Canadian Solar reported $456M of remaining performance obligations at 31 Dec 2025, up 9% from a year earlier. That is 0.1 years of trailing revenue already under contract.
Customer prepayments (contract liabilities) cover 104.1% of the backlog.
Twelve-month book-to-bill: 1.01, i.e. 1.01 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +16 points — orders are running ahead of revenue.
The latest filed figure is more than 200 days old.
Canadian Solar backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2025
$456M
$5.60B
0.1 yrs
$475M
31 Dec 2024
$417M
$5.99B
0.1 yrs
$459M
31 Dec 2023
$726M
$7.61B
0.1 yrs
$778M
31 Dec 2022
$407M
$7.47B
0.1 yrs
$407M
31 Dec 2021
$234M
$5.28B
0.0 yrs
$234M
Questions
What is Canadian Solar's backlog?
Canadian Solar reported $456M of remaining performance obligations at 31 Dec 2025, up 9% from a year earlier. That is 0.1 years of trailing revenue already under contract.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.