First Solar, Inc. (FSLR) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FSLR Revenue Growth
Revenue Breakdown (FY 2025)
FSLR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FSLR Revenue Analysis (2014–2025)
As of May 7, 2026, First Solar, Inc. (FSLR) generated trailing twelve-month (TTM) revenue of $5.42 billion, reflecting exceptional growth of +23.6% year-over-year. The most recent quarter (Q1 2026) recorded $1.04 billion in revenue, down 37.9% sequentially.
Looking at the longer-term picture, FSLR's 5-year compound annual growth rate (CAGR) stands at +14.0%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $5.22 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows FSLR's business is primarily driven by Solar Module (100%). With over half of revenue concentrated in Solar Module, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including CSIQ (-6.6% YoY), JKS (-32.7% YoY), and ARRY (+13.2% YoY), FSLR has outperformed the peer group in terms of revenue growth. Compare FSLR vs CSIQ →
FSLR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FSLRCurrent | $5.4B | +23.6% | +14.0% | 32.3% | |
 CSIQ | $5.6B | -6.6% | +10.0% | -0.5% | |
 JKS | $63.7B | -32.7% | +12.6% | -11.1% | |
 ARRY | $1.3B | +13.2% | +8.0% | 6.6% | |
 MAXN | $509M | -78.7% | -15.7% | -113.3% | |
 ENPH | $1.5B | -1.6% | +13.7% | 11.2% |
FSLR Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $5.22B | +24.1% | $2.12B | 40.6% | $1.68B | 32.3% |
| 2024 | $4.21B | +26.7% | $1.86B | 44.2% | $1.39B | 33.2% |
| 2023 | $3.32B | +26.7% | $1.30B | 39.2% | $857.3M | 25.8% |
| 2022 | $2.62B | -10.4% | $69.9M | 2.7% | $-27,236,000 | -1.0% |
| 2021 | $2.92B | +7.8% | $730.0M | 25.0% | $586.8M | 20.1% |
| 2020 | $2.71B | -11.5% | $680.7M | 25.1% | $317.5M | 11.7% |
| 2019 | $3.06B | +36.5% | $549.2M | 17.9% | $-161,785,000 | -5.3% |
| 2018 | $2.24B | -23.7% | $392.2M | 17.5% | $40.1M | 1.8% |
| 2017 | $2.94B | +1.3% | $548.9M | 18.7% | $177.9M | 6.0% |
| 2016 | $2.90B | -29.4% | $638.4M | 22.0% | $-568,151,000 | -19.6% |
Full FSLR Stock Analysis
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Start ComparisonFSLR — Frequently Asked Questions
Quick answers to the most common questions about buying FSLR stock.
Is FSLR's revenue growth accelerating or slowing?
FSLR revenue is accelerating at +23.6% year-over-year, exceeding the 5-year CAGR of +14.0%. TTM revenue reached $5.4B. Growth momentum has increased versus prior periods.
What is FSLR's long-term revenue growth rate?
First Solar, Inc.'s 5-year revenue CAGR of +14.0% reflects the sustained expansion pattern. Current YoY growth of +23.6% is above this long-term average.
How is FSLR's revenue distributed by segment?
FSLR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.