← FIRST SOLAR, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($358.0m) |
($165.6m)
+53.73%
|
$144.3m
+187.15%
|
($114.9m)
-179.63%
|
$398.4m
+446.60%
|
$468.7m
+17.66%
|
($44.2m)
-109.42%
|
$830.8m
+1981.03%
|
$1.3b
+55.52%
|
$1.5b
+18.28%
|
— | |
| Depreciation, Depletion and Amortization | $204.3m | $91.9m | $130.7m | $205.5m | $232.9m | $259.9m | $269.7m | $308.0m | $423.5m | $529.2m | $576.2m | |
| Amortization of Intangible Assets | $10.1m | $8.3m | $9.9m | $10.2m | $10.8m | $10.9m | $10.9m | $10.5m | $10.5m | $4.1m | — | |
| Depreciation, Amortization and Accretion, Net | $230.9m | $115.3m | $130.7m | $205.5m | $232.9m | $259.9m | $269.7m | $308.0m | $423.5m | $529.2m | $576.2m | |
| Deferred Income Tax Expense (Benefit) | $93.0m | $240.9m | $52.5m | ($60.4m) | $11.5m | $80.4m | ($6.1m) | ($13.2m) | ($19.9m) | $38.0m | $7.9m | |
| Share-based Payment Arrangement, Noncash Expense | $28.7m | $35.1m | $34.2m | $37.4m | $29.3m | $20.9m | $28.7m | $34.2m | $28.1m | $19.2m | $23.7m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $20.4m | $5.1m | $11.2m | $16.1m | $13.1m | $16.0m | $12.1m | $31.1m | $20.2m | $15.5m | — | |
| Share-based Payment Arrangement, Expense | $28.7m | $35.1m | $34.2m | $37.4m | $29.3m | $20.9m | $28.7m | $34.2m | $28.1m | $19.2m | $23.7m | |
| Equity Method Investment, Other than Temporary Impairment | $15.3m | $2.0m | $3.5m | — | — | — | — | — | — | — | — | |
| Goodwill, Impairment Loss | $74.9m | $0 | $0 | — | — | — | — | — | — | $0 | $1.4m | |
| Income (Loss) from Equity Method Investments | $171.9m | $4.3m | $34.6m | ($284k) | ($2.1m) | $0 | $0 | — | — | — | — | |
| Other Nonoperating Income (Expense) | $40.3m | $24.0m | $39.7m | $17.5m | ($11.9m) | $314k | $31.2m | ($29.1m) | ($13.3m) | ($15.0m) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | ($92.7m) | ($85.8m) | $202.3m | $73.6m | ($345.1m) | $97.0m | ($118.7m) | $304.2m | $505.3m | ($30.6m) | ($316.1m) | |
| Increase (Decrease) in Inventories | — | — | — | — | — | $136.4m | ($16.7m) | $205.1m | $276.8m | ($377.7m) | $395.5m | |
| Increase (Decrease) in Accounts Payable | ($191.6m) | ($47.2m) | $96.4m | ($336k) | ($43.3m) | $34.9m | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $206.8m |
$1.3b
+548.44%
|
($326.8m)
-124.38%
|
$174.2m
+153.30%
|
$37.1m
-78.69%
|
$237.6m
+539.98%
|
$873.4m
+267.64%
|
$602.3m
-31.04%
|
$1.2b
+102.24%
|
$2.1b
+68.89%
|
$2.2b
+4.79%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $229.5m | $514.4m | $739.8m | $668.7m | $416.6m | $540.3m | $903.6m | $1.4b | $1.5b | $869.9m | ($655.6m) | |
| Property, plant and equipment acquisitions funded by liabilities | $229.5m | $514.4m | $739.8m | $668.7m | $416.6m | $540.3m | $903.6m | $1.4b | $1.5b | $869.9m | — | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | — | — | $15.3m | $11.7m | $0 | ($9k) | — | — | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $525.5m | $466.3m | $1.1b | $1.5b | $1.2b | $2.3b | $2.6b | $4.6b | $2.5b | $1.7b | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $10.3m | — | — | — | — | — | — | $35.7m | $0 | $0 | $0 | |
| Payments for (Proceeds from) Other Investing Activities | $10.0m | $243k | $6.1m | $2.9m | $5.5m | $6.7m | $3.0m | $9.0m | $13.0m | $8.4m | — | |
| Net Cash Provided by (Used in) Investing Activities | $144.5m | ($626.8m) | ($682.7m) | ($362.3m) | ($131.2m) | ($99.0m) | ($1.2b) | ($472.8m) | ($1.6b) | ($765.2m) | ($706.6m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | — | — | — | — | $225.3m | $72.7m | $75.9m | — | — | — | ($901.7m) | |
| Proceeds from Issuance of Long-term Debt | $26.8m | $215.4m | $290.9m | $120.1m | $156.7m | $129.2m | $397.4m | $368.0m | $258.5m | $370.5m | ($27.1m) | |
| Proceeds from (Payments for) Other Financing Activities | ($159k) | ($32.0m) | ($5.6m) | $999k | ($804k) | $0 | $0 | — | ($7.6m) | ($810k) | — | |
| Net Cash Provided by (Used in) Financing Activities | ($136.4m) |
$192.0m
+240.80%
|
$255.2m
+32.90%
|
$74.9m
-70.64%
|
($82.6m)
-210.20%
|
$40.5m
+149.10%
|
$309.4m
+662.99%
|
$336.9m
+8.88%
|
$24.8m
-92.62%
|
($119.2m)
-579.81%
|
($930.2m)
-680.16%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($6.3m) | $914.8m | ($767.9m) | ($116.1m) | ($172.9m) | $182.2m | $37.6m | $471.6m | ($326.8m) | $3.1m | $1.7b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($6.3m) | $2.3b | $1.6b | $1.4b | $1.3b | $1.5b | $1.5b | $2.0b | $1.6b | $2.8b | $1.7b | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($6.3m) | $8.9m | ($13.6m) | ($3.0m) | $3.8m | $3.2m | $47.4m | $5.3m | ($6.4m) | $3.1m | $3.4m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Income Taxes Paid, Net | $1.9m | $1.2m | $58.8m | $34.7m | $22.2m | $38.2m | — | $90.9m | ($94.2m) | $43.2m | — | |
| Non-cash transactions: | ||||||||||||
| Additional Financial Items | ||||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | ($14.0m) | ($9.6m) | ($570k) | $2.3m | ($4.9m) | ($8.0m) | ($16.4m) | ($21.5m) | ($25.0m) | ($38.6m) | — | |
| Foreign Currency Transaction Gain (Loss), Unrealized | ($5.4m) | $15.8m | ($8.7m) | ($919k) | ($1.4m) | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | $147.3m | $253.5m | $6.9m | $1.1m | $0 | — | |
| Goodwill | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $29.7m | $28.3m | $31.1m | $1.4m | |
| Income Tax Expense (Benefit) | $58.2m | $372.0m | $3.4m | ($5.5m) | ($107.3m) | $103.5m | $52.8m | $60.5m | $114.3m | $52.7m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $38.9m | $44.1m | — | |
| Investment Income, Interest | $25.2m | $35.7m | $59.8m | $48.9m | $16.6m | $6.2m | $33.3m | — | — | — | — | |
| Operating Expenses | $1.2b | $371.1m | $352.1m | $711.0m | $363.2m | $290.5m | $350.6m | $450.3m | $464.6m | $523.5m | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | $3.2m | — | — | — | — | — | — | — | — | — | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.