First Solar, Inc.

What Do They Do?

Sells thin-film solar modules to project developers and power producers, utilities, and businesses and other energy-system owners.

Customers buy solar modules, with the sale tied to delivery at the location specified in the contract.

FY2025 revenue

Commercial and industrial companies and large corporate energy buyers are among its third-party customers.

Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 23 cents into free cash flow.

Operating income, FY2025

31% of revenue

▲ +15% vs FY2024 ($1.4B, 33%)

Net income, FY2025

29% of revenue

▲ +18% vs FY2024 ($1.3B, 31%)

Free cash flow, FY2025

23% of revenue

▲ Now profitable vs FY2024 (−$308.1M, −7%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Jul 30, 2026 First Solar reports second-quarter results and reaffirms 2026 guidance The company reaffirmed its 2026 guidance after reporting second-quarter net sales down 4% year over year.

Growing. Revenue grew 79% in 4 years, from $2.9B in FY2021 to $5.2B in FY2025, about 16% a year.

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