First Solar revenue and financials
$179.80Change from previous close: +2.07%Absolute change: +$3.64
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2,057 | 1,218 | 602 | 873 | 238 | 37.1 | 174 | -327 | 1,341 | 207 |
| Depreciation and amortization | 529 | 423 | 308 | 270 | 260 | 233 | 205 | 131 | 91.9 | 204 |
| Capital expenditure | -870 | -1,526 | -1,387 | -904 | -540 | -417 | -669 | -740 | -514 | -229 |
| Investing cash flow | -765 | -1,563 | -473 | -1,193 | -99.0 | — | — | — | — | — |
| Financing cash flow | -119 | 24.8 | 337 | 309 | 40.6 | — | — | — | — | — |
| Share repurchases | -15.5 | -20.2 | -31.1 | -12.1 | -16.0 | — | — | — | — | — |
| Debt issued | 858 | 258 | 368 | 397 | 129 | — | — | — | — | — |
| Debt repaid | -961 | -206 | 0.0 | -75.9 | -72.7 | — | — | — | — | — |
| Effect of exchange rates | 3.1 | -6.4 | 5.3 | 47.4 | 3.2 | — | — | — | — | — |
| Net change in cash | 1,176 | -327 | 472 | 37.6 | 182 | — | — | — | — | — |
| Free cash flow | 1,187 | -308 | -785 | -30.2 | -303 | — | — | — | — | — |
| Levered free cash flow | 964 | -363 | -1,647 | -318 | -172 | — | — | — | — | — |