First Solar (FSLR): financials, SEC filings and peers
First Solar (FSLR) is a semiconductors company in the Information Technology sector of the S&P 500, headquartered in Tempe, Arizona.
It was founded in 1999 and joined the S&P 500 on December 19, 2022.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Semiconductors & Related Devices”.
First Solar at a glance
- Revenue (12 months)
- $5.0B
- Revenue growth
- -0.7%
- Operating margin
- 37.7%
- Net income (12 months)
- $1.9B
- Free cash flow (12 months)
- $233M
- Cash
- $1.6B
- Debt
- $108M
- Diluted EPS (12 months)
- $17.28
Twelve months to September 30, 2026, from the 10-Q filed October 29, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, First Solar reported revenue of $5.0 billion, about the same as a year earlier (-0.7%).
Its operating margin was 37.7%, up 7.9 percentage points from a year earlier: for every $100 of sales, about $38 was left as operating profit.
Net income was $1.9 billion (37.1% of revenue), 32.9% higher than a year earlier.
Operating cash flow was $839 million and capital spending $606 million, leaving free cash flow of $233 million (4.6% of revenue).
At the end of the period it held $1.6 billion in cash and $108 million in debt, a net cash position of $1.5 billion.
Five-year trend
- Revenue went from $2.7 billion in fiscal 2020 to $5.2 billion in fiscal 2025, about 14.0% a year.
- Revenue has grown for 3 fiscal years in a row.
- Operating margin widened from 11.7% to 30.6% over the same years.
- Free cash flow was negative in 5 of the last 6 fiscal years.
- First Solar reported a net loss in 1 of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $2.6B | $3.3B | $4.2B | $5.2B |
| Revenue growth | 7.8% | -10.4% | 26.7% | 26.7% | 24.1% |
| Operating margin | 20.1% | -1.0% | 25.8% | 33.2% | 30.6% |
| Net income | $469M | −$44M | $831M | $1.3B | $1.5B |
| Free cash flow | −$303M | −$30M | −$785M | −$308M | $1.2B |
| Diluted EPS | $4.38 | $-0.41 | $7.74 | $12.02 | $14.21 |
Fiscal years as reported in First Solar’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
Companies like First Solar
Other S&P 500 companies in Semiconductors:
- ADIAnalog DevicesWilmington, Massachusetts
- AMDAdvanced Micro DevicesSanta Clara, California
- AVGOBroadcomPalo Alto, California
- INTCIntelSanta Clara, California
- MCHPMicrochip TechnologyChandler, Arizona
- MPWRMonolithic Power SystemsKirkland, Washington
- MRVLMarvell TechnologySanta Clara, California
- MUMicron TechnologyBoise, Idaho
More from Information Technology
Questions about First Solar
Is First Solar's revenue growing?
No. Revenue for the twelve months to September 30, 2026 was $5.0 billion, down 0.7% from a year earlier, according to its SEC filings.
Is First Solar profitable?
Yes. It earned $1.9 billion in net income over the twelve months to September 30, 2026, a net margin of 37.1%.
Does First Solar have more cash or more debt?
At September 30, 2026 it had $1.6 billion in cash and $108 million in debt, so more cash than debt.
When did First Solar last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 29, 2026.
Which companies are similar to First Solar?
In the S&P 500, First Solar is grouped in Semiconductors within the Information Technology sector. Analog Devices (ADI), Advanced Micro Devices (AMD), Broadcom (AVGO), Intel (INTC), Microchip Technology (MCHP) are in the same group.
Understand the numbers
Source: First Solar’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.