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) Free cash flow
First Solar, Inc.'s free cash flow for fiscal 2025 was $1.2B, compared with −$308.1M in fiscal 2024. Over the twelve months to 30 June 2026 it was $1.5B. Over the past ten years it has ranged from −$1.1B (fiscal 2018) to $1.2B (fiscal 2025) — the current reading is the highest in ten years. First Solar, Inc. ranks 1st of 25 Solar companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $1.2B | — |
| FY2024 | −$308.1M | — |
| FY2023 | −$784.5M | — |
| FY2022 | −$30.2M | — |
| FY2021 | −$302.7M | — |
| FY2020 | −$379.5M | — |
| FY2019 | −$494.5M | — |
| FY2018 | −$1.1B | — |
| FY2017 | $826.3M | — |
| FY2016 | −$22.7M | — |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | −$306.2M | — |
| Mar 2026 | −$333.4M | — |
| Dec 2025 | $1.1B | 0.06% |
| Sep 2025 | $1.1B | — |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| FSLR First Solar, Inc. | $1.5B |
| NXT Nextpower Inc. compare | $548.7M |
| ENPH Enphase Energy, Inc. compare | $152.6M |
| ARRY Array Technologies, Inc. compare | $134.7M |
| SEDG SolarEdge Technologies, Inc. compare | $117.9M |
| SHLS Shoals Technologies Group, Inc. compare | −$51.6M |
| DQ DAQO New Energy Corp. compare | −$261.5M |
| RUN Sunrun Inc. compare | −$2.2B |
| JKS JinkoSolar Holding Company Limited compare | −$3.0B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- 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
- Beneish M-score
- The full statement