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First Solar FSLR Free cash flow margin

Free cash flow margin at other companies

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7.2%+0.1pp

Other financials

Income statement

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Revenue$1.0B+23.6%
Gross profit$486.1M+41.2%
Operating income$345.3M+56.1%
Net income$346.6M+65.4%
EPS (diluted)$3.22+65.1%

Balance sheet

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Cash & equivalents$2.4B+182%
Total debt$590.9M-6.5%
Total equity$9.9B+20.7%
Total assets$13.4B+10.2%

Cash flow

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Operating cash flow-$214.9M+64.7%
CapEx$118.5M-42.5%
Free cash flow-$333.4M+59.0%

Valuation

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Market cap$27.69B+56.4%
Enterprise value$25.91B+45.5%
P/E16.6×+2.6×
P/S5.1×+1.0×

Profitability

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Gross margin41.7%-1.9pp
Operating margin31.8%-0.5pp
Net margin30.7%+1.0pp

Returns & leverage

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Return on equity18.4%+1.7pp
Debt / equity0.1×0.0×
Current ratio2.6×+0.6×

Where this comes from

Calculated from First Solar’s reported figures.

Based on trailing twelve months.

The official record: First Solar’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First Solar's free cash flow margin?
First Solar (FSLR) reported free cash flow margin of 30.8% in Q1 2026.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.