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Canadian Solar
(NASDAQ:CSIQ)
Canadian Solar (CSIQ) vs. SPDR S&P 500 ETF (SPY)
Canadian Solar Business Overview & Revenue Model
Canadian Solar Key Performance Indicators (KPIs)
Reveals the profitability of each business segment, indicating where the company is most efficient and where there may be cost management challenges.
The FlyCanadian Solar Earnings Call Summary
Canadian Solar Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.90B | 5.99B | 7.61B | 7.47B | 5.28B | 3.48B |
| Gross Profit | 1.12B | 999.32M | 1.28B | 1.26B | 909.31M | 689.91M |
| EBITDA | 135.11M | 556.61M | 829.66M | 675.15M | 479.39M | 423.51M |
| Net Income | 16.11M | 36.05M | 274.19M | 239.97M | 95.25M | 146.70M |
Balance Sheet | ||||||
| Total Assets | 15.16B | 13.51B | 11.90B | 9.04B | 7.39B | 6.54B |
| Cash, Cash Equivalents and Short-Term Investments | 1.76B | 2.25B | 1.96B | 981.43M | 869.83M | 1.64B |
| Total Debt | 7.40B | 5.91B | 4.48B | 4.04B | 3.26B | 2.89B |
| Total Liabilities | 10.80B | 9.36B | 8.19B | 6.73B | 5.26B | 4.64B |
| Stockholders Equity | 2.87B | 2.82B | 2.56B | 1.94B | 1.80B | 1.57B |
Cash Flow | ||||||
| Free Cash Flow | -1.51B | -2.76B | -840.85M | 288.63M | -837.75M | -455.48M |
| Operating Cash Flow | 102.77M | -885.32M | 684.62M | 916.63M | -408.25M | -120.54M |
| Investing Cash Flow | -1.84B | -1.96B | -1.67B | -630.49M | -429.57M | -319.66M |
| Financing Cash Flow | 1.24B | 2.32B | 2.05B | 428.64M | 614.07M | 823.50M |
Canadian Solar Technical Analysis
Canadian Solar Risk Analysis
Canadian Solar Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $28.84B | 18.51 | 16.86% | ― | 31.16% | 11.97% | |
64 Neutral | $4.54B | 24.52 | 20.31% | ― | 20.97% | 226.98% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $1.43B | -2.94 | -17.96% | 10.19% | -34.29% | -732.90% | |
61 Neutral | $1.38B | -14.52 | -7.75% | ― | 35.75% | 37.97% | |
49 Neutral | $1.84B | ― | -78.09% | ― | -0.14% | 66.71% | |
45 Neutral | $1.47B | 81.10 | 0.56% | ― | -4.46% | 1645.26% |
Canadian Solar Corporate Events
On January 9, 2026, Canadian Solar priced a private offering of US$200 million aggregate principal amount of convertible senior notes due 2031 to qualified institutional buyers under Rule 144A, with an option for initial purchasers to buy up to an additional US$30 million, and expects to close the transaction around January 13, 2026, subject to customary conditions. The company plans to use the roughly US$194.6 million in estimated net proceeds to fund U.S. manufacturing investments and expand its battery energy storage and solar value chain, as well as for working capital and general corporate purposes, underscoring its push to deepen its North American manufacturing footprint and strengthen its position across the solar and storage supply chain; the notes will carry a 3.25% coupon, mature in 2031, be convertible at a premium to the latest share price, and include standard redemption and repurchase features that balance financing flexibility for the company with downside protection for noteholders.
The most recent analyst rating on (CSIQ) stock is a Sell with a $21.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
In a Form 6-K filed on January 7, 2026, Canadian Solar reported selected unaudited financial results for the nine months ended September 30, 2025, showing net revenues of $4.38 billion, down slightly from $4.47 billion a year earlier, and a swing to a net loss attributable to the company of $17.8 million from a modest profit of $2.1 million in the prior-year period. While overall gross profit and gross margin improved to $901.8 million and 20.6%, respectively, higher general and administrative expenses, increased interest costs, and losses related to derivatives and foreign exchange weighed on the bottom line, with income before taxes turning negative and net income pressured despite stronger contributions from the Recurrent Energy segment; the filing underscores ongoing margin and financing challenges in a competitive solar and storage market even as the company continues to expand its project development business.
The most recent analyst rating on (CSIQ) stock is a Sell with a $21.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On January 7, 2026, Canadian Solar Inc. announced a proposed private offering of US$200 million in convertible senior notes due 2031, with an additional US$30 million overallotment option for initial purchasers. The senior unsecured notes, to be sold to qualified institutional buyers under Rule 144A, will pay semi-annual interest and mature on January 15, 2031, unless earlier repurchased, redeemed or converted into Canadian Solar common shares at a conversion rate to be set at pricing. The company plans to deploy the proceeds to expand U.S. manufacturing capacity and invest across the value chain supporting its solar and battery energy storage solutions, as well as for working capital and general corporate purposes, a move that underscores its strategy to deepen its North American manufacturing footprint and reinforce its position in the rapidly growing solar and storage markets. The notes include standard features such as issuer redemption rights after January 22, 2029 subject to share price triggers, tax-related redemption provisions, and holder put rights upon certain fundamental changes, while remaining unregistered under U.S. securities laws and restricted to private placements.
The most recent analyst rating on (CSIQ) stock is a Sell with a $21.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On December 24, 2025, Canadian Solar Inc. announced a leadership reshuffle, appointing long-time executive Colin Parkin to its Board of Directors and promoting him to President, succeeding founder Dr. Shawn Qu in that role, while Qu remains Chairman and Chief Executive Officer. At the same time, the company named Dylan Marx as Chief Operating Officer, with both executives bringing about three decades of combined experience within Canadian Solar and its affiliates, a move the board framed as strengthening internal succession, operational cohesion, and execution across its global operations as it expands manufacturing and investments in North America and approaches its 25th anniversary in 2026.
The most recent analyst rating on (CSIQ) stock is a Sell with a $21.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On December 1, 2025, Canadian Solar Inc. announced a strategic initiative to resume direct oversight of its U.S. operations and to continue reshoring manufacturing to North America. The company will form new joint ventures with American shareholders and its subsidiary, CSI Solar Co., Ltd., holding a 75.1% controlling stake in CS PowerTech to operate U.S.-based manufacturing and sales. This initiative aims to create thousands of American manufacturing jobs and strengthen the domestic supply chain, reflecting Canadian Solar’s commitment to its North American base and enhancing its industry positioning.
The most recent analyst rating on (CSIQ) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On November 13, 2025, Canadian Solar Inc. announced its financial results for the third quarter of 2025, reporting net revenues of $1.5 billion, which was at the high end of their guidance. The company achieved a gross margin of 17.2%, surpassing expectations, driven by strong battery energy storage shipments and a strategic focus on profitable markets. Canadian Solar’s e-STORAGE division recorded a backlog increase to $3.1 billion, indicating robust future growth prospects. The company is also advancing its U.S. manufacturing facilities, with solar cell production in Indiana and lithium battery energy storage production in Kentucky expected to commence in 2026. Despite a decrease in total module shipments, the company maintained profitability through strategic project sales and disciplined financial management.
The most recent analyst rating on (CSIQ) stock is a Sell with a $5.58 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On October 30, 2025, Canadian Solar’s subsidiary, CSI Solar, released its third-quarter financial report for 2025, showing a decrease in operating revenue and profits compared to the previous year. The decline was attributed to lower average selling prices and increased tariffs and freight costs, although there was growth in energy storage revenue and a reduction in manufacturing costs. Despite these challenges, the company reported a significant increase in net cash flow from operating activities due to improved sales receipts and optimized inventory management.
The most recent analyst rating on (CSIQ) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.
On October 21, 2025, Canadian Solar’s subsidiary, Recurrent Energy, announced the closure of $825 million in project financing for its Desert Bloom Storage and Papago Solar facilities in Maricopa County, Arizona. These projects, part of a partnership with Arizona Public Service, include a 600 MWh energy storage facility and a 150 MWac solar power plant, expected to be operational by the first half of 2026. This financing underscores Recurrent Energy’s commitment to enhancing Arizona’s grid reliability and supporting the state’s economic growth through renewable energy infrastructure.
The most recent analyst rating on (CSIQ) stock is a Sell with a $11.00 price target. To see the full list of analyst forecasts on Canadian Solar stock, see the CSIQ Stock Forecast page.