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CSI Solar Valuation Multiples
Discover revenue and EBITDA valuation multiples for CSI Solar and similar public comparables like NOV Inc., Brookfield Renewable, SOLV Energy, SBM Offshore and more.
CSI Solar Overview
About CSI Solar
CSI Solar is a leading Chinese solar module producer, ranking seventh by solar module shipments in 2024. The company's products are available in over 160 countries and regions. CSI operates a vertically integrated production process, encompassing solar wafers, cells, and module production.
Founded
2009
HQ
Employees
15.8K
Website
Financials (LTM)
EV
$8B
CSI Solar Financials
CSI Solar reported last 12-month revenue of $6B and EBITDA of $733M.
In the same LTM period, CSI Solar generated $384M in gross profit, $733M in EBITDA, and $211M in net income.
Revenue (LTM)
CSI Solar P&L
In the most recent fiscal year, CSI Solar reported revenue of $7B and EBITDA of $950M.
CSI Solar expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $7B | XXX | XXX | XXX |
| Gross Profit | $384M | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | 6% | XXX | 15% | XXX | XXX | XXX |
| EBITDA | $733M | XXX | $950M | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 14% | XXX | XXX | XXX |
| EBIT Margin | 4% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $211M | XXX | $329M | XXX | XXX | XXX |
| Net Margin | 3% | XXX | 5% | XXX | XXX | XXX |
| Net Debt | — | — | $387M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
CSI Solar Stock Performance
CSI Solar has current market cap of $7B, and enterprise value of $8B.
Market Cap Evolution
CSI Solar's stock price is $2.02.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $8B | $7B | 7.9% | XXX | XXX | XXX | $0.09 |
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Start Free TrialCSI Solar Valuation Multiples
CSI Solar trades at 1.4x EV/Revenue multiple, and 11.2x EV/EBITDA.
EV / Revenue (LTM)
CSI Solar Financial Valuation Multiples
As of April 30, 2026, CSI Solar has market cap of $7B and EV of $8B.
Equity research analysts estimate CSI Solar's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
CSI Solar has a P/E ratio of 34.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV/Revenue | 1.4x | XXX | 1.2x | XXX | XXX | XXX |
| EV/EBITDA | 11.2x | XXX | 8.6x | XXX | XXX | XXX |
| EV/EBIT | 34.3x | XXX | 12.9x | XXX | XXX | XXX |
| EV/Gross Profit | 21.3x | XXX | 8.1x | XXX | XXX | XXX |
| P/E | 34.8x | XXX | 22.3x | XXX | XXX | XXX |
| EV/FCF | — | XXX | (10.3x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified CSI Solar Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
CSI Solar Margins & Growth Rates
CSI Solar's revenue in the last fiscal year declined by (13%).
CSI Solar's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.0M for the same period.
CSI Solar's rule of 40 is 22% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
CSI Solar's rule of X is 34% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
CSI Solar Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | (13%) | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 14% | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | (30%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 22% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 34% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 3% | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 4% | XXX | 1% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 6% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
CSI Solar Public Comps
See public comps and valuation multiples for other Clean Technology and Energy Equipment comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CSI Solar | XXX | XXX | XXX | XXX | XXX | XXX |
| NOV Inc. | XXX | XXX | XXX | XXX | XXX | XXX |
| Brookfield Renewable | XXX | XXX | XXX | XXX | XXX | XXX |
| SOLV Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| SBM Offshore | XXX | XXX | XXX | XXX | XXX | XXX |
| Shanghai Electric Power | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
CSI Solar M&A Activity
CSI Solar acquired XXX companies to date.
Last acquisition by CSI Solar was on XXXXXXXX, XXXXX. CSI Solar acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by CSI Solar
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialCSI Solar Investment Activity
CSI Solar invested in XXX companies to date.
CSI Solar made its latest investment on XXXXXXXX, XXXXX. CSI Solar invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by CSI Solar
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout CSI Solar
| When was CSI Solar founded? | CSI Solar was founded in 2009. |
| Where is CSI Solar headquartered? | CSI Solar is headquartered in China. |
| How many employees does CSI Solar have? | As of today, CSI Solar has over 15K employees. |
| Is CSI Solar publicly listed? | Yes, CSI Solar is a public company listed on Shanghai Stock Exchange. |
| What is the stock symbol of CSI Solar? | CSI Solar trades under 688472 ticker. |
| When did CSI Solar go public? | CSI Solar went public in 2023. |
| Who are competitors of CSI Solar? | CSI Solar main competitors are NOV Inc., Brookfield Renewable, SOLV Energy, SBM Offshore. |
| What is the current market cap of CSI Solar? | CSI Solar's current market cap is $7B. |
| What is the current revenue of CSI Solar? | CSI Solar's last 12 months revenue is $6B. |
| What is the current revenue growth of CSI Solar? | CSI Solar revenue growth (vs. last FY) is (13%). |
| What is the current EV/Revenue multiple of CSI Solar? | Current revenue multiple of CSI Solar is 1.4x. |
| Is CSI Solar profitable? | Yes, CSI Solar is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of CSI Solar? | CSI Solar's last 12 months EBITDA is $733M. |
| What is CSI Solar's EBITDA margin? | CSI Solar's last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of CSI Solar? | Current EBITDA multiple of CSI Solar is 11.2x. |
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