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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and Diamondback Energy (FANG). Click either name above to swap in a different company.
Canadian Solar Inc. is the larger business by last-quarter revenue ($4.5B vs $4.2B, roughly 1.1× Diamondback Energy). Canadian Solar Inc. runs the higher net margin — 1.3% vs 0.6%, a 0.7% gap on every dollar of revenue.
Canadian Solar Inc. is a global renewable energy company. Headquartered in Kitchener, Ontario, the company manufactures solar PV modules, provides battery energy storage solutions and develops utility-scale solar power and battery energy storage projects.
Diamondback Energy, headquartered in Midland, Texas, is an American company engaged in hydrocarbon exploration in the Permian Basin.
CSIQ vs FANG — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $4.2B |
| Net Profit | $57.6M | $25.0M |
| Gross Margin | 17.5% | — |
| Operating Margin | 2.2% | 2.7% |
| Net Margin | 1.3% | 0.6% |
| Revenue YoY | — | 4.7% |
| Net Profit YoY | — | 38.4% |
| EPS (diluted) | — | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $3.4B | ||
| Q3 25 | $4.5B | $3.9B | ||
| Q2 25 | $3.0B | $3.7B | ||
| Q1 25 | $1.3B | $4.0B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $5.9B | $2.6B | ||
| Q2 24 | $4.1B | $2.5B |
| Q1 26 | — | $25.0M | ||
| Q4 25 | — | $-1.5B | ||
| Q3 25 | $57.6M | $1.0B | ||
| Q2 25 | $63.6M | $699.0M | ||
| Q1 25 | $36.2M | $1.4B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $366.8M | $659.0M | ||
| Q2 24 | $304.4M | $837.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 19.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 18.7% | — |
| Q1 26 | — | 2.7% | ||
| Q4 25 | — | -82.4% | ||
| Q3 25 | 2.2% | 31.5% | ||
| Q2 25 | 3.3% | 31.0% | ||
| Q1 25 | 3.7% | 41.3% | ||
| Q4 24 | — | 38.0% | ||
| Q3 24 | 7.7% | 26.8% | ||
| Q2 24 | 9.1% | 46.6% |
| Q1 26 | — | 0.6% | ||
| Q4 25 | — | -43.2% | ||
| Q3 25 | 1.3% | 25.9% | ||
| Q2 25 | 2.1% | 19.0% | ||
| Q1 25 | 2.7% | 34.7% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | 6.2% | 24.9% | ||
| Q2 24 | 7.5% | 33.7% |
| Q1 26 | — | $0.08 | ||
| Q4 25 | — | $-4.99 | ||
| Q3 25 | — | $3.51 | ||
| Q2 25 | — | $2.38 | ||
| Q1 25 | — | $4.83 | ||
| Q4 24 | — | $3.40 | ||
| Q3 24 | — | $3.19 | ||
| Q2 24 | — | $4.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $-174.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | $42.6B |
| Total Assets | $13.5B | $70.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-174.0M | ||
| Q4 25 | — | $104.0M | ||
| Q3 25 | $1.7B | $159.0M | ||
| Q2 25 | $1.7B | $219.0M | ||
| Q1 25 | $1.7B | $1.8B | ||
| Q4 24 | — | $161.0M | ||
| Q3 24 | $1.9B | $370.0M | ||
| Q2 24 | $1.9B | $6.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | $13.7B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.1B | ||
| Q1 25 | — | $13.0B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $12.0B |
| Q1 26 | — | $42.6B | ||
| Q4 25 | — | $37.0B | ||
| Q3 25 | $3.9B | $39.1B | ||
| Q2 25 | $3.9B | $38.9B | ||
| Q1 25 | $3.9B | $38.5B | ||
| Q4 24 | — | $37.7B | ||
| Q3 24 | $3.7B | $37.4B | ||
| Q2 24 | $3.7B | $17.4B |
| Q1 26 | — | $70.1B | ||
| Q4 25 | — | $71.1B | ||
| Q3 25 | $13.5B | $76.2B | ||
| Q2 25 | $13.5B | $71.9B | ||
| Q1 25 | $13.5B | $70.1B | ||
| Q4 24 | — | $67.3B | ||
| Q3 24 | $11.9B | $65.7B | ||
| Q2 24 | $11.9B | $35.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.69× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-187.7M | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.7B |
| FCF MarginFCF / Revenue | — | 40.2% |
| Capex IntensityCapex / Revenue | — | 27.9% |
| Cash ConversionOCF / Net Profit | -3.26× | 73.12× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.8B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | $-187.7M | $2.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.5B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 40.2% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 73.12× | ||
| Q4 25 | — | — | ||
| Q3 25 | -3.26× | 2.34× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 2.18× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | — | 1.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSIQ
Segment breakdown not available.
FANG
| Oil, natural gas and natural gas liquid sales | $3.8B | 90% |
| Sales of purchased oil | $385.0M | 9% |
