FSLR First Solar margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 89

Gross margin

49.3%

Operating margin

37.7%

EBITDA margin

50.7%

Net margin

37.1%

Using the latest TTM figures, First Solar shows a gross margin of 49.3%, an operating margin of 37.7%, an EBITDA margin of 50.7%, and a net margin of 37.1%. EBITDA margin had the largest improvement, gaining by 10.6 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 43.4% gross, 32.03% operating, 43.24% EBITDA, and 30.41% 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 EBITDA margin, which rose by 10.6 percentage points. The other available margins also improved.

Gross margin expansion

9.3pp

Operating margin expansion

7.9pp

EBITDA margin expansion

10.6pp

Net margin expansion

9.4pp

FSLR Gross margin

The average gross margin for First Solar was 43.4% over the last 3 years. As of the latest period, the current gross margin for First Solar is 49.3%, 5.9 percentage points above its three-year average. The gross margin for First Solar moved between 39.2% in Dec 2023 and 49.3% in Sep 2026.

FSLR Operating margin

Looking at the last 3 years, First Solar had an average operating margin of 32.03%. Against its three-year average, First Solar's operating margin is currently 37.7%, 5.7 percentage points above its three-year average. Looking back over the last 3 years, First Solar's operating margin reached 37.7% at its highest point in Sep 2026 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 43.24%. Right now, the current EBITDA margin for First Solar is 50.7%, 7.5 percentage points above its three-year average. The highest EBITDA margin for First Solar was 50.7% in Sep 2026, while the lowest was 36.5% in Dec 2023.

FSLR Net margin

Over the last 3 years, First Solar's net margin averaged 30.41%. The current net margin of 37.1% is 6.7 percentage points above its three-year average. During this period, net margin reached a high of 37.1% in Sep 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 49.3%, FSLR stands above the industry average but below the Technology sector average. In comparison with its Technology sector average of 52.5%, First Solar's gross margin is 6% 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 49.3% as of Sep 30, 2026.

What is First Solar's operating margin?

For the period ending Sep 30, 2026, FSLR recorded an operating margin of 37.7%.

What is First Solar's EBITDA margin?

The current EBITDA margin for FSLR is 50.7% as of Sep 30, 2026.

What is First Solar's net margin?

As of Sep 30, 2026, FSLR has a net margin of 37.1%.

What are the average margins of FSLR?

Across the last 3 years, FSLR averaged 43.4% gross, 32.0% operating, 43.2% EBITDA, and 30.4% net.

What are the highest historical margins of FSLR?

Across the 5-year period, FSLR posted its highest margins at 49.3% gross in Sep 2026, 37.7% operating in Sep 2026, 50.7% EBITDA in Sep 2026, and 37.1% net in Sep 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.