First Solar
FSLR
180.13
+0.33
+0.18%
First Solar
US · FSLR
#963 by market cap
Listed 1970
180.13
+0.33
+0.18%
Live - 5344 symbols - heartbeat 533s ago
· 2026-10-08 07:39
Pre-market
177.75
-1.32%
After-hours
180.13
0.00%
Overnight
179.79
-0.19%
- Market cap
- 19.36B
- P/E (TTM)i
- 11.11
- P/Bi
- 1.88
- EPSi
- 14.21
- Div yieldi
- 0.00%
- 52W posi
- 8%
Reader sentiment
Are you bullish or bearish on FSLR?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 4.91, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +24.09% YoY
Margins
- Gross margin
- 40.62%
- Operating margin
- 30.59%
- Net margin
- 29.28%
Key ratios & quality
- Enterprise valuei
- 17.02B
- Altman Z-Scorei
- 4.91
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.24B | 3.06B | 2.71B | 2.92B | 2.62B | 3.32B | 4.21B | 5.22B |
| Gross profit | 392.18M | 549.21M | 680.67M | 729.95M | 69.86M | 1.30B | 1.86B | 2.12B |
| Selling & admin expenses | 176.86M | 205.47M | 222.92M | 170.32M | 164.72M | 197.62M | 188.26M | 203.76M |
| Research & development | 84.47M | 96.61M | 93.74M | 99.12M | 112.80M | 152.31M | 191.38M | 233.42M |
| Operating profit | 40.11M | 201.22M | 323.49M | 439.47M | -280.75M | 885.97M | 1.39B | 1.60B |
| Pretax profit | 113.15M | -120.13M | 293.19M | 572.16M | 8.60M | 891.29M | 1.41B | 1.58B |
| Tax | 3.44M | -5.48M | -107.29M | 103.47M | 52.76M | 60.51M | 114.29M | 52.68M |
| Net profit | 144.33M | -114.93M | 398.36M | 468.69M | -44.17M | 830.78M | 1.29B | 1.53B |
| Basic EPS | 1 | -1 | 4 | 4 | 0 | 8 | 12 | 14 |
| Diluted EPS | 1.36 | -1.09 | 3.73 | 4.38 | -0.41 | 7.74 | 12.02 | 14.21 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 844.57M | 1.10B | 1.59B | 1.68B | 1.04B | 1.06B |
| Gross profit | 344.40M | 499.85M | 610.75M | 665.34M | 486.13M | 605.00M |
| Selling & admin expenses | 53.16M | 52.59M | 47.32M | 50.68M | 65.33M | 51.95M |
| Research & development | 52.39M | 54.49M | 60.59M | 65.95M | 66.94M | 76.24M |
| Operating profit | 221.24M | 361.61M | 466.10M | 547.92M | 345.30M | 450.39M |
| Pretax profit | 217.06M | 352.17M | 460.35M | 551.34M | 354.33M | 459.38M |
| Tax | 7.52M | 10.30M | 4.40M | 30.46M | 7.72M | 36.81M |
| Net profit | 209.54M | 341.87M | 455.94M | 520.88M | 346.62M | 422.57M |
| Basic EPS | 2 | 3 | 4 | 5 | 3 | 4 |
| Diluted EPS | 1.95 | 3.18 | 4.24 | 4.84 | 3.22 | 3.92 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 3.86B | 3.60B | 3.01B | 3.19B | 3.79B | 4.63B | 5.09B | 6.03B |
| Cash & ST investments | 2.55B | 2.16B | 1.75B | 1.83B | 2.58B | 2.10B | 1.79B | 2.86B |
| Inventory | 444.82M | 497.10M | 702.12M | 819.40M | 783.30M | 1.01B | 1.35B | 1.07B |
| Total assets | 7.12B | 7.52B | 7.11B | 7.41B | 8.25B | 10.37B | 12.12B | 13.32B |
| Total current liabilities | 845.46M | 1.32B | 847.40M | 726.88M | 1.04B | 1.31B | 2.08B | 2.25B |
| Short-term debt | 5.57M | 28.61M | 55.55M | 16.68M | 9.19M | 106.60M | 249.71M | 234.07M |
| Long-term debt | 461.22M | 454.19M | 237.69M | 236.01M | 184.35M | 464.07M | 373.35M | 282.59M |
| Total liabilities | 1,908,959,000.00 | 2,418,922,000.00 | 1,588,003,000.00 | 1,454,195,000.00 | 2,415,173,000.00 | 3,677,663,000.00 | 4,146,784,000.00 | 3,783,317,000.00 |
| Total equity | 5.21B | 5.10B | 5.52B | 5.96B | 5.84B | 6.69B | 7.98B | 9.54B |
| Retained earnings | 2.44B | 2.33B | 2.72B | 3.18B | 3.14B | 3.97B | 5.26B | 6.79B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 4.57B | 5.42B | 5.90B | 6.03B | 5.65B | 5.32B |
| Cash & ST investments | 890.76M | 1.15B | 2.04B | 2.86B | 2.43B | 1.73B |
| Inventory | 1.57B | 1.72B | 1.43B | 1.07B | 1.23B | 1.43B |
| Total assets | 12.12B | 12.86B | 13.46B | 13.32B | 13.35B | 13.39B |
| Total current liabilities | 2.37B | 2.85B | 3.09B | 2.25B | 2.21B | 2.11B |
| Short-term debt | 210.86M | 660.82M | 484.83M | 234.07M | 205.90M | 52.01M |
| Long-term debt | 327.94M | 327.97M | 282.57M | 282.59M | 237.18M | -- |
| Total liabilities | 3,929,331,000.00 | 4,311,914,000.00 | 4,443,997,000.00 | 3,783,317,000.00 | 3,472,529,000.00 | 3,068,260,000.00 |
| Total equity | 8.19B | 8.55B | 9.02B | 9.54B | 9.88B | 10.32B |
| Retained earnings | 5.47B | 5.81B | 6.27B | 6.79B | 7.14B | 7.56B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -326.81M | 174.20M | 37.12M | 237.56M | 873.37M | 602.26M | 1.22B | 2.06B |
| Depreciation & amortization | 130.74M | 205.48M | 232.93M | 259.90M | 269.72M | 307.99M | 423.50M | 529.22M |
| Free cash flow | -1.07B | -494.52M | -379.52M | -302.73M | -30.24M | -784.52M | -308.08M | 1.19B |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 1.56B | 1.45B | 1.27B | 1.46B | 1.49B | 1.97B | 1.64B | 2.81B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -607.98M | 149.58M | 1.27B | 1.24B | -214.87M | -144.90M |
| Depreciation & amortization | 124.84M | 123.41M | 140.33M | 140.63M | 147.39M | 147.85M |
| Free cash flow | -813.95M | -138.56M | 1.07B | 1.07B | -333.40M | -306.22M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 844.02M | 1.18B | 2.00B | 2.81B | 2.38B | 1.70B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 2.80 | -2.23 | 7.50 | 8.17 | -0.75 | 13.27 | 17.62 | 17.45 |
| ROA %i | 2.06 | -1.57 | 5.45 | 6.45 | -0.56 | 8.93 | 11.49 | 12.01 |
| ROIC %i | 1.99 | -2.39 | 6.91 | 7.68 | -0.98 | 11.24 | 15.57 | 15.80 |
| 5-year avg ROE %i | 2.29 | 0.18 | -0.57 | 2.61 | 3.10 | 5.19 | 9.16 | 11.15 |
| EBIT margin %i | 6.20 | -3.04 | 11.70 | 20.02 | 0.80 | 27.25 | 34.36 | 31.13 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- | -- | 22.75 |
| Current ratioi | 4.57 | 2.73 | 3.56 | 4.39 | 3.65 | 3.55 | 2.45 | 2.67 |
| Quick ratioi | 3.74 | 2.18 | 2.41 | 3.14 | 2.80 | 2.69 | 1.73 | 2.13 |
| Debt / assetsi | 6.55 | 7.92 | 6.78 | 5.38 | 2.84 | 6.02 | 5.93 | 4.92 |
| LT debt / equityi | 8.85 | 11.12 | 7.73 | 6.41 | 3.85 | 7.74 | 5.88 | 4.42 |
| Interest coveragei | 5.37 | -3.44 | 13.20 | 44.65 | 1.70 | 69.75 | 37.18 | 36.82 |
| Revenue CAGR (3Y) %i | -18.28 | 1.79 | -2.68 | 9.22 | -5.08 | 6.97 | 12.89 | 25.84 |
| Net income CAGR (3Y) %i | -37.58 | -- | -- | 48.09 | -- | 27.76 | 40.22 | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 16.77 | 15.92 | 16.86 | 17.45 | 18.44 | 18.51 |
| ROA %i | 11.06 | 10.54 | 11.25 | 12.01 | 13.08 | 13.30 |
| ROIC %i | 14.96 | 14.06 | 15.13 | 15.80 | 16.77 | 16.67 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 33.05 | 31.81 | 30.09 | 31.13 | 32.49 | 34.66 |
| FCF / sales %i | -- | -- | 12.17 | 22.75 | 30.78 | 27.89 |
| Current ratioi | 1.93 | 1.90 | 1.91 | 2.67 | 2.56 | 2.52 |
| Quick ratioi | 1.20 | 1.22 | 1.39 | 2.13 | 1.92 | 1.71 |
| Debt / assetsi | 5.20 | 8.30 | 6.63 | 4.92 | 4.40 | 1.45 |
| LT debt / equityi | 5.12 | 4.75 | 4.52 | 4.42 | 3.86 | 1.38 |
| Interest coveragei | 35.91 | 35.79 | 34.76 | 36.82 | 41.70 | 48.29 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Design, manufacture, and sale of cadmium telluride (CdTe) solar modules, which convert sunlight into100.00%
Quote time 2026-10-08 07:39:31 · For reference only, not investment advice and not tailored to your situation.