First Solar (FSLR) FY2024 results: revenue $4.2 billion, up 26.7% on the year
First Solar, Inc. (FSLR) reported revenue of $4.2 billion for fiscal 2024, the year ended 31 December 2024, up 26.7% on the year before. Net income was $1.3 billion, up 55.5%, and diluted earnings per share $12.02. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$4.2 billion
+26.7% on the year
FY2017FY2024
Operating margin
33.2%
25.8% a year earlier
FY2017FY2024
Net income
$1.3 billion
+55.5% on the year
FY2017FY2024
Diluted EPS
$12.02
+55.3% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,218
602
873
+102.2%
Capital expenditure
1,526
1,387
904
+10.0%
Free cash flow
-308
-785
-30.2
Free cash flow margin
-7.3%
-23.6%
-1.2%
Cash from investing
-1,563
-473
-1,193
Cash from financing
24.8
337
309
-92.6%
Depreciation and amortisation
423
308
270
+37.5%
Share-based compensation
28.1
34.2
28.7
-17.9%
Diluted shares, weighted
108m
107m
107m
+0.1%
Shares outstanding at period end
107m
107m
107m
+0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
7,978
6,687
5,836
+19.3%
Debt
610
560
184
+8.8%
Operating lease liabilities
66.2
36.7
40.6
+80.6%
Finance lease liabilities
29.5
17.1
n/a
+73.1%
Other liabilities
3,441
3,064
2,190
+12.3%
Total liabilities and equity
12,124
10,365
8,251
+17.0%
Fixed assets
5,414
4,397
3,537
+23.1%
Goodwill
28.3
29.7
14.5
-4.6%
Intangible assets
54.7
64.5
31.1
-15.3%
Investments
172
155
1,097
+10.3%
Cash and equivalents
1,621
1,947
1,481
-16.7%
Receivables
1,261
661
324
+90.8%
Inventory
1,084
820
621
+32.3%
Other assets
2,489
2,290
1,145
+8.7%
Total assets
12,124
10,365
8,251
+17.0%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.