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FSLR (First Solar, Inc.) Stock Financials & Earnings | Market Cap Arena
FSLR
First Solar, Inc.
Mkt Cap
$21B
Energy
·
Solar
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$5.2B
Net Income (TTM)
$1.5B
EPS (TTM)
$14.21
Free Cash Flow (TTM)
$1.2B
Gross Margin
40.6%
Op. Margin
30.6%
Net Margin
29.3%
FCF Margin
22.7%
P/S Ratio (TTM)
4.0x
P/E Ratio (TTM)
13.8x
YoY Rev Growth
+24.1%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$548M
$112M
$18M
Q2 23
$811M
$310M
$169M
Q3 23
$801M
$376M
$273M
Q4 23
$1.2B
$502M
$398M
Q1 24
$794M
$346M
$243M
Q2 24
$1.0B
$499M
$373M
Q3 24
$888M
$445M
$322M
Q4 24
$1.5B
$568M
$457M
Q1 25
$845M
$344M
$221M
Q2 25
$1.1B
$500M
$362M
Q3 25
$1.6B
$611M
$466M
Q4 25
$1.7B
$665M
$548M
marketcaparena.com
Revenue Breakdown
FSLR
First Solar, Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
7.5x
505.9x
Q2 23
7.0x
134.7x
Q3 23
6.7x
44.5x
Q4 23
6.3x
25.4x
Q1 24
5.9x
20.6x
Q2 24
5.6x
17.5x
Q3 24
5.5x
16.9x
Q4 24
5.0x
16.3x
Q1 25
4.9x
16.7x
Q2 25
4.9x
16.8x
Q3 25
4.2x
15.0x
Q4 25
4.0x
13.8x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
-$35M
-$406M
Q2 23
-$90M
-$472M
Q3 23
$165M
-$121M
Q4 23
$561M
$214M
Q1 24
$268M
-$146M
Q2 24
$193M
-$172M
Q3 24
-$54M
-$488M
Q4 24
$811M
$497M
Q1 25
-$608M
-$814M
Q2 25
$150M
-$139M
Q3 25
$1.3B
$1.1B
Q4 25
$1.2B
$1.1B
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$371M
Q2 23
$383M
Q3 23
$286M
Q4 23
$347M
Q1 24
$413M
Q2 24
$365M
Q3 24
$434M
Q4 24
$314M
Q1 25
$206M
Q2 25
$288M
Q3 25
$204M
Q4 25
$172M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+49.4%
+24.8%
Q2 23
+30.6%
+34.9%
Q3 23
+27.4%
-24.3%
Q4 23
+15.6%
-27.4%
Q1 24
+44.8%
+3.9%
Q2 24
+24.6%
-0.7%
Q3 24
+10.8%
+7.1%
Q4 24
+30.7%
+39.0%
Q1 25
+6.4%
+13.1%
Q2 25
+8.6%
+15.3%
Q3 25
+79.7%
+99.5%
Q4 25
+11.1%
+7.3%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$7M
1.2%
Q2 23
$8M
1.0%
Q3 23
$8M
1.0%
Q4 23
$11M
1.0%
Q1 24
$7M
0.9%
Q2 24
$8M
0.8%
Q3 24
$7M
0.8%
Q4 24
$6M
0.4%
Q1 25
$3M
0.3%
Q2 25
$7M
0.6%
Q3 25
$7M
0.5%
Q4 25
$3M
0.1%
marketcaparena.com
OpEx Breakdown
R&D
SG&A
Quarter
R&D
SG&A
Q1 23
$31M
$44M
Q2 23
$37M
$46M
Q3 23
$41M
$50M
Q4 23
$44M
$57M
Q1 24
$43M
$46M
Q2 24
$52M
$47M
Q3 24
$50M
$46M
Q4 24
$46M
$50M
Q1 25
$52M
$53M
Q2 25
$54M
$53M
Q3 25
$61M
$47M
Q4 25
$66M
$51M
marketcaparena.com
Revenue Segments
Other
Solar Module
Modules Segment
Quarter
Other
Solar Module
Modules Segment
Q1 23
$12M
$537M
—
Q2 23
$8M
$802M
—
Q3 23
$697K
$800M
—
Q4 23
$964K
$1.2B
—
Q1 24
$674K
—
$793M
Q2 24
$2M
—
$1.0B
Q3 24
$1M
—
$887M
Q4 24
$152K
—
$1.5B
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$907M
$1.4B
$2.3B
Q2 23
$830M
$1.1B
$1.9B
Q3 23
$1.5B
$330M
$1.8B
Q4 23
$1.9B
$155M
$2.1B
Q1 24
$1.7B
$308M
$2.0B
Q2 24
$1.7B
$37M
$1.7B
Q3 24
$1.0B
$265M
$1.3B
Q4 24
$1.6B
$172M
$1.8B
Q1 25
$838M
$53M
$891M
Q2 25
$1.1B
$29M
$1.2B
Q3 25
$2.0B
$48M
$2.0B
Q4 25
$2.8B
$52M
$2.9B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
107M
+0.5%
Q2 23
107M
+0.1%
Q3 23
107M
+0.2%
Q4 23
108M
+0.1%
Q1 24
107M
-0.1%
Q2 24
108M
+0.1%
Q3 24
108M
+0.0%
Q4 24
108M
+0.0%
Q1 25
107M
-0.2%
Q2 25
108M
+0.1%
Q3 25
108M
+0.0%
Q4 25
108M
+0.1%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$560K
6K
FY 15
$648K
6K
FY 16
$538K
5K
FY 17
$717K
4K
FY 18
$351K
6K
FY 19
$464K
7K
FY 20
$532K
5K
FY 21
$609K
5K
FY 22
$476K
6K
FY 23
$495K
7K
FY 24
$519K
8K
FY 25
$661K
8K
marketcaparena.com