First Solar (FSLR)

Nasdaq Information Technology Semiconductors S&P 500

$201.14

+5.38 (+2.75%)

Close of Nov 06, 2026 · end-of-day data

Source: First Solar's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.90B	$2.94B	$2.24B	$3.06B	$2.71B	$2.92B	$2.62B	$3.32B	$4.21B	$5.22B
Cost of revenue	$2.27B	$2.39B	$1.85B	$2.51B	$2.03B	$2.19B	$2.55B	$2.02B	$2.35B	$3.10B
Gross profit	$638.42M	$548.95M	$392.18M	$549.21M	$680.67M	$729.95M	$69.86M	$1.30B	$1.86B	$2.12B
Research & development	$124.76M	$88.57M	$84.47M	$96.61M	$93.74M	$99.11M	$112.80M	$152.31M	$191.38M	$233.42M
Selling, general & admin	$261.99M	$202.70M	$176.86M	$205.47M	$222.92M	$170.32M	$164.72M	$197.62M	$188.26M	$203.76M
Operating income	-$568.15M	$177.85M	$40.11M	-$161.78M	$317.49M	$586.75M	-$27.24M	$857.27M	$1.39B	$1.60B
Interest expense	$20.54M	$25.77M	$25.92M	$27.07M	$24.04M	$13.11M	$12.22M	$12.96M	$38.87M	$44.13M
Pre-tax income	-$537.25M	$202.12M	$113.15M	-$120.13M	$293.19M	$572.16M	$8.60M	$891.29M	$1.41B	$1.58B
Income tax	$23.17M	$372.00M	$3.44M	-$5.48M	-$107.29M	$103.47M	$52.76M	$60.51M	$114.29M	$52.68M
Net income	-$416.11M	-$165.62M	$144.33M	-$114.93M	$398.36M	$468.69M	-$44.17M	$830.78M	$1.29B	$1.53B
EBITDA	-$363.90M	$269.75M	$170.85M	$43.69M	$550.41M	$846.65M	$242.49M	$1.17B	$1.82B	$2.13B
EPS (basic)	$-4.05	$-1.59	$1.38	$-1.09	$3.76	$4.41	$-0.41	$7.78	$12.07	$14.25
EPS (diluted)	$-4.05	$-1.59	$1.36	$-1.09	$3.73	$4.38	$-0.41	$7.74	$12.02	$14.21
Diluted shares	102.87M	104.33M	106.11M	105.31M	106.69M	106.92M	106.55M	107.37M	107.53M	107.54M
Gross margin	22.0%	18.7%	17.5%	17.9%	25.1%	25.0%	2.7%	39.2%	44.2%	40.6%
Operating margin	-19.6%	6.0%	1.8%	-5.3%	11.7%	20.1%	-1.0%	25.8%	33.2%	30.6%
Net margin	-14.3%	-5.6%	6.4%	-3.8%	14.7%	16.0%	-1.7%	25.0%	30.7%	29.3%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.35B	$2.27B	$1.40B	$1.35B	$1.23B	$1.45B	$1.48B	$1.95B	$1.62B	$2.80B
Short-term investments	—	$720.38M	$1.14B	$811.51M	$520.07M	$375.39M	$1.10B	$155.50M	$171.58M	$51.85M
Receivables	$266.69M	$211.80M	$128.28M	$475.04M	$266.09M	$429.44M	$324.34M	$660.78M	$1.26B	$1.29B
Inventory	$363.22M	$172.37M	$387.91M	$443.51M	$567.59M	$666.30M	$621.38M	$819.90M	$1.08B	$736.73M
Total current assets	$3.79B	$3.83B	$3.86B	$3.60B	$3.01B	$3.19B	$3.79B	$4.63B	$5.09B	$6.03B
Goodwill	$14.46M	$14.46M	$14.46M	$14.46M	$14.46M	$14.46M	$14.46M	$29.69M	$28.34M	$31.09M
Total assets	$6.82B	$6.86B	$7.12B	$7.52B	$7.11B	$7.41B	$8.25B	$10.37B	$12.12B	$13.32B
Total current liabilities	$907.88M	$650.28M	$845.46M	$1.32B	$847.40M	$726.88M	$1.04B	$1.31B	$2.08B	$2.25B
Short-term debt	$27.97M	$13.07M	$5.57M	$17.51M	$41.54M	$3.90M	$0	$96.24M	$236.42M	$215.98M
Long-term debt	$196.69M	$406.39M	$479.16M	$454.19M	$237.69M	$236.00M	$184.35M	$464.07M	$373.35M	$282.59M
Total debt	$224.66M	$419.46M	$484.73M	$471.70M	$279.23M	$239.90M	$184.35M	$560.31M	$609.78M	$498.57M
Total liabilities	$1.61B	$1.77B	$1.91B	$2.42B	$1.59B	$1.45B	$2.42B	$3.68B	$4.15B	$3.78B
Shareholders' equity	$5.22B	$5.10B	$5.21B	$5.10B	$5.52B	$5.96B	$5.84B	$6.69B	$7.98B	$9.54B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$206.75M	$1.34B	-$326.81M	$174.20M	$37.12M	$237.56M	$873.37M	$602.26M	$1.22B	$2.06B
Capital expenditures	$229.45M	$514.36M	$739.84M	$668.72M	$416.63M	$540.29M	$903.61M	$1.39B	$1.53B	$869.88M
Free cash flow	-$22.70M	$826.32M	-$1.07B	-$494.52M	-$379.51M	-$302.73M	-$30.24M	-$784.51M	-$308.08M	$1.19B
Investing cash flow	$144.52M	-$626.80M	-$682.71M	-$362.30M	-$131.23M	-$99.04M	-$1.19B	-$472.79M	-$1.56B	-$765.17M
Financing cash flow	-$136.39M	$192.04M	$255.23M	$74.94M	-$82.59M	$40.55M	$309.39M	$336.85M	$24.85M	-$119.23M
Stock-based compensation	$28.71M	$35.12M	$34.15M	$37.43M	$29.27M	$20.90M	$28.66M	$34.22M	$28.10M	$19.22M
Depreciation & amortization	$204.25M	$91.90M	$130.74M	$205.47M	$232.93M	$259.90M	$269.72M	$307.99M	$423.50M	$529.22M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$1.16B	$794.11M	$1.01B	$887.67M	$1.51B	$844.57M	$1.10B	$1.59B	$1.68B	$1.04B	$1.06B	$1.23B
Cost of revenue	$656.52M	$448.11M	$511.59M	$442.36M	$946.37M	$500.17M	$597.32M	$984.11M	$1.02B	$558.11M	$451.19M	$517.88M
Gross profit	$502.03M	$346.00M	$498.89M	$445.31M	$567.66M	$344.40M	$499.85M	$610.75M	$665.34M	$486.13M	$605.00M	$713.06M
Research & development	$43.86M	$42.74M	$51.94M	$50.20M	$46.50M	$52.39M	$54.49M	$60.59M	$65.95M	$66.94M	$76.24M	$67.22M
Selling, general & admin	$57.09M	$45.83M	$46.56M	$46.29M	$49.58M	$53.16M	$52.59M	$47.32M	$50.68M	$65.33M	$51.95M	$65.33M
Operating income	$397.78M	$243.14M	$372.51M	$322.00M	$456.77M	$221.24M	$361.61M	$466.10M	$547.92M	$345.30M	$450.39M	$546.11M
Interest expense	$7.07M	$9.21M	$9.77M	$9.01M	$10.89M	$9.53M	$9.18M	$14.12M	$11.30M	$7.62M	$5.56M	$2.39M
Pre-tax income	$376.68M	$255.52M	$377.13M	$327.34M	$446.35M	$217.06M	$352.17M	$460.35M	$551.34M	$354.33M	$459.38M	$566.03M
Income tax	$27.44M	$18.90M	$27.77M	$14.39M	$53.23M	$7.52M	$10.30M	$4.40M	$30.46M	$7.71M	$36.81M	-$5.03M
Net income	$349.24M	$236.62M	$349.36M	$312.96M	$393.12M	$209.53M	$341.87M	$455.94M	$520.88M	$346.62M	$422.57M	$571.06M
EBITDA	$487.48M	$333.73M	$469.85M	$433.16M	$581.19M	$346.09M	$485.02M	$598.37M	$696.61M	$492.70M	$598.23M	$694.14M
EPS (basic)	$3.27	$2.21	$3.26	$2.92	$3.67	$1.96	$3.19	$4.25	$4.85	$3.23	$3.93	$5.31
EPS (diluted)	$3.25	$2.20	$3.25	$2.91	$3.66	$1.95	$3.18	$4.24	$4.84	$3.22	$3.92	$5.30
Diluted shares	46.00K	107.41M	107.53M	107.56M	11.00K	107.42M	107.52M	107.54M	45.00K	107.62M	107.73M	107.70M
Gross margin	43.3%	43.6%	49.4%	50.2%	37.5%	40.8%	45.6%	38.3%	39.5%	46.6%	57.3%	57.9%
Operating margin	34.3%	30.6%	36.9%	36.3%	30.2%	26.2%	33.0%	29.2%	32.6%	33.1%	42.6%	44.4%
Net margin	30.1%	29.8%	34.6%	35.3%	26.0%	24.8%	31.2%	28.6%	31.0%	33.2%	40.0%	46.4%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$1.95B	$1.68B	$1.70B	$1.01B	$1.62B	$837.64M	$1.12B	$1.99B	$2.80B	$2.36B	$1.69B	$1.58B
Short-term investments	$155.50M	$308.02M	$37.43M	$264.69M	$171.58M	$53.12M	$29.10M	$47.75M	$51.85M	$63.58M	$38.69M	$48.07M
Receivables	$660.78M	$669.75M	$647.57M	$762.14M	$1.26B	$1.61B	$1.73B	$1.44B	$1.29B	$1.37B	$1.48B	$1.59B
Inventory	$819.90M	$970.87M	$1.03B	$1.25B	$1.08B	$1.29B	$1.41B	$1.10B	$736.73M	$893.88M	$1.09B	$1.14B
Total current assets	$4.63B	$4.24B	$3.95B	$3.82B	$5.09B	$4.57B	$5.42B	$5.90B	$6.03B	$5.65B	$5.32B	$5.31B
Goodwill	$29.69M	$28.73M	$28.83M	$29.59M	$28.34M	$29.71M	$30.55M	$30.68M	$31.09M	$30.58M	$30.14M	$29.80M
Total assets	$10.37B	$10.76B	$11.01B	$11.44B	$12.12B	$12.12B	$12.86B	$13.46B	$13.32B	$13.35B	$13.39B	$14.02B
Total current liabilities	$1.31B	$1.76B	$1.77B	$1.78B	$2.08B	$2.37B	$2.85B	$3.09B	$2.25B	$2.21B	$2.11B	$2.06B
Short-term debt	$96.24M	$200.91M	$140.18M	$208.26M	$236.42M	$197.20M	$249.89M	$272.40M	$215.98M	$188.59M	$37.63M	$107.67M
Long-term debt	$464.07M	$418.69M	$418.73M	$373.32M	$373.35M	$327.94M	$327.97M	$282.56M	$282.59M	$237.18M	$0	$0
Total debt	$560.31M	$619.60M	$558.90M	$581.58M	$609.78M	$525.14M	$577.87M	$554.96M	$498.57M	$425.78M	$37.63M	$107.67M
Total liabilities	$3.68B	$3.86B	$3.76B	$3.84B	$4.15B	$3.93B	$4.31B	$4.44B	$3.78B	$3.47B	$3.07B	$3.14B
Shareholders' equity	$6.69B	$6.90B	$7.26B	$7.59B	$7.98B	$8.19B	$8.55B	$9.02B	$9.54B	$9.88B	$10.32B	$10.88B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$561.11M	$267.72M	$193.01M	-$53.73M	$811.00M	-$607.98M	$149.58M	$1.27B	$1.24B	-$214.87M	-$144.90M	-$42.95M
Capital expenditures	$346.91M	$413.46M	$365.16M	$433.92M	$313.54M	$205.97M	$288.13M	$204.05M	$171.73M	$118.53M	$161.32M	$154.81M
Free cash flow	$214.20M	-$145.73M	-$172.15M	-$487.65M	$497.46M	-$813.95M	-$138.56M	$1.07B	$1.07B	-$333.39M	-$306.22M	-$197.76M
Investing cash flow	-$173.16M	-$568.63M	-$107.35M	-$665.95M	-$221.39M	-$88.21M	-$261.99M	-$227.73M	-$187.23M	-$148.53M	-$143.06M	-$136.47M
Financing cash flow	$60.74M	$40.70M	-$68.35M	$21.78M	$30.73M	-$99.62M	$446.62M	-$222.56M	-$243.67M	-$72.22M	-$391.73M	$69.97M
Stock-based compensation	$11.01M	$6.79M	$8.40M	$6.80M	$6.12M	$2.58M	$6.81M	$7.32M	$2.51M	$6.78M	$7.04M	$9.08M
Depreciation & amortization	$89.69M	$90.58M	$97.34M	$111.16M	$124.42M	$124.84M	$123.41M	$132.27M	$148.69M	$147.39M	$147.84M	$148.03M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.