First Solar FSLR
NASDAQ FSLR
$214.28 +0.22 (+0.10%)
At close: Aug 21, 2026 · 4:00 PM EDT

First Solar (FSLR) Return on Capital Employed (2009 - 2026)

First Solar's (FSLR) quarterly Return on Capital Employed came in at 16.07% in Q2 2026, up 194.0% YoY from 5.47% in Q2 2025, and up 3.94% on a QoQ basis from 15.46% in Q1 2026.

First Solar (FSLR) Return on Capital Employed (2009 - 2026) Analysis & Trends

First Solar (FSLR) has 18 years of Return on Capital Employed data on file, last reported at 16.07% in Q2 2026.

  • Quarterly Return on Capital Employed rose 194.0% year-over-year to 16.07% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 16.07% (up 194.0% YoY) and the FY2025 annual result came in at 15.25%, up 4.0% from the prior year.
  • Return on Capital Employed grew to 16.07% in Q2 2026, from 15.46% in the prior quarter.
  • In the past five years, Return on Capital Employed ranged from a high of 16.07% in Q2 2026 to a low of 0.4% in Q4 2022.
  • A 5-year average of 9.55% and a median of 13.19% in 2024 frame the typical range for Return on Capital Employed.
  • Annual changes were most pronounced in 2022 — Return on Capital Employed tumbled 927 bps — and 2024, when it jumped 1317 bps.
  • Tracing FSLR's Return on Capital Employed over 5 years: stood at 0.4% in 2022, then soared by 2582 bps to 9.89% in 2023, then surged by 45 bps to 14.37% in 2024, then retreated by 0 bps to 14.34% in 2025, then grew by 12 bps to 16.07% in 2026.
  • The last three Return on Capital Employed figures came in at 16.07% (Q2 2026), 15.46% (Q1 2026), and 14.34% (Q4 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 First Solar 23.03 Bn 21.30 Bn 605.00 Mn 16.07%
2 Nextpower 13.03 Bn 11.82 Bn 335.85 Mn 23.08%
3 Enphase Energy 5.10 Bn 4.16 Bn 175.01 Mn 4.90%
4 Sunrun 2.19 Bn 2.19 Bn 527.54 Mn 0.43%
5 Solaredge Technologies 1.89 Bn 1.31 Bn 95.15 Mn -16.28%
6 Shoals Technologies 1.19 Bn 1.18 Bn 49.53 Mn 7.27%
7 Canadian Solar 985.60 Mn -602.69 Mn 124.40 Mn 2.48%
8 JinkoSolar Holding 833.21 Mn -2.48 Bn 147.66 Mn -10.77%
9 Array Technologies 727.02 Mn 419.71 Mn 99.60 Mn -5.53%
10 Toyo 181.99 Mn 105.35 Mn 47.76 Mn 29.50%

Historic Data

Download Data
DateValue
Jun 30, 2026 16.07%
Mar 31, 2026 15.46%
Dec 31, 2025 14.34%
Sep 30, 2025 14.95%
Jun 30, 2025 14.13%
Mar 31, 2025 14.08%
Dec 31, 2024 14.37%
Sep 30, 2024 14.14%
Jun 30, 2024 14.11%
Mar 31, 2024 12.29%
Dec 31, 2023 9.89%
Sep 30, 2023 5.11%
Jun 30, 2023 0.94%
Mar 31, 2023 0.58%
Dec 31, 2022 -0.40%
Sep 30, 2022 2.89%
Jun 30, 2022 4.71%
Mar 31, 2022 3.74%
Dec 31, 2021 8.00%
Sep 30, 2021 6.50%