FIRST SOLAR, INC. (FSLR) closed fiscal year 2025 with a net margin of 29.3 %.
FIRST SOLAR, INC. (FSLR) closed fiscal year 2025 with a net margin of 29.3 %. The same year shows an EBITDA margin of 40.7 % and an EBIT margin of 30.6 %. The free cash flow margin was 22.7 %. Across the period the gross margin ranges between 17.5 % in 2018 and 54.4 % in 2008. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 49.88 % | 54.43 % | 50.56 % | 46.22 % | 35.13 % | 25.32 % | 26.12 % | 24.33 % | 27.54 % | 21.98 % | 18.66 % | 17.48 % | 17.93 % | 25.10 % | — | — | 39.19 % | 44.17 % | — |
| EBITDA margin (%) | — | 39.95 % | 39.17 % | 35.30 % | 6.02 % | 6.68 % | 18.27 % | 19.69 % | 24.02 % | -11.61 % | 9.97 % | 7.61 % | 1.43 % | 20.30 % | 28.96 % | 9.26 % | 35.11 % | 43.22 % | 40.73 % |
| EBIT margin (%) | 27.22 % | 35.17 % | 32.89 % | 29.21 % | -2.48 % | -1.12 % | 11.19 % | 12.44 % | 17.75 % | -19.56 % | 6.05 % | 1.79 % | -5.28 % | 11.71 % | 20.07 % | -1.04 % | 25.83 % | 33.15 % | 30.59 % |
| Net margin (%) | 31.42 % | 27.95 % | 30.98 % | 25.91 % | -1.43 % | -2.86 % | 10.60 % | 11.68 % | 14.43 % | -14.33 % | -5.63 % | 6.43 % | -3.75 % | 14.69 % | 16.03 % | -1.69 % | 25.03 % | 30.72 % | 29.28 % |
| FCF margin (%) | -7.23 % | 0.30 % | 19.13 % | 4.55 % | -27.67 % | 11.37 % | 17.33 % | 14.09 % | -11.95 % | -0.78 % | 28.09 % | -47.53 % | -16.14 % | -14.00 % | -10.36 % | -1.15 % | -23.64 % | -7.32 % | 22.75 % |
