Friday 6 November 2026 Export FSLR’s income statement to Excel — free account

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.

Revenue: −22.8%
EPS: +25.0%
Free cash flow: −118.5%
Total debt: −80.6%

Quarter to September 2026, against a year earlier

202.08 6.32 +3.23%

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Market cap: $21.0B
P/E: 11.4×
Fwd P/E: 10.1×
Dividend yield: —
F-score: 7/9
Altman Z: 6.28
Beneish M: −2.54
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

First Solar, Inc. (FSLR) P/E ratio

Alert me on P/E ratio

As of 5 November 2026, First Solar, Inc. (FSLR) trades at a P/E ratio of 11.4×. Over the past ten years it has ranged from 0.0× (March 2023) to 594× (May 2023); the current reading is higher than 37% of that period. That is in line with the Solar industry median of 11.4× and below the Technology sector median of 25.7×.

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<iframe src="https://stockrow.com/embed/FSLR/pe-ratio" width="100%" height="360" style="border:0" loading="lazy" title="First Solar, Inc. P/E ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/FSLR/metrics/pe-ratio">First Solar, Inc. (FSLR) P/E ratio — stockrow.com</a></p>

Period	P/E ratio	Change
FY2025	18.3×	25.44%
FY2024	14.6×	(33.96%)
FY2023	22.1×	—
FY2022	0.0×	—
FY2021	19.7×	(25.21%)
FY2020	26.3×	—
FY2019	0.0×	—
FY2018	30.8×	—
FY2017	0.0×	—
FY2016	0.0×	—

Period	P/E ratio	Change
Sep 2026	10.1×	(30.32%)
Jun 2026	14.5×	14.17%
Mar 2026	12.7×	(30.67%)
Dec 2025	18.3×	8.65%
43 more quarters	Free account

Against its own ten years

Low 0.0× High 594×

Ten-year median 15.5×

Current reading's percentile 14

Company	P/E ratio
JKS Jinko Holdings Limited - Unsponsored ADR compare	n/m
DQ DAQO New Energy Corp. compare	n/m
SEDG SolarEdge Technologies, Inc. compare	n/m
ARRY Array Technologies, Inc. compare	n/m
RUN Sunrun Inc. compare	4.4×
FSLR First Solar, Inc.	11.4×
NXT Nextpower Inc. compare	24.5×
SHLS Shoals Technologies Group, Inc. compare	40.0×
ENPH Enphase Energy, Inc. compare	42.5×
Solar industry median	11.4×
Technology sector median	25.7×
Market median	17.9×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

First Solar, Inc. (FSLR) P/E ratio

P/E ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/E ratio against peers

What P/E ratio is

More on FSLR

P/E ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/E ratio against peers

What P/E ratio is

More on FSLR

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