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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and Fresenius Medical Care AG (FMS). Click either name above to swap in a different company.
Fresenius Medical Care AG is the larger business by last-quarter revenue ($5.5B vs $4.5B, roughly 1.2× Canadian Solar Inc.). Fresenius Medical Care AG runs the higher net margin — 7.9% vs 1.3%, a 6.6% 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.
Fresenius Medical Care AG & Co. KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives.
CSIQ vs FMS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $5.5B |
| Net Profit | $57.6M | $434.2M |
| Gross Margin | 17.5% | 27.4% |
| Operating Margin | 2.2% | 11.7% |
| Net Margin | 1.3% | 7.9% |
| Revenue YoY | — | -0.3% |
| Net Profit YoY | — | 240.4% |
| EPS (diluted) | — | — |
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.
| Q4 25 | — | $5.5B | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 23 | $1.3B | — |
| Q4 25 | — | $434.2M | ||
| Q3 25 | $57.6M | — | ||
| Q2 25 | $63.6M | — | ||
| Q1 25 | $36.2M | — | ||
| Q4 24 | — | $127.6M | ||
| Q3 24 | $366.8M | — | ||
| Q2 24 | $304.4M | — | ||
| Q1 23 | $8.9M | — |
| Q4 25 | — | 27.4% | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 19.0% | — | ||
| Q4 24 | — | 25.0% | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 18.7% | — | ||
| Q1 23 | 14.5% | — |
| Q4 25 | — | 11.7% | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 9.1% | — | ||
| Q1 23 | 1.2% | — |
| Q4 25 | — | 7.9% | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 23 | 0.7% | — |
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 | $1.7B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | $15.4B |
| Total Assets | $13.5B | $33.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.7B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 23 | $981.4M | — |
| Q4 25 | — | $15.4B | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | — | $17.0B | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 23 | $2.3B | — |
| Q4 25 | — | $33.5B | ||
| Q3 25 | $13.5B | — | ||
| Q2 25 | $13.5B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | — | $36.3B | ||
| Q3 24 | $11.9B | — | ||
| Q2 24 | $11.9B | — | ||
| Q1 23 | $9.0B | — |
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 | $2.9B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -3.26× | 6.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9B | ||
| Q3 25 | $-187.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 23 | — | — |
| Q4 25 | — | 6.67× | ||
| Q3 25 | -3.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 20.20× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
