First Solar (FSLR) Research & Development (2009 - 2026)
First Solar (FSLR) posted Research & Development of $67.22 million for Q3 2026, up 10.9% from $60.59 million a year earlier but down 11.8% from the prior quarter.
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Analysis
First Solar (FSLR) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Research & Development at First Solar was $276.36 million, up 29.2% year-over-year; for FY2025, it came in at $233.42 million, up 22.0% from FY2024.
- Annual Research & Development has increased for five consecutive years, with a five-year compound annual growth rate of 20.0% (FY2020 to FY2025).
- In prior years, First Solar's Research & Development was $191.38 million in FY2024 (+25.7%), $152.31 million in FY2023 (+35.0%), $112.8 million in FY2022 (+13.8%) and $99.12 million in FY2021 (+5.7%).
- Quarterly Research & Development has run from a low of $25.23 million in Q2 2022 to a high of $76.24 million in Q2 2026 over five years.
- On a year-over-year basis, Research & Development has increased in each of the last 22 quarters, with growth averaging 21.8% over the last eight quarters.
- Over the past five years, the year-over-year growth in Research & Development ranged from 4.7% (Q4 2022) to 45.6% (Q2 2023).
- According to Business Quant data, Research & Development for the three prior quarters was $76.24 million (Q2 2026), $66.94 million (Q1 2026) and $65.95 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn | 358.00 Mn |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn | 64.15 Mn |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn | 67.22 Mn |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn | 45.57 Mn |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 3.83 Mn |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn | 63.83 Mn |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn | 32.20 Mn |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn | - |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn | 10.30 Mn |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn | 45.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 67.22 Mn |
| Jun 30, 2026 | 76.24 Mn |
| Mar 31, 2026 | 66.94 Mn |
| Dec 31, 2025 | 65.95 Mn |
| Sep 30, 2025 | 60.59 Mn |
| Jun 30, 2025 | 54.49 Mn |
| Mar 31, 2025 | 52.39 Mn |
| Dec 31, 2024 | 46.50 Mn |
| Sep 30, 2024 | 50.20 Mn |
| Jun 30, 2024 | 51.94 Mn |
| Mar 31, 2024 | 42.74 Mn |
| Dec 31, 2023 | 43.86 Mn |
| Sep 30, 2023 | 41.19 Mn |
| Jun 30, 2023 | 36.75 Mn |
| Mar 31, 2023 | 30.51 Mn |
| Dec 31, 2022 | 31.28 Mn |
| Sep 30, 2022 | 29.18 Mn |
| Jun 30, 2022 | 25.23 Mn |
| Mar 31, 2022 | 27.11 Mn |
| Dec 31, 2021 | 29.88 Mn |
API Access
First Solar Research & Development 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=research-and-development&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();