First Solar (FSLR) Debt Ratio (2009 - 2026)
First Solar's Debt Ratio came in at 0.01 for Q3 2026, down 81.4% from 0.04 a year earlier but up 173.2% from the prior quarter.
Powered by 
Analysis
First Solar (FSLR) Debt Ratio (2009 - 2026) Analysis & Trends
For FY2025, First Solar's Debt Ratio was 0.04, down 25.6% from FY2024.
- Going back by year, Debt Ratio was 0.05 in FY2024 (-7.0%), 0.05 in FY2023 (+142.0%), 0.02 in FY2022 (-31.0%) and 0.03 in FY2021 (-17.6%).
- The five-year range for quarterly Debt Ratio is 0.00 (Q2 2026) to 0.06 (Q1 2024).
- Year-over-year, Debt Ratio has declined for nine consecutive quarters, with an average decline of 36.1% over the last eight quarters.
- The fastest year-over-year change in Debt Ratio over five years came in Q4 2023 (growth of 142.0%), and the weakest in Q2 2026 (a decline of 93.7%).
- Business Quant data shows FSLR's Debt Ratio at 0.00 (Q2 2026), 0.03 (Q1 2026) and 0.04 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 210.90 Bn | 163.15 Bn | 3.11 Bn | 0.03 |
| 2 | Bloom Energy | 54.82 Bn | 44.75 Bn | 417.10 Mn | 0.00 |
| 3 | First Solar | 19.45 Bn | 10.82 Bn | 713.06 Mn | 0.01 |
| 4 | Nextpower | 15.04 Bn | 10.75 Bn | 345.32 Mn | - |
| 5 | BWX Technologies | 11.61 Bn | 9.39 Bn | 227.14 Mn | 0.43 |
| 6 | Generac Holdings | 10.72 Bn | 9.45 Bn | 516.04 Mn | 0.22 |
| 7 | Innio | 10.33 Bn | 6.57 Bn | 367.70 Mn | 0.42 |
| 8 | EnerSys | 5.50 Bn | 3.69 Bn | 313.36 Mn | 0.26 |
| 9 | Mirion Technologies | 4.67 Bn | 3.08 Bn | 131.50 Mn | 0.13 |
| 10 | X-Energy | 4.46 Bn | 3.10 Bn | -32.06 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 0.01 |
| Jun 30, 2026 | 0.00 |
| Mar 31, 2026 | 0.03 |
| Dec 31, 2025 | 0.04 |
| Sep 30, 2025 | 0.04 |
| Jun 30, 2025 | 0.04 |
| Mar 31, 2025 | 0.04 |
| Dec 31, 2024 | 0.05 |
| Sep 30, 2024 | 0.05 |
| Jun 30, 2024 | 0.05 |
| Mar 31, 2024 | 0.06 |
| Dec 31, 2023 | 0.05 |
| Sep 30, 2023 | 0.05 |
| Jun 30, 2023 | 0.05 |
| Mar 31, 2023 | 0.04 |
| Dec 31, 2022 | 0.02 |
| Sep 30, 2022 | 0.03 |
| Jun 30, 2022 | 0.02 |
| Mar 31, 2022 | 0.03 |
| Dec 31, 2021 | 0.03 |
API Access
First Solar Debt Ratio 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=debt-ratio&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "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=debt-ratio&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();