CSI Solar Co. Ltd. A (688472) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of CSI Solar Co. Ltd. A stock ¥5.85, price ¥8.76, that is 33.2% below the price, quality 33 out of 100. Rating: overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
41‑month range ¥7.66 – ¥23.75 · fair‑value band ¥4.82 – ¥7.61 · the ¥8.76 price screens above the ¥5.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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CSI Solar Co., Ltd. designs, processes, produces, and sells solar modules and photovoltaic systems in China and internationally. It operates through three segments: Components Business, Energy Business, and Energy Storage Business segments.
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The company offers crystalline silicon photovoltaic modules, solar system kits, inverters, and solar energy and battery energy storage systems, as well as components, silicon rods, batteries, and battery cells.
It also engages in solar power and battery energy storage projects; and construction of solar power plants. In addition, the company provides engineering, procurement, and construction services. It serves the utility, commercial, residential, and industrial sectors.
The company was founded in 2009 and is headquartered in Suzhou, China. CSI Solar Co., Ltd. is a subsidiary of Canadian Solar Inc.
Stock analysis
CSI Solar Co. Ltd. A (688472) currently trades at ¥8.76, while our model-based Fair Value estimate is ¥5.85, 33% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥10.71 per share, and 6 of the 22 models we run sit above the ¥8.76 price.
Bear case: the Dividend Discount group reads lowest at ¥2.42, and 16 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥4.82 (bear) to ¥7.61 (bull), the price of ¥8.76 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 33/100 (below-average quality), in the Technology sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
CSI Solar Co. Ltd. A reported revenue of 40.3B CNY in FY2025 versus 28.0B CNY in FY2021, a compound +9.5%/yr. Reported net income was 1.0B CNY in FY2025, compounding +132.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 31.9B CNY (≈ $4.8B) Mid · P/S ratio 1.07 · EPS (TTM) ¥−0.0200 · Dividend yield 1.1% · Net margin −0.3% · Return on equity −0.2% · Return on assets (EBIT) 21.1% (5-year average) · Operating margin 0.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The share trades about 63% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 48% fair-value upside, at −33%, 688472 screens richer than that median.
Fair Value models
Bear¥4.82Fair Value ¥5.85Bull¥7.61
Price ¥8.76 · Downside -33.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+90.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+89.5%
Dividend (yield on the price)1.1%
Profit margin 2021 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.100% → 7%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+46.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+25.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +43.7% a year for the price and +23.5% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Solar · 97 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score33 · Below median
Fair Value upside−33.2% · Below median
Profitability
Return on assets1.6% · Above median
Net margin (12 months)−0.3% · Below median
Operating margin (12 months)0.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)−42.6% · Bottom 25%
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.31× · Below median
Valuation Multiplesvs Solar median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "CSI Solar Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688472
Frequently asked questions
Is CSI Solar Co. Ltd. A (688472) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of ¥5.85 versus a price of ¥8.76, about 33% lower (overvalued).
What is the fair value of 688472?
Our model-based fair value for CSI Solar Co. Ltd. A is ¥5.85 (as of Nov 4, 2026), built from audited fundamentals. The current price: ¥8.76.
What is the quality score of 688472?
CSI Solar Co. Ltd. A has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CSI Solar Co. Ltd. A (688472)?
Our model-based price target is the fair value of ¥5.85 (as of Nov 4, 2026) from 22 valuation models. Cautious scenario ¥4.82, optimistic scenario ¥7.61. It is a calculation from audited fundamentals, not an analyst target.
What is the CSI Solar Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥5.85, about 33% lower versus a price of ¥8.76 (overvalued). Cautious scenario ¥4.82, optimistic scenario ¥7.61. The calculation is refreshed regularly with new filings.
What is the revenue of CSI Solar Co. Ltd. A (688472)?
CSI Solar Co. Ltd. A reported trailing-twelve-month revenue of about 27.6B CNY (latest available figure, as of Nov 4, 2026).
Does CSI Solar Co. Ltd. A pay a dividend?
CSI Solar Co. Ltd. A currently shows a dividend yield of 1.13% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of CSI Solar Co. Ltd. A (688472) and when is the ex-dividend date?
CSI Solar Co. Ltd. A pays a dividend of ¥0.099 per share a year, a dividend yield of 1.1%. The last ex-dividend date was Jul 15, 2026. The payout ratio is 35.5% of earnings. Free cash flow covers the dividend 0.73 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into CSI Solar Co. Ltd. A (688472)?
For today's price to be fair in a discounted-cash-flow model, CSI Solar Co. Ltd. A would have to grow free cash flow by +46.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +9.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 688472 use?
Our models discount CSI Solar Co. Ltd. A at 9.6 %: a base by market capitalisation (mid), damped by beta 0.69, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CSI Solar Co. Ltd. A that is +46.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has CSI Solar Co. Ltd. A (688472) delivered so far?
Over the past 4 years revenue at CSI Solar Co. Ltd. A grew +9.5 % a year. The price currently implies free-cash-flow growth of +46.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CSI Solar Co. Ltd. A (688472) growing?
The median revenue growth in the sector is +16.8 % a year. That is the yardstick for the growth priced into CSI Solar Co. Ltd. A (+46.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CSI Solar Co. Ltd. A (688472)?
The free-cash-flow yield on the price is 0.83 %: that much free cash flow CSI Solar Co. Ltd. A produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CSI Solar Co. Ltd. A (688472)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CSI Solar Co. Ltd. A it is ¥5.85 per share (as of Nov 4, 2026), against a price of ¥8.76. It is the blended result of 22 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is CSI Solar Co. Ltd. A stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 688472 trades above its calculated fair value: price ¥8.76, fair value ¥5.85, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688472?
No. The price is what the market pays today (¥8.76); the fair value is what the company's own numbers justify (¥5.85). For CSI Solar Co. Ltd. A the two are ¥2.91 per share apart. That gap is exactly why we show both numbers side by side.
How much is CSI Solar Co. Ltd. A worth?
The market values CSI Solar Co. Ltd. A at about 31.9B CNY (market capitalisation, as of Nov 4, 2026). Per share that is ¥8.76; our models calculate a fair value of ¥5.85 per share.
What do the bullish and bearish scenarios say about 688472?
Our models span a range for CSI Solar Co. Ltd. A: cautious scenario ¥4.82, base ¥5.85, optimistic ¥7.61 per share (as of Nov 4, 2026, price ¥8.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 688472?
The PEG ratio of CSI Solar Co. Ltd. A is 0.18 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of CSI Solar Co. Ltd. A (688472)?
Balance-sheet figures for CSI Solar Co. Ltd. A (as of Nov 4, 2026): return on equity −0.2%, debt of 0.31 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is 688472 from its 52-week high?
CSI Solar Co. Ltd. A trades at ¥8.76, about 63% below its 52-week high of ¥23.75 and 14% above the low of ¥7.66 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ¥5.85 is for.
Which stocks are comparable to CSI Solar Co. Ltd. A?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CSI Solar Co. Ltd. A stock attractive at the current price?
The data as of Nov 4, 2026: price ¥8.76, calculated fair value ¥5.85 (−33%), Quality Score 33/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688472 calculated?
We run CSI Solar Co. Ltd. A through 22 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥5.85 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. CSI Solar Co. Ltd. A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CSI Solar Co. Ltd. A (688472)?
The closing price on Nov 9, 2026 was ¥8.76. Our model-based fair value is ¥5.85, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CSI Solar Co. Ltd. A right now?
The price sits above even our optimistic bull case (¥7.61). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of CSI Solar Co. Ltd. A
How large is the market capitalisation of CSI Solar Co. Ltd. A (688472)?
The market capitalisation of CSI Solar Co. Ltd. A is 31.9B CNY (≈ $4.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CSI Solar Co. Ltd. A (688472)?
The price-to-sales ratio of CSI Solar Co. Ltd. A is 1.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CSI Solar Co. Ltd. A (688472)?
Earnings per share at CSI Solar Co. Ltd. A are ¥−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CSI Solar Co. Ltd. A (688472)?
The dividend yield of CSI Solar Co. Ltd. A is 1.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CSI Solar Co. Ltd. A (688472)?
The net margin of CSI Solar Co. Ltd. A is −0.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CSI Solar Co. Ltd. A (688472)?
The return on equity (ROE) of CSI Solar Co. Ltd. A is −0.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CSI Solar Co. Ltd. A (688472)?
On an EBIT basis the return on assets of CSI Solar Co. Ltd. A is 21.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CSI Solar Co. Ltd. A (688472)?
The operating margin of CSI Solar Co. Ltd. A is 0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CSI Solar Co. Ltd. A (688472)?
Revenue at CSI Solar Co. Ltd. A is growing −42.6% versus a year earlier (3y avg −5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CSI Solar Co. Ltd. A (688472)?
Earnings per share at CSI Solar Co. Ltd. A are growing +13.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CSI Solar Co. Ltd. A (688472) carry?
The net debt of CSI Solar Co. Ltd. A is 2.1B CNY (fiscal year 2025, ≈ 8.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 4, 2026