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) Gross margin
First Solar, Inc.'s gross margin over the twelve months to 30 June 2026 was 44.0%, up 3.4 percentage points from fiscal 2025 (40.6%). Over the past ten years it has ranged from 2.67% (fiscal 2022) to 44.2% (fiscal 2024); the current reading is higher than 91% of that period. That is above the Solar industry median of 31.9% and below the Technology sector median of 47.2%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 40.6% | (3.55) |
| FY2024 | 44.2% | 4.98 |
| FY2023 | 39.2% | 36.52 |
| FY2022 | 2.67% | (22.30) |
| FY2021 | 25.0% | (0.13) |
| FY2020 | 25.1% | 7.17 |
| FY2019 | 17.9% | 0.45 |
| FY2018 | 17.5% | (1.18) |
| FY2017 | 18.7% | (3.32) |
| FY2016 | 22.0% | (5.56) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 57.3% | 10.73 |
| Mar 2026 | 46.6% | 7.01 |
| Dec 2025 | 39.5% | 1.25 |
| Sep 2025 | 38.3% | (7.27) |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| ENPH Enphase Energy, Inc. compare | 47.0% |
| FSLR First Solar, Inc. | 44.0% |
| RUN Sunrun Inc. compare | 35.3% |
| NXT Nextpower Inc. compare | 33.5% |
| SHLS Shoals Technologies Group, Inc. compare | 31.9% |
| ARRY Array Technologies, Inc. compare | 24.3% |
| SEDG SolarEdge Technologies, Inc. compare | 23.3% |
| JKS JinkoSolar Holding Company Limited compare | 4.68% |
| DQ DAQO New Energy Corp. compare | −35.5% |
| Solar industry median | 31.9% |
| Technology sector median | 47.2% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- 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