Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.85B | $3.39B | $3.74B | $3.20B | $3.48B | $5.28B | $7.47B | $7.61B | $5.99B | $5.60B |
| Revenue growth | — | 18.8% | 10.4% | -14.5% | 8.6% | 51.8% | 41.5% | 1.9% | -21.3% | -6.6% |
| Gross profit | $417M | $638M | $775M | $718M | $690M | $909M | $1.26B | $1.28B | $999M | $1.03B |
| Gross margin | 14.6% | 18.8% | 20.7% | 22.4% | 19.8% | 17.2% | 16.9% | 16.8% | 16.7% | 18.3% |
| Operating income | $93.2M | $269M | $365M | $259M | $220M | $190M | $356M | $453M | -$30.1M | $43.2M |
| Operating margin | 3.3% | 7.9% | 9.7% | 8.1% | 6.3% | 3.6% | 4.8% | 6.0% | -0.5% | 0.8% |
| Net income | $65.3M | $103M | $242M | $167M | $147M | $110M | $299M | $274M | $36.1M | -$104M |
| Net margin | 2.3% | 3.0% | 6.5% | 5.2% | 4.2% | 2.1% | 4.0% | 3.6% | 0.6% | -1.9% |
| EPS (diluted) | $1.12 | $1.69 | $3.88 | $2.83 | $2.38 | $1.46 | $3.44 | $3.87 | $0.54 | -$2.50 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$278M | $204M | $216M | $600M | -$121M | -$408M | $917M | $685M | -$885M | -$253M |
| Capital expenditures | $287M | $277M | $316M | — | — | $429M | $627M | $1.12B | $1.11B | $962M |
| Free cash flow | -$565M | -$73.1M | -$100M | — | — | -$837M | $290M | -$432M | -$2.00B | -$1.21B |
| Share buybacks | — | — | — | $11.8M | $5.96M | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $511M | $562M | $444M | $669M | $1.18B | $870M | $981M | $1.94B | $1.70B | $1.37B |
| Total assets | $5.41B | $5.89B | $4.89B | $5.47B | $6.54B | $7.39B | $9.04B | $11.9B | $13.5B | $15.2B |
| Total liabilities | $4.51B | $4.83B | $3.62B | $4.04B | $4.64B | $5.26B | $6.73B | $8.19B | $9.36B | $10.9B |
| Long-term debt | $1.19B | $1.53B | $830M | $1.02B | $935M | $1.02B | $2.26B | $3.07B | $4.60B | $6.01B |
| Shareholders' equity | $885M | $1.03B | $1.23B | $1.39B | $1.57B | $1.80B | $1.94B | $2.56B | $2.82B | $2.81B |
| Retained earnings | $284M | $384M | $622M | $794M | $940M | $1.04B | $1.28B | $1.55B | $1.59B | $1.48B |
| Shares (wtd avg diluted) | 58.1M | 61.5M | 62.3M | 60.8M | 62.3M | 68.9M | 71.2M | 72.2M | 66.9M | 67.4M |
Every figure is extracted from Canadian Solar Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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