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FSLR on Nasdaq

First Solar

Logo: https://s2.q4cdn.com/646275317/files/doc_event/2019/First-Solar-Inc.-2018-Annual-Report-Web-Posting.pdf, Non-free logo, via Wikipedia5

American solar power company

First Solar, Inc. is an American publicly traded manufacturer of solar panels. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor. The predecessor company, Solar Cells, Inc., was founded in 1990 by inventor Harold McMaster.3 Its shares trade on Nasdaq under the symbol FSLR.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1999Founded1

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  • TickerFSLR on Nasdaq1
  • IndustryNatur-Aktien-Index, photovoltaics1
  • HeadquartersTempe1
  • Websitewww.firstsolar.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address4300 E Camelback Road, Suite 220, Phoenix, Az 850186
  • Filer categoryLarge accelerated filer6
  • LEI549300NPYMLM4NHTOF274
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 36586764

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First Solar, Inc. is an American publicly traded manufacturer of solar panels. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

40.6%Gross margin9
30.6%Operating margin9
29.3%Net margin9
24.1%Revenue growth, 20259
16.0%Return on equity9
0.03×Debt to equity9
$1.2BFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 96% of the revenue First Solar broke down this way in fiscal 2025.

  1. United States$5.0B996%up 28% from 2024
  2. India$195.6M94%down 3% from 2024
  3. All other foreign countries$22.8M90%down 65% from 2024
  4. France$6.3M90%down 82% from 2024
Regions by year
Regions202320242025
United States$3.2B$3.9B$5.0B
India$10.9M$201.7M$195.6M
All other foreign countries$51.8M$65.4M$22.8M
France$68.3M$34.4M$6.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue59¢$3.1B
  • Research and development4¢$233.4M
  • Selling, general and admin4¢$203.8M
  • Other costs2¢$102.2M
  • Income tax1¢$52.7M
  • Profit29¢$1.5B

Out of $5.2B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending42¢$869.9M
  • Kept or used elsewhere58¢$1.2B

Out of $2.1B of cash from operations.9

Financial statements

Revenue101112139$5.2B in 2025+70% since 2019
0$2.0B$4.0B$6.0B2019: $3.1B$3.1B20192020: $2.7B$2.7B2020−11%2021: $2.9B$2.9B2021+8%2022: $2.6B$2.6B2022−10%2023: $3.3B$3.3B2023+27%2024: $4.2B$4.2B2024+27%2025: $5.2B$5.2B2025+24%
Gross profit101112139$2.1B in 2025+286% since 2019
0$1.0B$2.0B$3.0B2019: $549.2M$549.2M20192020: $680.7M$680.7M2020+24%2021: $730.0M$730.0M2021+7%2022: $69.9M$69.9M2022−90%2023: $1.3B$1.3B2023+1762%2024: $1.9B$1.9B2024+43%2025: $2.1B$2.1B2025+14%
Operating income101112139$1.6B in 2025
-$500.0M0$500.0M$1.0B$1.5B$2.0B2019: -$161.8M-$161.8M20192020: $317.5M$317.5M20202021: $586.8M$586.8M2021+85%2022: -$27.2M-$27.2M20222023: $857.3M$857.3M20232024: $1.4B$1.4B2024+63%2025: $1.6B$1.6B2025+15%
Net income101112139$1.5B in 2025
-$500.0M0$500.0M$1.0B$1.5B$2.0B2019: -$114.9M-$114.9M20192020: $398.4M$398.4M20202021: $468.7M$468.7M2021+18%2022: -$44.2M-$44.2M20222023: $830.8M$830.8M20232024: $1.3B$1.3B2024+56%2025: $1.5B$1.5B2025+18%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Net sales$5.2B$4.2B$3.3B
Cost of sales$3.1B$2.3B$2.0B
Gross profit$2.1B$1.9B$1.3B
Selling, general and administrative$203.8M$188.3M$197.6M
Research and development$233.4M$191.4M$152.3M
Production start-up$86.3M$84.5M$64.8M
Litigation loss$0$430.0K$35.6M
Total operating expenses$523.5M$464.6M$450.3M
Gain on sales of businesses, net$0$1.1M$6.9M
Operating income$1.6B$1.4B$857.3M
Foreign currency loss, net-$38.6M-$25.0M-$21.5M
Interest income$81.8M$89.1M$97.7M
Interest Expense, net-$44.1M-$38.9M-$13.0M
Other expense, net-$15.0M-$13.3M-$29.1M
Income before taxes$1.6B$1.4B$891.3M
Income tax expense-$52.7M-$114.3M-$60.5M
Net income$1.5B$1.3B$830.8M
Basic$14.25$12.07$7.78
Diluted$14.21$12.02$7.74
Basic107.2M shares107.0M shares106.8M shares
Diluted107.5M shares107.5M shares107.4M shares

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Corporate structure

First Solar sits at the top of its group. 11 entities, 9 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of First Solar

  • First Solar Phoenix, Arizona, United States
    • FS INDIA SOLAR VENTURES PRIVATE LIMITED Subsidiary · 100% · Kanchipuram, India
    • FIRST SOLAR DEVELOPMENT (CANADA), INC. Subsidiary · Calgary, Alberta, Canada
    • First Solar FE Holdings Pte. Ltd. Subsidiary · Singapore
    • FIRST SOLAR HOLDINGS GMBH Subsidiary · Frankfurt, Germany
    • First Solar Malaysia Sdn. Bhd. Subsidiary · Malaysia
    • FIRST SOLAR SINGAPORE HOLD CO PTE. LTD. Subsidiary · Singapore, Singapore
      • FIRST SOLAR FE HOLDINGS PTE. LTD. Subsidiary · Singapore, Singapore
        • FIRST SOLAR (AUSTRALIA) PTY LTD Subsidiary · Sydney, Australia
      • FIRST SOLAR JAPAN GK Subsidiary · Chuo Ku, Japan
    • First Solar Vietnam Manufacturing Co Ltd Subsidiary · Vietnam

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What First Solar reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$8.2B9 Dec 31, 2025$7.5B9 Dec 31, 2024+9.7%
Accumulated depreciation$2.6B9 Dec 31, 2025$2.1B9 Dec 31, 2024+22.3%
Property and equipment, net$5.7B9 Dec 31, 2025$5.4B9 Dec 31, 2024+4.8%
Finance-lease assets$34.3M9 Dec 31, 2025$29.3M9 Dec 31, 2024+17.2%
Operating-lease assets (leased space)$161.8M9 Dec 31, 2025$114.3M9 Dec 31, 2024+41.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.8B9 Dec 31, 2025$1.6B9 Dec 31, 2024+72.9%
Marketable securities, current$51.8M9 Dec 31, 2025$171.6M9 Dec 31, 2024−69.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$31.1M9 Dec 31, 2025$28.3M9 Dec 31, 2024+9.7%
Intangible assets, net (excluding goodwill)$51.0M9 Dec 31, 2025$54.7M9 Dec 31, 2024−6.7%
Accumulated amortization$100.3M9 Dec 31, 2025$96.2M9 Dec 31, 2024+4.2%
Finite-lived intangibles, net$7.8M9 Dec 31, 2025$11.5M13 Dec 31, 2024−31.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$736.7M9 Dec 31, 2025$1.1B9 Dec 31, 2024−32.1%
Raw materials$429.7M9 Dec 31, 2025$489.5M9 Dec 31, 2024−12.2%
Work in process$105.3M9 Dec 31, 2025$115.7M9 Dec 31, 2024−9.0%
Finished goods$439.2M9 Dec 31, 2025$754.5M9 Dec 31, 2024−41.8%

Properties, in its own words

As of December 31, 2025, our principal properties consisted of the following:

Nature · Location · Held

The rest of Item 2

Corporate headquarters · Phoenix, Arizona, United States · Lease

R&D facility · Santa Clara, California, United States · Lease

Manufacturing plants, R&D facilities, and administrative offices · Perrysburg and Lake Township, Ohio, United States · Own

Manufacturing plants · Kulim, Kedah, Malaysia · Lease land, own buildings

Manufacturing plants · Ho Chi Minh City, Vietnam · Lease land, own buildings

Manufacturing plant · Tamil Nadu, India · Lease land, own buildings

Manufacturing plant · Trinity, Alabama, United States · Own

Manufacturing plant · Iberia Parish, Louisiana, United States · Lease land, own buildings

Manufacturing plant (1) · Gaffney, South Carolina, United States · Lease

(1)Manufacturing plant currently under construction; operations are expected to commence in the second half of 2026.

Item 2 of the 10-K filed Feb 24, 2026.17

The story

Founded by Harold McMaster in 1999.1

History

In 1984, inventor and entrepreneur Harold McMaster founded Glasstech Solar. After conducting research on amorphous silicon, he shifted to CdTe and founded Solar Cells, Inc. (SCI) in 1990. In February 1999, SCI was acquired by True North Partners, which then formed First Solar, LLC.

The company is headquartered in Phoenix, Arizona, and has manufacturing facilities in Perrysburg, Ohio; Trinity, Alabama; New Iberia, Louisiana; Kulim, Malaysia; Ho Chi Minh City, Vietnam; and Chennai, India.

At the end of 2009, First Solar had surpassed an energy power production rate of 1 GW and was the largest producer of PV cells in the world. That same year, First Solar became the first solar panel manufacturing company to lower its manufacturing cost to $1 per watt.

In July 2010, First Solar formed a utility systems business group to address the large-scale PV systems solutions market. Utility systems are now the company's core business focus, with a strategy to focus on markets that do not require subsidies to support the solar generation business.

On April 17, 2012, First Solar announced it would restructure operations worldwide. This restructuring process included phasing out operations in Frankfurt (Oder), Germany and idling four production lines in Kulim, Malaysia. Approximately 30% of First Solar's workforce was laid off as a result of these actions, which were blamed on market volatility and reduced demand. Mark Widmar, then the CFO of First Solar, said, "We need to resize our business to a level of demand that is highly reliable and predictable."

On July 1, 2016, Mark Widmar was appointed CEO of First Solar. Previously he had been chief financial officer. Former CEO Mike Ahearn remains chairman of the board.

In 2022, under the Inflation Reduction Act, First Solar became perhaps the biggest beneficiary of an estimated $1 trillion in environmental spending. First Solar executives and lobbyists met at least four times in late 2022 and 2023 with administration officials who oversaw the measure's environmental provisions. Democratic donors had invested heavily in the company prior to the act being signed into law.

In May 2023, First Solar acquired Evolar, a European company that provided perovskite technology. The deal was valued at $38M USD.

Read the full text

In 2024, First Solar communicated an audit had discovered use of forced labor in a Malaysian factory that produces parts for the company.

Market history

Historically, First Solar sold its products to solar project developers, system integrators, and independent power producers. Early sales were primarily in Germany because of strong incentives for solar enacted in the German Renewable Energy Sources Act (EEG) of 2000 (cp. Solar power in Germany). Declines and uncertainty in feed-in-tariff subsidies for solar power in European markets, including Germany, France, Italy and Spain, prompted major PV manufacturers, such as First Solar, to accelerate their expansion into other markets, including the U.S., India and China.

Beginning in December 2011, First Solar shifted away from existing markets that are heavily dependent on government subsidies and toward providing utility-scale PV systems in sustainable markets with immediate need. As a result, it began competing against conventional power generators, and reduced its focus on the rooftop market.

On February 24, 2009, First Solar's cost per watt broke $1 reaching $0.98. In 2023, the company sold 11.4 GW of solar modules. Production costs of 18.8 cents/watt were forecast in February 2024, with average sales prices of 18.2 cent/kWh for sales of around 16 GW in 2024. In 2024, the company sold a record 14.1 GW of solar modules.

First Solar sold $857 million in Inflation Reduction Act transferable tax credits generated from its U.S.-based manufacturing facilities in February 2025. The tax credits were from the sale of solar modules produced in 2024 at First Solar's U.S. manufacturing facilities, including three factories in Ohio and a new Alabama facility.

Production history

Commercial production started in Perrysburg, Ohio, in 2002. Between 2007 and 2012, production grew with additional plants in Frankfurt (Oder) in Germany; and Kulim Hi-Tech Park in Malaysia. The German factories are no longer in operation. Other locations considered for expansions before 2012 included Mesa, Arizona. International expansion has also included new factories in Ho Chim Minh City, Vietnam (commissioned in 2018) and Tamil Nadu, India (2024). Two new manufacturing facilities were commissioned in Ohio (in 2019 and 2023). A new manufacturing facility was commission in Trinity, Alabama, in 2024, followed by a new facility in New Iberia, Louisiana, in 2025. A new finishing facility is expected to open in Gaffney, South Carolina, in the second half of 2026.

From Wikipedia’s article on First Solar, shared under CC BY-SA 4.0.7

Leadership

Who has led First Solar, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert J. Gillette2009–2011
  2. James Alton Hughes2012–2016
  3. Mark R. Widmar2016–now

President

  1. Bruce Sohn2007–2011
  2. Jens Meyerhoff2011
  3. T.l. Kallenbach2011–2012
  4. Georges Antoun2015–2016
  5. Joseph Kishkill2015–2016

Chief financial officer

  1. Jens Meyerhoff2006–2010
  2. James Zhu2011
  3. Mark R. Widmar2011–2016
  4. Alexander R. Bradley2016–now

Chief operating officer

  1. George A. Hambro2006–2008
  2. Georges Antoun2012–2015
  3. Philip Dejong2015–2021
200020052010201520202025
Board members and other officers (48)

Products and brands

Technology

First Solar manufactures cadmium telluride (CdTe)-based photovoltaic (PV) modules, which produce electricity with a thin film CdTe semiconductor. This technology provides superior performance in degradation rate, temperature coefficient, spectral response, and shading response. At each First Solar manufacturing facility, a vertically integrated, continuous process enables full quality control under one roof, converting a sheet of glass into a fully functional solar panel in approximately four hours. First Solar's manufacturing process uses 98 percent less semiconductor material than traditional crystalline silicon solar panels and yields the lowest carbon footprint, lowest water footprint, and fastest energy payback time in the industry.

In 2013, the company produced CdTe-panels with an efficiency of about 14 percent at a reported cost of 59 cents per watt. In August 2019, researchers from NREL and First Solar published a Nature Energy article demonstrating a way to achieve 20.8% solar cell efficiency. Currently, Series 7 TR1 modules, with an efficiency rating of up to 19.7%, represent topline efficiency among First Solar's module lineup.

Market performance

While First Solar witnessed record sales of over $3.37 billion in 2012, its restructuring efforts impacted the bottom line, leading to a net loss of $96.3 million – or $1.11 per share – for the year.

Historically, the low cost of First Solar's modules has been the key to its market performance. The use of cadmium telluride instead of silicon allowed it to achieve a significantly lower module cost ($0.67 per watt), compared to crystalline-silicon PV, which averaged $1.85 per watt in 2010.

Read the full text

As the company shifts its focus away from module sales to utility-scale projects, it will need to become price competitive with non-solar power sources, a move which its executives say will require the company to reduce manufacturing costs and optimize efficiency.

From Wikipedia’s article on First Solar, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • FS India Solar Ventures Private Limited India8
  • First Solar FE Holdings Pte. Ltd. Singapore8
  • First Solar Holdings GmbH Germany8
  • First Solar Malaysia Sdn. Bhd. Malaysia8
  • First Solar Vietnam Manufacturing Co Ltd Vietnam8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • FIRST SOLAR HOLDINGS LLCDec 23, 2003 to Dec 23, 20036

Timeline

  1. Jul 30, 20268-K Results of operations80
  2. May 15, 20268-K Shareholder vote81
  3. Apr 30, 20268-K Results of operations82
  4. Feb 24, 20268-K Results of operations83
  5. Feb 19, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation84
  6. Oct 30, 20258-K Results of operations85
  7. Oct 21, 20258-K Other events86
  8. Jul 31, 20258-K Results of operations87
  9. Jul 30, 20258-K Other events88
  10. Jun 24, 20258-K Other events89
  11. May 16, 20258-K Shareholder vote90
  12. Apr 29, 20258-K Results of operations91
  13. Jul 6, 2016New chief executive Mark R. Widmar becomes CEO18
  14. May 9, 2012New chief executive James Alton Hughes becomes CEO19
  15. Oct 13, 2009New chief executive Robert J. Gillette becomes CEO20
  16. 1999Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $4.24 a share, on Oct 30, 2025.92

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results80
  2. Apr 30, 2026Reported quarterly or annual results82
  3. Feb 24, 2026Reported quarterly or annual results83
  4. Oct 30, 2025Reported quarterly or annual results85
  5. Jul 31, 2025Reported quarterly or annual results87
  6. Apr 29, 2025Reported quarterly or annual results91
  7. Feb 25, 2025Reported quarterly or annual results93
  8. Feb 20, 2025Reported quarterly or annual results94

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

806 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 42 major events, 528 insider forms, 34 large holders, 182 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13G/A EDGAR
  2. Oct 15, 2026SCHEDULE 13G EDGAR
  3. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  5. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  6. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  7. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  8. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  9. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  10. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  11. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  12. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  13. Oct 1, 2026144 EDGAR
  14. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  15. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  16. Sep 1, 2026144 EDGAR
  17. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 17, 2026144 EDGAR
  19. Aug 14, 2026SCHEDULE 13G/A EDGAR
  20. Aug 13, 2026SCHEDULE 13G EDGAR

The 806 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

204 open-market trades by officers, directors and large owners since October 2021: 4 buys and 200 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 1, 2026Gloeckler MarkusChief Technology OfficerSale800$200.00$160.0KForm 4
Aug 17, 2026Sloan Samantha L.EVP, Corporate AffairsSale127$222.95$28.3KForm 4
Aug 11, 2026Dymbort Jason E.General Counsel and SecretarySale3,700$249.38$922.7KForm 4
Aug 4, 2026Gloeckler MarkusChief Technology OfficerSale829$248.00$205.6KForm 4
Aug 3, 2026Gloeckler MarkusChief Technology OfficerSale3,425$218.95$749.9KForm 4
Aug 3, 2026Koralewski MichaelChief Supply Chain OfficerSale7,000$221.51$1.6MForm 4
Jun 2, 2026Buehler Patrick JamesChief Product OfficerSale3,000$302.00$906.0KForm 4
May 28, 2026Stockdale CarolineChief People and Comm. OfficerSale10,628$275.60$2.9MForm 4
May 26, 2026Widmar Mark RChief Executive OfficerSale5,195$268.98$1.4MForm 4
May 22, 2026Widmar Mark RChief Executive OfficerSale1,977$254.15$502.5KForm 4
May 21, 2026Verma Kuntal KumarChief Manufacturing OfficerSale582$250.00$145.5KForm 4
May 21, 2026Widmar Mark RChief Executive OfficerSale4,815$247.43$1.2MForm 4
May 13, 2026Widmar Mark RChief Executive OfficerSale1,300$240.02$312.0KForm 4
May 13, 2026Verma Kuntal KumarChief Manufacturing OfficerSale1,455$240.00$349.2KForm 4
May 11, 2026Widmar Mark RChief Executive OfficerSale9,926$233.21$2.3MForm 4
May 11, 2026Verma Kuntal KumarChief Manufacturing OfficerSale2,216$225.79$500.4KForm 4
May 6, 2026Verma Kuntal KumarChief Manufacturing OfficerSale270$218.16$58.9KForm 4
May 6, 2026Theurer Nathan B.VP - Global Controller and CAOSale31$218.16$6.8KForm 4
May 6, 2026Dymbort Jason E.General Counsel and SecretarySale228$218.16$49.7KForm 4
May 5, 2026ANTOUN GEORGESChief Commercial OfficerSale566$215.63$122.0KForm 4

All 204 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Mark R. Widmar60$1.0M$8.1M107
2025Alexander R. Bradley$549.4K$2.9M107
2025Kuntal Kumar Verma$478.8K$2.6M107
2025George J. Antoun$608.8K$2.5M107
2025Jason Dymbort$475.8K$2.4M107
2024Chief Executive Officer$1.0M$6.4M107
2024Chief Financial Officer$541.2K$2.2M107
2024Chief Manufacturing Officer$470.3K$2.1M107
2024Chief Commercial Officer$607.8K$2.0M107
2024General Counsel & Secretary$467.3K$1.8M107
2023Chief Executive Officer$965.0K$7.7M107
2023Chief Financial Officer$519.5K$3.1M107
2023General Counsel & Secretary$440.7K$2.9M107
2023Chief Manufacturing Officer$433.7K$2.9M107
2023Chief Commercial Officer$598.6K$2.5M107

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$15.3M 2021–2025
Money received by yearMoney received by year, 2021–2025: $15.3M in all. Federal grants $15.3M.$0$2.5M$5M$7.5M$10M2021 · Federal grants: $2.1M202120222023 · Federal grants: $8.0M202320242025 · Federal grants: $5.2M2025
Figures by year
YearFederal grantsTotal
2025$5.2M$5.2M
2023$8.0M$8.0M
2021$2.1M$2.1M

Federal awards

Obligated amounts from USAspending.gov108, by calendar year, 2021–2025, for its registration. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest grants

  1. Oct 1, 2023$8.0M from Department of Energy: Renewable Energy Research And Development109 To FIRST SOLAR, INC. Award DEEE0010479
  2. Feb 1, 2025$5.2M from Department of Energy: Renewable Energy Research And Development110 To FIRST SOLAR, INC. Award DEEE0011420
  3. Sep 1, 2021$628.3K from Department of Energy: Renewable Energy Research And Development111 To FIRST SOLAR, INC. Award DEEE0009528

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.14,029,065$3.3B0.0%+207,989
Vanguard Capital Management LLC6,836,941$1.6B0.0%+48,007
Vanguard Portfolio Management LLC5,638,446$1.3B0.1%−58,442
State Street Corp5,576,026$1.3B0.0%+291,409
Capital World Investors4,114,639$970.9M0.1%New
Geode Capital Management, LLC3,109,602$733.1M0.0%+2,776
Hill City Capital, LP2,628,130$620.1M14.5%+450,590
Invesco Ltd.2,599,470$613.4M0.0%−57,315
Fmr LLC2,179,215$514.2M0.0%+370,782
Morgan Stanley1,790,509$422.5M0.0%+108,107
Amundi1,730,693$408.3M0.1%−318,772
Norges Bank1,598,543$377.2M0.0%New
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC1,535,836$362.4M0.1%+100,694
Dimensional Fund Advisors LP1,358,967$320.6M0.1%+53,496
D. E. Shaw & Co., Inc.1,319,431$311.3M0.2%+1,260,255
BNP PARIBAS ASSET MANAGEMENT Holding S.A.1,301,884$307.2M0.3%−379,961
Clean Energy Transition LLP1,278,237$301.6M21.0%−148,350
Northern Trust Corp1,264,724$298.4M0.0%−125,905
UBS Group AG1,215,007$286.7M0.0%+9,189
Jpmorgan Chase & Co1,185,601$276.0M0.0%−1,118,438
Pictet Asset Management Holding SA1,144,045$269.9M0.3%+5,572
Samlyn Capital, LLC1,045,479$246.7M4.1%+534,548
Schroder Investment Management Group924,499$218.1M0.2%−94,327
Deutsche Bank Ag\901,111$212.6M0.1%−198,888
Hsbc Holdings PLC806,256$190.3M0.1%+139,280

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

19 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 13, 2026John BoozmanRepublican, SenateBuy$1,001 - $15,000−19.3%Report
Mar 27, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−27.7%Report
Feb 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000+32.5%Report
Jan 9, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−36.3%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+6.9%Report
Mar 19, 2025Dave MinDemocratic, HouseSale$1,001 - $15,000−2.2%Report
Feb 25, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+8.6%Report
Feb 1, 2024Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+36.9%Report
Oct 16, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−58.8%Report
Sep 15, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+71.3%Report
Jul 14, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−78.3%Report
Jun 13, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+85.5%Report
May 12, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−110.3%Report
Apr 24, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−101.9%Report
Apr 19, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−104.4%Report
Apr 6, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−101.2%Report
Apr 9, 2021Sara JacobsDemocratic, HouseSale$15,001 - $50,000−37.0%Report
Feb 19, 2021Sara JacobsDemocratic, HousePartial sale$1,001 - $15,000+1.3%Report
Apr 30, 2020Peter WelchDemocratic, HouseSale$1,001 - $15,000−140.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How First Solar is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFIRST SOLAR, INC.2
  • CIK0001274494
  • Employer ID (EIN)20-462367817
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)3674 Semiconductors & Related Devices2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address4300 E Camelback Road, Suite 220, Phoenix, AZ 850182
  • Phone(602) 414-93002
  • Shares outstanding107,469,788 as of Jul 24, 202615
  • Public float$17.7B as of Jun 30, 202517
  • AuditorPricewaterhouseCoopers LLP, Phoenix, Arizona PCAOB ID 238; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceDec 23, 20032
  • Filings2,697 in all: 4 (1,884), 8-K (226), 144 (157), 3 (62), 10-Q (59), SC 13G/A (48), UPLOAD (33), CORRESP (22)2
    All 46 form types

    DEF 14A (21), 10-K (20), DEFA14A (20), SC 13G (16), SD (13), ARS (12), SC 13D/A (10), S-1/A (9), SCHEDULE 13G (9), SCHEDULE 13G/A (9), 4/A (8), 8-K/A (6), 5 (5), S-8 POS (5), S-8 (4), SC 13D (4), 424B5 (3), S-3ASR (3), 10-Q/A (2), 144/A (2), 3/A (2), 424B4 (2), CT ORDER (2), DFAN14A (2), EFFECT (2), FWP (2), S-1 (2), 424B2 (1), 424B7 (1), 8-A12B (1), CERTNAS (1), D (1), PRE 14A (1), REGDEX (1), S-1MEF (1), SC TO-I (1), SC TO-I/A (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Jul 30, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.001 par valueFSLRThe NASDAQ Stock Market LLC

From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks First Solar names in Item 1A of its 10-K filed Feb 24, 2026: 32 risks under these headings, as written.17

  • Risks Related to Our Markets and Customers
  • Risks Related to Our Operations, Manufacturing, and Technology
  • Risks Related to Regulations
  • General Risk Factors
  • Competition in solar markets globally and across the solar value chain is intense and could remain that way for an extended period of time. The solar industry may experience periods of structural imbalance between global PV module supply and demand that result in periods of pricing volatility, which could have a material adverse effect on our business, financial condition, and results of operations.
  • The loss of any of our large customers, or the inability of our customers and counterparties to perform under their contracts with us, including through terminations by customers of any contract in part or in full, has reduced and, in the future, could significantly reduce our net sales and negatively impact our results of operations.
  • An increase in interest rates or tightening of the supply of capital in the global financial markets (including a reduction in total tax equity availability) could make it difficult for customers to finance the cost of a PV solar power system and could reduce the demand for our modules and/or lead to a reduction in the average selling price for our modules.
  • We may be unable to execute our long-term strategic plans, which could have a material adverse effect on our business, financial condition, or results of operations.
  • We face intense competition from manufacturers of crystalline silicon solar modules; if global supply exceeds global demand, it could lead to a further reduction in the average selling price for PV solar modules, which could reduce our net sales and adversely affect our results of operations.
  • Problems with product quality or performance may cause us to incur significant and/or unexpected contractual damages and/or warranty and related expenses, damage our market reputation, and prevent us from maintaining or increasing our market share.
  • Our failure to further refine our technology and develop and introduce improved PV products, including as a result of delays in implementing planned advancements, could render our solar modules uncompetitive and reduce our net sales, profitability, and/or market share.
  • Some of our manufacturing equipment is customized and sole sourced. If our manufacturing equipment fails or if our equipment suppliers fail to perform under their contracts, we could experience production disruptions and be unable to satisfy our contractual requirements.
The other 24 risks
  • Several of our key raw materials and components are either single-sourced or sourced from a limited number of suppliers, and their failure to perform could cause manufacturing delays and impair our ability to deliver solar modules to customers in the required quality and quantities and at a price that is profitable to us.
  • A disruption in our supply chain for CdTe, tellurium, products containing tellurium, or other key raw materials, or equipment could interrupt or impair our ability to manufacture solar modules and could adversely impact our profitability and long-term growth prospects.
  • Our failure to effectively manage module manufacturing and related costs, including costs related to raw materials and logistics services, could render our solar modules uncompetitive and reduce our net sales, profitability, and/or market share.
  • Our future success depends on our ability to effectively balance manufacturing production with market demand, effectively manage our cost per watt, and, when necessary, continue to build new manufacturing plants over time in response to market demand, all of which are subject to risks and uncertainties.
  • We may be unable to generate sufficient cash flows or have access to the sources of external financing necessary to fund planned capital investments in manufacturing capacity and product development.
  • If our estimates regarding the future costs of collecting and recycling CdTe solar modules covered by our solar module collection and recycling program are incorrect, we could be required to accrue additional expenses and face a significant unplanned cash burden.
  • Our failure to protect or successfully commercialize our intellectual property rights may undermine our competitive position, and litigation to protect our intellectual property rights or defend against third-party allegations of infringement may be costly.
  • If any future production lines are not built in line with committed schedules, it may adversely affect our future growth plans. If any future production lines do not achieve operating metrics similar to our existing production lines, our solar modules could perform below expectations and cause us to lose customers.
  • Our substantial international operations subject us to a number of risks, including unfavorable political, regulatory, labor, and tax conditions in the United States and/or foreign countries.
  • We have received and expect to continue to receive certain financial benefits as a result of tax incentives enacted by the Inflation Reduction Act of 2022 and amended by the One Big Beautiful Bill Act of 2025. If these financial benefits vary significantly from our assumptions, our business, financial condition, and results of operations could be adversely affected.
  • Existing regulations and policies, changes thereto, and new regulations and policies may present technical, regulatory, and economic barriers to the purchase and use of PV solar products, which may significantly reduce demand for our modules.
  • We could be adversely affected by any violations of the FCPA, the U.K. Bribery Act, and other foreign anti-bribery laws.
  • Environmental obligations and liabilities could have a substantial negative impact on our business, financial condition, and results of operations.
  • Cybersecurity incidents or information or security breaches, or those of third parties with which we do business, could have a material adverse effect on our business, financial condition, and results of operations.
  • Uncertainty in the development, deployment and use of AI in our products and services, as well as our business more broadly, could adversely affect our business and reputation.
  • Climate-related physical risks, including weather events and natural disasters, may affect our manufacturing operations, supply chains, and customers, which could have a material adverse effect on our business, financial condition, or results of operations.
  • The severity and duration of public health threats could materially impact our business, financial condition, and results of operations.
  • If we are unable to attract, train, retain, and successfully integrate key talent into our team, our business may be materially and adversely affected.
  • We may be exposed to intellectual property violation claims by third parties, which, if determined adversely to us, could cause us to pay significant damage awards or limit or prohibit the manufacture, use, distribution, export, import, or sale of our solar modules or other technology or know-how.
  • Currency translation and transaction risk may negatively affect our results of operations.
  • Unanticipated changes in our tax position, the enactment of new tax legislation, or exposure to additional income tax liabilities could affect our profitability.
  • We have been and may be subject to or involved in litigation or threatened litigation, the outcome of which may be difficult to predict, and which may be costly to defend, divert management attention, require us to pay damages, or restrict the operation of our business.
  • Changes in, or any failure to comply with, privacy laws, regulations, and standards may adversely affect our business.
  • Our Amended and Restated Bylaws designate a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders, and the federal district courts of the United States as the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act of 1933, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, employees, agents or stockholders.

Legal proceedings

JinkoSolar

On February 25, 2025, First Solar filed suit in the district court for the District of Delaware asserting that JinkoSolar Holding Co., Ltd.; Jinko Solar Co., Ltd.; Jinko Solar (Vietnam) Industries Co. Ltd.; Jinko Solar Technology Sdn. Bhd.; Zhejiang Jinko Solar Co., Ltd.; JinkoSolar (U.S.) Holding Inc.; JinkoSolar (U.S.) Inc.; Jinko Solar (U.S.) Manufacturing Inc.; and Jinko Solar (U.S.) Industries Inc. (collectively, “JinkoSolar”) directly and indirectly infringe a First Solar patent through JinkoSolar’s manufacture, import, use, sale, and offering for sale of certain tunnel oxide passivated contact (“TOPCon”) solar products. First Solar alleges that the JinkoSolar TOPCon products contain solar cells manufactured using a method claimed in the patent. First Solar seeks both monetary damages and injunctive relief. On June 27, 2025, JinkoSolar filed an answer to the complaint and counterclaims asserting that the patent-in-suit is not valid and that it is not infringed by JinkoSolar. On July 18, 2025, First Solar filed an answer to the counterclaims.

On July 18, 2025, JinkoSolar Co. Ltd. filed an inter partes review before the U.S. Patent and Trademark Office (the “USPTO”) alleging First Solar’s patent asserted in the District of Delaware litigation (the “’074 Patent”) is invalid over certain prior art. On September 29, 2025, First Solar filed a brief requesting that the inter partes review be discretionarily denied. On November 20, 2025, the U.S. Patent Trial and Appeal Board declined the petition, ending the proceeding.

On December 15, 2025, JinkoSolar filed a petition for an ex parte reexamination of First Solar’s ‘074 patent. First Solar is evaluating the petition and preparing its response. The USPTO decision on whether to issue an order granting or denying the reexamination is due on March 15, 2026.

The opening of Item 3, Legal Proceedings.17

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