First Solar (FSLR) Net Margin (2009 - 2026)
First Solar (FSLR) posted Net Margin of 46.39% for Q3 2026, up 17.80 percentage points from 28.59% a year earlier and up 6.38 percentage points from the prior quarter.
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Analysis
First Solar (FSLR) Net Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Net Margin at First Solar was 37.12%, up 9.39 percentage points year-over-year; for FY2025, it was 29.28%, down 1.44 percentage points from FY2024.
- Annual Net Margin shows a five-year change of +14.59 percentage points (FY2020 to FY2025).
- In prior years, First Solar's Net Margin was 30.72% in FY2024 (+5.68 pp), 25.03% in FY2023 (+26.72 pp), -1.69% in FY2022 (-17.72 pp) and 16.03% in FY2021 (+1.34 pp).
- The Q3 2026 figure stands as the highest quarterly Net Margin in data going back to Q1 2009.
- On a year-over-year basis, Net Margin has increased in each of the last four quarters, with an average year-over-year change of +2.60 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Net Margin in the past five years was Q3 2023, with a gain of 41.32 percentage points; the weakest was Q1 2022, with a drop of 37.88 percentage points.
- According to Business Quant data, Net Margin for the three prior quarters was 40.01% (Q2 2026), 33.19% (Q1 2026) and 30.95% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn | 10.21% |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn | 20.25% |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn | 46.39% |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn | 14.92% |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 10.67% |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn | 8.44% |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn | 9.50% |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn | 12.45% |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn | 2.66% |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn | 7.97% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 46.39% |
| Jun 30, 2026 | 40.01% |
| Mar 31, 2026 | 33.19% |
| Dec 31, 2025 | 30.95% |
| Sep 30, 2025 | 28.59% |
| Jun 30, 2025 | 31.16% |
| Mar 31, 2025 | 24.81% |
| Dec 31, 2024 | 25.96% |
| Sep 30, 2024 | 35.26% |
| Jun 30, 2024 | 34.57% |
| Mar 31, 2024 | 29.80% |
| Dec 31, 2023 | 30.14% |
| Sep 30, 2023 | 33.50% |
| Jun 30, 2023 | 21.04% |
| Mar 31, 2023 | 7.76% |
| Dec 31, 2022 | -0.75% |
| Sep 30, 2022 | -7.82% |
| Jun 30, 2022 | 8.99% |
| Mar 31, 2022 | -11.78% |
| Dec 31, 2021 | 14.48% |
API Access
First Solar Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "FSLR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();