ARRY vs RNW vs CSIQ Stock Comparison

Array Technologies, ReNew Energy Global and Canadian Solar Prices as of Oct 27, 2026 Peers: Industry group
RNW ReNew Energy Global plc
$6.89 +0.7% 1M -8.7% 1Y
Market cap
$5.02B
P/E
20.5x
Revenue (TTM)
$1.50B
Div. yield
–
Renewable Power Producers Utilities
8 wins
CSIQ Canadian Solar Inc.
$9.67 -10.5% 1M -37.0% 1Y
Market cap
$655.72M
P/E
–
Revenue (TTM)
$4.99B
Div. yield
–
Solar Equipment Industrials

Head to Head

10 decided of 12

ReNew Energy Global leads on 8 of the 12 questions below (ReNew Energy Global 8, Array Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionARRYRNWCSIQLeader
Larger companyMarket capitalisation $522.09M $5.02B $655.72M RNW
Cheaper on earningsLower P/E, profitable companies only -3.5x 20.5x -2.7x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 4.3x 27.6x — ARRY
Faster revenue growthRevenue growth, trailing twelve months +1.2% +12.6% -15.7% RNW
More profitableNet margin, trailing twelve months -12.5% 8.1% -4.9% RNW
Better return on capitalReturn on invested capital -13.4% 2.3% -0.2% RNW
Less leveragedLower net debt / EBITDA -302.9x -0.2x — ARRY
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months -62.7% -8.7% -37.0% RNW
Better 5-year returnAnnualised price return, 5 years -29.1%/yr -7.0%/yr -25.1%/yr RNW
Less volatileAnnualised volatility, 1 year 79.0% 43.4% 92.4% RNW
Higher overall scoreMean of the five percentile scores vs peers 56/100 70/100 45/100 RNW

Percentile Scorecard

ARRYRNWCSIQ

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisARRYRNWCSIQ
Valuation 97 #3 of 61 91 #3 of 24 83 #11 of 61
Growth 28 #42 of 58 82 #5 of 23 12 #51 of 58
Profitability 67 #19 of 55 91 #3 of 23 63 #21 of 55
Financial Health 33 #48 of 71 44 #14 of 24 20 #57 of 71
Shareholder Returns – 42 #12 of 20 –
Overall 56 70 45
  • ARRY ranked among 71 companies in Clean Energy Equipment
  • RNW ranked among 24 companies in Power Generation
  • CSIQ ranked among 71 companies in Clean Energy Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodARRYRNWCSIQSPY
1 month -15.9%+0.7%-10.5% -0.2%
3 months -33.5%+13.1%-29.2% +3.9%
6 months -57.3%+37.0%-34.9% +8.2%
Year to date -63.2%+21.9%-59.3% +12.9%
1 year -62.7%-8.7%-37.0% +12.3%
3 years -80.1%+26.2%-49.7% +87.4%
3 years, per year -41.7%+8.1%-20.5% +23.3%
5 years -82.0%-30.4%-76.3% +67.9%
5 years, per year -29.1%-7.0%-25.1% +10.9%
10 years ——-35.5% +261.1%
10 years, per year ——-4.3% +13.7%

Risk

MeasureARRYRNWCSIQSPY
Volatility, 1Y 79.0%43.4%92.4% 12.7%
Downside volatility, 1Y 88.4%57.1%99.4% 12.7%
Beta vs S&P 500, 1Y 3.120.732.66 1.00
Return / volatility, 1Y -0.79-0.20-0.40 0.97
Max drawdown, 5Y -88.4%-58.7%-85.6% -25.4%
From 52-week high -71.7%-11.2%-71.2% -1.2%
52-week high $11.96$7.76$33.58 $779.14
52-week low $3.15$4.50$8.85 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleARRYRNWCSIQ
P/E now vs peer median -3.5xmedian 27.2x 20.5xmedian 25.0x -2.7xmedian 27.2x
P/S now vs peer median 0.4xmedian 2.4x 3.4xmedian 2.8x 0.1xmedian 2.4x
EV/EBITDA now vs peer median -754.1xmedian 18.4x 10.7xmedian 11.5x —median 18.4x
P/FCF now vs peer median 3.9xmedian 28.6x 5.0xmedian 13.6x 2.1xmedian 28.6x
P/B now vs peer median -2.6xmedian 1.7x 3.1xmedian 2.1x 0.2xmedian 1.7x
PEG now vs peer median 0.06median 0.79 0.04median 0.60 0.07median 0.79

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsARRYRNWCSIQ
Revenue $1.19B $1.50B $4.99B
Gross profit $287.61M – $820.00M
Operating income -$60.78M $158.00M -$27.67M
Net income -$85.90M $122.00M -$251.16M
Free cash flow $134.73M $1.01B $311.68M
R&D – – $83.20M
EPS (diluted) $-0.95 $11.29 $-3.60
Cash & equivalents $307.30M $233.00M $1.46B
Total debt $657.75M $9.27B $24.65B
Shares (diluted) 155.69M 10.81M 67.37M
Enterprise value -$451.82M $3.44B -$4.21B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricARRYRNWCSIQ
P/E -3.5x 20.5x -2.7x
P/FCF 3.9x 5.0x 2.1x
P/Operating cash flow 3.2x 5.0x -1.2x
P/S 0.4x 3.4x 0.1x
P/B -2.6x 3.1x 0.2x
P/Tangible book -1.3x 3.1x 0.2x
EV/EBITDA -754.1x 10.7x –
EV/EBIT -14.4x 31.3x -201.4x
EV/Revenue 0.7x 3.3x 1.1x
EV/FCF 6.5x 4.9x 17.9x
EV/Operating cash flow 5.4x 4.9x -9.8x
PEG (3Y EPS CAGR) 0.06 0.04 0.07

Growth

14 metrics
MetricARRYRNWCSIQ
Revenue growth (1Y) 1.2% 12.6% -15.7%
Revenue CAGR (3Y) -13.0% 16.7% -14.4%
Gross profit growth (1Y) -12.9% – -26.1%
Gross profit CAGR (3Y) -10.2% – -17.7%
Operating income growth (1Y) 69.8% -12.0% 48.9%
Operating income CAGR (3Y) -32.8% 31.4% -27.0%
Net income growth (1Y) 58.8% 9.9% -44.9%
Net income CAGR (3Y) -38.6% 85.2% -35.7%
EPS growth (1Y) 45.3% 9.9% -9.9%
EPS CAGR (3Y) -55.9% 512.3% -36.0%
Operating cash flow growth (1Y) 22.2% 20.9% -135.9%
Operating cash flow CAGR (3Y) -15.4% 6.1% -39.4%
Free cash flow growth (1Y) 22.2% 20.9% -51.2%
Free cash flow CAGR (3Y) -18.9% 6.1% -43.3%

Profitability

14 metrics
MetricARRYRNWCSIQ
Gross margin 24.3% – 16.4%
EBITDA margin -0.1% 30.9% –
Operating margin -5.1% 10.5% -0.6%
Pretax margin -6.2% 10.3% -3.7%
Net margin -12.5% 8.1% -4.9%
FCF margin 11.4% 67.6% 6.2%
Operating cash flow margin 13.7% 67.6% -11.4%
Return on equity – 7.7% -6.3%
Return on assets -5.7% 1.1% -1.6%
Return on invested capital -13.4% 2.3% -0.2%
Return on capital employed -5.5% 2.0% -0.3%
Asset turnover 0.8x 0.1x 0.3x
Cash conversion (OCF / net income) -1.9x 8.3x 2.3x
Stock comp / revenue 1.5% – –

Financial Health

11 metrics
MetricARRYRNWCSIQ
Debt / assets 42.9% 2.1% 39.6%
Debt / equity -3.3x 0.1x 1.6x
Net debt / EBITDA -302.9x -0.2x –
Debt / FCF 4.9x 0.2x 20.5x
Liabilities / assets 113.2% 85.8% 75.6%
Equity / assets -13.2% 14.2% 24.4%
Interest coverage -2.8x – -0.1x
Current ratio 2.2x 0.4x 1.0x
Quick ratio 1.8x 0.1x 0.4x
Cash ratio 0.8x 0.1x 0.2x
Altman Z-score 0.84 0.22 0.47

Shareholder Returns

7 metrics
MetricARRYRNWCSIQ
Dividend yield – – –
Net buyback yield – -3.2% –
Shareholder yield – -3.2% –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusARRYRNWCSIQ
Forward P/E 4.3xFY2026 27.6xFY2026 –
EPS, next fiscal year $0.79FY2026 $0.25FY2026 $-2.62FY2026
EPS growth, next FY +17.9%FY2026 -21.9%FY2026 –
EPS growth, the year after +7.6% +96.0% –
Revenue, next fiscal year $1.41BFY2026 $1.80BFY2026 $5.88BFY2026
Revenue growth, next FY +9.8%FY2026 +11.8%FY2026 +5.0%FY2026
Revenue growth, the year after +18.4% -2.4% +21.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersARRYRNWCSIQ
Held by institutions 100.0% 40.7% 60.5%
Institutions holding 259 144 156
Change in shares held, QoQ +7.3% +0.9% +23.0%
Institutions buying 134 104 98
Institutions selling 80 28 32
Buyers to sellers 1.68 3.71 3.06

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ARRYRNWCSIQ
ARRY 1.00 0.13 0.43
RNW 0.13 1.00 0.11
CSIQ 0.43 0.11 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARRY, RNW and CSIQ?

ReNew Energy Global (RNW) is the largest by market capitalisation: Array Technologies (ARRY) $522.09M, ReNew Energy Global (RNW) $5.02B, Canadian Solar (CSIQ) $655.72M.

Which company is growing faster?

ReNew Energy Global (RNW) grew revenue fastest over the trailing twelve months: Array Technologies (ARRY) +1.2%, ReNew Energy Global (RNW) +12.6%, Canadian Solar (CSIQ) -15.7%.

Which company is more profitable?

ReNew Energy Global (RNW) has the highest net margin (Array Technologies (ARRY) -12.5%, ReNew Energy Global (RNW) 8.1%, Canadian Solar (CSIQ) -4.9%). On return on invested capital, ReNew Energy Global (RNW) leads (Array Technologies (ARRY) -13.4%, ReNew Energy Global (RNW) 2.3%, Canadian Solar (CSIQ) -0.2%).

Which stock has performed better?

Over the past year ReNew Energy Global (RNW) returned the most: Array Technologies (ARRY) -62.7%, ReNew Energy Global (RNW) -8.7%, Canadian Solar (CSIQ) -37.0%. Over five years, ReNew Energy Global (RNW) compounded fastest (Array Technologies (ARRY) -29.1%/yr, ReNew Energy Global (RNW) -7.0%/yr, Canadian Solar (CSIQ) -25.1%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, ReNew Energy Global (RNW) has been the steadiest (Array Technologies (ARRY) 79.0%, ReNew Energy Global (RNW) 43.4%, Canadian Solar (CSIQ) 92.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ARRY, RNW and CSIQ?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, ReNew Energy Global (RNW) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.