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First Solar Inc (FSLR) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Semiconductors · DATA UPDATED 2026-07-17

First Solar Inc (FSLR) operates in the Semiconductors industry and is headquartered in Phoenix, United States with about 7,900 employees. Its market capitalization is roughly $22 billion. In the fiscal year ended 2025-12-31, FSLR reported $5.2B in revenue and $1.5B in net income.

First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon PV solar modules.

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FSLR Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$5.4B	$5.2B	$4.2B	$3.3B	$2.6B	$2.9B	$2.7B	$3.1B	$2.2B	$2.9B	$2.9B	$4.1B	$3.4B	$3.3B	$3.4B	$2.8B	$2.6B	$2.1B	$1.2B	$504M	$135M
Gross Profit	$2.3B	$2.1B	$1.9B	$1.3B	$70M	$730M	$681M	$549M	$392M	$549M	$638M	$1.1B	$825M	$865M	$853M	$972M	$1.2B	$1.0B	$678M	$251M	$54M
Gross Margin %	41.7%	40.6%	44.2%	39.2%	2.7%	25.0%	25.1%	17.9%	17.5%	18.7%	22.0%	27.5%	24.3%	26.1%	25.3%	35.1%	46.2%	50.6%	54.4%	49.9%	40.2%
Operating Income (EBIT)	$1.8B	$1.7B	$1.4B	$857M	($27M)	$587M	$317M	($162M)	$40M	$178M	($568M)	$730M	$422M	$370M	($38M)	($69M)	$749M	$680M	$438M	$137M	$3M
Operating Margin %	33.2%	32.3%	33.1%	25.8%	-1.0%	20.1%	11.7%	-5.3%	1.8%	6.0%	-19.6%	17.8%	12.4%	11.2%	-1.1%	-2.5%	29.2%	32.9%	35.2%	27.2%	2.1%
Net Income	$1.7B	$1.5B	$1.3B	$831M	($44M)	$469M	$398M	($115M)	$144M	($166M)	($416M)	$593M	$396M	$351M	($96M)	($39M)	$664M	$640M	$348M	$158M	$4M
Net Margin %	30.7%	29.3%	30.7%	25.0%	-1.7%	16.0%	14.7%	-3.8%	6.4%	-5.6%	-14.3%	14.4%	11.7%	10.6%	-2.9%	-1.4%	25.9%	31.0%	28.0%	31.4%	2.9%
EBITDA	$2.3B	$2.2B	$1.9B	$1.2B	$291M	$845M	$550M	$112M	$270M	$343M	($286M)	$998M	$680M	$617M	$237M	$182M	$918M	$821M	$524M	$162M	$13M
Earnings Per Share (EPS)	$15.48	$14.21	$12.02	$7.74	$-0.41	$4.38	$3.73	$-1.09	$1.36	$-1.59	$-4.05	$5.83	$3.90	$3.67	$-1.11	$-0.46	$7.68	$7.53	$4.24	$2.03	$0.07
Shares Outstanding (M)	108M	108M	108M	107M	107M	107M	107M	105M	106M	104M	103M	102M	102M	95M	87M	86M	86M	85M	82M	78M	58M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSLR Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.0B	$1.7B	$1.6B	$1.1B	$845M	$1.5B	$888M	$1.0B
Gross Profit	$485M	$665M	$611M	$500M	$358M	$568M	$445M	$499M
Gross Margin %	46.5%	39.5%	38.3%	45.6%	42.4%	37.5%	50.2%	49.4%
Operating Income (EBIT)	$353M	$549M	$503M	$393M	$252M	$457M	$322M	$373M
Operating Margin %	33.8%	32.6%	31.5%	35.8%	29.9%	30.2%	36.3%	36.9%
Net Income	$347M	$521M	$456M	$342M	$210M	$393M	$313M	$349M
Net Margin %	33.2%	30.9%	28.6%	31.2%	24.8%	26.0%	35.3%	34.6%
EBITDA	$509M	$703M	$613M	$486M	$352M	$582M	$448M	$484M
Earnings Per Share (EPS)	$3.22	$4.84	$4.24	$3.18	$1.95	$3.65	$2.91	$3.25
Shares Outstanding (M)	108M	108M	108M	108M	107M	108M	108M	108M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSLR Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.5B	$2.1B	$1.2B	$602M	$873M	$238M	$37M	$174M	($327M)	$1.3B	$207M	($361M)	$681M	$856M	$762M	($33M)	$705M	$675M	$463M	$206M	($1M)
Capital Expenditures (CapEx)	$782M	$870M	$1.5B	$1.4B	$904M	$540M	$417M	$669M	$740M	$514M	$229M	$166M	$258M	$283M	$379M	$732M	$589M	$280M	$459M	$242M	$153M
Free Cash Flow (FCF)	$1.7B	$1.2B	($308M)	($785M)	($30M)	($303M)	($380M)	($495M)	($1.1B)	$826M	($23M)	($527M)	$423M	$574M	$383M	($765M)	$117M	$395M	$4M	($36M)	($154M)
FCF Margin %	30.8%	22.8%	-7.3%	-23.6%	-1.1%	-10.4%	-14.0%	-16.1%	-47.5%	28.1%	-0.8%	-12.8%	12.5%	17.3%	11.4%	-27.7%	4.5%	19.1%	0.3%	-7.2%	-113.9%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSLR Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	($215M)	$1.2B	$1.3B	$150M	($608M)	$811M	($54M)	$193M
Capital Expenditures (CapEx)	$119M	$172M	$204M	$288M	$206M	$314M	$434M	$365M
Free Cash Flow (FCF)	($333M)	$1.1B	$1.1B	($139M)	($814M)	$497M	($488M)	($172M)
FCF Margin %	-31.9%	63.6%	67.1%	-12.6%	-96.4%	32.9%	-54.9%	-17.0%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSLR Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$13.4B	$13.3B	$12.1B	$10.4B	$8.3B	$7.4B	$7.1B	$7.5B	$7.1B	$6.9B	$6.9B	$7.3B	$6.7B	$6.9B	$6.3B	$5.8B	$4.4B	$3.4B	$2.1B	$1.4B	$579M
Cash & Cash Equivalents	$2.4B	$2.8B	$1.6B	$1.9B	$1.5B	$1.5B	$1.2B	$1.4B	$1.4B	$2.3B	$1.3B	$1.1B	$1.5B	$1.3B	$901M	$606M	$766M	$664M	$716M	$404M	$308M
Total Liabilities	$3.5B	$3.8B	$4.1B	$3.7B	$2.4B	$1.5B	$1.6B	$2.4B	$1.9B	$1.8B	$1.7B	$1.8B	$1.7B	$2.4B	$2.7B	$2.1B	$925M	$697M	$601M	$274M	$167M
Total Debt (Short + Long-Term)	$426M	$499M	$623M	$571M	$194M	$253M	$293M	$483M	$467M	$437M	$188M	$303M	$93M	$223M	$565M	$664M	$237M	$175M	$198M	$108M	$81M
Total Shareholders' Equity	$9.9B	$9.5B	$8.0B	$6.7B	$5.8B	$6.0B	$5.5B	$5.1B	$5.2B	$5.1B	$5.2B	$5.5B	$5.0B	$4.5B	$3.6B	$3.6B	$3.5B	$2.7B	$1.5B	$1.1B	$411M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FSLR viewer.

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