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% YoY from $597.3 million in Q2 2025, and down 19.16% on a QoQ basis from $558.1 million in Q1 2026.
First Solar (FSLR) Cost of Revenue (2009 - 2026) Analysis & Trends
First Solar (FSLR) has 18 years of Cost of Revenue data on file, last reported at $451.2 million in Q2 2026.
- Quarterly Cost of Revenue fell 24.46% year-over-year to $451.2 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $3.0 billion (up 21.1% YoY) and the FY2025 annual result came in at $3.1 billion, up 31.96% from the prior year.
- Cost of Revenue slipped to $451.2 million in Q2 2026, from $558.1 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $1.0 billion in Q4 2025 to a low of $355.6 million in Q1 2022.
- A 5-year average of $612.5 million and a median of $534.9 million in 2024 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue sank 42.52% — and 2025, when it jumped 122.47%.
- Tracing FSLR's Cost of Revenue over 5 years: 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 sank by 55.65% to $451.2 million in 2026.
- The last three Cost of Revenue figures came in at $451.2 million (Q2 2026), $558.1 million (Q1 2026), and $1.0 billion (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 451.19 Mn |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 599.32 Mn |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 116.84 Mn |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 342.45 Mn |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 251.09 Mn |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 113.85 Mn |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 1.09 Bn |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | 1.63 Bn |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 242.46 Mn |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | 95.01 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 451.19 Mn |
| Jun 30, 2026 | 451.19 Mn |
| 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 |