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First Solar FSLR Inventory turnover

Inventory turnover at other companies

Enphase EnergyENPH

3.6×-0.6×

Tesla, Inc.TSLA

5.6×+0.3×

Other financials

Income statement

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

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

Operating cash flow-$214.9M+64.7%

CapEx$118.5M-42.5%

Free cash flow-$333.4M+59.0%

Valuation

Market cap$27.69B+56.4%

Enterprise value$25.91B+45.5%

P/E16.6×+2.6×

P/S5.1×+1.0×

Profitability

Gross margin41.7%-1.9pp

Operating margin31.8%-0.5pp

Net margin30.7%+1.0pp

FCF margin30.8%—

Returns & leverage

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.

total cost of revenue/inventories=12.8×

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 inventory turnover?: First Solar (FSLR) reported inventory turnover of 12.8× in Q1 2026.
How has First Solar's inventory turnover changed year-over-year?: First Solar's inventory turnover increased by 44.3% year-over-year, from 8.9× to 12.8×.
What is the long-term trend for First Solar's inventory turnover?: Over 5 years (2020 to 2025), First Solar's inventory turnover has grown at a 1.5% compound annual growth rate (CAGR), from 11.2× to 12.1×.
What does inventory turnover mean?: Trailing-twelve-month cost of revenue divided by average inventory. Measures how many times inventory is sold and replaced over the year.