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First Solar, Inc. logo

First Solar, Inc.

FSLR

NASDAQEnergySolar

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Previous close

$214.28

+$0.22 · +0.10%

Aug 21, 4:00 PM ET

FSLR company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

88

Deep Value

Momentum

31

Weakening

Sentiment

56

Mixed

Risk resilience

43

Elevated Risk

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Company profile

Company website

First Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company's primary activity involves the engineering, manufacturing, and sale of cadmium telluride solar modules, which are designed to convert solar radiation directly into electricity. Its clientele is broad, serving system developers and operators, utility companies, independent power producers, commercial and industrial businesses, and various other system owners. Founded in 1999, the firm is based in Tempe, Arizona, and underwent a name change in 2006 from its former designation, First Solar Holdings, Inc.

Industry
Solar
Sector
Energy
Headquarters
US
CEO
Mark R. Widmar
Listed since
Nov 17, 2006
Employees
7,900

Market position

Day range

Current $214.28

52-week range

Current $214.28

Open
$214.78
Previous close
$214.06
Volume
1.5M
0.61× average
Average volume
2.48M
Average daily volume
Market cap
23.03B USD
Beta
1.75
Market reference 1
50-day average
$229.99
-6.83% below average
200-day average
$233.58
-8.26% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
25.71B USD
P/E (TTM)
13.18×
P/B (TTM)
2.23×
P/S (TTM)
4.28×
EV / EBITDA
11.93×
Earnings yield
5.46%
Free cash flow yield
4.24%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
44.02%
Operating margin
33.65%
Net margin
32.47%
Return on equity
16.02%
Return on assets
11.47%
Return on invested capital
13.68%

Financial health

Debt / equity
0.02×
Current ratio
2.67×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends49%30%12%-6%Gross margin, FY2021: 24.97%Gross margin, FY2022: 2.67%Gross margin, FY2023: 39.19%Gross margin, FY2024: 44.17%Gross margin, FY2025: 40.62%Operating margin, FY2021: 20.07%Operating margin, FY2022: -1.04%Operating margin, FY2023: 25.83%Operating margin, FY2024: 33.15%Operating margin, FY2025: 30.59%Net margin, FY2021: 16.03%Net margin, FY2022: -1.69%Net margin, FY2023: 25.03%Net margin, FY2024: 30.72%Net margin, FY2025: 29.28%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 24.97%. Gross margin FY2022 2.67%. Gross margin FY2023 39.19%. Gross margin FY2024 44.17%. Gross margin FY2025 40.62%. Operating margin FY2021 20.07%. Operating margin FY2022 -1.04%. Operating margin FY2023 25.83%. Operating margin FY2024 33.15%. Operating margin FY2025 30.59%. Net margin FY2021 16.03%. Net margin FY2022 -1.69%. Net margin FY2023 25.03%. Net margin FY2024 30.72%. Net margin FY2025 29.28%.

Income trends

Revenue

5.22B USD+24.09%

Operating income

1.6B USD+14.52%

Net income

1.53B USD+18.28%
Income trends across reported periods5.75B USD3.64B USD1.53B USD−570.52M USDRevenue, FY2021: 2.92B USDRevenue, FY2022: 2.62B USDRevenue, FY2023: 3.32B USDRevenue, FY2024: 4.21B USDRevenue, FY2025: 5.22B USDOperating income, FY2021: 586.75M USDOperating income, FY2022: −27.24M USDOperating income, FY2023: 857.27M USDOperating income, FY2024: 1.39B USDOperating income, FY2025: 1.6B USDNet income, FY2021: 468.69M USDNet income, FY2022: −44.17M USDNet income, FY2023: 830.78M USDNet income, FY2024: 1.29B USDNet income, FY2025: 1.53B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.92B USD. Revenue FY2022 2.62B USD. Revenue FY2023 3.32B USD. Revenue FY2024 4.21B USD. Revenue FY2025 5.22B USD. Operating income FY2021 586.75M USD. Operating income FY2022 −27.24M USD. Operating income FY2023 857.27M USD. Operating income FY2024 1.39B USD. Operating income FY2025 1.6B USD. Net income FY2021 468.69M USD. Net income FY2022 −44.17M USD. Net income FY2023 830.78M USD. Net income FY2024 1.29B USD. Net income FY2025 1.53B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue5.22B USD4.21B USD3.32B USD2.62B USD2.92B USD
Cost of goods sold3.1B USD2.35B USD2.02B USD2.55B USD2.19B USD
Gross profit2.12B USD1.86B USD1.3B USD69.86M USD729.95M USD
Research and development233.42M USD191.38M USD152.31M USD112.8M USD99.12M USD
Selling, general, and administrative203.76M USD188.26M USD197.62M USD164.72M USD170.32M USD
Operating expenses523.48M USD463.44M USD443.41M USD97.09M USD143.2M USD
Interest income81.76M USD89.09M USD97.67M USD33.28M USD6.18M USD
Interest expense44.13M USD38.87M USD12.97M USD12.23M USD13.11M USD
Depreciation and amortization529.22M USD423.5M USD307.99M USD269.72M USD259.9M USD
Operating income1.6B USD1.39B USD857.27M USD−27.24M USD586.75M USD
Net income1.53B USD1.29B USD830.78M USD−44.17M USD468.69M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 4 misses, 1 met estimate
Average EPS surprise
+3.38%
11 comparable reports
Latest EPS result
3.92
Estimate 2.9 · Beat by 35.17%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates5.44.162.931.69Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MetQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 25, 2025: actual 3.65, estimate 4.81, surprise -24.12%, Miss. Q2 2025, reported Apr 29, 2025: actual 1.95, estimate 2.49, surprise -21.69%, Miss. Q3 2025, reported Jul 31, 2025: actual 3.18, estimate 2.66, surprise +19.55%, Beat. Q4 2025, reported Oct 30, 2025: actual 4.24, estimate 4.24, surprise 0.00%, Met estimate. Q1 2026, reported Feb 24, 2026: actual 4.84, estimate 5.14, surprise -5.84%, Miss. Q2 2026, reported Apr 30, 2026: actual 3.22, estimate 3.03, surprise +6.27%, Beat. Q3 2026, reported Jul 30, 2026: actual 3.92, estimate 2.9, surprise +35.17%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 4.71, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.75B1.43B1.1B775.2MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 25, 2025: actual 1.51B USD, estimate 1.48B USD, surprise +2.08%, Beat. Q2 2025, reported Apr 29, 2025: actual 844.57M USD, estimate 842.51M USD, surprise +0.24%, Beat. Q3 2025, reported Jul 31, 2025: actual 1.1B USD, estimate 1.04B USD, surprise +5.38%, Beat. Q4 2025, reported Oct 30, 2025: actual 1.59B USD, estimate 1.58B USD, surprise +1.21%, Beat. Q1 2026, reported Feb 24, 2026: actual 1.68B USD, estimate 1.57B USD, surprise +7.27%, Beat. Q2 2026, reported Apr 30, 2026: actual 1.04B USD, estimate 1.03B USD, surprise +0.93%, Beat. Q3 2026, reported Jul 30, 2026: actual 1.06B USD, estimate 1.06B USD, surprise -0.61%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 1.29B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$265.38

23.85% upside
Past 12 months12-month forecastHigh $324Average $265.38Low $197

Rating distribution

74 ratings
Strong buy00%
Buy4459%
Hold2230%
Sell811%
Strong sell00%

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ETFs holding FSLR

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
685.76M
Weight
0.03%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard S&P 500 ETF logoVanguard S&P 500 ETFVOO
Market value
595.14M
Weight
0.04%
AUM
1.7T USD
Expense ratio
0.03%
Price / 1D
$703.71+0.39%
iShares Core S&P 500 ETF logoiShares Core S&P 500 ETFIVV
Market value
309.94M
Weight
0.03%
AUM
891.84B USD
Expense ratio
0.03%
Price / 1D
$769.31+0.39%
State Street SPDR S&P 500 ETF logoState Street SPDR S&P 500 ETFSPY
Market value
285.8M
Weight
0.03%
AUM
817.87B USD
Expense ratio
0.09%
Price / 1D
$765.72+0.41%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
247.52M
Weight
0.13%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Mid-Cap ETF logoVanguard Morningstar Mid-Cap ETFVO
Market value
233.11M
Weight
0.10%
AUM
224.7B USD
Expense ratio
0.03%
Price / 1D
$82.97+0.53%
Vanguard Information Technology ETF logoVanguard Information Technology ETFVGT
Market value
215.08M
Weight
0.13%
AUM
160.2B USD
Expense ratio
0.09%
Price / 1D
$118.42+0.05%
State Street Technology Select Sector SPDR ETF logoState Street Technology Select Sector SPDR ETFXLK
Market value
183.44M
Weight
0.15%
AUM
119.4B USD
Expense ratio
0.08%
Price / 1D
$183.31+0.11%

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