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First Solar FSLR Operating margin

Operating margin at other companies

SolarEdge Technologies logo
SolarEdge TechnologiesSEDG
-11.6%-5.6pp
Enphase Energy logo
Enphase EnergyENPH
8.3%-3.4pp
Shoals Technologies Group, Inc. logo
Shoals Technologies Group, Inc.SHLS
11.2%-0.1pp
Solaris Energy Infrastructure logo
Solaris Energy InfrastructureSEI
24.3%+4.4pp
Sunrun logo
SunrunRUN
-150.2%-204pp
FTC Solar logo
FTC SolarFTCI
-38.3%-13.0pp

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
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

Calculated from First Solar’s reported figures.

Based on trailing twelve months.

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 operating margin?
First Solar (FSLR) reported operating margin of 33.6% in Q2 2026.
How has First Solar's operating margin changed year-over-year?
First Solar's operating margin increased by 7.3% year-over-year, from 31.3% to 33.6%.
What is the long-term trend for First Solar's operating margin?
Over 5 years (2020 to 2025), First Solar's operating margin has grown at a 21.2% compound annual growth rate (CAGR), from 11.7% to 30.6%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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