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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and Sea Ltd (SE). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $4.5B, roughly 5.1× Canadian Solar Inc.). Sea Ltd 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.
Sea Limited is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
CSIQ vs SE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $22.9B |
| Net Profit | $57.6M | $1.6B |
| Gross Margin | 17.5% | 44.7% |
| Operating Margin | 2.2% | 8.7% |
| Net Margin | 1.3% | 7.0% |
| Revenue YoY | — | 363.4% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $2.52 |
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 | — | $22.9B | ||
| Q3 25 | $4.5B | $6.0B | ||
| Q2 25 | $3.0B | $5.3B | ||
| Q1 25 | $1.3B | $4.8B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | $5.9B | $4.3B | ||
| Q2 24 | $4.1B | $3.8B | ||
| Q1 24 | — | $3.7B |
| Q4 25 | — | $1.6B | ||
| Q3 25 | $57.6M | $375.0M | ||
| Q2 25 | $63.6M | $414.2M | ||
| Q1 25 | $36.2M | $-7.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $366.8M | — | ||
| Q2 24 | $304.4M | — | ||
| Q1 24 | — | $-23.0M |
| Q4 25 | — | 44.7% | ||
| Q3 25 | 17.5% | 43.4% | ||
| Q2 25 | 18.0% | 45.8% | ||
| Q1 25 | 19.0% | 46.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 18.7% | — | ||
| Q1 24 | — | 41.6% |
| Q4 25 | — | 8.7% | ||
| Q3 25 | 2.2% | 8.0% | ||
| Q2 25 | 3.3% | 9.3% | ||
| Q1 25 | 3.7% | 9.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 9.1% | — | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | 1.3% | 6.3% | ||
| Q2 25 | 2.1% | 7.9% | ||
| Q1 25 | 2.7% | -0.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | — | -0.6% |
| Q4 25 | — | $2.52 | ||
| Q3 25 | — | $0.59 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.65 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $10.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | $12.6B |
| Total Assets | $13.5B | $29.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.6B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | — | $8.6B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $12.6B | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | — | $8.4B | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $29.4B | ||
| Q3 25 | $13.5B | — | ||
| Q2 25 | $13.5B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | — | $22.6B | ||
| Q3 24 | $11.9B | — | ||
| Q2 24 | $11.9B | — | ||
| Q1 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 | $5.0B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -3.26× | 3.12× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.0B | ||
| Q3 25 | $-187.7M | $3.5B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $756.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $468.5M |
| Q4 25 | — | 3.12× | ||
| Q3 25 | -3.26× | 9.46× | ||
| Q2 25 | — | 5.73× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
