First Solar (FSLR) Debt to Equity (2009 - 2026)
First Solar posted quarterly Debt to Equity of $0.04 for Q1 2026, down 32.8% year-on-year from $0.06 in Q1 2025, and down 17.55% on a QoQ basis from $0.05 in Q4 2025.
First Solar (FSLR) has 18 years of Debt to Equity data on file, last reported at $0.04 in Q1 2026.
- For the quarter ending Q1 2026, Debt to Equity fell 32.8% year-over-year to $0.04; the trailing twelve-month figure through Mar 2026 stood at $0.04 (down 32.8% YoY), and the FY2025 full-year result was $0.05, down 31.61% from the prior year.
- Debt to Equity for Q1 2026 stood at $0.04, down from $0.05 in the prior quarter.
- Across five years, Debt to Equity topped out at $0.09 in Q1 2024 and bottomed at $0.0 in Q1 2022.
- The 5-year median for Debt to Equity is $0.06 (2025), against an average of $0.05.
- The widest annual swing landed in 2024, when Debt to Equity surged 7650.54%; it then sank 32.8% in 2026.
- A 5-year view of Debt to Equity shows it stood at $0.03 in 2022, then jumped by 165.24% to $0.08 in 2023, then declined by 8.77% to $0.08 in 2024, then plunged by 31.61% to $0.05 in 2025, then slipped by 17.55% to $0.04 in 2026.
- The last three Debt to Equity figures came in at $0.04 (Q1 2026), $0.05 (Q4 2025), and $0.06 (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 0.04 |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | - |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 1.36 |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 0.52 |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | - |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | 0.13 |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 0.30 |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | -3.11 |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | 0.71 |
| 10 | Tigo Energy | 288.14 Mn | 276.56 Mn | 10.79 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.04 |
| Dec 31, 2025 | 0.05 |
| Sep 30, 2025 | 0.06 |
| Jun 30, 2025 | 0.07 |
| Mar 31, 2025 | 0.06 |
| Dec 31, 2024 | 0.08 |
| Sep 30, 2024 | 0.08 |
| Jun 30, 2024 | 0.08 |
| Mar 31, 2024 | 0.09 |
| Dec 31, 2023 | 0.08 |
| Sep 30, 2023 | 0.08 |
| Jun 30, 2023 | 0.07 |
| Mar 31, 2023 | 0.00 |
| Dec 31, 2022 | 0.03 |
| Sep 30, 2022 | 0.00 |
| Jun 30, 2022 | 0.00 |
| Mar 31, 2022 | 0.00 |
| Dec 31, 2021 | 0.04 |
| Sep 30, 2021 | 0.00 |
| Jun 30, 2021 | 0.00 |
| Mar 31, 2021 | 0.00 |
| Dec 31, 2020 | 0.05 |
| Sep 30, 2020 | 0.00 |
| Jun 30, 2020 | 0.00 |
| Mar 31, 2020 | 0.00 |
| Dec 31, 2019 | 0.09 |
| Sep 30, 2019 | 0.00 |
| Jun 30, 2019 | 0.00 |
| Mar 31, 2019 | 0.00 |
| Dec 31, 2018 | 0.09 |
| Sep 30, 2018 | 0.09 |
| Jun 30, 2018 | 0.09 |
| Mar 31, 2018 | 0.08 |
| Dec 31, 2017 | 0.08 |
| Sep 30, 2017 | 0.06 |
| Jun 30, 2017 | 0.06 |
| Mar 31, 2017 | 0.05 |
| Dec 31, 2016 | 0.04 |
| Sep 30, 2016 | 0.13 |
| Jun 30, 2016 | 0.04 |
| Mar 31, 2016 | 0.05 |
| Dec 31, 2015 | 0.05 |
| Sep 30, 2015 | 0.05 |
| Jun 30, 2015 | 0.06 |
| Mar 31, 2015 | 0.05 |
| Dec 31, 2014 | 0.04 |
| Sep 30, 2014 | 0.05 |
| Jun 30, 2014 | 0.04 |
| Mar 31, 2014 | 0.04 |
| Dec 31, 2013 | 0.05 |
| Sep 30, 2013 | 0.05 |
| Jun 30, 2013 | 0.06 |
| Mar 31, 2013 | 0.15 |
| Dec 31, 2012 | 0.16 |
| Sep 30, 2012 | 0.15 |
| Jun 30, 2012 | 0.15 |
| Mar 31, 2012 | 0.27 |
| Dec 31, 2011 | 0.18 |
| Sep 30, 2011 | 0.15 |
| Jun 30, 2011 | 0.10 |
| Mar 31, 2011 | 0.04 |
| Dec 31, 2010 | 0.07 |
| Sep 25, 2010 | 0.08 |
| Jun 26, 2010 | 0.05 |
| Mar 27, 2010 | 0.06 |
| Dec 26, 2009 | 0.07 |
| Sep 26, 2009 | 0.08 |
| Jun 27, 2009 | 0.10 |