What is First Solar's free cash flow?

First Solar (FSLR) reported free cash flow of -$333.4M in Q1 2026.

How has First Solar's free cash flow changed year-over-year?

First Solar's free cash flow increased by 59.0% year-over-year, from -$813.95M to -$333.4M.

What does free cash flow mean?

Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

First Solar FSLR Free cash flow

Free cash flow at other companies

SolarEdge TechnologiesSEDG

$20.73M-12.6%

Enphase EnergyENPH

$82.97M+145%

Shoals Technologies Group, Inc.SHLS

-$49.1M-498%

SunrunRUN

$10.21M+110%

FTC SolarFTCI

-$13.05M-52.3%

Solaris Energy InfrastructureSEI

-$264.34M-123%

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%

Valuation

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Market cap$25.35B+44.6%

Enterprise value$23.57B+38.1%

P/E15.2×+1.3×

P/S4.7×+0.6×

Profitability

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Gross margin41.7%-1.9pp

Operating margin31.8%-0.5pp

Net margin30.7%+1.0pp

FCF margin30.8%—

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.

−$214.9Mnet cash from operating−$118.5Mcapital expenditures=-$333.4M

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?: First Solar (FSLR) reported free cash flow of -$333.4M in Q1 2026.
How has First Solar's free cash flow changed year-over-year?: First Solar's free cash flow increased by 59.0% year-over-year, from -$813.95M to -$333.4M.
What does free cash flow mean?: Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.