FIRST SOLAR, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $5.2B | $4.2B | $3.3B | $2.6B | $2.9B |
| Cost of revenue | $3.1B | $2.3B | $2.0B | $2.5B | $2.2B |
| Gross profit | $2.1B | $1.9B | $1.3B | $69.9M | $730.0M |
| Selling, general & administrative | $203.8M | $188.3M | $197.6M | $164.7M | $170.3M |
| Research and development | $233.4M | $191.4M | $152.3M | $112.8M | $99.1M |
| Operating expenses | $523.5M | $464.6M | $450.3M | $350.6M | $290.5M |
| Operating income | $1.6B | $1.4B | $857.3M | -$27.2M | $586.8M |
| Interest expense | $44.1M | $38.9M | $13.0M | $12.2M | $13.1M |
| Pretax income | $1.6B | $1.4B | $891.3M | $8.6M | $572.2M |
| Income tax expense | $52.7M | $114.3M | $60.5M | $52.8M | $103.5M |
| Net income | $1.5B | $1.3B | $830.8M | -$44.2M | $468.7M |
| Balance Sheet | |||||
| Cash and equivalents | $2.8B | $1.6B | $1.9B | $1.5B | $1.5B |
| Current assets | $6.0B | $5.1B | $4.6B | $3.8B | $3.2B |
| Total assets | $13.3B | $12.1B | $10.4B | $8.3B | $7.4B |
| Current liabilities | $2.3B | $2.1B | $1.3B | $1.0B | $726.9M |
| Total liabilities | $3.8B | $4.1B | $3.7B | $2.4B | $1.5B |
| Total debt | $498.6M | $609.8M | $560.3M | $184.3M | $239.9M |
| Stockholders' equity | $9.5B | $8.0B | $6.7B | $5.8B | $6.0B |
| Cash Flow Statement | |||||
| Cash from operations | $2.1B | $1.2B | $602.3M | $873.4M | $237.6M |
| Depreciation and amortization | $529.2M | $423.5M | $308.0M | $269.7M | $259.9M |
| Stock-based compensation | $19.2M | $28.1M | $34.2M | $28.7M | $20.9M |
| Capital expenditure | $869.9M | $1.5B | $1.4B | $903.6M | $540.3M |
| Free cash flow | $1.2B | -$308.1M | -$784.5M | -$30.2M | -$302.7M |
| Impairments | $0 | $1.4M | $1.6M | $63.3M | $22.9M |
Shares outstanding 107.5M · Free float 55.4%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.