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) Price to free cash flow
As of 9 October 2026, First Solar, Inc. (FSLR) trades at a price to free cash flow of 12.7×. Over the past ten years it has ranged from 0.0× (September 2025) to 336× (March 2016); the current reading is higher than 76% of that period. That is above the Solar industry median of 10.0× and below the Technology sector median of 20.2×.
Price to free cash flow, daily
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Annual newest first
| Period | Price to free cash flow | Change |
|---|---|---|
| FY2025 | 23.6× | — |
| FY2024 | 0.0× | — |
| FY2023 | 0.0× | — |
| FY2022 | 0.0× | — |
| FY2021 | 0.0× | — |
| FY2020 | 0.0× | — |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 8.9× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | Price to free cash flow | Change |
|---|---|---|
| Jun 2026 | 16.9× | 33.12% |
| Mar 2026 | 12.7× | (46.19%) |
| Dec 2025 | 23.6× | (38.70%) |
| Sep 2025 | 38.5× | — |
| 42 more quarters | Free account |
Against its own ten years
Price to free cash flow against peers
| Company | Price to free cash flow |
|---|---|
| DQ DAQO New Energy Corp. compare | n/m |
| SHLS Shoals Technologies Group, Inc. compare | n/m |
| RUN Sunrun Inc. compare | n/m |
| JKS JinkoSolar Holding Company Limited compare | n/m |
| ARRY Array Technologies, Inc. compare | 4.2× |
| FSLR First Solar, Inc. | 12.7× |
| SEDG SolarEdge Technologies, Inc. compare | 18.1× |
| NXT Nextpower Inc. compare | 23.7× |
| ENPH Enphase Energy, Inc. compare | 29.3× |
| Solar industry median | 10.0× |
| Technology sector median | 20.2× |
| Market median | 14.1× |
What Price to free cash flow is
Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.
Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))
More on FSLR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- 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