Dec. 18 at 8:26 PM
📊
$CSIQ — Let’s do the math (again)
Assume 2026–27:
• 5 GW U.S. cells + 5 GW modules
• 3–6 GWh U.S. batteries
•
$685–820M/year in 45X credits at scale
Now assume very modest improvement:
• Net margin rises to just ~2% (not heroic in an IRA world)
• Revenue ~
$8–10B over cycle
That’s
$160–200M base net income
PLUS
$480–575M net from credits (70% of 45X)
➡️
$640–775M total net income
~63M shares =
$10–12+ EPS
Cheap energy demand isn’t slowing.
Credits are statutory.
Margins don’t need to be great — just not terrible.
Market still pricing
$CSIQ like none of this exists.
$FSLR $ENPH $TSLA $NXT