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Canadian Solar Inc. (CSIQ) stock

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NASDAQ: CSIQ Nasdaq Semiconductors Next results ~November 12, 2026

C Fundamentals grade

Canadian Solar Inc. is a US-listed company in the semiconductors industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$15

Valuation models combined (2)

Base case. Range ~$12–$18. Weighted average of 2 models (residual income, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Canadian Solar Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds94 adding, 55 cuttingOf 29 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Canadian Solar files

Where Canadian Solar stands after its latest Filing

Revenue for the twelve months was $5.60bn, down 6.6% on a year earlier, a smaller fall than the 21.3% decline a quarter earlier. That puts it 64 of 75 for growth among the semiconductor companies we cover. Free-cash-flow margin fell to -21.7% from -15.9% a year earlier. Operating margin narrowed to 0.8% from 3.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks. Our valuation models combined value is $14.45 a share, against a share price of $9.26.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Canadian Solar Inc.'s trailing-twelve-month revenue fell 6.6% year on year, with a free-cash-flow margin of -21.7%. Where it stands out: stock pay as % of revenue of 0.4% ranks 9 of 74 semiconductor companies we cover. Where it lags: long-term debt as % of assets of 39.6% ranks 43 of 47 semiconductor companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to -6.6% (+14.6pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Canadian Solar Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 6.6% over the last 12 months.
  • Burning cash. Free cash flow was -21.7% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 88% and a beta of 2.6 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 39.6% ranks 43 of 47 semiconductor companies we cover (median 14.0%).
  • Below peers: gross margin. Gross margin of 18.3% ranks 65 of 73 semiconductor companies we cover (median 48.3%).
  • Heavily shorted. 36.3% of the shares available to trade are sold short (10.9 days of average volume to cover).

Latest results

Earnings per share
-$1.01 against an average estimate of -$1.23: beat by 17.9%
Next report
November 12, 2026; average EPS estimate -$0.87

Canadian Solar's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+8.2%
  • 1 week+5.3%
  • 1 month-9.0%
  • This year-60.4%
  • 1 year-55.3%
  • 5 years-74.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.6B
Operating margin
0.8%
Net margin
-1.9%
EPS (TTM, diluted)
$-1.55

Growth

Revenue growth
−6.6%
Change in growth rate
+14.6 pts
Share count change
+0.6%

Cash

Free cash flow (TTM)
-$1.2B
FCF margin
-21.7%
Stock pay % of revenue
0.4%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for CSIQ from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Canadian Solar Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Canadian Solar Inc. as an operating company, with every model that fits that kind of business. Cost of equity 12%: the 10-year Treasury yield (4.9%) plus a beta of 1.56 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$18 ~$12–$27 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$12 ~$11–$14 Included
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$130 ~$190–$860 Left out: out of range vs price (13.40x)
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$15 ~$12–$18 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Canadian Solar Inc. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$28.96$12.18$16.86$14.34$22.10$51.24$31.29$30.90$26.23$11.12$23.77
Market value$1.7bn$707m$1.0bn$893m$1.3bn$3.2bn$2.2bn$2.2bn$1.9bn$744m$1.6bn
+ Net debt (− = net cash)$1.2bn$2.3bn$2.6bn$1.4bn$1.3bn$958m$2.1bn$2.7bn$2.9bn$4.8bn$7.0bn
Enterprise value$3.0bn$3.0bn$3.6bn$2.3bn$2.6bn$4.2bn$4.2bn$4.9bn$4.8bn$5.5bn$8.6bn
Multiples
Price / sales 0.5x0.2x0.3x0.2x0.4x0.9x0.4x0.3x0.2x0.1x0.3x
Price / earnings 10.2x10.8x10.4x3.8x7.8x21.8x22.6x9.2x6.9x20.6x—
Price / free cash flow 5.4x——————7.6x———
EV / EBITDA 8.7x15.8x9.8x4.7x6.3x9.7x8.9x8.3x6.4x11.7x14.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $1.4bn and EPS of −$0.87 (range −$0.87 to −$0.87) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.78 — $5.4bn −4%
Next −$0.09 +97% $6.8bn +26%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.3% on 90 days ago. In the last 30 days, 0 analysts raised Canadian Solar Inc.'s forecast and 1 cut it.

Consensus EPS forecast Canadian Solar Inc., last 90 days
−$6.00 −$4.00 −$2.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$2.48 Current fiscal year, 60 days ago: −$2.48 Current fiscal year, 30 days ago: −$4.40 Current fiscal year, 7 days ago: −$4.40 Current fiscal year, Now: −$2.78 −$2.78 Next fiscal year, 90 days ago: −$0.44 Next fiscal year, 60 days ago: −$0.44 Next fiscal year, 30 days ago: −$3.07 Next fiscal year, 7 days ago: −$3.07 Next fiscal year, Now: −$0.09 −$0.09

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$2.48−$0.44
60 days ago −$2.48−$0.44
30 days ago −$4.40−$3.07
7 days ago −$4.40−$3.07
Now −$2.78−$0.09

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$1.23 −$1.01 +17.9%
Mar 2026 −$0.78 −$1.84 −136.9%
Sept 2025 −$0.76 −$0.58 +24.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

12 analysts, Oct 2026
Buy433%
Hold650%
Sell217%

Monthly trend

  1. Oct 20261361112
  2. Sep 20261361112
  3. Aug 20261361112
  4. Jul 20261361112

Counts of recommendations published by analysts covering Canadian Solar Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
36.3%
of tradable shares
Days to cover
10.9
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
66%
of shares
Held by insiders
29.8%
of shares
Employees
12,587
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CSIQ−39%−1%−15%−58%+114%−60%
Industry peers (median)+36%−39%+16%−9%+16%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CSIQ33%50%42%25%58%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CSIQ−53%−41%−56%−59%−49%−65%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 90% from January 21, 2021 to April 8, 2025. Getting back needed a 849% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$8.85 – $33.58
From 52-week high
−72.0%
vs 50-day average
−17.9%
vs 200-day average
−38.6%
Volatility (1 year)
88%
Beta vs S&P 500
2.65

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Canadian Solar Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Canadian Solar Inc.
$2B $4B $6B $8B FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $3B Revenue (TTM), FY15 Q4: $3.5B Revenue (TTM), FY16 Q4: $2.9B Revenue (TTM), FY17 Q4: $3.4B Revenue (TTM), FY18 Q4: $3.7B Revenue (TTM), FY19 Q4: $3.2B Revenue (TTM), FY20 Q4: $3.5B Revenue (TTM), FY21 Q4: $5.3B Revenue (TTM), FY22 Q4: $7.5B Revenue (TTM), FY23 Q4: $7.6B Revenue (TTM), FY24 Q4: $6B Revenue (TTM), FY25 Q4: $5.6B $5.6B

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $3B
FY15 Q4 $3.5B
FY16 Q4 $2.9B
FY17 Q4 $3.4B
FY18 Q4 $3.7B
FY19 Q4 $3.2B
FY20 Q4 $3.5B
FY21 Q4 $5.3B
FY22 Q4 $7.5B
FY23 Q4 $7.6B
FY24 Q4 $6B
FY25 Q4 $5.6B
Revenue growth, TTM YoY Canadian Solar Inc.
-50% 0% 50% 100% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 79.0% Revenue growth, TTM YoY, FY15 Q4: 17.1% Revenue growth, TTM YoY, FY16 Q4: -17.7% Revenue growth, TTM YoY, FY17 Q4: 18.8% Revenue growth, TTM YoY, FY18 Q4: 10.4% Revenue growth, TTM YoY, FY19 Q4: -14.5% Revenue growth, TTM YoY, FY20 Q4: 8.6% Revenue growth, TTM YoY, FY21 Q4: 51.8% Revenue growth, TTM YoY, FY22 Q4: 41.5% Revenue growth, TTM YoY, FY23 Q4: 1.9% Revenue growth, TTM YoY, FY24 Q4: -21.3% Revenue growth, TTM YoY, FY25 Q4: -6.6% -6.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 79.0%
FY15 Q4 17.1%
FY16 Q4 -17.7%
FY17 Q4 18.8%
FY18 Q4 10.4%
FY19 Q4 -14.5%
FY20 Q4 8.6%
FY21 Q4 51.8%
FY22 Q4 41.5%
FY23 Q4 1.9%
FY24 Q4 -21.3%
FY25 Q4 -6.6%
Operating margin (TTM) Canadian Solar Inc.
-5% 0% 5% 10% 15% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 12.4% Operating margin (TTM), FY15 Q4: 7.1% Operating margin (TTM), FY16 Q4: 3.3% Operating margin (TTM), FY17 Q4: 7.9% Operating margin (TTM), FY18 Q4: 9.7% Operating margin (TTM), FY19 Q4: 8.1% Operating margin (TTM), FY20 Q4: 6.3% Operating margin (TTM), FY21 Q4: 3.6% Operating margin (TTM), FY22 Q4: 4.8% Operating margin (TTM), FY23 Q4: 6.0% Operating margin (TTM), FY24 Q4: -0.5% Operating margin (TTM), FY25 Q4: 0.8% 0.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 12.4%
FY15 Q4 7.1%
FY16 Q4 3.3%
FY17 Q4 7.9%
FY18 Q4 9.7%
FY19 Q4 8.1%
FY20 Q4 6.3%
FY21 Q4 3.6%
FY22 Q4 4.8%
FY23 Q4 6.0%
FY24 Q4 -0.5%
FY25 Q4 0.8%
FCF margin (TTM) Canadian Solar Inc.
-40% -20% 0% 20% FY12 Q4 FY15 Q4 FY18 Q4 FY25 Q4 FCF margin (TTM), FY12 Q4: -16.1% FCF margin (TTM), FY13 Q4: 12.5% FCF margin (TTM), FY14 Q4: 7.3% FCF margin (TTM), FY15 Q4: 9.3% FCF margin (TTM), FY16 Q4: -19.8% FCF margin (TTM), FY17 Q4: -2.2% FCF margin (TTM), FY18 Q4: -2.7% FCF margin (TTM), FY21 Q4: -15.9% FCF margin (TTM), FY22 Q4: 3.9% FCF margin (TTM), FY23 Q4: -5.7% FCF margin (TTM), FY24 Q4: -33.3% FCF margin (TTM), FY25 Q4: -21.7% -21.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY12 Q4 -16.1%
FY13 Q4 12.5%
FY14 Q4 7.3%
FY15 Q4 9.3%
FY16 Q4 -19.8%
FY17 Q4 -2.2%
FY18 Q4 -2.7%
FY21 Q4 -15.9%
FY22 Q4 3.9%
FY23 Q4 -5.7%
FY24 Q4 -33.3%
FY25 Q4 -21.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 631 1,496 1,899 1,295 1,654 2,961 3,468 2,853 3,390 3,745 3,201 3,476 5,277 7,469 7,614 5,993 5,595
Gross profit 78 229 182 90 276 581 577 417 638 775 718 690 909 1,263 1,280 999 1,026
EBITDA 27 152 63 −61 212 449 342 189 369 494 419 430 473 591 760 471 598
Operating income 7 120 7 −143 131 366 247 93 269 365 259 220 190 356 453 −30 43
Net income 23 51 −91 −195 32 240 172 65 100 237 172 147 95 240 274 36 −104
Diluted EPS $0.60 $1.16 −$2.11 −$4.53 $0.63 $4.11 $2.93 $1.12 $1.69 $3.88 $2.83 $2.38 $1.46 $3.44 $3.87 $0.54 −$2.50
Growth (year on year)
Revenue — +137.0% +27.0% −31.8% +27.8% +79.0% +17.1% −17.7% +18.8% +10.4% −14.5% +8.6% +51.8% +41.5% +1.9% −21.3% −6.6%
EBITDA — +460.9% −58.5% −197.1% — +112.1% −23.9% −44.7% +95.0% +34.0% −15.2% +2.6% +10.2% +24.8% +28.7% −38.0% +26.9%
Operating income — — −94.3% — — +180.0% −32.5% −62.3% +189.1% +35.4% −29.0% −14.9% −13.6% +87.0% +27.3% −106.6% —
Net income — +123.3% −279.6% — — — −28.2% −62.0% +52.6% +138.1% −27.6% −14.5% −35.1% — +14.3% −86.9% —
Diluted EPS — +93.3% −281.9% — — — −28.7% −61.8% +50.9% +129.6% −27.1% −15.9% −38.7% — +12.5% −86.0% —
Margins
Gross margin 12.4% 15.3% 9.6% 7.0% 16.7% 19.6% 16.6% 14.6% 18.8% 20.7% 22.4% 19.8% 17.2% 16.9% 16.8% 16.7% 18.3%
EBITDA margin 4.3% 10.1% 3.3% −4.7% 12.8% 15.2% 9.9% 6.6% 10.9% 13.2% 13.1% 12.4% 9.0% 7.9% 10.0% 7.9% 10.7%
Operating margin 1.0% 8.0% 0.4% −11.0% 7.9% 12.4% 7.1% 3.3% 7.9% 9.7% 8.1% 6.3% 3.6% 4.8% 6.0% −0.5% 0.8%
Net margin 3.6% 3.4% −4.8% −15.1% 1.9% 8.1% 5.0% 2.3% 2.9% 6.3% 5.4% 4.2% 1.8% 3.2% 3.6% 0.6% −1.9%
Free-cash-flow margin −3.4% −12.9% −7.7% −16.1% 12.5% 7.3% 9.3% −19.8% −2.2% −2.7% — — −15.9% 3.9% −5.7% −33.3% −21.7%
Cash flow
Cash from operations 51 −58 60 −148 230 265 414 −278 204 216 600 −121 −408 917 685 −885 −253
Capital spending 72 134 205 60 23 50 91 287 277 316 — — 429 627 1,116 1,113 962
Free cash flow −21 −193 −145 −208 206 215 323 −565 −73 −100 — — −837 290 −432 −1,998 −1,215
Stock-based pay 5 4 4 5 6 5 6 8 9 10 11 12 9 9 55 21 24
Free cash flow after stock pay −27 −197 −149 −213 200 210 317 −573 −82 −110 — — −846 280 −487 −2,020 −1,239
Balance sheet
Cash 160 289 344 142 228 550 553 511 562 444 669 1,179 870 981 1,939 1,701 1,370
Total debt 0 610 832 1,073 930 876 1,763 2,791 3,142 1,858 1,953 2,137 2,941 3,701 4,876 6,478 8,399
Net debt (negative = net cash) −160 321 488 932 702 326 1,210 2,280 2,580 1,414 1,284 958 2,071 2,720 2,938 4,777 7,029
Diluted shares 38m 44m 43m 43m 50m 59m 60m 58m 62m 62m 61m 62m 69m 71m 72m 67m 67m
Returned to shareholders
Buybacks — — — — — — — — — — 12 6 — — — 80 70
Total returned — — — — — — — — — — 12 6 — — — 80 70

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · December 31, 2025
What it owns · $15.2bn
Short-term assets $6.0bnLonger-term assets $9.2bn
What it owes, and who funded it · $13.7bn
Short-term liabilities $5.9bnLonger-term liabilities $5.1bnShareholders' equity $2.8bn
  • Short-term assets cover short-term liabilities $6.0bn of assets due within a year against $5.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6.0bn short-term assets against $5.1bn of longer-dated liabilities.
  • More cash than debt $1.4bn of cash against $8.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 299% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 60% to 299% over five years.
  • A year's operating cash flow covers at least 20% of debt −$253m of operating cash flow against $8.4bn of debt.
  • Operating profit covers interest at least five times over Operating income of $43m against $178m of interest.

From Canadian Solar Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$70.1M
Returned to shareholders
-6%
of free cash flow
Buybacks, last 3 fiscal years
$156M
Diluted share count
+0.6%
year over year
Total shareholder yield
11.0%
dividends 0.0% + buybacks 11.0% of market value
R&D spending
1.6%
of revenue
Days sales outstanding
54 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated CSIQ MCHP FSLR ARM ON GFS Median
Revenue, last 12 months $5.6bn $5.1bn $5.0bn $4.9bn $6.4bn $6.8bn $1.1bn
Revenue growth, last 12 months −6.6% 20.9% −0.7% 22.8% 2.9% 0.6% 13.7%
Revenue growth, 3-year average 50.1% −16.4% 16.6% — −8.6% — 3.9%
Revenue growth, latest quarter — 38.0% −22.8% — 11.1% — 20.1%
Gross margin 18.3% 60.2% 49.3% 97.5% 38.7% 24.9% 48.3%
Operating margin 0.8% 15.5% 37.7% 18.3% 12.3% 11.7% 4.8%
Operating margin, 3-year average 4.1% 15.6% 34.1% — 14.6% — 4.8%
Net margin −1.9% 9.3% 37.1% 18.4% 10.8% 13.0% 5.3%
Cash from operations / revenue −4.5% 23.4% 16.7% 31.0% 27.8% 25.5% 17.4%
Free-cash-flow margin −21.7% 21.7% 4.6% 19.9% 25.4% 14.9% 9.6%
Free-cash-flow margin, 3-year average −9.4% 23.2% 0.5% — 20.5% — 8.5%
Stock pay / revenue 0.4% 5.4% 0.5% 21.4% 2.3% 2.9% 5.8%
Change in share count 0.6% 2.2% 0.2% 0.5% −4.5% 0.9% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth -6.6% 13.7% 64 of 75
Change in growth rate Growth +14.6pp +3.7pp 11 of 75
Gross margin Profitability 18.3% 48.3% 65 of 73
Operating margin Profitability 0.8% 4.8% 46 of 75
Net margin Profitability -1.9% 5.3% 44 of 75
Free-cash-flow margin Cash generation -21.7% 9.6% 64 of 75
Stock pay as % of revenue Cash generation 0.4% 6.4% 9 of 74
Long-term debt as % of assets Balance sheet 39.6% 14.0% 43 of 47
Change in share count Balance sheet 0.6% 0.9% 30 of 72
Days sales outstanding Balance sheet 54 days 58 days 28 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$648M
Institutions reporting
154
Shares held vs prior quarter
▲ 23.0%
Positions opened / closed
48 / 23

Top buyers and sellers, Q2 2026: 94 institutions bought and 55 sold ; the biggest buyer was Blackrock, Inc (+3.7M shares) and the biggest seller Two Sigma Investments, LP (−987K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $85.2M 5.3M 13.1% ▲ 226.9%
Mackenzie Financial Corp $74M 4.6M 11.4% ▲ 0.1%
D. E. Shaw & Co., Inc. $61.3M 3.8M 9.5% ▲ 25.4%
Invesco Ltd. $44.3M 2.8M 6.8% ▲ 14.1%
Legal & General Group PLC $42.6M 2.7M 6.6% ▲ 94.0%
Polunin Capital Partners Ltd $31.8M 2.1M 4.9% ▲ 5.9%
State Street Corp $24.6M 1.5M 3.8% ▲ 154.8%
Morgan Stanley $21.4M 1.3M 3.3% ▼ 16.7%
Two Sigma Investments, LP $19.4M 1.2M 3.0% ▼ 44.9%
Shah Capital Management $14.8M 924K 2.3% ▼ 4.2%
Crystal Cove Asset Management, LLC $13.9M 871K 2.2% New
Goldman Sachs Group Inc $13.7M 853K 2.1% ▼ 13.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Canadian Solar Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $62,978 2 trades by 2 insiders · 0% under pre-set plans
Net ▼ $62,978 net selling
Insider Date Trade Shares Price Value
Chang Leslie Li Hsien Director May 26, 2026 Sell 1,767 $19.45 $34,368
Wong Andrew Luen Cheung Director May 19, 2026 Sell 1,752 $16.33 $28,610

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Canadian Solar Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Susan A. Davis(CA):Purchase, $15,001 - $50,000, traded October 28, 2020, filed November 30, 2020
  • Suzan K. DelBene(D-WA 1):Sale (full), $15,001 - $50,000, traded January 14, 2015, filed February 13, 2015

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Canadian Solar Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Canadian Solar Inc. in brief

What does Canadian Solar Inc. do?
Canadian Solar Inc. is a US-listed company in the semiconductors industry. Its financial year ends in December.
What is Canadian Solar Inc.'s stock ticker?
Canadian Solar Inc. trades under the ticker CSIQ on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Canadian Solar Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Canadian Solar Inc. reported revenue of $5.6B, 6.6% lower than a year earlier, according to its SEC filings.
What is Canadian Solar Inc.'s free cash flow?
Canadian Solar Inc.'s free-cash-flow margin is -21.7% of revenue over the trailing twelve months, ranking 64 of the 75 semiconductor companies we cover.
Who are Canadian Solar Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Mackenzie Financial Corp and D. E. Shaw & Co., Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Canadian Solar Inc. buying back stock, and does it pay a dividend?
Canadian Solar Inc. spent $70.1M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.6% over the year.
What is Canadian Solar Inc.'s market cap?
On December 31, 2025, Canadian Solar Inc.'s market capitalisation was about $1.6B and net debt of $7B. Market figures come from third-party market data and may be delayed.
How much debt does Canadian Solar Inc. have?
Canadian Solar Inc.'s debt-to-equity ratio is 299.1%, from its latest balance sheet (59.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Canadian Solar Inc.'s competitors?
In our Semiconductors peer group, the companies closest to Canadian Solar Inc. are Microchip Technology Inc, First Solar, Inc., ARM Holdings PLC, ON Semiconductor Corp and Globalfoundries Inc. The side-by-side comparison below sets their revenue, margins and growth against Canadian Solar Inc.'s.
Are insiders buying or selling Canadian Solar Inc. stock?
Over the last 12 months, Canadian Solar Inc.'s directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Canadian Solar Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Canadian Solar Inc. announces its own schedule.