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First Solar Balance Sheet Statement

Assets, liabilities, and shareholders' equity

First Solar holds $13.4B in total assets. Shareholders' equity is $9.9B against $590.9M in total debt. Cash and equivalents total $2.4B. The current ratio is 2.56 and debt-to-equity is 0.060. Based on the Q1 2026 filing.

Total Assets$13.4BTotal Stockholders Equity$9.9BLong Term Debt$425.8MCash And Equivalents$2.4BTotal Current Assets$5.6BTotal Current Liabilities$2.2B
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$25.1B
P/E Ratio15.08
ROE18.44%

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$1.3B$1.6B$1.7B$1.5B$1.3B$1.4B
Available-for-Sale Debt Securities - Amortized Cost$172.8M$54.2M$30.0M$48.6M$52.6M$63.6M
Allowance for Doubtful Accounts$1.3M$7.9M$9.3M$11.4M$13.3M$15.1M
Allowance for Doubtful Accounts Receivable (Current)$1.3M$7.9M$9.3M$11.4M$13.3M$15.1M
Cash and cash equivalents$1.6B$844.0M$1.2B$2.0B$2.8B$2.4B
Available For Sale Securities Debt Securities Current$171.6M$53.1M$29.1M$47.7M$51.8M$63.6M
Derivatives$13.5M$1.2M$2.9M$16.7M$4.0M$15.7M
PT Freeport Indonesia (PTFI) mud rush incident insurance settlement receivable$21.8M$21.8M$21.8M$21.8M$21.8M$21.8M
Finished goods$754.5M$960.5M$1.1B$800.6M$439.2M$609.2M
Other current assets$546.9M$577.2M$642.2M$634.8M$643.1M$666.2M
Derivative Assets, Current$13.5M$1.2M$2.9M$16.7M$4.0M$15.7M
Derivative assets$13.5M$1.2M$2.9M$16.7M$4.0M$15.7M
Income taxes receivable$6.4M$18.2M$29.4M$29.7M$9.8M$1.6M
Finished goods$754.5M$960.5M$1.1B$800.6M$439.2M$609.2M
Raw materials$489.5M$464.9M$475.0M$435.2M$429.7M$385.6M
Work in process$115.7M$137.4M$107.5M$119.6M$105.3M$116.1M
Inventories$275.4M$276.7M$269.9M$254.5M$237.5M$217.0M
Restricted cash$8.3M$0.0$48.3M$0.0$3.6M$3.6M
Restricted Marketable Securities$199.1M$210.6M$213.7M$215.5M$217.2M$214.7M
Short-term investments$171.6M$53.1M$29.1M$47.7M$51.8M$63.6M
Total current assets$5.1B$4.6B$5.4B$5.9B$6.0B$5.6B

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued expenses$508.6M$60.7M$60.2M$73.4M$519.4M$56.3M
Accrued Litigation$21.8M$21.8M$21.8M$21.8M$21.8M$21.8M
Accrued Manufacturing Costs$30.6M$25.9M$45.4M$50.2M$67.0M$30.0M
Other Commercial Liabilities$508.6M$555.2M$593.2M$587.7M$519.4M$436.5M
Accrued Income Taxes, Current$77.4M$81.6M$79.0M$78.8M$7.5M$22.8M
Accrued Liabilities, Current$508.6M$555.2M$593.2M$587.7M$519.4M$436.5M
Deferred income$712.0M$1.0B$1.1B$1.6B$1.0B$1.2B
Derivative Liability, Current$18.6M$16.6M$16.7M$1.7M$2.4M$3.1M
Compensation and benefits$30.6M$25.9M$45.4M$50.2M$67.0M$30.0M
Other accrued liabilities$60.9M$68.1M$504.5M$311.8M$91.1M$50.4M
Current portion of accrued product warranty$62.1M$60.7M$60.2M$73.4M$59.3M$56.3M
Current portion of long-term debt$236.4M$1.7M$1.9M$2.5M$216.0M$3.8M
Deferred revenue$2.0B$1.9B$1.8B$2.2B$1.8B$1.8B
Derivative Liabilities - Fair Value$18.6M$16.6M$16.7M$1.7M$2.4M$3.1M
Finance Lease Liability, Current$1.5M———$2.9M—
Finance Lease Liability Payment Due—$68.2M$67.7M$72.3M—$80.0M
Finance Lease Liability - Undiscounted Excess Amount—$37.1M$36.6M$37.1M—$37.4M
Lease Liability Payments - 2020 (Remaining Three Months)—$11.4M$7.7M$4.9M—$15.1M
Lease Liability Payments - 2021—$2.8M$2.8M$3.3M—$4.8M
Operating Lease Liability Payments - 2024 (Lessee)—$11.5M$8.0M$12.3M—$13.7M
Operating Lease Liability Payments - 2025 (Lessee)—$9.2M$5.5M$10.0M—$10.4M
Lease Liability Payments - Due Year Two—$2.8M$2.8M$3.4M—$4.9M
Lease Liability Payments - Due Year Three—$10.9M$7.4M$11.8M—$12.0M
Lease Liability Payments - Due Year Four—$9.2M$5.5M$10.0M—$10.4M
Lease Liability Payments - Due Year Five—$3.0M$3.0M$3.5M—$4.8M
Lease Liability Payments - Remainder of Fiscal Year—$1.5M$993.0K$658.0K—$3.6M
Note payable to DIRECTV$60.9M$68.1M$504.5M$311.8M$91.1M$50.4M
Operating lease liabilities, current$11.8M$11.9M$14.3M$16.1M$15.2M$13.5M
Operating Lease Liability Payments Due—$96.3M$82.9M$152.4M—$162.5M
Operating Lease Liability - Undiscounted Excess Amount—$22.1M$19.5M$44.5M—$43.8M
Other current liabilities$2.5M$300.0K$0.0$0.0$0.0$0.0
Standard Product Warranty Accrual$76.4M$75.6M$75.8M$89.5M$79.4M$77.4M
Supplier Finance Program Obligations————$9.0M$7.8M
Total current liabilities$2.1B$2.4B$2.9B$3.1B$2.3B$2.2B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$2.9B$2.9B$2.9B$2.9B$2.9B$2.9B
Accumulated other comprehensive income (loss)-$184.1M-$171.1M-$160.9M-$154.9M-$155.5M-$168.2M
Common stock107K500M500M500M107K500M
Common Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Common Stock Shares Issued107.1M107.2M107.2M107.3M107.3M107.5M
Additional paid-in capital$2.9B$2.9B$2.9B$2.9B$2.9B$2.9B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$107.0K$107.0K$107.0K$107.0K$107.0K$107.0K
Retained earnings$5.3B$5.5B$5.8B$6.3B$6.8B$7.1B
Total liabilities and stockholders' equity$12.1B$12.1B$12.9B$13.5B$13.3B$13.4B
Total stockholders' equity$8.0B$8.2B$8.5B$9.0B$9.5B$9.9B
Unrealized Gains on Investments$0.0$0.0$0.0$0.0$0.0$0.0
Unrealized Losses on Investments (Before Tax)$1.3M$1.1M$927.0K$807.0K$713.0K$0.0

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$172.8M$54.2M$30.0M$48.6M$52.6M$63.6M
Accounts receivable, trade - noncurrent$94.4M$0.0$0.0$16.0M$16.0M$16.0M
Accrued freight$95.9M$70.9M$81.7M$76.8M$51.7M$45.9M
Accrued inventory$64.9M$54.1M$75.8M$74.2M$69.1M$53.3M
Accrued other taxes$41.2M$32.2M$39.9M$44.0M$58.6M$52.4M
Accrued property, plant and equipment$136.2M$233.4M$176.5M$170.9M$109.0M$115.7M
Advance payments for raw materials$249.2M$344.0M$332.7M$334.8M$319.8M$328.6M
Allowance for doubtful accounts$1.3M$7.9M$9.3M$11.4M$13.3M$15.1M
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax$1.3M$1.1M$927.0K$807.0K$713.0K$0.0
Gross Unrealized Gains$0.0$0.0$0.0$0.0$0.0$0.0
Total$172.8M$54.2M$30.0M$48.6M$52.6M$63.6M
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$500.0M$500.0M$500.0M$500.0M$500.0M$500.0M
Common stock, shares issued (in shares)$107.1M$107.2M$107.2M$107.3M$107.3M$107.5M
Common Stock, Shares, Outstanding$107.1M$107.2M$107.2M$107.3M$107.3M$107.5M
Short-term debt and current portion of long-term debt$236.4M$197.2M$249.9M$272.4M$216.0M$188.6M
Deferred income taxes$54.7M$55.2M$56.5M$56.3M$69.7M$67.0M
Derivative Assets Liabilities At Fair Value Net————$4.0M$15.7M
Current maturities of long-term debt$1.5M$1.7M$1.9M$2.5M$2.9M$3.8M
Finance Lease Liability Payments Due—$68.2M$67.7M$72.3M—$80.0M
Finance Lease Liability Payments Due After Year Five—$52.2M$52.2M$54.5M—$51.8M
2027—$2.8M$2.8M$3.3M—$4.8M
Finance Lease Liability Payments Due Year Five—$3.0M$3.0M$3.5M—$4.8M
Finance Lease Liability Payments Due Year Four—$3.0M$3.0M$3.5M—$5.1M
Finance Lease Liability Payments Due Year Three—$2.9M$2.9M$3.4M—$5.0M
Finance Lease Liability Payments Due Year Two—$2.8M$2.8M$3.4M—$4.9M
Finance Lease Liability Undiscounted Excess Amount—$37.1M$36.6M$37.1M—$37.4M
Finance Lease, Right-of-Use Asset, after Accumulated Amortization$29.3M$28.8M$28.5M$32.2M$34.3M$38.8M
Receivable from credits from ARPA$403.8M$214.4M$482.5M$684.1M$499.6M$285.2M
Guarantor obligations, current carrying value$2.5M$300.0K$0.0$0.0$0.0$0.0
Income Taxes Receivable Noncurrent$87.0M$87.0M$110.1M$110.1M$110.1M$104.6M
Indirect tax receivables, current$122.1M$121.6M$90.5M$104.7M$124.0M$134.6M
Inventory Current and Noncurrent, Net$1.4B$1.6B$1.7B$1.4B$974.2M$1.1B
Lease liabilities, current$13.3M$13.7M$16.3M$18.6M$18.1M$17.3M
Lease liabilities, noncurrent$95.7M$91.6M$78.3M$124.5M$138.7M$144.0M
Lessee Operating Lease Liability Payments Due—$96.3M$82.9M$152.4M—$162.5M
Lessee Operating Lease Liability Undiscounted Excess Amount—$22.1M$19.5M$44.5M—$43.8M
Operating Lease Weighted Average Discount Rate Percent$0.1$0.1$0.1$0.1$0.1$0.1
Operating supplies$49.9M$50.7M$58.8M$61.2M$57.4M$52.0M
Other accrued liabilities$77.7M$78.0M$113.8M$98.3M$104.7M$82.9M
Other$35.5M$37.7M$43.3M$49.5M$48.0M$44.3M
Other$7.2M$16.0M$55.1M$75.8M$48.8M$8.2M
Other$13.3M$13.2M$13.7M$13.3M$15.4M$15.1M
Other taxes payable$49.3M$51.1M$54.1M$49.6M$51.7M$52.3M
Prepaid expenses$75.3M$91.6M$95.1M$86.0M$99.3M$113.4M
Prepaid ship and debits$34.3M$31.6M$20.7M$18.8M$17.2M$15.8M
Long-term portion of accrued product warranty$14.3M$14.9M$15.7M$16.1M$20.1M$21.2M
Project assets$25.5M$26.8M$27.8M$26.9M$25.7M$25.1M
Receivables Sold Under Factoring Agreements, Amount Outstanding$126.0M——$156.8M$99.8M$0.0
Restricted cash equivalents included in Other long-term assets$5.0M$2.8M$3.5M$6.2M$6.9M$9.8M
Lease assets$143.5M$139.1M$138.2M$184.7M$196.1M$199.5M
Accrued solar module collection and recycling liability$134.4M$137.8M$144.6M$145.1M$146.0M$145.1M
Spare maintenance materials and parts$214.2M$234.4M$252.1M$265.2M$278.8M$282.6M
Standard Product Warranty Accrual$76.4M$75.6M$75.8M$89.5M$79.4M$77.4M
Supplier finance program, obligation————$9.0M$7.8M
Total debt principal$610.2M$525.5M$578.2M$555.2M$498.8M$426.0M
Remainder of Fiscal Year 2024—$11.4M$7.7M$4.9M—$15.1M
Weighted-Average Discount Rate6.6%6.6%6.6%6.5%6.6%6.3%
Weighted-Average Discount Rate - Finance Leases$0.1$0.1$0.1$0.1$0.1$0.1

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt - Unamortized Discount (Premium) and Issuance Costs, Net$376.0K$339.0K$300.0K$255.0K$218.0K$176.0K
Finance lease liabilities$29.5M$29.4M$29.2M$32.7M$34.9M$38.8M
Finance Lease Liabilities (Total)$31.0M$31.1M$31.2M$35.2M$37.8M$42.7M
Operating Lease Liability Payments - 2026 (Lessee)—$10.9M$7.4M$11.8M—$12.0M
Operating Lease Liability Payments - 2027 (Lessee)—$3.7M$3.8M$8.4M—$10.4M
Operating Lease Liability Payments - 2028 (Lessee)—$9.2M$5.5M$10.0M—$10.4M
Operating Lease Liability Payments - 2029 (Lessee)—$3.7M$3.8M$8.4M—$10.4M
Lease Liability Payments - Due After Year Five—$52.2M$52.2M$54.5M—$51.8M
Operating Lease Liability Payments - Thereafter (Lessee)—$35.3M$35.3M$85.6M—$86.7M
Long-term debt$609.8M$525.1M$577.9M$555.0M$498.6M$425.8M
Deferred income$1.3B$859.4M$764.8M$663.1M$805.0M$582.4M
Accrued litigation$21.8M$21.8M$21.8M$21.8M$21.8M$21.8M
Operating lease liabilities, non-current$66.2M$62.2M$49.0M$91.8M$103.8M$105.2M
Operating Lease Liabilities (Total)$78.0M$74.2M$63.4M$107.9M$118.9M$118.7M
Other non-current liabilities$233.8M$232.5M$221.9M$263.4M$295.6M$299.5M
Total liabilities$4.1B$3.9B$4.3B$4.4B$3.8B$3.5B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred tax assets$208.8M$55.2M$56.5M$56.3M$194.7M$67.0M
Deferred Tax Assets and Other Non-Current Assets$697.8M$700.2M$702.3M$765.8M$759.7M$766.9M
Goodwill$28.3M$29.7M$30.6M$30.7M$31.1M$30.6M
Grants Receivable, Non-Current$157.6M$430.3M$238.9M$296.2M$125.6M$537.6M
Intangible assets, net$54.7M$52.6M$52.0M$51.3M$51.0M$64.9M
Investments - Amortized Cost Basis$172.8M$54.2M$30.0M$48.6M$52.6M$63.6M
Net Investment in Lease$114.3M$110.2M$109.7M$152.5M$161.8M$160.8M
Deferred tax assets$208.8M$204.4M$204.7M$183.6M$194.7M$207.5M
Other intangible assets—net$54.7M$52.6M$52.0M$51.3M$51.0M$64.9M
Investments and Cash$1.8B$890.8M$1.2B$2.0B$2.9B$2.4B
Operating lease right-of-use assets$114.3M$110.2M$109.7M$152.5M$161.8M$160.8M
Other non-current assets$697.8M$700.2M$702.3M$765.8M$759.7M$766.9M
Property, plant and equipment at cost$7.5B$7.8B$8.0B$8.2B$8.2B$8.4B
Operating lease right-of-use assets5.5%5.5%5.2%5.6%5.7%5.2%
Operating Lease Right-of-Use Assets in Other Assets$114.3M$110.2M$109.7M$152.5M$161.8M$160.8M
Other non-current assets$55.3M$65.3M$65.8M$64.8M$64.3M$64.0M
Accumulated depreciation$2.1B$2.2B$2.3B$2.4B$2.6B$2.7B
Property and equipment, net$5.4B$5.6B$5.7B$5.8B$5.7B$5.7B
Software and Technology Licenses, Net$697.8M$700.2M$702.3M$765.8M$759.7M$766.9M
Total assets$12.1B$12.1B$12.9B$13.5B$13.3B$13.4B