Net Profit Margin
since 2006
Calculation
First Solar Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 25.03% | = | 100 | × | 830,777) | ÷ | 3,318,602) |
| Dec 31, 2022 | -1.69% | = | 100 | × | (44,166) | ÷ | 2,619,319) |
| Dec 31, 2021 | 16.03% | = | 100 | × | 468,693) | ÷ | 2,923,377) |
| Dec 31, 2020 | 14.69% | = | 100 | × | 398,355) | ÷ | 2,711,332) |
| Dec 31, 2019 | -3.75% | = | 100 | × | (114,933) | ÷ | 3,063,117) |
| Dec 31, 2018 | 6.43% | = | 100 | × | 144,326) | ÷ | 2,244,044) |
| Dec 31, 2017 | -5.63% | = | 100 | × | (165,615) | ÷ | 2,941,324) |
| Dec 31, 2016 | -12.13% | = | 100 | × | (357,964) | ÷ | 2,951,328) |
| Dec 31, 2015 | 15.27% | = | 100 | × | 546,421) | ÷ | 3,578,995) |
| Dec 31, 2014 | 11.70% | = | 100 | × | 396,918) | ÷ | 3,391,814) |
| Dec 31, 2013 | 10.67% | = | 100 | × | 353,038) | ÷ | 3,308,989) |
| Dec 31, 2012 | -2.86% | = | 100 | × | (96,338) | ÷ | 3,368,545) |
| Dec 31, 2011 | -1.43% | = | 100 | × | (39,493) | ÷ | 2,766,207) |
| Dec 31, 2010 | 25.91% | = | 100 | × | 664,201) | ÷ | 2,563,515) |
| Dec 26, 2009 | 30.98% | = | 100 | × | 640,138) | ÷ | 2,066,200) |
| Dec 27, 2008 | 27.95% | = | 100 | × | 348,330) | ÷ | 1,246,301) |
| Dec 29, 2007 | 31.42% | = | 100 | × | 158,354) | ÷ | 503,976) |
| Dec 30, 2006 | 2.94% | = | 100 | × | 3,974) | ÷ | 134,974) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).
1 US$ in thousands
- Net Income (Loss) Trends
- The net income figures show significant volatility over the reported period. Initially, net income grows substantially from 3,974 thousand US dollars in 2006 to a peak of 664,201 thousand US dollars in 2010. However, from 2010 onwards, the company experiences fluctuations with several years of negative net income, notably in 2011, 2012, 2016, and 2017. After a recovery phase with positive earnings from 2013 to 2015 and again in 2018 and 2020-2021, net income dips into a loss in 2022 but rebounds strongly to 830,777 thousand US dollars by 2023, reflecting considerable instability but also resilience.
- Net Sales Behavior
- Net sales exhibit a general upward trend with rapid growth from 134,974 thousand US dollars in 2006 to a high of 3,578,995 thousand US dollars in 2015, demonstrating strong revenue expansion. Following 2015, net sales experience a decline, dropping notably to 2,241,044 thousand US dollars in 2018, before recovering partially and fluctuating around 2,600,000 to 3,300,000 thousand US dollars through 2023. The trends suggest periods of both robust growth and subsequent market challenges affecting sales volume or pricing.
- Net Profit Margin Patterns
- The net profit margin shows considerable variation, with strong positive margins peaking above 30% during 2007-2009, indicating high profitability relative to sales in those years. After 2010, profit margins decline sharply, entering into negative territory in several years (2011, 2012, 2016, 2017, 2019, and 2022), which points to operational or financial difficulties impacting overall profitability. Positive margins reappear intermittently, with a notable resurgence in 2020, 2021, and reaching 25.03% in 2023, signifying improved efficiency or favorable market conditions in those years.
- Overall Observations
- The financial data illustrates a company that experienced rapid revenue increase and high profitability during the late 2000s, followed by several years of financial instability characterized by losses and shrinking margins. Despite these challenges, the company demonstrates recovery signs in recent years, particularly with a strong net income and profit margin rebound in 2023. Fluctuating sales volumes and margins underscore a volatile market environment or internal operational challenges, with the latest figures pointing toward restored financial health.
Comparison to Competitors
First Solar Inc., net profit margin, long-term trends, comparison to competitors
| First Solar Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 25.03% | 3.77% | 26.94% | 25.86% | 39.31% | 3.11% | 32.27% | 25.88% | -37.54% | 16.19% | 20.19% | 37.16% |
| Dec 31, 2022 | -1.69% | 5.59% | 22.88% | 25.31% | 34.62% | 12.71% | 36.06% | 26.73% | 28.24% | 36.23% | 29.27% | 43.68% |
| Dec 31, 2021 | 16.03% | 19.24% | 19.00% | 25.53% | 24.54% | 25.14% | 30.04% | 26.72% | 21.16% | 25.98% | 26.94% | 42.35% |
| Dec 31, 2020 | 14.69% | 25.50% | 21.79% | 21.04% | 12.39% | 26.84% | 20.96% | 22.42% | 12.54% | 25.61% | 22.09% | 38.69% |
| Dec 31, 2019 | -3.75% | 5.07% | 22.75% | 18.52% | 12.05% | 29.25% | 25.73% | 22.70% | 26.97% | 35.34% | 18.07% | 34.88% |
| Dec 31, 2018 | 6.43% | 5.20% | 24.12% | 19.20% | 58.80% | 29.72% | 19.87% | 21.49% | 46.51% | 31.37% | -21.40% | 35.35% |
| Dec 31, 2017 | -5.63% | 0.81% | 14.24% | 23.62% | 9.59% | 15.30% | 26.61% | 21.19% | 25.04% | 24.11% | 11.06% | 24.61% |
| Dec 31, 2016 | -12.13% | -11.63% | 25.18% | 15.90% | -13.13% | 17.37% | 23.60% | 15.53% | -2.23% | 12.26% | 24.22% | 26.89% |
| Dec 31, 2015 | 15.27% | -16.54% | 20.29% | 14.26% | 19.99% | 20.63% | 13.01% | 12.47% | 17.90% | 13.47% | 20.85% | 22.97% |
| Dec 31, 2014 | 11.70% | -7.32% | 21.97% | 11.82% | 6.16% | 20.95% | 19.89% | 13.72% | 18.61% | 10.65% | 30.08% | 21.63% |
| Dec 31, 2013 | 10.67% | -1.57% | 25.57% | 3.41% | 21.90% | 18.25% | 19.11% | 3.16% | 13.12% | 13.14% | 27.56% | 17.71% |
| Dec 31, 2012 | -2.86% | -21.82% | 24.11% | 1.25% | 23.82% | 20.63% | 23.83% | 6.33% | -12.53% | 14.53% | 31.95% | 13.72% |
| Dec 31, 2011 | -1.43% | 7.48% | 28.98% | 18.31% | 23.63% | 23.97% | 25.02% | 22.35% | 1.90% | 7.14% | 28.48% | 16.28% |
| Dec 31, 2010 | 25.91% | 7.25% | 25.79% | 9.82% | 19.83% | 26.28% | 11.66% | 16.25% | 21.81% | -2.04% | 29.54% | 23.11% |
| Dec 26, 2009 | 30.98% | 5.63% | 12.30% | -6.09% | -2.96% | 12.44% | -34.43% | -27.08% | -38.21% | -0.88% | 15.28% | 14.10% |
| Dec 27, 2008 | 27.95% | -53.34% | 30.44% | 11.82% | — | 14.08% | 14.24% | 17.75% | -27.72% | 19.46% | 28.36% | 15.36% |
| Dec 29, 2007 | 31.42% | -56.19% | 19.52% | 17.57% | — | 18.20% | 19.34% | 26.72% | -5.63% | 14.63% | 37.23% | 19.20% |
| Dec 30, 2006 | 2.94% | -2.94% | 21.35% | 16.54% | — | 14.26% | 18.37% | 20.45% | 7.74% | 12.74% | 32.82% | 30.45% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
First Solar Inc., net profit margin, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| First Solar Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 25.03% | 17.06% |
| Dec 31, 2022 | -1.69% | 25.54% |
| Dec 31, 2021 | 16.03% | 25.83% |
| Dec 31, 2020 | 14.69% | 23.10% |
| Dec 31, 2019 | -3.75% | 24.49% |
| Dec 31, 2018 | 6.43% | 27.65% |
| Dec 31, 2017 | -5.63% | 17.11% |
| Dec 31, 2016 | -12.13% | 14.20% |
| Dec 31, 2015 | 15.27% | 18.44% |
| Dec 31, 2014 | 11.70% | 19.81% |
| Dec 31, 2013 | 10.67% | 17.60% |
| Dec 31, 2012 | -2.86% | 15.90% |
| Dec 31, 2011 | -1.43% | 20.36% |
| Dec 31, 2010 | 25.91% | 21.68% |
| Dec 26, 2009 | 30.98% | 6.12% |
| Dec 27, 2008 | 27.95% | 9.71% |
| Dec 29, 2007 | 31.42% | 14.03% |
| Dec 30, 2006 | 2.94% | 17.67% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).
Comparison to Industry (Information Technology)
First Solar Inc., net profit margin, long-term trends, comparison to industry (information technology)
| First Solar Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 25.03% | 20.39% |
| Dec 31, 2022 | -1.69% | 22.45% |
| Dec 31, 2021 | 16.03% | 23.62% |
| Dec 31, 2020 | 14.69% | 19.67% |
| Dec 31, 2019 | -3.75% | 19.85% |
| Dec 31, 2018 | 6.43% | 18.57% |
| Dec 31, 2017 | -5.63% | 17.85% |
| Dec 31, 2016 | -12.13% | 17.79% |
| Dec 31, 2015 | 15.27% | 18.37% |
| Dec 31, 2014 | 11.70% | 19.38% |
| Dec 31, 2013 | 10.67% | 20.20% |
| Dec 31, 2012 | -2.86% | 20.07% |
| Dec 31, 2011 | -1.43% | 20.67% |
| Dec 31, 2010 | 25.91% | 20.23% |
| Dec 26, 2009 | 30.98% | 14.52% |
| Dec 27, 2008 | 27.95% | 15.20% |
| Dec 29, 2007 | 31.42% | 15.81% |
| Dec 30, 2006 | 2.94% | 16.23% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).