Canadian Solar (CSIQ) Operating Expenses (2009 - 2025)
Canadian Solar's (CSIQ) quarterly Operating Expenses came in at $188.5 million in Q4 2025, down 45.24% YoY from $344.1 million in Q4 2024, and down 15.0% on a QoQ basis from $221.7 million in Q3 2025.
Canadian Solar (CSIQ) Operating Expenses (2009 - 2025) Analysis & Trends
Canadian Solar (CSIQ) has 17 years of Operating Expenses data on file, last reported at $188.5 million in Q4 2025.
- Quarterly Operating Expenses fell 45.24% year-over-year to $188.5 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $983.1 million (down 4.5% YoY) and the FY2025 annual result came in at $983.1 million, down 4.5% from the prior year.
- Operating Expenses fell to $188.5 million in Q4 2025, from $221.7 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $377.6 million in Q2 2025 to a low of $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.
- Annual changes were most pronounced in 2021 — Operating Expenses jumped 68.73% — and 2025, when it plunged 45.24%.
- Tracing CSIQ's Operating Expenses over 5 years: stood at $233.9 million in 2021, then fell by 8.98% to $212.9 million in 2022, then declined by 0.02% to $212.8 million in 2023, then surged by 61.7% to $344.1 million in 2024, then sank by 45.24% to $188.5 million in 2025.
- The last three Operating Expenses figures came in at $188.5 million (Q4 2025), $221.7 million (Q3 2025), and $377.6 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 154.62 Mn |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 144.95 Mn |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 123.50 Mn |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 835.20 Mn |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 111.20 Mn |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 30.80 Mn |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 188.46 Mn |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | -232.93 Mn |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 64.84 Mn |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | -11.49 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |