Growth Metrics

First Solar (FSLR) Change in Inventory (2020 - 2026)

First Solar posted quarterly Change in Inventory of $143.8 million for Q1 2026, down 29.08% year-on-year from $202.8 million in Q1 2025, and up 138.01% on a QoQ basis from -$378.4 million in Q4 2025.

First Solar (FSLR) has 7 years of Change in Inventory data on file, last reported at $143.8 million in Q1 2026.

  • For the quarter ending Q1 2026, Change in Inventory fell 29.08% year-over-year to $143.8 million; the trailing twelve-month figure through Mar 2026 stood at -$436.7 million (down 232.28% YoY), and the FY2025 full-year result was -$377.7 million, down 236.46% from the prior year.
  • Change in Inventory for Q1 2026 stood at $143.8 million, up from -$378.4 million in the prior quarter.
  • Across five years, Change in Inventory topped out at $218.9 million in Q3 2024 and bottomed at -$378.4 million in Q4 2025.
  • The 5-year median for Change in Inventory is $66.0 million (2024), against an average of $13.6 million.
  • The widest annual swing landed in 2022, when Change in Inventory sank 989.02%; it then jumped 3395.33% in 2023.
  • A 5-year view of Change in Inventory shows it stood at -$180.9 million in 2022, then jumped by 68.18% to -$57.6 million in 2023, then plunged by 173.75% to -$157.6 million in 2024, then tumbled by 140.15% to -$378.4 million in 2025, then soared by 138.01% to $143.8 million in 2026.
  • The last three Change in Inventory figures came in at $143.8 million (Q1 2026), -$378.4 million (Q4 2025), and -$323.1 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Change in Inventory (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn 143.82 Mn
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn -
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn -
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn 2.65 Mn
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn 38.34 Mn
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn -30.90 Mn
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 69.63 Mn
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn -
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn -
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn -6.37 Mn

Historic Data

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DateValue
Mar 31, 2026 143.82 Mn
Mar 31, 2026 143.82 Mn
Dec 31, 2025 -378.40 Mn
Dec 31, 2025 -378.40 Mn
Sep 30, 2025 -323.10 Mn
Sep 30, 2025 -323.10 Mn
Jun 30, 2025 121.00 Mn
Jun 30, 2025 121.00 Mn
Mar 31, 2025 202.78 Mn
Mar 31, 2025 202.78 Mn
Dec 31, 2024 -157.57 Mn
Dec 31, 2024 -157.57 Mn
Sep 30, 2024 218.88 Mn
Sep 30, 2024 218.88 Mn
Jun 30, 2024 66.02 Mn
Jun 30, 2024 66.02 Mn
Mar 31, 2024 149.47 Mn
Mar 31, 2024 149.47 Mn
Dec 31, 2023 -57.56 Mn
Dec 31, 2023 -57.56 Mn
Sep 30, 2023 131.04 Mn
Sep 30, 2023 131.04 Mn
Jun 30, 2023 8.63 Mn
Jun 30, 2023 8.63 Mn
Mar 31, 2023 123.00 Mn
Mar 31, 2023 123.00 Mn
Dec 31, 2022 -180.90 Mn
Dec 31, 2022 -180.90 Mn
Sep 30, 2022 3.75 Mn
Sep 30, 2022 3.75 Mn
Jun 30, 2022 -15.53 Mn
Jun 30, 2022 -15.53 Mn
Mar 31, 2022 175.99 Mn
Mar 31, 2022 175.99 Mn
Dec 31, 2021 20.35 Mn
Dec 31, 2021 20.35 Mn
Sep 30, 2021 54.08 Mn
Sep 30, 2021 54.08 Mn
Jun 30, 2021 74.54 Mn
Jun 30, 2021 74.54 Mn
Mar 31, 2021 -12.60 Mn
Mar 31, 2021 -12.60 Mn
Dec 31, 2020 3.38 Mn
Dec 31, 2020 3.38 Mn
Sep 30, 2020 61.95 Mn
Sep 30, 2020 61.95 Mn
Jun 30, 2020 31.18 Mn
Jun 30, 2020 31.18 Mn
Mar 31, 2020 48.90 Mn
Mar 31, 2020 48.90 Mn