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First Solar

FSLR

First Solar is a leading American solar technology company that designs and manufactures advanced thin film photovoltaic (PV) modules.

Market cap
$19.22B-19.8%
Revenue$5.4B+23.8%
Net income$1.7B+38.9%
Free cash flow$1.5B+193%
EPS (diluted)$16.22+38.6%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 29, 2026 (In 1 week)
Revenue estimate$1.3B
EPS estimate$4.67

Financials

Q2 2026

Income statement

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Revenue$1.1B-3.7%
Gross profit$605.0M+21.0%
Operating income$450.4M+24.6%
Net income$422.6M+23.6%
EPS (diluted)$3.92+23.3%

Balance sheet

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Cash & equivalents$1.7B+43.1%
Total debt$194.0M-71.2%
Total equity$10.3B+20.8%
Total assets$13.4B+4.1%

Cash flow

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Operating cash flow-$144.9M-197%
CapEx$161.3M-44.0%
Free cash flow-$306.2M-121%

Valuation & ratios

Valuation

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Market cap$19.22B-19.8%
Enterprise value$17.72B-26.8%
P/E11×-7.2×
P/S3.6×-1.5×

Profitability

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Gross margin44%+1.3pp
Operating margin33.6%+2.3pp
Net margin32.5%+3.5pp
FCF margin27.9%—

Returns & leverage

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Return on equity18.5%+2.6pp
Debt / equity0×-0.1×
Current ratio2.5×+0.6×

Competitors

Profile

First Solar is a leading American solar technology company that designs and manufactures advanced thin film photovoltaic (PV) modules. The company utilizes a proprietary Cadmium Telluride (CdTe) semiconductor technology to provide a high-performance, responsibly produced alternative to conventional crystalline silicon solar panels. Its core value proposition centers on a fully integrated manufacturing process that avoids reliance on Chinese crystalline silicon supply chains while offering superior energy yield in hot and humid climates.

Competitive position

The world's largest thin film PV solar module manufacturer and the largest PV manufacturer in the Western Hemisphere, distinguished by a non-silicon based supply chain.

GeographiesUnited States, India, Malaysia, Vietnam
Customer segmentsUtility-scale energy providers, Corporate energy buyers, Infrastructure investors
Business modelVertically integrated manufacturing, Product sales, Service-based recycling
SuppliersTransparent oxide-coated glass suppliers, Cadmium Telluride (CdTe) raw material providers, Aluminum frame and junction box manufacturers
CustomersUtility-scale solar project developers, Large-scale corporate data centers, Independent power producers (IPPs)
Listed2006
Employees6.7K
CEOMark R. Widmar
SectorEnergy
IndustrySolar
FilingsSEC EDGAR

FAQ

What is First Solar's market cap?
First Solar (FSLR) has a market capitalization of $19.2B and trades on NASDAQ.
What is First Solar's revenue and profitability?
First Solar generated $5.4B in trailing twelve-month revenue with net income of $1.7B, representing a net margin of 32.5%. Gross margin stands at 44.0%, with free cash flow of $1.5B. The latest reported period is Q2 2026.
Who are First Solar's competitors?
First Solar's key competitors include Canadian Solar, SolarEdge Technologies, Inc., Ascent Solar Technologies, Inc. Common Stock, and others. These companies compete in similar markets and product categories.
Who does First Solar partner with?
First Solar's notable partners include Silicon Ranch Corporation, NextEra Energy.
Where is First Solar headquartered?
First Solar is headquartered in United States of America and employs approximately 6,700 people. It has been publicly traded since 2006.