First Solar, Inc. (FSLR)FSLRFirst Solar, Inc.

Cash Flow Statement

Operating, investing, and financing cash flow analysis

Quarterly Cash Flow Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Cash from Operations (CFO)	2.450B	-214.866M	1.242B	1.274B	149.577M	-607.982M	810.996M	-53.734M	193.014M
Net Income	1.665B	346.619M	520.883M	455.943M	341.868M	209.535M	393.116M	312.956M	349.356M
Depreciation & Amortization	550.733M	147.393M	140.631M	138.062M	124.647M	125.876M	124.419M	111.158M	97.337M
Stock-Based Compensation	23.420M	6.781M	2.510M	7.319M	6.810M	2.584M	6.117M	6.796M	8.400M
Change in Accounts Receivable	5.863B	1.374B	1.294B	1.442B	1.753B	1.627B	1.283B	783.938M	669.365M
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	607.974M	-533.036M	833.775M	630.630M	-323.395M	-959.362M	246.651M	-459.288M	-235.177M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-782.438M	-118.529M	-171.727M	-204.048M	-288.134M	-205.966M	-313.539M	-433.919M	-365.162M
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-278K	-174K	-46K	-43K	-15K	-15.421M	-34K	-996K	-196K
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	1.668B	-333.395M	1.070B	1.070B	-138.557M	-813.948M	497.457M	-487.653M	-172.148M
Net Change in Cash	1.532B	-437.662M	812.067M	821.881M	336.063M	-794.203M	616.756M	-697.783M	13.654M

Annual Cash Flow Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Cash from Operations (CFO)	2.057B	1.218B	602.260M	873.369M	237.559M	37.120M	174.201M	-326.809M
Net Income	1.528B	1.292B	830.777M	-44.166M	468.693M	398.355M	-114.933M	144.326M
Depreciation & Amortization	529.216M	423.498M	307.994M	269.724M	259.900M	232.925M	205.475M	130.736M
Stock-Based Compensation	19.223M	28.104M	34.219M	28.656M	20.902M	29.267M	37.429M	34.154M
Change in Accounts Receivable	1.294B	1.283B	682.576M	324.337M	454.709M	292.759M	682.385M	586.448M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	127.649M	-483.120M	-526.664M	998.638M	-336.705M	-562.452M	225.279M	-326.343M
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-869.875M	-1.526B	-1.387B	-903.605M	-540.291M	-416.635M	-668.717M	-739.838M
Acquisitions	0.00	0.00	-28.059M	442.302M	300.499M	0.00	0.00	247.595M
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-15.525M	-20.178M	-31.130M	-12.092M	-15.989M	-13.118M	-16.089M	-11.175M
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	1.187B	-308.077M	-784.515M	-30.236M	-302.732M	-379.515M	-494.516M	-1.067B
Net Change in Cash	1.176B	-326.846M	471.607M	37.625M	182.243M	-172.916M	-116.113M	-767.853M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About First Solar, Inc.

First Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company's primary activity involves the engineering, manufacturing, and sale of cadmium telluride solar modules, which are designed to convert solar radiation directly into electricity. Its clientele is broad, serving system developers and operators, utility companies, independent power producers, commercial and industrial businesses, and various other system owners. Founded in 1999, the firm is based in Tempe, Arizona, and underwent a name change in 2006 from its former designation, First Solar Holdings, Inc.

Phoenix, AZ

8,100 employees

www.firstsolar.com

Energy / Solar

Sector: Energy
Industry: Solar
CEO: Mark R. Widmar

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