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. In the quarter to June 2026, revenue fell 3.73%, EPS grew 23.2%, free cash flow fell 121.0% and total debt fell 93.5%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years.
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First Solar, Inc. (FSLR) EBITDA
First Solar, Inc.'s EBITDA for fiscal 2025 was $2.1B, up 17.0% from $1.8B in fiscal 2024. Over the twelve months to 30 June 2026 it was $2.4B. Over the past ten years it has ranged from −$337.2M (fiscal 2016) to $2.1B (fiscal 2025) — the current reading is the highest in ten years. EBITDA has risen for 3 consecutive fiscal years. First Solar, Inc. ranks 1st of 25 Solar companies by EBITDA.
EBITDA, annual
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Annual newest first
| Period | EBITDA | Change |
|---|---|---|
| FY2025 | $2.1B | 16.95% |
| FY2024 | $1.8B | 56.01% |
| FY2023 | $1.2B | 380.54% |
| FY2022 | $242.5M | (71.36%) |
| FY2021 | $846.7M | 53.82% |
| FY2020 | $550.4M | 1,159.82% |
| FY2019 | $43.7M | (74.43%) |
| FY2018 | $170.8M | (41.72%) |
| FY2017 | $293.2M | — |
| FY2016 | −$337.2M | — |
Quarterly newest first
| Period | EBITDA | Change |
|---|---|---|
| Jun 2026 | $598.2M | 21.42% |
| Mar 2026 | $492.7M | (28.44%) |
| Dec 2025 | $688.5M | 13.54% |
| Sep 2025 | $606.4M | 25.03% |
| 42 more quarters | Free account |
Against its own ten years
EBITDA against peers
| Company | EBITDA |
|---|---|
| FSLR First Solar, Inc. | $2.4B |
| RUN Sunrun Inc. compare | $840.6M |
| NXT Nextpower Inc. compare | $736.7M |
| ENPH Enphase Energy, Inc. compare | $196.2M |
| ARRY Array Technologies, Inc. compare | $104.2M |
| SHLS Shoals Technologies Group, Inc. compare | $79.1M |
| SEDG SolarEdge Technologies, Inc. compare | −$128.6M |
| DQ DAQO New Energy Corp. compare | −$290.1M |
| JKS JinkoSolar Holding Company Limited compare | −$983.1M |
What EBITDA is
EBITDA shows what a company earns from its operations before interest, taxes and the non-cash charges for depreciation and amortization.
Reported line item
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- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
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