SuperworthFirst Solar profit margin FSLR
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 32.5%
- Operating margin, 12 months
- 33.6%
- Net margin on a year earlier
- +3.5 pts
- Peer median
- 20.8%
Over the twelve months to Jun 30, 2026, First Solar kept 32.5% of its revenue as net profit, with an operating margin of 33.6% and a gross margin of 44.0%.
Five years earlier its net margin was 19.0%.
The median for 10 energy stocks of a similar size is 20.8%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 29.3% | 30.6% | 40.6% |
| FY2024 | 30.7% | 33.2% | 44.2% |
| FY2023 | 25.0% | 25.8% | 39.2% |
| FY2022 | −1.7% | −1.0% | 2.7% |
| FY2021 | 16.0% | 20.1% | 25.0% |
| FY2020 | 14.7% | 11.7% | 25.1% |
| FY2019 | −3.8% | −5.3% | 17.9% |
| FY2018 | 6.4% | 1.8% | 17.5% |
| FY2017 | −5.6% | 6.0% | 18.7% |
| FY2016 | −14.3% | −19.6% | 22.0% |
| FY2015 | 15.3% | 14.4% | 25.7% |
| FY2014 | 11.7% | 12.5% | 24.4% |
| FY2013 | 10.7% | 11.1% | 26.1% |
| FY2012 | −2.9% | −1.1% | 25.3% |
| FY2011 | −1.4% | −2.5% | 35.1% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 32.5% | +3.5 pts | 33.6% | |
| Q1 FY26 | 30.7% | +1.0 pts | 31.8% | |
| Q4 FY25 | 29.3% | −1.4 pts | 30.6% | |
| Q3 FY25 | 27.7% | −4.7 pts | 29.8% | |
| Q2 FY25 | 29.0% | −3.0 pts | 31.3% | |
| Q1 FY25 | 29.7% | +1.0 pts | 32.2% | |
| Q4 FY24 | 30.7% | +5.7 pts | 33.2% | |
| Q3 FY24 | 32.4% | +17.4 pts | 34.7% | |
| Q2 FY24 | 32.0% | +26.7 pts | 34.2% | |
| Q1 FY24 | 28.8% | +27.3 pts | 30.4% | |
| Q4 FY23 | 25.0% | +26.7 pts | 25.8% | |
| Q3 FY23 | 15.0% | +11.2 pts | 13.1% |
Against its peers
Companies in Energy nearest First Solar's size, closest first, today.
| Company | Profit margin |
|---|---|
| FSLRFirst Solar | 32.5% |
| WESWestern Midstream Partners | 29.6% |
| APAAPA | 21.1% |
| OVVOvintiv | 9.4% |
| VNOMViper Energy | 2.9% |
| PRPermian Resources | 21.5% |
| EXEExpand Energy | 20.5% |
| DINOHF Sinclair | 6.1% |
| TPLTexas Pacific Land | 60.3% |
| DTMDT Midstream | 35.7% |
| FTITechnipFMC | 11.3% |
| Peer median | 20.8% |
Where First Solar ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on First Solar
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.