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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.43
TSL's Cash to Debt is ranked lower than
76% of the 835 Companies
in the Global Solar industry.

( Industry Median: 1.85 vs. TSL: 0.43 )
Ranked among companies with meaningful Cash to Debt only.
TSL' s 10-Year Cash to Debt Range
Min: 0.11  Med: 0.68 Max: N/A
Current: 0.43
Equity to Asset 0.30
TSL's Equity to Asset is ranked lower than
90% of the 811 Companies
in the Global Solar industry.

( Industry Median: 0.63 vs. TSL: 0.30 )
Ranked among companies with meaningful Equity to Asset only.
TSL' s 10-Year Equity to Asset Range
Min: 0.18  Med: 0.44 Max: 0.7
Current: 0.3
0.18
0.7
Interest Coverage 3.44
TSL's Interest Coverage is ranked lower than
89% of the 501 Companies
in the Global Solar industry.

( Industry Median: 2007.22 vs. TSL: 3.44 )
Ranked among companies with meaningful Interest Coverage only.
TSL' s 10-Year Interest Coverage Range
Min: 0.88  Med: 5.00 Max: 85.29
Current: 3.44
0.88
85.29
F-Score: 6
Z-Score: 1.19
M-Score: -1.86
WACC vs ROIC
7.75%
5.63%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 4.63
TSL's Operating margin (%) is ranked lower than
51% of the 826 Companies
in the Global Solar industry.

( Industry Median: 4.72 vs. TSL: 4.63 )
Ranked among companies with meaningful Operating margin (%) only.
TSL' s 10-Year Operating margin (%) Range
Min: -79.23  Med: 11.97 Max: 22.47
Current: 4.63
-79.23
22.47
Net-margin (%) 1.95
TSL's Net-margin (%) is ranked lower than
58% of the 826 Companies
in the Global Solar industry.

( Industry Median: 4.00 vs. TSL: 1.95 )
Ranked among companies with meaningful Net-margin (%) only.
TSL' s 10-Year Net-margin (%) Range
Min: -20.56  Med: 6.05 Max: 16.77
Current: 1.95
-20.56
16.77
ROE (%) 5.02
TSL's ROE (%) is ranked higher than
50% of the 817 Companies
in the Global Solar industry.

( Industry Median: 5.15 vs. TSL: 5.02 )
Ranked among companies with meaningful ROE (%) only.
TSL' s 10-Year ROE (%) Range
Min: -26.3  Med: 13.62 Max: 34.2
Current: 5.02
-26.3
34.2
ROA (%) 1.56
TSL's ROA (%) is ranked lower than
59% of the 838 Companies
in the Global Solar industry.

( Industry Median: 2.94 vs. TSL: 1.56 )
Ranked among companies with meaningful ROA (%) only.
TSL' s 10-Year ROA (%) Range
Min: -9.28  Med: 7.73 Max: 16.92
Current: 1.56
-9.28
16.92
ROC (Joel Greenblatt) (%) 6.46
TSL's ROC (Joel Greenblatt) (%) is ranked lower than
56% of the 834 Companies
in the Global Solar industry.

( Industry Median: 9.21 vs. TSL: 6.46 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
TSL' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -18.57  Med: 14.66 Max: 46.99
Current: 6.46
-18.57
46.99
Revenue Growth (3Y)(%) -2.80
TSL's Revenue Growth (3Y)(%) is ranked lower than
53% of the 516 Companies
in the Global Solar industry.

( Industry Median: -1.80 vs. TSL: -2.80 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
TSL' s 10-Year Revenue Growth (3Y)(%) Range
Min: 0  Med: 10.80 Max: 1056.3
Current: -2.8
0
1056.3
EBITDA Growth (3Y)(%) 34.30
TSL's EBITDA Growth (3Y)(%) is ranked higher than
88% of the 390 Companies
in the Global Solar industry.

( Industry Median: -1.40 vs. TSL: 34.30 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
TSL' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0  Med: -30.85 Max: 88.3
Current: 34.3
0
88.3
» TSL's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2014

TSL Guru Trades in Q2 2014

Louis Moore Bacon 567,620 sh (New)
Howard Marks 2,538,124 sh (+41.23%)
Steven Cohen 400,000 sh (unchged)
» More
Q3 2014

TSL Guru Trades in Q3 2014

Chase Coleman 2,550,000 sh (New)
Steven Cohen 701,500 sh (+75.38%)
Louis Moore Bacon 968,353 sh (+70.60%)
Howard Marks 3,145,624 sh (+23.94%)
» More
Q4 2014

TSL Guru Trades in Q4 2014

Howard Marks 282,801,100 sh (+7437.90%)
Howard Marks 3,751,724 sh (+19.27%)
Chase Coleman 2,550,000 sh (unchged)
Steven Cohen Sold Out
Louis Moore Bacon Sold Out
» More
Q1 2015

TSL Guru Trades in Q1 2015

Steven Cohen 457,300 sh (New)
Louis Moore Bacon 300,000 sh (New)
RS Investment Management 181,620 sh (New)
Jim Simons 30,900 sh (New)
Howard Marks 3,906,963 sh (+4.14%)
Chase Coleman Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with TSL

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 20.28
TSL's P/E(ttm) is ranked lower than
52% of the 556 Companies
in the Global Solar industry.

( Industry Median: 20.60 vs. TSL: 20.28 )
Ranked among companies with meaningful P/E(ttm) only.
TSL' s 10-Year P/E(ttm) Range
Min: 2.11  Med: 15.31 Max: 70.54
Current: 20.28
2.11
70.54
Forward P/E 8.69
TSL's Forward P/E is ranked higher than
90% of the 291 Companies
in the Global Solar industry.

( Industry Median: 17.21 vs. TSL: 8.69 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 22.10
TSL's PE(NRI) is ranked lower than
54% of the 550 Companies
in the Global Solar industry.

( Industry Median: 20.50 vs. TSL: 22.10 )
Ranked among companies with meaningful PE(NRI) only.
TSL' s 10-Year PE(NRI) Range
Min: 2.09  Med: 15.77 Max: 73.36
Current: 22.1
2.09
73.36
P/B 1.13
TSL's P/B is ranked higher than
70% of the 823 Companies
in the Global Solar industry.

( Industry Median: 1.74 vs. TSL: 1.13 )
Ranked among companies with meaningful P/B only.
TSL' s 10-Year P/B Range
Min: 0.19  Med: 1.22 Max: 7.42
Current: 1.13
0.19
7.42
P/S 0.44
TSL's P/S is ranked higher than
88% of the 853 Companies
in the Global Solar industry.

( Industry Median: 1.60 vs. TSL: 0.44 )
Ranked among companies with meaningful P/S only.
TSL' s 10-Year P/S Range
Min: 0.11  Med: 0.65 Max: 4.5
Current: 0.44
0.11
4.5
PFCF 230.60
TSL's PFCF is ranked lower than
98% of the 438 Companies
in the Global Solar industry.

( Industry Median: 19.40 vs. TSL: 230.60 )
Ranked among companies with meaningful PFCF only.
TSL' s 10-Year PFCF Range
Min: 162.4  Med: 238.10 Max: 258.8
Current: 230.6
162.4
258.8
POCF 6.03
TSL's POCF is ranked higher than
80% of the 569 Companies
in the Global Solar industry.

( Industry Median: 14.17 vs. TSL: 6.03 )
Ranked among companies with meaningful POCF only.
TSL' s 10-Year POCF Range
Min: 3.83  Med: 5.09 Max: 6.81
Current: 6.03
3.83
6.81
EV-to-EBIT 18.46
TSL's EV-to-EBIT is ranked lower than
58% of the 559 Companies
in the Global Solar industry.

( Industry Median: 15.54 vs. TSL: 18.46 )
Ranked among companies with meaningful EV-to-EBIT only.
TSL' s 10-Year EV-to-EBIT Range
Min: -45.4  Med: 9.70 Max: 88.4
Current: 18.46
-45.4
88.4
Current Ratio 1.00
TSL's Current Ratio is ranked lower than
86% of the 826 Companies
in the Global Solar industry.

( Industry Median: 2.45 vs. TSL: 1.00 )
Ranked among companies with meaningful Current Ratio only.
TSL' s 10-Year Current Ratio Range
Min: 0.99  Med: 1.37 Max: 2.83
Current: 1
0.99
2.83
Quick Ratio 0.81
TSL's Quick Ratio is ranked lower than
83% of the 826 Companies
in the Global Solar industry.

( Industry Median: 1.86 vs. TSL: 0.81 )
Ranked among companies with meaningful Quick Ratio only.
TSL' s 10-Year Quick Ratio Range
Min: 0.74  Med: 1.06 Max: 2.61
Current: 0.81
0.74
2.61
Days Inventory 73.65
TSL's Days Inventory is ranked higher than
55% of the 802 Companies
in the Global Solar industry.

( Industry Median: 78.55 vs. TSL: 73.65 )
Ranked among companies with meaningful Days Inventory only.
TSL' s 10-Year Days Inventory Range
Min: 22.97  Med: 66.00 Max: 759.36
Current: 73.65
22.97
759.36
Days Sales Outstanding 86.46
TSL's Days Sales Outstanding is ranked lower than
73% of the 763 Companies
in the Global Solar industry.

( Industry Median: 59.98 vs. TSL: 86.46 )
Ranked among companies with meaningful Days Sales Outstanding only.
TSL' s 10-Year Days Sales Outstanding Range
Min: 46.15  Med: 91.52 Max: 1758
Current: 86.46
46.15
1758

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.20
TSL's Price/Tangible Book is ranked higher than
69% of the 789 Companies
in the Global Solar industry.

( Industry Median: 1.88 vs. TSL: 1.20 )
Ranked among companies with meaningful Price/Tangible Book only.
TSL' s 10-Year Price/Tangible Book Range
Min: 0.37  Med: 1.36 Max: 5.55
Current: 1.2
0.37
5.55
Price/Projected FCF 1.90
TSL's Price/Projected FCF is ranked lower than
298% of the 306 Companies
in the Global Solar industry.

( Industry Median: 1.58 vs. TSL: 1.90 )
Ranked among companies with meaningful Price/Projected FCF only.
TSL' s 10-Year Price/Projected FCF Range
Min: 0.74  Med: 8.39 Max: 47.71
Current: 1.9
0.74
47.71
Price/Median PS Value 0.63
TSL's Price/Median PS Value is ranked higher than
89% of the 786 Companies
in the Global Solar industry.

( Industry Median: 1.10 vs. TSL: 0.63 )
Ranked among companies with meaningful Price/Median PS Value only.
TSL' s 10-Year Price/Median PS Value Range
Min: 0.32  Med: 1.19 Max: 6.51
Current: 0.63
0.32
6.51
Price/Peter Lynch Fair Value 1.85
TSL's Price/Peter Lynch Fair Value is ranked lower than
1341% of the 68 Companies
in the Global Solar industry.

( Industry Median: 1.29 vs. TSL: 1.85 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
TSL' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.49  Med: 0.74 Max: 0.98
Current: 1.85
0.49
0.98
Price/Graham Number 1.09
TSL's Price/Graham Number is ranked higher than
58% of the 535 Companies
in the Global Solar industry.

( Industry Median: 1.38 vs. TSL: 1.09 )
Ranked among companies with meaningful Price/Graham Number only.
TSL' s 10-Year Price/Graham Number Range
Min: 0.36  Med: 1.14 Max: 3.81
Current: 1.09
0.36
3.81
Earnings Yield (Greenblatt) (%) 5.58
TSL's Earnings Yield (Greenblatt) (%) is ranked higher than
61% of the 824 Companies
in the Global Solar industry.

( Industry Median: 3.20 vs. TSL: 5.58 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
TSL' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 1.1  Med: 7.00 Max: 23.4
Current: 5.58
1.1
23.4
Forward Rate of Return (Yacktman) (%) 19.47
TSL's Forward Rate of Return (Yacktman) (%) is ranked higher than
78% of the 234 Companies
in the Global Solar industry.

( Industry Median: 3.71 vs. TSL: 19.47 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
TSL' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -102.8  Med: -16.00 Max: 30.4
Current: 19.47
-102.8
30.4

Business Description

Industry: Semiconductors » Solar
Compare:FSLR, SPWR, SOL, CSSXF, LDK » details
Traded in other countries:TR3.Germany, TSLN.Mexico, TSL.Switzerland, K3KD.Singapore,
Trina Solar Ltd was incorporated on March 14, 2006 in Cayman Islands. It is integrated solar-power products manufacturer and solar system developer based in China. The Company operates in a single business segment which is comprised of the production of mono- and multi-crystalline silicon ingots, wafers, cells and related products and the subsequent assembly and marketing of solar modules, which are panels packed with interconnected solar cells that convert sunlight into electricity. It also develops, design, construct and sell solar power projects that use the solar modules it manufacture. It designs, develop, manufacture and sell efficiency PV modules. PV modules are arrays of interconnected solar cells encased in a weatherproof frame. It produces standard solar monocrystalline modules ranging from between 205 W and 215 W to between 260 W and 270 W in power output and multicrystalline modules ranging from 240 W to 310 W in power output, built to general specifications used in residential, commercial, industrial and other solar power generation systems. The Company's sales and distribution channels include solar power markets in United Kingdom, India, Australia and Japan, as well as other markets in Asia, Africa, the Middle East, Latin America, and the Caribbean Islands. The Company competes with other PV module manufacturing companies, including dedicated PV manufacturers such as Yingli Green Energy Holding Co., Ltd., First Solar, Inc., GCL Solar Energy Technology Holdings Inc., JinkoSolar Holding Co., Ltd., and Canadian Solar Inc. as well as multinational conglomerates such as Sharp Electronic Corporation and Mitsubishi Electric Corporation. The Company's operations are subject to regulation and periodic monitoring by local environmental protection authorities.
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