First Solar (FSLR) FCF Margin (2009 - 2026)
First Solar (FSLR) posted FCF Margin of 31.93% for Q1 2026, down 129.74% on a QoQ basis from 107.34% in Q4 2025, and up 6445.0% year-over-year from 0.49% in Q1 2025.
First Solar (FSLR) FCF Margin (2009 - 2026) Analysis & Trends
First Solar's FCF Margin history runs 18 years deep, the most recent figure standing at 31.93% for Q1 2026.
- Quarterly FCF Margin rose 6445.0% year-over-year to 31.93% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 44.36% (up 3581.0% YoY) and the FY2025 annual result came in at 36.85%, up 1231.0% from the prior year.
- FCF Margin was 31.93% for Q1 2026 at First Solar, down from 107.34% in the prior quarter.
- Across five years, FCF Margin topped out at 116.66% in Q4 2023 and bottomed at 96.37% in Q1 2025.
- A 5-year average of 2.42% and a median of 9.47% in 2024 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2023 — FCF Margin surged 11119 bps — and 2025, when it sank 7802 bps.
- First Solar's FCF Margin stood at 5.46% in 2022, then soared by 2036 bps to 116.66% in 2023, then tumbled by 50 bps to 58.77% in 2024, then surged by 83 bps to 107.34% in 2025, then tumbled by 130 bps to 31.93% in 2026.
- Business Quant data shows FSLR's FCF Margin at 31.93% in Q1 2026, 107.34% in Q4 2025, and 51.27% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 22.08 Bn | 19.65 Bn | 486.13 Mn | -31.93% |
| 2 | Nextpower | 15.32 Bn | 14.23 Bn | 297.38 Mn | 14.00% |
| 3 | Enphase Energy | 4.98 Bn | 4.05 Bn | 100.39 Mn | 32.11% |
| 4 | JinkoSolar Holding | 3.20 Bn | -107.75 Mn | 147.66 Mn | - |
| 5 | Solaredge Technologies | 2.60 Bn | 2.04 Bn | 68.28 Mn | -0.56% |
| 6 | Sunrun | 2.35 Bn | 687.09 Mn | 407.49 Mn | 1.41% |
| 7 | Shoals Technologies | 1.55 Bn | 1.55 Bn | 41.01 Mn | -34.93% |
| 8 | Canadian Solar | 925.64 Mn | 166.07 Mn | 124.40 Mn | 16.54% |
| 9 | Array Technologies | 843.55 Mn | 642.85 Mn | 63.00 Mn | -16.53% |
| 10 | Toyo | 182.74 Mn | 106.10 Mn | 47.76 Mn | 26.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -31.93% |
| Dec 31, 2025 | 107.34% |
| Sep 30, 2025 | 51.27% |
| Jun 30, 2025 | 10.33% |
| Mar 31, 2025 | -96.37% |
| Dec 31, 2024 | 58.77% |
| Sep 30, 2024 | 9.47% |
| Jun 30, 2024 | 20.21% |
| Mar 31, 2024 | -18.35% |
| Dec 31, 2023 | 116.66% |
| Sep 30, 2023 | -15.08% |
| Jun 30, 2023 | -63.22% |
| Mar 31, 2023 | -66.65% |
| Dec 31, 2022 | 5.46% |
| Sep 30, 2022 | 23.00% |
| Jun 30, 2022 | 10.30% |
| Mar 31, 2022 | -79.99% |
| Dec 31, 2021 | -17.68% |
| Sep 30, 2021 | 0.65% |
| Jun 30, 2021 | 35.52% |