First Solar (FSLR) EBITDA Margin (2009 - 2026)
First Solar (FSLR) reported EBITDA Margin of 33.07% for Q1 2026, up 687.0% on a YoY basis from 4.2% in Q1 2025, and up 1.56% quarter-over-quarter from 32.56% in Q4 2025.
First Solar (FSLR) EBITDA Margin (2009 - 2026) Analysis & Trends
First Solar has reported EBITDA Margin for 18 years, with the latest figure at 33.07% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 687.0% year-over-year to 33.07%; the trailing twelve-month figure through Mar 2026 stood at 31.76% (down 49.0% YoY), and the FY2025 full-year result was 30.59%, down 256.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 33.07%, up from 32.56% in the prior quarter.
- The five-year high for EBITDA Margin was 36.86% in Q2 2024, with the low at 15.75% in Q1 2022.
- Historically, EBITDA Margin has averaged 21.91% across 5 years, with a median of 30.17% in 2024.
- Annual changes were most pronounced in 2022 — EBITDA Margin slumped 4716 bps — and 2023, when it jumped 4494 bps.
- First Solar's EBITDA Margin stood at 4.58% in 2022, then jumped by 850 bps to 34.33% in 2023, then fell by 12 bps to 30.17% in 2024, then climbed by 8 bps to 32.56% in 2025, then increased by 2 bps to 33.07% in 2026.
- The last three EBITDA Margin figures came in at 33.07% (Q1 2026), 32.56% (Q4 2025), and 29.22% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | 33.07% |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 17.44% |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | -10.48% |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | -17.73% |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | -6.02% |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | 7.06% |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | 4.26% |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | -4.78% |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | -9.56% |
| 10 | Skycorp Solar | 110.38 Mn | 103.60 Mn | - | - |
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% |