First Solar, Inc. (FSLR) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 1.04B | 1.68B | 1.59B | 1.1B | 844.57M | 1.51B | 887.67M | 1.01B | 794.11M | 1.16B | 801.09M | 810.67M | 548.29M | 1B | 628.93M | 620.96M | 367.04M | 907.32M | 583.5M | 629.18M |
| Revenue Growth % | 23.64% | 11.15% | 79.67% | 8.58% | 6.35% | 30.68% | 10.81% | 24.65% | 44.83% | 15.58% | 27.37% | 30.55% | 49.38% | 10.48% | 7.79% | -1.31% | -54.31% | 48.93% | -37.09% | -2.06% |
| Cost of Goods Sold | 558.11M | 1.02B | 984.11M | 597.32M | 486.81M | 946.37M | 442.36M | 511.59M | 448.11M | 656.52M | 424.92M | 500.25M | 436.24M | 941.78M | 607.95M | 644.15M | 355.58M | 660.83M | 458.92M | 455.06M |
| COGS % of Revenue | 53.45% | 60.46% | 61.71% | 54.44% | 57.64% | 62.51% | 49.83% | 50.63% | 56.43% | 56.67% | 53.04% | 61.71% | 79.56% | 93.95% | 96.66% | 103.74% | 96.88% | 72.83% | 78.65% | 72.33% |
| Gross Profit | 486.13M | 665.34M | 610.75M | 499.85M | 357.76M | 567.66M | 445.31M | 498.89M | 346M | 502.03M | 376.18M | 310.42M | 112.05M | 60.61M | 20.98M | -23.2M | 11.46M | 246.49M | 124.58M | 174.12M |
| Gross Margin % | 46.55% | 39.54% | 38.29% | 45.56% | 42.36% | 37.49% | 50.17% | 49.37% | 43.57% | 43.33% | 46.96% | 38.29% | 20.44% | 6.05% | 3.34% | -3.74% | 3.12% | 27.17% | 21.35% | 27.67% |
| Gross Profit Growth % | 35.88% | 17.21% | 37.15% | 0.19% | 3.4% | 13.07% | 18.38% | 60.71% | 208.79% | 728.26% | 1692.85% | 1438.02% | 877.5% | -75.41% | -83.16% | -113.32% | -93.8% | 54.19% | -57.48% | 26.67% |
| Operating Expenses | 140.83M | 116.63M | 107.92M | 107.08M | 105.55M | 110.89M | 123.31M | 126.38M | 102.86M | 104.25M | 103.21M | 141.91M | 94.05M | 106.52M | 89.33M | -168.03M | 69.27M | 73.33M | 73.71M | 63.74M |
| OpEx % of Revenue | 13.49% | 6.93% | 6.77% | 9.76% | 12.5% | 7.32% | 13.89% | 12.51% | 12.95% | 9% | 12.88% | 17.5% | 17.15% | 10.63% | 14.2% | -27.06% | 18.87% | 8.08% | 12.63% | 10.13% |
| Selling, General & Admin | 65.33M | 50.68M | 47.32M | 52.59M | 53.16M | 49.58M | 46.29M | 46.56M | 45.83M | 57.09M | 50.17M | 46.33M | 44.03M | 42.73M | 46.37M | 38.89M | 36.73M | 38.41M | 43.48M | 36.35M |
| SG&A % of Revenue | 6.26% | 3.01% | 2.97% | 4.79% | 6.29% | 3.27% | 5.22% | 4.61% | 5.77% | 4.93% | 6.26% | 5.71% | 8.03% | 4.26% | 7.37% | 6.26% | 10.01% | 4.23% | 7.45% | 5.78% |
| Research & Development | 66.94M | 65.95M | 60.59M | 54.49M | 52.39M | 46.5M | 50.2M | 51.94M | 42.74M | 43.86M | 41.19M | 36.74M | 30.51M | 31.28M | 29.18M | 25.23M | 27.11M | 29.88M | 25.43M | 23.93M |
| R&D % of Revenue | 6.41% | 3.92% | 3.8% | 4.97% | 6.2% | 3.07% | 5.65% | 5.14% | 5.38% | 3.79% | 5.14% | 4.53% | 5.56% | 3.12% | 4.64% | 4.06% | 7.39% | 3.29% | 4.36% | 3.8% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 345.3M | 548.71M | 502.83M | 392.77M | 252.21M | 456.77M | 322M | 372.51M | 243.14M | 397.78M | 272.96M | 168.51M | 18M | -45.91M | -68.35M | 144.83M | -57.8M | 173.16M | 50.87M | 110.38M |
| Operating Margin % | 33.07% | 32.61% | 31.53% | 35.8% | 29.86% | 30.17% | 36.27% | 36.86% | 30.62% | 34.33% | 34.07% | 20.79% | 3.28% | -4.58% | -10.87% | 23.32% | -15.75% | 19.08% | 8.72% | 17.54% |
| Operating Income Growth % | 36.91% | 20.13% | 56.16% | 5.44% | 3.73% | 14.83% | 17.96% | 121.06% | 1250.63% | 966.52% | 499.35% | 16.36% | 131.14% | -126.51% | -234.38% | 31.21% | -122.91% | 199.72% | -75.45% | 116.87% |
| EBITDA | 345.3M | 689.34M | 640.89M | 517.42M | 378.08M | 581.19M | 433.16M | 469.85M | 333.73M | 487.48M | 350.71M | 240.22M | 86.86M | 24.64M | -930K | 211.38M | 7.4M | 238.45M | 116.56M | 176.09M |
| EBITDA Margin % | 33.07% | 40.96% | 40.18% | 47.16% | 44.77% | 38.39% | 48.8% | 46.5% | 42.03% | 42.08% | 43.78% | 29.63% | 15.84% | 2.46% | -0.15% | 34.04% | 2.02% | 26.28% | 19.98% | 27.99% |
| EBITDA Growth % | -8.67% | 18.61% | 47.96% | 10.13% | 13.29% | 19.22% | 23.51% | 95.59% | 284.22% | 1878.79% | 37810.54% | 13.64% | 1073.27% | -89.67% | -100.8% | 20.04% | -97.65% | 103.07% | -56.27% | 62.3% |
| D&A (Non-Cash Add-back) | 0 | 140.63M | 138.06M | 124.65M | 125.88M | 124.42M | 111.16M | 97.34M | 90.58M | 89.69M | 77.74M | 71.7M | 68.86M | 70.54M | 67.42M | 66.55M | 65.21M | 65.29M | 65.69M | 65.71M |
| EBIT | 0 | 548.71M | 502.83M | 392.77M | 252.21M | 457.23M | 336.35M | 386.9M | 264.73M | 383.75M | 294.2M | 189.89M | 36.42M | -3.44M | -58.69M | 142.84M | -59.89M | 169.7M | 49M | 107.42M |
| Net Interest Income | 0 | 16.19M | 9.19M | 2.92M | 9.34M | 3.78M | 13.57M | 14.83M | 18.04M | 16.5M | 19.52M | 23.61M | 25.07M | 15.2M | 6.76M | -356K | -540K | -347K | -1.21M | -3.33M |
| Interest Income | 28.86M | 27.49M | 23.31M | 12.1M | 18.86M | 14.67M | 22.58M | 24.6M | 27.25M | 23.57M | 23.25M | 25.03M | 25.82M | 18.33M | 9.75M | 2.88M | 2.33M | 2.18M | 1.75M | 1.29M |
| Interest Expense | -7.62M | 11.3M | 14.12M | 9.18M | 9.53M | 10.89M | 9.01M | 9.77M | 9.21M | 7.07M | 3.73M | 1.42M | 748K | 3.13M | 2.99M | 3.24M | 2.87M | 2.53M | 2.96M | 4.62M |
| Other Income/Expense | 9.03M | 2.63M | -42.48M | -40.61M | -35.15M | -10.42M | 5.34M | 4.62M | 12.38M | -21.1M | 17.5M | 19.96M | 17.67M | 39.33M | 6.67M | -5.22M | -4.95M | -5.99M | -4.83M | -7.58M |
| Pretax Income | 354.33M | 551.34M | 460.35M | 352.17M | 217.06M | 446.35M | 327.34M | 377.13M | 255.52M | 376.68M | 290.46M | 188.47M | 35.67M | -6.57M | -61.68M | 139.6M | -62.75M | 167.17M | 46.04M | 102.8M |
| Pretax Margin % | 33.93% | 32.76% | 28.86% | 32.1% | 25.7% | 29.48% | 36.88% | 37.32% | 32.18% | 32.51% | 36.26% | 23.25% | 6.51% | -0.66% | -9.81% | 22.48% | -17.1% | 18.42% | 7.89% | 16.34% |
| Income Tax | -7.71M | 30.46M | 4.4M | 10.3M | 7.52M | 53.23M | 14.39M | 27.77M | 18.9M | 27.44M | 22.07M | 17.89M | -6.89M | 976K | -12.51M | 83.8M | -19.5M | 35.8M | 837K | 20.35M |
| Effective Tax Rate % | -2.18% | 5.52% | 0.96% | 2.92% | 3.47% | 11.93% | 4.39% | 7.36% | 7.4% | 7.29% | 7.6% | 9.49% | -19.31% | -14.85% | 20.29% | 60.03% | 31.07% | 21.41% | 1.82% | 19.79% |
| Net Income | 346.62M | 520.88M | 455.94M | 341.87M | 209.53M | 393.12M | 312.96M | 349.36M | 236.62M | 349.24M | 268.4M | 170.58M | 42.56M | -7.55M | -49.17M | 55.8M | -43.26M | 131.37M | 45.2M | 82.45M |
| Net Margin % | 33.19% | 30.95% | 28.59% | 31.16% | 24.81% | 25.96% | 35.26% | 34.57% | 29.8% | 30.14% | 33.5% | 21.04% | 7.76% | -0.75% | -7.82% | 8.99% | -11.78% | 14.48% | 7.75% | 13.1% |
| Net Income Growth % | 65.42% | 32.5% | 45.69% | -2.14% | -11.45% | 12.56% | 16.6% | 104.81% | 455.95% | 4726.91% | 645.88% | 205.67% | 198.4% | -105.75% | -208.77% | -32.32% | -120.63% | 13.54% | -70.84% | 123.37% |
| Net Income (Continuing) | 346.62M | 520.88M | 455.94M | 341.87M | 209.53M | 393.12M | 312.96M | 349.36M | 236.62M | 349.24M | 268.4M | 170.58M | 42.56M | -7.55M | -49.17M | 55.8M | -43.26M | 131.37M | 45.2M | 82.45M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.22 | 4.84 | 4.24 | 3.18 | 1.95 | 3.65 | 2.91 | 3.25 | 2.20 | 3.25 | 2.50 | 1.59 | 0.40 | -0.07 | -0.46 | 0.52 | -0.41 | 1.23 | 0.42 | 0.77 |
| EPS Growth % | 65.13% | 32.6% | 45.7% | -2.15% | -11.36% | 12.31% | 16.4% | 104.4% | 450% | 4690.4% | 643.48% | 205.77% | 197.56% | -105.76% | -209.52% | -32.47% | -120.92% | 13.89% | -71.03% | 120% |
| EPS (Basic) | 3.23 | 4.85 | 4.25 | 3.19 | 1.96 | 3.67 | 2.92 | 3.26 | 2.21 | 3.27 | 2.51 | 1.60 | 0.40 | -0.07 | -0.46 | 0.52 | -0.41 | 1.24 | 0.43 | 0.78 |
| Diluted Shares Outstanding | 107.62M | 107.66M | 107.54M | 107.52M | 107.42M | 107.59M | 107.56M | 107.53M | 107.41M | 107.56M | 107.5M | 107.28M | 107.15M | 106.61M | 106.6M | 107.06M | 106.41M | 107.01M | 106.9M | 106.84M |
| Basic Shares Outstanding | 107.36M | 107.31M | 107.26M | 107.25M | 107.12M | 107.06M | 107.05M | 107.04M | 106.91M | 106.84M | 106.83M | 106.83M | 106.67M | 106.61M | 106.6M | 106.59M | 105.5M | 106.33M | 106.32M | 106.31M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |