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Side-by-side financial comparison of Canadian Solar Inc. (CSIQ) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $4.5B, roughly 1.7× Canadian Solar Inc.). Canadian Solar Inc. runs the higher net margin — 1.3% vs 1.3%, a 0.0% 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.
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
CSIQ vs SW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $7.6B |
| Net Profit | $57.6M | $97.0M |
| Gross Margin | 17.5% | 18.2% |
| Operating Margin | 2.2% | 5.1% |
| Net Margin | 1.3% | 1.3% |
| Revenue YoY | — | 0.5% |
| Net Profit YoY | — | -33.6% |
| EPS (diluted) | — | $0.18 |
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 | — | $7.6B | ||
| Q3 25 | $4.5B | $8.0B | ||
| Q2 25 | $3.0B | $7.9B | ||
| Q1 25 | $1.3B | $7.7B | ||
| Q4 24 | — | $7.5B | ||
| Q3 24 | $5.9B | $7.7B | ||
| Q2 24 | $4.1B | $3.0B | ||
| Q1 24 | — | $2.9B |
| Q4 25 | — | $97.0M | ||
| Q3 25 | $57.6M | $246.0M | ||
| Q2 25 | $63.6M | $-28.0M | ||
| Q1 25 | $36.2M | $384.0M | ||
| Q4 24 | — | $146.0M | ||
| Q3 24 | $366.8M | $-150.0M | ||
| Q2 24 | $304.4M | $132.0M | ||
| Q1 24 | — | $191.0M |
| Q4 25 | — | 18.2% | ||
| Q3 25 | 17.5% | 19.6% | ||
| Q2 25 | 18.0% | 19.1% | ||
| Q1 25 | 19.0% | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | 18.0% | 17.6% | ||
| Q2 24 | 18.7% | 23.3% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | — | 5.1% | ||
| Q3 25 | 2.2% | 6.6% | ||
| Q2 25 | 3.3% | 3.2% | ||
| Q1 25 | 3.7% | 7.2% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | 7.7% | 0.7% | ||
| Q2 24 | 9.1% | 8.2% | ||
| Q1 24 | — | 10.5% |
| Q4 25 | — | 1.3% | ||
| Q3 25 | 1.3% | 3.1% | ||
| Q2 25 | 2.1% | -0.4% | ||
| Q1 25 | 2.7% | 5.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 6.2% | -2.0% | ||
| Q2 24 | 7.5% | 4.4% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $0.47 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.30 | ||
| Q2 24 | — | $0.51 | ||
| Q1 24 | — | $0.73 |
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 | $892.0M |
| Total DebtLower is stronger | — | $13.4B |
| Stockholders' EquityBook value | $3.9B | $18.3B |
| Total Assets | $13.5B | $45.2B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $892.0M | ||
| Q3 25 | $1.7B | $851.0M | ||
| Q2 25 | $1.7B | $778.0M | ||
| Q1 25 | $1.7B | $797.0M | ||
| Q4 24 | — | $855.0M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | $26.8K | ||
| Q1 24 | — | $108 |
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $18.3B | ||
| Q3 25 | $3.9B | $18.4B | ||
| Q2 25 | $3.9B | $18.3B | ||
| Q1 25 | $3.9B | $17.9B | ||
| Q4 24 | — | $17.4B | ||
| Q3 24 | $3.7B | $18.0B | ||
| Q2 24 | $3.7B | $14.5K | ||
| Q1 24 | — | $108 |
| Q4 25 | — | $45.2B | ||
| Q3 25 | $13.5B | $45.6B | ||
| Q2 25 | $13.5B | $45.7B | ||
| Q1 25 | $13.5B | $44.6B | ||
| Q4 24 | — | $43.8B | ||
| Q3 24 | $11.9B | $45.0B | ||
| Q2 24 | $11.9B | $26.8K | ||
| Q1 24 | — | $108 |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — | ||
| 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 | $1.2B |
| Free Cash FlowOCF − Capex | — | $612.0M |
| FCF MarginFCF / Revenue | — | 8.1% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | -3.26× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.2B | ||
| Q3 25 | $-187.7M | $1.1B | ||
| Q2 25 | — | $829.0M | ||
| Q1 25 | — | $235.0M | ||
| Q4 24 | — | $781.0M | ||
| Q3 24 | — | $320.0M | ||
| Q2 24 | — | $340.0M | ||
| Q1 24 | — | $42.0M |
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | — | $307.0M | ||
| Q1 25 | — | $-242.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | — | $-192.0M | ||
| Q2 24 | — | $163.0M | ||
| Q1 24 | — | $-166.0M |
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | -5.7% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 7.1% |
| Q4 25 | — | 12.32× | ||
| Q3 25 | -3.26× | 4.61× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.58× | ||
| Q1 24 | — | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSIQ
Segment breakdown not available.
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
