Canadian Solar (CSIQ) Financials

$16.80 +0.93 (+5.86%)

Closing price 04:00 PM Eastern

Extended Trading

$16.90 +0.10 (+0.60%)

As of 05:52 PM Eastern

Annual Income Statements for Canadian Solar

This table shows Canadian Solar's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	172	65	100	237	172	147	95	240	274	36	-104
Consolidated Net Income / (Loss)	173	65	103	242	167	147	110	299	364	-78	-184
Net Income / (Loss) Continuing Operations	173	65	103	242	167	147	110	299	364	-78	-184
Total Pre-Tax Income	223	88	135	298	180	134	138	356	409	-82	-141
Total Operating Income	247	93	269	365	259	220	190	356	453	-30	43
Total Gross Profit	577	417	638	775	718	690	909	1,263	1,280	999	1,026
Total Revenue	3,468	2,853	3,390	3,745	3,201	3,476	5,277	7,469	7,614	5,993	5,595
Operating Revenue	3,468	2,853	3,390	3,745	3,201	3,476	5,277	7,469	7,614	5,993	5,595
Total Cost of Revenue	2,891	2,436	2,753	2,969	2,482	2,787	4,368	6,205	6,334	4,994	4,569
Operating Cost of Revenue	2,891	2,436	2,753	2,969	2,482	2,787	4,368	6,205	6,334	4,994	4,569
Total Operating Expenses	329	324	368	410	460	469	719	907	827	1,029	983
Selling, General & Admin Expense	318	349	387	245	243	226	309	342	440	515	582
Marketing Expense	-	-	-	165	180	224	399	559	370	488	383
Research & Development Expense	17	17	29	44	47	45	58	70	101	121	91
Other Operating Expenses / (Income)	-5.39	-43	-48	-45	-11	-26	-47	-64	-84	-95	-72
Total Other Income / (Expense), net	-24	-5.51	-135	-66	-79	-86	-52	0.41	-45	-52	-184
Interest Expense	54	70	118	106	81	72	58	74	114	137	178
Interest & Investment Income	19	8.70	6.87	53	14	0.75	30	41	66	90	53
Other Income / (Expense), net	11	56	-24	-13	-12	-15	-23	33	3.05	-4.65	-59
Income Tax Expense	50	18	41	62	42	-1.98	36	73	60	-17	14
Other Gains / (Losses), net	-0.64	-4.40	9.41	5.91	29	11	7.26	15	15	-12	-29
Net Income / (Loss) Attributable to Noncontrolling Interest	1.46	0.03	3.41	5.36	-5.03	0.54	15	59	89	-114	-80
Basic Earnings per Share	$3.08	$1.13	$1.71	$4.02	$2.88	$2.46	$1.55	$3.73	$4.19	$0.54	($2.50)
Weighted Average Basic Shares Outstanding	55.73M	57.52M	58.17M	58.91M	59.63M	59.58M	61.61M	64.32M	65.38M	66.62M	67.37M
Diluted Earnings per Share	$2.93	$1.12	$1.69	$3.88	$2.83	$2.38	$1.46	$3.44	$3.87	$0.54	($2.50)
Weighted Average Diluted Shares Outstanding	60.43M	58.06M	61.55M	62.29M	60.78M	62.31M	68.87M	71.18M	72.19M	66.94M	67.37M
Weighted Average Basic & Diluted Shares Outstanding	55.97M	57.83M	58.50M	59.18M	59.37M	59.82M	64.02M	64.51M	66.16M	66.95M	67.81M

No quarterly income statements for Canadian Solar are available.

This table details how cash moves in and out of Canadian Solar's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	3.54	-118	181	-257	264	434	-205	535	977	-682	-324
Net Cash From Operating Activities	414	-278	204	216	600	-121	-408	917	685	-885	-253
Net Cash From Continuing Operating Activities	414	-278	204	213	600	-121	-408	917	685	-885	-253
Net Income / (Loss) Continuing Operations	173	65	103	242	167	147	110	299	364	-78	-184
Consolidated Net Income / (Loss)	173	65	103	242	167	147	110	299	364	-78	-184
Depreciation Expense	94	96	99	129	160	209	283	235	307	501	555
Non-Cash Adjustments To Reconcile Net Income	215	-175	188	-133	306	105	144	953	-337	6.66	432
Changes in Operating Assets and Liabilities, net	-69	-264	-186	-25	-32	-582	-945	-570	351	-1,316	-1,056
Net Cash From Investing Activities	-999	-1,093	-239	29	-294	-320	-430	-630	-1,671	-1,962	-1,503
Net Cash From Continuing Investing Activities	-999	-1,093	-239	29	-294	-320	-430	-630	-1,671	-1,962	-1,503
Purchase of Property, Plant & Equipment	-91	-287	-277	-316	-291	-335	-429	-627	-1,116	-1,113	-962
Acquisitions	-89	-128	-105	-11	-7.68	-18	-54	-19	-123	-40	-77
Purchase of Investments	-197	0.00	-	0.00	-	-	0.00	0.00	0.00	-65	-119
Sale of Property, Plant & Equipment	0.22	-	-	-	0.00	0.00	19	-	0.00	0.00	47
Other Investing Activities, net	-628	-688	139	18	0.10	-0.16	18	16	-432	-745	-391
Net Cash From Financing Activities	619	1,300	165	-464	-35	824	614	429	2,053	2,320	1,348
Net Cash From Continuing Financing Activities	619	1,300	165	-464	-35	824	614	429	2,053	2,320	1,348
Repayment of Debt	-1,349	-2,291	-2,207	-2,369	-1,777	-1,584	-1,903	-1,729	-1,667	-1,563	-2,712
Repurchase of Common Equity	0.00	-0.46	0.00	0.00	-12	-5.96	0.00	0.00	0.00	-80	-70
Payment of Dividends	-1.23	0.00	0.00	-6.59	-14	0.00	-11	0.00	-3.99	-28	-27
Issuance of Debt	1,924	3,052	2,338	1,814	1,788	2,098	2,330	2,158	2,704	3,225	3,949
Issuance of Preferred Equity	-	-	-	-	-	-	-	0.00	0.00	482	0.00
Other Financing Activities, net	29	513	35	88	-31	54	39	0.00	1,020	283	208
Effect of Exchange Rate Changes	-31	-47	51	-39	-6.97	51	18	-180	-89	-155	85
Cash Interest Paid	50	71	114	103	85	79	71	77	122	131	170
Cash Income Taxes Paid	87	188	45	32	40	38	57	77	83	114	150

No quarterly cash flow statements for Canadian Solar are available.

This table presents Canadian Solar's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,414	5,407	5,890	4,893	5,467	6,537	7,388	9,037	11,896	13,512	15,172
Total Current Assets	2,264	3,791	4,085	3,074	3,253	4,186	4,772	5,645	6,095	5,917	5,979
Cash & Equivalents	553	511	562	444	669	1,179	870	981	1,939	1,701	1,370
Restricted Cash	535	488	618	481	527	458	561	978	1,000	551	542
Accounts Receivable	540	423	385	515	483	443	762	1,077	1,047	1,267	1,076
Inventories, net	366	325	407	299	602	878	1,418	1,778	1,373	1,331	1,351
Prepaid Expenses	78	267	296	289	254	354	434	268	284	437	823
Current Deferred & Refundable Income Taxes	75	56	95	107	109	102	126	159	163	222	252
Other Current Assets	118	1,330	1,540	938	610	771	601	403	290	408	564
Plant, Property, & Equipment, net	331	462	747	885	1,046	1,158	1,402	1,827	3,088	3,175	3,376
Total Noncurrent Assets	1,819	1,153	1,057	933	1,168	1,193	1,215	1,566	2,712	4,420	5,817
Long-Term Investments	187	368	414	126	153	78	99	116	237	233	290
Intangible Assets	79	8.42	11	15	23	22	19	18	20	31	32
Noncurrent Deferred & Refundable Income Taxes	97	230	132	121	154	171	237	229	263	474	634
Other Noncurrent Operating Assets	1,401	530	483	655	829	919	857	1,193	2,184	3,671	4,833
Other Noncurrent Nonoperating Assets	47	9.15	11	16	9.93	2.63	3.82	9.95	7.81	11	28
Total Liabilities & Shareholders' Equity	4,414	5,407	5,890	4,893	5,467	6,537	7,388	9,037	11,896	13,512	15,172
Total Liabilities	3,581	4,507	4,830	3,620	4,042	4,644	5,262	6,730	8,191	9,362	10,902
Total Current Liabilities	2,656	3,721	4,108	2,948	3,092	3,588	4,038	5,259	5,864	5,419	5,850
Short-Term Debt	1,630	2,028	2,530	1,421	1,219	1,401	1,593	2,937	1,805	2,102	2,389
Accounts Payable	762	684	724	804	1,042	1,024	1,171	1,658	2,173	2,047	1,658
Current Deferred Revenue	76	90	52	39	135	189	136	335	392	205	163
Other Current Liabilities	186	181	208	525	696	974	1,139	328	1,494	1,065	1,641
Total Noncurrent Liabilities	925	786	722	671	950	1,056	1,224	1,472	2,326	3,943	5,052
Long-Term Debt	753	619	531	394	619	669	748	1,071	1,655	0.00	195
Noncurrent Deferred & Payable Income Tax Liabilities	33	32	15	56	72	64	56	72	89	211	303
Other Noncurrent Operating Liabilities	138	135	176	221	259	323	420	328	583	3,732	4,554
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	0.00	248	327
Total Equity & Noncontrolling Interests	833	899	1,060	1,273	1,425	1,893	2,126	2,307	3,705	3,902	3,943
Total Preferred & Common Equity	819	885	1,032	1,225	1,393	1,570	1,801	1,942	2,559	2,816	2,808
Total Common Equity	819	885	1,032	1,225	1,393	1,570	1,801	1,942	2,559	2,816	2,808
Common Stock	660	692	703	714	721	659	816	837	1,128	1,426	1,404
Retained Earnings	219	284	384	622	794	940	1,036	1,276	1,550	1,586	1,482
Accumulated Other Comprehensive Income / (Loss)	-60	-92	-54	-110	-110	-29	-51	-171	-119	-196	-78
Noncontrolling Interest	14	15	28	47	32	322	325	365	1,146	1,086	1,135

No quarterly balance sheets for Canadian Solar are available.

This table displays calculated financial ratios and metrics derived from Canadian Solar's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	67,810,136.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	67,810,136.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-1.54
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.12%	-17.72%	18.83%	10.44%	-14.53%	8.62%	51.80%	41.53%	1.94%	-21.28%	-6.65%
EBITDA Growth	-19.48%	-30.66%	41.05%	39.52%	-15.47%	1.96%	8.43%	38.72%	22.38%	-38.86%	15.50%
EBIT Growth	-27.27%	-42.47%	65.21%	43.29%	-29.81%	-16.77%	-18.81%	133.19%	17.24%	-107.61%	53.88%
NOPAT Growth	-30.71%	-61.54%	152.98%	54.23%	-31.38%	12.82%	-36.92%	100.42%	36.95%	-105.44%	243.47%
Net Income Growth	-28.94%	-62.34%	57.77%	135.41%	-31.30%	-11.59%	-25.38%	171.72%	21.80%	-121.41%	-136.01%
EPS Growth	-28.71%	-61.77%	50.89%	129.59%	-27.06%	-15.90%	-38.66%	135.62%	12.50%	-86.05%	-562.96%
Operating Cash Flow Growth	56.03%	-167.22%	173.33%	6.06%	177.47%	-120.09%	-238.68%	324.52%	-25.31%	-229.32%	71.45%
Free Cash Flow Firm Growth	-419.07%	85.86%	-206.21%	386.62%	-60.16%	-136.94%	-373.04%	-84.65%	162.71%	-520.90%	-507.14%
Invested Capital Growth	77.59%	8.65%	22.46%	-19.79%	-5.71%	17.82%	30.70%	44.13%	-5.85%	66.57%	23.14%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.63%	14.62%	18.81%	20.70%	22.45%	19.85%	17.23%	16.91%	16.81%	16.67%	18.34%
EBITDA Margin	10.17%	8.57%	10.17%	12.85%	12.71%	11.93%	8.52%	8.35%	10.03%	7.79%	9.63%
Operating Margin	7.13%	3.27%	7.94%	9.74%	8.09%	6.34%	3.61%	4.77%	5.95%	-0.50%	0.77%
EBIT Margin	7.45%	5.21%	7.24%	9.40%	7.72%	5.91%	3.16%	5.21%	5.99%	-0.58%	-0.29%
Profit (Net Income) Margin	5.00%	2.29%	3.04%	6.47%	5.20%	4.24%	2.08%	4.00%	4.78%	-1.30%	-3.28%
Tax Burden Percent	77.56%	74.47%	76.55%	81.22%	92.70%	109.49%	79.35%	83.75%	89.01%	94.61%	130.57%
Interest Burden Percent	86.47%	58.96%	54.77%	84.81%	72.73%	65.41%	82.95%	91.58%	89.52%	236.97%	878.69%
Effective Tax Rate	22.16%	20.51%	30.44%	20.76%	23.41%	-1.47%	25.89%	20.58%	14.56%	0.00%	0.00%
Return on Invested Capital (ROIC)	13.01%	3.75%	8.19%	12.73%	10.10%	10.78%	5.45%	7.89%	9.43%	-0.40%	0.72%
ROIC Less NNEP Spread (ROIC-NNEP)	10.25%	2.96%	1.74%	8.51%	4.94%	-7.58%	0.07%	9.05%	7.28%	-4.51%	1,058.31%
Return on Net Nonoperating Assets (RNNOA)	9.14%	3.79%	2.33%	8.06%	2.25%	-1.90%	0.02%	5.57%	2.66%	-1.59%	-5.09%
Return on Equity (ROE)	22.15%	7.54%	10.51%	20.79%	12.35%	8.88%	5.47%	13.47%	12.10%	-1.98%	-4.37%
Cash Return on Invested Capital (CROIC)	-42.89%	-4.54%	-12.01%	34.69%	15.98%	-5.58%	-21.17%	-28.26%	15.46%	-50.34%	-20.02%
Operating Return on Assets (OROA)	6.90%	3.03%	4.35%	6.53%	4.77%	3.43%	2.40%	4.74%	4.36%	-0.27%	-0.11%
Return on Assets (ROA)	4.63%	1.33%	1.82%	4.50%	3.22%	2.45%	1.58%	3.64%	3.47%	-0.61%	-1.28%
Return on Common Equity (ROCE)	21.74%	7.42%	10.29%	20.12%	11.98%	7.93%	4.59%	11.37%	9.06%	-1.36%	-2.92%
Return on Equity Simple (ROE_SIMPLE)	21.16%	7.38%	9.98%	19.78%	11.96%	9.38%	6.10%	15.38%	14.21%	-2.77%	0.00%
Net Operating Profit after Tax (NOPAT)	193	74	187	289	198	224	141	283	387	-21	30
NOPAT Margin	5.55%	2.60%	5.53%	7.72%	6.19%	6.43%	2.67%	3.79%	5.09%	-0.35%	0.54%
Net Nonoperating Expense Percent (NNEP)	2.76%	0.79%	6.45%	4.21%	5.16%	18.35%	5.38%	-1.15%	2.15%	4.12%	-1,057.59%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-0.24%	0.46%
Cost of Revenue to Revenue	83.37%	85.38%	81.19%	79.30%	77.55%	80.15%	82.77%	83.09%	83.19%	83.33%	81.66%
SG&A Expenses to Revenue	9.16%	12.24%	11.42%	6.55%	7.59%	6.49%	5.85%	4.58%	5.79%	8.60%	10.40%
R&D to Revenue	0.49%	0.61%	0.85%	1.18%	1.47%	1.30%	1.11%	0.93%	1.32%	2.02%	1.62%
Operating Expenses to Revenue	9.50%	11.36%	10.86%	10.96%	14.36%	13.50%	13.62%	12.15%	10.86%	17.18%	17.57%
Earnings before Interest and Taxes (EBIT)	258	149	246	352	247	206	167	389	456	-35	-16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	353	245	345	481	407	415	450	624	763	467	539
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.95	0.77	0.94	0.68	0.94	1.94	1.04	1.02	0.66	0.26	0.57
Price to Tangible Book Value (P/TBV)	2.18	0.78	0.96	0.69	0.95	1.97	1.05	1.03	0.67	0.26	0.57
Price to Revenue (P/Rev)	0.46	0.24	0.29	0.22	0.41	0.88	0.35	0.26	0.22	0.12	0.28
Price to Earnings (P/E)	9.30	10.45	9.79	3.54	7.62	20.74	19.65	8.24	6.17	20.41	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	10.76%	9.57%	10.21%	28.26%	13.12%	4.82%	5.09%	12.13%	16.21%	4.90%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.44	0.96	0.98	0.82	0.96	1.66	1.03	1.01	0.78	0.69	0.74
Enterprise Value to Revenue (EV/Rev)	0.78	0.69	0.73	0.44	0.57	1.07	0.57	0.57	0.41	0.76	0.61
Enterprise Value to EBITDA (EV/EBITDA)	7.71	8.08	7.16	3.43	4.50	8.97	6.69	6.86	4.09	9.78	6.37
Enterprise Value to EBIT (EV/EBIT)	10.52	13.29	10.06	4.69	7.41	18.09	18.03	10.99	6.84	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	14.12	26.69	13.18	5.71	9.23	16.63	21.33	15.12	8.06	0.00	113.73
Enterprise Value to Operating Cash Flow (EV/OCF)	6.57	0.00	12.11	7.63	3.05	0.00	0.00	4.67	4.56	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.09	5.83	0.00	0.00	0.00	4.92	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.86	2.94	2.89	1.43	1.29	1.09	1.10	1.74	0.93	1.20	0.61
Long-Term Debt to Equity	0.90	0.69	0.50	0.31	0.43	0.35	0.35	0.46	0.45	0.69	0.05
Financial Leverage	0.89	1.28	1.34	0.95	0.46	0.25	0.29	0.62	0.37	0.35	0.00
Leverage Ratio	4.78	5.67	5.77	4.62	3.84	3.62	3.46	3.71	3.48	3.23	3.41
Compound Leverage Factor	4.14	3.34	3.16	3.92	2.79	2.37	2.87	3.39	3.12	7.66	29.94
Debt to Total Capital	74.11%	74.64%	74.28%	58.78%	56.34%	52.24%	52.40%	63.47%	48.29%	54.55%	37.71%
Short-Term Debt to Total Capital	50.69%	57.19%	61.40%	46.03%	37.36%	35.35%	35.65%	46.51%	25.19%	23.03%	34.86%
Long-Term Debt to Total Capital	23.43%	17.45%	12.88%	12.75%	18.98%	16.89%	16.75%	16.96%	23.10%	31.52%	2.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.42%	0.41%	0.67%	1.53%	0.98%	8.13%	7.28%	5.78%	15.99%	14.61%	21.33%
Common Equity to Total Capital	25.47%	24.94%	25.05%	39.69%	42.68%	39.63%	40.31%	30.75%	35.72%	30.84%	40.97%
Debt to EBITDA	6.76	10.83	8.88	3.77	4.52	4.99	5.21	6.43	4.53	10.67	4.79
Net Debt to EBITDA	3.14	5.24	4.26	1.59	1.21	0.86	1.81	3.10	0.37	5.34	0.71
Long-Term Debt to EBITDA	2.14	2.53	1.54	0.82	1.52	1.61	1.66	1.72	2.17	6.17	0.36
Debt to NOPAT	12.38	35.74	16.34	6.28	9.27	9.26	16.59	14.17	8.93	-236.52	85.55
Net Debt to NOPAT	5.75	17.29	7.83	2.64	2.47	1.59	5.75	6.84	0.74	-118.46	12.67
Long-Term Debt to NOPAT	3.91	8.36	2.83	1.36	3.12	2.99	5.30	3.79	4.27	-136.68	6.47
Altman Z-Score	1.21	0.80	0.92	1.35	1.17	1.34	1.32	1.39	1.10	0.69	0.60
Noncontrolling Interest Sharing Ratio	1.85%	1.63%	2.16%	3.21%	2.94%	10.68%	16.12%	15.57%	25.13%	31.58%	33.21%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.85	1.02	0.99	1.04	1.05	1.17	1.18	1.07	1.04	1.09	1.02
Quick Ratio	0.41	0.25	0.23	0.33	0.37	0.45	0.40	0.39	0.51	0.55	0.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-635	-90	-275	788	314	-116	-548	-1,012	635	-2,672	-839
Operating Cash Flow to CapEx	456.13%	-96.98%	73.62%	68.38%	206.09%	-36.01%	-99.53%	147.93%	61.89%	-79.56%	-27.60%
Free Cash Flow to Firm to Interest Expense	-11.72	-1.29	-2.33	7.43	3.86	-1.61	-9.43	-13.63	5.56	-19.44	-4.71
Operating Cash Flow to Interest Expense	7.64	-3.99	1.73	2.04	7.38	-1.68	-7.02	12.34	6.00	-6.44	-1.42
Operating Cash Flow Less CapEx to Interest Expense	5.96	-8.10	-0.62	-0.94	3.80	-6.34	-14.07	4.00	-3.69	-14.54	-6.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.58	0.60	0.69	0.62	0.58	0.76	0.91	0.73	0.47	0.39
Accounts Receivable Turnover	7.39	5.93	8.39	8.32	6.41	7.50	8.76	8.12	7.17	5.18	4.78
Inventory Turnover	6.84	7.05	7.52	8.41	5.51	3.77	3.80	3.88	4.02	3.69	3.41
Fixed Asset Turnover	9.86	7.19	5.61	4.59	3.31	3.16	4.12	4.63	3.10	1.91	1.71
Accounts Payable Turnover	4.43	3.37	3.91	3.89	2.69	2.70	3.98	4.39	3.31	2.37	2.47
Days Sales Outstanding (DSO)	49.36	61.56	43.50	43.89	56.92	48.64	41.67	44.94	50.92	70.45	76.42
Days Inventory Outstanding (DIO)	53.40	51.78	48.54	43.42	66.25	96.94	95.95	93.99	90.80	98.83	107.15
Days Payable Outstanding (DPO)	82.42	108.34	93.34	93.95	135.76	135.31	91.71	83.21	110.41	154.22	147.99
Cash Conversion Cycle (CCC)	20.34	5.00	-1.30	-6.64	-12.59	10.27	45.91	55.72	31.31	15.06	35.58
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,894	2,058	2,520	2,021	1,906	2,245	2,935	4,230	3,982	6,633	4,624
Invested Capital Turnover	2.34	1.44	1.48	1.65	1.63	1.68	2.04	2.09	1.85	1.13	1.34
Increase / (Decrease) in Invested Capital	827	164	462	-499	-115	340	689	1,295	-248	2,651	869
Enterprise Value (EV)	2,719	1,977	2,470	1,650	1,830	3,720	3,009	4,276	3,123	4,564	3,436
Market Capitalization	1,597	682	975	839	1,308	3,042	1,872	1,978	1,692	736	1,592
Book Value per Share	$14.85	$15.81	$17.85	$20.95	$23.54	$26.45	$30.11	$30.33	$39.67	$42.56	$41.94
Tangible Book Value per Share	$13.28	$15.52	$17.55	$20.68	$23.16	$26.07	$29.79	$30.05	$39.37	$42.09	$41.46
Total Capital	3,216	3,547	4,121	3,088	3,264	3,963	4,468	6,315	7,165	9,130	6,854
Total Debt	2,383	2,647	3,061	1,815	1,839	2,070	2,341	4,008	3,460	4,980	2,584
Total Long-Term Debt	753	619	531	394	619	669	748	1,071	1,655	2,878	195
Net Debt	1,108	1,280	1,468	763	490	355	812	1,933	285	2,494	383
Capital Expenditures (CapEx)	91	287	277	316	291	335	410	620	1,106	1,113	916
Debt-free, Cash-free Net Working Capital (DFCFNWC)	150	1,099	1,328	622	185	361	896	1,364	-902	348	605
Debt-free Net Working Capital (DFNWC)	1,238	2,098	2,508	1,547	1,380	1,999	2,327	3,323	2,036	2,600	2,518
Net Working Capital (NWC)	-392	70	-23	126	161	597	734	386	231	498	128
Net Nonoperating Expense (NNE)	19	8.78	84	47	32	76	31	-16	24	57	214
Net Nonoperating Obligations (NNO)	1,061	1,158	1,460	748	481	352	808	1,923	277	2,483	354
Total Depreciation and Amortization (D&A)	94	96	99	129	160	209	283	235	307	501	555
Debt-free, Cash-free Net Working Capital to Revenue	4.32%	38.53%	39.18%	16.61%	5.77%	10.40%	16.98%	18.26%	-11.85%	5.80%	10.82%
Debt-free Net Working Capital to Revenue	35.69%	73.53%	73.96%	41.32%	43.12%	57.49%	44.09%	44.49%	26.74%	43.39%	44.99%
Net Working Capital to Revenue	-11.31%	2.44%	-0.67%	3.36%	5.03%	17.19%	13.90%	5.17%	3.03%	8.31%	2.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.08	$1.13	$1.71	$4.02	$2.88	$2.46	$0.00	$3.73	$4.19	$0.54	($2.50)
Adjusted Weighted Average Basic Shares Outstanding	55.73M	57.52M	58.17M	58.91M	59.63M	59.58M	0.00	64.32M	65.38M	66.62M	67.37M
Adjusted Diluted Earnings per Share	$2.93	$1.12	$1.69	$3.88	$2.83	$2.38	$0.00	$3.44	$3.87	$0.54	($2.50)
Adjusted Weighted Average Diluted Shares Outstanding	60.43M	58.06M	61.55M	62.29M	60.78M	62.31M	0.00	71.18M	72.19M	66.94M	67.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.97M	57.83M	58.50M	59.18M	59.37M	59.82M	0.00	64.51M	66.16M	66.95M	67.81M
Normalized Net Operating Profit after Tax (NOPAT)	193	74	187	289	198	154	141	283	387	-21	30
Normalized NOPAT Margin	5.55%	2.60%	5.53%	7.72%	6.19%	4.44%	2.67%	3.79%	5.09%	-0.35%	0.54%
Pre Tax Income Margin	6.44%	3.07%	3.97%	7.97%	5.61%	3.87%	2.62%	4.77%	5.37%	-1.37%	-2.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.77	2.13	2.08	3.32	3.04	2.86	2.87	5.24	4.00	-0.25	-0.09
NOPAT to Interest Expense	3.56	1.06	1.59	2.73	2.44	3.11	2.43	3.81	3.39	-0.15	0.17
EBIT Less CapEx to Interest Expense	3.10	-1.98	-0.27	0.34	-0.54	-1.80	-4.18	-3.10	-5.69	-8.35	-5.23
NOPAT Less CapEx to Interest Expense	1.88	-3.05	-0.76	-0.26	-1.14	-1.55	-4.63	-4.54	-6.30	-8.25	-4.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.71%	0.00%	0.00%	2.72%	8.51%	0.00%	9.76%	0.00%	1.49%	-35.46%	-14.70%
Augmented Payout Ratio	0.71%	0.70%	0.00%	2.72%	15.62%	4.05%	9.76%	0.00%	12.22%	-137.67%	-52.87%

No quarterly metrics and ratios for Canadian Solar are available.

Financials Breakdown Chart

Frequently Asked Questions About Canadian Solar's Financials

When does Canadian Solar's financial year end?

According to the most recent income statement we have on file, Canadian Solar's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Canadian Solar's net income changed over the last 10 years?

Canadian Solar's net income appears to be on a downward trend, with a most recent value of -$183.76 million in 2025, falling from $173.32 million in 2015. The previous period was -$77.86 million in 2024. Check out Canadian Solar's forecast to explore projected trends and price targets.

What is Canadian Solar's operating income?

Canadian Solar's total operating income in 2025 was $43.16 million, based on the following breakdown:

Total Gross Profit: $1.03 billion
Total Operating Expenses: $983.07 million

How has Canadian Solar's revenue changed over the last 10 years?

Over the last 10 years, Canadian Solar's total revenue changed from $3.47 billion in 2015 to $5.60 billion in 2025, a change of 61.4%.

How much debt does Canadian Solar have?

Canadian Solar's total liabilities were at $10.90 billion at the end of 2025, a 16.5% increase from 2024, and a 204.4% increase since 2015.

How much cash does Canadian Solar have?

In the past 10 years, Canadian Solar's cash and equivalents has ranged from $444.30 million in 2018 to $1.94 billion in 2023, and is currently $1.37 billion as of their latest financial filing in 2025.

How has Canadian Solar's book value per share changed over the last 10 years?

Over the last 10 years, Canadian Solar's book value per share changed from 14.85 in 2015 to 41.94 in 2025, a change of 182.5%.

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Financial statements for NASDAQ:CSIQ last updated on 4/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Canadian Solar (CSIQ) Financials

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Canadian Solar (CSIQ) Financials

Annual Income Statements for Canadian Solar

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