To the full analysis
First Solar stock: growth
FSLRFirst Solar reported $5.22B in revenue for fiscal 2025, up 24.1% on the prior year, up 14% a year on average over up to five years.
Daily figure as of 12 Nov 2026
Revenue (Annual rate)
21.2%
per year from 2006 to 2025, per share 17.2%
Earnings (Annual rate)
36.8%
per year from 2006 to 2025, per share 32.3%
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 14.0% | 2.4% | 21.2% |
| Revenue per share | 13.7% | 1.8% | 17.2% |
| Earnings | 30.9% | 9.9% | 36.8% |
| Earnings per share | 30.5% | 10.1% | 32.3% |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $134.97M | $3.97M | −$153.73M |
| 2007 | $503.98M | $158.35M | −$36.42M |
| 2008 | $1.25B | $348.33M | $3.8M |
| 2009 | $2.07B | $640.14M | $395.25M |
| 2010 | $2.56B | $664.2M | $116.58M |
| 2011 | $2.77B | −$39.49M | −$765.28M |
| 2012 | $3.37B | −$96.34M | $382.98M |
| 2013 | $3.31B | $350.72M | $573.55M |
| 2014 | $3.39B | $395.96M | $423.44M |
| 2015 | $4.11B | $593.41M | −$527.36M |
| 2016 | $2.9B | −$416.11M | −$22.7M |
| 2017 | $2.94B | −$165.62M | $826.32M |
| 2018 | $2.24B | $144.33M | −$1.07B |
| 2019 | $3.06B | −$114.93M | −$494.52M |
| 2020 | $2.71B | $398.36M | −$379.52M |
| 2021 | $2.92B | $468.69M | −$302.73M |
| 2022 | $2.62B | −$44.17M | −$30.24M |
| 2023 | $3.32B | $830.78M | −$784.52M |
| 2024 | $4.21B | $1.29B | −$308.08M |
| 2025 | $5.22B | $1.53B | $1.19B |
Revenue by region
Where First Solar, Inc. generates its revenue.
- United States96%
- India4%
- Other< 1%
“Other” combines smaller regions with revenue the company does not assign to a region.
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| United States | $2.46B | $2.19B | $3.19B | $3.9B | $4.99B | 95.7% |
| India | $37.65M | $37.22M | $10.87M | $201.71M | $195.58M | 3.7% |
| Other | $429.13M | $388.49M | $120.13M | $99.73M | $0 | 0% |
| Total revenue | $2.92B | $2.62B | $3.32B | $4.21B | $5.22B | 100% |
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 21 Aug 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.