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First Solar FSLR Debt-to-equity

Debt-to-equity at other companies

SolarEdge Technologies logo
SolarEdge TechnologiesSEDG
0.1×-0.7×
Enphase Energy logo
Enphase EnergyENPH
0.5×-0.9×
Shoals Technologies Group, Inc. logo
Shoals Technologies Group, Inc.SHLS
0.1×-0.2×
Solaris Energy Infrastructure logo
Solaris Energy InfrastructureSEI
1.8×+1.7×
Sunrun logo
SunrunRUN
0.0×
FTC Solar logo
FTC SolarFTCI
1.3×+1.3×

Other financials

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$37.6M-94.4%
Total equity$10.3B+20.8%
Total assets$13.4B+4.1%

Cash flow

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Operating cash flow$144.9M-3.1%
CapEx$161.3M-44.0%
Free cash flow-$16.4M+88.2%

Valuation

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Market cap$25.45B+28.3%
Enterprise value$23.8B+23.1%
P/E14.6×-1.2×
P/S4.7×+0.2×

Profitability

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Gross margin44%+1.3pp
Operating margin33.6%+2.3pp
Net margin32.5%+3.5pp
FCF margin33.3%

Returns & leverage

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Return on equity18.5%+2.6pp
Current ratio2.5×+0.6×

Where this comes from

Calculated from First Solar’s reported figures.

Based on the most recent quarter.

The source filing: First Solar’s 8-K, filed July 30, 2026. Open the filing →

Filed
Jul 30, 2026, 4:04 PM EDT
Accession
0001274494-26-000169

FAQ

What is First Solar's debt-to-equity?
First Solar (FSLR) reported debt-to-equity of 0× in Q2 2026.
How has First Solar's debt-to-equity changed year-over-year?
First Solar's debt-to-equity decreased by 95.4% year-over-year, from 0.1× to 0×.
What is the long-term trend for First Solar's debt-to-equity?
Over 5 years (2020 to 2025), First Solar's debt-to-equity has grown at a -6.2% compound annual growth rate (CAGR), from 0.1× to 0.1×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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