FTC Solar (FTCI) Operating Margin (2020 - 2026)
FTC Solar (FTCI) reported Operating Margin of 69.84% for Q1 2026, down 1908.0% on a YoY basis from 3.86% in Q1 2025, and down 259.18% quarter-over-quarter from 43.88% in Q4 2025.
FTC Solar (FTCI) Operating Margin (2020 - 2026) Analysis & Trends
FTC Solar has reported Operating Margin for 7 years, with the latest figure at 69.84% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 1908.0% year-over-year to 69.84%; the trailing twelve-month figure through Mar 2026 stood at 19.4% (down 461.0% YoY), and the FY2025 full-year result was 16.65%, up 480.0% from the prior year.
- Operating Margin for Q1 2026 stood at 69.84%, down from 43.88% in the prior quarter.
- The five-year high for Operating Margin was 221.5% in Q4 2024, with the low at 161.08% in Q3 2022.
- Historically, Operating Margin has averaged 38.94% across 5 years, with a median of 56.06% in 2022.
- Annual changes were most pronounced in 2023 — Operating Margin jumped 19819 bps — and 2025, when it sank 17763 bps.
- FTC Solar's Operating Margin stood at 75.75% in 2022, then soared by 262 bps to 122.45% in 2023, then surged by 81 bps to 221.5% in 2024, then plunged by 80 bps to 43.88% in 2025, then slumped by 259 bps to 69.84% in 2026.
- The last three Operating Margin figures came in at 69.84% (Q1 2026), 43.88% (Q4 2025), and 29.6% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | 33.07% |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 17.44% |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | -10.48% |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | -17.73% |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | -6.02% |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | 5.49% |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | 3.18% |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | -4.80% |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | -9.56% |
| 10 | FTC Solar | 68.50 Mn | 62.86 Mn | -1.23 Mn | -69.84% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -69.84% |
| Dec 31, 2025 | 43.88% |
| Sep 30, 2025 | -29.60% |
| Jun 30, 2025 | -57.52% |
| Mar 31, 2025 | -50.76% |
| Dec 31, 2024 | 221.50% |
| Sep 30, 2024 | -147.75% |
| Jun 30, 2024 | -104.32% |
| Mar 31, 2024 | -99.32% |
| Dec 31, 2023 | 122.45% |
| Sep 30, 2023 | -53.28% |
| Jun 30, 2023 | -32.04% |
| Mar 31, 2023 | -30.31% |
| Dec 31, 2022 | -75.75% |
| Sep 30, 2022 | -161.08% |
| Jun 30, 2022 | -82.16% |
| Mar 31, 2022 | -56.06% |
| Dec 31, 2021 | -23.14% |
| Sep 30, 2021 | -42.97% |
| Jun 30, 2021 | -144.63% |