Growth Metrics

First Solar (FSLR) Equity Ratio (2009 - 2026)

First Solar posted quarterly Equity Ratio of 0.74 for Q1 2026, up 9.5% year-on-year from 0.68 in Q1 2025, and up 3.34% on a QoQ basis from 0.72 in Q4 2025.

First Solar (FSLR) has 18 years of Equity Ratio data on file, last reported at 0.74 in Q1 2026.

  • For the quarter ending Q1 2026, Equity Ratio rose 9.5% year-over-year to 0.74; the trailing twelve-month figure through Mar 2026 stood at 0.74 (up 9.5% YoY), and the FY2025 full-year result was 0.72, up 8.82% from the prior year.
  • Equity Ratio for Q1 2026 stood at 0.74, up from 0.72 in the prior quarter.
  • Across five years, Equity Ratio topped out at 0.79 in Q2 2022 and bottomed at 0.64 in Q1 2024.
  • The 5-year median for Equity Ratio is 0.67 (2023), against an average of 0.7.
  • The widest annual swing landed in 2023, when Equity Ratio slipped 15.53%; it then advanced 9.5% in 2026.
  • A 5-year view of Equity Ratio shows it stood at 0.71 in 2022, then decreased by 8.78% to 0.65 in 2023, then advanced by 1.98% to 0.66 in 2024, then advanced by 8.82% to 0.72 in 2025, then increased by 3.34% to 0.74 in 2026.
  • The last three Equity Ratio figures came in at 0.74 (Q1 2026), 0.72 (Q4 2025), and 0.67 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Ratio (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn 0.74
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn 0.57
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn 0.26
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn 0.40
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn 0.18
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn 0.15
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 0.58
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn -0.15
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn 0.22
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn 0.55

Historic Data

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DateValue
Mar 31, 2026 0.74
Dec 31, 2025 0.72
Sep 30, 2025 0.67
Jun 30, 2025 0.66
Mar 31, 2025 0.68
Dec 31, 2024 0.66
Sep 30, 2024 0.66
Jun 30, 2024 0.66
Mar 31, 2024 0.64
Dec 31, 2023 0.65
Sep 30, 2023 0.66
Jun 30, 2023 0.67
Mar 31, 2023 0.69
Dec 31, 2022 0.71
Sep 30, 2022 0.78
Jun 30, 2022 0.79
Mar 31, 2022 0.79
Dec 31, 2021 0.80
Sep 30, 2021 0.80
Jun 30, 2021 0.80
Mar 31, 2021 0.80
Dec 31, 2020 0.78
Sep 30, 2020 0.77
Jun 30, 2020 0.74
Mar 31, 2020 0.74
Dec 31, 2019 0.68
Sep 30, 2019 0.73
Jun 30, 2019 0.72
Mar 31, 2019 0.71
Dec 31, 2018 0.73
Sep 30, 2018 0.73
Jun 30, 2018 0.73
Mar 31, 2018 0.75
Dec 31, 2017 0.74
Sep 30, 2017 0.78
Jun 30, 2017 0.79
Mar 31, 2017 0.79
Dec 31, 2016 0.76
Sep 30, 2016 0.74
Jun 30, 2016 0.77
Mar 31, 2016 0.76
Dec 31, 2015 0.77
Sep 30, 2015 0.76
Jun 30, 2015 0.74
Mar 31, 2015 0.75
Dec 31, 2014 0.74
Sep 30, 2014 0.71
Jun 30, 2014 0.71
Mar 31, 2014 0.73
Dec 31, 2013 0.65
Sep 30, 2013 0.64
Jun 30, 2013 0.61
Mar 31, 2013 0.58
Dec 31, 2012 0.56
Sep 30, 2012 0.58
Jun 30, 2012 0.61
Mar 31, 2012 0.56
Dec 31, 2011 0.63
Sep 30, 2011 0.70
Jun 30, 2011 0.75
Mar 31, 2011 0.80
Dec 31, 2010 0.79
Sep 25, 2010 0.79
Jun 26, 2010 0.83
Mar 27, 2010 0.82
Dec 26, 2009 0.79
Sep 26, 2009 0.79
Jun 27, 2009 0.79