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| Date | Value |
|---|---|
| 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% |