First Solar, Inc. financials
Source: EDGAR filings · Built 2026-06-19T02:25:00Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 1.19B | -308.08M | -784.51M | -30.24M | -302.73M | -379.51M |
| EBITDA | 2.13B | 1.82B | 1.17B | 242.49M | 846.65M | 550.41M |
| Working Capital | 3.77B | 3.01B | 3.33B | 2.75B | 2.46B | 2.17B |
| Net Debt | -2.15B | -902.57M | -1.32B | -1.25B | -1.05B | -736.81M |
| Gross Margin | 40.62% | 44.17% | 39.19% | 2.67% | 24.97% | 25.10% |
| Operating Margin | 30.59% | 33.15% | 25.83% | -1.04% | 20.07% | 11.71% |
| Net Margin | 29.28% | 30.72% | 25.03% | -1.69% | 16.03% | 14.69% |
| Return on Equity (ROE) | 16.02% | 16.20% | 12.42% | -0.76% | 7.86% | 7.22% |
| Return on Assets (ROA) | 11.47% | 10.66% | 8.02% | -0.54% | 6.32% | 5.60% |
| Current Ratio | 2.67× | 2.45× | 3.55× | 3.65× | 4.39× | 3.56× |
| Debt-to-Equity | 0.07× | 0.09× | 0.09× | 0.04× | 0.07× | 0.09× |
| Effective Tax Rate | 3.33% | 8.13% | 6.79% | 613.68% | 18.08% | -36.60% |
| Cash Conversion Ratio | 1.35× | 0.94× | 0.72× | -19.77× | 0.51× | 0.09× |
| Accruals Ratio | -0.04× | 0.01× | 0.02× | -0.11× | 0.03× | 0.05× |
| SBC % of Revenue | 0.37% | 0.67% | 1.03% | 1.09% | 0.71% | 1.08% |
| CapEx Coverage | 2.36× | 0.80× | 0.43× | 0.97× | 0.44× | 0.09× |
| Free Cash Flow Per Share | $11.04 | $-2.87 | $-7.31 | $-0.28 | $-2.83 | $-3.56 |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenues | 5.22B | 4.21B | 3.32B | 2.62B | 2.92B | 2.71B |
| Cost of Goods and Services Sold | 3.10B | 2.35B | 2.02B | 2.55B | 2.19B | 2.03B |
| Gross Profit | 2.12B | 1.86B | 1.30B | 69.86M | 729.95M | 680.67M |
| Research and Development Expense | 233.42M | 191.38M | 152.31M | 112.80M | 99.11M | 93.74M |
| Selling, General and Administrative Expense | 203.76M | 188.26M | 197.62M | 164.72M | 170.32M | 222.92M |
| Operating Expenses | 523.48M | 464.56M | 450.30M | 350.61M | 290.49M | 363.18M |
| Operating Income (Loss) | 1.60B | 1.39B | 857.27M | -27.24M | 586.75M | 317.49M |
| Income Tax Expense (Benefit) | 52.68M | 114.29M | 60.51M | 52.76M | 103.47M | -107.29M |
| Net Income (Loss) Attributable to Parent | 1.53B | 1.29B | 830.78M | -44.17M | 468.69M | 398.36M |
| Earnings Per Share, Basic | $14.25 | $12.07 | $7.78 | $-0.41 | $4.41 | $3.76 |
| Weighted Average Number of Shares Outstanding, Basic | 107.23M | 107.02M | 106.80M | 106.55M | 106.26M | 105.87M |
| Earnings Per Share, Diluted | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 |
| Weighted Average Number of Shares Outstanding, Diluted | 107.54M | 107.53M | 107.37M | 106.55M | 106.92M | 106.69M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 2.80B | 1.62B | 1.95B | 1.48B | 1.45B | 1.23B |
| Assets, Current | 6.03B | 5.09B | 4.63B | 3.79B | 3.19B | 3.01B |
| Assets | 13.32B | 12.12B | 10.37B | 8.25B | 7.41B | 7.11B |
| Long-term Debt | — | — | — | 185.00M | 246.74M | 287.15M |
| Liabilities, Current | 2.25B | 2.08B | 1.31B | 1.04B | 726.88M | 847.40M |
| Long-term Debt, Excluding Current Maturities | 282.59M | 373.35M | 464.07M | 184.35M | 236.00M | 237.69M |
| Liabilities | 3.78B | 4.15B | 3.68B | 2.42B | 1.45B | 1.59B |
| Stockholders' Equity Attributable to Parent | 9.54B | 7.98B | 6.69B | 5.84B | 5.96B | 5.52B |
| Common Stock, Shares, Outstanding | 107.31M | 107.06M | 106.85M | 106.61M | 106.33M | 105.98M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 2.06B | 1.22B | 602.26M | 873.37M | 237.56M | 37.12M |
| Payments to Acquire Property, Plant, and Equipment | 869.88M | 1.53B | 1.39B | 903.61M | 540.29M | 416.63M |
| Net Cash Provided by (Used in) Investing Activities | -765.17M | -1.56B | -472.79M | -1.19B | -99.04M | -131.23M |
| Net Cash Provided by (Used in) Financing Activities | -119.23M | 24.85M | 336.85M | 309.39M | 40.55M | -82.59M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -333.39M | 1.07B | 117.06M | -952.50M | -813.95M | 497.46M |
| EBITDA | 492.70M | 688.55M | — | — | 346.09M | 581.19M |
| Working Capital | 3.44B | 3.77B | 2.81B | 2.57B | 2.20B | 3.01B |
| Net Debt | -1.78B | -2.15B | -1.29B | -452.30M | -207.25M | -902.57M |
| Gross Margin | 46.55% | 39.54% | 38.29% | 45.56% | 40.78% | 37.49% |
| Operating Margin | 33.07% | 32.56% | 29.22% | 32.96% | 26.20% | 30.17% |
| Net Margin | 33.19% | 30.95% | 28.59% | 31.16% | 24.81% | 25.96% |
| Return on Equity (ROE) | 3.51% | 5.46% | 5.06% | 4.00% | 2.56% | 4.93% |
| Return on Assets (ROA) | 2.60% | 3.91% | 3.39% | 2.66% | 1.73% | 3.24% |
| Current Ratio | 2.56× | 2.67× | 1.91× | 1.90× | 1.93× | 2.45× |
| Debt-to-Equity | 0.06× | 0.07× | 0.08× | 0.08× | 0.08× | 0.09× |
| Effective Tax Rate | 2.18% | 5.52% | 0.96% | 2.92% | 3.47% | 11.93% |
| Cash Conversion Ratio | -0.62× | 2.38× | 1.79× | -1.34× | -2.90× | 2.06× |
| Accruals Ratio | 0.04× | -0.05× | -0.03× | 0.06× | 0.07× | -0.03× |
| SBC % of Revenue | 0.65% | 0.15% | 1.05% | 0.86% | 0.31% | 0.40% |
| CapEx Coverage | -1.81× | 7.23× | 1.17× | -0.93× | -2.95× | 2.59× |
| Free Cash Flow Per Share | $-3.10 | $9.95 | $1.09 | $-8.86 | $-7.58 | $4.63 |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenues | 1.04B | 1.68B | 1.59B | 1.10B | 844.57M | 1.51B |
| Cost of Goods and Services Sold | 558.11M | 1.02B | 984.11M | 597.32M | 500.17M | 946.37M |
| Gross Profit | 486.13M | 665.34M | 610.75M | 499.85M | 344.40M | 567.66M |
| Research and Development Expense | 66.94M | 65.95M | 60.59M | 54.49M | 52.39M | 46.50M |
| Selling, General and Administrative Expense | 65.33M | 50.68M | 47.32M | 52.59M | 53.16M | 49.58M |
| Operating Expenses | 140.83M | 117.42M | 144.65M | 138.24M | 123.16M | 110.89M |
| Operating Income (Loss) | 345.30M | 547.92M | 466.10M | 361.61M | 221.24M | 456.77M |
| Income Tax Expense (Benefit) | 7.71M | 30.46M | 4.40M | 10.30M | 7.52M | 53.23M |
| Net Income (Loss) Attributable to Parent | 346.62M | 520.88M | 455.94M | 341.87M | 209.53M | 393.12M |
| Earnings Per Share, Basic | $3.23 | $4.85 | $4.25 | $3.19 | $1.96 | $3.67 |
| Weighted Average Number of Shares Outstanding, Basic | 107.36M | 107.23M | 107.26M | 107.25M | 107.12M | 107.02M |
| Earnings Per Share, Diluted | $3.22 | $4.84 | $4.24 | $3.18 | $1.95 | $3.66 |
| Weighted Average Number of Shares Outstanding, Diluted | 107.62M | 107.54M | 107.54M | 107.52M | 107.42M | 107.53M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 2.36B | 2.80B | 1.99B | 1.12B | 837.64M | 1.62B |
| Assets, Current | 5.65B | 6.03B | 5.90B | 5.42B | 4.57B | 5.09B |
| Assets | 13.35B | 13.32B | 13.46B | 12.86B | 12.12B | 12.12B |
| Liabilities, Current | 2.21B | 2.25B | 3.09B | 2.85B | 2.37B | 2.08B |
| Long-term Debt, Excluding Current Maturities | 237.18M | 282.59M | 282.56M | 327.97M | 327.94M | 373.35M |
| Liabilities | 3.47B | 3.78B | 4.44B | 4.31B | 3.93B | 4.15B |
| Stockholders' Equity Attributable to Parent | 9.88B | 9.54B | 9.02B | 8.55B | 8.19B | 7.98B |
| Common Stock, Shares, Outstanding | 107.45M | 107.31M | 107.31M | 107.25M | 107.24M | 107.06M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -214.87M | 1.24B | 815.21M | -458.40M | -607.98M | 811.00M |
| Payments to Acquire Property, Plant, and Equipment | 118.53M | 171.73M | 698.15M | 494.10M | 205.97M | 313.54M |
| Net Cash Provided by (Used in) Investing Activities | -148.53M | -187.23M | -577.93M | -350.20M | -88.21M | -221.39M |
| Net Cash Provided by (Used in) Financing Activities | -72.22M | -243.67M | 124.44M | 347.00M | -99.62M | 30.73M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (FSLR CIK 0001274494),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.