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) EV/FCF
As of 9 October 2026, First Solar, Inc. (FSLR) trades at a EV/FCF of 11.8×. Over the past ten years it has ranged from −680× (March 2023) to 260× (March 2016); the current reading is higher than 81% of that period.
EV/FCF, daily
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Annual newest first
| Period | EV/FCF | Change |
|---|---|---|
| FY2025 | 21.6× | — |
| FY2024 | −57.4× | — |
| FY2023 | −21.5× | — |
| FY2022 | −435× | — |
| FY2021 | −25.4× | — |
| FY2020 | −23.7× | — |
| FY2019 | −8.5× | — |
| FY2018 | −2.2× | — |
| FY2017 | 5.8× | — |
| FY2016 | −74.2× | — |
Quarterly newest first
| Period | EV/FCF | Change |
|---|---|---|
| Jun 2026 | 15.9× | 38.59% |
| Mar 2026 | 11.5× | (46.79%) |
| Dec 2025 | 21.6× | (40.10%) |
| Sep 2025 | 36.1× | — |
| 42 more quarters | Free account |
Against its own ten years
EV/FCF against peers
| Company | EV/FCF |
|---|---|
| SHLS Shoals Technologies Group, Inc. compare | −32.0× |
| RUN Sunrun Inc. compare | −7.2× |
| JKS JinkoSolar Holding Company Limited compare | −0.3× |
| DQ DAQO New Energy Corp. compare | 5.2× |
| ARRY Array Technologies, Inc. compare | 6.9× |
| FSLR First Solar, Inc. | 11.8× |
| SEDG SolarEdge Technologies, Inc. compare | 19.0× |
| NXT Nextpower Inc. compare | 21.7× |
| ENPH Enphase Energy, Inc. compare | 31.1× |
What EV/FCF is
EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- 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
- 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
- Beneish M-score
- The full statement