KPIs & Operating Metrics(New)
Growth Metrics

Canadian Solar (CSIQ) Operating Expenses (2009 - 2025)

Canadian Solar (CSIQ) reported Operating Expenses of $188.5 million for Q4 2025, down 45.24% year-on-year from $344.1 million in Q4 2024, and down 15.0% quarter-over-quarter from $221.7 million in Q3 2025.

Canadian Solar (CSIQ) has 17 years of Operating Expenses data on file, last reported at $188.5 million in Q4 2025.

  • For the quarter ending Q4 2025, Operating Expenses fell 45.24% year-over-year to $188.5 million; the trailing twelve-month figure through Dec 2025 stood at $983.1 million (down 4.5% YoY), and the FY2025 full-year result was $983.1 million, down 4.5% from the prior year.
  • Operating Expenses for Q4 2025 stood at $188.5 million, down from $221.7 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $377.6 million in Q2 2025 and bottomed at $151.1 million in Q1 2021.
  • A 5-year average of $223.3 million and a median of $214.7 million in 2022 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses jumped 68.73% in 2021 and slumped 45.24% in 2025, its largest moves.
  • Tracing CSIQ's Operating Expenses over 5 years: stood at $233.9 million in 2021, then slipped by 8.98% to $212.9 million in 2022, then decreased by 0.02% to $212.8 million in 2023, then surged by 61.7% to $344.1 million in 2024, then slumped by 45.24% to $188.5 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods registered $188.5 million, $221.7 million, and $377.6 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn 140.83 Mn
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn 143.79 Mn
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn 188.46 Mn
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn 130.04 Mn
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn 123.32 Mn
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn 765.74 Mn
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 33.29 Mn
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn 55.90 Mn
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn -232.93 Mn
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn 13.20 Mn

Historic Data

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DateValue
Dec 31, 2025 188.46 Mn
Sep 30, 2025 221.71 Mn
Jun 30, 2025 377.60 Mn
Mar 31, 2025 195.30 Mn
Dec 31, 2024 344.13 Mn
Sep 30, 2024 247.14 Mn
Jun 30, 2024 234.44 Mn
Mar 31, 2024 203.68 Mn
Dec 31, 2023 212.83 Mn
Sep 30, 2023 224.99 Mn
Jun 30, 2023 216.45 Mn
Mar 31, 2023 172.40 Mn
Dec 31, 2022 212.87 Mn
Sep 30, 2022 273.90 Mn
Jun 30, 2022 254.93 Mn
Mar 31, 2022 165.38 Mn
Dec 31, 2021 233.87 Mn
Sep 30, 2021 175.54 Mn
Jun 30, 2021 158.41 Mn
Mar 31, 2021 151.12 Mn
Dec 31, 2020 138.61 Mn
Sep 30, 2020 119.37 Mn
Jun 30, 2020 101.74 Mn
Mar 31, 2020 109.76 Mn
Dec 31, 2019 118.08 Mn
Sep 30, 2019 118.81 Mn
Jun 30, 2019 121.90 Mn
Mar 31, 2019 100.83 Mn
Dec 31, 2018 134.75 Mn
Sep 30, 2018 104.49 Mn
Jun 30, 2018 105.50 Mn
Mar 31, 2018 65.70 Mn
Dec 31, 2017 88.39 Mn
Sep 30, 2017 102.03 Mn
Jun 30, 2017 84.09 Mn
Mar 31, 2017 93.74 Mn
Dec 31, 2016 60.72 Mn
Sep 30, 2016 90.32 Mn
Jun 30, 2016 98.89 Mn
Mar 31, 2016 74.10 Mn
Dec 31, 2015 95.17 Mn
Sep 30, 2015 95.94 Mn
Jun 30, 2015 64.05 Mn
Mar 31, 2015 74.24 Mn
Dec 31, 2014 68.91 Mn
Sep 30, 2014 53.20 Mn
Jun 30, 2014 50.53 Mn
Mar 31, 2014 42.03 Mn
Dec 31, 2013 55.96 Mn
Sep 30, 2013 44.94 Mn
Jun 30, 2013 36.44 Mn
Mar 31, 2013 754,000.00
Dec 31, 2012 106.35 Mn
Sep 30, 2012 41.77 Mn
Jun 30, 2012 46.24 Mn
Mar 31, 2012 38.51 Mn
Dec 31, 2011 62.90 Mn
Sep 30, 2011 42.61 Mn
Jun 30, 2011 38.66 Mn
Mar 31, 2011 31.28 Mn
Dec 31, 2010 34.88 Mn
Sep 3, 2010 48.29 Mn
Jun 30, 2010 27.59 Mn
Mar 31, 2010 20.71 Mn
Dec 31, 2009 39.70 Mn
Sep 30, 2009 14.86 Mn
Jun 30, 2009 10.17 Mn
Mar 31, 2009 6.87 Mn