First Solar (FSLR) Return on Equity [ROE] (2009 - 2026)
First Solar's Return on Equity [ROE] came in at 17.56% for Q3 2026, up 1.61 percentage points from 15.95% a year earlier and up 0.27 percentage points from the prior quarter.
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Analysis
First Solar (FSLR) Return on Equity [ROE] (2009 - 2026) Analysis & Trends
For FY2025, First Solar's Return on Equity [ROE] was 17.45%, down 0.17 percentage points from FY2024.
- Return on Equity [ROE] carries a five-year change of +9.91 percentage points (FY2020 to FY2025).
- Going back by year, Return on Equity [ROE] was 17.62% in FY2024 (+4.35 pp), 13.27% in FY2023 (+14.02 pp), -0.75% in FY2022 (-8.91 pp) and 8.17% in FY2021 (+0.62 pp).
- The Q3 2026 figure represents the highest quarterly Return on Equity [ROE] since Q4 2010.
- Year-over-year, Return on Equity [ROE] has increased for three consecutive quarters, with an average year-over-year change of +0.85 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Equity [ROE] over five years came in Q2 2024 (a gain of 14.38 percentage points), and the weakest in Q4 2022 (a drop of 8.71 percentage points).
- Business Quant data shows FSLR's Return on Equity [ROE] at 17.29% (Q2 2026), 17.15% (Q1 2026) and 16.47% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 210.90 Bn | 163.15 Bn | 3.11 Bn | 80.75% |
| 2 | Bloom Energy | 54.82 Bn | 44.75 Bn | 417.10 Mn | 29.02% |
| 3 | First Solar | 19.45 Bn | 10.82 Bn | 713.06 Mn | 17.56% |
| 4 | Nextpower | 15.04 Bn | 10.75 Bn | 345.32 Mn | 23.55% |
| 5 | BWX Technologies | 11.61 Bn | 9.39 Bn | 227.14 Mn | 27.32% |
| 6 | Generac Holdings | 10.72 Bn | 9.45 Bn | 516.04 Mn | 10.25% |
| 7 | Innio | 10.33 Bn | 6.57 Bn | 367.70 Mn | 31.20% |
| 8 | EnerSys | 5.50 Bn | 3.69 Bn | 313.36 Mn | 18.16% |
| 9 | Mirion Technologies | 4.67 Bn | 3.08 Bn | 131.50 Mn | 1.63% |
| 10 | X-Energy | 4.46 Bn | 3.10 Bn | -32.06 Mn | -104.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 17.56% |
| Jun 30, 2026 | 17.29% |
| Mar 31, 2026 | 17.15% |
| Dec 31, 2025 | 16.47% |
| Sep 30, 2025 | 15.95% |
| Jun 30, 2025 | 15.03% |
| Mar 31, 2025 | 15.65% |
| Dec 31, 2024 | 16.60% |
| Sep 30, 2024 | 16.81% |
| Jun 30, 2024 | 17.00% |
| Mar 31, 2024 | 15.08% |
| Dec 31, 2023 | 12.79% |
| Sep 30, 2023 | 7.68% |
| Jun 30, 2023 | 2.63% |
| Mar 31, 2023 | 0.71% |
| Dec 31, 2022 | -0.76% |
| Sep 30, 2022 | 1.62% |
| Jun 30, 2022 | 3.21% |
| Mar 31, 2022 | 3.65% |
| Dec 31, 2021 | 7.95% |
API Access
First Solar Return on Equity [ROE] 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-equity-%5Broe%5D&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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-equity-%5Broe%5D&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();