Canadian Solar (CSIQ) Research & Development (2009 - 2025)
Canadian Solar's (CSIQ) quarterly Research & Development came in at $21.7 million in Q4 2025, down 28.85% YoY from $30.5 million in Q4 2024, and up 8.42% on a QoQ basis from $20.0 million in Q3 2025.
Canadian Solar (CSIQ) Research & Development (2009 - 2025) Analysis & Trends
Canadian Solar (CSIQ) has 17 years of Research & Development data on file, last reported at $21.7 million in Q4 2025.
- Quarterly Research & Development fell 28.85% year-over-year to $21.7 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $90.7 million (down 24.92% YoY) and the FY2025 annual result came in at $382.6 million, up 216.74% from the prior year.
- Research & Development improved to $21.7 million in Q4 2025, from $20.0 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $34.3 million in Q1 2024 to a low of $12.4 million in Q1 2021.
- A 5-year average of $22.0 million and a median of $21.1 million in 2022 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2024 — Research & Development jumped 98.06% — and 2025, when it plunged 34.34%.
- Tracing CSIQ's Research & Development over 5 years: stood at $19.3 million in 2021, then rose by 6.74% to $20.6 million in 2022, then surged by 52.88% to $31.5 million in 2023, then decreased by 3.26% to $30.5 million in 2024, then slipped by 28.85% to $21.7 million in 2025.
- The last three Research & Development figures came in at $21.7 million (Q4 2025), $20.0 million (Q3 2025), and $24.7 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 76.24 Mn |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 44.51 Mn |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 45.66 Mn |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 190.68 Mn |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 52.75 Mn |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | - |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 81.05 Mn |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | -33.12 Mn |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | - |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | -2.01 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 21.68 Mn |
| Sep 30, 2025 | 20.00 Mn |
| Jun 30, 2025 | 24.72 Mn |
| Mar 31, 2025 | 24.28 Mn |
| Dec 31, 2024 | 30.48 Mn |
| Sep 30, 2024 | 30.46 Mn |
| Jun 30, 2024 | 25.58 Mn |
| Mar 31, 2024 | 34.28 Mn |
| Dec 31, 2023 | 31.50 Mn |
| Sep 30, 2023 | 28.90 Mn |
| Jun 30, 2023 | 23.14 Mn |
| Mar 31, 2023 | 17.31 Mn |
| Dec 31, 2022 | 20.61 Mn |
| Sep 30, 2022 | 17.89 Mn |
| Jun 30, 2022 | 18.05 Mn |
| Mar 31, 2022 | 13.28 Mn |
| Dec 31, 2021 | 19.31 Mn |
| Sep 30, 2021 | 13.49 Mn |
| Jun 30, 2021 | 13.16 Mn |
| Mar 31, 2021 | 12.45 Mn |