First Solar (FSLR) Cost of Revenue (2009 - 2026)
First Solar's Cost of Revenue came in at $451.19 million for Q2 2026, down 24.5% from $597.32 million a year earlier and down 19.2% from the prior quarter.
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Analysis
First Solar (FSLR) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, First Solar reported Cost of Revenue of $3.01 billion, up 21.1% year-over-year; for FY2025, it came in at $3.1 billion, up 32.0% from FY2024.
- Cost of Revenue carries a five-year compound annual growth rate of 8.8% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $2.35 billion in FY2024 (+16.4%), $2.02 billion in FY2023 (-20.8%), $2.55 billion in FY2022 (+16.2%) and $2.19 billion in FY2021 (+8.0%).
- The Q2 2026 figure represents the lowest quarterly Cost of Revenue since Q3 2024.
- Year-over-year, Cost of Revenue increased in seven of the last eight quarters, with growth averaging 24.2%.
- The fastest year-over-year change in Cost of Revenue over five years came in Q3 2025 (growth of 122.5%), and the weakest in Q1 2022 (a decline of 42.5%).
- Business Quant data shows FSLR's Cost of Revenue at $558.11 million (Q1 2026), $1.02 billion (Q4 2025) and $984.11 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 263.36 Bn | 224.44 Bn | 2.36 Bn | 8.74 Bn |
| 2 | Bloom Energy | 84.85 Bn | 76.67 Bn | 355.57 Mn | 709.79 Mn |
| 3 | First Solar | 18.77 Bn | 9.72 Bn | 605.00 Mn | 451.19 Mn |
| 4 | Generac Holdings | 12.79 Bn | 11.62 Bn | 521.81 Mn | 651.70 Mn |
| 5 | Nextpower | 12.78 Bn | 8.68 Bn | 335.85 Mn | 599.32 Mn |
| 6 | BWX Technologies | 12.36 Bn | 10.66 Bn | 202.31 Mn | 699.32 Mn |
| 7 | EnerSys | 7.13 Bn | 5.32 Bn | 313.36 Mn | 622.28 Mn |
| 8 | Enphase Energy | 4.42 Bn | -436.70 Mn | 175.01 Mn | 116.84 Mn |
| 9 | Mirion Technologies | 3.57 Bn | 1.46 Bn | 133.10 Mn | 133.70 Mn |
| 10 | Nuscale Power | 3.18 Bn | 3.13 Bn | -152,000.00 | 227,000.00 |
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 |
API Access
First Solar Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FSLR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();