TTM
33.2%
YoY change
−0.90pp
Trough year (2004)
-124.1%
Peak year (2003)
100.0%
Latest annual
32.3%
Operating Margin history chart for First Solar (FSLR) from 2003 to 2025
Latest: 32.3%
Operating Margin change chart for First Solar (FSLR) from 2003 to 2025
Latest: −0.90pp
Operating Margin history table for First Solar (FSLR) from 2003 to 2025
| 2025 | 32.3% | -0.90pp | ||
| 2024 | 33.2% | +7.32pp | ||
| 2023 | 25.8% | +26.87pp | ||
| 2022 | -1.0% | -21.11pp | ||
| 2021 | 20.1% | +8.36pp | ||
| 2020 | 11.7% | +16.99pp | ||
| 2019 | -5.3% | -7.07pp | ||
| 2018 | 1.8% | -4.26pp | ||
| 2017 | 6.0% | +25.61pp | ||
| 2016 | -19.6% | -37.31pp | ||
| 2015 | 17.8% | +5.31pp | ||
| 2014 | 12.4% | +1.25pp | ||
| 2013 | 11.2% | +12.31pp | ||
| 2012 | -1.1% | +1.37pp | ||
| 2011 | -2.5% | -31.70pp | ||
| 2010 | 29.2% | -3.68pp | ||
| 2009 | 32.9% | -2.28pp | ||
| 2008 | 35.2% | +7.95pp | ||
| 2007 | 27.2% | +25.14pp | ||
| 2006 | 2.1% | +12.05pp | ||
| 2005 | -10.0% | +114.14pp | ||
| 2004 | -124.1% | -224.10pp | ||
| 2003 | 100.0% | — |
- 202532.3%-0.90pp
- 202433.2%+7.32pp
- 202325.8%+26.87pp
- 2022-1.0%-21.11pp
- 202120.1%+8.36pp
- 202011.7%+16.99pp
- 2019-5.3%-7.07pp
- 20181.8%-4.26pp
- 20176.0%+25.61pp
- 2016-19.6%-37.31pp
- 201517.8%+5.31pp
- 201412.4%+1.25pp
- 201311.2%+12.31pp
- 2012-1.1%+1.37pp
- 2011-2.5%-31.70pp
- 201029.2%-3.68pp
- 200932.9%-2.28pp
- 200835.2%+7.95pp
- 200727.2%+25.14pp
- 20062.1%+12.05pp
- 2005-10.0%+114.14pp
- 2004-124.1%-224.10pp
- 2003100.0%—
Operating Margin values are taken from First Solar's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at First Solar (FSLR)
According to First Solar's latest reported financial statements, the company's latest reported operating margin is 33.2%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, First Solar (FSLR) reported operating margin of 32.26% – contracted 0.9 percentage points year-over-year.
The record annual operating margin stands at 100.00%, reached in 2003; the historical low of -124.10% was recorded in 2004.
First Solar Operating Margin by Year
First Solar Operating Margin 2025: 32.3%
First Solar operating margin in 2025 was 32.26%, contracted 0.9 percentage points from 2024.
First Solar Operating Margin 2024: 33.2%
2024's operating margin for First Solar came in at 33.15%, expanded 7.3 percentage points from 2023.
First Solar Operating Margin 2023: 25.8%
First Solar posted operating margin of 25.83% in 2023, expanded 26.9 percentage points from 2022.
First Solar Operating Margin 2022: -1.0%
In 2022, First Solar reported operating margin of -1.04%, contracted 21.1 percentage points from 2021.
First Solar Operating Margin 2021: 20.1%
First Solar operating margin in 2021 was 20.07%.
See more financial history for First Solar (FSLR).
Sector peers by Operating Margin
Energy peers of First Solar (FSLR), ranked by their latest operating margin
| 38.8% | |
| 18.3% | |
| 15.8% | |
| 14.4% | |
| 9.0% | |
| 8.4% | |
| 5.0% | |
| 4.6% |
- 18.3%
- 15.8%
- 14.4%
- 8.4%
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