FSLRFirst Solar

Technology · Semiconductors · Nasdaq

We are America’s leading PV solar technology and manufacturing company. 10-K, Item 1

Employees: 7,900
Headquarters: Phoenix, AZ
CEO: Mark R. Widmar
Next results: around Feb 23, 2027

Key numbers

Latest fiscal year, with ten years behind each

RevenueFY2016–25 $5.2B+24.1% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $1.5B+18.3% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $1.2B Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 30.6%−2.6 pts -19.6% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 24, 2026 against Feb 25, 2025

Area	What changed	Source
Risk factors	11 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Critical audit matters changed	New this year: Revenue Recognition (“As disclosed in the consolidated statements of operations, the Company's net sales were $5.2 billion for the year ended December 31, 2025. As described in Note 15 to the consolidated financial statements, the Company recognizes revenue for module sales at a point in time following the transfer of co”). No longer listed: Revenue Recognition - Modules Segment	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 24, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-25. Quoted as filed.

Application of trade laws may also adversely impact, either directly or indirectly, our operating results; for example, by impacting our customers’ project costs, profitability, and their demand for our modules; or by impacting our own costs or disrupting our manufacturing or supply chains, and consequently negatively impacting demand…
10-K, Item 1A

All 11 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Critical audit matters changedNew this year: Revenue Recognition (“As disclosed in the consolidated statements of operations, the Company's net sales were $5.2 billion for the year ended December 31, 2025. As described in Note 15 to the consolidated financial statements, the Company recognizes revenue for module sales at a point in time following the transfer of co”). No longer listed: Revenue Recognition - Modules Segment
✓
Receivables +2.6% vs revenue +24.1% (-21.5 pts)
✓
Cash from operations $2.1B vs net income $1.5B (FY ending 2025-12-31)
✓
Inventory -32.1% vs revenue +24.1% (-56.1 pts)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 29, 20268-K Quarterly results, Other events 8-K items 2.02, 8.01
Oct 29, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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Work on FSLR in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FSLR/export.csv") into a cell.