FSLR First Solar margins

Relative Growth: Rel. Growth: 80

Relative Strength: Rel. Strength: 19

Relative Valuation: Rel. Valuation: 87

Relative Profitability: Rel. Profitability: 86

Gross margin

44%

Operating margin

33.6%

EBITDA margin

45.3%

Net margin

32.5%

Using the latest TTM figures, First Solar shows a gross margin of 44%, an operating margin of 33.6%, an EBITDA margin of 45.3%, and a net margin of 32.5%. Net margin had the largest improvement, gaining by 3.5 percentage points, while the other available margins also increased.

FSLR margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, First Solar recorded average margins of 42.86% gross, 31.51% operating, 42.59% EBITDA, and 29.8% net. The current gross, operating, EBITDA, and net margins are all above their three-year averages.

FSLR margin expansion

Year-over-year margin changes in percentage points

The biggest expansion was in net margin, which rose by 3.5 percentage points. The other available margins also improved.

Gross margin expansion

1.2pp

Operating margin expansion

2.3pp

EBITDA margin expansion

2.4pp

Net margin expansion

3.5pp

FSLR Gross margin

The average gross margin for First Solar was 42.86% over the last 3 years. As of the latest period, the current gross margin for First Solar is 44%, 1.1 percentage points above its three-year average. The gross margin for First Solar moved between 39.2% in Dec 2023 and 46.5% in Sep 2024.

FSLR Operating margin

Looking at the last 3 years, First Solar had an average operating margin of 31.51%. Against its three-year average, First Solar's operating margin is currently 33.6%, 2.1 percentage points above its three-year average. Looking back over the last 3 years, First Solar's operating margin reached 34.5% at its highest point in Sep 2024 and 25.6% at its lowest in Dec 2023.

FSLR EBITDA margin

Across the last 3 years, First Solar recorded an average EBITDA margin of 42.59%. Right now, the current EBITDA margin for First Solar is 45.3%, 2.7 percentage points above its three-year average. The highest EBITDA margin for First Solar was 45.7% in Sep 2024, while the lowest was 36.5% in Dec 2023.

FSLR Net margin

Over the last 3 years, First Solar's net margin averaged 29.8%. The current net margin of 32.5% is 2.7 percentage points above its three-year average. During this period, net margin reached a high of 32.5% in Jun 2026 and a low of 25% in Dec 2023.

FSLR margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 44%, FSLR stands above the industry average but below the Technology sector average. In comparison with its Technology sector average of 52.1%, First Solar's gross margin is 16% lower.

FSLR margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is First Solar's gross margin?

The current gross margin for FSLR is 44% as of Jun 30, 2026.

What is First Solar's operating margin?

For the period ending Jun 30, 2026, FSLR recorded an operating margin of 33.6%.

What is First Solar's EBITDA margin?

The current EBITDA margin for FSLR is 45.3% as of Jun 30, 2026.

What is First Solar's net margin?

As of Jun 30, 2026, FSLR has a net margin of 32.5%.

What are the average margins of FSLR?

Across the last 3 years, FSLR averaged 42.9% gross, 31.5% operating, 42.6% EBITDA, and 29.8% net.

What are the highest historical margins of FSLR?

Across the 5-year period, FSLR posted its highest margins at 46.5% gross in Sep 2024, 34.5% operating in Sep 2024, 45.7% EBITDA in Sep 2024, and 32.5% net in Jun 2026.

What are the lowest historical margins of FSLR?

First Solar's lowest recorded margins during the past 5 years were 2.7% gross in Dec 2022, -10.7% operating in Dec 2022, 11.1% EBITDA in Dec 2022, and -1.7% net in Dec 2022.