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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and PG&E Corporation (PCG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $4.5B, roughly 1.5× Canadian Solar Inc.). PG&E Corporation runs the higher net margin — 12.9% vs 1.3%, a 11.6% 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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
CSIQ vs PCG — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $6.9B |
| Net Profit | $57.6M | $885.0M |
| Gross Margin | 17.5% | — |
| Operating Margin | 2.2% | 21.4% |
| Net Margin | 1.3% | 12.9% |
| Revenue YoY | — | 15.0% |
| Net Profit YoY | — | 39.6% |
| EPS (diluted) | — | $0.39 |
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 | — | $6.9B | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | $4.5B | $6.3B | ||
| Q2 25 | $3.0B | $5.9B | ||
| Q1 25 | $1.3B | $6.0B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | $5.9B | $5.9B | ||
| Q2 24 | $4.1B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | — | $670.0M | ||
| Q3 25 | $57.6M | $850.0M | ||
| Q2 25 | $63.6M | $549.0M | ||
| Q1 25 | $36.2M | $634.0M | ||
| Q4 24 | — | $674.0M | ||
| Q3 24 | $366.8M | $579.0M | ||
| Q2 24 | $304.4M | $524.0M |
| 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 | — | 21.4% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | 2.2% | 19.3% | ||
| Q2 25 | 3.3% | 18.6% | ||
| Q1 25 | 3.7% | 20.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | 7.7% | 17.3% | ||
| Q2 24 | 9.1% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | — | 9.8% | ||
| Q3 25 | 1.3% | 13.6% | ||
| Q2 25 | 2.1% | 9.3% | ||
| Q1 25 | 2.7% | 10.6% | ||
| Q4 24 | — | 10.2% | ||
| Q3 24 | 6.2% | 9.7% | ||
| Q2 24 | 7.5% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $0.29 | ||
| Q3 25 | — | $0.37 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $0.28 | ||
| Q4 24 | — | $0.30 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.24 |
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.
| Q1 26 | — | — | ||
| Q4 25 | — | $713.0M | ||
| Q3 25 | $1.7B | $404.0M | ||
| Q2 25 | $1.7B | $494.0M | ||
| Q1 25 | $1.7B | $2.0B | ||
| Q4 24 | — | $940.0M | ||
| Q3 24 | $1.9B | $895.0M | ||
| Q2 24 | $1.9B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | $57.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $53.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $32.5B | ||
| Q3 25 | $3.9B | $32.0B | ||
| Q2 25 | $3.9B | $31.2B | ||
| Q1 25 | $3.9B | $30.7B | ||
| Q4 24 | — | $30.1B | ||
| Q3 24 | $3.7B | $26.8B | ||
| Q2 24 | $3.7B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | $141.6B | ||
| Q3 25 | $13.5B | $138.2B | ||
| Q2 25 | $13.5B | $136.4B | ||
| Q1 25 | $13.5B | $135.4B | ||
| Q4 24 | — | $133.7B | ||
| Q3 24 | $11.9B | $132.3B | ||
| Q2 24 | $11.9B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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.
| Q1 26 | — | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | $-187.7M | $2.9B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | — | $-2.0B | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | $-896.0M | ||
| Q3 24 | — | $526.0M | ||
| Q2 24 | — | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -34.0% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.93× | ||
| Q3 25 | -3.26× | 3.35× | ||
| Q2 25 | — | 1.93× | ||
| Q1 25 | — | 4.49× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | — | 5.41× | ||
| Q2 24 | — | 1.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSIQ
Segment breakdown not available.
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
