First Solar (FSLR) Invested Capital (2009 - 2026)
First Solar's (FSLR) quarterly Invested Capital came in at $37.6 million in Q2 2026, down 84.94% YoY from $249.9 million in Q2 2025, and down 80.04% on a QoQ basis from $188.6 million in Q1 2026.
First Solar (FSLR) Invested Capital (2009 - 2026) Analysis & Trends
First Solar (FSLR) has 15 years of Invested Capital data on file, last reported at $37.6 million in Q2 2026.
- Quarterly Invested Capital fell 84.94% year-over-year to $37.6 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $714.6 million (down 19.87% YoY) and the FY2025 annual result came in at $216.0 million, down 8.65% from the prior year.
- Invested Capital declined to $37.6 million in Q2 2026, from $188.6 million in the prior quarter.
- In the past five years, Invested Capital ranged from a high of $272.4 million in Q3 2025 to a low of $7.5 million in Q2 2023.
- A 4-year average of $160.5 million and a median of $197.2 million in 2025 frame the typical range for Invested Capital.
- Annual changes were most pronounced in 2024 — Invested Capital surged 1769.0% — and 2026, when it plunged 84.94%.
- Tracing FSLR's Invested Capital over 4 years: stood at $96.2 million in 2023, then surged by 145.67% to $236.4 million in 2024, then declined by 8.65% to $216.0 million in 2025, then plunged by 82.57% to $37.6 million in 2026.
- The last three Invested Capital figures came in at $37.6 million (Q2 2026), $188.6 million (Q1 2026), and $216.0 million (Q4 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 37.64 Mn |
| 2 | Nextpower | 13.03 Bn | 11.82 Bn | 335.85 Mn | - |
| 3 | Enphase Energy | 5.10 Bn | 4.16 Bn | 175.01 Mn | - |
| 4 | Sunrun | 2.19 Bn | 2.19 Bn | 527.54 Mn | 513.40 Mn |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | - |
| 6 | Shoals Technologies | 1.19 Bn | 1.18 Bn | 49.53 Mn | - |
| 7 | Canadian Solar | 985.60 Mn | -602.69 Mn | 124.40 Mn | 2.39 Bn |
| 8 | JinkoSolar Holding | 833.21 Mn | -2.48 Bn | 147.66 Mn | - |
| 9 | Array Technologies | 727.02 Mn | 419.71 Mn | 99.60 Mn | 10.98 Mn |
| 10 | Toyo | 181.99 Mn | 105.35 Mn | 47.76 Mn | 2.64 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 37.64 Mn |
| Mar 31, 2026 | 188.59 Mn |
| Dec 31, 2025 | 215.98 Mn |
| Sep 30, 2025 | 272.40 Mn |
| Jun 30, 2025 | 249.89 Mn |
| Mar 31, 2025 | 197.20 Mn |
| Dec 31, 2024 | 236.42 Mn |
| Sep 30, 2024 | 208.26 Mn |
| Jun 30, 2024 | 140.18 Mn |
| Mar 31, 2024 | 200.91 Mn |
| Dec 31, 2023 | 96.24 Mn |
| Sep 30, 2023 | 35.41 Mn |
| Jun 30, 2023 | 7.50 Mn |
| Dec 31, 2019 | 17.51 Mn |
| Dec 31, 2018 | 5.57 Mn |
| Sep 30, 2018 | 2.62 Mn |
| Jun 30, 2018 | 7.74 Mn |
| Mar 31, 2018 | 6.06 Mn |
| Dec 31, 2017 | 13.08 Mn |
| Sep 30, 2017 | 13.45 Mn |