First Solar (FSLR) Invested Capital (2009 - 2026)
First Solar (FSLR) reported Invested Capital of $10.2 billion for Q1 2026, up 18.59% on a YoY basis from $8.6 billion in Q1 2025, and up 2.98% quarter-over-quarter from $9.9 billion in Q4 2025.
First Solar (FSLR) Invested Capital (2009 - 2026) Analysis & Trends
First Solar has reported Invested Capital for 18 years, with the latest figure at $10.2 billion in Q1 2026.
- For the quarter ending Q1 2026, Invested Capital rose 18.59% year-over-year to $10.2 billion; the trailing twelve-month figure through Mar 2026 stood at $10.2 billion (up 18.59% YoY), and the FY2025 full-year result was $9.9 billion, up 17.41% from the prior year.
- Invested Capital for Q1 2026 stood at $10.2 billion, up from $9.9 billion in the prior quarter.
- The five-year high for Invested Capital was $10.2 billion in Q1 2026, with the low at $5.8 billion in Q3 2022.
- Historically, Invested Capital has averaged $7.6 billion across 5 years, with a median of $7.4 billion in 2024.
- Annual changes were most pronounced in 2022 — Invested Capital declined 3.37% — and 2024, when it gained 25.99%.
- First Solar's Invested Capital stood at $6.0 billion in 2022, then climbed by 19.07% to $7.1 billion in 2023, then increased by 18.23% to $8.4 billion in 2024, then advanced by 17.41% to $9.9 billion in 2025, then increased by 2.98% to $10.2 billion in 2026.
- The last three Invested Capital figures came in at $10.2 billion (Q1 2026), $9.9 billion (Q4 2025), and $9.4 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | 10.21 Bn |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 2.33 Bn |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | 1.67 Bn |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | 410.72 Mn |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | 3.63 Bn |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | 601.65 Mn |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | 106.71 Mn |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | 26.33 Mn |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | 40.85 Mn |
| 10 | Skycorp Solar | 110.38 Mn | 103.60 Mn | - | 24.48 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 10.21 Bn |
| Dec 31, 2025 | 9.91 Bn |
| Sep 30, 2025 | 9.37 Bn |
| Jun 30, 2025 | 8.94 Bn |
| Mar 31, 2025 | 8.61 Bn |
| Dec 31, 2024 | 8.44 Bn |
| Sep 30, 2024 | 8.06 Bn |
| Jun 30, 2024 | 7.76 Bn |
| Mar 31, 2024 | 7.40 Bn |
| Dec 31, 2023 | 7.14 Bn |
| Sep 30, 2023 | 6.75 Bn |
| Jun 30, 2023 | 6.48 Bn |
| Mar 31, 2023 | 5.88 Bn |
| Dec 31, 2022 | 6.00 Bn |
| Sep 30, 2022 | 5.84 Bn |
| Jun 30, 2022 | 5.90 Bn |
| Mar 31, 2022 | 5.88 Bn |
| Dec 31, 2021 | 6.21 Bn |
| Sep 30, 2021 | 5.83 Bn |
| Jun 30, 2021 | 5.79 Bn |