The solar panel manufacturing business has gone through ups and downs over the last decade, but it appears to be in a more stable position than ever before, and Canadian Solar is one of the leaders. Shares trade for just over 11 times 2022 earnings, and the company is steadily generating better margins.
Canadian Solar (NASDAQ: CSIQ) has been a key player in the solar panel space for a long time, while On Holding (NYSE: ONON) is a relatively new company in the athletic footwear business. The solar company reported fourth-quarter financial results that showed huge demand for its products. Canadian Solar's sales for the fourth quarter jumped 29% year over year to $1.97 billion.
Here is how Canadian Solar (CSIQ) and Valero Energy (VLO) have performed compared to their sector so far this year.