First Solar (FSLR) Return on Capital Employed (2009 - 2026)
First Solar posted quarterly Return on Capital Employed of 15.46% for Q1 2026, up 139.0% year-on-year from 6.47% in Q1 2025, and up 7.85% on a QoQ basis from 14.34% in Q4 2025.
First Solar (FSLR) has 18 years of Return on Capital Employed data on file, last reported at 15.46% in Q1 2026.
- For the quarter ending Q1 2026, Return on Capital Employed rose 139.0% year-over-year to 15.46%; the trailing twelve-month figure through Mar 2026 stood at 15.46% (up 139.0% YoY), and the FY2025 full-year result was 15.25%, up 4.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 15.46%, up from 14.34% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 15.46% in Q1 2026 and bottomed at 0.4% in Q4 2022.
- The 5-year median for Return on Capital Employed is 12.29% (2024), against an average of 9.17%.
- The widest annual swing landed in 2022, when Return on Capital Employed sank 927 bps; it then jumped 1317 bps in 2024.
- A 5-year view of Return on Capital Employed shows it stood at 0.4% in 2022, then jumped by 2582 bps to 9.89% in 2023, then soared by 45 bps to 14.37% in 2024, then decreased by 0 bps to 14.34% in 2025, then advanced by 8 bps to 15.46% in 2026.
- The last three Return on Capital Employed figures came in at 15.46% (Q1 2026), 14.34% (Q4 2025), and 14.95% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 15.46% |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | 25.15% |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 2.48% |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 3.64% |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | -23.29% |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | -0.26% |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 7.88% |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | -4.58% |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | -0.08% |
| 10 | Tigo Energy | 288.14 Mn | 276.56 Mn | 10.79 Mn | 2.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 | 0.67% |
| Dec 31, 2022 | -0.40% |
| Sep 30, 2022 | 2.89% |
| Jun 30, 2022 | 4.71% |
| Mar 31, 2022 | 4.15% |
| Dec 31, 2021 | 8.87% |
| Sep 30, 2021 | 7.20% |
| Jun 30, 2021 | 9.63% |
| Mar 31, 2021 | 8.82% |
| Dec 31, 2020 | 5.12% |
| Sep 30, 2020 | 2.25% |
| Jun 30, 2020 | -0.38% |
| Mar 31, 2020 | -1.28% |
| Dec 31, 2019 | -2.71% |
| Sep 30, 2019 | -0.52% |
| Jun 30, 2019 | -0.25% |
| Mar 31, 2019 | -1.74% |
| Dec 31, 2018 | 0.64% |
| Sep 30, 2018 | -0.10% |
| Jun 30, 2018 | 2.33% |
| Mar 31, 2018 | 4.13% |
| Dec 31, 2017 | 2.82% |
| Sep 30, 2017 | -9.67% |
| Jun 30, 2017 | -12.09% |
| Mar 31, 2017 | -12.22% |
| Dec 31, 2016 | -8.68% |
| Sep 30, 2016 | 9.34% |
| Jun 30, 2016 | 13.96% |
| Mar 31, 2016 | 15.36% |
| Dec 31, 2015 | 11.72% |
| Sep 30, 2015 | 9.68% |
| Jun 30, 2015 | 4.64% |
| Mar 31, 2015 | 3.76% |
| Dec 31, 2014 | 7.42% |
| Sep 30, 2014 | 5.00% |
| Jun 30, 2014 | 7.79% |
| Mar 31, 2014 | 7.96% |
| Dec 31, 2013 | 7.01% |
| Sep 30, 2013 | 9.18% |
| Jun 30, 2013 | 8.03% |
| Mar 31, 2013 | 10.02% |
| Dec 31, 2012 | -0.74% |
| Sep 30, 2012 | -15.12% |
| Jun 30, 2012 | -12.41% |
| Mar 31, 2012 | -14.21% |
| Dec 31, 2011 | -1.43% |
| Sep 30, 2011 | 12.65% |
| Jun 30, 2011 | 13.95% |
| Mar 31, 2011 | 17.45% |
| Dec 31, 2010 | 19.60% |
| Sep 25, 2010 | 21.05% |
| Jun 26, 2010 | 21.04% |
| Mar 27, 2010 | 22.75% |
| Dec 26, 2009 | 24.04% |
| Sep 26, 2009 | 26.21% |