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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and PAN AMERICAN SILVER CORP (PAAS). Click either name above to swap in a different company.
Canadian Solar Inc. is the larger business by last-quarter revenue ($4.5B vs $2.8B, roughly 1.6× PAN AMERICAN SILVER CORP).
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.
Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.
CSIQ vs PAAS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2022
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $2.8B |
| Net Profit | $57.6M | — |
| Gross Margin | 17.5% | 27.0% |
| Operating Margin | 2.2% | — |
| Net Margin | 1.3% | — |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-1.05 |
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.
| Q3 25 | $4.5B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $1.3B | — | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 23 | $1.3B | — | ||
| Q3 22 | — | $2.8B |
| Q3 25 | $57.6M | — | ||
| Q2 25 | $63.6M | — | ||
| Q1 25 | $36.2M | — | ||
| Q3 24 | $366.8M | — | ||
| Q2 24 | $304.4M | — | ||
| Q1 23 | $8.9M | — | ||
| Q3 22 | — | — |
| Q3 25 | 17.5% | — | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 19.0% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 18.7% | — | ||
| Q1 23 | 14.5% | — | ||
| Q3 22 | — | 27.0% |
| Q3 25 | 2.2% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 3.7% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 9.1% | — | ||
| Q1 23 | 1.2% | — | ||
| Q3 22 | — | — |
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.7% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 23 | 0.7% | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | $-1.05 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | — |
| Total Assets | $13.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 23 | $981.4M | — | ||
| Q3 22 | — | — |
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 23 | $2.3B | — | ||
| Q3 22 | — | — |
| Q3 25 | $13.5B | — | ||
| Q2 25 | $13.5B | — | ||
| Q1 25 | $13.5B | — | ||
| Q3 24 | $11.9B | — | ||
| Q2 24 | $11.9B | — | ||
| Q1 23 | $9.0B | — | ||
| Q3 22 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -3.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-187.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | -3.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
