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First Solar FSLR Q4 2025 Annual earnings

Reported February 24, 2026 · After market close

Revenue$1.7BBeat by $114.0M
EPS$4.84Miss by $0.30
Revenue estimate$1.6B
EPS estimate$5.14

Next report

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

Financials

Q4 2025

Income statement

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Revenue$1.7B+11.1%
Gross profit$665.3M+17.2%
Operating income$547.9M+20.0%
Net income$520.9M+32.5%
EPS (diluted)$4.84+32.2%

Balance sheet

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Cash & equivalents$2.8B+71.8%
Total debt$658.2M-31.1%
Total equity$9.5B+19.6%
Total assets$13.3B+9.9%

Cash flow

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Operating cash flow$1.2B+53.1%
CapEx$171.7M-45.2%
Free cash flow$1.1B—

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$28.03B+48.6%
Enterprise value$25.88B+42.3%
P/E18.3×+3.7×
P/S5.4×+0.9×

Profitability

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Gross margin40.6%-3.5pp
Operating margin30.6%-2.6pp
Net margin29.3%-1.4pp
FCF margin22.7%—

Returns & leverage

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Return on equity17.4%-0.2pp
Debt / equity0.1×-0.1×
Current ratio2.7×+0.2×

Segments

By geography

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All other foreign countries$5.7M-65.1%

FAQ

When did First Solar report Q4 2025 earnings?
First Solar (FSLR) reported Q4 2025 earnings on February 24, 2026 after market close.
What were First Solar's Q4 2025 revenue and EPS?
First Solar reported revenue of $1.7B and eps of $4.84 for Q4 2025.
Did First Solar beat estimates in Q4 2025?
Revenue beat the consensus estimate of $1.6B by $114.0M. EPS missed the consensus estimate of $5.14 by $0.30.
How did First Solar's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.1% from $1.5B a year earlier and eps grew 32.6% from $3.65.
Where can I find First Solar's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001274494-26-000020) and the 10-K periodic report (0001274494-26-000021) directly on SEC EDGAR. The filing index links above go to sec.gov.