First Solar, Inc.

First Solar, Inc.

FSLR
First Solar, Inc.US flagNASDAQ Global Select
177.71
USD
+5.55
- -
19.10BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
35.32
33.9
40.77
28.24
28.19
21.42
29.09
25.61
27.51
24.58
31.07
39.31
48.67
50.1
Basic EPS, GAAP
3.74
3.96
5.88
-4.05
-1.59
1.38
-1.09
3.76
4.41
-0.41
7.78
12.07
14.25
16.27
Free Cash Flow per Basic Share
6.12
4.78
-4.87
-0.22
7.92
-10.18
-4.7
-3.58
-2.85
-0.28
-7.35
-2.88
11.07
13.97
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
45.25
49.77
54.52
50.16
48.81
49.7
48.33
52.09
56.05
54.74
62.59
74.51
88.88
96.03
Tangible Book Value per Share
43.22
47.73
52.61
49.18
47.9
48.85
47.58
51.43
55.48
54.32
61.71
73.74
88.12
95.16
Basic Weighted Avg Shares
94
100
101
103
104
105
105
106
106
107
107
107
107
107
Sales/Revenue/Turnover
3,310
3,391
4,113
2,905
2,941
2,244
3,063
2,711
2,923
2,619
3,319
4,206
5,219
5,378
Operating Margin (%)
13.82
12.44
17.75
8.63
7.31
1.79
6.57
11.93
15.03
-10.72
26.7
33.13
30.59
33.65
Depreciation Expense
234
246
258
231
115
131
205
233
260
270
308
423
529
576
Net Income, GAAP
351
396
593
-416
-166
144
-115
398
469
-44
831
1,292
1,528
1,746
Effective Tax Rate (%)
7.9
7.22
4.41
- -
184.05
3.04
- -
- -
18.08
613.68
6.79
8.13
3.33
4.35
Profit Margin (%)
10.6
11.68
14.43
-14.33
-5.63
6.43
-3.75
14.69
16.03
-1.69
25.03
30.72
29.28
32.47
Working Capital
2,205
2,077
2,385
2,880
3,182
3,014
2,282
2,167
2,464
2,753
3,329
3,012
3,775
3,205
LT Debt
163
162
251
187
424
461
567
427
382
225
518
469
421
142
Total Equity
4,503
4,991
5,548
5,218
5,099
5,212
5,097
5,521
5,960
5,836
6,687
7,978
9,538
10,320
Return on Invested Capital (%)
9.48
7.89
12.65
- -
-3.29
0.69
- -
- -
5.78
23.05
12.25
15.83
16.2
17.04
Return on Capital (%)
7.93
8.01
10.87
- -
-3.41
3.02
- -
- -
7.76
-1.72
12.6
16.59
16.63
17.72
Return on Common Equity (%)
8.65
8.34
11.26
-7.73
-3.21
2.8
-2.23
7.5
8.17
-0.75
13.27
17.62
17.45
18.51

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
234
206
52
LT Borrowings
283
237
- -
LT Finance Leases
139
144
142
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
107
107
107
Market Capitalization
28,033
21,196
25,358

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
6,029
5,646
5,317
Cash, Cash Equivalents & STI
2,855
2,427
1,727
Accounts Receivable, Net
1,294
1,374
1,476
Inventories
1,073
1,229
1,426
Total Current Liabilities
2,254
2,208
2,112
Payables & Accruals
887
758
781
ST Debt
234
206
52
Deferred Revenue
1,014
1,203
1,179

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.94%
11.86%
19.56%
Free Cash Flow
-230.34%
367.66%
-485.37%
Net Income, GAAP
-304.27%
-399.8%
18.28%
Sales/Revenue/Turnover
4.82%
14.99%
24.09%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
794
1,010
888
1,514
4,206
2025
845
1,097
1,595
1,683
5,219
2026
1,044
1,056
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.21
3.26
2.92
3.67
12.07
2025
1.96
3.19
4.25
4.85
14.25
2026
3.23
3.93
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Mark R. Widmar
Full Time Employees
7,900
Sector
Energy
Industry
Solar
Address
4300 E Camelback Road, Suite 220 Phoenix AZ United States of America 85018
IPO Date
Nov 17, 2006
Business
First Solar, Inc. First Solar, Inc. manufactures and sells cadmium telluride (CdTe) thin-film photovoltaic (PV) solar modules, including Series 6 Plus, Series 6 Plus Bifacial, Series 6 Plus V2 with CuRe technology for reduced degradation, Series 6 Plus SHL for high-wind coastal regions, and Series 7 modules; provides operations and maintenance (O&M) services, engineering procurement and construction (EPC) for utility-scale projects, and end-of-life module recycling at its facilities. The company serves utilities, independent power producers, commercial and industrial customers, and system developers with advanced solar energy solutions offering superior performance in degradation rates, temperature coefficients, spectral response, and shading. First Solar operates manufacturing plants in the United States (Ohio, Alabama, Louisiana), Malaysia, Vietnam, and India, targeting utility-scale solar power plants and distributed generation in regions including the United States, France, India, Chile, and other international markets. Founded in 1999 and headquartered in Tempe, Arizona, the company maintains a vertically integrated production process that converts glass sheets into functional panels in approximately four hours using 98 percent less semiconductor material than crystalline silicon panels, resulting in the industry's lowest carbon footprint, water usage, and energy payback time. Recent developments include the opening of a $1.1 billion manufacturing facility in Trinity, Alabama, in September 2024 and commissioning of a new plant in New Iberia, Louisiana, in 2025 to expand U.S. capacity beyond 14 GW by 2026; an expanded critical materials supply agreement with 5N Plus Inc. in August 2025 for increased semiconductor volumes through 2028 supporting U.S. manufacturing scale-up; sale of $857 million in Inflation Reduction Act transferable tax credits from 2024 U.S. production in February 2025; the 2024 commissioning of the 1.3 million square-foot Jim Nolan Center for Solar Innovation R&D facility in Lake Township, Ohio; and the 2023 acquisition of Evolar for perovskite technology integration.

Company News

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