First Solar (FSLR) FCF Margin (2009 - 2026)
First Solar's FCF Margin came in at -16.07% for Q3 2026, down 83.13 percentage points from 67.06% a year earlier but up 12.93 percentage points from the prior quarter.
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Analysis
First Solar (FSLR) FCF Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, First Solar reported FCF Margin of 4.64%, down 7.52 percentage points year-over-year; for FY2025, it was 22.75%, up 30.07 percentage points from FY2024.
- FCF Margin carries a five-year change of +36.74 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was -7.32% in FY2024 (+16.32 pp), -23.64% in FY2023 (-22.49 pp), -1.15% in FY2022 (+9.20 pp) and -10.36% in FY2021 (+3.64 pp).
- The five-year range for quarterly FCF Margin is -96.37% (Q1 2025) to 67.06% (Q3 2025).
- Year-over-year, FCF Margin increased in five of the last eight quarters, with an average year-over-year change of +7.31 percentage points.
- The fastest year-over-year change in FCF Margin over five years came in Q3 2025 (a gain of 122.00 percentage points), and the weakest in Q3 2026 (a drop of 83.13 percentage points).
- Business Quant data shows FSLR's FCF Margin at -28.99% (Q2 2026), -31.93% (Q1 2026) and 63.60% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 220.58 Bn | 171.68 Bn | 3.11 Bn | 42.79% |
| 2 | Bloom Energy | 56.91 Bn | 46.81 Bn | 417.10 Mn | -14.62% |
| 3 | First Solar | 20.56 Bn | 11.92 Bn | 713.06 Mn | -16.07% |
| 4 | Nextpower | 15.90 Bn | 11.61 Bn | 345.32 Mn | 12.17% |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 15.79% |
| 6 | Generac Holdings | 11.11 Bn | 9.84 Bn | 516.04 Mn | 10.17% |
| 7 | EnerSys | 5.54 Bn | 3.73 Bn | 313.36 Mn | 23.27% |
| 8 | Mirion Technologies | 4.72 Bn | 3.08 Bn | 131.50 Mn | 17.03% |
| 9 | Enphase Energy | 3.84 Bn | -474.64 Mn | 127.12 Mn | -3.88% |
| 10 | QuantumScape | 2.84 Bn | -715.25 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -16.07% |
| Jun 30, 2026 | -28.99% |
| 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 | 32.86% |
| Sep 30, 2024 | -54.94% |
| Jun 30, 2024 | -17.04% |
| Mar 31, 2024 | -18.35% |
| Dec 31, 2023 | 18.49% |
| Sep 30, 2023 | -15.08% |
| Jun 30, 2023 | -58.27% |
| Mar 31, 2023 | -73.97% |
| Dec 31, 2022 | 46.72% |
| Sep 30, 2022 | -14.99% |
| Jun 30, 2022 | -17.82% |
| Mar 31, 2022 | -79.99% |
| Dec 31, 2021 | -17.68% |
API Access
First Solar FCF 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=fcf-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();