How does First Solar (FSLR) make money?

First Solar (FSLR) primarily makes money through Solar Module, which accounts for 100% of total revenue. For TTM through Q4 2025, First Solar generated $5.22B in total revenue with a net profit margin of 29.3%.

What is First Solar (FSLR) gross profit margin?

First Solar (FSLR) reported a gross profit margin of 40.6% for TTM through Q4 2025, equivalent to $2.12B in gross profit. This means First Solar retains 40.6% of each revenue unit after direct costs of production.

What is First Solar (FSLR) operating profit margin?

First Solar (FSLR) reported an operating profit margin of 30.6% for TTM through Q4 2025, equivalent to $1.60B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is First Solar (FSLR) net profit margin?

First Solar (FSLR) reported a net profit margin of 29.3% for TTM through Q4 2025, equivalent to $1.53B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does First Solar (FSLR) invest in R&D?

First Solar (FSLR) invested $233.42M in research and development in TTM through Q4 2025 (4.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does First Solar (FSLR) spend on capital expenditures?

First Solar (FSLR) spent $869.88M on capital expenditures in TTM through Q4 2025 (16.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is First Solar (FSLR) free cash flow?

First Solar (FSLR) generated $1.19B in free cash flow for TTM through Q4 2025 (22.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is First Solar (FSLR) effective tax rate?

First Solar (FSLR) had an effective tax rate of 3.3% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

How First Solar (FSLR) Makes Money: A Visual Guide

First Solar (FSLR) generated $5.22B in revenue, earning $1.53B in net profit (29.3% margin). Its largest revenue source is Solar Module (100% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

First Solar (FSLR) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported February 24, 2026).

Frequently asked questions

How does First Solar (FSLR) make money?: First Solar (FSLR) primarily makes money through Solar Module, which accounts for 100% of total revenue. For TTM through Q4 2025, First Solar generated $5.22B in total revenue with a net profit margin of 29.3%.
What is First Solar (FSLR) gross profit margin?: First Solar (FSLR) reported a gross profit margin of 40.6% for TTM through Q4 2025, equivalent to $2.12B in gross profit. This means First Solar retains 40.6% of each revenue unit after direct costs of production.
What is First Solar (FSLR) operating profit margin?: First Solar (FSLR) reported an operating profit margin of 30.6% for TTM through Q4 2025, equivalent to $1.60B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is First Solar (FSLR) net profit margin?: First Solar (FSLR) reported a net profit margin of 29.3% for TTM through Q4 2025, equivalent to $1.53B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does First Solar (FSLR) invest in R&D?: First Solar (FSLR) invested $233.42M in research and development in TTM through Q4 2025 (4.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does First Solar (FSLR) spend on capital expenditures?: First Solar (FSLR) spent $869.88M on capital expenditures in TTM through Q4 2025 (16.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is First Solar (FSLR) free cash flow?: First Solar (FSLR) generated $1.19B in free cash flow for TTM through Q4 2025 (22.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is First Solar (FSLR) effective tax rate?: First Solar (FSLR) had an effective tax rate of 3.3% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.