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
Download Data| Date | Value |
|---|---|
| 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 |