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
DateValue
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%