ELVA vs ATVK vs CSIQ Stock Comparison

Electrovaya, Globaltek Ventures and Canadian Solar Prices as of Oct 29, 2026 Peers: Industry group
ELVA Electrovaya Inc.
$5.63 -11.3% 1M -13.3% 1Y
Market cap
$237.07M
P/E
49.9x
Revenue (TTM)
$71.82M
Div. yield
–
Energy Storage Industrials
6 wins
CSIQ Canadian Solar Inc.
$9.35 -19.0% 1M -46.8% 1Y
Market cap
$634.02M
P/E
–
Revenue (TTM)
$4.99B
Div. yield
–
Solar Equipment Industrials
1 win

Head to Head

10 decided of 12

Electrovaya leads on 6 of the 12 questions below (Electrovaya 6, Globaltek Ventures 3, Canadian Solar 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionELVAATVKCSIQLeader
Larger companyMarket capitalisation $237.07M $1.82B $634.02M ATVK
Cheaper on earningsLower P/E, profitable companies only 49.9x 352.1x -2.6x ELVA
Cheaper on forward earningsLower price / next fiscal year consensus EPS 62.6x — — –
Faster revenue growthRevenue growth, trailing twelve months +30.9% -95.1% -15.7% ELVA
More profitableNet margin, trailing twelve months 6.1% 13,318.1% -4.9% ATVK
Better return on capitalReturn on invested capital 3.4% — -0.2% ELVA
Less leveragedLower net debt / EBITDA 4.9x -2.2x — ATVK
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months -13.3% -53.5% -46.8% ELVA
Better 5-year returnAnnualised price return, 5 years +2.8%/yr +0.5%/yr -25.8%/yr ELVA
Less volatileAnnualised volatility, 1 year 94.7% 307.1% 91.2% CSIQ
Higher overall scoreMean of the five percentile scores vs peers 77/100 31/100 46/100 ELVA

Percentile Scorecard

ELVAATVKCSIQ

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

AxisELVAATVKCSIQ
Valuation 72 #18 of 62 57 #27 of 62 87 #9 of 62
Growth 97 #3 of 59 14 #51 of 59 10 #53 of 59
Profitability 76 #14 of 55 39 #34 of 55 63 #21 of 55
Financial Health 56 #32 of 72 16 #61 of 72 23 #56 of 72
Shareholder Returns 86 #5 of 29 – –
Overall 77 31 46
  • ELVA ranked among 72 companies in Clean Energy Equipment
  • ATVK ranked among 72 companies in Clean Energy Equipment
  • CSIQ ranked among 72 companies in Clean Energy Equipment

Price Performance

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

Returns

PeriodELVAATVKCSIQSPY
1 month -11.3%-62.9%-19.0% +0.7%
3 months -34.2%-11.4%-36.7% +3.7%
6 months -39.2%-61.8%-38.8% +7.1%
Year to date -28.7%-82.2%-60.7% +12.8%
1 year -13.3%-53.5%-46.8% +11.9%
3 years +101.9%+189.4%-51.9% +85.2%
3 years, per year +26.4%+42.5%-21.7% +22.8%
5 years +14.8%+2.7%-77.5% +67.6%
5 years, per year +2.8%+0.5%-25.8% +10.9%
10 years -50.6%-97.9%-36.7% +262.0%
10 years, per year -6.8%-32.0%-4.5% +13.7%

Risk

MeasureELVAATVKCSIQSPY
Volatility, 1Y 94.7%307.1%91.2% 12.7%
Downside volatility, 1Y 90.9%444.1%99.0% 12.6%
Beta vs S&P 500, 1Y 3.47-0.192.67 1.00
Return / volatility, 1Y -0.14-0.17-0.51 0.94
Max drawdown, 5Y -64.2%-96.5%-85.6% -25.4%
From 52-week high -54.1%-84.8%-72.2% -1.2%
52-week high $12.26$25.20$33.58 $779.14
52-week low $4.23$3.82$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.

MultipleELVAATVKCSIQ
P/E now vs peer median 49.9xmedian 26.6x 352.1xmedian 26.6x -2.6xmedian 26.6x
P/S now vs peer median 3.3xmedian 2.6x 53,339xmedian 2.6x 0.1xmedian 2.6x
EV/EBITDA now vs peer median 51.1xmedian 18.9x -2,607xmedian 18.9x —median 18.9x
P/FCF now vs peer median 62.7xmedian 30.1x 4,416xmedian 30.1x 2.0xmedian 30.1x
P/B now vs peer median 3.5xmedian 1.9x -1,576xmedian 1.9x 0.2xmedian 1.9x
PEG now vs peer median —median 0.97 1.45median 0.97 0.07median 0.97

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 monthsELVAATVKCSIQ
Revenue $71.82M $34.20K $4.99B
Gross profit $23.70M – $820.00M
Operating income $6.72M -$728.67K -$27.67M
Net income $4.41M -$775.27K -$251.16M
Free cash flow $3.78M $413.05K $311.68M
R&D $4.26M – $83.20M
EPS (diluted) – $0.01 $-3.60
Cash & equivalents $13.08M $29.33K $1.46B
Total debt $38.27M $1.60M $6.38B
Shares (diluted) – 419.75M 67.37M
Enterprise value $174.58M $1.82B -$4.23B

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
MetricELVAATVKCSIQ
P/E 49.9x 352.1x -2.6x
P/FCF 62.7x 4,416x 2.0x
P/Operating cash flow -28.4x 4,416x -1.1x
P/S 3.3x 53,339x 0.1x
P/B 3.5x -1,576x 0.2x
P/Tangible book 3.5x -1,481x 0.2x
EV/EBITDA 51.1x -2,607x –
EV/EBIT 39.1x -2,505x -200.7x
EV/Revenue 3.7x 53,385x 1.1x
EV/FCF 69.3x 4,420x 17.8x
EV/Operating cash flow -31.5x 4,420x -9.8x
PEG (3Y EPS CAGR) – 1.45 0.07

Growth

14 metrics
MetricELVAATVKCSIQ
Revenue growth (1Y) 30.9% -95.1% -15.7%
Revenue CAGR (3Y) 31.3% -70.7% -14.4%
Gross profit growth (1Y) 45.1% – -26.1%
Gross profit CAGR (3Y) 43.3% – -17.7%
Operating income growth (1Y) 159.9% -238.8% 48.9%
Operating income CAGR (3Y) 52.9% -162.8% -27.0%
Net income growth (1Y) 267.2% -105.7% -44.9%
Net income CAGR (3Y) 38.9% -178.6% -35.7%
EPS growth (1Y) – -23.7% -9.9%
EPS CAGR (3Y) – 242.2% -36.0%
Operating cash flow growth (1Y) -26.6% – -135.9%
Operating cash flow CAGR (3Y) – 12.1% -39.4%
Free cash flow growth (1Y) 145.4% – -51.2%
Free cash flow CAGR (3Y) – 12.1% -43.3%

Profitability

14 metrics
MetricELVAATVKCSIQ
Gross margin 33.0% – 16.4%
EBITDA margin 7.1% -2,048% –
Operating margin 9.3% -2,131% -0.6%
Pretax margin 9.3% -2,267% -3.7%
Net margin 6.1% 13,318% -4.9%
FCF margin 5.3% 1,208% 6.2%
Operating cash flow margin -11.6% 1,208% -11.4%
Return on equity 9.8% – -6.3%
Return on assets 5.7% -152.5% -1.6%
Return on invested capital 3.4% – -0.2%
Return on capital employed 6.6% -29.2% -0.3%
Asset turnover 0.6x 0.0x 0.3x
Cash conversion (OCF / net income) -1.9x -0.5x 2.3x
Stock comp / revenue 4.6% 3,211% –

Financial Health

11 metrics
MetricELVAATVKCSIQ
Debt / assets 32.3% 150.7% 39.6%
Debt / equity 0.6x -1.4x 1.6x
Net debt / EBITDA 4.9x -2.2x –
Debt / FCF 10.1x 3.9x 20.5x
Liabilities / assets 43.3% 209.0% 75.6%
Equity / assets 56.7% -109.0% 24.4%
Interest coverage 18.8x -15.6x -0.1x
Current ratio 7.5x 0.0x 1.0x
Quick ratio 4.3x 0.0x 0.4x
Cash ratio 1.3x 0.0x 0.2x
Altman Z-score 2.77 482.96 0.47

Shareholder Returns

7 metrics
MetricELVAATVKCSIQ
Dividend yield – – –
Net buyback yield 1.7% – –
Shareholder yield 1.7% – –
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.

ConsensusELVAATVKCSIQ
Forward P/E 62.6xFY2026 – –
EPS, next fiscal year $0.09FY2026 – $-2.62FY2026
EPS growth, next FY 0.0%FY2026 – –
EPS growth, the year after +133.3% – –
Revenue, next fiscal year $74.36MFY2026 – $5.88BFY2026
Revenue growth, next FY +16.5%FY2026 – +5.0%FY2026
Revenue growth, the year after +44.3% – +21.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersELVAATVKCSIQ
Held by institutions 37.1% – 60.5%
Institutions holding 95 – 156
Change in shares held, QoQ +4.8% – +23.0%
Institutions buying 52 – 98
Institutions selling 26 – 32
Buyers to sellers 2.00 – 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.

ELVAATVKCSIQ
ELVA 1.00 -0.01 0.25
ATVK -0.01 1.00 0.07
CSIQ 0.25 0.07 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ELVA, ATVK and CSIQ?

Globaltek Ventures (ATVK) is the largest by market capitalisation: Electrovaya (ELVA) $237.07M, Globaltek Ventures (ATVK) $1.82B, Canadian Solar (CSIQ) $634.02M.

Which stock is cheaper, ELVA, ATVK and CSIQ?

Electrovaya (ELVA) trades on the lowest price-to-earnings ratio (Electrovaya (ELVA) 49.9x, Globaltek Ventures (ATVK) 352.1x, Canadian Solar (CSIQ) -2.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Electrovaya (ELVA) grew revenue fastest over the trailing twelve months: Electrovaya (ELVA) +30.9%, Globaltek Ventures (ATVK) -95.1%, Canadian Solar (CSIQ) -15.7%.

Which company is more profitable?

Globaltek Ventures (ATVK) has the highest net margin (Electrovaya (ELVA) 6.1%, Globaltek Ventures (ATVK) 13,318.1%, Canadian Solar (CSIQ) -4.9%). On return on invested capital, Electrovaya (ELVA) leads (Electrovaya (ELVA) 3.4%, Canadian Solar (CSIQ) -0.2%).

Which stock has performed better?

Over the past year Electrovaya (ELVA) returned the most: Electrovaya (ELVA) -13.3%, Globaltek Ventures (ATVK) -53.5%, Canadian Solar (CSIQ) -46.8%. Over five years, Electrovaya (ELVA) compounded fastest (Electrovaya (ELVA) +2.8%/yr, Globaltek Ventures (ATVK) +0.5%/yr, Canadian Solar (CSIQ) -25.8%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Canadian Solar (CSIQ) has been the steadiest (Electrovaya (ELVA) 94.7%, Globaltek Ventures (ATVK) 307.1%, Canadian Solar (CSIQ) 91.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ELVA, ATVK 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, Electrovaya (ELVA) leads on 6. 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.