First Solar (FSLR) Operating Margin (2009 - 2026)
First Solar's (FSLR) quarterly Operating Margin came in at 42.64% in Q2 2026, up 968.0% YoY from 3.99% in Q2 2025, and up 28.96% on a QoQ basis from 33.07% in Q1 2026.
First Solar (FSLR) Operating Margin (2009 - 2026) Analysis & Trends
First Solar (FSLR) has 18 years of Operating Margin data on file, last reported at 42.64% in Q2 2026.
- Quarterly Operating Margin rose 968.0% year-over-year to 42.64% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 33.65% (up 230.0% YoY) and the FY2025 annual result came in at 30.59%, down 256.0% from the prior year.
- Operating Margin improved to 42.64% in Q2 2026, from 33.07% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 42.64% in Q2 2026 to a low of 15.75% in Q1 2022.
- A 5-year average of 23.07% and a median of 30.39% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin slumped 4716 bps — and 2023, when it jumped 4494 bps.
- Tracing FSLR's Operating Margin over 5 years: stood at 4.58% in 2022, then jumped by 850 bps to 34.33% in 2023, then fell by 12 bps to 30.17% in 2024, then climbed by 8 bps to 32.56% in 2025, then jumped by 31 bps to 42.64% in 2026.
- The last three Operating Margin figures came in at 42.64% (Q2 2026), 33.07% (Q1 2026), and 32.56% (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.79 Bn | 22.07 Bn | 605.00 Mn | 42.64% |
| 2 | Nextpower | 13.42 Bn | 12.21 Bn | 335.85 Mn | 20.41% |
| 3 | Enphase Energy | 5.24 Bn | 4.30 Bn | 175.01 Mn | 17.65% |
| 4 | Sunrun | 2.25 Bn | 2.25 Bn | 527.54 Mn | 4.00% |
| 5 | Solaredge Technologies | 1.94 Bn | 1.36 Bn | 95.15 Mn | -4.63% |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 11.46% |
| 7 | Canadian Solar | 1.02 Bn | -571.70 Mn | 124.40 Mn | -5.26% |
| 8 | JinkoSolar Holding | 856.51 Mn | -2.45 Bn | 147.66 Mn | -4.80% |
| 9 | Array Technologies | 734.71 Mn | 427.41 Mn | 99.60 Mn | 10.16% |
| 10 | Toyo | 180.11 Mn | 103.46 Mn | 47.76 Mn | 25.40% |
Historic Data
Download 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% |