First Solar (FSLR) EBITDA Margin (2009 - 2026)
First Solar (FSLR) posted EBITDA Margin of 33.07% for Q1 2026, up 1.56% on a QoQ basis from 32.56% in Q4 2025, and up 687.0% year-over-year from 4.2% in Q1 2025.
First Solar (FSLR) EBITDA Margin (2009 - 2026) Analysis & Trends
First Solar's EBITDA Margin history runs 18 years deep, the most recent figure standing at 33.07% for Q1 2026.
- Quarterly EBITDA Margin rose 687.0% year-over-year to 33.07% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 31.76% (down 49.0% YoY) and the FY2025 annual result came in at 30.59%, down 256.0% from the prior year.
- EBITDA Margin was 33.07% for Q1 2026 at First Solar, up from 32.56% in the prior quarter.
- Across five years, EBITDA Margin topped out at 36.86% in Q2 2024 and bottomed at 15.75% in Q1 2022.
- A 5-year average of 21.91% and a median of 30.17% in 2024 frame the typical range for EBITDA Margin.
- Annual changes were most pronounced in 2022 — EBITDA Margin sank 4716 bps — and 2023, when it jumped 4494 bps.
- First Solar's EBITDA Margin stood at 4.58% in 2022, then soared by 850 bps to 34.33% in 2023, then decreased by 12 bps to 30.17% in 2024, then increased by 8 bps to 32.56% in 2025, then gained by 2 bps to 33.07% in 2026.
- Business Quant data shows FSLR's EBITDA Margin at 33.07% in Q1 2026, 32.56% in Q4 2025, and 29.22% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 22.08 Bn | 19.65 Bn | 486.13 Mn | 33.07% |
| 2 | Nextpower | 15.32 Bn | 14.23 Bn | 297.38 Mn | 17.44% |
| 3 | Enphase Energy | 4.98 Bn | 4.05 Bn | 100.39 Mn | -10.48% |
| 4 | JinkoSolar Holding | 3.20 Bn | -107.75 Mn | 147.66 Mn | -4.78% |
| 5 | Solaredge Technologies | 2.60 Bn | 2.04 Bn | 68.28 Mn | -17.73% |
| 6 | Sunrun | 2.35 Bn | 687.09 Mn | 407.49 Mn | -6.02% |
| 7 | Shoals Technologies | 1.55 Bn | 1.55 Bn | 41.01 Mn | 5.49% |
| 8 | Canadian Solar | 925.64 Mn | 166.07 Mn | 124.40 Mn | -5.26% |
| 9 | Array Technologies | 843.55 Mn | 642.85 Mn | 63.00 Mn | 3.18% |
| 10 | Toyo | 182.74 Mn | 106.10 Mn | 47.76 Mn | 25.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 33.07% |
| Dec 31, 2025 | 32.56% |
| Sep 30, 2025 | 29.22% |
| Jun 30, 2025 | 32.96% |
| Mar 31, 2025 | 26.20% |
| Dec 31, 2024 | 30.17% |
| Sep 30, 2024 | 36.27% |
| Jun 30, 2024 | 36.86% |
| Mar 31, 2024 | 30.62% |
| Dec 31, 2023 | 34.33% |
| Sep 30, 2023 | 34.07% |
| Jun 30, 2023 | 20.79% |
| Mar 31, 2023 | 3.28% |
| Dec 31, 2022 | -4.58% |
| Sep 30, 2022 | -10.87% |
| Jun 30, 2022 | 23.32% |
| Mar 31, 2022 | -15.75% |
| Dec 31, 2021 | 19.08% |
| Sep 30, 2021 | 8.72% |
| Jun 30, 2021 | 17.54% |