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/S ratio

Alert me on P/S ratio

As of 5 November 2026, First Solar, Inc. (FSLR) trades at a P/S ratio of 4.2×. Over the past ten years it has ranged from 0.7× (November 2016) to 9.0× (June 2024); the current reading is higher than 70% of that period. That is above the Solar industry median of 0.6× and above the Technology sector median of 2.6×.

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

Period	P/S ratio	Change
FY2025	5.4×	19.70%
FY2024	4.5×	(19.07%)
FY2023	5.5×	(6.68%)
FY2022	5.9×	87.38%
FY2021	3.2×	(17.97%)
FY2020	3.9×	100.76%
FY2019	1.9×	(2.93%)
FY2018	2.0×	(20.66%)
FY2017	2.5×	110.31%
FY2016	1.2×	(26.62%)

Period	P/S ratio	Change
Sep 2026	3.8×	(20.37%)
Jun 2026	4.7×	20.65%
Mar 2026	3.9×	(27.19%)
Dec 2025	5.4×	14.59%
43 more quarters	Free account

Against its own ten years

Low 0.7× High 9.0×

Ten-year median 2.8×

Current reading's percentile 67

Company	P/S ratio
JKS Jinko Holdings Limited - Unsponsored ADR compare	0.1×
RUN Sunrun Inc. compare	0.6×
ARRY Array Technologies, Inc. compare	0.7×
SEDG SolarEdge Technologies, Inc. compare	1.2×
DQ DAQO New Energy Corp. compare	1.6×
SHLS Shoals Technologies Group, Inc. compare	2.3×
ENPH Enphase Energy, Inc. compare	3.2×
NXT Nextpower Inc. compare	3.9×
FSLR First Solar, Inc.	4.2×
Solar industry median	0.6×
Technology sector median	2.6×
Market median	1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on FSLR

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on FSLR

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