First Solar (FSLR) Cost of Revenue (2009 - 2026)
First Solar (FSLR) posted Cost of Revenue of $558.1 million for Q1 2026, down 45.15% on a QoQ basis from $1.0 billion in Q4 2025, and up 11.58% year-over-year from $500.2 million in Q1 2025.
First Solar (FSLR) Cost of Revenue (2009 - 2026) Analysis & Trends
First Solar's Cost of Revenue history runs 18 years deep, the most recent figure standing at $558.1 million for Q1 2026.
- Quarterly Cost of Revenue rose 11.58% year-over-year to $558.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $3.2 billion (up 31.51% YoY) and the FY2025 annual result came in at $3.1 billion, up 31.96% from the prior year.
- Cost of Revenue was $558.1 million for Q1 2026 at First Solar, down from $1.0 billion 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.
- A 5-year average of $621.9 million and a median of $558.1 million in 2026 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue plunged 42.52% — and 2025, when it jumped 122.47%.
- First Solar's 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 sank by 45.15% to $558.1 million in 2026.
- Business Quant data shows FSLR's Cost of Revenue at $558.1 million in Q1 2026, $1.0 billion in Q4 2025, and $984.1 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 22.08 Bn | 19.65 Bn | 486.13 Mn | 558.11 Mn |
| 2 | Nextpower | 15.32 Bn | 14.23 Bn | 297.38 Mn | 583.14 Mn |
| 3 | Enphase Energy | 4.98 Bn | 4.05 Bn | 100.39 Mn | 182.51 Mn |
| 4 | JinkoSolar Holding | 3.20 Bn | -107.75 Mn | 147.66 Mn | 1.63 Bn |
| 5 | Solaredge Technologies | 2.60 Bn | 2.04 Bn | 68.28 Mn | 242.22 Mn |
| 6 | Sunrun | 2.35 Bn | 687.09 Mn | 407.49 Mn | 314.74 Mn |
| 7 | Shoals Technologies | 1.55 Bn | 1.55 Bn | 41.01 Mn | 99.55 Mn |
| 8 | Canadian Solar | 925.64 Mn | 166.07 Mn | 124.40 Mn | 1.09 Bn |
| 9 | Array Technologies | 843.55 Mn | 642.85 Mn | 63.00 Mn | 160.41 Mn |
| 10 | Toyo | 182.74 Mn | 106.10 Mn | 47.76 Mn | 95.01 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 |