Canadian Solar Inc.(CSIQ)Earnings, Financials & Key Ratios
CSIQ•NASDAQ
$16.88
$1.13B mkt cap·Price updated May 6, 2026
AboutCanadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc. (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories; and engineering, procurement, and construction (EPC) services. The Global Energy segment engages in the development, construction, maintenance, and sale of solar and battery storage projects; operation of solar power plants; and sale of electricity. This segment also provides operation and maintenance (O&M) services, including monitoring, inspections, repair, and replacement of plant equipment; and site management and administrative support services for solar projects, as well as asset management services. As of January 31, 2021, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 445 MWp. The company serves distributors, system integrators, project developers, and installers/EPC companies. It sells its products primarily under its Canadian Solar brand name; and on an OEM basis. The company was incorporated in 2001 and is headquartered in Guelph, Canada.Show more
- Revenue$5.6B-6.6%
- EBITDA-$29M-106.1%
- Net Income-$104M-388.8%
- EPS (Diluted)-1.55-387.0%
- Gross Margin18.34%+10.0%
- EBITDA Margin-0.52%-106.6%
- Operating Margin-0.52%-2.8%
- Net Margin-1.86%-409.4%
- ROE-2.47%-369.5%
- ROIC-0.24%+24.4%
- Debt/Equity1.80+26.3%
- Interest Coverage-0.16+26.0%
CSIQ Key Insights
Canadian Solar Inc. (CSIQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 0.3x book value
✗Weaknesses
- ✗Weak 3Y average ROE of 2.5%
- ✗Weak Piotroski F-Score: 1/9
- ✗Negative free cash flow
- ✗Thin 5Y average net margin of 1.5%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CSIQ Price & Volume
Canadian Solar Inc. (CSIQ) stock price & volume — 10-year historical chart
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CSIQ Growth Metrics
Canadian Solar Inc. (CSIQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.9%
5 Years9.98%
3 Years-9.18%
TTM-6.65%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-388.83%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-434.56%
Return on Capital
10 Years8.53%
5 Years4.9%
3 Years2.82%
Last Year-0.34%
CSIQ Recent Earnings
Canadian Solar Inc. (CSIQ) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Mar 19, 2026EPS
$1.66
Est $1.10
-50.9%
Revenue
$1.2B
Est $1.4B
-10.2%
Q4 2025
Nov 13, 2025EPS
$0.58
Est $1.08
+46.3%
Revenue
$1.5B
Est $1.4B
+8.8%
Q3 2025
Aug 21, 2025EPS
$0.53
Est $0.76
-169.7%
Revenue
$1.7B
Est $1.6B
+9.0%
Q2 2025
May 15, 2025EPS
$1.07
Est $1.50
+28.7%
Revenue
$1.2B
Est $1.9B
-38.6%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 19, 2026 | $1.66vs $1.10-50.9% | $1.2Bvs $1.4B-10.2% |
| Q4 2025 | Nov 13, 2025 | $0.58vs $1.08+46.3% | $1.5Bvs $1.4B+8.8% |
| Q3 2025 | Aug 21, 2025 | $0.53vs $0.76-169.7% | $1.7Bvs $1.6B+9.0% |
| Q2 2025 | May 15, 2025 | $1.07vs $1.50+28.7% | $1.2Bvs $1.9B-38.6% |
Based on last 12 quarters of dataView full earnings history →
CSIQ Peer Comparison
Canadian Solar Inc. (CSIQ) competitors in Solar modules and inverters — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FSLR | 23.42B | 218.00 | 15.34 | 24.09% | 30.73% | 18.01% | 0.05 | |
 SPWR | 874.51M | 1.03 | -15.40 | 2.92% | -13.21% | |||
 JKS | 310.29M | 23.70 | -0.49 | -30.94% | -3.36% | -7.71% | 1.93 | |
 DQ | 1.31B | 19.35 | -7.59 | -35.34% | -32.94% | -3.19% | ||
 ARRY | 1.24B | 8.12 | -11.13 | 40.22% | -5.56% | -20.64% | 2.94 | |
 MAXN | 9.31M | 0.55 | -0.01 | -54.68% | -320.48% | |||
 ENPH | 4.72B | 35.80 | 27.75 | 10.72% | 9.64% | 13.28% | 1.14 | |
 SEDG | 2.47B | 40.61 | -5.89 | 31.39% | -28.56% | -79.58% | 0.99 |
Compare CSIQ vs Peers
Canadian Solar Inc. (CSIQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CSIQ Income Statement
Canadian Solar Inc. (CSIQ) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 3.39B | 3.74B | 3.2B | 3.48B | 5.28B | 7.47B | 7.61B | 5.99B | 5.6B |
| Revenue Growth % | 18.83% | 10.44% | -14.53% | 8.62% | 51.8% | 41.53% | 1.94% | -21.28% | -6.65% |
| Cost of Goods Sold | 2.75B | 2.97B | 2.48B | 2.79B | 4.37B | 6.21B | 6.33B | 4.99B | 4.57B |
| COGS % of Revenue | 81.19% | 79.3% | 77.55% | 80.15% | 82.77% | 83.09% | 83.19% | 83.33% | 81.66% |
| Gross Profit | 637.6M▲ 0% | 775.08M▲ 21.6% | 718.5M▼ 7.3% | 689.91M▼ 4.0% | 909.31M▲ 31.8% | 1.26B▲ 38.9% | 1.28B▲ 1.3% | 999.32M▼ 21.9% | 1.03B▲ 2.7% |
| Gross Margin % | 18.81% | 20.7% | 22.45% | 19.85% | 17.23% | 16.91% | 16.81% | 16.67% | 18.34% |
| Gross Profit Growth % | 52.83% | 21.56% | -7.3% | -3.98% | 31.8% | 38.91% | 1.33% | -21.93% | 2.69% |
| Operating Expenses | 368.25M | 410.43M | 459.62M | 469.48M | 718.93M | 907.08M | 826.66M | 1.03B | 1.06B |
| OpEx % of Revenue | 10.86% | 10.96% | 14.36% | 13.5% | 13.62% | 12.15% | 10.86% | 17.18% | 18.86% |
| Selling, General & Admin | 387.03M | 410.78M | 423.11M | 449.84M | 707.59M | 901.05M | 810.16M | 1B | 964.4M |
| SG&A % of Revenue | 11.42% | 10.97% | 13.22% | 12.94% | 13.41% | 12.06% | 10.64% | 16.74% | 17.24% |
| Research & Development | 28.78M | 44.19M | 47.05M | 45.17M | 58.41M | 69.82M | 100.84M | 120.79M | 90.69M |
| R&D % of Revenue | 0.85% | 1.18% | 1.47% | 1.3% | 1.11% | 0.93% | 1.32% | 2.02% | 1.62% |
| Other Operating Expenses | -6.47M | -11.01M | -10.54M | -25.52M | -47.07M | -63.8M | -84.34M | -94.54M | 0 |
| Operating Income | 269.35M▲ 0% | 364.66M▲ 35.4% | 258.88M▼ 29.0% | 220.43M▼ 14.9% | 190.38M▼ 13.6% | 356.06M▲ 87.0% | 453.32M▲ 27.3% | -30.08M▼ 106.6% | -28.86M▲ 4.1% |
| Operating Margin % | 7.94% | 9.74% | 8.09% | 6.34% | 3.61% | 4.77% | 5.95% | -0.5% | -0.52% |
| Operating Income Growth % | 189.11% | 35.39% | -29.01% | -14.85% | -13.63% | 87.03% | 27.32% | -106.64% | 4.07% |
| EBITDA | 368.62M | 493.91M | 437.5M | 437.58M | 473.15M | 600.48M | 760.36M | 471.36M | -28.86M |
| EBITDA Margin % | 10.87% | 13.19% | 13.67% | 12.59% | 8.97% | 8.04% | 9.99% | 7.86% | -0.52% |
| EBITDA Growth % | 95.02% | 33.99% | -11.42% | 0.02% | 8.13% | 26.91% | 26.63% | -38.01% | -106.12% |
| D&A (Non-Cash Add-back) | 99.27M | 129.26M | 178.62M | 217.15M | 282.77M | 244.42M | 307.04M | 501.44M | 0 |
| EBIT | 252.49M | 404.52M | 261M | 206.36M | 196.62M | 430.73M | 522.62M | 55.17M | -28.86M |
| Net Interest Income | -107.49M | -94.83M | -69.29M | -62.57M | -47.1M | -33.65M | -62.48M | -49M | -124.72M |
| Interest Income | 10.48M | 11.21M | 12.04M | 9.31M | 11.05M | 40.62M | 51.62M | 88.47M | 53.44M |
| Interest Expense | 117.97M | 106.03M | 81.33M | 71.87M | 58.15M | 74.27M | 114.1M | 137.47M | 178.17M |
| Other Income/Expense | -105.37M | -63.6M | -79.21M | -85.95M | -44.66M | 15.85M | -30.18M | -64.36M | -140.76M |
| Pretax Income | 134.52M▲ 0% | 298.49M▲ 121.9% | 179.67M▼ 39.8% | 134.48M▼ 25.2% | 145.72M▲ 8.4% | 371.91M▲ 155.2% | 423.13M▲ 13.8% | -94.44M▼ 122.3% | -169.61M▼ 79.6% |
| Pretax Margin % | 3.97% | 7.97% | 5.61% | 3.87% | 2.76% | 4.98% | 5.56% | -1.58% | -3.03% |
| Income Tax | 40.95M | 61.97M | 13.12M | -1.98M | 35.84M | 73.35M | 59.5M | -16.58M | 14.15M |
| Effective Tax Rate % | 30.44% | 20.76% | 7.3% | -1.47% | 24.6% | 19.72% | 14.06% | 17.55% | -8.34% |
| Net Income | 99.57M▲ 0% | 237.07M▲ 138.1% | 171.59M▼ 27.6% | 146.7M▼ 14.5% | 95.25M▼ 35.1% | 239.97M▲ 151.9% | 274.19M▲ 14.3% | 36.05M▼ 86.9% | -104.13M▼ 388.8% |
| Net Margin % | 2.94% | 6.33% | 5.36% | 4.22% | 1.8% | 3.21% | 3.6% | 0.6% | -1.86% |
| Net Income Growth % | 52.6% | 138.09% | -27.62% | -14.5% | -35.07% | 151.94% | 14.26% | -86.85% | -388.83% |
| Net Income (Continuing) | 102.98M | 242.43M | 166.56M | 136.47M | 109.88M | 298.56M | 363.63M | -77.86M | -183.76M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 27.55M | 47.37M | 31.92M | 322.36M | 325.36M | 365.06M | 1.15B | 1.33B | 1.46B |
| EPS (Diluted) | 1.69▲ 0% | 3.81▲ 125.4% | 2.84▼ 25.5% | 2.38▼ 16.2% | 1.46▼ 38.7% | 3.44▲ 135.6% | 3.87▲ 12.5% | 0.54▼ 86.0% | -1.55▼ 387.0% |
| EPS Growth % | 50.89% | 125.44% | -25.46% | -16.2% | -38.66% | 135.62% | 12.5% | -86.05% | -387.04% |
| EPS (Basic) | 1.71 | 3.88 | 2.88 | 2.46 | 1.55 | 3.73 | 4.27 | 0.54 | -1.55 |
| Diluted Shares Outstanding | 61.55M | 62.29M | 60.78M | 62.31M | 68.87M | 71.18M | 72.19M | 66.94M | 67.37M |
| Basic Shares Outstanding | 58.17M | 61.09M | 59.63M | 59.58M | 61.61M | 64.32M | 65.38M | 66.62M | 67.37M |
| Dividend Payout Ratio | 9.62% | 1.27% | 0.65% | - | - | - | - | - | - |
CSIQ Balance Sheet
Canadian Solar Inc. (CSIQ) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 4.09B | 3.07B | 2.65B | 3.44B | 4.77B | 5.64B | 6.1B | 5.52B | 5.43B |
| Cash & Short-Term Investments | 561.68M | 444.3M | 1.2B | 1.64B | 869.83M | 981.43M | 1.96B | 2.25B | 1.91B |
| Cash Only | 561.68M | 444.3M | 1.2B | 1.64B | 869.83M | 981.43M | 1.94B | 2.25B | 1.91B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 19.32M | 0 | 0 |
| Accounts Receivable | 479.95M | 622.23M | 592.22M | 545.71M | 887.54M | 1.24B | 1.21B | 1.49B | 1.33B |
| Days Sales Outstanding | 51.67 | 60.65 | 67.54 | 57.29 | 61.39 | 60.41 | 57.99 | 90.63 | 86.67 |
| Inventory | 346.09M | 262.02M | 602.05M | 878.13M | 1.19B | 1.52B | 1.18B | 1.21B | 1.35B |
| Days Inventory Outstanding | 45.89 | 32.21 | 88.53 | 115.02 | 99.64 | 89.65 | 67.98 | 88.19 | 107.96 |
| Other Current Assets | 2B | 1.23B | 259.09M | 377.13M | 1.6B | 1.65B | 1.57B | 450.66M | 837.5M |
| Total Non-Current Assets | 1.8B | 1.82B | 2.82B | 3.1B | 2.62B | 3.39B | 6.08B | 7.99B | 9.74B |
| Property, Plant & Equipment | 811.2M | 939.88M | 1.14B | 1.34B | 1.62B | 2.3B | 4.28B | 5.53B | 5.88B |
| Fixed Asset Turnover | 4.18x | 3.98x | 2.82x | 2.59x | 3.26x | 3.25x | 1.78x | 1.08x | 0.95x |
| Goodwill | 6.25M | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 89.64M | 80.62M | 22.79M | 22.43M | 18.99M | 17.53M | 19.73M | 31.03M | 0 |
| Long-Term Investments | 414.21M | 126.09M | 162.75M | 80.92M | 98.82M | 115.78M | 277.05M | 319.34M | 394.76M |
| Other Non-Current Assets | 351.23M | 549.64M | 1.34B | 1.48B | 645.76M | 734.87M | 1.24B | 1.63B | 2.8B |
| Total Assets | 5.89B▲ 0% | 4.89B▼ 16.9% | 5.47B▲ 11.7% | 6.54B▲ 19.6% | 7.39B▲ 13.0% | 9.04B▲ 22.3% | 11.9B▲ 31.6% | 13.51B▲ 13.6% | 15.17B▲ 12.3% |
| Asset Turnover | 0.58x | 0.77x | 0.59x | 0.53x | 0.71x | 0.83x | 0.64x | 0.44x | 0.37x |
| Asset Growth % | 8.93% | -16.93% | 11.74% | 19.56% | 13.03% | 22.32% | 31.63% | 13.58% | 12.29% |
| Total Current Liabilities | 4.11B | 2.95B | 3.09B | 3.59B | 4.04B | 5.26B | 5.86B | 5.67B | 5.85B |
| Accounts Payable | 402.96M | 379.46M | 585.6M | 514.74M | 503M | 805.3M | 813.68M | 1.06B | 878.83M |
| Days Payables Outstanding | 53.43 | 46.64 | 86.11 | 67.42 | 42.03 | 47.37 | 46.89 | 77.68 | 70.21 |
| Short-Term Debt | 1.96B | 1.79B | 1.78B | 2.13B | 2.47B | 2.94B | 2.68B | 3.01B | 3.51B |
| Deferred Revenue (Current) | 51.74M | 39.02M | 134.81M | 189.47M | 135.51M | 334.94M | 392.31M | 204.83M | 162.59M |
| Other Current Liabilities | 1.7B | 739.02M | 588.54M | 757.22M | 245.41M | 318.37M | 1.95B | 1.39B | 1.3B |
| Current Ratio | 0.99x | 1.04x | 0.86x | 0.96x | 1.18x | 1.07x | 1.04x | 0.97x | 0.93x |
| Quick Ratio | 0.91x | 0.95x | 0.66x | 0.71x | 0.89x | 0.78x | 0.84x | 0.76x | 0.70x |
| Cash Conversion Cycle | 44.13 | 46.22 | 69.96 | 104.89 | 119 | 102.69 | 79.08 | 101.13 | 124.42 |
| Total Non-Current Liabilities | 721.84M | 671.46M | 950.15M | 1.06B | 1.22B | 1.47B | 2.33B | 3.7B | 5.05B |
| Long-Term Debt | 530.82M | 471.45M | 696.05M | 751.17M | 748.31M | 1.07B | 1.65B | 2.63B | 3.82B |
| Capital Lease Obligations | -81.7M | -75.78M | 20.72M | 13.23M | 23.21M | 25.71M | 116.85M | 271.85M | 354.51M |
| Deferred Tax Liabilities | 5.56M | 35.7M | 56.46M | 49.08M | 48.15M | 66.63M | 82.83M | 204.83M | 296.72M |
| Other Non-Current Liabilities | 103.76M | 88.53M | 176.92M | 242.23M | 404.08M | 308.3M | 471.45M | 588.07M | 583.94M |
| Total Liabilities | 4.83B | 3.62B | 4.04B | 4.64B | 5.26B | 6.73B | 8.19B | 9.36B | 10.9B |
| Total Debt | 2.49B | 2.18B | 2.5B | 2.89B | 3.26B | 4.04B | 4.48B | 5.91B | 7.68B |
| Net Debt | 1.93B | 1.74B | 1.3B | 1.25B | 2.39B | 3.06B | 2.54B | 3.66B | 5.77B |
| Debt / Equity | 2.35x | 1.72x | 1.75x | 1.53x | 1.53x | 1.75x | 1.21x | 1.42x | 1.80x |
| Debt / EBITDA | 6.75x | 4.42x | 5.71x | 6.61x | 6.89x | 6.73x | 5.89x | 12.54x | - |
| Net Debt / EBITDA | 5.23x | 3.52x | 2.98x | 2.87x | 5.05x | 5.10x | 3.34x | 7.76x | - |
| Interest Coverage | 2.28x | 3.44x | 3.18x | 3.07x | 3.27x | 4.79x | 3.97x | -0.22x | -0.16x |
| Total Equity | 1.06B▲ 0% | 1.27B▲ 20.1% | 1.43B▲ 12.0% | 1.89B▲ 32.8% | 2.13B▲ 12.3% | 2.31B▲ 8.5% | 3.71B▲ 60.6% | 4.15B▲ 12.0% | 4.27B▲ 2.9% |
| Equity Growth % | 17.83% | 20.11% | 11.96% | 32.82% | 12.34% | 8.48% | 60.63% | 12% | 2.89% |
| Book Value per Share | 17.22 | 20.43 | 23.45 | 30.38 | 30.88 | 32.41 | 51.32 | 61.99 | 63.38 |
| Total Shareholders' Equity | 1.03B | 1.23B | 1.39B | 1.57B | 1.8B | 1.94B | 2.56B | 2.82B | 2.81B |
| Common Stock | 702.16M | 702.93M | 703.81M | 687.03M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M |
| Retained Earnings | 383.68M | 622.02M | 793.6M | 940.3M | 1.04B | 1.28B | 1.55B | 1.59B | 1.48B |
| Treasury Stock | 0 | 0 | -11.85M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -54.03M | -110.15M | -109.61M | -28.68M | -50.58M | -170.55M | -118.74M | -196.38M | -78.13M |
| Minority Interest | 27.55M | 47.37M | 31.92M | 322.36M | 325.36M | 365.06M | 1.15B | 1.33B | 1.46B |
CSIQ Cash Flow Statement
Canadian Solar Inc. (CSIQ) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 203.92M | 216.28M | 600.11M | -120.54M | -408.25M | 916.63M | 684.62M | -885.32M | -252.74M |
| Operating CF Margin % | 6.01% | 5.78% | 18.75% | -3.47% | -7.74% | 12.27% | 8.99% | -14.77% | -4.52% |
| Operating CF Growth % | 173.33% | 6.06% | 177.47% | -120.09% | -238.68% | 324.52% | -25.31% | -229.32% | 71.45% |
| Net Income | 102.98M | 242.43M | 166.56M | 147.25M | 109.88M | 298.56M | 363.63M | -77.86M | -104.13M |
| Depreciation & Amortization | 99.27M | 129.26M | 159.72M | 209.12M | 282.77M | 234.56M | 307.04M | 501.44M | 0 |
| Stock-Based Compensation | 9.31M | 10.26M | 10.68M | 12.35M | 8.81M | 9.37M | 55.34M | 21.4M | 0 |
| Deferred Taxes | 17.43M | -4.13M | 53.66M | 18.53M | -6.52M | 16.91M | -17.91M | -98.2M | 0 |
| Other Non-Cash Items | 11.61M | 15.16M | -6.5M | 52.64M | 83.56M | 72.12M | 166.25M | 419.89M | 820.45M |
| Working Capital Changes | -36.69M | -176.69M | 215.99M | -560.42M | -886.75M | 285.12M | -189.74M | -1.65B | -969.07M |
| Change in Receivables | 46.34M | -179.61M | 51.67M | 65.38M | -284.79M | -357.28M | 9.43M | -329.18M | 0 |
| Change in Inventory | -49.02M | 55.41M | -312.78M | -180.97M | -518.74M | -406.34M | 182.77M | -312.52M | 0 |
| Change in Payables | -27.76M | 47.76M | 209.18M | -89.18M | 11.02M | 351.54M | 13.12M | 268.21M | 0 |
| Cash from Investing | -341.21M | 29.07M | -294.1M | -319.66M | -429.57M | -630.49M | -1.67B | -1.96B | -1.5B |
| Capital Expenditures | -310.68M | -316.28M | -291.18M | -334.94M | -429.5M | -628M | -1.53B | -1.87B | -1.39B |
| CapEx % of Revenue | 9.16% | 8.45% | 9.1% | 9.63% | 8.14% | 8.41% | 20.04% | 31.21% | 24.87% |
| Acquisitions | -101.25M | 327.55M | -3.02M | 15.28M | -37.02M | -12.27M | -122.85M | -39.73M | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -58.05M | 17.8M | 6.14M | -15.28M | 76.64M | 9.78M | -23.1M | 12.53M | -112.04M |
| Cash from Financing | 165.28M | -463.61M | -34.61M | 823.5M | 614.07M | 428.64M | 2.05B | 2.32B | 1.35B |
| Debt Issued (Net) | 161.74M | -674.34M | -22.84M | 524.34M | 472.87M | 443.13M | 1.03B | 1.66B | 0 |
| Equity Issued (Net) | 0 | 0 | -1000K | -1000K | 1000K | 0 | 0 | 1000K | 1000K |
| Dividends Paid | -9.58M | -3.01M | -1.12M | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -11.85M | -5.96M | 0 | 0 | 0 | 0 | -70.14M |
| Other Financing | 13.12M | 213.74M | 1.19M | 305.13M | -7.3M | -14.49M | 1.02B | 179.89M | 1.2B |
| Net Change in Cash | 50.64M▲ 0% | -249.14M▼ 592.0% | 264.43M▲ 206.1% | 434.3M▲ 64.2% | -205.43M▼ 147.3% | 535.22M▲ 360.5% | 976.93M▲ 82.5% | -682.41M▼ 169.9% | -340.75M▲ 50.1% |
| Free Cash Flow | -106.75M▲ 0% | -100M▲ 6.3% | 308.93M▲ 408.9% | -455.48M▼ 247.4% | -837.75M▼ 83.9% | 288.63M▲ 134.5% | -840.85M▼ 391.3% | -2.76B▼ 227.7% | -1.64B▲ 40.3% |
| FCF Margin % | -3.15% | -2.67% | 9.65% | -13.1% | -15.88% | 3.86% | -11.04% | -45.98% | -29.39% |
| FCF Growth % | 92.32% | 6.33% | 408.92% | -247.44% | -83.93% | 134.45% | -391.32% | -227.73% | 40.34% |
| FCF per Share | -1.73 | -1.61 | 5.08 | -7.31 | -12.16 | 4.05 | -11.65 | -41.17 | -24.41 |
| FCF Conversion (FCF/Net Income) | 2.05x | 0.91x | 3.50x | -0.82x | -4.29x | 3.82x | 2.50x | -24.56x | 2.43x |
| Interest Paid | 113.51M | 103.24M | 85.36M | 78.75M | 71.01M | 76.51M | 121.67M | 130.96M | 0 |
| Taxes Paid | 45.48M | 32.13M | 40.45M | 38.19M | 57.4M | 77.4M | 83.08M | 113.91M | 0 |
CSIQ Key Ratios
Canadian Solar Inc. (CSIQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 7.54% | 10.16% | 20.33% | 12.72% | 8.84% | 4.74% | 10.83% | 9.12% | 0.92% | -2.47% |
| Return on Invested Capital (ROIC) | 2.79% | 6.95% | 9.12% | 6.76% | 5.63% | 3.73% | 5.4% | 5.86% | -0.32% | -0.24% |
| Gross Margin | 14.62% | 18.81% | 20.7% | 22.45% | 19.85% | 17.23% | 16.91% | 16.81% | 16.67% | 18.34% |
| Net Margin | 2.29% | 2.94% | 6.33% | 5.36% | 4.22% | 1.8% | 3.21% | 3.6% | 0.6% | -1.86% |
| Debt / Equity | 2.71x | 2.35x | 1.72x | 1.75x | 1.53x | 1.53x | 1.75x | 1.21x | 1.42x | 1.80x |
| Interest Coverage | 1.34x | 2.28x | 3.44x | 3.18x | 3.07x | 3.27x | 4.79x | 3.97x | -0.22x | -0.16x |
| FCF Conversion | -4.26x | 2.05x | 0.91x | 3.50x | -0.82x | -4.29x | 3.82x | 2.50x | -24.56x | 2.43x |
| Revenue Growth | -17.72% | 18.83% | 10.44% | -14.53% | 8.62% | 51.8% | 41.53% | 1.94% | -21.28% | -6.65% |
CSIQ Frequently Asked Questions
Canadian Solar Inc. (CSIQ) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Canadian Solar Inc. (CSIQ) reported $5.60B in revenue for fiscal year 2025. This represents a 135929% increase from $4.1M in 2003.
Canadian Solar Inc. (CSIQ) saw revenue decline by 6.6% over the past year.
Canadian Solar Inc. (CSIQ) reported a net loss of $104.1M for fiscal year 2025.
Dividend & Returns
Canadian Solar Inc. (CSIQ) has a return on equity (ROE) of -2.5%. Negative ROE indicates the company is unprofitable.
Canadian Solar Inc. (CSIQ) had negative free cash flow of $1.66B in fiscal year 2025, likely due to heavy capital investments.
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Canadian Solar Inc. (CSIQ) financial analysis — history, returns, DCA and operating performance tools
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