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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -145 | -215 | 1,242 | 1,274 | 150 | -608 | 811 | -53.7 | 193 | 268 | 561 | 165 |
| Depreciation and amortization | 148 | 147 | 141 | 138 | 123 | 125 | 124 | 111 | 97.3 | 90.6 | 89.7 | 77.7 |
| Capital expenditure | -161 | -119 | -172 | -204 | -288 | -206 | -314 | -434 | -365 | -413 | -347 | -286 |
| Investing cash flow | -143 | -149 | -187 | -228 | -262 | -88.2 | -221 | -666 | -107 | -569 | -173 | 444 |
| Financing cash flow | -392 | -72.2 | -244 | -223 | 447 | -99.6 | 30.7 | 21.8 | -68.4 | 40.7 | 60.7 | 59.5 |
| Share repurchases | -0.0 | -0.2 | -0.0 | -0.0 | -0.0 | -15.4 | -0.0 | -1.0 | -0.2 | -19.0 | -0.0 | -0.9 |
| Debt issued | 148 | 60.8 | 61.4 | 190 | 514 | 92.3 | 30.8 | 117 | 5.0 | 105 | 60.8 | 60.4 |
| Debt repaid | -540 | -132 | -305 | -412 | -67.6 | -176 | — | -94.4 | -65.6 | -45.8 | — | — |
| Effect of exchange rates | 5.9 | -2.0 | 1.1 | -1.4 | 1.9 | 1.6 | -3.6 | 2.8 | -3.7 | -1.9 | 6.1 | -3.3 |
| Net change in cash | -674 | -438 | 812 | 822 | 336 | -794 | 617 | -695 | 13.7 | -262 | 455 | 666 |
| Free cash flow | -306 | -333 | 1,070 | 1,070 | -139 | -814 | 497 | -488 | -172 | -146 | 214 | -121 |
| Levered free cash flow | -42.1 | 183 | 410 | 1,045 | -493 | -0.4 | -385 | -521 | 84.6 | 458 | -491 | -184 |