FSLR
First Solar Inc
NASDAQ: FSLR · TECHNOLOGY · SOLAR
$190.61
-2.68% today
Updated 2026-04-29
Market cap
$20.48B
P/E ratio
13.40
P/S ratio
3.92x
EPS (TTM)
$14.22
Dividend yield
—
52W range
$122 – $286
Volume
2.2M
First Solar Inc (FSLR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $134.97M | $503.98M | $1.25B | $2.07B | $2.56B | $2.77B | $3.37B | $3.31B | $3.39B | $4.11B | $2.90B | $2.94B | $2.24B | $3.06B | $2.71B | $2.92B | $2.62B | $3.32B | $4.21B | $5.22B |
| Revenue growth (YoY) | — | +273.4% | +147.3% | +65.8% | +24.1% | +7.9% | +21.8% | -1.7% | +2.5% | +21.3% | -29.4% | +1.3% | -23.7% | +36.5% | -11.5% | +7.8% | -10.4% | +26.7% | +26.7% | +24.1% |
| Cost of revenue | $80.73M | $252.57M | $567.91M | $1.02B | $1.38B | $1.79B | $2.52B | $2.44B | $2.57B | $2.98B | $2.27B | $2.39B | $1.85B | $2.51B | $2.03B | $2.19B | $2.55B | $2.02B | $2.35B | $3.10B |
| Gross profit | $54.24M | $251.40M | $678.39M | $1.04B | $1.18B | $971.75M | $852.75M | $864.63M | $824.94M | $1.13B | $638.42M | $548.95M | $392.18M | $549.21M | $680.67M | $729.95M | $69.86M | $1.30B | $1.86B | $2.12B |
| Gross margin | 40.2% | 49.9% | 54.4% | 50.6% | 46.2% | 35.1% | 25.3% | 26.1% | 24.3% | 27.5% | 22.0% | 18.7% | 17.5% | 17.9% | 25.1% | 25.0% | 2.7% | 39.2% | 44.2% | 40.6% |
| R&D | $6.36M | $15.11M | $33.52M | $78.16M | $94.80M | $140.52M | $132.46M | $134.30M | $143.97M | $130.59M | $124.76M | $88.57M | $84.47M | $96.61M | $93.74M | $99.11M | $112.80M | $152.31M | $191.38M | $233.42M |
| SG&A | $51.43M | $82.25M | $174.04M | $272.90M | $341.15M | $446.16M | $280.93M | $270.26M | $253.83M | $255.19M | $261.99M | $202.70M | $176.86M | $205.47M | $222.92M | $170.32M | $164.72M | $183.26M | $188.26M | $203.76M |
| Operating income | $2.81M | $137.18M | $438.34M | $679.62M | $748.90M | $-68.66M | $-37.56M | $370.41M | $422.00M | $730.16M | $-568.15M | $177.85M | $40.11M | $-161.78M | $317.49M | $586.75M | $-27.24M | $857.27M | $1.39B | $1.60B |
| Operating margin | 2.1% | 27.2% | 35.2% | 32.9% | 29.2% | -2.5% | -1.1% | 11.2% | 12.4% | 17.8% | -19.6% | 6.0% | 1.8% | -5.3% | 11.7% | 20.1% | -1.0% | 25.8% | 33.2% | 30.6% |
| EBITDA | $13.02M | $161.66M | $523.80M | $821.20M | $918.18M | $181.62M | $236.80M | $617.23M | $679.88M | $998.13M | $-285.77M | $343.19M | $269.80M | $112.41M | $550.15M | $845.17M | $290.55M | $1.21B | $1.87B | $2.15B |
| EBITDA margin | 9.6% | 32.1% | 42.0% | 39.7% | 35.8% | 6.6% | 7.0% | 18.6% | 20.0% | 24.3% | -9.8% | 11.7% | 12.0% | 3.7% | 20.3% | 28.9% | 11.1% | 36.5% | 44.4% | 41.3% |
| EBIT | $2.81M | $137.18M | $464.29M | $691.57M | $762.08M | $-53.61M | $-25.92M | $382.86M | $434.08M | $740.30M | $-516.71M | $227.88M | $139.07M | $-93.06M | $317.23M | $585.27M | $20.82M | $904.25M | $1.45B | $1.63B |
| Interest expense | $0.00 | $0.00 | $509000.00 | $5.26M | $6000.00 | $100000.00 | $13.89M | $1.88M | $1.98M | $6.97M | $20.54M | $25.77M | $25.92M | $27.07M | $24.04M | $13.11M | $12.22M | $12.96M | $38.87M | $44.13M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $3.97M | $158.35M | $348.33M | $640.14M | $664.20M | $-39.49M | $-96.34M | $350.72M | $395.96M | $593.41M | $-416.11M | $-165.62M | $144.33M | $-114.93M | $398.36M | $468.69M | $-44.17M | $830.78M | $1.29B | $1.53B |
| Net income growth (YoY) | — | +3884.8% | +120.0% | +83.8% | +3.8% | -105.9% | -143.9% | +464.0% | +12.9% | +49.9% | -170.1% | +60.2% | +187.1% | -179.6% | +446.6% | +17.7% | -109.4% | +1981.0% | +55.5% | +18.3% |
| Profit margin | 2.9% | 31.4% | 27.9% | 31.0% | 25.9% | -1.4% | -2.9% | 10.6% | 11.7% | 14.4% | -14.3% | -5.6% | 6.4% | -3.8% | 14.7% | 16.0% | -1.7% | 25.0% | 30.7% | 29.3% |