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) Net margin
First Solar, Inc.'s net margin over the twelve months to 30 June 2026 was 32.5%, up 3.2 percentage points from fiscal 2025 (29.3%). Over the past ten years it has ranged from −14.3% (fiscal 2016) to 30.7% (fiscal 2024); the current reading is higher than 91% of that period. That is above the Solar industry median of −8.48% and above the Technology sector median of 0.00%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 29.3% | (1.44) |
| FY2024 | 30.7% | 5.69 |
| FY2023 | 25.0% | 26.72 |
| FY2022 | −1.69% | (17.72) |
| FY2021 | 16.0% | 1.34 |
| FY2020 | 14.7% | 18.44 |
| FY2019 | −3.75% | (10.18) |
| FY2018 | 6.43% | 12.06 |
| FY2017 | −5.63% | 8.70 |
| FY2016 | −14.3% | (28.76) |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Jun 2026 | 40.0% | 6.82 |
| Mar 2026 | 33.2% | 2.24 |
| Dec 2025 | 31.0% | 2.36 |
| Sep 2025 | 28.6% | (2.57) |
| 42 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| FSLR First Solar, Inc. | 32.5% |
| NXT Nextpower Inc. compare | 16.4% |
| RUN Sunrun Inc. compare | 11.6% |
| ENPH Enphase Energy, Inc. compare | 10.1% |
| SHLS Shoals Technologies Group, Inc. compare | 5.41% |
| JKS JinkoSolar Holding Company Limited compare | −5.87% |
| ARRY Array Technologies, Inc. compare | −12.5% |
| SEDG SolarEdge Technologies, Inc. compare | −20.3% |
| DQ DAQO New Energy Corp. compare | −34.5% |
| Solar industry median | −8.48% |
| Technology sector median | 0.00% |
| Market median | 0.44% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating 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