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Company research / FSLR

First Solar, Inc. (FSLR)

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SEC name FIRST SOLAR, INC. · CIK 0001274494 · Nasdaq · Semiconductors & Related Devices

  • Sector Manufacturing
  • Incorporated DE
  • Fiscal year ends around Dec 31

For the year ended 2025-12-31, First Solar, Inc. reported revenue of $5.22B. Revenue grew 24.1% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $5.38B.

Key ratios (year ended 2025-12-31)

40.6%
Gross margin
30.6%
Operating margin
29.3%
Net margin
16.0%
Return on year-end equity
24.1%
Revenue growth (YoY)

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Latest selected filing: Form 4 (ownership change) · 2026-10-02

Headquarters locality: Tempe · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$5.38B$5.22B$4.21B$3.32B$2.62B$2.92B$2.71B$3.06B$2.24B$2.94B$2.90B
Cost of Revenue$3.01B$3.10B$2.35B$2.02B$2.55B$2.19B$2.03B$2.51B$1.85B$2.39B$2.27B
Gross Profit$2.37B$2.12B$1.86B$1.30B$69.86M$729.95M$680.67M$549.21M$392.18M$548.95M$638.42M
R&D Expense$269.73M$233.42M$191.38M$152.31M$112.80M$99.11M$93.74M$96.61M$84.47M$88.57M$124.76M
Operating Income$1.81B$1.60B$1.39B$857.27M-$27.24M$586.75M$317.49M-$161.78M$40.11M$177.85M-$568.15M
Depreciation & Amortizationn/a$529.22M$423.50M$307.99M$269.72M$259.90M$232.93M$205.47M$130.74M$115.31M$230.94M
EBITDAn/a$2.13B$1.82B$1.17B$242.49M$846.65M$550.41M$43.69M$170.85M$293.16M-$337.21M
Net Income$1.75B$1.53B$1.29B$830.78M-$44.17M$468.69M$398.36M-$114.93M$144.33M-$165.62M-$416.11M
EPS (Diluted)n/a$14.21$12.02$7.74-$0.41$4.38$3.73-$1.09$1.36-$1.59-$4.05
Total Assets$13.39B$13.32B$12.12B$10.37B$8.25B$7.41B$7.11B$7.52B$7.12B$6.86B$6.82B
Total Liabilities$3.07B$3.78B$4.15B$3.68B$2.42B$1.45B$1.59B$2.42B$1.91B$1.77B$1.61B
Long-Term Debtn/an/an/an/a$185.00M$246.74M$287.15M$482.89M$479.16M$406.39M$196.69M
Shareholders' Equity$10.32B$9.54B$7.98B$6.69B$5.84B$5.96B$5.52B$5.10B$5.21B$5.10B$5.22B
Cash & Equivalents$1.69B$2.80B$1.62B$1.95B$1.48B$1.45B$1.23B$1.35B$1.40B$2.27B$1.35B
Operating Cash Flow$2.16B$2.06B$1.22B$602.26M$873.37M$237.56M$37.12M$174.20M-$326.81M$1.34B$206.75M
Capital Expenditures$655.62M$869.88M$1.53B$1.39B$903.61M$540.29M$416.63M$668.72M$739.84M$514.36M$229.45M
Free Cash Flow$1.50B$1.19B-$308.08M-$784.51M-$30.24M-$302.73M-$379.51M-$494.52M-$1.07B$826.32M-$22.70M
Shares Outstanding107.47M107.31M107.06M106.85M106.61M106.33M105.98M105.45M104.89M104.47M104.03M
Weighted Average Diluted Sharesn/a107.54M107.53M107.37M106.55M106.92M106.69M105.31M106.11M104.33M102.87M
EPS (Basic)n/a$14.25$12.07$7.78-$0.41$4.41$3.76-$1.09$1.38-$1.59-$4.05

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