and Contemporary Amperex Technology Co., Limited Sign Battery Storage Strategic Cooperation Framework Agreement
2021-11-24 12:00:00
Canadian Solar Inc. announced that its subsidiary CSI Solar signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co. Ltd. ("CATL"), a global leader of new energy innovative technologies. According to the agreement, CSI Solar and CATL will establish a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.
Canadian Solar Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year of 2021 and Full Year of 2022
2021-11-18 10:44:00
Canadian Solar Inc. provided revenue guidance for the fourth quarter and full year of 2021 and full year of 2022. For the fourth quarter of 2021, the Company expects total module shipments to be in the range of 3.7 GW to 3.9 GW, including approximately 250 MW of module shipments to the Company's own projects. Total revenues are expected to be in the range of $1.5 billion to $1.6 billion. For the full year of 2021, battery storage shipments, accounted in CSI Solar, are expected to be in the range of 840 MWh to 860 MWh. Global Energy project sales are expected to be in the range of 1.5 GW to 2.1 GW, reflecting the timing of certain project sales which could be recognized either in the fourth quarter of 2021 or first quarter of 2022. For the full year of 2022, the Company expects total module shipments to be in the range of 20 GW to 22 GW, battery storage shipments to be in the range of 1.4 GWh to 1.5 GWh, and total project sales to be in the range of 2.4 GW to 2.9 GW. Revenue for the full year of 2022 is expected to be in the range of $6.5 billion to $7.0 billion.
Canadian Solar Inc. Wins 52 MWP Solar Project in Colombian Public Tender
2021-11-08 12:00:00
Canadian Solar Inc. announced that it was awarded 52 MWp for the solar PV project Caracoli in the recent public auction by Colombia'sMinistry of Energy. The Caracoli project is located in the Atlántico Region in northern Colombia. The energy awarded will be acquired by a pool of reputable off-takers and will start delivering clean energy from 2023 through an inflation-indexed, Colombian Peso-denominated, 15-year power purchase agreement. The solar PV project has already completed the consultation process with indigenous communities (Consulta Previa) and is expected to start construction by the second quarter of 2022. This project represents Canadian Solar's second landmark achievement in Colombia, after the recent awarding of the country's first utility-scale, stand-alone 45 MWh battery storage project located in Barranquilla.
Solaria Corporation Wins Initial Ruling from United States International Trade Commission Against Canadian Solar
2021-10-27 13:07:00
Solaria Corporation announced that it has won an important ruling from the United States International Trade Commission (ITC) in its effort to stop Canadian Solar Inc. from infringing two of Solaria’s ground-breaking U.S. patents. These two patents cover shingled solar modules and a process for separating photovoltaic (PV) strips from solar cells for use in shingled solar modules. Solaria’s shingled solar module technology delivers higher power than conventional solar modules. The Judge assigned by the ITC to oversee Solaria’s lawsuit against Canadian Solar issued an Initial Determination finding that Canadian Solar violated section 337 of the Tariff Act of 1930, as amended, in their importation of shingled solar modules. The Judge’s ruling found: Violation of U.S. Patent 10,651,333; and Violation of U.S. Patent 10,763,388. The Judge’s Initial Determination unequivocally demonstrates that Canadian Solar utilized Solaria’s innovations and technology without permission and in violation of U.S. patent law. In so finding, the Judge ruled against Canadian Solar’s claims that the patents were invalid and not infringed. Solaria is confident that the ITC will issue an exclusion order preventing Canadian Solar from importing and selling shingled modules in the U.S.
Canadian Solar Inc., Q3 2021 Earnings Call, Nov 18, 2021
2021-10-26 11:00:00
Canadian Solar Inc., Q3 2021 Earnings Call, Nov 18, 2021
Canadian Solar Inc. Presents at 20th Annual Wells Fargo Midstream Utility & Renewables Conference, Dec-08-2021
2021-10-22 01:45:00
Canadian Solar Inc. Presents at 20th Annual Wells Fargo Midstream Utility & Renewables Conference, Dec-08-2021 . Speakers: Isabel Zhang, Director, Investor Relations & Strategic Analysis.
Wells Fargo Securities, LLC, 20th Annual Wells Fargo Midstream Utility & Renewables Conference, Dec 08, 2021 through Dec 09, 2021
2021-10-22 00:53:00
Wells Fargo Securities, LLC, 20th Annual Wells Fargo Midstream Utility & Renewables Conference, Dec 08, 2021 through Dec 09, 2021.
Canadian Solar Inc. Reaffirms Earnings Guidance for the Third Quarter and Full Year of Fiscal Year Ending December 31, 2021; Provides Earnings Guidance for the Six Months Ending December 31, 2021
2021-09-07 12:17:00
Canadian Solar Inc. reaffirmed earnings guidance for the third quarter and full year of fiscal year ending December 31, 2021. The forecast is consistent with Canadian Solar's third quarter and full year guidance provided on August 12, 2021, which remains unchanged. For the six months, the company also expects revenue of RMB 19,274 million, operating profit of RMB 518 million, net profit of RMB 414 million.
Canadian Solar Inc. Signs Operations & Maintenance Agreements with Solar Plus Battery Storage Projects in the U.S
2021-09-07 11:00:00
Canadian Solar Inc. announced that it has signed long-term Operations & Maintenance (O&M) agreements with two solar PV plus battery storage projects in the U.S., namely, the Slate and Mustang projects which were both developed by Canadian Solar's subsidiary Recurrent Energy and are currently owned by Goldman Sachs Asset Management Renewable Power (Goldman Sachs). The agreements cover the full Slate Project, which is a 300 MWac solar plant designed with a 140 MW /561 MWh battery energy storage system; and the storage component of the Mustang Project, which is a 100 MWac solar plant retrofitted with a 75 MW /300 MWh battery storage system. Both projects are located in Kings County, California. Under the long-term agreements, Canadian Solar will be responsible for various O&M obligations across both projects, including plant monitoring, NERC registration, performance management and preventative and corrective maintenance. Canadian Solar services will help to increase site availability, minimize downtime and maximize the value of the projects. These contracts further solidify Canadian Solar's position as a leading solar and energy storage O&M provider. The Company now boasts with a global O&M portfolio of nearly 4 GWp of solar and 860 MWh of storage projects under contract across nine countries, of which 2.3 GWp of solar projects are currently in operation. These projects include both Canadian Solar as well as third-party developed projects. The Company expects to meaningfully scale its O&M business, targeting to reach 11 GWp of operational solar projects by 2025, expanding its share of stable income.
Canadian Solar Inc. Reiterates Revenue Guidance for the Full Year 2021; Provides Revenue Guidance for the Third Quarter of 2021
2021-08-12 10:02:00
Canadian Solar Inc. reiterated revenue guidance for the full year 2021. The Company reiterates its expectation that full year 2021 revenue will be in the range of $5.6 billion to $6.0 billion, while slightly reducing its full year 2021 total module shipment guidance to 16 GW to 17 GW from 18 GW to 20 GW previously. For the third quarter of 2021, the Company expects total module shipments to be in the range of 3.8 GW to 4.0 GW, including approximately 275 MW of module shipments to the Company's own projects. Total revenues are expected to be in the range of $1.2 billion to $1.4 billion.
Canadian Solar Inc. Raises USD 100 Million from BTG Pactual and Itaú BBA to Support Execution of Brazil Project Portfolio
2021-07-27 11:00:00
Canadian Solar Inc. announced that it has closed a BRL 500 million (approximately USD 100 million) financing facility with Brazilian banks BTG Pactual and Itaú BBA. Canadian Solar will use the financing facility for the development and construction of solar projects in Brazil, where the Company has established a leadership position in the solar energy market. The facility will fund up to 70% of Canadian Solar's equity contributions in a subset of its Brazilian project portfolio, a unique structure in the local market. BTG Pactual and Itaú BBA, two leading investment and commercial banks in Brazil and long-term Canadian Solar partners in Latin America, are also financial advisors to the Company's Brazilian portfolio. Canadian Solar has developed and contracted in federal, regional and private PPA auctions nearly 3 GWp of solar projects in Brazil. Of this, 480 MWp are in operation and have been sold to third parties, 483 MWp are under construction (with 80% interest already sold), and an additional 2 GWp are under development with PPA contracts. Canadian Solar's portfolio in Brazil the market and the financing facility will support the plan to establish a publicly listed vehicle (FIP-IE) with operating projects, depending on market conditions, while providing flexibility on the timing of monetizing projects.
Canadian Solar Inc., Q2 2021 Earnings Call, Aug 12, 2021
2021-07-22 11:00:00
Canadian Solar Inc., Q2 2021 Earnings Call, Aug 12, 2021
Canadian Solar Signs 12 MWp Private PPA with Centrica Energy Trading in Italy
2021-07-14 11:00:00
Canadian Solar Inc. announced it has signed a 10-year power purchase agreement (PPA) with Centrica Energy Trading A/S ("Centrica Energy Trading") for two solar power projects totaling 12 MWp in Italy. Centrica Energy Trading is a leading provider of energy management and optimization services, operating in power, gas and energy certificate markets across Europe. The two solar projects of 6 MWp each are located in Trapani and Enna, Sicily. They are currently under development by Canadian Solar with construction planned to start before the end of 2021. Centrica Energy Trading will purchase the clean solar energy produced by the two solar power projects after they reach commercial operation in April 2022. Powered by Canadian Solar's high efficiency modules, the solar plants will produce approximately 23 GWh electricity annually, enough to power close to 9,000 homes in Italy and equivalent to displacing 7,150 tons of annual carbon emissions.
Canadian Solar Wins the First Energy Storage Project in Colombia of 45 MWh
2021-07-12 11:00:00
Canadian Solar Inc. announced it has been awarded the first utility-scale battery storage project in Colombia of 45 MW /45 MWh. The project was awarded in the public tender launched by Colombia'sMinistry of Energy and Mines, via its affiliate UPME, the Mining and Energy Planning Unit. Located in the city of Barranquilla in northern Colombia, this project will consist of a 45 MWh lithium-ion battery energy storage system and is expected to reach commercial operation by June 2023. The project is granted with a 15-year revenue structure with the Colombian government and is indexed to the country's inflation or producer price index. The Barranquilla project will strengthen the electricity transmission network in the Atlántico Department in northern Colombia and support the government's efforts to prevent future supply deficits. It will also support a greater penetration of renewable energy in the Colombian electricity system by improving the reliability of intermittent sources of energy.
Canadian Solar Secures 86 Mwp in Japan's 8Th Solar Auction
2021-06-29 11:00:00
Canadian Solar Inc. announced that it has been awarded 86 MWp in Japan's 8th solar energy auction, accounting for the largest share of the total capacity auctioned. The total of 86 MWp includes three projects located in the Tohoku region: an 80 MWp project in Miyagi Prefecture, a 3 MWp project located in Fukushima Prefecture and a 3 MWp project located in Aomori Prefecture. Once constructed, these projects will enter into a 20-year power purchase agreement with Tohoku Power Electric Company at a weighted average rate of ¥10.77 ($0.098) per kWh. The Company expects the projects to reach commercial operation between the years of 2024 and 2026.
Fundamental Summary
Looking at Canadian's financials of Q1 reflected decent results. We do believe, though, that macro-related market conditions will influence their performance more significantly than its individual results. Overall, Canadian's growth and income factors are trending positively, and we, therefore, give Canadian an overall grade of 71 and a HOLD recommendation.
Canadian reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 1,250.35 million compared to USD 1,089.34 million a year ago. Net income was USD 9.21 million compared to USD 22.78 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.36 a year ago.
Business Description
Canadian, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories; and engineering, procurement, and construction (EPC) services. The Global Energy segment engages in the development, construction, maintenance, and sale of solar and battery storage projects; operation of solar power plants; and sale of electricity. This segment also provides operation and maintenance (O&M) services, including monitoring, inspections, repair, and replacement of plant equipment; and site management and administrative support services for solar projects, as well as asset management services. As of January 31, 2021, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 445 MWp. The company serves distributors, system integrators, project developers, and installers/EPC companies. It sells its products primarily under its Canadian Solar brand name; and on an OEM basis. The company was incorporated in 2001 and is headquartered in Guelph, Canada.
Sector Overview
Canadian is included in the Semiconductors & Semiconductor Equipment according to GICS (global industry classification standard). The Semiconductors & Semiconductor Equipment industry is part of the Information Technology sector. It includes manufacturers of semiconductors, semiconductor equipment, and related products. Canadian's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.
Fundamental Highlights
| Parameter | Value | Change | Score | |
|---|---|---|---|---|
| Assets | 8,372.6 | 13.3% | 54 | |
| Liabilities | 6,227.9 | 18.4% | 91 | |
| Price to Book | 1.0 | -6.8% | 62 | |
| Cash & Equivalents | 844.6 | -2.9% | 62 | |
| Equity | 1,818.2 | 1.0% | 59 |
| Parameter | Value | Change | Score | |
|---|---|---|---|---|
| EBITDA | 515.2 | 20.4% | 76 | |
| Total Revenues | 5,438.2 | 3.1% | 73 | |
| Return on Equity | 5.2 | -4.2% | 53 | |
| Asset Turnover | 0.7 | -5.7% | 66 |
* All values are TTM
The below chart reflects Canadian's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Canadian's peer average final assessment score stands on 67.0, Canadian's score is 71.
- CSIQ
- Peers average
Technical Analysis
When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Canadian's stock is now priced above its 50-day, but below its 5-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the medium-term. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Canadian's stock doesn't strongly signal being overbought or oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 57.
5D MA
32.36
50D MA
29.93
200D MA
32.52
MACD
0.5
RSI
51.54
STOCH
55.88
Balance Sheet Analysis
Canadian's recently published balance sheet conveys disappointing growth, particularly with respect to Assets and Equity metrics. Mediocre performance in terms of assets could drop the bar on expectations for Canadian's future attractiveness, as they changed to 8372.6 in the latest filing. This works out to a 13.3% change from the last period. The lack of good news about assets momentum should be a cause for concern and is often met with downward pressure on the company's stock price. Its asset component, therefore, received a grade of 54. Also, Canadian management produced disappointing equity metrics this period, which stood at 1818.2, representing a 1.0% change. This parameter often affects companies in the same industry and market capitalization by up to 7.7%. These metrics are all the more disappointing relative to their peers and should blunt potential positive momentum in its's stock price. Its equity movement component, therefore, received a grade of 59. On the other hand, Liabilities, jumped out as looking rather positive. In terms of liabilities, Canadian published good numbers. Their reported liabilities were 6227.9, representing a 18.4% change from the previous report. This performance is all interesting relative to their peers and suggests that their stock price has room to grow to reflect a higher intrinsic value. Therefore, we rated their liabilities movement with a score of 91. Therefore, their balance sheet earned a grade of 59.
| Parameter | Value | Change | Score |
|---|---|---|---|
| Assets | 8,372.6 | 13.3% | 54 |
| Liabilities | 6,227.9 | 18.4% | 91 |
| Price to Book | 1.0 | -6.8% | 62 |
| Cash & Equivalents | 844.6 | -2.9% | 62 |
| Equity | 1,818.2 | 1.0% | 59 |
The below chart describes Canadian's performance as reflected on its balance sheet with respect to its peers. While Canadian received a balance sheet score of 59, the average of its peers stands on 68.0.
- CSIQ
- Peers average
| Name | Market Cap | Liabilities Movement | Asset Change | Equity/Intangibles Adjustments | Cash & Equivalents | Book Value Momentum | Balance Sheet | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|---|---|
| NVIDIA Corporation | 400.2B | 78 | 70 | 65 | 97 | 54 | 71 | 0 | 1 |
| Intel Corporation | 154.5B | 65 | 69 | 76 | 90 | 81 | 77 | 1 | 1 |
| QUALCOMM Incorporated | 147.4B | 57 | 71 | 96 | 80 | 80 | 82 | 2 | 1 |
| Texas Instruments Incorporated | 142.2B | 63 | 69 | 87 | 46 | 84 | 76 | 3 | 1 |
| Advanced Micro Devices, Inc. | 130.9B | 93 | 61 | 78 | 96 | 80 | 88 | 4 | 1 |
| Broadcom Inc. | 102.5B | 67 | 79 | 58 | 56 | 55 | 62 | 5 | 1 |
| Applied Materials, Inc. | 82.7B | 71 | 72 | 63 | 41 | 55 | 60 | 6 | 1 |
| Analog Devices, Inc. | 77.2B | 62 | 80 | 66 | 66 | 66 | 69 | 7 | 1 |
| Micron Technology, Inc. | 64.6B | 73 | 69 | 85 | 76 | 74 | 81 | 8 | 1 |
| Lam Research Corporation | 60.8B | 72 | 77 | 58 | 51 | 45 | 60 | 9 | 1 |
| KLA Corporation | 49.3B | 75 | 62 | 73 | 53 | 66 | 66 | 10 | 1 |
| NXP Semiconductors N.V. | 40.5B | 71 | 68 | 56 | 62 | 76 | 64 | 11 | 1 |
| Marvell Technology, Inc. | 38.5B | 71 | 84 | 50 | 46 | 51 | 60 | 12 | 1 |
| Microchip Technology Incorporated | 33.0B | 65 | 84 | 76 | 72 | 66 | 79 | 13 | 1 |
| GLOBALFOUNDRIES Inc. | 23.9B | 81 | 65 | 74 | 82 | 74 | 78 | 14 | 1 |
| ON Semiconductor Corporation | 22.9B | 74 | 68 | 77 | 89 | 82 | 81 | 15 | 1 |
| Monolithic Power Systems, Inc. | 18.5B | 85 | 64 | 76 | 92 | 80 | 84 | 16 | 1 |
| Skyworks Solutions, Inc. | 15.5B | 69 | 77 | 63 | 46 | 52 | 62 | 17 | 1 |
| SolarEdge Technologies, Inc. | 15.5B | 77 | 62 | 78 | 96 | 85 | 81 | 18 | 1 |
| Teradyne, Inc. | 15.3B | 49 | 81 | 62 | 45 | 47 | 52 | 19 | 1 |
| Entegris, Inc. | 14.1B | 62 | 70 | 75 | 55 | 78 | 70 | 20 | 1 |
| Qorvo, Inc. | 10.2B | 64 | 83 | 64 | 67 | 55 | 67 | 21 | 1 |
| First Solar, Inc. | 7.2B | 76 | 70 | 50 | 58 | 58 | 59 | 22 | 1 |
| Lattice Semiconductor Corporation | 6.8B | 53 | 79 | 78 | 60 | 64 | 68 | 23 | 1 |
| MKS Instruments, Inc. | 5.8B | 60 | 73 | 73 | 76 | 72 | 70 | 24 | 1 |
| Silicon Laboratories Inc. | 5.3B | 89 | 81 | 59 | 45 | 48 | 72 | 25 | 1 |
| Universal Display Corporation | 5.2B | 57 | 76 | 83 | 85 | 69 | 75 | 26 | 1 |
| CMC Materials, Inc. | 5.1B | 65 | 78 | 73 | 87 | 82 | 81 | 27 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 68 | 72 | 69 | 61 | 58 | 65 | 28 | 1 |
| Synaptics Incorporated | 4.9B | 71 | 71 | 79 | 92 | 76 | 81 | 29 | 1 |
| Power Integrations, Inc. | 4.4B | 56 | 82 | 58 | 79 | 53 | 61 | 30 | 1 |
| Amkor Technology, Inc. | 4.2B | 70 | 68 | 75 | 74 | 77 | 75 | 31 | 1 |
| Cirrus Logic, Inc. | 4.1B | 73 | 76 | 81 | 96 | 73 | 86 | 32 | 1 |
| Allegro MicroSystems, Inc. | 4.0B | 68 | 69 | 74 | 81 | 76 | 74 | 33 | 1 |
| Semtech Corporation | 3.5B | 58 | 79 | 68 | 67 | 64 | 67 | 34 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.3B | 65 | 75 | 74 | 38 | 74 | 70 | 35 | 1 |
| FormFactor, Inc. | 3.1B | 72 | 70 | 84 | 82 | 80 | 84 | 36 | 1 |
| Diodes Incorporated | 3.0B | 47 | 78 | 71 | 51 | 71 | 62 | 37 | 1 |
| SunPower Corporation | 3.0B | 72 | 81 | 42 | 83 | 54 | 61 | 38 | 1 |
| Silicon Motion Technology Corporation | 2.8B | 40 | 85 | 60 | 40 | 48 | 54 | 39 | 1 |
| MaxLinear, Inc. | 2.7B | 68 | 71 | 75 | 85 | 74 | 76 | 40 | 1 |
| Nova Ltd. | 2.7B | 86 | 45 | 75 | 48 | 82 | 61 | 41 | 1 |
| Ambarella, Inc. | 2.6B | 46 | 75 | 74 | 86 | 65 | 64 | 42 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.6B | 46 | 83 | 60 | 76 | 56 | 58 | 43 | 1 |
| Rambus Inc. | 2.4B | 43 | 83 | 41 | 95 | 54 | 48 | 44 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 76 | 68 | 84 | 71 | 73 | 81 | 45 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 94 | 61 | 78 | 79 | 86 | 88 | 46 | 1 |
| Himax Technologies, Inc. | 1.6B | 78 | 55 | 91 | 85 | 95 | 77 | 47 | 1 |
| Impinj, Inc. | 1.4B | 63 | 68 | 79 | 39 | 92 | 72 | 48 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 56 | 78 | 69 | 48 | 67 | 63 | 49 | 1 |
| Cohu, Inc. | 1.3B | 53 | 82 | 57 | 59 | 58 | 58 | 50 | 1 |
| Photronics, Inc. | 1.2B | 53 | 85 | 66 | 76 | 66 | 69 | 51 | 1 |
| SMART Global Holdings, Inc. | 1.0B | 89 | 63 | 75 | 95 | 82 | 86 | 52 | 1 |
| Veeco Instruments Inc. | 1.0B | 84 | 71 | 41 | 78 | 47 | 58 | 53 | 1 |
| Alpha and Omega Semiconductor Limited | 929.5M | 89 | 63 | 68 | 87 | 67 | 77 | 54 | 1 |
| PDF Solutions, Inc. | 808.6M | 54 | 81 | 63 | 90 | 51 | 63 | 55 | 1 |
| CEVA, Inc. | 778.5M | 81 | 74 | 60 | 87 | 60 | 73 | 56 | 1 |
| Ichor Holdings, Ltd. | 754.1M | 59 | 76 | 66 | 38 | 63 | 60 | 57 | 1 |
| Maxeon Solar Technologies, Ltd. | 575.9M | 87 | 68 | 40 | 78 | 38 | 53 | 58 | 1 |
| Enphase Energy, Inc. | 25.7B | 89 | 60 | 39 | 97 | 56 | 58 | 59 | 1 |
| Wolfspeed, Inc. | 8.2B | 96 | 63 | 59 | 97 | 55 | 74 | 60 | 1 |
| Daqo New Energy Corp. | 5.0B | 91 | 62 | 81 | 95 | 93 | 93 | 61 | 1 |
| SiTime Corporation | 3.6B | 57 | 67 | 66 | 73 | 64 | 59 | 62 | 1 |
| Onto Innovation Inc. | 3.6B | 83 | 70 | 67 | 72 | 73 | 78 | 63 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.2B | 86 | 62 | 77 | 94 | 94 | 89 | 64 | 1 |
| Camtek Ltd. | 1.1B | 63 | 61 | 82 | 37 | 90 | 66 | 65 | 1 |
| ACM Research, Inc. | 917.6M | 87 | 57 | 51 | 43 | 50 | 52 | 66 | 1 |
| NeoPhotonics Corporation | 838.5M | 89 | 66 | 49 | 72 | 64 | 66 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 60 | 93 | 47 | 85 | 74 | 72 | 68 | 1 |
| indie Semiconductor, Inc. | 720.1M | 48 | 54 | 72 | 56 | 55 | 44 | 69 | 1 |
| Magnachip Semiconductor Corporation | 667.1M | 56 | 78 | 79 | 72 | 72 | 74 | 70 | 1 |
| Mykrolis Corp. | 657.1M | 77 | 53 | 73 | 92 | 79 | 72 | 71 | 1 |
| Navitas Semiconductor Corporation | 533.1M | 37 | 80 | 80 | 62 | 79 | 67 | 72 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 60 | 71 | 61 | 60 | 69 | 56 | 73 | 1 |
| Rigetti Computing, Inc. | 413.5M | 93 | 62 | 85 | 99 | 98 | 98 | 74 | 1 |
| Meta Materials Inc. | 396.9M | 51 | 78 | 42 | 41 | 51 | 42 | 75 | 1 |
| Helix Technology Corporation | 364.9M | 65 | 78 | 79 | 85 | 52 | 65 | 76 | 1 |
| Valens Semiconductor Ltd. | 357.2M | 92 | 70 | 66 | 45 | 72 | 75 | 77 | 1 |
| Rockley Photonics Holdings Limited | 305.7M | 49 | 82 | 40 | 37 | 52 | 42 | 78 | 1 |
| CyberOptics Corporation | 272.8M | 71 | 66 | 72 | 64 | 86 | 75 | 79 | 1 |
| Transphorm, Inc. | 255.8M | 41 | 86 | 39 | 47 | 54 | 45 | 80 | 1 |
Income Statement Analysis
Canadian seems to be balancing strong EBITDA and Revenue Efficiency along with an overall impressive positive income statement. Canadian's management was effective in improving its EBIDTA, which now sits at 515.2 and represents a 20.4% change from the last reporting period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 17.7%. Its EBITDA metrics highlight an impressive overall financial performance, which is expected to continue moving forward. Consequently, their EBITDA movement received a grade of 76. Also, Canadian did an excellent job managing its revenue efficiency this past period. Canadian's revenue efficiency is 5438.2 according to the metrics in the current filing, which represents a 3.1% change from the previous report. This parameter often affects companies in the same industry and market capitalization by up to 15.7%. Their industry-leading revenue efficiency makes a strong case for upward pressure on its's stock price. The company's revenue efficiency, therefore, received a grade of 73. However, one discouraging result, Return Factors, stood out. Return factors metrics and ratios were disappointing in this report. Canadian reported a return on equity (ROE) ratio of 5.2, representing a change of -4.2% from the last report.change of -4.2% from the previous period. This metric might have a 4.8 percent impact on companies in the same industry and with the same market capitalization. The company's return factor metrics return on equity and return on assets are even more concerning when compared to their peers. Consequently, their return factors received a grade of 53. Consequently, the companie's income statement earned a rank of 72.
| Parameter | Value | Change | Score |
|---|---|---|---|
| EBITDA | 515.2 | 20.4% | 76 |
| Total Revenues | 5,438.2 | 3.1% | 73 |
| Return on Equity | 5.2 | -4.2% | 53 |
The below chart describes Canadian's performance as reflected on its income statement with respect to its peers. While Canadian received a income statement score of 72 , the average of its peers stands on 66.0.
- CSIQ
- Peers average
| Name | Market Cap | Revenue Momentum | Earning Movement | Return Factors Momentum | Income Statement | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|
| NVIDIA Corporation | 400.2B | 46 | 83 | 67 | 63 | 0 | 1 |
| Intel Corporation | 154.5B | 90 | 55 | 74 | 76 | 1 | 1 |
| QUALCOMM Incorporated | 147.4B | 48 | 87 | 78 | 66 | 2 | 1 |
| Texas Instruments Incorporated | 142.2B | 69 | 78 | 70 | 74 | 3 | 1 |
| Advanced Micro Devices, Inc. | 130.9B | 40 | 89 | 38 | 59 | 4 | 1 |
| Broadcom Inc. | 102.5B | 59 | 80 | 90 | 71 | 5 | 1 |
| Applied Materials, Inc. | 82.7B | 72 | 68 | 73 | 72 | 6 | 1 |
| Analog Devices, Inc. | 77.2B | 40 | 91 | 92 | 65 | 7 | 1 |
| Micron Technology, Inc. | 64.6B | 59 | 87 | 90 | 74 | 8 | 1 |
| Lam Research Corporation | 60.8B | 80 | 64 | 75 | 74 | 9 | 1 |
| KLA Corporation | 49.3B | 56 | 77 | 76 | 67 | 10 | 1 |
| NXP Semiconductors N.V. | 40.5B | 59 | 79 | 90 | 71 | 11 | 1 |
| Marvell Technology, Inc. | 38.5B | 41 | 89 | 87 | 64 | 12 | 1 |
| Microchip Technology Incorporated | 33.0B | 57 | 83 | 92 | 71 | 13 | 1 |
| GLOBALFOUNDRIES Inc. | 23.9B | 50 | 92 | 86 | 70 | 14 | 1 |
| ON Semiconductor Corporation | 22.9B | 53 | 92 | 94 | 73 | 15 | 1 |
| Monolithic Power Systems, Inc. | 18.5B | 45 | 90 | 83 | 66 | 16 | 1 |
| Skyworks Solutions, Inc. | 15.5B | 69 | 71 | 63 | 70 | 17 | 1 |
| SolarEdge Technologies, Inc. | 15.5B | 41 | 70 | 48 | 53 | 18 | 1 |
| Teradyne, Inc. | 15.3B | 88 | 57 | 62 | 75 | 19 | 1 |
| Entegris, Inc. | 14.1B | 56 | 80 | 80 | 69 | 20 | 1 |
| Qorvo, Inc. | 10.2B | 76 | 65 | 63 | 72 | 21 | 1 |
| First Solar, Inc. | 7.2B | 98 | 43 | 40 | 73 | 22 | 1 |
| Lattice Semiconductor Corporation | 6.8B | 54 | 88 | 89 | 71 | 23 | 1 |
| MKS Instruments, Inc. | 5.8B | 78 | 67 | 65 | 74 | 24 | 1 |
| Silicon Laboratories Inc. | 5.3B | 44 | 96 | 98 | 70 | 25 | 1 |
| Universal Display Corporation | 5.2B | 71 | 64 | 61 | 68 | 26 | 1 |
| CMC Materials, Inc. | 5.1B | 72 | 75 | 93 | 76 | 27 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 63 | 87 | 82 | 79 | 28 | 1 |
| Synaptics Incorporated | 4.9B | 45 | 91 | 90 | 68 | 29 | 1 |
| Power Integrations, Inc. | 4.4B | 80 | 76 | 82 | 80 | 30 | 1 |
| Amkor Technology, Inc. | 4.2B | 63 | 76 | 77 | 70 | 31 | 1 |
| Cirrus Logic, Inc. | 4.1B | 42 | 92 | 93 | 67 | 32 | 1 |
| Allegro MicroSystems, Inc. | 4.0B | 68 | 48 | 69 | 61 | 33 | 1 |
| Semtech Corporation | 3.5B | 64 | 84 | 87 | 75 | 34 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.3B | 74 | 77 | 72 | 76 | 35 | 1 |
| FormFactor, Inc. | 3.1B | 79 | 76 | 83 | 80 | 36 | 1 |
| Diodes Incorporated | 3.0B | 66 | 83 | 86 | 76 | 37 | 1 |
| SunPower Corporation | 3.0B | 49 | 43 | 74 | 49 | 38 | 1 |
| Silicon Motion Technology Corporation | 2.8B | 54 | 83 | 78 | 72 | 39 | 1 |
| MaxLinear, Inc. | 2.7B | 56 | 92 | 96 | 75 | 40 | 1 |
| Nova Ltd. | 2.7B | 41 | 89 | 78 | 69 | 41 | 1 |
| Ambarella, Inc. | 2.6B | 56 | 89 | 79 | 72 | 42 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.6B | 73 | 82 | 85 | 79 | 43 | 1 |
| Rambus Inc. | 2.4B | 48 | 86 | 60 | 64 | 44 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 44 | 91 | 91 | 67 | 45 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 38 | 88 | 61 | 60 | 46 | 1 |
| Himax Technologies, Inc. | 1.6B | 53 | 84 | 66 | 70 | 47 | 1 |
| Impinj, Inc. | 1.4B | 64 | 53 | 51 | 59 | 48 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 53 | 73 | 71 | 63 | 49 | 1 |
| Cohu, Inc. | 1.3B | 92 | 53 | 49 | 75 | 50 | 1 |
| Photronics, Inc. | 1.2B | 55 | 86 | 92 | 71 | 51 | 1 |
| SMART Global Holdings, Inc. | 1.0B | 48 | 87 | 66 | 65 | 52 | 1 |
| Veeco Instruments Inc. | 1.0B | 66 | 84 | 91 | 76 | 53 | 1 |
| Alpha and Omega Semiconductor Limited | 929.5M | 62 | 75 | 76 | 69 | 54 | 1 |
| PDF Solutions, Inc. | 808.6M | 49 | 95 | 88 | 71 | 55 | 1 |
| CEVA, Inc. | 778.5M | 51 | 90 | 97 | 71 | 56 | 1 |
| Ichor Holdings, Ltd. | 754.1M | 72 | 60 | 54 | 67 | 57 | 1 |
| Maxeon Solar Technologies, Ltd. | 575.9M | 50 | 49 | 60 | 49 | 58 | 1 |
| Enphase Energy, Inc. | 25.7B | 45 | 74 | 55 | 57 | 59 | 1 |
| Wolfspeed, Inc. | 8.2B | 49 | 90 | 86 | 69 | 60 | 1 |
| Daqo New Energy Corp. | 5.0B | 37 | 95 | 94 | 65 | 61 | 1 |
| SiTime Corporation | 3.6B | 40 | 93 | 78 | 64 | 62 | 1 |
| Onto Innovation Inc. | 3.6B | 47 | 87 | 89 | 67 | 63 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.2B | 38 | 89 | 82 | 62 | 64 | 1 |
| Camtek Ltd. | 1.1B | 50 | 81 | 71 | 68 | 65 | 1 |
| ACM Research, Inc. | 917.6M | 88 | 43 | 42 | 67 | 66 | 1 |
| NeoPhotonics Corporation | 838.5M | 45 | 95 | 90 | 69 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 90 | 59 | 63 | 70 | 68 | 1 |
| indie Semiconductor, Inc. | 720.1M | 37 | 46 | 71 | 43 | 69 | 1 |
| Magnachip Semiconductor Corporation | 667.1M | 94 | 80 | 88 | 90 | 70 | 1 |
| Mykrolis Corp. | 657.1M | 68 | 68 | 58 | 67 | 71 | 1 |
| Navitas Semiconductor Corporation | 533.1M | 56 | 44 | 74 | 53 | 72 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 87 | 49 | 76 | 66 | 73 | 1 |
| Rigetti Computing, Inc. | 413.5M | 92 | 43 | 69 | 72 | 74 | 1 |
| Meta Materials Inc. | 396.9M | 37 | 45 | 72 | 43 | 75 | 1 |
| Helix Technology Corporation | 364.9M | 89 | 47 | 50 | 74 | 76 | 1 |
| Valens Semiconductor Ltd. | 357.2M | 41 | 86 | 65 | 65 | 77 | 1 |
| Rockley Photonics Holdings Limited | 305.7M | 97 | 50 | 85 | 79 | 78 | 1 |
| CyberOptics Corporation | 272.8M | 54 | 86 | 87 | 71 | 79 | 1 |
| Transphorm, Inc. | 255.8M | 37 | 81 | 97 | 68 | 80 | 1 |
Cash Flow Analysis
Overall, Canadian's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth going forward. Canadian's published capital expenditures (CapEx) numbers were encouraging and reflected management's balanced change strategy. Canadian recorded CapEx of nan, which represents 0.0% change from the previous report. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Therefore, its CapEx movement component earned a score of 74. However, one discouraging result, Asset Turnover, stood out. Canadian's asset turnover metrics were concerning and highlighted potential issues management is having effectively turning assets into sales efficiently. At filing, their asset turnover metrics were 0.7, representing a -5.7% change from the previous period. Companies in the same sector and market capitalization will usually be affected by up to 2.2 percent by this parameter. Their lackluster asset turnover metrics, specifically in contrast to leading industry peers' performance, could present significant headwinds. Underwhelming results in asset turnover metrics often lead to negative pressure in stock prices, so we rated its asset turnover momentum 66. Because their management is doing an excellent job managing these critical metrics, the cash_flow was given a score of 71.
| Parameter | Value | Change | Score |
|---|---|---|---|
| Asset Turnover | 0.7 | -5.7% | 66 |
The below chart describes Canadian's performance as reflected on its cash flow with respect to its peers. While Canadian received a cash flow score of 71, the average of its peers stands on 68.0.
- CSIQ
- Peers average
| Name | Market Cap | Cashflow Momentum | Free Cashflow Growth | Capital Expenditure Growth | Assets Factors Momentum | Cash Flow | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|---|
| NVIDIA Corporation | 400.2B | 93 | 65 | 61 | 86 | 82 | 0 | 1 |
| Intel Corporation | 154.5B | 58 | 72 | 68 | 53 | 58 | 1 | 1 |
| QUALCOMM Incorporated | 147.4B | 65 | 65 | 70 | 87 | 77 | 2 | 1 |
| Texas Instruments Incorporated | 142.2B | 74 | 74 | 63 | 69 | 70 | 3 | 1 |
| Advanced Micro Devices, Inc. | 130.9B | 93 | 66 | 69 | 37 | 57 | 4 | 1 |
| Broadcom Inc. | 102.5B | 75 | 76 | 87 | 89 | 85 | 5 | 1 |
| Applied Materials, Inc. | 82.7B | 75 | 59 | 69 | 72 | 69 | 6 | 1 |
| Analog Devices, Inc. | 77.2B | 78 | 76 | 51 | 94 | 84 | 7 | 1 |
| Micron Technology, Inc. | 64.6B | 81 | 85 | 81 | 74 | 80 | 8 | 1 |
| Lam Research Corporation | 60.8B | 72 | 60 | 56 | 75 | 69 | 9 | 1 |
| KLA Corporation | 49.3B | 70 | 76 | 52 | 79 | 74 | 10 | 1 |
| NXP Semiconductors N.V. | 40.5B | 59 | 72 | 51 | 85 | 73 | 11 | 1 |
| Marvell Technology, Inc. | 38.5B | 94 | 84 | 58 | 46 | 65 | 12 | 1 |
| Microchip Technology Incorporated | 33.0B | 80 | 79 | 48 | 84 | 79 | 13 | 1 |
| GLOBALFOUNDRIES Inc. | 23.9B | 54 | 86 | 45 | 64 | 63 | 14 | 1 |
| ON Semiconductor Corporation | 22.9B | 60 | 79 | 55 | 74 | 70 | 15 | 1 |
| Monolithic Power Systems, Inc. | 18.5B | 84 | 78 | 59 | 74 | 77 | 16 | 1 |
| Skyworks Solutions, Inc. | 15.5B | 78 | 57 | 79 | 73 | 71 | 17 | 1 |
| SolarEdge Technologies, Inc. | 15.5B | 46 | 38 | 55 | 52 | 43 | 18 | 1 |
| Teradyne, Inc. | 15.3B | 75 | 65 | 66 | 68 | 68 | 19 | 1 |
| Entegris, Inc. | 14.1B | 61 | 57 | 50 | 76 | 65 | 20 | 1 |
| Qorvo, Inc. | 10.2B | 78 | 65 | 87 | 71 | 73 | 21 | 1 |
| First Solar, Inc. | 7.2B | 47 | 85 | 56 | 46 | 53 | 22 | 1 |
| Lattice Semiconductor Corporation | 6.8B | 79 | 77 | 43 | 82 | 77 | 23 | 1 |
| MKS Instruments, Inc. | 5.8B | 58 | 58 | 92 | 56 | 59 | 24 | 1 |
| Silicon Laboratories Inc. | 5.3B | 71 | 89 | 81 | 87 | 86 | 25 | 1 |
| Universal Display Corporation | 5.2B | 75 | 81 | 68 | 65 | 71 | 26 | 1 |
| CMC Materials, Inc. | 5.1B | 72 | 66 | 68 | 80 | 74 | 27 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 76 | 57 | 55 | 59 | 68 | 28 | 1 |
| Synaptics Incorporated | 4.9B | 85 | 62 | 98 | 55 | 66 | 29 | 1 |
| Power Integrations, Inc. | 4.4B | 88 | 77 | 64 | 82 | 82 | 30 | 1 |
| Amkor Technology, Inc. | 4.2B | 46 | 57 | 62 | 71 | 60 | 31 | 1 |
| Cirrus Logic, Inc. | 4.1B | 83 | 98 | 61 | 90 | 90 | 32 | 1 |
| Allegro MicroSystems, Inc. | 4.0B | 56 | 56 | 77 | 56 | 56 | 33 | 1 |
| Semtech Corporation | 3.5B | 79 | 78 | 58 | 79 | 77 | 34 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.3B | 46 | 78 | 54 | 78 | 68 | 35 | 1 |
| FormFactor, Inc. | 3.1B | 78 | 81 | 66 | 58 | 67 | 36 | 1 |
| Diodes Incorporated | 3.0B | 77 | 61 | 52 | 80 | 72 | 37 | 1 |
| SunPower Corporation | 3.0B | 84 | 41 | 39 | 93 | 74 | 38 | 1 |
| Silicon Motion Technology Corporation | 2.8B | 63 | 53 | 46 | 85 | 61 | 39 | 1 |
| MaxLinear, Inc. | 2.7B | 90 | 92 | 80 | 81 | 88 | 40 | 1 |
| Nova Ltd. | 2.7B | 58 | 53 | 39 | 58 | 54 | 41 | 1 |
| Ambarella, Inc. | 2.6B | 84 | 95 | 45 | 75 | 79 | 42 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.6B | 93 | 81 | 83 | 74 | 82 | 43 | 1 |
| Rambus Inc. | 2.4B | 96 | 73 | 89 | 88 | 89 | 44 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 81 | 77 | 68 | 84 | 82 | 45 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 60 | 85 | 37 | 43 | 53 | 46 | 1 |
| Himax Technologies, Inc. | 1.6B | 66 | 77 | 48 | 77 | 66 | 47 | 1 |
| Impinj, Inc. | 1.4B | 70 | 38 | 85 | 73 | 65 | 48 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 68 | 41 | 41 | 76 | 61 | 49 | 1 |
| Cohu, Inc. | 1.3B | 92 | 62 | 71 | 44 | 59 | 50 | 1 |
| Photronics, Inc. | 1.2B | 65 | 92 | 96 | 79 | 82 | 51 | 1 |
| SMART Global Holdings, Inc. | 1.0B | 48 | 85 | 95 | 53 | 62 | 52 | 1 |
| Veeco Instruments Inc. | 1.0B | 74 | 82 | 48 | 69 | 71 | 53 | 1 |
| Alpha and Omega Semiconductor Limited | 929.5M | 49 | 64 | 45 | 60 | 54 | 54 | 1 |
| PDF Solutions, Inc. | 808.6M | 81 | 98 | 45 | 92 | 89 | 55 | 1 |
| CEVA, Inc. | 778.5M | 57 | 54 | 84 | 83 | 71 | 56 | 1 |
| Ichor Holdings, Ltd. | 754.1M | 51 | 37 | 87 | 70 | 58 | 57 | 1 |
| Maxeon Solar Technologies, Ltd. | 575.9M | 87 | 90 | 59 | 88 | 84 | 58 | 1 |
| Enphase Energy, Inc. | 25.7B | 89 | 77 | 64 | 41 | 60 | 59 | 1 |
| Wolfspeed, Inc. | 8.2B | 57 | 74 | 76 | 46 | 55 | 60 | 1 |
| Daqo New Energy Corp. | 5.0B | 78 | 86 | 63 | 96 | 89 | 61 | 1 |
| SiTime Corporation | 3.6B | 83 | 87 | 56 | 44 | 62 | 62 | 1 |
| Onto Innovation Inc. | 3.6B | 94 | 65 | 88 | 85 | 85 | 63 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.2B | 68 | 69 | 73 | 78 | 74 | 64 | 1 |
| Camtek Ltd. | 1.1B | 69 | 70 | 74 | 72 | 71 | 65 | 1 |
| ACM Research, Inc. | 917.6M | 61 | 43 | 50 | 54 | 50 | 66 | 1 |
| NeoPhotonics Corporation | 838.5M | 50 | 63 | 67 | 87 | 71 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 64 | 63 | 74 | 73 | 68 | 68 | 1 |
| indie Semiconductor, Inc. | 720.1M | 69 | 80 | 52 | 98 | 85 | 69 | 1 |
| Magnachip Semiconductor Corporation | 667.1M | 65 | 56 | 76 | 54 | 57 | 70 | 1 |
| Mykrolis Corp. | 657.1M | 65 | 69 | 68 | 82 | 75 | 71 | 1 |
| Navitas Semiconductor Corporation | 533.1M | 70 | 87 | 94 | 93 | 90 | 72 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 66 | 64 | 68 | 94 | 73 | 73 | 1 |
| Rigetti Computing, Inc. | 413.5M | 48 | 76 | 51 | 60 | 58 | 74 | 1 |
| Meta Materials Inc. | 396.9M | 85 | 56 | 68 | 97 | 84 | 75 | 1 |
| Helix Technology Corporation | 364.9M | 75 | 62 | 63 | 56 | 61 | 76 | 1 |
| Valens Semiconductor Ltd. | 357.2M | 53 | 89 | 90 | 47 | 66 | 77 | 1 |
| Rockley Photonics Holdings Limited | 305.7M | 79 | 72 | 66 | 47 | 60 | 78 | 1 |
| CyberOptics Corporation | 272.8M | 49 | 74 | 89 | 77 | 72 | 79 | 1 |
| Transphorm, Inc. | 255.8M | 81 | 88 | 96 | 95 | 88 | 80 | 1 |
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