First Solar Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), First Solar Inc. reported revenue of $5.2B (+24.1% year on year) and net income of $1.5B (+18.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $5.2B | $4.2B | $3.3B | $2.6B |
| Cost of sales | $3.1B | $2.3B | $2.0B | $2.5B |
| Gross profit | $2.1B | $1.9B | $1.3B | $69.9M |
| Selling, general and administrative | $203.8M | $188.3M | $197.6M | $164.7M |
| Research and development | $233.4M | $191.4M | $152.3M | $112.8M |
| Production start-up | $86.3M | $84.5M | $64.8M | $73.1M |
| Litigation loss | $0 | $430.0K | $35.6M | $0 |
| Total operating expenses | $523.5M | $464.6M | $450.3M | $350.6M |
| Gain on sales of businesses, net | $0 | $1.1M | $6.9M | $253.5M |
| Operating income | $1.6B | $1.4B | $857.3M | ($27.2M) |
| Foreign currency loss, net | ($38.6M) | ($25.0M) | ($21.5M) | ($16.4M) |
| Interest income | $81.8M | $89.1M | $97.7M | $33.3M |
| Interest Expense, net | ($44.1M) | ($38.9M) | ($13.0M) | ($12.2M) |
| Other expense, net | ($15.0M) | ($13.3M) | ($29.1M) | $31.2M |
| Income before taxes | $1.6B | $1.4B | $891.3M | — |
| Income tax expense | ($52.7M) | ($114.3M) | ($60.5M) | ($52.8M) |
| Net income | $1.5B | $1.3B | $830.8M | ($44.2M) |
| Basic | $14.25 | $12.07 | $7.78 | -$0.41 |
| Diluted | $14.21 | $12.02 | $7.74 | -$0.41 |
| Basic | 107.2M | 107.0M | 106.8M | 106.6M |
| Diluted | 107.5M | 107.5M | 107.4M | 106.6M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $1.1B | $1.0B | $1.6B | $1.1B |
| Cost of sales | $451.2M | $558.1M | $984.1M | $597.3M |
| Gross profit | $605.0M | $486.1M | $610.7M | $499.9M |
| Selling, general and administrative | $51.9M | $65.3M | $47.3M | $52.6M |
| Research and development | $76.2M | $66.9M | $60.6M | $54.5M |
| Production start-up | $26.4M | $8.6M | $36.7M | $31.2M |
| Total operating expenses | $154.6M | $140.8M | $144.7M | $138.2M |
| Operating income | $450.4M | $345.3M | $466.1M | $361.6M |
| Foreign currency loss, net | ($14.0M) | ($9.1M) | ($8.9M) | ($9.7M) |
| Interest income | $29.9M | $28.9M | $23.3M | $12.1M |
| Interest expense, net | ($5.6M) | ($7.6M) | ($14.1M) | ($9.2M) |
| Other expense, net | ($1.4M) | ($3.2M) | ($6.0M) | ($2.6M) |
| Income before taxes | $459.4M | $354.3M | $460.3M | $352.2M |
| Income tax expense | ($36.8M) | ($7.7M) | ($4.4M) | ($10.3M) |
| Net income | $422.6M | $346.6M | $455.9M | $341.9M |
| Basic | $3.93 | $3.23 | $4.25 | $3.19 |
| Diluted | $3.92 | $3.22 | $4.24 | $3.18 |
| Basic | 107.5M | 107.4M | 107.3M | 107.2M |
| Diluted | 107.7M | 107.6M | 107.5M | 107.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $2.8B | $1.6B | $1.9B | $1.5B |
| Marketable securities | $51.8M | $171.6M | $155.5M | $1.1B |
| Accounts receivable trade, net | $1.3B | $1.3B | $660.8M | $324.3M |
| Government grants receivable, net | $499.6M | $403.8M | $659.7M | — |
| Inventories | $736.7M | $1.1B | $819.9M | $621.4M |
| Other current assets | $643.1M | $546.9M | $391.9M | $237.1M |
| Total current assets | $6.0B | $5.1B | $4.6B | $3.8B |
| Property, plant and equipment, net | $5.7B | $5.4B | $4.4B | $3.5B |
| Deferred tax assets, net | $194.7M | $208.8M | $142.8M | $78.7M |
| Restricted marketable securities | $217.2M | $199.1M | $198.3M | $182.1M |
| Government grants receivable | $125.6M | $157.6M | $152.2M | — |
| Goodwill | $31.1M | $28.3M | $29.7M | $14.5M |
| Intangible assets, net | $51.0M | $54.7M | $64.5M | $31.1M |
| Inventories | $237.5M | $275.4M | $266.9M | $260.4M |
| Other assets | $759.7M | $697.8M | $478.6M | $319.8M |
| Total assets | $13.3B | $12.1B | $10.4B | $8.3B |
| Accounts payable | $405.8M | $482.2M | $207.2M | $341.4M |
| Income taxes payable | $7.5M | $77.4M | $22.1M | $29.4M |
| Accrued expenses | $519.4M | $508.6M | $524.8M | $382.8M |
| Current portion of debt | $216.0M | $236.4M | $96.2M | — |
| Deferred revenue | $1.0B | $712.0M | $413.6M | $263.2M |
| Other current liabilities | $91.1M | $60.9M | $42.2M | $21.2M |
| Total current liabilities | $2.3B | $2.1B | $1.3B | $1.0B |
| Accrued solar module collection and recycling liability | $146.0M | $134.4M | $135.1M | $128.1M |
| Long-term debt | $282.6M | $373.4M | $464.1M | $184.3M |
| Deferred revenue | $805.0M | $1.3B | $1.6B | $944.7M |
| Other liabilities | $295.6M | $233.8M | $180.7M | $119.9M |
| Total liabilities | $3.8B | $4.1B | $3.7B | $2.4B |
| Common stock, $0.001 par value per share; 500,000,000 shares authorized; 107,309,794 and 107,060,281 shares issued and outstanding at December 31, 2025 and 2024, respectively | $107000.00 | $107000.00 | $107000.00 | $107000.00 |
| Additional paid-in capital | $2.9B | $2.9B | $2.9B | $2.9B |
| Accumulated earnings | $6.8B | $5.3B | $4.0B | $3.1B |
| Accumulated other comprehensive loss | ($155.5M) | ($184.1M) | ($174.1M) | ($191.8M) |
| Total stockholders' equity | $9.5B | $8.0B | $6.7B | $5.8B |
| Total liabilities and stockholders' equity | $13.3B | $12.1B | $10.4B | $8.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.7B | $2.4B | $2.0B | $1.1B |
| Marketable securities | $38.7M | $63.6M | $47.7M | $29.1M |
| Accounts receivable trade, net | $1.5B | $1.4B | $1.4B | $1.7B |
| Government grants receivable, net | $284.5M | $285.2M | $684.1M | $482.5M |
| Inventories | $1.1B | $893.9M | $1.1B | $1.4B |
| Other current assets | $741.4M | $666.2M | $634.8M | $642.2M |
| Total current assets | $5.3B | $5.6B | $5.9B | $5.4B |
| Property, plant and equipment, net | $5.6B | $5.7B | $5.8B | $5.7B |
| Deferred tax assets, net | $198.6M | $207.5M | $183.6M | $204.7M |
| Restricted marketable securities | $214.3M | $214.7M | $215.5M | $213.7M |
| Government grants receivable | $978.8M | $537.6M | $296.2M | $238.8M |
| Goodwill | $30.1M | $30.6M | $30.7M | $30.6M |
| Intangibles assets, net | $63.4M | $64.9M | $51.3M | $52.0M |
| Inventories | $185.5M | $217.0M | $254.5M | $269.9M |
| Other assets | $757.1M | $766.9M | $765.8M | $702.3M |
| Total assets | $13.4B | $13.4B | $13.5B | $12.9B |
| Accounts payable | $346.3M | $306.8M | $284.5M | $367.7M |
| Income taxes payable | $46.6M | $22.8M | $78.8M | $79.0M |
| Accrued expenses | $410.2M | $436.5M | $587.7M | $593.2M |
| Current portion of debt | $37.6M | $188.6M | $272.4M | $249.9M |
| Deferred revenue | $1.2B | $1.2B | $1.6B | $1.1B |
| Other current liabilities | $91.7M | $50.4M | $311.8M | $504.5M |
| Total current liabilities | $2.1B | $2.2B | $3.1B | $2.9B |
| Accrued solar module collection and recycling liability | $144.8M | $145.1M | $145.1M | $144.6M |
| Long-term debt | $0 | $237.2M | $282.6M | $328.0M |
| Deferred revenue | $519.5M | $582.4M | $663.1M | $764.8M |
| Other liabilities | $292.1M | $299.5M | $263.4M | $221.9M |
| Total liabilities | $3.1B | $3.5B | $4.4B | $4.3B |
| Common stock, $0.001 par value per share; 500,000,000 shares authorized; 107,469,302 and 107,309,794 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | $107000.00 | $107000.00 | $107000.00 | $107000.00 |
| Additional paid-in capital | $2.9B | $2.9B | $2.9B | $2.9B |
| Accumulated earnings | $7.6B | $7.1B | $6.3B | $5.8B |
| Accumulated other comprehensive loss | ($156.1M) | ($168.2M) | ($154.9M) | ($160.9M) |
| Total stockholders' equity | $10.3B | $9.9B | $9.0B | $8.5B |
| Total liabilities and stockholders' equity | $13.4B | $13.4B | $13.5B | $12.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.5B | $1.3B | $830.8M | ($44.2M) |
| Depreciation, amortization and accretion | $529.2M | $423.5M | $308.0M | $269.7M |
| Share-based compensation | $19.2M | $28.1M | $34.2M | $28.7M |
| Deferred income taxes | $25.6M | ($54.8M) | ($60.8M) | ($12.8M) |
| Gain on sales of businesses, net | $0 | ($1.1M) | ($6.9M) | ($253.5M) |
| Other, net | $44.2M | $12.0M | $22.1M | ($1.0M) |
| Accounts receivable, trade | $30.6M | ($505.3M) | ($304.2M) | $118.7M |
| Inventories | $377.7M | ($276.8M) | ($205.1M) | $16.7M |
| Government grants receivable | ($151.0M) | $270.3M | ($659.7M) | — |
| Other assets | ($171.8M) | ($311.4M) | ($224.3M) | $72.6M |
| Income tax receivable and payable | ($31.8M) | $47.4M | $8.7M | $43.6M |
| Accounts payable and accrued expenses | $4.7M | $268.7M | $79.3M | $5.6M |
| Deferred revenue | ($189.9M) | $698.0K | $783.2M | $912.9M |
| Other liabilities | $42.2M | $23.2M | ($13.1M) | ($11.9M) |
| Net cash provided by operating activities | $2.1B | $1.2B | $602.3M | $873.4M |
| Purchases of property, plant and equipment | ($869.9M) | ($1.5B) | ($1.4B) | ($903.6M) |
| Purchases of marketable securities and restricted marketable securities | ($1.5B) | ($2.5B) | ($3.6B) | ($3.4B) |
| Proceeds from sales and maturities of marketable securities | $1.7B | $2.5B | $4.6B | $2.6B |
| Proceeds from sales of businesses, net of cash and restricted cash sold | $0 | $0 | $7.7M | $442.3M |
| Acquisitions, net of cash acquired | $0 | $0 | ($35.7M) | — |
| Other investing activities | ($8.4M) | ($13.0M) | ($9.0M) | ($3.0M) |
| Net cash used in investing activities | ($765.2M) | ($1.6B) | ($472.8M) | ($1.2B) |
| Proceeds from borrowings under debt arrangements, net of issuance costs | $370.5M | $258.5M | $368.0M | — |
| Repayment of debt | ($473.4M) | ($205.8M) | $0 | — |
| Proceeds from other borrowings | $487.3M | — | — | — |
| Repayments of other borrowings | ($487.3M) | — | — | — |
| Payments of tax withholdings for restricted shares | -15.5M | -20.2M | -31.1M | -12.1M |
| Contingent consideration payment and other financing activities | ($810.0K) | ($7.6M) | — | $0 |
| Net cash (used in) provided by financing activities | ($119.2M) | $24.8M | $336.9M | $309.4M |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents | $3.1M | ($6.4M) | $5.3M | $47.4M |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | $1.2B | — | — | $37.6M |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of the period | $1.6B | $2.0B | $1.5B | $1.5B |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of the period | $2.8B | $1.6B | $2.0B | $1.5B |
| Property, plant and equipment acquisitions funded by liabilities | $133.7M | $185.6M | $249.5M | $316.0M |
| Proceeds to be received from asset-based government grants | $147.7M | $171.9M | $152.2M | — |
| Acquisitions funded by contingent consideration | $2.2M | $6.5M | $18.5M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $769.2M | $346.6M | $1.0B | $551.4M |
| Depreciation and amortization | $295.2M | $147.4M | $388.6M | $250.5M |
| Share-based compensation | $13.8M | $6.8M | $16.7M | $9.4M |
| Deferred income taxes | ($11.9M) | ($15.7M) | $26.5M | $5.9M |
| Other, net | $39.9M | $20.5M | $28.2M | $7.2M |
| Accounts receivable, trade | ($141.0M) | ($85.8M) | ($197.0M) | ($417.1M) |
| Inventories | ($306.0M) | ($143.8M) | ($679.0K) | ($323.8M) |
| Government grants receivable | ($649.3M) | ($204.9M) | ($442.0M) | ($177.4M) |
| Other assets | ($94.8M) | ($33.9M) | ($150.2M) | ($106.1M) |
| Income tax receivable and payable | $42.5M | $29.5M | ($44.7M) | ($39.7M) |
| Accounts payable and accrued expenses | ($166.1M) | ($211.4M) | ($164.2M) | ($85.1M) |
| Deferred revenue | ($155.8M) | ($38.1M) | $262.9M | ($186.7M) |
| Other liabilities | $4.4M | ($32.0M) | $83.7M | $53.1M |
| Net cash used in operating activities | ($359.8M) | ($214.9M) | $815.2M | ($458.4M) |
| Purchases of property, plant and equipment | ($279.8M) | ($118.5M) | ($698.1M) | ($494.1M) |
| Purchases of marketable securities and restricted marketable securities | ($1.4B) | ($459.8M) | ($1.3B) | ($930.8M) |
| Proceeds from sales and maturities of marketable securities | $1.4B | $444.8M | $1.4B | — |
| Other investing activities | ($22.6M) | ($15.0M) | $3.0M | $7.0M |
| Net cash used in investing activities | ($291.6M) | ($148.5M) | ($577.9M) | ($350.2M) |
| Proceeds from borrowings under debt arrangements, net of issuance costs | $209.2M | $60.8M | $309.0M | $212.3M |
| Repayment of debt | ($672.4M) | ($132.5M) | ($357.5M) | ($244.0M) |
| Proceeds from other borrowings | $0 | — | $487.3M | $394.4M |
| Payments of tax withholdings for restricted shares | -194.0K | -174.0K | -15.5M | -15.4M |
| Other financing activities | ($583.0K) | ($379.0K) | ($527.0K) | ($266.0K) |
| Net cash (used in) provided by financing activities | ($463.9M) | ($72.2M) | $124.4M | $347.0M |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents | $3.8M | ($2.0M) | $2.0M | $3.5M |
| Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents | ($1.1B) | ($437.7M) | $363.7M | ($458.1M) |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of the period | $2.8B | $2.8B | $1.6B | $1.6B |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of the period | $1.7B | $2.4B | $2.0B | $1.2B |
| Property, plant and equipment acquisitions funded by liabilities | $136.9M | $169.6M | $222.1M | $242.2M |
| Proceeds to be received from asset-based government grants | $136.6M | $140.3M | $149.8M | $155.3M |
First Solar Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.