First Solar (FSLR) Gross Margin (2009 - 2026)
First Solar posted quarterly Gross Margin of 46.55% for Q1 2026, up 577.0% year-on-year from 6.88% in Q1 2025, and up 17.74% on a QoQ basis from 39.54% in Q4 2025.
First Solar (FSLR) has 18 years of Gross Margin data on file, last reported at 46.55% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 577.0% year-over-year to 46.55%; the trailing twelve-month figure through Mar 2026 stood at 41.74% (down 186.0% YoY), and the FY2025 full-year result was 40.62%, down 354.0% from the prior year.
- Gross Margin for Q1 2026 stood at 46.55%, up from 39.54% in the prior quarter.
- Across five years, Gross Margin topped out at 50.17% in Q3 2024 and bottomed at 3.74% in Q2 2022.
- The 5-year median for Gross Margin is 39.54% (2025), against an average of 32.3%.
- The widest annual swing landed in 2022, when Gross Margin sank 3141 bps; it then soared 4362 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 6.05% in 2022, then soared by 617 bps to 43.33% in 2023, then dropped by 13 bps to 37.49% in 2024, then advanced by 5 bps to 39.54% in 2025, then advanced by 18 bps to 46.55% in 2026.
- The last three Gross Margin figures came in at 46.55% (Q1 2026), 39.54% (Q4 2025), and 38.29% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 46.55% |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | 33.77% |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 10.22% |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 35.49% |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | 21.99% |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | 75.28% |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 29.18% |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | 28.20% |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | 8.32% |
| 10 | Tigo Energy | 288.14 Mn | 276.56 Mn | 10.79 Mn | 42.84% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 46.55% |
| Dec 31, 2025 | 39.54% |
| Sep 30, 2025 | 38.29% |
| Jun 30, 2025 | 45.56% |
| Mar 31, 2025 | 40.78% |
| Dec 31, 2024 | 37.49% |
| Sep 30, 2024 | 50.17% |
| Jun 30, 2024 | 49.37% |
| Mar 31, 2024 | 43.57% |
| Dec 31, 2023 | 43.33% |
| Sep 30, 2023 | 46.96% |
| Jun 30, 2023 | 38.29% |
| Mar 31, 2023 | 20.44% |
| Dec 31, 2022 | 6.05% |
| Sep 30, 2022 | 3.34% |
| Jun 30, 2022 | -3.74% |
| Mar 31, 2022 | 3.12% |
| Dec 31, 2021 | 27.17% |
| Sep 30, 2021 | 21.35% |
| Jun 30, 2021 | 27.67% |
| Mar 31, 2021 | 23.00% |
| Dec 31, 2020 | 26.24% |
| Sep 30, 2020 | 31.59% |
| Jun 30, 2020 | 21.40% |
| Mar 31, 2020 | 16.98% |
| Dec 31, 2019 | 23.84% |
| Sep 30, 2019 | 25.30% |
| Jun 30, 2019 | 13.19% |
| Mar 31, 2019 | 0.02% |
| Dec 31, 2018 | 14.22% |
| Sep 30, 2018 | 19.10% |
| Jun 30, 2018 | -25.18% |
| Mar 31, 2018 | 30.46% |
| Dec 31, 2017 | 18.30% |
| Sep 30, 2017 | 26.84% |
| Jun 30, 2017 | 17.79% |
| Mar 31, 2017 | 9.44% |
| Dec 31, 2016 | 2.37% |
| Sep 30, 2016 | 25.09% |
| Jun 30, 2016 | 17.91% |
| Mar 31, 2016 | 31.69% |
| Dec 31, 2015 | 30.14% |
| Sep 30, 2015 | 38.10% |
| Jun 30, 2015 | 18.35% |
| Mar 31, 2015 | 8.31% |
| Dec 31, 2014 | 30.59% |
| Sep 30, 2014 | 21.27% |
| Jun 30, 2014 | 17.03% |
| Mar 31, 2014 | 24.91% |
| Dec 31, 2013 | 24.86% |
| Sep 30, 2013 | 28.76% |
| Jun 30, 2013 | 26.95% |
| Mar 31, 2013 | 22.42% |
| Dec 31, 2012 | 27.31% |
| Sep 30, 2012 | 28.45% |
| Jun 30, 2012 | 25.46% |
| Mar 31, 2012 | 15.44% |
| Dec 31, 2011 | -6.60% |
| Sep 30, 2011 | 37.70% |
| Jun 30, 2011 | 36.56% |
| Mar 31, 2011 | 45.77% |
| Dec 31, 2010 | 48.66% |
| Sep 25, 2010 | 40.34% |
| Jun 26, 2010 | 48.34% |
| Mar 27, 2010 | 49.66% |
| Dec 26, 2009 | 41.51% |
| Sep 26, 2009 | 50.95% |
| Jun 27, 2009 | 56.69% |
| Mar 28, 2009 | 56.26% |