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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

199.08 3.32 +1.70%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

First Solar, Inc. (FSLR) Current ratio

Alert me on Current ratio

First Solar, Inc.'s current ratio at the end of the quarter to 30 September 2026 was 2.6×, down 0.1× from fiscal 2025 (2.7×). Over the past ten years it has ranged from 2.4× (fiscal 2024) to 5.9× (fiscal 2017); the current reading is higher than 18% of that period. That is above the Solar industry median of 1.5× and above the Technology sector median of 1.9×.

Current ratio, annual

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Annual newest first

Period Current ratio Change
FY2025 2.7× 9.18%
FY2024 2.4× (30.96%)
FY2023 3.5× (2.85%)
FY2022 3.7× (16.81%)
FY2021 4.4× 23.41%
FY2020 3.6× 30.26%
FY2019 2.7× (40.18%)
FY2018 4.6× (22.55%)
FY2017 5.9× 41.27%
FY2016 4.2× 19.82%

Quarterly newest first

Period Current ratio Change
Sep 2026 2.6× 2.11%
Jun 2026 2.5× (1.52%)
Mar 2026 2.6× (4.41%)
Dec 2025 2.7× 40.03%
43 more quarters

Against its own ten years

Low 2.4× High 5.9×
Ten-year median 3.6×
Current reading's percentile 18

Current ratio against peers

Company Current ratio
DQ DAQO New Energy Corp. compare 4.5×
ENPH Enphase Energy, Inc. compare 4.1×
FSLR First Solar, Inc. 2.6×
SHLS Shoals Technologies Group, Inc. compare 2.5×
NXT Nextpower Inc. compare 2.2×
ARRY Array Technologies, Inc. compare 2.2×
SEDG SolarEdge Technologies, Inc. compare 2.1×
RUN Sunrun Inc. compare 1.5×
JKS Jinko Holdings Limited - Unsponsored ADR compare 1.1×
Solar industry median 1.5×
Technology sector median 1.9×
Market median 1.6×

What Current ratio is

Current Ratio shows whether a company’s short-term assets are enough to cover the bills and debts it must pay within the next year.

Current Assets (Total) ÷ Current Liabilities (Total)

The full definition of Current ratio →

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