First Solar Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of First Solar Inc (FSLR). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Modules segment [Member] | $1.74B 64.0% | $2.33B 79.7% · +34.3% | $2.43B 92.7% · +4.2% | $3.30B 99.3% · +35.8% | $4.20B 99.9% · +27.5% |
| Other segment | – | $592.0M 20.3% | $191.0M 7.3% · -67.7% | $21.8M 0.7% · -88.6% | $3.6M 0.1% · -83.7% |
| Other Segments | $975.3M 36.0% | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| United States | $1.84B 68.0% | $2.46B 84.0% · +33.3% | $2.19B 83.7% · -10.7% | $3.19B 96.1% · +45.3% | $3.90B 92.8% · +22.5% | $4.99B 95.7% · +27.9% |
| India | $33.8M 1.2% | – | $37.2M 1.4% | $10.9M 0.3% · -70.8% | $201.7M 4.8% · +1,755.9% | $195.6M 3.7% · -3.0% |
| All other foreign countries [Member] | $96.6M 3.6% | $105.6M 3.6% · +9.3% | $147.6M 5.6% · +39.7% | $51.8M 1.6% · -64.9% | $65.4M 1.6% · +26.1% | $22.8M 0.4% · -65.1% |
| France | $127.1M 4.7% | $121.5M 4.2% · -4.4% | $67.7M 2.6% · -44.3% | $68.3M 2.1% · +1.0% | $34.4M 0.8% · -49.7% | $6.3M 0.1% · -81.7% |
| Chile | $21.9M 0.8% | $32.1M 1.1% · +46.5% | $173.3M 6.6% · +440.7% | – | – | – |
| Japan | $469.7M 17.3% | $207.6M 7.1% · -55.8% | – | – | – | – |
| Canada | $118.9M 4.4% | – | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Solar Modules [Member] | $1.74B 64.0% | $2.33B 79.7% · +34.3% | $2.43B 92.7% · +4.2% | $3.30B 99.3% · +35.8% |
| Solar Power Systems [Member] | $794.8M 29.3% | $513.4M 17.6% · -35.4% | $153.3M 5.9% · -70.1% | $20.0M 0.6% · -87.0% |
| O&M Services [Member] | $115.6M 4.3% | $43.1M 1.5% · -62.7% | $12.0M 0.5% · -72.1% | $1.9M 0.1% · -84.5% |
| EPC Services [Member] | $2.9M 0.1% | -$2.0M -0.1% · -169.4% | $0 0.0% · +100.0% | $0 0.0% |
| Energy Generation [Member] | $61.9M 2.3% | $37.6M 1.3% · -39.3% | $25.8M 1.0% · -31.5% | -$19.0K 0.0% · -100.1% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.