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First Solar FSLR Gross margin

Gross margin at other companies

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Tesla, Inc.TSLA
19.1%+1.4pp

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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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.

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 gross margin?
First Solar (FSLR) reported gross margin of 41.7% in Q1 2026.
How has First Solar's gross margin changed year-over-year?
First Solar's gross margin decreased by 4.3% year-over-year, from 43.6% to 41.7%.
What is the long-term trend for First Solar's gross margin?
Over 5 years (2020 to 2025), First Solar's gross margin has grown at a 10.1% compound annual growth rate (CAGR), from 25.1% to 40.6%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.