Friday 6 November 2026 Export FSLR’s income statement to Excel — free account

First Solar, Inc.

FSLR Technology Solar

First Solar, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.2 billion, up 24.1% from fiscal 2024.

Revenue: −22.8%
EPS: +25.0%
Free cash flow: −118.5%
Total debt: −80.6%

Quarter to September 2026, against a year earlier

199.66 3.90 +1.99%

Follow FSLR

Alert me

Market cap: $21.0B
P/E: 11.4×
Fwd P/E: 10.1×
Dividend yield: —
F-score: 7/9
Altman Z: 6.28
Beneish M: −2.54
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Older periods	Dec '25	Mar '26	Jun '26	Sep '26
P/E ratio Full definition →	+8 more quarters Free account	18.33	12.71	14.51	10.11
P/S ratio Full definition →		5.37	3.91	4.71	3.75
P/FCF ratio Full definition →		23.60	12.70	16.90	80.87
P/Operating CF Full definition →		22.56	(98.56)	(174.99)	(438.33)
P/B ratio Full definition →		2.94	2.14	2.46	1.73
Price to Tangible BV Full definition →		2.96	2.16	2.48	1.74
EV/Sales Full definition →		4.92	3.54	4.44	3.50
EV/EBITDA Full definition →		12.07	8.44	10.02	7.07
EV/Operating CF Full definition →		12.47	7.83	11.09	20.91
EV/FCF Full definition →		21.61	11.50	15.94	75.37
Quick Ratio Full definition →		2.06	1.85	1.65	1.70
Current Ratio Full definition →		2.67	2.56	2.52	2.57
Net Debt/EBITDA Full definition →		(3.38)	(4.06)	(2.82)	(2.18)
Debt/Assets Full definition →		3.74%	3.19%	0.28%	0.77%
Debt/Equity Full definition →		0.05	0.04	0.00	0.01
Asset Turnover Full definition →		0.41	0.43	0.41	0.36
Operating CF/Net income Full definition →		2.38	(0.62)	(0.34)	(0.08)
Capex/Depreciation Full definition →		(1.15)	(0.80)	(1.09)	(1.05)
Interest Coverage Full definition →		48.48	45.35	80.96	228.50
Research and Development Expense of Revenue Full definition →		3.92%	6.41%	7.22%	5.46%
Selling, General and Administrative Expense of Revenue Full definition →		3.01%	6.26%	4.92%	5.31%
Intangible Assets out of Total Assets Full definition →		0.01	0.01	0.01	0.01
Share Based Compensation of Revenue Full definition →		0.15%	0.65%	0.67%	0.74%
Graham Net Nets Full definition →		0.08	0.10	0.09	0.12
Graham Number Full definition →		168.87	179.26	187.44	198.65
Earnings Yield Full definition →		5.45%	7.87%	6.89%	9.89%
Free Cash Flow Yield Full definition →		4.24%	7.88%	5.92%	1.24%
Revenue per Share Full definition →		15.69	9.73	9.83	11.45
Operating CF per Share Full definition →		11.58	(2.00)	(1.35)	(0.40)
Capex per Share Full definition →		(1.60)	(1.10)	(1.50)	(1.44)
Free Cash Flow per Share Full definition →		9.98	(3.11)	(2.85)	(1.84)
Cash per Share Full definition →		26.63	22.60	16.07	15.11
Shareholders Equity per Share Full definition →		88.94	92.02	96.04	101.24
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		88.94	92.02	96.04	101.24
Free Cash Flow Full definition →		1,070.17	(333.39)	(306.22)	(197.76)
Working Capital Full definition →		3,774.73	3,437.42	3,205.40	3,243.24
Capital Expenditures Full definition →		(171.73)	(118.53)	(161.32)	(154.81)
Net Current Asset Value Full definition →		2,245.52	2,173.21	2,248.96	2,168.62
EV/EBIT Full definition →		16.07	11.14	13.21	9.28
Capex to Sales Full definition →		0.10	0.11	0.15	0.13
Price to Operating Income Full definition →		17.54	12.31	14.01	9.96
Other line items
Average Receivables Full definition →		1,729.22	1,739.55	1,987.14	2,002.06
Average Payables Full definition →		443.98	367.32	356.99	311.37
Average Inventory Full definition →		910.56	1,090.00	1,251.06	1,119.72
Average Assets Full definition →		12,722.84	12,733.89	13,123.32	13,739.67
Average Common Equity Full definition →		8,757.79	9,032.95	9,433.24	9,948.02

Show all line items

Columns are period end dates · fundamentals updated 2 Nov 2026

Stockrow Weekly