First Solar, Inc. stock research
FY2026 Q1
First Solar (FSLR) Gross Margin & Quarterly History
Explore First Solar, Inc. (FSLR) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue decreased compared to the prior quarter, while gross profit and cost of revenue also declined; gross margin improved. Compared to the same quarter last year, revenue, gross profit, and cost of revenue were higher, and gross margin strengthened.
- Gross margin improved sequentially and year-over-year, driven by a proportionally larger decline in cost of revenue relative to revenue in the sequential comparison, and a proportionally smaller increase in cost of revenue relative to revenue in the year-over-year comparison.
- Compared to the prior quarter, revenue was lower and gross profit was lower, but gross margin was higher. Compared to the same quarter last year, revenue was higher, gross profit was higher, and gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
46.6%
Gross profit
$486.1M
Revenue
$1.0B
Cost of revenue
$558.1M
Quarter-over-quarter change
+7.0 pts
Year-over-year change
+5.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $1.1B | $499.9M | $597.3M | 45.6% |
| Sep 30, 2025 | $1.6B | $610.7M | $984.1M | 38.3% |
| Dec 31, 2025 | $1.7B | $665.3M | $1.0B | 39.5% |
| Mar 31, 2026 | $1.0B | $486.1M | $558.1M | 46.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+7.0 pts
Year-over-year change
Mar 31, 2025
+5.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin improved sequentially and year-over-year, driven by a proportionally larger decline in cost of revenue relative to revenue in the sequential comparison, and a proportionally smaller increase in cost of revenue relative to revenue in the year-over-year comparison.
Compared to the prior quarter, revenue was lower and gross profit was lower, but gross margin was higher. Compared to the same quarter last year, revenue was higher, gross profit was higher, and gross margin was higher.
Monitor the trajectory of cost of revenue relative to revenue in upcoming quarters to assess margin sustainability.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| First Solar, Inc. (FSLR) | 46.6% |