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First Solar Income Statement

Revenue, expenses, and profitability over time

First Solar generated $5.4B in trailing twelve-month revenue, up 0.3% year-over-year. Net income was $1.7B with a 30.73% net margin. Gross margin stands at 41.74% and operating margin at 31.76%. Diluted EPS is $15.48, which grew 0.3% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$5.4BGross Profit (TTM)$2.3BOperating Income (TTM)$1.7BNet Income (TTM)$1.7BEps Diluted (TTM)$15.48
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$29.1B
P/E Ratio17.50
ROE18.44%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$3.67$1.96$3.19$4.25$4.85$3.23
Diluted earnings per share$3.66$1.95$3.18$4.24$4.84$3.22
Weighted-average shares, basic107M107.1M107.2M107.3M107.2M107.4M
Weighted-average shares, diluted107.5M107.4M107.5M107.5M107.5M107.6M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$567.7M$344.4M$499.9M$610.7M$665.3M$486.1M
Operating income$456.8M$221.2M$361.6M$466.1M$547.9M$345.3M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$446.3M$217.1M$352.2M$460.3M$551.3M$354.3M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$53.2M$7.5M$10.3M$4.4M$30.5M$7.7M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$10.9M$9.5M$9.2M$14.1M$11.3M$7.6M
Interest income$14.7M$18.9M$12.1M$23.3M$27.5M$28.9M
Other income (expense), net-$6.9M-$1.9M-$2.6M-$6M-$4.4M-$3.2M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$393.1M$209.5M$341.9M$455.9M$520.9M$346.6M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Production start-up$14.8M$17.6M$31.2M$36.7M$789K$8.6M
Other operating expenses$110.9M$123.2M$138.2M$144.7M$117.4M$140.8M
Research and development$46.5M$52.4M$54.5M$60.6M$66M$66.9M
Selling, general and administrative$49.6M$53.2M$52.6M$47.3M$50.7M$65.3M
Total operating expenses$110.9M$123.2M$138.2M$144.7M$117.4M$140.8M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (Loss), Foreign Currency Transaction, before Tax-$7.3M-$11.6M-$9.7M-$8.9M-$8.3M-$9.1M
Net interest and investment income (loss)$14.7M$18.9M$12.1M$23.3M$27.5M$28.9M
Other income, net (Note 6)-$6.9M-$1.9M-$2.6M-$6M-$4.4M-$3.2M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$946.4M$500.2M$597.3M$984.1M$1B$558.1M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$1.5B$844.6M$1.1B$1.6B$1.7B$1B