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

201.73 5.97 +3.05%

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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
Piotroski F-Score Full definition →	6	8	7	7	+8 more TTM periods Free account
ROE Full definition →	18.71%	18.51%	18.44%	17.45%
ROA Full definition →	13.55%	13.30%	13.08%	12.01%
ROIC Full definition →	12.61%	13.10%	13.65%	13.90%
Return on Tangible Assets Full definition →	20.97%	19.73%	18.29%	16.17%
Average Days of Receivables Full definition →	136.70	119.50	111.75	125.43
Free Cash Flow per Share Full definition →	2.17	13.96	15.54	11.07
Free Cash Flow Full definition →	232.79	1,500.12	1,667.78	1,187.23
Capital Expenditures Full definition →	(606.39)	(655.62)	(782.44)	(869.87)
Other line items
Cash ROIC Full definition →	1.85%	12.41%	13.10%	9.21%
Accounts Receivable Turnover Full definition →	2.50	2.71	3.12	3.02
Accounts Payable Turnover Full definition →	8.17	8.43	8.59	6.98
Inventory Turnover Full definition →	2.27	2.41	2.90	3.40
Average Days of Payables Full definition →	48.51	41.99	35.48	47.79
Days of Inventory on Hand Full definition →	163.32	131.91	103.35	86.77
Tax Rate Full definition →	(0.04)	(0.04)	(0.03)	(0.03)
Research and Development Expense of Revenue Full definition →	5.51%	5.02%	4.58%	4.47%
Selling, General and Administrative Expense of Revenue Full definition →	4.65%	4.00%	3.98%	3.90%
Share Based Compensation of Revenue Full definition →	0.51%	0.44%	0.43%	0.37%
Interest Coverage Full definition →	70.33	46.88	40.76	36.18
Operating CF/Net income Full definition →	0.45	1.23	1.47	1.35
Depreciation/Fixed assets Full definition →	0.11	0.10	0.10	0.09
Capex/Depreciation Full definition →	(1.02)	(1.14)	(1.42)	(1.64)
Revenue per Share Full definition →	46.66	50.05	50.48	48.67
Operating CF per Share Full definition →	7.81	20.06	22.82	19.18
Capex per Share Full definition →	(5.64)	(6.10)	(7.29)	(8.11)
Capex to Sales Full definition →	0.12	0.12	0.14	0.17

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Columns are period end dates · fundamentals updated 2 Nov 2026

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