First Solar, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.53B | $1.29B | $830.8M | $-44.2M | $468.7M | $398.4M | $-114.9M | $144.3M |
| Depreciation & Amortization | $529.2M | $423.5M | $308.0M | $269.7M | $259.9M | $232.9M | $205.5M | $130.7M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $4.1M | $10.5M | $10.5M | $10.9M | $10.9M | $10.8M | $10.2M | $9.9M |
| Stock-Based Compensation | $19.2M | $28.1M | $34.2M | $28.7M | $20.9M | $29.3M | $37.4M | $34.2M |
| Net Cash from Operating Activities | $2.06B | $1.22B | $602.3M | $873.4M | $237.6M | $37.1M | $174.2M | $-326.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $869.9M | $1.53B | $1.39B | $903.6M | $540.3M | $416.6M | $668.7M | $739.8M |
| Business Acquisitions | $0 | $0 | $35.7M | $0 | $0 | — | — | — |
| Net Cash from Investing Activities | $-765.2M | $-1.56B | $-472.8M | $-1.19B | $-99.0M | $-131.2M | $-362.3M | $-682.7M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-119.2M | $24.8M | $336.9M | $309.4M | $40.6M | $-82.6M | $74.9M | $255.2M |
| Net Change in Cash | — | $-326.8M | $471.6M | $37.6M | $182.2M | $-172.9M | $-116.1M | $-767.9M |
| Free Cash Flow | $1.19B | $-308.1M | $-784.5M | $-30.2M | $-302.7M | $-379.5M | $-494.5M | $-1.07B |