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

201.67 5.91 +3.02%

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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

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

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Columns are period end dates · fundamentals updated 2 Nov 2026

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