First Solar (FSLR) Cost of Revenue (2009 - 2026)
First Solar's (FSLR) quarterly Cost of Revenue came in at $451.2 million in Q2 2026, down 24.46% on a YoY basis from $597.3 million in Q2 2025, and down 19.16% quarter-over-quarter from $558.1 million in Q1 2026.
Analysis
First Solar (FSLR) Cost of Revenue (2009 - 2026) Analysis & Trends
First Solar (FSLR) has reported Cost of Revenue for 18 consecutive years, with $451.2 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Cost of Revenue fell 24.46% year-over-year to $451.2 million; the trailing twelve-month figure through Jun 2026 stood at $3.0 billion (up 21.1% YoY), and the FY2025 full-year result was $3.1 billion, up 31.96% from the prior year.
- Cost of Revenue fell to $451.2 million in Q2 2026 per FSLR's latest filing, from $558.1 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $1.0 billion in Q4 2025 and bottomed at $355.6 million in Q1 2022.
- Historically, Cost of Revenue has averaged $612.5 million across 5 years, with a median of $534.9 million in 2024.
- The sharpest annual moves came in 2022 and 2025: Cost of Revenue slumped 42.52% in 2022, then surged 122.47% in 2025.
- Over 5 years, Cost of Revenue stood at $941.8 million in 2022, then tumbled by 30.29% to $656.5 million in 2023, then surged by 44.15% to $946.4 million in 2024, then advanced by 7.51% to $1.0 billion in 2025, then tumbled by 55.65% to $451.2 million in 2026.
- According to Business Quant data, Cost of Revenue over the past three periods registered $451.2 million, $558.1 million, and $1.0 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 21.97 Bn | 20.25 Bn | 605.00 Mn | 451.19 Mn |
| 2 | Nextpower | 12.81 Bn | 11.60 Bn | 335.85 Mn | 599.32 Mn |
| 3 | Enphase Energy | 4.81 Bn | 3.87 Bn | 175.01 Mn | 116.84 Mn |
| 4 | Solaredge Technologies | 2.10 Bn | 1.52 Bn | 95.15 Mn | 251.09 Mn |
| 5 | T1 Energy | 1.29 Bn | 1.14 Bn | 49.10 Mn | 201.03 Mn |
| 6 | Shoals Technologies | 1.20 Bn | 1.18 Bn | 49.53 Mn | 113.85 Mn |
| 7 | Canadian Solar | 896.45 Mn | 597.20 Mn | 168.48 Mn | 1.04 Bn |
| 8 | Array Technologies | 708.44 Mn | 401.13 Mn | 99.60 Mn | 242.46 Mn |
| 9 | JinkoSolar Holding | 627.24 Mn | -480.04 Mn | 75.62 Mn | 1.75 Bn |
| 10 | Toyo | 133.94 Mn | 23.90 Mn | 36.97 Mn | 81.22 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 451.19 Mn |
| Mar 31, 2026 | 558.11 Mn |
| Dec 31, 2025 | 1.02 Bn |
| Sep 30, 2025 | 984.11 Mn |
| Jun 30, 2025 | 597.32 Mn |
| Mar 31, 2025 | 500.17 Mn |
| Dec 31, 2024 | 946.37 Mn |
| Sep 30, 2024 | 442.36 Mn |
| Jun 30, 2024 | 511.59 Mn |
| Mar 31, 2024 | 448.11 Mn |
| Dec 31, 2023 | 656.52 Mn |
| Sep 30, 2023 | 424.92 Mn |
| Jun 30, 2023 | 500.25 Mn |
| Mar 31, 2023 | 436.24 Mn |
| Dec 31, 2022 | 941.78 Mn |
| Sep 30, 2022 | 607.95 Mn |
| Jun 30, 2022 | 644.16 Mn |
| Mar 31, 2022 | 355.58 Mn |
| Dec 31, 2021 | 660.83 Mn |
| Sep 30, 2021 | 458.92 Mn |