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First Solar FSLR Net margin

Net margin at other companies

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3.9%-2.4pp

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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Gross margin41.7%-1.9pp
Operating margin31.8%-0.5pp
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 net margin?
First Solar (FSLR) reported net margin of 30.7% in Q1 2026.
How has First Solar's net margin changed year-over-year?
First Solar's net margin increased by 3.4% year-over-year, from 29.7% to 30.7%.
What is the long-term trend for First Solar's net margin?
Over 5 years (2020 to 2025), First Solar's net margin has grown at a 14.8% compound annual growth rate (CAGR), from 14.7% to 29.3%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.