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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
REINSURANCE GROUP OF AMERICA INC is the larger business by last-quarter revenue ($6.6B vs $4.5B, roughly 1.5× Canadian Solar Inc.). REINSURANCE GROUP OF AMERICA INC runs the higher net margin — 7.0% vs 1.3%, a 5.7% 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.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
CSIQ vs RGA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $6.6B |
| Net Profit | $57.6M | $463.0M |
| Gross Margin | 17.5% | — |
| Operating Margin | 2.2% | 7.7% |
| Net Margin | 1.3% | 7.0% |
| Revenue YoY | — | 26.6% |
| Net Profit YoY | — | 212.8% |
| EPS (diluted) | — | $6.91 |
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 | — | $6.6B | ||
| Q3 25 | $4.5B | $6.2B | ||
| Q2 25 | $3.0B | $5.6B | ||
| Q1 25 | $1.3B | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $5.9B | $5.7B | ||
| Q2 24 | $4.1B | $4.9B | ||
| Q1 24 | — | $6.3B |
| Q4 25 | — | $463.0M | ||
| Q3 25 | $57.6M | $253.0M | ||
| Q2 25 | $63.6M | $180.0M | ||
| Q1 25 | $36.2M | $286.0M | ||
| Q4 24 | — | $148.0M | ||
| Q3 24 | $366.8M | $156.0M | ||
| Q2 24 | $304.4M | $203.0M | ||
| Q1 24 | — | $210.0M |
| 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 24 | — | — |
| Q4 25 | — | 7.7% | ||
| Q3 25 | 2.2% | 5.2% | ||
| Q2 25 | 3.3% | 6.1% | ||
| Q1 25 | 3.7% | 7.0% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | 7.7% | 3.8% | ||
| Q2 24 | 9.1% | 5.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | 1.3% | 4.1% | ||
| Q2 25 | 2.1% | 3.2% | ||
| Q1 25 | 2.7% | 5.4% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | 6.2% | 2.8% | ||
| Q2 24 | 7.5% | 4.2% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | — | $6.91 | ||
| Q3 25 | — | $3.81 | ||
| Q2 25 | — | $2.70 | ||
| Q1 25 | — | $4.27 | ||
| Q4 24 | — | $2.21 | ||
| Q3 24 | — | $2.33 | ||
| Q2 24 | — | $3.03 | ||
| Q1 24 | — | $3.16 |
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 | $4.2B |
| Total DebtLower is stronger | — | $5.7B |
| Stockholders' EquityBook value | $3.9B | $13.5B |
| Total Assets | $13.5B | $156.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.2B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.7B | $5.4B | ||
| Q1 25 | $1.7B | $5.2B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $1.9B | $5.2B | ||
| Q2 24 | $1.9B | $4.6B | ||
| Q1 24 | — | $5.9B |
| Q4 25 | — | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | — | $13.5B | ||
| Q3 25 | $3.9B | $13.0B | ||
| Q2 25 | $3.9B | $12.1B | ||
| Q1 25 | $3.9B | $11.4B | ||
| Q4 24 | — | $10.8B | ||
| Q3 24 | $3.7B | $11.1B | ||
| Q2 24 | $3.7B | $9.7B | ||
| Q1 24 | — | $9.5B |
| Q4 25 | — | $156.6B | ||
| Q3 25 | $13.5B | $152.0B | ||
| Q2 25 | $13.5B | $133.5B | ||
| Q1 25 | $13.5B | $128.2B | ||
| Q4 24 | — | $118.7B | ||
| Q3 24 | $11.9B | $120.3B | ||
| Q2 24 | $11.9B | $109.9B | ||
| Q1 24 | — | $106.0B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.47× |
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 | $7.3B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -3.26× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3B | ||
| Q3 25 | $-187.7M | $-990.0M | ||
| Q2 25 | — | $-820.0M | ||
| Q1 25 | — | $-1.4B | ||
| Q4 24 | — | $17.1B | ||
| Q3 24 | — | $-1.1B | ||
| Q2 24 | — | $-967.0M | ||
| Q1 24 | — | $-5.7B |
| Q4 25 | — | 15.83× | ||
| Q3 25 | -3.26× | -3.91× | ||
| Q2 25 | — | -4.56× | ||
| Q1 25 | — | -5.00× | ||
| Q4 24 | — | 115.81× | ||
| Q3 24 | — | -6.84× | ||
| Q2 24 | — | -4.76× | ||
| Q1 24 | — | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
