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Stocks · Technology · Semiconductors & Related Devices

Canadian Solar Inc.

CSIQ Clue Score16
Ontario, Canada Fiscal year ends December CIK 0001375877
$11.38 +3.31% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $11.38 −66.74% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.85Operating income0.09Net income0.07EPS, diluted1.12Fiscal year 2017Revenue3.39 +18.8%Operating income0.27Net income0.10 +57.8%EPS, diluted1.69 +50.9%Fiscal year 2018Revenue3.74 +10.4%Operating income0.36Net income0.24 +135.4%EPS, diluted3.88 +129.6%Fiscal year 2019Revenue3.20 −14.5%Operating income0.26Net income0.17 −31.3%EPS, diluted2.83 −27.1%Fiscal year 2020Revenue3.48 +8.6%Operating income0.22Net income0.15 −11.6%EPS, diluted2.38 −15.9%Fiscal year 2021Revenue5.28 +51.8%Operating income0.19Net income0.11 −25.4%EPS, diluted1.46 −38.7%Fiscal year 2022Revenue7.47 +41.5%Operating income0.36Net income0.30 +171.7%EPS, diluted3.44 +135.6%Fiscal year 2023Revenue7.61 +1.9%Operating income0.45Net income0.27 −8.2%EPS, diluted3.87 +12.5%Fiscal year 2024Revenue5.99 −21.3%Operating income−0.03Net income0.04 −86.9%EPS, diluted0.54 −86.0%Fiscal year 2025Revenue5.60 −6.6%Operating income0.04Net income−0.10 −388.8%EPS, diluted−2.50 −563.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.85 3.39 3.74 3.20 3.48 5.28 7.47 7.61 5.99 5.60
Growth +18.8% +10.4% −14.5% +8.6% +51.8% +41.5% +1.9% −21.3% −6.6%
Operating income 0.09 0.27 0.36 0.26 0.22 0.19 0.36 0.45 −0.03 0.04
Net income 0.07 0.10 0.24 0.17 0.15 0.11 0.30 0.27 0.04 −0.10
Growth +57.8% +135.4% −31.3% −11.6% −25.4% +171.7% −8.2% −86.9% −388.8%
EPS, diluted 1.12 1.69 3.88 2.83 2.38 1.46 3.44 3.87 0.54 −2.50
Growth +50.9% +129.6% −27.1% −15.9% −38.7% +135.6% +12.5% −86.0% −563.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin14.6%Operating margin3.3%Net margin2.3%Free cash flow margin−19.8%Fiscal year 2017Gross margin18.8%Operating margin7.9%Net margin3.0%Free cash flow margin−2.2%Fiscal year 2018Gross margin20.7%Operating margin9.7%Net margin6.5%Free cash flow margin−2.7%Fiscal year 2019Gross margin22.4%Operating margin8.1%Net margin5.2%Fiscal year 2020Gross margin19.8%Operating margin6.3%Net margin4.2%Fiscal year 2021Gross margin17.2%Operating margin3.6%Net margin2.1%Free cash flow margin−15.9%Fiscal year 2022Gross margin16.9%Operating margin4.8%Net margin4.0%Free cash flow margin3.9%Fiscal year 2023Gross margin16.8%Operating margin6.0%Net margin3.6%Free cash flow margin−5.7%Fiscal year 2024Gross margin16.7%Operating margin−0.5%Net margin0.6%Free cash flow margin−33.3%Fiscal year 2025Gross margin18.3%Operating margin0.8%Net margin−1.9%Free cash flow margin−21.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 14.6% 18.8% 20.7% 22.4% 19.8% 17.2% 16.9% 16.8% 16.7% 18.3%
Operating margin 3.3% 7.9% 9.7% 8.1% 6.3% 3.6% 4.8% 6.0% −0.5% 0.8%
Net margin 2.3% 3.0% 6.5% 5.2% 4.2% 2.1% 4.0% 3.6% 0.6% −1.9%
Free cash flow margin −19.8% −2.2% −2.7% n/a n/a −15.9% 3.9% −5.7% −33.3% −21.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−0.28Capital expenditure−0.29Free cash flow−0.56Fiscal year 2017Operating cash flow0.20Capital expenditure−0.28Free cash flow−0.07Fiscal year 2018Operating cash flow0.22Capital expenditure−0.32Free cash flow−0.10Fiscal year 2019Operating cash flow0.60Buybacks−0.01Fiscal year 2020Operating cash flow−0.12Buybacks−0.01Fiscal year 2021Operating cash flow−0.41Capital expenditure−0.43Free cash flow−0.84Fiscal year 2022Operating cash flow0.92Capital expenditure−0.63Free cash flow0.29Fiscal year 2023Operating cash flow0.68Capital expenditure−1.12Free cash flow−0.43 −249.2%Fiscal year 2024Operating cash flow−0.89Capital expenditure−1.11Free cash flow−2.00Fiscal year 2025Operating cash flow−0.25Capital expenditure−0.96Free cash flow−1.21
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.28 0.20 0.22 0.60 −0.12 −0.41 0.92 0.68 −0.89 −0.25
Capital expenditure −0.29 −0.28 −0.32 n/a n/a −0.43 −0.63 −1.12 −1.11 −0.96
Free cash flow −0.56 −0.07 −0.10 n/a n/a −0.84 0.29 −0.43 −2.00 −1.21
Growth −249.2%
Buybacks n/a n/a n/a −0.01 −0.01 n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.51Total debt1.17Net cash (debt)−0.66Shareholders’ equity0.88Debt to equity1.32Fiscal year 2017Cash0.56Total debt1.12Net cash (debt)−0.56Shareholders’ equity1.03Debt to equity1.09Fiscal year 2018Cash0.44Total debt0.56Net cash (debt)−0.12Shareholders’ equity1.23Debt to equity0.46Fiscal year 2019Cash0.67Total debt1.13Net cash (debt)−0.47Shareholders’ equity1.39Debt to equity0.81Fiscal year 2020Cash1.18Total debt1.22Net cash (debt)−0.05Shareholders’ equity1.57Debt to equity0.78Fiscal year 2021Cash0.87Total debt1.20Net cash (debt)−0.33Shareholders’ equity1.80Debt to equity0.67Fiscal year 2022Cash0.98Total debt2.26Net cash (debt)−1.28Shareholders’ equity1.94Debt to equity1.16Fiscal year 2023Cash1.94Total debt3.07Net cash (debt)−1.13Shareholders’ equity2.56Debt to equity1.20Fiscal year 2024Cash1.70Total debt4.60Net cash (debt)−2.90Shareholders’ equity2.82Debt to equity1.64Fiscal year 2025Cash1.37Total debt6.01Net cash (debt)−4.64Shareholders’ equity2.81Debt to equity2.14
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.51 0.56 0.44 0.67 1.18 0.87 0.98 1.94 1.70 1.37
Total debt 1.17 1.12 0.56 1.13 1.22 1.20 2.26 3.07 4.60 6.01
Net cash (debt) −0.66 −0.56 −0.12 −0.47 −0.05 −0.33 −1.28 −1.13 −2.90 −4.64
Shareholders’ equity 0.88 1.03 1.23 1.39 1.57 1.80 1.94 2.56 2.82 2.81
Debt to equity 1.32 1.09 0.46 0.81 0.78 0.67 1.16 1.20 1.64 2.14

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.85 3.39 3.74 3.20 3.48 5.28 7.47 7.61 5.99 5.60
Growth +18.8% +10.4% −14.5% +8.6% +51.8% +41.5% +1.9% −21.3% −6.6%
2.44 2.75 2.97 2.48 2.79 4.37 6.21 6.33 4.99 4.57
0.42 0.64 0.78 0.72 0.69 0.91 1.26 1.28 1.00 1.03
Growth +52.8% +21.6% −7.3% −4.0% +31.8% +38.9% +1.3% −21.9% +2.7%
0.02 0.03 0.04 0.05 0.05 0.06 0.07 0.10 0.12 0.09
0.20 0.23 0.25 0.24 0.23 0.31 0.34 0.44 0.52 0.58
0.09 0.27 0.36 0.26 0.22 0.19 0.36 0.45 −0.03 0.04
Growth +189.1% +35.4% −29.0% −14.9% −13.6% +87.0% +27.3% −106.6%
0.08 0.14 0.30 0.21 0.13 0.14 0.36 0.41 −0.08 −0.14
0.02 0.04 0.06 0.04 −0.00 0.04 0.07 0.06 −0.02 0.01
0.07 0.10 0.24 0.17 0.15 0.11 0.30 0.27 0.04 −0.10
Growth +57.8% +135.4% −31.3% −11.6% −25.4% +171.7% −8.2% −86.9% −388.8%
Per share
1.13 1.71 4.02 2.88 2.46 1.55 3.73 4.19 0.54 −2.50
1.12 1.69 3.88 2.83 2.38 1.46 3.44 3.87 0.54 −2.50
Growth +50.9% +129.6% −27.1% −15.9% −38.7% +135.6% +12.5% −86.0% −563.0%
57.5 58.2 58.9 59.6 59.6 61.6 64.3 65.4 66.6 67.4
58.1 61.5 62.3 60.8 62.3 68.9 71.2 72.2 66.9 67.4
Growth +6.0% +1.2% −2.4% +2.5% +10.5% +3.4% +1.4% −7.3% +0.6%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.0% a year over five years.
  • The diluted share count rose 8.1% in five years, which is dilution.
  • Operating margin is down 5.6 points on five years ago, at 0.8%.
  • A net loss in 1 of 10 years on file.