First Solar revenue and financials
$176.16Change from previous close: +0.89%Absolute change: +$1.55
In the fiscal year ended December 2025, First Solar reported revenue of $5.22B (+24.09% year over year). Net income was $1.53B, a net margin of 29.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +24.09%
- 2025 vs 2024
- Net income growth
- +18.28%
- 2025 vs 2024
- Net margin
- 29.3%
- 2024: 30.7%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 5,219 | 4,206 | 3,319 | 2,619 | 2,923 | 2,711 | 3,063 | 2,244 | 2,941 | 2,905 |
| Cost of revenue | 3,099 | 2,348 | 2,018 | 2,549 | 2,193 | 2,031 | 2,514 | 1,852 | 2,392 | 2,266 |
| Gross profit | 2,120 | 1,858 | 1,301 | 69.9 | 730 | 681 | 549 | 392 | 549 | 638 |
| Selling, general and administrative | 204 | 188 | 198 | 165 | — | — | — | — | — | — |
| Research and development | 233 | 191 | 152 | 113 | 99.1 | 93.7 | 96.6 | 84.5 | 88.6 | 125 |
| Operating income | 1,597 | 1,394 | 857 | -27.2 | 587 | 317 | -162 | 40.1 | 178 | -568 |
| EBIT | 1,625 | 1,445 | 904 | 20.8 | — | — | — | — | — | — |
| EBITDA | 2,154 | 1,869 | 1,212 | 291 | — | — | — | — | — | — |
| Interest expense | 44.1 | 38.9 | 13.0 | 12.2 | 13.1 | 24.0 | 27.1 | 25.9 | 25.8 | 20.5 |
| Pre-tax income | 1,581 | 1,406 | 891 | 8.6 | — | — | — | — | — | — |
| Income tax | 52.7 | 114 | 60.5 | 52.8 | 103 | -107 | -5.5 | 3.4 | 372 | 23.2 |
| Net income | 1,528 | 1,292 | 831 | -44.2 | 469 | 398 | -115 | 144 | -166 | -416 |
| Net income to common shareholders | 1,528 | 1,292 | 831 | -44.2 | — | — | — | — | — | — |
| Basic EPS | 14.25 | 12.07 | 7.78 | -0.41 | 4.41 | 3.76 | -1.09 | 1.38 | -1.59 | -4.05 |
| Diluted EPS | 14.21 | 12.02 | 7.74 | -0.41 | 4.38 | 3.73 | -1.09 | 1.36 | -1.59 | -4.05 |
| Average shares (basic) | 107 | 107 | 107 | 107 | — | — | — | — | — | — |
| Average shares (diluted) | 108 | 108 | 107 | 107 | 107 | 107 | 105 | 106 | 104 | 103 |