CSIQ

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Canadian Solar Inc.

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Key Metrics

Previous Close: $15.78
52-Week Range: $9.41 – $34.59
Market Cap: $1.00B
P/E (TTM): —
EPS (TTM): -2.35
Dividend Yield: —

Advanced Metrics

Price/Book: 0.35
PEG Ratio: 0.13
Return on Equity: -2.88%
Return on Assets: 1.28%
Gross Margin: 22.22%
Operating Margin: 6.76%
Profit Margin: -1.87%
Current Ratio: 1.06
Debt/Equity: 1.65
Total Debt: $7.08B
Free Cash Flow: $-953.28M
Revenue Growth: -9.90%
Earnings Growth: —
Enterprise Value: $8.11B

CSIQ Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$7.47B	$7.61B	$5.99B	$5.60B
Cost of Revenue	$6.21B	$6.33B	$4.99B	$4.57B
Gross Profit	$1.26B	$1.28B	$999.32M	$1.03B
Research & Development	$69.82M	$100.84M	$120.79M	$90.69M
Selling, General & Admin	$901.05M	$810.16M	$1.00B	$964.40M
Operating Expenses	$907.08M	$826.66M	$1.03B	$983.07M
Operating Income	$356.06M	$453.32M	-$30.08M	$43.16M
EBITDA	$665.29M	$829.66M	$556.61M	$592.48M
Pretax Income	$356.47M	$408.52M	-$82.30M	-$140.74M
Income Tax	$73.35M	$59.50M	-$16.58M	$14.15M
Net Income	$239.97M	$274.19M	$36.05M	-$104.13M
Diluted EPS	3.44	3.87	0.54	-2.50
Diluted Shares	71.18M	72.19M	66.94M	67.37M

CSIQ Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$981.43M	$1.94B	$1.70B	$1.37B
Receivables	$1.24B	$1.21B	$1.49B	$1.33B
Inventory	$1.52B	$1.18B	$1.21B	$1.13B
Current Assets	$5.64B	$6.10B	$5.92B	$5.98B
Total Assets	$9.04B	$11.90B	$13.51B	$15.17B
Current Liabilities	$5.26B	$5.86B	$5.42B	$5.85B
Long-Term Debt	$1.07B	$1.65B	$2.88B	$3.82B
Total Debt	$4.04B	$4.48B	$5.91B	$7.68B
Total Liabilities	$6.73B	$8.19B	$9.36B	$10.90B
Retained Earnings	$1.28B	$1.55B	$1.59B	$1.48B
Shareholders' Equity	$1.94B	$2.56B	$2.82B	$2.81B
Working Capital	$385.89M	$231.06M	$498.17M	$128.48M
Net Debt	$3.03B	$2.40B	$3.92B	$5.93B

CSIQ Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$916.63M	$684.62M	-$885.32M	-$252.74M
Capital Expenditure	-$628.00M	-$1.53B	-$1.87B	-$1.39B
Free Cash Flow	$288.63M	-$840.85M	-$2.76B	-$1.64B
Depreciation & Amortisation	$234.56M	$307.04M	$501.44M	$555.05M
Stock-Based Compensation	$9.37M	$55.34M	$21.40M	$24.41M
Investing Cash Flow	-$630.49M	-$1.67B	-$1.96B	-$1.50B
Financing Cash Flow	$428.64M	$2.05B	$2.32B	$1.35B
Share Repurchases	$0.00	—	—	—
Net Change in Cash	$714.78M	$1.07B	-$527.81M	-$408.73M

CSIQ Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.20B	$1.69B	$1.49B	$1.22B	$1.08B
Cost of Revenue	$1.06B	$1.19B	$1.23B	$1.09B	$807.06M
Gross Profit	$140.49M	$505.03M	$256.30M	$124.40M	$270.82M
Research & Development	$24.28M	$24.72M	$20.00M	$21.68M	$20.72M
Selling, General & Admin	$196.42M	$362.15M	$217.84M	$187.99M	$189.75M
Operating Expenses	$195.30M	$377.60M	$221.71M	$188.46M	$197.95M
Operating Income	-$54.80M	$127.43M	$34.59M	-$64.06M	$72.87M
EBITDA	-$55.24M	$125.94M	$36.80M	-$70.07M	$61.05M
Pretax Income	-$95.73M	$81.13M	-$7.62M	-$118.53M	$8.69M
Income Tax	-$23.12M	$34.31M	$7.14M	-$4.18M	$16.94M
Net Income	-$33.97M	$7.20M	$8.99M	-$86.34M	-$32.09M
Diluted EPS	-0.69	0.08	-0.07	-1.66	-0.71
Diluted Shares	66.96M	67.17M	67.62M	67.71M	67.82M

CSIQ Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$1.58B	$1.86B	$1.76B	$1.37B	$1.44B
Receivables	$1.34B	$1.33B	$1.31B	$1.33B	$1.22B
Inventory	$1.50B	$1.25B	$1.24B	$1.13B	$1.52B
Current Assets	$5.99B	$6.21B	$6.39B	$5.98B	$6.46B
Total Assets	$13.90B	$14.81B	$15.16B	$15.17B	$15.53B
Current Liabilities	$5.59B	$5.68B	$5.97B	$5.85B	$6.07B
Long-Term Debt	$3.22B	$3.89B	$3.73B	$3.82B	$3.96B
Total Debt	$6.49B	$7.13B	$7.40B	$7.68B	$7.81B
Total Liabilities	$9.82B	$10.64B	$10.80B	$10.90B	$11.24B
Retained Earnings	$1.55B	$1.56B	$1.57B	$1.48B	$1.45B
Shareholders' Equity	$2.77B	$2.85B	$2.87B	$2.81B	$2.83B
Working Capital	$404.71M	$534.05M	$417.29M	$128.48M	$392.16M
Net Debt	$4.57B	$4.92B	$5.27B	$5.93B	$5.99B

CSIQ Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$264.20M	$188.56M	-$112.06M	-$65.03M	-$208.66M
Capital Expenditure	-$385.09M	-$392.42M	-$294.45M	-$319.48M	-$193.26M
Free Cash Flow	-$649.29M	-$203.87M	-$406.51M	-$384.52M	-$401.92M
Investing Cash Flow	-$468.98M	-$448.31M	-$287.66M	-$298.54M	-$133.09M
Financing Cash Flow	$544.24M	$471.06M	$310.41M	$21.80M	$337.92M
Share Repurchases	-$21.40M	-$24.22M	$0.00	—	$0.00
Net Change in Cash	-$188.95M	$211.31M	-$89.31M	-$341.77M	-$3.83M

Market Snapshot

About

Canadian Solar Inc. is a global provider of solar photovoltaic modules and energy solutions, headquartered in Guelph, Ontario, Canada. The company manufactures solar modules and operates utility-scale solar power projects across multiple countries. Canadian Solar also develops and sells battery storage systems and operates a portfolio of solar power plants. The company serves residential, commercial, industrial, and utility customers worldwide, with manufacturing facilities in Asia and sales operations across six continents.