First Solar, Inc.
FSLR- Exchange
- Nasdaq
- Industry
- Semiconductors & Related Devices
- SEC CIK
- 0001274494
In the last 90 days, First Solar, Inc. insiders filed 0 open-market purchases and 3 sales; 1,016 institutions reported holding it in 13F filings for Q2 2026, worth $23.4B in total; Soros Fund Management is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 30, 2026, 1:17 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 20, 2025 | Feb 27, 2024 | Feb 28, 2023 | Mar 1, 2022 |
| Revenue | $5.22B | $4.21B | $3.32B | $2.62B | $2.92B |
| Cost of revenue | $3.10B | $2.35B | $2.02B | $2.55B | $2.19B |
| Gross profit | $2.12B | $1.86B | $1.30B | $69.9M | $730.0M |
| Operating expenses | $523.5M | $464.6M | $450.3M | $350.6M | $290.5M |
| Research and development | $233.4M | $191.4M | $152.3M | $112.8M | $99.1M |
| Selling, general and administrative | $203.8M | $188.3M | $197.6M | $164.7M | $170.3M |
| Operating income | $1.60B | $1.39B | $857.3M | -$27.2M | $586.8M |
| Interest expense | – | – | $13.0M | $12.2M | $13.1M |
| Income tax | $52.7M | $114.3M | $60.5M | $52.8M | $103.5M |
| Net income | $1.53B | $1.29B | $830.8M | -$44.2M | $468.7M |
| EPS, basic | $14.25 | $12.07 | $7.78 | $-0.41 | $4.41 |
| EPS, diluted | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 |
| Weighted shares, basic | 107.2M | 107.0M | 106.8M | 106.6M | 106.3M |
| Weighted shares, diluted | 107.5M | 107.5M | 107.4M | 106.6M | 106.9M |
| Margins and growth | |||||
| Gross margin | 40.6% | 44.2% | 39.2% | 2.7% | 25.0% |
| Operating margin | 30.6% | 33.2% | 25.8% | -1.0% | 20.1% |
| Net margin | 29.3% | 30.7% | 25.0% | -1.7% | 16.0% |
| Revenue growth, year over year | +24.1% | +26.7% | +26.7% | −10.4% | +7.8% |
| Net income growth, year over year | +18.3% | +55.5% | – | −109.4% | +17.7% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 20, 2025 | Feb 27, 2024 | Feb 28, 2023 | Mar 1, 2022 |
| Cash and equivalents | $2.80B | $1.62B | $1.95B | $1.48B | $1.45B |
| Accounts receivable | $1.29B | $1.26B | $660.8M | $324.3M | $429.4M |
| Inventory | $736.7M | $1.08B | $819.9M | $621.4M | $666.3M |
| Total current assets | $6.03B | $5.09B | $4.63B | $3.79B | $3.19B |
| Property, plant and equipment | $5.68B | $5.41B | $4.40B | $3.54B | $2.65B |
| Goodwill | $31.1M | $28.3M | $29.7M | $14.5M | $14.5M |
| Intangible assets | $51.0M | $54.7M | $64.5M | $31.1M | $45.5M |
| Total assets | $13.3B | $12.1B | $10.4B | $8.25B | $7.41B |
| Accounts payable | $405.8M | $482.2M | $207.2M | $341.4M | $193.4M |
| Short-term debt | $216.0M | $236.4M | $96.2M | $0 | $3.90M |
| Total current liabilities | $2.25B | $2.08B | $1.31B | $1.04B | $726.9M |
| Long-term debt | $282.6M | $373.4M | $464.1M | $184.3M | $236.0M |
| Total liabilities | $3.78B | $4.15B | $3.68B | $2.42B | $1.45B |
| Shareholders' equity | $9.54B | $7.98B | $6.69B | $5.84B | $5.96B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 20, 2025 | Feb 27, 2024 | Feb 28, 2023 | Mar 1, 2022 |
| Operating cash flow | $2.06B | $1.22B | $602.3M | $873.4M | $237.6M |
| Capital expenditures | $869.9M | $1.53B | $1.39B | $903.6M | $540.3M |
| Free cash flow | $1.19B | -$308.1M | -$784.5M | -$30.2M | -$302.7M |
| Depreciation and amortization | $529.2M | $423.5M | $308.0M | $269.7M | $259.9M |
| Stock-based compensation | $19.2M | $28.1M | $34.2M | $28.7M | $20.9M |
| Investing cash flow | -$765.2M | -$1.56B | -$472.8M | -$1.19B | -$99.0M |
| Financing cash flow | -$119.2M | $24.8M | $336.9M | $309.4M | $40.5M |
| Net change in cash | – | -$326.8M | $471.6M | $37.6M | $182.2M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.4% | 0.7% | 1.0% | 1.1% | 0.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 23, 2026 | 107.5M | +0.2% | SEC |
| Jul 24, 2026 | 107.5M | +0.2% | SEC |
| Apr 24, 2026 | 107.5M | +0.2% | SEC |
| Feb 20, 2026 | 107.3M | +0.2% | SEC |
| Oct 24, 2025 | 107.3M | +0.2% | SEC |
| Jul 25, 2025 | 107.2M | +0.2% | SEC |
| Apr 25, 2025 | 107.2M | +0.2% | SEC |
| Feb 21, 2025 | 107.1M | +0.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.