First Solar (FSLR) FCF Margin (2009 - 2026)
First Solar (FSLR) reported FCF Margin of 31.93% for Q1 2026, up 6445.0% on a YoY basis from 0.49% in Q1 2025, and down 150.2% quarter-over-quarter from 63.6% in Q4 2025.
First Solar (FSLR) FCF Margin (2009 - 2026) Analysis & Trends
First Solar has reported FCF Margin for 18 years, with the latest figure at 31.93% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin rose 6445.0% year-over-year to 31.93%; the trailing twelve-month figure through Mar 2026 stood at 30.78% (up 5371.0% YoY), and the FY2025 full-year result was 22.75%, up 3007.0% from the prior year.
- FCF Margin for Q1 2026 stood at 31.93%, down from 63.6% in the prior quarter.
- The five-year high for FCF Margin was 67.06% in Q3 2025, with the low at 96.37% in Q1 2025.
- Historically, FCF Margin has averaged 11.46% across 5 years, with a median of 17.04% in 2024.
- Annual changes were most pronounced in 2023 — FCF Margin tumbled 13702 bps — and 2024, when it soared 13812 bps.
- First Solar's FCF Margin stood at 5.46% in 2022, then soared by 238 bps to 18.49% in 2023, then slumped by 261 bps to 29.76% in 2024, then surged by 314 bps to 63.6% in 2025, then sank by 150 bps to 31.93% in 2026.
- The last three FCF Margin figures came in at 31.93% (Q1 2026), 63.6% (Q4 2025), and 67.06% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | -31.93% |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 14.00% |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | 32.11% |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | -0.56% |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | 1.41% |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | -29.72% |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | -16.53% |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | - |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | -37.55% |
| 10 | Skycorp Solar | 110.38 Mn | 103.60 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -31.93% |
| Dec 31, 2025 | 63.60% |
| Sep 30, 2025 | 67.06% |
| Jun 30, 2025 | -12.63% |
| Mar 31, 2025 | -96.37% |
| Dec 31, 2024 | -29.76% |
| Sep 30, 2024 | 51.87% |
| Jun 30, 2024 | -17.04% |
| Mar 31, 2024 | -18.35% |
| Dec 31, 2023 | 18.49% |
| Sep 30, 2023 | -86.25% |
| Jun 30, 2023 | 12.06% |
| Mar 31, 2023 | -73.97% |
| Dec 31, 2022 | 5.46% |
| Sep 30, 2022 | 50.76% |
| Jun 30, 2022 | -17.82% |
| Mar 31, 2022 | -79.99% |
| Dec 31, 2021 | 2.57% |
| Sep 30, 2021 | 51.21% |
| Jun 30, 2021 | 35.52% |