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First Solar FSLR Invested capital

Discontinued — last reported Q2 '26

Invested capital at other companies

Oneok logo
OneokOKE
8.6%-0.2pp
Rithm Capital logo
Rithm CapitalRITM
3.2%0.0pp
Citigroup logo
CitigroupC
32.6%+2.0pp
Morgan Stanley logo
Morgan StanleyMS
16.9%+0.4pp
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
20.5%-0.7pp
American Express logo
American ExpressAXP
49.1%-10.0pp

Other financials

Income statement

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Revenue$1.1B-3.7%
Gross profit$605.0M+21.0%
Operating income$450.4M+24.6%
Net income$422.6M+23.6%
EPS (diluted)$3.92+23.3%

Balance sheet

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Cash & equivalents$1.7B+43.1%
Total debt$37.6M-94.4%
Total equity$10.3B+20.8%
Total assets$13.4B+4.1%

Cash flow

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Operating cash flow$144.9M-3.1%
CapEx$161.3M-44.0%
Free cash flow-$16.4M+88.2%

Valuation

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Market cap$25.45B+28.3%
Enterprise value$23.8B+23.1%
P/E14.6×-1.2×
P/S4.7×+0.2×

Profitability

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Gross margin44%+1.3pp
Operating margin33.6%+2.3pp
Net margin32.5%+3.5pp
FCF margin33.3%

Returns & leverage

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Return on equity18.5%+2.6pp
Debt / equity-0.1×
Current ratio2.5×+0.6×

Where this comes from

Reported directly by First Solar in its filing.

The source filing: First Solar’s 8-K, filed July 30, 2026. Open the filing →

Filed
Jul 30, 2026, 4:04 PM EDT
Accession
0001274494-26-000169

FAQ

What is First Solar's invested capital?
First Solar (FSLR) reported invested capital of $8.67B in Q2 2026.
How has First Solar's invested capital changed year-over-year?
First Solar's invested capital increased by 7.8% year-over-year, from $8.04B to $8.67B.
What is the long-term trend for First Solar's invested capital?
Over 5 years (2020 to 2025), First Solar's invested capital has grown at a 9.1% compound annual growth rate (CAGR), from $4.77B to $7.38B.
What does invested capital mean?
Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

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