First Solar, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.22B | $4.21B | $3.32B | $2.62B | $2.92B | $2.71B | $3.06B | $2.24B |
| Cost of Revenue | $3.10B | $2.35B | $2.02B | $2.55B | $2.19B | $2.03B | $2.51B | $1.85B |
| Gross Profit | $2.12B | $1.86B | $1.30B | $69.9M | $730.0M | $680.7M | $549.2M | $392.2M |
| Gross Margin | 40.6% | 44.2% | 39.2% | 2.7% | 25.0% | 25.1% | 17.9% | 17.5% |
| Operating Expenses | ||||||||
| Research & Development | $233.4M | $191.4M | $152.3M | $112.8M | $99.1M | $93.7M | $96.6M | $84.5M |
| SG&A Expense | $203.8M | $188.3M | $197.6M | $164.7M | $170.3M | $222.9M | $205.5M | $176.9M |
| Operating Income | $1.60B | $1.39B | $857.3M | $-27.2M | $586.8M | $317.5M | $-161.8M | $40.1M |
| Operating Margin | 30.6% | 33.2% | 25.8% | -1.0% | 20.1% | 11.7% | -5.3% | 1.8% |
| Interest Expense | — | — | $13.0M | $12.2M | $13.1M | $24.0M | $27.1M | $25.9M |
| Pretax Income | $1.58B | $1.41B | $891.3M | $8.6M | $572.2M | $293.2M | $-120.1M | $113.1M |
| Income Tax Expense | $52.7M | $114.3M | $60.5M | $52.8M | $103.5M | $-107.3M | $-5.5M | $3.4M |
| Net Income | $1.53B | $1.29B | $830.8M | $-44.2M | $468.7M | $398.4M | $-114.9M | $144.3M |
| Net Margin | 29.3% | 30.7% | 25.0% | -1.7% | 16.0% | 14.7% | -3.8% | 6.4% |
| EPS (Basic) | $14.25 | $12.07 | $7.78 | $-0.41 | $4.41 | $3.76 | $-1.09 | $1.38 |
| EPS (Diluted) | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 | $-1.09 | $1.36 |
| Shares Outstanding (Basic) | 107.2M | 107.0M | 106.8M | 106.6M | 106.3M | 105.9M | 105.3M | 104.7M |
| Shares Outstanding (Diluted) | 107.5M | 107.5M | 107.4M | 106.6M | 106.9M | 106.7M | 105.3M | 106.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |