First Solar Financial Ratios
NASDAQ: FSLRTechnologySemiconductorsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
First Solar ratio analysis
First Solar earned a net margin of 29.3% in FY 2025, down from 30.7% a year earlier. Gross margin was 40.6% compared with a median of 22.0% over the prior 9 years. Return on equity reached 16.0%, meaning First Solar generated 0.16 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 0.05 versus 0.08 the year before, and the current ratio was 2.67. At the end of FY 2025, FSLR traded at 19.3 times earnings; across the 6 fiscal years shown, its year-end P/E ranged from 15.5 to 34.1, with a median of 21.1. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
First Solar financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 19.31 | 15.51 | 22.26 | — | 19.90 | 26.52 | — | 34.06 | — | — |
| Price / sales | 5.64 | 4.74 | 5.54 | 6.09 | 3.17 | 3.86 | 1.96 | 2.16 | 2.39 | 1.14 |
| Price / book | 3.08 | 2.50 | 2.75 | 2.73 | 1.55 | 1.90 | 1.18 | 0.93 | 1.38 | 0.63 |
| Gross margin | 40.6% | 44.2% | 39.2% | 2.7% | 25.0% | 25.1% | 17.9% | 17.5% | 18.7% | 22.0% |
| Operating margin | 30.6% | 33.2% | 25.8% | -1.0% | 20.1% | 11.7% | -5.3% | 1.8% | 6.0% | -19.6% |
| Net margin | 29.3% | 30.7% | 25.0% | -1.7% | 16.0% | 14.7% | -3.8% | 6.4% | -5.6% | -14.3% |
| Free cash flow margin | 22.7% | -7.3% | -23.6% | -1.2% | -10.4% | -14.0% | -16.1% | -47.5% | 28.1% | -0.8% |
| Return on equity (ROE) | 16.0% | 16.2% | 12.4% | -0.8% | 7.9% | 7.2% | -2.3% | 2.8% | -3.2% | -8.0% |
| Return on assets (ROA) | 11.5% | 10.7% | 8.0% | -0.5% | 6.3% | 5.6% | -1.5% | 2.0% | -2.4% | -6.1% |
| Debt / equity | 0.05 | 0.08 | 0.08 | 0.03 | 0.04 | 0.05 | 0.09 | 0.09 | 0.08 | 0.04 |
| Current ratio | 2.67 | 2.45 | 3.55 | 3.65 | 4.39 | 3.56 | 2.73 | 4.57 | 5.89 | 4.17 |
| Revenue growth | 24.1% | 26.7% | 26.7% | -10.4% | 7.8% | -11.5% | 36.5% | -23.7% | 1.3% | -29.4% |
| EPS growth | 18.2% | 55.3% | — | -109.4% | 17.4% | — | -180.1% | — | — | -169.5% |