First Solar (FSLR) Operating Margin (2009 - 2026)
First Solar's Operating Margin was 42.64% in Q2 2026, up 9.68 percentage points from 32.96% a year earlier and up 9.57 percentage points from the prior quarter.
Powered by 
Analysis
First Solar (FSLR) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, First Solar's Operating Margin was 33.65% through Jun 30, 2026, up 2.30 percentage points year-over-year; for FY2025, it was 30.59%, down 2.56 percentage points from FY2024.
- Operating Margin shows a five-year change of +18.89 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 33.15% in FY2024 (+7.32 pp), 25.83% in FY2023 (+26.87 pp), -1.04% in FY2022 (-21.11 pp) and 20.07% in FY2021 (+8.36 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin in data going back to Q1 2009.
- Compared with a year earlier, Operating Margin has increased for three straight quarters, with an average year-over-year change of +0.20 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q3 2023 (a gain of 44.94 percentage points); the worst was Q1 2022 (a drop of 47.16 percentage points).
- Per Business Quant data, FSLR's Operating Margin in the three quarters before Q2 2026 was 33.07% (Q1 2026), 32.56% (Q4 2025) and 29.22% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 5.88% |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 17.11% |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 42.64% |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 12.66% |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 17.93% |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | 20.41% |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 16.18% |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 17.65% |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 6.71% |
| 10 | Nuscale Power | 3.24 Bn | 3.19 Bn | -152,000.00 | -85,337.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 42.64% |
| Mar 31, 2026 | 33.07% |
| Dec 31, 2025 | 32.56% |
| Sep 30, 2025 | 29.22% |
| Jun 30, 2025 | 32.96% |
| Mar 31, 2025 | 26.20% |
| Dec 31, 2024 | 30.17% |
| Sep 30, 2024 | 36.27% |
| Jun 30, 2024 | 36.86% |
| Mar 31, 2024 | 30.62% |
| Dec 31, 2023 | 34.33% |
| Sep 30, 2023 | 34.07% |
| Jun 30, 2023 | 20.79% |
| Mar 31, 2023 | 3.28% |
| Dec 31, 2022 | -4.58% |
| Sep 30, 2022 | -10.87% |
| Jun 30, 2022 | 23.32% |
| Mar 31, 2022 | -15.75% |
| Dec 31, 2021 | 19.08% |
| Sep 30, 2021 | 8.72% |
API Access
First Solar Operating 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=operating-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();