First Solar (FSLR) EBITDA Margin (2014 - 2026)
First Solar's EBITDA Margin was 56.64% in Q2 2026, up 12.43 percentage points from 44.21% a year earlier and up 9.46 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 44.36% through Jun 30, 2026, up 1.88 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).
- The Q2 2026 figure marks the highest quarterly EBITDA Margin in data going back to Q1 2014.
- Compared with a year earlier, EBITDA Margin has increased for three straight quarters, with an average year-over-year change of +1.05 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 Q2 2026 was 47.18% (Q1 2026), 40.92% (Q4 2025) and 38.02% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.94 Bn | 214.01 Bn | 2.36 Bn | 9.65% |
| 2 | Bloom Energy | 77.11 Bn | 68.94 Bn | 355.57 Mn | 18.40% |
| 3 | First Solar | 18.59 Bn | 9.54 Bn | 605.00 Mn | 56.64% |
| 4 | BWX Technologies | 12.31 Bn | 10.61 Bn | 202.31 Mn | 16.14% |
| 5 | Generac Holdings | 12.11 Bn | 10.94 Bn | 521.81 Mn | 25.54% |
| 6 | Nextpower | 12.00 Bn | 7.89 Bn | 335.85 Mn | 21.35% |
| 7 | EnerSys | 6.46 Bn | 4.66 Bn | 313.36 Mn | 19.44% |
| 8 | Enphase Energy | 4.08 Bn | -774.96 Mn | 175.01 Mn | 24.57% |
| 9 | Mirion Technologies | 3.51 Bn | 1.40 Bn | 133.10 Mn | 21.25% |
| 10 | Nuscale Power | 3.25 Bn | 3.20 Bn | -152,000.00 | -84,892.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 56.64% |
| Mar 31, 2026 | 47.18% |
| Dec 31, 2025 | 40.92% |
| Sep 30, 2025 | 38.02% |
| 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% |
| Sep 30, 2021 | 19.98% |
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();