Canadian Solar (CSIQ) Gross Margin (2009 - 2025)
Canadian Solar's (CSIQ) quarterly Gross Margin came in at 10.22% in Q4 2025, down 405.0% YoY from 3.35% in Q4 2024, and down 40.69% on a QoQ basis from 17.23% in Q3 2025.
Canadian Solar (CSIQ) Gross Margin (2009 - 2025) Analysis & Trends
Canadian Solar (CSIQ) has 17 years of Gross Margin data on file, last reported at 10.22% in Q4 2025.
- Quarterly Gross Margin fell 405.0% year-over-year to 10.22% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 18.34% (up 167.0% YoY) and the FY2025 annual result came in at 18.34%, up 167.0% from the prior year.
- Gross Margin eased to 10.22% in Q4 2025, from 17.23% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 29.82% in Q2 2025 to a low of 10.22% in Q4 2025.
- A 5-year average of 16.93% and a median of 17.24% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2021 — Gross Margin sank 917 bps — and 2025, when it jumped 1257 bps.
- Tracing CSIQ's Gross Margin over 5 years: stood at 19.71% in 2021, then dropped by 10 bps to 17.68% in 2022, then retreated by 29 bps to 12.54% in 2023, then climbed by 14 bps to 14.27% in 2024, then dropped by 28 bps to 10.22% in 2025.
- The last three Gross Margin figures came in at 10.22% (Q4 2025), 17.23% (Q3 2025), and 29.82% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 57.28% |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 35.91% |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 59.97% |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 60.64% |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 27.48% |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 30.31% |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 10.22% |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | 8.32% |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 29.12% |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | 33.45% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 10.22% |
| Sep 30, 2025 | 17.23% |
| Jun 30, 2025 | 29.82% |
| Mar 31, 2025 | 11.74% |
| Dec 31, 2024 | 14.27% |
| Sep 30, 2024 | 16.41% |
| Jun 30, 2024 | 17.25% |
| Mar 31, 2024 | 19.02% |
| Dec 31, 2023 | 12.54% |
| Sep 30, 2023 | 16.68% |
| Jun 30, 2023 | 18.64% |
| Mar 31, 2023 | 18.69% |
| Dec 31, 2022 | 17.68% |
| Sep 30, 2022 | 18.76% |
| Jun 30, 2022 | 16.03% |
| Mar 31, 2022 | 14.47% |
| Dec 31, 2021 | 19.71% |
| Sep 30, 2021 | 18.60% |
| Jun 30, 2021 | 12.93% |
| Mar 31, 2021 | 17.86% |