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NASDAQ · SEMICONDUCTORS & RELATED DEVICES · LARGE CAP

Canadian Solar Inc. CSIQ

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$5.6B
▼ 6.6% YoY
$-104.1M
▼ 388.8% YoY
$-1.2B

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Canadian Solar Inc. manufactures solar photovoltaic modules, provides battery energy storage solutions, and develops utility-scale solar power and battery energy storage projects. Its global footprint spans North America, Asia Pacific, Europe, Australia, South America, the Middle East and Africa. As of December 31, 2025, it had delivered approximately 174 GW of solar modules to customers worldwide and shipped more than 18 GWh of battery energy storage solutions. Its customer base includes active customers in more than 160 countries. In 2025, its top five customers accounted for 17.4% of its total net revenues, while its largest customer accounted for 4.5%. Its Manufacturing segment focuses on the design, development and manufacturing of solar ingots, wafers, cells, modules and battery energy storage products, operating manufacturing facilities in the U.S. and Asia Pacific, including China. Its Recurrent Energy segment develops, builds, sells and operates solar power and battery energy storage projects, while also providing power services and asset management. Canadian Solar Inc. was incorporated under the laws of the Province of Ontario, Canada, in October 2001, and became a publicly traded company on the Nasdaq under the ticker symbol "CSIQ" following its initial public offering on November 9, 2006.

Written from the business description in Canadian Solar Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 10 April 2026. Every sentence was checked against that document before publication.

Growth

USD 5.6B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 5.6 · Net income -0.1
3B6B
2009201220152018202120242025
Compound annual growth
−9.2%
+10.0%
+4.9%
+9.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.0% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−3 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 0.8% · Net -3.3%
5%10%-5%-10%-15%
200920172025
ROE
FY2025 · ROE -3.7%
5%10%-1%-2%-3%
200920172025
Three returns, three denominators.

Each USD of equity lost 4 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF -1.2
0.1B0.3B-1.0B-2.0B
200920172025
Net buybacks $M Dividends $M
FY2020 · Dividends · · Net buybacks 4.9
5M10M
20192020

Total assetsUSD 15.2B
EquityUSD 2.8B
CashUSD 1.4B
Gross debtUSD 8.4B
Net debtUSD 7.0B
Current ratio1.02×

Net debt stands at 250% of equity.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
CSIQ, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B5.66.07.67.55.33.53.23.73.42.93.53.01.71.31.91.50.6
Operating income $B0.0−0.00.50.40.20.20.30.40.30.10.20.40.1−0.10.00.10.0
EBITDA $B0.60.50.80.60.50.40.40.50.40.20.30.40.2−0.10.10.20.0
Income tax $B0.0−0.00.10.10.0−0.00.00.10.00.00.00.10.0−0.00.00.0−0.0
Net income $B−0.10.00.30.30.10.10.20.20.10.10.20.20.0−0.2−0.10.10.0
Free cash flow $B−1.2−2.0−0.40.3−0.8◌◌−0.1−0.1−0.60.30.20.2−0.2−0.1−0.2−0.0
EPS, diluted $−2.500.543.873.441.462.382.833.881.691.122.934.110.63−4.53−2.111.160.60
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————————————
ROE %−3.71.312.2◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Shares out B0.070.070.070.060.060.060.060.060.060.060.060.060.050.040.040.04◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures · 1 divergence in 83 reconciliationsAUDITED

Reconciled in 16 of the 17 fiscal years we could check. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. Six checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009. Two checks were skipped: revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures1 divergent
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated inoutside the United States — SEC code A6
Fiscal year endsDecember 31
Data on record since2009

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