Companies: 10,795·Total market cap: $144.5T
First Solar, Inc.

First Solar, Inc.

FSLRNASDAQEnergy● Active
$279.01
$-35.94(-11.41%)
Market Cap$30.0B
P/E Ratio—
52W High$320.95
52W Low$135.5
Overview

First Solar, Inc. (FSLR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FSLR · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was $1.19B for FY2025 (fiscal year ending 2025-12-31), up 485.4% year-over-year The FCF margin was 22.8%.

FY2025 Free Cash Flow$1.19B▲ +485.4% YoY
Trailing 12M (TTM)$1.67Btrailing 4 quarters sum
FCF Margin22.8%$1.19B ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
fslr free cash flow history · fslr free cash flow chart · fslr free cash flow growth rate · fslr free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest$1.19B▲ +485.4%22.8%
FY2024−$308.1M▲ +60.7%-7.3%
FY2023−$784.5M▼ 2494.6%-23.6%
FY2022−$30.2M▲ +90.0%-1.1%
FY2021−$302.7M▲ +20.2%-10.4%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
fslr free cash flow 2025 · fslr free cash flow 2024 · fslr free cash flow 2023 · fslr operating cash flow

FCF valuation metrics

First Solar, Inc. (FSLR) trades at a FCF yield of 5.56% and a price-to-free-cash-flow ratio of 17.9x. FCF per share stands at $15.55, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
5.56%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$15.55
TTM FCF ÷ Shares Outstanding
Price / FCF
x17.9
Share Price ÷ FCF per Share
EV / FCF (TTM)
x16.8
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
fslr price to free cash flow · fslr free cash flow yield · fslr free cash flow per share · fslr price to cash flow ratio

Cash flow statement summary

For FY2025, First Solar, Inc. generated $2.06B in operating cash flow and spent 870M in capital expenditures, yielding $1.19B in free cash flow.

Operating Activities
+$2.06B
Cash from core business operations
2025-12-31
Investing Activities
−$765.2M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
−$119.2M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($2.06B) − |CapEx| (870M) = FCF ($1.19B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
fslr cash flow statement · fslr cash flow statement 2025 · fslr operating cash flow · fslr cash flow from operations

Free cash flow vs peers (Energy)

#CompanyFree Cash FlowYoY
#1
First Solar, Inc.
First Solar, Inc.YOU
FSLR
$1.19B+485.4%
#2
Exxon Mobil Corporation
Exxon Mobil Corporation
XOM
$23.61B-23.1%#3
Shell plc
Shell plc
SHEL
$21.82B-37.8%#4
Chevron Corporation
Chevron Corporation
CVX
$16.59B+10.3%#5
TotalEnergies SE
TotalEnergies SE
TTE
$10.81B-32.2%#6
Enbridge Inc.
Enbridge Inc.
ENB.TO
$3.98B-29.8%
Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

First Solar, Inc. (FSLR) reported free cash flow of $1.19B for FY2025 (fiscal year ending 2025-12-31), up 485.4% year-over-year. The FCF margin was 22.8%.

Based on available data, First Solar, Inc. has maintained positive free cash flow for at least 5 fiscal year(s). FCF peaked at $1.19B in FY2025.

First Solar, Inc.'s FCF yield is 5.56% and price-to-FCF ratio is 17.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

FSLR free cash flow · 8 questions

First Solar, Inc. free cash flow was $1.19B for FY2025, up 485.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.67B.

FSLR free cash flowFSLR FCFFSLR FCF 2025FSLR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · First Solar, Inc. · First Solar, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026