First Solar Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,528	1,292	830.78	-44.17	468.69
Depreciation & Amortization	529.22	423.5	307.99	269.72	259.9
Stock-Based Compensation	19.22	28.1	34.22	28.66	20.9
Other Adjustments	69.84	-42.53	-44.07	-379.48	-175.23
Change in Receivables	30.62	-505.34	-304.18	118.72	-96.95
Changes in Inventories	377.72	-276.81	-205.11	16.69	-136.37
Changes in Accounts Payable	4.68	268.73	79.33	5.57	48.97
Changes in Income Taxes Payable	-31.81	47.42	8.66	43.59	-13.06
Changes in Unearned Revenue	-189.92	0.7	783.21	912.95	47.06
Changes in Other Operating Activities	-280.69	-17.83	-888.57	-98.89	-186.36
Operating Cash Flow	2,057	1,218	602.26	873.37	237.56
Operating Cash Flow Growth	68.89%	102.24%	-31.04%	267.64%	539.98%
Capital Expenditures	-869.88	-1,526	-1,387	-903.61	-540.29
Purchases of Investments	-1,540	-2,516	-3,613	-3,375	-2,147
Proceeds from Sale of Investments	1,654	2,492	4,564	2,647	2,295
Payments for Business Acquisitions	-	-	-35.74	-	-
Proceeds from Business Divestments	-	-	7.68	442.3	300.5
Other Investing Activities	-8.39	-12.99	-9.05	-3.05	-6.71
Investing Cash Flow	-765.17	-1,563	-472.79	-1,193	-99.04
Long-Term Debt Issued	857.79	258.46	367.98	397.38	129.22
Long-Term Debt Repaid	-960.69	-205.82	-	-75.9	-72.68
Net Long-Term Debt Issued (Repaid)	-102.89	52.64	367.98	321.48	56.54
Repurchase of Common Stock	-15.53	-20.18	-31.13	-12.09	-15.99
Net Common Stock Issued (Repurchased)	-15.53	-20.18	-31.13	-12.09	-15.99
Other Financing Activities	-0.81	-7.61	-	-	-
Financing Cash Flow	-119.23	24.85	336.85	309.39	40.55
Effect of Exchange Rate Changes on Cash and Cash Equivalents	3.1	-6.39	5.29	47.44	3.17
Net Cash Flow	1,176	-326.85	471.61	37.63	182.24
Free Cash Flow	1,187	-308.08	-784.52	-30.24	-302.73
FCF Margin	22.75%	-7.32%	-23.64%	-1.15%	-10.36%
Free Cash Flow Per Share	11.04	-2.87	-7.31	-0.28	-2.83
Levered Free Cash Flow	964.65	264.32	-102.5	523.35	5.09
Unlevered Free Cash Flow	1,083	199.71	-508.61	1,688	-160.15

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.