Also trades as: 0R06.L (LSE) · $vol 1M · F3A.DE (XETRA) · $vol 0M · FSLR.SW (SIX) · $vol 0M

$175.85

+7.70 (+4.58%)

After Hours: $175.82 (-0.03, -0.01%)

Weekly Expected Move ±4.4%

$157 $164 $172 $180 $187

NASDAQ · Energy · Solar · Tech Score Sell · Power 46 · $18.1B mcap · 102M float · 2.14% daily turnover · Short 60% of daily vol

Credit Risk of going bust: lower than 85% of companies Debt: 1.1% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.08 (down more than 99.9%), First Solar, Inc. would be worth roughly what it owes.
Total debt $194.0M against a stock market value of $18.07B.
Distance to default 11.17 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $37.6M (short-term plus half of long-term), stock volatility 54.4%; Altman Z 5.47. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$5.2B +24.1% ▲

5Y CAGR: +14.0%

Gross Profit

$2.1B +14.1% ▲

5Y CAGR: +25.5%

Operating Income

$1.6B +14.5% ▲

5Y CAGR: +38.1%

Net Income

$1.5B +18.3% ▲

5Y CAGR: +30.9%

EPS (Diluted)

$14.21 +18.2% ▲

5Y CAGR: +30.7%

EBITDA

$2.2B +15.3% ▲

5Y CAGR: +31.4%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.9B	$2.6B	$3.3B	$4.2B	$5.2B
YoY Growth	+7.8%	-10.4%	+26.7%	+26.7%	+24.1%
Cost of Revenue	$2.2B	$2.5B	$2.0B	$2.3B	$3.1B
Gross Profit	$730M	$70M	$1.3B	$1.9B	$2.1B
Gross Margin	25.0%	2.7%	39.2%	44.2%	40.6%
R&D Expenses	$99M	$113M	$152M	$191M	$233M
SG&A Expenses	$170M	$165M	$198M	$188M	$204M
Operating Expenses	$143M	$97M	$443M	$463M	$523M
Operating Income	$587M	-$27M	$857M	$1.4B	$1.6B
Operating Margin	20.1%	-1.0%	25.8%	33.2%	30.6%
Interest Expense	$13M	$12M	$13M	$39M	$44M
Income Before Tax	$572M	$9M	$891M	$1.4B	$1.6B
Tax Expense	$103M	$53M	$61M	$114M	$53M
Net Income	$469M	-$44M	$831M	$1.3B	$1.5B
Net Margin	16.0%	-1.7%	25.0%	30.7%	29.3%
EPS (Diluted)	$4.38	$-0.41	$7.74	$12.02	$14.21
EBITDA	$845M	$291M	$1.2B	$1.9B	$2.2B
Shares Outstanding	107M	107M	107M	108M	108M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$888M	$1.5B	$845M	$1.1B	$1.6B	$1.7B	$1.0B	$1.1B
Cost of Revenue	$442M	$946M	$500M	$597M	$984M	$1.0B	$558M	$451M
Gross Profit	$445M	$568M	$344M	$500M	$611M	$665M	$486M	$605M
Gross Margin	50.2%	37.5%	40.8%	45.6%	38.3%	39.5%	46.6%	57.3%
R&D Expenses	$50M	$46M	$52M	$54M	$61M	$66M	$67M	$76M
SG&A Expenses	$46M	$50M	$53M	$53M	$47M	$51M	$65M	$52M
Operating Expenses	$123M	$111M	$123M	$138M	$145M	$117M	$141M	$155M
Operating Income	$322M	$457M	$221M	$362M	$466M	$549M	$345M	$450M
Operating Margin	36.3%	30.2%	26.2%	33.0%	29.2%	32.6%	33.1%	42.6%
Interest Expense	$9M	$11M	$10M	$9M	$14M	$11M	$8M	$6M
Income Before Tax	$327M	$446M	$217M	$352M	$460M	$551M	$354M	$459M
Tax Expense	$14M	$53M	$8M	$10M	$4M	$30M	$8M	$37M
Net Income	$313M	$393M	$210M	$342M	$456M	$521M	$347M	$423M
Net Margin	35.3%	26.0%	24.8%	31.2%	28.6%	31.0%	33.2%	40.0%
EPS (Diluted)	$2.91	$3.65	$1.95	$3.18	$4.24	$4.84	$3.22	$3.92
EBITDA	$448M	$582M	$352M	$486M	$613M	$703M	$509M	$613M
Shares Outstanding	108M	108M	107M	107M	108M	108M	108M	108M

FSLR NASDAQ