FSLR vs CSIQ Stock Comparison: AI Score, Valuation, Performance and Upside
FSLR is the U.S.-domestic thin-film solar module leader with significant IRA incentive tailwinds and strong utility-scale backlog, while CSIQ is a larger global module shipper manufacturing primarily in China that faces U.S. tariff headwinds but benefits from global scale across multiple markets. They compete primarily in utility-scale project procurement.
FSLR vs CSIQ compares the dominant U.S.-domestic solar module manufacturer with significant IRA incentives against a global silicon module shipper with broader geographic reach but more exposure to trade policy risk.
FSLR holds the edge across 4 of 5 key metrics in this comparison. CSIQ has delivered stronger 1-year price return (-3.14% vs -6.52%), though FSLR has the better forward P/E setup (8.85x vs -4.35x for CSIQ). FSLR leads on both revenue growth (-3.70%) and operating margin (42.64%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies similar upside for both: +34.66% for FSLR and +34.51% for CSIQ.
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want exposure to the only large U.S.-manufactured solar module company with significant IRA subsidy benefits
- Value First Solar's long-term utility-scale order backlog providing multi-year revenue visibility
- Believe U.S. domestic solar manufacturing will sustain policy advantages over imported alternatives
- Want broader global solar module exposure across multiple markets beyond the U.S.
- See value in Canadian Solar's integrated model spanning module manufacturing and project development
- Believe global solar demand growth will benefit large-scale module shippers regardless of U.S. trade policy
| Metric | FSLR | CSIQ |
|---|---|---|
| AI scorei | 52.6 | 33.3 |
| AI ranki | #382 | #2035 |
| Latest closei | $195.96 | $11.40 |
| 1M returni | -11.89% | -27.76% |
| 6M returni | -1.85% | -20.06% |
| 1Y returni | -6.52% | -3.14% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | FSLR | CSIQ |
|---|---|---|
| 1Y ago | $9.35K (-6.5%) started 2025-09-18 | $9.69K (-3.1%) started 2025-09-18 |
| 5Y ago | $20.48K (+104.8%) started 2021-09-20 | $3.32K (-66.8%) started 2021-09-20 |
| 10Y ago | $56.93K (+469.3%) started 2016-09-19 | $9.48K (-5.2%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | FSLR | CSIQ |
|---|---|---|
| Market capi | $21.97B | $907.1M |
| Trailing P/Ei | 12.61 | N/A |
| Forward P/Ei | 8.85 | -4.35 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 3.80 | 1.65 |
| Analyst targeti | $275.30 | $17.97 |
| Target upsidei | +34.66% | +34.51% |
| Metric | FSLR | CSIQ |
|---|---|---|
| Revenue growthi | -3.70% | -28.70% |
| Earnings growthi | 23.30% | N/A |
| EPS growthi | +23.30% | N/A |
| FCF margini | +29.73% | -25.81% |
| Operating margini | 42.64% | -5.88% |
| Profit margini | 32.46% | -3.73% |
| ROIC proxyi | 18.51% | -5.97% |
| Return on equityi | 18.51% | -5.97% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 1.73 | 1.54 |
| Debt/equityi | 1.88 | 172.31 |
| Current ratioi | 2.52 | 1.02 |
| Quick ratioi | 1.70 | 0.43 |
Over the past year, FSLR and CSIQ have moved moderately in the same direction (correlation of 0.51), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | FSLR | CSIQ |
|---|---|---|---|
| 1Y | Growthi | -6.52% | -3.14% |
| CAGRi | -6.53% | -3.15% | |
| Volatilityi | 53.72% | 93.59% | |
| Sharpe ratioi | 0.06 | 0.39 | |
| Sortino ratioi | 0.09 | 0.56 | |
| Max drawdowni | 39.96% | 66.23% | |
| Current drawdowni | 38.43% | 66.05% | |
| Avg drawdowni | 18.94% | 39.96% | |
| Ulcer Indexi | 22.67% | 44.55% | |
| Max daily dropi | 13.61% | 26.94% | |
| Max wkly dropi | 21.67% | 32.61% | |
| 5Y | Growthi | +104.79% | -66.77% |
| CAGRi | +15.43% | -19.80% | |
| Volatilityi | 54.49% | 72.50% | |
| Sharpe ratioi | 0.45 | -0.00 | |
| Sortino ratioi | 0.70 | -0.01 | |
| Max drawdowni | 59.97% | 85.62% | |
| Current drawdowni | 38.43% | 75.75% | |
| Avg drawdowni | 25.86% | 47.72% | |
| Ulcer Indexi | 29.91% | 53.65% | |
| Max daily dropi | 17.89% | 26.94% | |
| Max wkly dropi | 21.67% | 32.61% | |
| 10Y | Growthi | +469.32% | -5.16% |
| CAGRi | +19.00% | -0.53% | |
| Volatilityi | 50.92% | 63.91% | |
| Sharpe ratioi | 0.51 | 0.24 | |
| Sortino ratioi | 0.77 | 0.35 | |
| Max drawdowni | 61.26% | 89.46% | |
| Current drawdowni | 38.43% | 82.23% | |
| Avg drawdowni | 23.70% | 40.57% | |
| Ulcer Indexi | 27.83% | 48.54% | |
| Max daily dropi | 17.89% | 26.94% | |
| Max wkly dropi | 25.40% | 32.61% |
| Category | FSLR | CSIQ |
|---|---|---|
| Company | First Solar, Inc. | Canadian Solar Inc. |
| Sector | Technology | Technology |
| Industry | Solar | Solar |
| Core business | First Solar manufactures thin-film cadmium telluride (CdTe) solar modules, primarily for utility-scale solar projects, with manufacturing facilities in the United States, Malaysia, and Vietnam — the only large U.S.-based solar module manufacturer. | Canadian Solar is a global solar energy company headquartered in Canada but manufacturing primarily in China, producing crystalline silicon solar modules for residential, commercial, and utility-scale projects, as well as developing and operating solar power plants globally. |
| Investor focus | Investors track First Solar's manufacturing capacity buildout, module average selling price and margin trends, and its order backlog which reflects visibility into future revenue. | Investors track Canadian Solar's module shipment volumes and average selling prices, solar project development and sale pipeline, and the separation or potential IPO of its recurrent energy project development business. |
- Only large-scale U.S.-manufactured solar module producer, benefiting significantly from IRA domestic manufacturing incentives
- CdTe thin-film technology uses less energy to manufacture and performs better in high-temperature, diffuse-light conditions versus standard silicon panels
- Long-term order backlog of multi-gigawatts provides multi-year revenue visibility
- One of the world's largest solar module shipment volumes with broad global distribution
- Integrated business spanning module manufacturing and project development provides revenue diversification
- Project development business (Recurrent Energy) creates a higher-value recurring revenue opportunity
- CdTe technology has lower efficiency than the best silicon panels, which can be a disadvantage in space-constrained utility projects
- Manufacturing capacity ramps require significant capital investment ahead of revenue
- Concentrated in utility-scale projects, limiting residential solar market exposure
- Chinese manufacturing base makes Canadian Solar subject to U.S. tariffs and trade policy changes that constrain its U.S. market access
- Module prices have declined sharply due to global oversupply, pressuring margins across the industry
- Separation or IPO of Recurrent Energy has been discussed but not completed
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