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First Solar FSLR Return on equity

Return on equity at other companies

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4.9%-3.9pp

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
Net margin30.7%+1.0pp
FCF margin30.8%

Returns & leverage

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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 return on equity?
First Solar (FSLR) reported return on equity of 18.4% in Q1 2026.
How has First Solar's return on equity changed year-over-year?
First Solar's return on equity increased by 10.0% year-over-year, from 16.8% to 18.4%.
What is the long-term trend for First Solar's return on equity?
Over 5 years (2020 to 2025), First Solar's return on equity has grown at a 18.4% compound annual growth rate (CAGR), from 7.5% to 17.4%.
What does return on equity mean?
How much profit the company earns on the money shareholders have invested.
How do you interpret return on equity?
Higher is better, but very high ROE can be manufactured by leverage — a thin equity base inflates the ratio. Read it next to debt-to-equity and ROIC to tell genuine returns from balance-sheet engineering.
How does return on equity compare across companies?
Comparable across peers, with the leverage caveat. Negative or near-zero equity makes ROE meaningless, so it is suppressed there.