First Solar, Inc. (FSLR) quarterly cash flow statement — complete operating, investing & financing history
First Solar, Inc. (FSLR) cash flow statement — 23-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | -42.95M | -144.9M | -214.87M | 1.24B | 1.27B | 149.58M | -607.98M | 811M | -53.73M | 193.01M | 267.72M | 561.11M | 165.43M | -89.68M | -34.6M | 795.22M | 128.97M | 88.02M | -138.84M | 34.47M |
| Operating CF Margin % | -3.49% | -13.72% | -20.58% | 73.8% | 79.86% | 13.63% | -71.99% | 53.57% | -6.05% | 19.1% | 33.71% | 48.43% | 20.65% | -11.06% | -6.31% | 79.33% | 20.51% | 14.17% | -37.83% | 3.8% |
| Operating CF Growth % | -103.37% | -196.87% | 64.66% | 53.13% | 2470.23% | -22.5% | -327.09% | 44.53% | -132.48% | 315.23% | 873.81% | -29.44% | 28.26% | -201.89% | 75.08% | 2207.18% | -57.76% | -50.34% | 50.32% | -81.5% |
| Net Income | 571.06M | 422.57M | 346.62M | 520.88M | 455.94M | 341.87M | 209.53M | 393.12M | 312.96M | 349.36M | 236.62M | 349.24M | 268.4M | 170.58M | 42.56M | -7.55M | -49.17M | 55.8M | -43.26M | 131.37M |
| Depreciation & Amortization | 148.03M | 147.84M | 147.39M | 140.63M | 140.33M | 124.64M | 125.88M | 124.42M | 111.16M | 97.34M | 90.58M | 89.69M | 77.74M | 71.7M | 68.86M | 70.54M | 67.42M | 66.55M | 65.21M | 65.29M |
| Stock-Based Compensation | 9.08M | 7.04M | 6.78M | 2.51M | 7.32M | 6.81M | 2.58M | 6.12M | 6.8M | 8.4M | 6.79M | 11.01M | 8.2M | 8.41M | 6.6M | 7.54M | 11.85M | 5.76M | 3.5M | 5.93M |
| Deferred Taxes | -25.59M | 3.83M | -15.71M | -866K | 20.62M | 1.12M | 4.74M | 30.59M | -26.94M | -29.37M | -29.03M | -14.76M | -3.45M | 12.68M | -55.28M | -8.2M | 976K | -6.66M | 1.08M | 63.3M |
| Other Non-Cash Items | 3.26M | 206.85M | -166.91M | -255.04M | 18.78M | -1.47M | 8.64M | 10.1M | 1.59M | 2.46M | -1.93M | 16.68M | 9.03M | -8.28M | -681K | -169.21M | -12.48M | -185.25M | 258K | -72.27M |
| Working Capital Changes | -748.78M | -933.04M | -533.04M | 833.77M | 630.63M | -323.39M | -959.36M | 246.65M | -459.29M | -235.18M | -35.31M | 109.25M | -194.49M | -344.77M | -96.65M | 902.09M | 110.38M | 151.81M | -165.63M | -159.15M |
| Change in Receivables | -150.01M | -55.2M | -85.76M | 227.59M | -44.42M | -188.62M | -405.94M | -107.03M | -363.14M | -64.25M | 299.39M | 80.86M | -207.46M | -211.52M | 33.93M | 118.72M | 31.24M | 1.5M | 144.29M | -96.95M |
| Change in Inventory | -43.04M | -162.14M | -143.81M | 378.4M | 323.1M | -121M | -202.78M | 157.57M | -218.88M | -66.02M | -149.47M | 42.62M | -116.1M | -8.63M | -123M | 178.42M | -1.27M | 15.53M | -175.99M | -20.35M |
| Change in Payables | 18.86M | 45.29M | -211.36M | 314.67M | -79.08M | 60.68M | -145.8M | 277.68M | 104.3M | 47.68M | -160.94M | -349.98M | -135.43M | -132.89M | -61.55M | 20.63M | 14.82M | 25.5M | -55.37M | 34.04M |
| Cash from Investing | -136.47M | -143.06M | -148.53M | -187.23M | -227.73M | -261.99M | -88.21M | -221.39M | -665.95M | -107.35M | -568.63M | -173.16M | 443.99M | -98.39M | -645.23M | -570.05M | -760.81M | 141.23M | -2.94M | -15.75M |
| Capital Expenditures | -154.81M | -161.32M | -118.53M | -171.73M | -204.05M | -288.13M | -205.97M | -313.54M | -433.92M | -365.16M | -413.46M | -346.91M | -286.21M | -382.69M | -370.96M | -326.9M | -223.26M | -198.69M | -154.76M | -194.89M |
| CapEx % of Revenue | 12.58% | 15.27% | 11.35% | 10.2% | 12.79% | 26.26% | 24.39% | 20.71% | 48.88% | 36.14% | 52.07% | 29.94% | 35.73% | 47.21% | 67.66% | 32.61% | 35.5% | 32% | 42.16% | 21.48% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.68M | -199K | -35.54M | 274.27M | 78.4M | 99.28M | 262.75M | 1.86M | -300.5M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 28.44M | -7.63M | -15M | -11.35M | -4.05M | 2.35M | 4.65M | -374K | -4.92M | -5M | -2.7M | -9.05M | 0 | 0 | -274.27M | -489K | -2.63M | 60K | 12K | 300.25M |
| Cash from Financing | 69.97M | -391.73M | -72.22M | -243.67M | -222.56M | 446.62M | -99.62M | 30.73M | 21.78M | -68.35M | 40.7M | 60.74M | 59.54M | 108.89M | 107.69M | 99.93M | 83.84M | 119.85M | 5.76M | 49.76M |
| Debt Issued (Net) | 71.01M | -391.51M | -71.67M | -243.34M | -222.25M | 446.77M | -84.07M | 30.81M | 22.81M | -60.63M | 59.65M | 60.77M | 60.39M | 110.83M | 136M | 99.97M | 84.3M | 119.94M | 17.27M | 49.87M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | -43K | -15K | -15.42M | -34K | -996K | -196K | -18.95M | -30K | -853K | -1.93M | -28.31M | -44K | -457K | -86K | -11.51M | -112K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | -43K | -15K | -15.42M | -34K | -996K | -196K | -18.95M | -30K | -853K | -1.93M | -28.31M | -44K | -457K | -86K | -11.51M | -112K |
| Other Financing | -1.04M | -224K | -553K | -329K | -261K | -137K | -129K | -45K | -41K | -7.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -109.59M | -673.84M | -437.66M | 812.07M | 821.88M | 336.06M | -794.2M | 616.76M | -697.78M | 13.65M | -262.15M | 454.83M | 665.65M | -78.22M | -570.64M | 332.66M | -548.05M | 373.87M | -120.86M | 69.96M |
| Free Cash Flow | -197.76M | -306.22M | -333.39M | 1.07B | 1.07B | -138.56M | -813.95M | 497.46M | -487.65M | -172.15M | -145.73M | 214.2M | -120.78M | -472.37M | -405.56M | 468.31M | -94.28M | -110.67M | -293.6M | -160.43M |
| FCF Margin % | -16.07% | -28.99% | -31.93% | 63.59% | 67.06% | -12.63% | -96.37% | 32.86% | -54.94% | -17.04% | -18.35% | 18.49% | -15.08% | -58.27% | -73.97% | 46.72% | -14.99% | -17.82% | -79.99% | -17.68% |
| FCF Growth % | -118.49% | -121.01% | 59.04% | 115.13% | 319.33% | 19.51% | -458.52% | 132.24% | -303.75% | 63.56% | 64.07% | -54.26% | -28.11% | -326.83% | -38.13% | 391.92% | -167.01% | -227.76% | 20.57% | -265.44% |
| FCF per Share | -1.84 | -2.84 | -3.10 | 9.94 | 9.95 | -1.29 | -7.58 | 4.62 | -4.53 | -1.60 | -1.36 | 1.99 | -1.12 | -4.40 | -3.78 | 4.39 | -0.88 | -1.03 | -2.76 | -1.50 |
| FCF Conversion (FCF/Net Income) | -0.08x | -0.34x | -0.62x | 2.38x | 2.79x | 0.44x | -2.90x | 2.06x | -0.17x | 0.55x | 1.13x | 1.61x | 0.62x | -0.53x | -0.81x | -105.35x | -2.62x | 1.58x | 3.21x | 0.26x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |