First Solar, Inc. (FSLR) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 5.65B | 6.03B | 5.9B | 5.42B | 4.57B | 5.09B | 3.82B | 3.95B | 4.24B | 4.63B | 3.82B | 3.66B | 3.62B | 3.79B | 3.34B | 3.38B | 2.99B | 3.19B | 3.05B | 3.16B |
| Cash & Short-Term Investments | 2.43B | 2.86B | 2.04B | 1.15B | 890.76M | 1.79B | 1.27B | 1.74B | 1.99B | 2.1B | 1.82B | 1.88B | 2.27B | 2.58B | 1.93B | 1.85B | 1.55B | 1.83B | 1.92B | 1.77B |
| Cash Only | 2.36B | 2.8B | 1.99B | 1.12B | 837.64M | 1.62B | 1.01B | 1.7B | 1.68B | 1.95B | 1.49B | 829.91M | 906.63M | 1.48B | 1.15B | 1.7B | 1.33B | 1.45B | 1.37B | 1.35B |
| Short-Term Investments | 63.58M | 51.85M | 47.75M | 29.1M | 53.12M | 171.58M | 264.69M | 37.43M | 308.02M | 155.5M | 329.52M | 1.05B | 1.36B | 1.1B | 776.21M | 143.94M | 223.09M | 375.39M | 554.6M | 418.5M |
| Accounts Receivable | 1.37B | 1.29B | 2.25B | 2.33B | 1.96B | 1.81B | 904.06M | 789.88M | 961.73M | 1.41B | 808.92M | 719.72M | 324.51M | 329.61M | 360.57M | 489.87M | 322.12M | 454.71M | 273.34M | 597.62M |
| Days Sales Outstanding | 114.97 | 96.95 | 132.06 | 177.88 | 200.98 | 82.42 | 87.78 | 78.87 | 135.76 | 88.01 | 87.78 | 58.61 | 53.69 | 31.67 | 62.2 | 59.5 | 95.24 | 36.91 | 68.66 | 102.31 |
| Inventory | 893.88M | 736.73M | 1.1B | 1.72B | 1.57B | 1.35B | 1.5B | 1.26B | 1.18B | 1.01B | 1.07B | 949.79M | 931.65M | 783.3M | 966.91M | 961.94M | 993.3M | 819.4M | 647.44M | 603.06M |
| Days Inventory Outstanding | 131.48 | 83.08 | 132.08 | 251.08 | 269.89 | 138.6 | 287.78 | 216.99 | 222.1 | 145.86 | 218.61 | 171.12 | 176.91 | 85.49 | 145.94 | 138.11 | 229.41 | 102.11 | 125.34 | 115.32 |
| Other Current Assets | 951.34M | 1.14B | 508.29M | 94.43M | 38.92M | 57.2M | 41.27M | 35.95M | 44.55M | 43.04M | 56.58M | 40.39M | 34.67M | 48.96M | 23.23M | 31.53M | 35.23M | 21.48M | 25.16M | 18.89M |
| Total Non-Current Assets | 7.71B | 7.29B | 7.56B | 7.43B | 7.54B | 7.04B | 7.62B | 7.07B | 6.52B | 5.73B | 5.76B | 5.34B | 4.94B | 4.46B | 4.15B | 4.04B | 4.4B | 4.22B | 4.22B | 4.09B |
| Property, Plant & Equipment | 5.67B | 5.68B | 5.76B | 5.86B | 5.78B | 5.56B | 5.47B | 5.24B | 5.01B | 4.5B | 4.15B | 4.11B | 3.95B | 3.63B | 3.38B | 3.25B | 3.2B | 3.07B | 2.97B | 2.85B |
| Fixed Asset Turnover | 0.18x | 0.29x | 0.27x | 0.19x | 0.15x | 0.27x | 0.17x | 0.20x | 0.17x | 0.27x | 0.19x | 0.20x | 0.14x | 0.29x | 0.19x | 0.19x | 0.12x | 0.30x | 0.20x | 0.22x |
| Goodwill | 30.58M | 31.09M | 30.68M | 30.55M | 29.71M | 28.34M | 29.59M | 28.83M | 28.73M | 29.69M | 28.47M | 28.65M | 14.46M | 14.46M | 14.46M | 14.46M | 14.46M | 14.46M | 14.46M | 14.46M |
| Intangible Assets | 64.88M | 51.01M | 51.26M | 51.95M | 52.64M | 54.65M | 56.65M | 59.27M | 61.89M | 64.51M | 66.38M | 70.44M | 28.48M | 31.11M | 36.63M | 38.73M | 42.77M | 45.51M | 47.94M | 50.67M |
| Long-Term Investments | 0 | 0 | 537.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.74B | 1.34B | 994.59M | 1.29B | 1.48B | 1.19B | 1.82B | 1.54B | 1.24B | 994.55M | 1.38B | 1B | 815.5M | 705.47M | 663.02M | 673.98M | 1.09B | 1.03B | 1.08B | 1.07B |
| Total Assets | 13.35B | 13.32B | 13.46B | 12.86B | 12.12B | 12.12B | 11.44B | 11.01B | 10.76B | 10.37B | 9.58B | 9B | 8.56B | 8.25B | 7.49B | 7.42B | 7.4B | 7.41B | 7.27B | 7.25B |
| Asset Turnover | 0.08x | 0.13x | 0.12x | 0.09x | 0.07x | 0.13x | 0.08x | 0.09x | 0.08x | 0.12x | 0.09x | 0.09x | 0.07x | 0.13x | 0.08x | 0.08x | 0.05x | 0.12x | 0.08x | 0.09x |
| Asset Growth % | 10.19% | 9.87% | 17.69% | 16.74% | 12.6% | 16.97% | 19.35% | 22.42% | 25.64% | 25.62% | 27.89% | 21.27% | 15.75% | 11.3% | 3.08% | 2.36% | 4.08% | 4.29% | 4.06% | 2.49% |
| Total Current Liabilities | 2.21B | 2.25B | 3.09B | 2.85B | 2.37B | 2.08B | 1.78B | 1.77B | 1.76B | 1.31B | 1.2B | 1.09B | 1.17B | 1.04B | 816.27M | 803.55M | 734.99M | 726.88M | 715.24M | 660.92M |
| Accounts Payable | 306.83M | 405.77M | 284.54M | 367.65M | 427.8M | 482.19M | 265.32M | 230.89M | 239.24M | 207.18M | 110.8M | 245.83M | 285.76M | 341.41M | 188.28M | 160.96M | 146.23M | 193.37M | 170.04M | 148.33M |
| Days Payables Outstanding | 57.46 | 31.21 | 30.49 | 60.59 | 84.12 | 36.33 | 51.6 | 41.81 | 45.33 | 22.28 | 38.61 | 48.35 | 64.7 | 25.87 | 26.43 | 21.7 | 42.98 | 25.3 | 31.91 | 33.44 |
| Short-Term Debt | 188.59M | 215.98M | 484.83M | 644.53M | 197.2M | 236.42M | 208.26M | 140.18M | 200.91M | 96.24M | 35.41M | 0 | 0 | 0 | 5.43M | 5.15M | 4.7M | 3.9M | 37.13M | 3.24M |
| Deferred Revenue (Current) | 1.2B | 1.01B | 1.55B | 1.06B | 1.04B | 712M | 645.05M | 689.47M | 692.67M | 413.58M | 372.17M | 390.23M | 398.69M | 263.21M | 235.29M | 227.47M | 218.92M | 201.87M | 238.81M | 237.24M |
| Other Current Liabilities | 509.7M | 617.96M | 687M | 117.18M | 58.54M | 56.41M | 38.76M | 89.5M | 33.39M | 66M | 52.98M | 55.88M | 27.43M | 59.99M | 54.77M | 43.2M | 31.98M | 48.45M | 39.35M | 41.96M |
| Current Ratio | 2.56x | 2.67x | 1.91x | 1.90x | 1.93x | 2.45x | 2.14x | 2.23x | 2.41x | 3.55x | 3.19x | 3.36x | 3.08x | 3.65x | 4.09x | 4.21x | 4.07x | 4.39x | 4.26x | 4.77x |
| Quick Ratio | 2.15x | 2.35x | 1.55x | 1.30x | 1.27x | 1.80x | 1.30x | 1.51x | 1.74x | 2.77x | 2.30x | 2.49x | 2.29x | 2.90x | 2.91x | 3.01x | 2.72x | 3.26x | 3.35x | 3.86x |
| Cash Conversion Cycle | 188.99 | 148.82 | 233.66 | 368.36 | 386.76 | 184.68 | 323.96 | 254.04 | 312.53 | 211.59 | 267.78 | 181.38 | 165.9 | 91.29 | 181.72 | 175.91 | 281.67 | 113.72 | 162.09 | 184.19 |
| Total Non-Current Liabilities | 1.26B | 1.53B | 1.35B | 1.46B | 1.56B | 2.07B | 2.06B | 1.99B | 2.1B | 2.37B | 2.08B | 1.87B | 1.52B | 1.38B | 848.21M | 719.99M | 789.06M | 727.32M | 723.32M | 803.91M |
| Long-Term Debt | 237.18M | 282.59M | 282.56M | 327.97M | 327.94M | 373.35M | 373.32M | 418.73M | 418.69M | 464.07M | 464.04M | 437.41M | 320.38M | 184.35M | 254.22M | 170.02M | 247.35M | 236M | 241.48M | 276.08M |
| Capital Lease Obligations | 0 | 0 | 124.52M | 78.28M | 91.59M | 95.74M | 99.25M | 52.23M | 51.4M | 53.73M | 34.22M | 36.19M | 38.47M | 40.59M | 44.66M | 47.75M | 136.53M | 145.91M | 173.63M | 175.76M |
| Deferred Tax Liabilities | 0 | 0 | 56.29M | 56.52M | 55.25M | 54.7M | 52.94M | 44.05M | 41.29M | 42.77M | 47.63M | 43.81M | 32.5M | 28.93M | 24.81M | 23.06M | 30.12M | 27.7M | 14.3M | 14.61M |
| Other Non-Current Liabilities | 1.03B | 1.25B | 227.71M | 231.71M | 223.43M | 217.72M | 214.99M | 212.35M | 212.56M | 219.34M | 185.67M | 192.31M | 180.66M | 178.53M | 175.58M | 200.98M | 220.18M | 221.76M | 225.24M | 246.3M |
| Total Liabilities | 3.47B | 3.78B | 4.44B | 4.31B | 3.93B | 4.15B | 3.84B | 3.76B | 3.86B | 3.68B | 3.28B | 2.96B | 2.7B | 2.42B | 1.66B | 1.52B | 1.52B | 1.45B | 1.44B | 1.46B |
| Total Debt | 425.78M | 498.57M | 891.91M | 1.07B | 630.39M | 718.8M | 694.14M | 621.93M | 681.52M | 624.39M | 543.32M | 483.3M | 368.21M | 234.13M | 313.22M | 232.36M | 401.42M | 398.59M | 465.81M | 468.3M |
| Net Debt | -1.94B | -2.3B | -1.1B | -57.67M | -207.25M | -902.57M | -310.99M | -1.08B | -1B | -1.32B | -949.64M | -346.62M | -538.42M | -1.25B | -837.76M | -1.47B | -924.95M | -1.05B | -901.66M | -878.59M |
| Debt / Equity | 0.04x | 0.05x | 0.10x | 0.12x | 0.08x | 0.09x | 0.09x | 0.09x | 0.10x | 0.09x | 0.09x | 0.08x | 0.06x | 0.04x | 0.05x | 0.04x | 0.07x | 0.07x | 0.08x | 0.08x |
| Debt / EBITDA | 1.23x | 0.72x | 1.39x | 2.06x | 1.67x | 1.24x | 1.60x | 1.32x | 2.04x | 1.28x | 1.55x | 2.01x | 4.24x | 9.50x | - | 1.10x | 54.22x | 1.67x | 4.00x | 2.66x |
| Net Debt / EBITDA | -5.61x | -3.34x | -1.72x | -0.11x | -0.55x | -1.55x | -0.72x | -2.30x | -3.00x | -2.71x | -2.71x | -1.44x | -6.20x | -50.62x | - | -6.95x | -124.94x | -4.41x | -7.74x | -4.99x |
| Interest Coverage | 45.35x | 48.55x | 35.61x | 42.77x | 26.48x | 42.00x | 37.34x | 39.62x | 28.74x | 54.29x | 78.79x | 134.20x | 48.69x | -1.10x | -19.62x | 44.14x | -20.90x | 67.07x | 16.56x | 23.24x |
| Total Equity | 9.88B | 9.54B | 9.02B | 8.55B | 8.19B | 7.98B | 7.59B | 7.26B | 6.9B | 6.69B | 6.3B | 6.04B | 5.87B | 5.84B | 5.83B | 5.9B | 5.88B | 5.96B | 5.83B | 5.78B |
| Equity Growth % | 20.66% | 19.56% | 18.72% | 17.79% | 18.61% | 19.29% | 20.49% | 20.13% | 17.62% | 14.59% | 8.13% | 2.44% | -0.11% | -2.07% | -0.03% | 1.94% | 3.17% | 7.94% | 8.04% | 10.65% |
| Book Value per Share | 91.79 | 88.60 | 83.83 | 79.49 | 76.22 | 74.14 | 70.60 | 67.48 | 64.27 | 62.18 | 58.63 | 56.30 | 54.77 | 54.74 | 54.68 | 55.07 | 55.21 | 55.69 | 54.54 | 54.14 |
| Total Shareholders' Equity | 9.88B | 9.54B | 9.02B | 8.55B | 8.19B | 7.98B | 7.59B | 7.26B | 6.9B | 6.69B | 6.3B | 6.04B | 5.87B | 5.84B | 5.83B | 5.9B | 5.88B | 5.96B | 5.83B | 5.78B |
| Common Stock | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 107K | 106K | 106K | 106K |
| Retained Earnings | 0 | 0 | 6.27B | 5.81B | 5.47B | 5.26B | 4.87B | 4.56B | 4.21B | 3.97B | 3.62B | 3.35B | 3.18B | 3.14B | 3.15B | 3.2B | 3.14B | 3.18B | 3.05B | 3.01B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -168.2M | -155.47M | -154.88M | -160.92M | -171.07M | -184.06M | -168.86M | -188.32M | -183.6M | -174.13M | -198.97M | -186.05M | -179.98M | -191.82M | -199.85M | -170.23M | -129.45M | -96.36M | -88.74M | -83.46M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |