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Canadian Solar Income Statement 2025-2008 | CSIQ
Brief overview of financial performance at Canadian Solar
The conclusions below are based on five years of reported results. Canadian Solar reported revenue of $10.8 million in 2020 and $5.6 billion by 2025. The cumulative result was +51807.5%, corresponding to roughly 249.2% per year. Sales grew at a rate typical of a strong expansion phase.
The five-year change in gross profit reached +48.7%: from 690 million dollars to 1 billion dollars. Revenue outpaced cost of revenue, allowing more sales to flow into gross profit. Comparing the endpoints gives gross margins of 6400.5% and 18.3%. The margin decline reflects a less favorable sales-and-cost structure.
The operating result measured by EBITDA moved from 430 million dollars to 598 million dollars, or +39.3%. Operating performance weakened relative to revenue. The EBITDA share of revenue changed from 3985% to 10.7%. The margin contraction indicates weaker operating efficiency.
The net financial result changed from $147 million to −$104 million. Profit turned into a loss, the most concerning signal in the results.
Market capitalization changed from $3.2 billion to $679 million (−78.9%). Investors remain cautious despite better financial results.
Summary assessment
The indicators point to a weaker financial profile. The strongest signals are sales growth. The most visible risks are a weaker final result, a declining EBITDA margin and a weaker market valuation. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Canadian Solar
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
679 M | 1.32 B | 2.65 B | 2.07 B | 1.66 B | 3.22 B | 1.19 B | 1.23 B | 908 M | 676 M | 1.12 B | 1.11 B | 1.85 B | 191 M | 178 M | 508 M | 507 M | - |
Shares |
67.4 M | 66.6 M | 65.4 M | 64.3 M | 61.6 M | 59.6 M | 59.6 M | 58.9 M | 58.2 M | 57.5 M | 55.7 M | 54.4 M | 46.3 M | 43.2 M | 43.1 M | 42.8 M | 37.1 M | - |
Historical Prices |
10.1 | 19.9 | 40.5 | 32.2 | 28 | 54.8 | 20.1 | 21.6 | 15.4 | 11.7 | 20.2 | 20.4 | 39.1 | 4.45 | 3.82 | 11.9 | 13.6 | 41 |
Net Income |
-104 M | 36.1 M | 274 M | 299 M | 110 M | 147 M | 167 M | 237 M | 99.6 M | 65.2 M | 172 M | 240 M | 31.7 M | -195 M | -90.8 M | 50.8 M | 22.8 M | - |
Revenue |
5.6 B | 5.99 B | 7.61 B | 7.47 B | 7.26 M | 10.8 M | 28.9 M | 3.74 B | 3.39 B | 2.85 B | 3.47 B | 2.96 B | 1.65 B | 1.29 B | 1.9 B | - | - | - |
Cost of Revenue |
4.57 B | 4.99 B | 6.33 B | 6.21 B | 4.37 B | 2.79 B | 2.48 B | 2.97 B | 2.75 B | 2.44 B | 2.89 B | 2.38 B | 1.38 B | 1.2 B | 1.72 B | 1.27 B | 553 M | - |
Gross Profit |
1.03 B | 999 M | 1.28 B | 1.26 B | 909 M | 690 M | 718 M | 775 M | 638 M | 417 M | 577 M | 581 M | 276 M | 90.4 M | 182 M | 229 M | 78.1 M | - |
Operating Income |
43.2 M | -30.1 M | 453 M | 356 M | 190 M | 220 M | 259 M | 365 M | 269 M | 93.2 M | 247 M | 366 M | 131 M | -143 M | 6.83 M | 120 M | 6.51 M | - |
Interest Expense |
- | - | 114 M | 74.3 M | 58.2 M | 71.9 M | 81.3 M | 106 M | 118 M | 69.7 M | 54.1 M | 48.9 M | 46.2 M | 53.3 M | 43.8 M | 22.2 M | 9.46 M | - |
EBITDA |
598 M | 471 M | 760 M | 591 M | 473 M | 430 M | 419 M | 460 M | 328 M | 149 M | 342 M | 449 M | 212 M | -61.1 M | 63 M | 152 M | 27 M | - |
Operating Expenses |
983 M | 1.03 B | 827 M | 907 M | 719 M | 469 M | 460 M | 444 M | 409 M | 364 M | 329 M | 215 M | 145 M | 233 M | 175 M | 108 M | 71.6 M | - |
General and Administrative Expenses |
582 M | 515 M | 440 M | 342 M | 309 M | 226 M | 243 M | 245 M | 231 M | 204 M | 163 M | 76.8 M | 44.8 M | 129 M | 86.3 M | 54.5 M | 46.3 M | - |
All numbers in USD currency
Quarterly Income Statement Canadian Solar
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2009-Q4 | 2008-Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
67.4 M | 66.6 M | 65.4 M | - | - | - | - | 64 M | - | - | - | 59.8 M | - | - | - | 59.4 M | - | - | - | 59.2 M | - | - | - | 58.5 M | - | - | - | 57.8 M | - | - | - | 56 M | - | - | - | 55.2 M | - | - | - | 51 M | - | - | - | 43.2 M | - | - | - | 43.2 M | - | - | - | 42.8 M | 37.1 M | - |
Net Income |
-104 M | 36.1 M | 274 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 50.8 M | 22.8 M | - |
Revenue |
5.6 B | 5.99 B | 7.61 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
4.57 B | 4.99 B | 6.33 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.27 B | 553 M | - |
Gross Profit |
1.03 B | 999 M | 1.28 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 229 M | 78.1 M | - |
Operating Income |
43.2 M | -30.1 M | 453 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 120 M | 6.51 M | - |
Interest Expense |
- | - | 114 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 22.2 M | 9.46 M | - |
EBITDA |
598 M | 471 M | 760 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 152 M | 27 M | - |
Operating Expenses |
983 M | 1.03 B | 827 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 108 M | 71.6 M | - |
General and Administrative Expenses |
582 M | 515 M | 440 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 54.5 M | 46.3 M | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Canadian Solar (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
Reports on the profits and losses of other stocks in the Solar industry
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Maxeon Solar Technologies, Ltd.
MAXN
|
- | - | $ 4.86 M |  Singapore |
 |
Sunnova Energy International
NOVA
|
- | - | $ 27.3 M |  USA |
 |
First Solar
FSLR
|
$ 204.46 | 2.02 % | $ 21.9 B | USA |
 |
SPI Energy Co., Ltd.
SPI
|
- | -12.26 % | $ 19.9 M |  China |
 |
JinkoSolar Holding Co., Ltd.
JKS
|
$ 13.54 | 0.3 % | $ 2.82 B | China |
 |
Sunworks
SUNW
|
- | -40.48 % | $ 1.97 M | USA |
 |
Array Technologies
ARRY
|
$ 4.59 | 0.54 % | $ 700 M | USA |
 |
SolarEdge Technologies
SEDG
|
$ 31.41 | 1.3 % | $ 1.85 B |  Israel |
 |
Shoals Technologies Group
SHLS
|
$ 7.14 | 1.5 % | $ 1.19 B | USA |
 |
Sunrun
RUN
|
$ 8.78 | 0.38 % | $ 2.02 B | USA |
 |
SunPower Corporation
SPWR
|
$ 0.29 | 0.3 % | $ 50.4 M | USA |
 |
Enphase Energy
ENPH
|
$ 37.25 | 2.17 % | $ 4.89 B | USA |
 |
Beam Global
BEEM
|
$ 1.47 | 25.74 % | $ 24.7 K | USA |