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) Operating margin
First Solar, Inc.'s operating margin over the twelve months to 30 June 2026 was 33.7%, up 3.1 percentage points from fiscal 2025 (30.6%). Over the past ten years it has ranged from −19.6% (fiscal 2016) to 33.2% (fiscal 2024); the current reading is higher than 91% of that period. That is above the Solar industry median of −9.70% and above the Technology sector median of 0.00%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 30.6% | (2.56) |
| FY2024 | 33.2% | 7.32 |
| FY2023 | 25.8% | 26.87 |
| FY2022 | −1.04% | (21.11) |
| FY2021 | 20.1% | 8.36 |
| FY2020 | 11.7% | 16.99 |
| FY2019 | −5.28% | (7.07) |
| FY2018 | 1.79% | (4.26) |
| FY2017 | 6.05% | 25.61 |
| FY2016 | −19.6% | (37.31) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 42.6% | 9.57 |
| Mar 2026 | 33.1% | 0.51 |
| Dec 2025 | 32.6% | 3.34 |
| Sep 2025 | 29.2% | (3.74) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| FSLR First Solar, Inc. | 33.7% |
| NXT Nextpower Inc. compare | 19.3% |
| SHLS Shoals Technologies Group, Inc. compare | 10.6% |
| ENPH Enphase Energy, Inc. compare | 8.32% |
| RUN Sunrun Inc. compare | 2.66% |
| ARRY Array Technologies, Inc. compare | −5.13% |
| JKS JinkoSolar Holding Company Limited compare | −11.5% |
| SEDG SolarEdge Technologies, Inc. compare | −11.6% |
| DQ DAQO New Energy Corp. compare | −52.2% |
| Solar industry median | −9.70% |
| Technology sector median | 0.00% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross 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