First Solar annual debt-to-ebitda ratio
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2025
First Solar Debt-to-EBITDA Ratio Growth & History (FSLR)
First Solar's debt-to-ebitda ratio was 0.31 for fiscal 2025.
View full First Solar company overviewFirst Solar annual debt-to-ebitda ratio history
| Fiscal year | Period ended | Debt-to-EBITDA ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.31 | −0.09 | −22.04% |
| 2024 | 2024-12-31 | 0.40 | −0.14 | −26.21% |
| 2023 | 2023-12-31 | 0.54 | −0.43 | −44.50% |
| 2022 | 2022-12-31 | 0.97 | 0.49 | +105.09% |
| 2021 | 2021-12-31 | 0.47 | −0.41 | −46.27% |
| 2020 | 2020-12-31 | 0.88 | −12.75 | −93.57% |
| 2019 | 2019-12-31 | 13.63 | 10.89 | +398.72% |
| 2018 | 2018-12-31 | 2.73 | 1.27 | +87.28% |
| 2017 | 2017-12-31 | 1.46 | — | — |
| 2015 | 2015-12-31 | 0.30 | −0.03 | −9.71% |
| 2014 | 2014-12-31 | 0.34 | −0.03 | −8.98% |
| 2013 | 2013-12-31 | 0.37 | −1.83 | −83.15% |
| 2012 | 2012-12-31 | 2.20 | −1.52 | −40.93% |
| 2011 | 2011-12-31 | 3.72 | 3.48 | +1495.77% |
| 2010 | 2010-12-31 | 0.23 | 0.05 | +28.76% |
| 2009 | 2009-12-26 | 0.18 | −0.15 | −44.92% |
| 2008 | 2008-12-27 | 0.33 | — | — |
First Solar quarterly debt-to-ebitda ratio
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Q2.26
| Fiscal quarter | Period ended | Debt-to-EBITDA ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.08 | −0.28 | −77.68% |
| Q1 2026 | 2026-03-31 | 0.26 | −0.09 | −24.99% |
| Q4 2025 | 2025-12-31 | 0.31 | −0.09 | −22.04% |
| Q3 2025 | 2025-09-30 | 0.35 | −0.06 | −14.10% |
| Q2 2025 | 2025-06-30 | 0.36 | −0.01 | −3.81% |
| Q1 2025 | 2025-03-31 | 0.34 | −0.14 | −28.63% |
| Q4 2024 | 2024-12-31 | 0.40 | −0.14 | −26.21% |
| Q3 2024 | 2024-09-30 | 0.40 | −0.37 | −47.95% |
| Q2 2024 | 2024-06-30 | 0.38 | −1.00 | −72.50% |
| Q1 2024 | 2024-03-31 | 0.48 | −0.66 | −57.80% |
| Q4 2023 | 2023-12-31 | 0.54 | −0.43 | −44.50% |
| Q3 2023 | 2023-09-30 | 0.77 | 0.09 | +12.68% |
| Q2 2023 | 2023-06-30 | 1.38 | 0.97 | +240.24% |
| Q1 2023 | 2023-03-31 | 1.14 | 0.40 | +53.43% |
| Q4 2022 | 2022-12-31 | 0.97 | 0.49 | +105.09% |
| Q3 2022 | 2022-09-30 | 0.69 | 0.04 | +6.93% |
| Q2 2022 | 2022-06-30 | 0.40 | −0.13 | −24.28% |
| Q1 2022 | 2022-03-31 | 0.75 | 0.18 | +32.80% |
| Q4 2021 | 2021-12-31 | 0.47 | −0.41 | −46.27% |
| Q3 2021 | 2021-09-30 | 0.64 | −0.60 | −48.31% |
| Q2 2021 | 2021-06-30 | 0.53 | −2.91 | −84.45% |
| Q1 2021 | 2021-03-31 | 0.56 | −4.15 | −88.08% |
| Q4 2020 | 2020-12-31 | 0.88 | −12.75 | −93.57% |
| Q3 2020 | 2020-09-30 | 1.24 | −2.75 | −68.92% |
| Q2 2020 | 2020-06-30 | 3.44 | −0.49 | −12.40% |
| Q1 2020 | 2020-03-31 | 4.71 | −11.42 | −70.79% |
| Q4 2019 | 2019-12-31 | 13.63 | 10.89 | +398.72% |
| Q3 2019 | 2019-09-30 | 4.00 | −1.45 | −26.64% |
| Q2 2019 | 2019-06-30 | 3.93 | 1.93 | +96.46% |
| Q1 2019 | 2019-03-31 | 16.13 | 14.85 | +1164.92% |
| Q4 2018 | 2018-12-31 | 2.73 | 1.27 | +87.28% |
| Q3 2018 | 2018-09-30 | 5.45 | — | — |
| Q2 2018 | 2018-06-30 | 2.00 | — | — |
| Q1 2018 | 2018-03-31 | 1.27 | — | — |
| Q4 2017 | 2017-12-31 | 1.46 | — | — |
| Q3 2016 | 2016-09-30 | 0.98 | 0.63 | +177.02% |
| Q2 2016 | 2016-06-30 | 0.21 | −0.41 | −66.44% |
| Q1 2016 | 2016-03-31 | 0.25 | −0.31 | −55.67% |
| Q4 2015 | 2015-12-31 | 0.30 | −0.03 | −9.71% |
| Q3 2015 | 2015-09-30 | 0.35 | 0.05 | +16.22% |
| Q2 2015 | 2015-06-30 | 0.61 | 0.41 | +202.65% |
| Q1 2015 | 2015-03-31 | 0.56 | 0.36 | +181.37% |
| Q4 2014 | 2014-12-31 | 0.34 | −0.03 | −8.98% |
| Q3 2014 | 2014-09-30 | 0.30 | 0.07 | +29.10% |
| Q2 2014 | 2014-06-30 | 0.20 | −0.11 | −35.52% |
| Q1 2014 | 2014-03-31 | 0.20 | −0.49 | −70.94% |
| Q4 2013 | 2013-12-31 | 0.37 | −1.83 | −83.15% |
| Q3 2013 | 2013-09-30 | 0.24 | — | — |
| Q2 2013 | 2013-06-30 | 0.31 | — | — |
| Q1 2013 | 2013-03-31 | 0.69 | — | — |
| Q4 2012 | 2012-12-31 | 2.20 | −1.52 | −40.93% |
| Q4 2011 | 2011-12-31 | 3.72 | 3.48 | +1495.77% |
| Q3 2011 | 2011-09-30 | 0.74 | — | — |
| Q2 2011 | 2011-06-30 | 0.44 | — | — |
| Q1 2011 | 2011-03-31 | 0.12 | — | — |
| Q4 2010 | 2010-12-31 | 0.23 | — | — |
First Solar debt-to-ebitda ratio trends
Over the last five fiscal years, First Solar's debt-to-ebitda ratio decreased from 0.88 to 0.31, a change of −0.57. The latest reported quarter, Q2 2026, shows 0.08.
About the metric
What the debt-to-EBITDA ratio means
Debt-to-EBITDA compares interest-bearing debt with operating earnings before interest, taxes, depreciation, and amortization. It is commonly used to assess leverage, but it is generally unsuitable for banks and other financial companies.
Calculation and source
How debt-to-EBITDA is calculated
TickerStat divides period-end total debt by annual EBITDA. Quarterly observations use trailing-12-month EBITDA. Periods with zero or negative EBITDA are excluded because the leverage multiple would not be meaningful. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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