Canadian Solar Inc. (CSIQ) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 6.46B | 5.43B | 6.39B | 6.21B | 5.99B | 5.52B | 6.39B | 5.22B | 5.9B | 5.81B | 6.63B | 7.32B | 6.05B | 5.64B | 5.75B | 5.73B | 5.69B | 4.18B | 4.96B | 4.36B |
| Cash & Short-Term Investments | 1.44B | 1.91B | 1.76B | 1.86B | 1.58B | 2.25B | 2.17B | 2.18B | 2.89B | 2.94B | 1.92B | 2.01B | 848.03M | 1B | 1.08B | 1.05B | 844.56M | 1.43B | 867.94M | 814.19M |
| Cash Only | 1.44B | 1.91B | 1.76B | 1.86B | 1.58B | 2.25B | 2.17B | 2.18B | 2.89B | 2.94B | 1.92B | 2.01B | 848.03M | 981.43M | 1.08B | 1.05B | 844.56M | 1.43B | 867.94M | 814.19M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22.08M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.22B | 1.33B | 1.31B | 1.33B | 1.34B | 1.49B | 1.12B | 1.39B | 1.14B | 1.21B | 1.3B | 1.59B | 1.3B | 1.03B | 1.19B | 1.11B | 965.35M | 887.54M | 913.39M | 821.91M |
| Days Sales Outstanding | 106.6 | 99.68 | 81.54 | 71.54 | 106.2 | 78.75 | 76.48 | 70.37 | 80.4 | 67.83 | 71.99 | 55.67 | 61.68 | 51.84 | 54.89 | 40.86 | 66.69 | 54.19 | 64.93 | 44.94 |
| Inventory | 1.52B | 1.35B | 1.24B | 1.25B | 1.5B | 1.21B | 1.26B | 1.2B | 1.62B | 1.37B | 1.43B | 1.53B | 1.67B | 1.52B | 1.6B | 1.62B | 1.63B | 1.42B | 1.21B | 1.13B |
| Days Inventory Outstanding | 160.06 | 109.27 | 93.13 | 105.13 | 115.27 | 87.14 | 90.12 | 95.1 | 126.69 | 86.7 | 88.65 | 75.78 | 103.96 | 88.65 | 94.52 | 76.13 | 128.21 | 98.62 | 107.7 | 75.43 |
| Other Current Assets | 2.06B | 837.5M | 1.88B | 1.57B | 1.39B | 450.66M | 1.48B | 274.05M | 247.75M | 292.88M | 1.68B | 1.85B | 1.88B | 1.96B | 1.51B | 1.67B | 1.97B | 441.46M | 1.65B | 1.42B |
| Total Non-Current Assets | 9.07B | 9.74B | 8.77B | 8.6B | 7.91B | 7.99B | 7.39B | 6.91B | 6.47B | 6.08B | 4.77B | 3.88B | 3.78B | 3.39B | 2.91B | 2.65B | 2.68B | 3.21B | 2.53B | 2.66B |
| Property, Plant & Equipment | 6B | 5.88B | 5.79B | 5.72B | 5.84B | 5.53B | 5.38B | 4.57B | 4.45B | 4.28B | 3.46B | 2.76B | 2.61B | 2.3B | 1.65B | 1.49B | 1.52B | 1.55B | 1.51B | 1.59B |
| Fixed Asset Turnover | 0.18x | 0.21x | 0.26x | 0.29x | 0.21x | 0.28x | 0.30x | 0.36x | 0.30x | 0.44x | 0.59x | 0.88x | 0.69x | 1.00x | 1.23x | 1.54x | 0.81x | 1.00x | 0.79x | 0.94x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 31.28M | 31.98M | 31.99M | 32.21M | 32.9M | 31.03M | 33.29M | 33.92M | 35.39M | 19.73M | 13.83M | 13.94M | 14.8M | 17.53M | 79.66M | 82.76M | 88.81M | 18.99M | 89.42M | 91.45M |
| Long-Term Investments | 307.25M | 394.76M | 276.08M | 262.01M | 245.67M | 319.34M | 242.37M | 276.35M | 280.3M | 277.05M | 177.95M | 159.49M | 136.45M | 123.98M | 107.37M | 104.53M | 98.81M | 102.64M | 82.96M | 62.52M |
| Other Non-Current Assets | 2.08B | 2.8B | 2.29B | 2.19B | 1.37B | 1.63B | 1.31B | 1.72B | 1.42B | 1.24B | 851.75M | 729.54M | 791.82M | 955.9M | 843.41M | 719.25M | 740.77M | 1.31B | 661.41M | 724.62M |
| Total Assets | 15.53B | 15.17B | 15.16B | 14.81B | 13.9B | 13.51B | 13.78B | 12.14B | 12.37B | 11.9B | 11.4B | 11.2B | 9.83B | 9.04B | 8.66B | 8.38B | 8.37B | 7.39B | 7.48B | 7.02B |
| Asset Turnover | 0.07x | 0.08x | 0.10x | 0.12x | 0.09x | 0.11x | 0.12x | 0.13x | 0.11x | 0.15x | 0.16x | 0.22x | 0.18x | 0.22x | 0.23x | 0.28x | 0.16x | 0.21x | 0.17x | 0.21x |
| Asset Growth % | 11.8% | 12.29% | 9.99% | 22.04% | 12.36% | 13.58% | 20.87% | 8.38% | 25.82% | 31.63% | 31.62% | 33.63% | 17.4% | 22.32% | 15.77% | 19.3% | 22.42% | 13.03% | 20.82% | 33.59% |
| Total Current Liabilities | 6.07B | 5.85B | 5.97B | 5.68B | 5.59B | 5.67B | 6.02B | 5.58B | 6.04B | 5.86B | 5.71B | 6B | 5.82B | 5.26B | 4.93B | 4.78B | 4.76B | 4.04B | 4.18B | 3.87B |
| Accounts Payable | 1.03B | 878.83M | 1.07B | 1.02B | 1.03B | 1.06B | 957.64M | 842.11M | 818.19M | 813.68M | 918.82M | 770.61M | 797.91M | 2.3B | 914.63M | 855.86M | 791.22M | 503M | 791.74M | 762.27M |
| Days Payables Outstanding | 106.48 | 82.04 | 77.95 | 78.45 | 89.33 | 71.26 | 65.69 | 55.82 | 68.98 | 53.54 | 50.52 | 37.1 | 100.74 | 91.08 | 51.88 | 38.57 | 54.46 | 48.52 | 71.43 | 53.63 |
| Short-Term Debt | 3.48B | 3.51B | 3.3B | 2.89B | 2.92B | 3.01B | 3.11B | 2.8B | 3.1B | 2.7B | 2.98B | 3.6B | 3.38B | 1.44B | 2.78B | 2.93B | 2.94B | 2.49B | 2.21B | 2.18B |
| Deferred Revenue (Current) | 216.08M | 162.59M | 221.65M | 143.22M | 191.38M | 204.83M | 251.93M | 274.05M | 362.32M | 392.31M | 347.38M | 313.97M | 335.21M | 0 | 245.51M | 151.46M | 145.14M | 135.51M | 305.8M | 132.62M |
| Other Current Liabilities | 485.08M | 1.3B | 452.35M | 561.5M | 482.51M | 1.39B | 578.63M | 1.64B | 1.76B | 1.95B | 1.46B | 1.3B | 1.29B | 1.49B | 976.08M | 830.93M | 868.46M | 913.4M | 856.35M | 786.65M |
| Current Ratio | 1.06x | 0.93x | 1.07x | 1.09x | 1.07x | 0.97x | 1.06x | 0.94x | 0.98x | 0.99x | 1.16x | 1.22x | 1.04x | 1.07x | 1.17x | 1.20x | 1.20x | 1.03x | 1.19x | 1.13x |
| Quick Ratio | 0.81x | 0.70x | 0.86x | 0.87x | 0.80x | 0.76x | 0.85x | 0.72x | 0.71x | 0.76x | 0.91x | 0.96x | 0.75x | 0.78x | 0.84x | 0.86x | 0.85x | 0.68x | 0.90x | 0.84x |
| Cash Conversion Cycle | 160.18 | 126.91 | 96.71 | 98.21 | 132.14 | 94.62 | 100.91 | 109.65 | 138.1 | 100.99 | 110.12 | 94.35 | 64.9 | 49.41 | 97.54 | 78.42 | 140.44 | 104.29 | 101.2 | 66.73 |
| Total Non-Current Liabilities | 5.17B | 5.05B | 4.83B | 4.96B | 4.24B | 3.7B | 3.73B | 2.7B | 2.64B | 2.33B | 2.07B | 1.75B | 1.58B | 1.47B | 1.62B | 1.49B | 1.47B | 1.22B | 1.27B | 1.19B |
| Long-Term Debt | 3.96B | 3.82B | 3.73B | 3.89B | 3.22B | 2.63B | 2.63B | 2B | 1.97B | 1.65B | 1.45B | 1.24B | 1.09B | 1.07B | 1.17B | 1.01B | 978.34M | 801.95M | 886.16M | 754.65M |
| Capital Lease Obligations | 338.66M | 354.51M | 344.66M | 321.31M | 316.88M | 271.85M | 205.69M | 113.33M | 111.61M | 116.85M | 91.58M | 75.71M | 72.85M | 40.09M | 19.36M | 20.65M | 24.14M | 23.21M | 19.46M | 18.95M |
| Deferred Tax Liabilities | 300.72M | 296.72M | 117.35M | 119.79M | 118.93M | 204.83M | 90.37M | 88.62M | 82.64M | 82.83M | 67.63M | 68.46M | 67.93M | 0 | 44.06M | 46.38M | 48.91M | 48.15M | 47.23M | 49.74M |
| Other Non-Current Liabilities | 570.98M | 583.94M | 638.25M | 625.87M | 582.02M | 588.07M | 800.26M | 497.4M | 473.86M | 471.45M | 453.54M | 362.73M | 350.18M | 360.56M | 378.53M | 412.67M | 415.19M | 350.44M | 232.77M | 289.51M |
| Total Liabilities | 11.24B | 10.9B | 10.8B | 10.64B | 9.82B | 9.36B | 9.75B | 8.28B | 8.68B | 8.19B | 7.78B | 7.76B | 7.4B | 6.73B | 6.54B | 6.27B | 6.23B | 5.26B | 5.45B | 5.06B |
| Total Debt | 7.81B | 7.68B | 7.4B | 7.13B | 6.49B | 5.91B | 5.97B | 4.93B | 5.18B | 4.48B | 4.53B | 4.93B | 4.55B | 2.58B | 3.98B | 3.97B | 3.96B | 3.31B | 3.13B | 2.96B |
| Net Debt | 6.37B | 5.77B | 5.64B | 5.27B | 4.91B | 3.66B | 3.8B | 2.75B | 2.29B | 1.54B | 2.61B | 2.92B | 3.71B | 1.6B | 2.9B | 2.92B | 3.11B | 1.88B | 2.26B | 2.15B |
| Debt / Equity | 1.82x | 1.80x | 1.70x | 1.71x | 1.59x | 1.42x | 1.48x | 1.28x | 1.40x | 1.21x | 1.25x | 1.43x | 1.87x | 1.12x | 1.88x | 1.88x | 1.85x | 1.56x | 1.54x | 1.51x |
| Debt / EBITDA | 127.86x | - | 201.07x | 26.08x | - | - | 434.82x | 29.07x | 35.60x | 11.47x | 52.45x | 18.31x | 21.32x | 13.89x | 27.52x | 29.69x | 228.49x | 23.09x | 25.22x | 32.05x |
| Net Debt / EBITDA | 104.25x | - | 153.15x | 19.29x | - | - | 276.93x | 16.21x | 15.73x | 3.94x | 30.23x | 10.84x | 17.35x | 8.60x | 20.03x | 21.81x | 179.74x | 13.11x | 18.22x | 23.24x |
| Interest Coverage | 1.17x | -1.45x | 0.83x | 2.81x | -1.36x | -3.16x | 0.40x | 2.23x | 2.29x | 0.55x | 2.89x | 8.84x | 7.27x | 6.55x | 7.73x | 6.79x | 1.13x | 5.15x | 3.39x | 2.10x |
| Total Equity | 4.3B | 4.27B | 4.36B | 4.18B | 4.07B | 4.15B | 4.03B | 3.86B | 3.69B | 3.71B | 3.62B | 3.44B | 2.43B | 2.31B | 2.12B | 2.11B | 2.14B | 2.13B | 2.03B | 1.96B |
| Equity Growth % | 5.55% | 2.89% | 8.1% | 8.19% | 10.27% | 12% | 11.35% | 12.16% | 51.66% | 60.63% | 71.1% | 62.98% | 13.49% | 8.48% | 4.07% | 7.49% | 14.41% | 12.34% | 11.99% | 26.81% |
| Book Value per Share | 63.36 | 63.06 | 64.46 | 62.36 | 60.79 | 56.57 | 60.25 | 57.62 | 55.39 | 56.11 | 49.65 | 48.00 | 34.08 | 32.35 | 29.64 | 29.70 | 33.14 | 30.16 | 29.11 | 32.02 |
| Total Shareholders' Equity | 2.83B | 2.81B | 2.87B | 2.85B | 2.77B | 2.82B | 2.87B | 2.66B | 2.53B | 2.56B | 2.49B | 2.45B | 2.05B | 1.94B | 1.78B | 1.79B | 1.82B | 1.8B | 1.71B | 1.65B |
| Common Stock | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 835.54M | 792.73M | 744.89M |
| Retained Earnings | 1.45B | 1.48B | 1.57B | 1.56B | 1.55B | 1.59B | 1.55B | 1.57B | 1.56B | 1.55B | 1.55B | 1.53B | 1.36B | 1.28B | 1.2B | 1.12B | 1.04B | 1.04B | 1.01B | 974.34M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -25.12M | -78.13M | -114.81M | -115.17M | -199.86M | -196.38M | -101.49M | -215.62M | -166.04M | -118.74M | -179.65M | -158.78M | -149.72M | -170.55M | -236.6M | -152.21M | -44.28M | -50.58M | -68.02M | -45.72M |
| Minority Interest | 1.47B | 1.46B | 1.49B | 1.32B | 1.3B | 1.33B | 1.16B | 1.2B | 1.16B | 1.15B | 1.13B | 993.75M | 386.23M | 365.06M | 331.6M | 322.52M | 326.48M | 325.36M | 320.46M | 313.23M |