First Solar (FSLR) Return on Assets [ROA] (2009 - 2026)
First Solar's Return on Assets [ROA] came in at 13.58% for Q3 2026, up 2.94 percentage points from 10.64% a year earlier and up 0.52 percentage points from the prior quarter.
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Analysis
First Solar (FSLR) Return on Assets [ROA] (2009 - 2026) Analysis & Trends
For FY2025, First Solar's Return on Assets [ROA] was 12.01%, up 0.52 percentage points from FY2024.
- Return on Assets [ROA] has increased in each of the last three years, with a five-year change of +6.53 percentage points (FY2020 to FY2025).
- Going back by year, Return on Assets [ROA] was 11.49% in FY2024 (+2.56 pp), 8.93% in FY2023 (+9.49 pp), -0.56% in FY2022 (-7.02 pp) and 6.45% in FY2021 (+0.98 pp).
- The Q3 2026 figure represents the highest quarterly Return on Assets [ROA] since Q1 2011.
- Year-over-year, Return on Assets [ROA] has increased for four consecutive quarters, with an average year-over-year change of +1.29 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Assets [ROA] over five years came in Q2 2024 (a gain of 9.27 percentage points), and the weakest in Q4 2022 (a drop of 6.95 percentage points).
- Business Quant data shows FSLR's Return on Assets [ROA] at 13.06% (Q2 2026), 12.49% (Q1 2026) and 11.41% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROA (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 12.40% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 8.57% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 13.58% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 13.76% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 8.19% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 5.07% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 1.49% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 9.76% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 0.86% |
| 10 | Enphase Energy | 3.45 Bn | -863.96 Mn | 127.12 Mn | 3.13% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.58% |
| Jun 30, 2026 | 13.06% |
| Mar 31, 2026 | 12.49% |
| Dec 31, 2025 | 11.41% |
| Sep 30, 2025 | 10.64% |
| Jun 30, 2025 | 10.07% |
| Mar 31, 2025 | 10.44% |
| Dec 31, 2024 | 10.97% |
| Sep 30, 2024 | 11.12% |
| Jun 30, 2024 | 11.06% |
| Mar 31, 2024 | 9.70% |
| Dec 31, 2023 | 8.33% |
| Sep 30, 2023 | 5.10% |
| Jun 30, 2023 | 1.78% |
| Mar 31, 2023 | 0.50% |
| Dec 31, 2022 | -0.56% |
| Sep 30, 2022 | 1.27% |
| Jun 30, 2022 | 2.55% |
| Mar 31, 2022 | 2.91% |
| Dec 31, 2021 | 6.38% |
API Access
First Solar Return on Assets [ROA] 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=return-on-assets-%5Broa%5D&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-assets-[roa]", "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=return-on-assets-%5Broa%5D&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();