First Solar (FSLR) EBITDA Margin (2014 - 2026)
First Solar's EBITDA Margin was 56.39% in Q3 2026, up 18.87 percentage points from 37.52% a year earlier but down 0.25 percentage points from the prior quarter.
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Analysis
First Solar (FSLR) EBITDA Margin (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, First Solar's EBITDA Margin was 49.49% through Sep 30, 2026, up 9.68 percentage points year-over-year; for FY2025, it came in at 40.73%, down 2.48 percentage points from FY2024.
- EBITDA Margin shows a five-year change of +20.43 percentage points (FY2020 to FY2025).
- In earlier years, EBITDA Margin was 43.22% in FY2024 (+8.11 pp), 35.11% in FY2023 (+25.86 pp), 9.26% in FY2022 (-19.70 pp) and 28.96% in FY2021 (+8.66 pp).
- Quarterly EBITDA Margin has moved between -0.15% (Q3 2022) and 56.64% (Q2 2026) over five years.
- Compared with a year earlier, EBITDA Margin has increased for four straight quarters, with an average year-over-year change of +2.78 percentage points over the last eight quarters.
- The best year-over-year quarter for EBITDA Margin over five years was Q3 2023 (a gain of 43.93 percentage points); the worst was Q1 2022 (a drop of 37.26 percentage points).
- Per Business Quant data, FSLR's EBITDA Margin in the three quarters before Q3 2026 was 56.64% (Q2 2026), 47.18% (Q1 2026) and 41.40% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn | 14.50% |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn | 19.62% |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn | 56.39% |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn | 20.06% |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 17.38% |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn | 19.08% |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn | 19.92% |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn | 19.49% |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn | 20.45% |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn | 9.17% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 56.39% |
| Jun 30, 2026 | 56.64% |
| Mar 31, 2026 | 47.18% |
| Dec 31, 2025 | 41.40% |
| Sep 30, 2025 | 37.52% |
| Jun 30, 2025 | 44.21% |
| Mar 31, 2025 | 40.98% |
| Dec 31, 2024 | 38.39% |
| Sep 30, 2024 | 48.80% |
| Jun 30, 2024 | 46.50% |
| Mar 31, 2024 | 42.03% |
| Dec 31, 2023 | 42.08% |
| Sep 30, 2023 | 43.78% |
| Jun 30, 2023 | 29.63% |
| Mar 31, 2023 | 15.84% |
| Dec 31, 2022 | 2.46% |
| Sep 30, 2022 | -0.15% |
| Jun 30, 2022 | 34.04% |
| Mar 31, 2022 | 2.02% |
| Dec 31, 2021 | 26.28% |
API Access
First Solar EBITDA Margin 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=ebitda-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();