First Solar Inc

NAS:FSLRTechnologyCBOE:SPESGNASDAQ:CELS

$171.80−0.49%At closeAt close · Tue 20 Oct · ≈ AED 630.94 · Market cap $18.46B · Next earnings Thu 29 Oct · Extended $169.90 −1.11%

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	25.1%	25.0%	2.7%	39.2%	44.2%	40.6%	—	—
Operating margin	11.7%	20.1%	−1.0%	25.8%	33.2%	32.3%	32.3%	+0.0 pts
Net margin	14.7%	16.0%	−1.7%	25.0%	30.7%	29.3%	29.3%	+0.0 pts
EBITDA margin	20.3%	28.9%	11.1%	36.5%	44.4%	41.3%	—	—
Return on equity	7.2%	7.9%	−0.8%	12.4%	16.2%	16.0%	16.0%	+0.0 pts
Return on assets	5.6%	6.3%	−0.5%	8.0%	10.7%	11.5%	11.5%	+0.0 pts
Return on capital employed	5.1%	8.8%	−0.4%	9.5%	13.9%	15.2%	—	—
Debt / equity	0.1×	0.1×	0.0×	0.1×	0.1×	0.1×	0.1×	+0.0%
Debt / assets	6.8%	5.4%	2.8%	6.0%	5.9%	3.7%	—	—
Interest coverage	13.2×	44.8×	−2.2×	66.1×	35.9×	38.1×	—	—
Current ratio	3.6×	4.4×	3.7×	3.5×	2.4×	2.7×	2.7×	+0.0%
Quick ratio	2.7×	3.3×	2.9×	2.8×	1.8×	2.2×	—	—
Cash ratio	1.4×	2.0×	1.4×	1.5×	0.8×	1.2×	1.2×	+0.0%
Asset turnover	0.4×	0.4×	0.3×	0.3×	0.3×	0.4×	—	—
Inventory turnover	2.9×	2.7×	3.3×	2.0×	1.7×	2.9×	—	—
Receivables turnover	9.2×	6.4×	7.9×	2.4×	2.3×	2.7×	—	—
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.