First Solar (FSLR) Cost of Revenue (2009 - 2026)
First Solar (FSLR) reported Cost of Revenue of $558.1 million for Q1 2026, up 11.58% on a YoY basis from $500.2 million in Q1 2025, and down 45.15% quarter-over-quarter from $1.0 billion in Q4 2025.
First Solar (FSLR) Cost of Revenue (2009 - 2026) Analysis & Trends
First Solar has reported Cost of Revenue for 18 years, with the latest figure at $558.1 million in Q1 2026.
- For the quarter ending Q1 2026, Cost of Revenue rose 11.58% year-over-year to $558.1 million; the trailing twelve-month figure through Mar 2026 stood at $3.2 billion (up 31.51% YoY), and the FY2025 full-year result was $3.1 billion, up 31.96% from the prior year.
- Cost of Revenue for Q1 2026 stood at $558.1 million, down from $1.0 billion in the prior quarter.
- The five-year high for Cost of Revenue was $1.0 billion in Q4 2025, with the low at $355.6 million in Q1 2022.
- Historically, Cost of Revenue has averaged $621.9 million across 5 years, with a median of $558.1 million in 2026.
- Annual changes were most pronounced in 2022 — Cost of Revenue sank 42.52% — and 2025, when it jumped 122.47%.
- First Solar's Cost of Revenue stood at $941.8 million in 2022, then sank by 30.29% to $656.5 million in 2023, then soared by 44.15% to $946.4 million in 2024, then rose by 7.51% to $1.0 billion in 2025, then tumbled by 45.15% to $558.1 million in 2026.
- The last three Cost of Revenue figures came in at $558.1 million (Q1 2026), $1.0 billion (Q4 2025), and $984.1 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | 558.11 Mn |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 583.14 Mn |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | 48.09 Mn |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | 242.22 Mn |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | 178.53 Mn |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | 99.55 Mn |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | 160.41 Mn |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | 1.63 Bn |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | 14.40 Mn |
| 10 | Skycorp Solar | 110.38 Mn | 103.60 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 558.11 Mn |
| Mar 31, 2026 | 558.11 Mn |
| Dec 31, 2025 | 1.02 Bn |
| Dec 31, 2025 | 1.02 Bn |
| Sep 30, 2025 | 984.11 Mn |
| Sep 30, 2025 | 984.11 Mn |
| Jun 30, 2025 | 597.32 Mn |
| Jun 30, 2025 | 597.32 Mn |
| Mar 31, 2025 | 500.17 Mn |
| Mar 31, 2025 | 500.17 Mn |
| Dec 31, 2024 | 946.37 Mn |
| Dec 31, 2024 | 946.37 Mn |
| Sep 30, 2024 | 442.36 Mn |
| Sep 30, 2024 | 442.36 Mn |
| Jun 30, 2024 | 511.59 Mn |
| Jun 30, 2024 | 511.59 Mn |
| Mar 31, 2024 | 448.11 Mn |
| Mar 31, 2024 | 448.11 Mn |
| Dec 31, 2023 | 656.52 Mn |
| Dec 31, 2023 | 656.52 Mn |