PerpEquities

Equity

First Solar, Inc. (FSLR) perpetual futures

First Solar, Inc. tracked across crypto venues with normalized contract specifications.

$200.51-1.1%NASDAQ closed
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venue perp mark · Helix (Injective) (FSLR/USDC)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$22.4K
Open interest
$14.7K
Best liquidity
$2.3K
Gate.io
Tightest spread
+51.7 bps
Gate.io
Highest volume
$19.6K
Helix (Injective)
Settlement mix
USDT · 1/2
Perp/spot vol.
0.00x
Spot volume $338.3M
OI / float
0.00%
Float $20.4B
Spot performance
1D-1.11%
5D-4.76%
1M-5.39%
6M-0.11%
YTD-23.57%
1Y+1.98%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Helix (Injective)TradeFSLR/USDCTrading$199.40+4.6% APR
+0.00052% every 1h
--$19.6K-USDC12x
Gate.ioTradeFSLR/USDTTrading$200.510.0% APR
0.000% every 8h
+51.7 bps$2.3K$2.8K$14.7KUSDT20x

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Tradability

Execution quality

No sufficient depth · 0 of 2 venues absorb $10k

Too thin: Gate.io

No fresh book data: Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$21.5B
Updated 1h ago
Revenue
$5.4B
Trailing 12 months
Revenue growth
-4%
Next fiscal year
Profit margin
+32.5%
P/E
12.3
Peer P/E 24.7
Free cash flow
$1.5B
Trailing 12 months
More metrics
Net income
$1.7B
Trailing 12 months
P/S
4.0
Peer P/E
24.7
Similar listed perps
Revenue estimate
$5B
Next fiscal year
Earnings
2026-10-29
Revenue est. $1.3B · Updated 1h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$5.2B
Net margin+29.3%
Free cash flow$1.2B
Net debt-$2.3B
2020$2.7B
2021$2.9B
2022$2.6B
2023$3.3B
2024$4.2B
2025$5.2B
PeriodRevenueGrowthNet incomeFCF
2020$2.7B-11%$398.4M-$379.5M
2021$2.9B+8%$468.7M-$302.7M
2022$2.6B-10%-$44.2M-$30.2M
2023$3.3B+27%$830.8M-$784.5M
2024$4.2B+27%$1.3B-$308.1M
2025$5.2B+24%$1.5B$1.2B
PeriodGross marginOperating marginNet marginROEROA
2020+25.1%+11.7%+14.7%+7.2%+5.6%
2021+25.0%+20.1%+16.0%+7.9%+6.3%
2022+2.7%-1.0%-1.7%-0.8%-0.5%
2023+39.2%+25.8%+25.0%+12.4%+8.0%
2024+44.2%+33.2%+30.7%+16.2%+10.7%
2025+40.6%+30.6%+29.3%+16.0%+11.5%
PeriodCashDebtNet debtCurrent ratio
2020$1.2B$482.3M-$744.7M3.56
2021$1.5B$398.6M-$1.1B4.39
2022$1.5B$234.1M-$1.2B3.65
2023$1.9B$624.4M-$1.3B3.55
2024$1.6B$718.8M-$902.6M2.45
2025$2.8B$498.6M-$2.3B2.67
PeriodMarket capEnterprise valueP/SP/E
2020$10.5B$9.7B3.926.3
2021$9.3B$8.2B3.219.8
2022$16B$14.7B6.1-365.3
2023$18.4B$17.1B5.522.1
2024$18.9B$18B4.514.6
2025$28B$25.7B5.418.3
Q3 2024$887.7M
Q4 2024$1.5B
Q1 2025$844.6M
Q2 2025$1.1B
Q3 2025$1.6B
Q4 2025$1.7B
Q1 2026$1B
Q2 2026$1.1B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$887.7M+11%$313M-$487.7M
Q4 2024$1.5B+31%$393.1M$497.5M
Q1 2025$844.6M+6%$209.5M-$813.9M
Q2 2025$1.1B+9%$341.9M-$138.6M
Q3 2025$1.6B+80%$455.9M$1.1B
Q4 2025$1.7B+11%$520.9M$1.1B
Q1 2026$1B+24%$346.6M-$333.4M
Q2 2026$1.1B-4%$422.6M-$306.2M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+50.2%+36.3%+35.3%+4.1%+2.7%
Q4 2024+37.5%+30.2%+26.0%+4.9%+3.2%
Q1 2025+40.8%+26.2%+24.8%+2.6%+1.7%
Q2 2025+45.6%+33.0%+31.2%+4.0%+2.7%
Q3 2025+38.3%+29.2%+28.6%+5.1%+3.4%
Q4 2025+39.5%+32.6%+31.0%+5.5%+3.9%
Q1 2026+46.6%+33.1%+33.2%+3.5%+2.6%
Q2 2026+57.3%+42.6%+40.0%+4.1%+3.2%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$1B$694.1M-$311M2.14
Q4 2024$1.6B$718.8M-$902.6M2.45
Q1 2025$837.6M$630.4M-$207.2M1.93
Q2 2025$1.1B$1.1B-$57.7M1.90
Q3 2025$2B$891.9M-$1.1B1.91
Q4 2025$2.8B$498.6M-$2.3B2.67
Q1 2026$2.4B$425.8M-$1.9B2.56
Q2 2026$1.7B$194M-$1.5B2.52
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$26.7B$26.4B30.121.4
Q4 2024$18.9B$18B12.512.0
Q1 2025$13.5B$13.3B16.016.1
Q2 2025$17.8B$17.7B16.213.0
Q3 2025$23.7B$22.6B14.813.0
Q4 2025$28B$25.7B16.713.5
Q1 2026$21.2B$19.2B20.315.3
Q2 2026$25.4B$23.9B24.015.0
Historical value series
Revenue
Q3 2023: $801.1MQ4 2023: $1.2BQ1 2024: $794.1MQ2 2024: $1BQ3 2024: $887.7MQ4 2024: $1.5BQ1 2025: $844.6MQ2 2025: $1.1BQ3 2025: $1.6BQ4 2025: $1.7BQ1 2026: $1BQ2 2026: $1.1BQ3 2023Q2 2026
Net income
Q3 2023: $268.4MQ4 2023: $349.2MQ1 2024: $236.6MQ2 2024: $349.4MQ3 2024: $313MQ4 2024: $393.1MQ1 2025: $209.5MQ2 2025: $341.9MQ3 2025: $455.9MQ4 2025: $520.9MQ1 2026: $346.6MQ2 2026: $422.6MQ3 2023Q2 2026
EBITDA
Q3 2023: $371.9MQ4 2023: $473.4MQ1 2024: $355.3MQ2 2024: $484.2MQ3 2024: $447.5MQ4 2024: $581.7MQ1 2025: $351.4MQ2 2025: $484.8MQ3 2025: $614.8MQ4 2025: $703.3MQ1 2026: $509.3MQ2 2026: $612.8MQ3 2023Q2 2026
Free cash flow
Q3 2023: -$120.8MQ4 2023: $214.2MQ1 2024: -$145.7MQ2 2024: -$172.1MQ3 2024: -$487.7MQ4 2024: $497.5MQ1 2025: -$813.9MQ2 2025: -$138.6MQ3 2025: $1.1BQ4 2025: $1.1BQ1 2026: -$333.4MQ2 2026: -$306.2MQ3 2023Q2 2026
EPS
Q3 2023: $2.5Q4 2023: $3.25Q1 2024: $2.2Q2 2024: $3.25Q3 2024: $2.91Q4 2024: $3.65Q1 2025: $1.95Q2 2025: $3.18Q3 2025: $4.24Q4 2025: $4.84Q1 2026: $3.22Q2 2026: $3.92Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $1.5BQ3 2023 · Debt: $543.3MQ4 2023 · Cash: $1.9BQ4 2023 · Debt: $624.4MQ1 2024 · Cash: $1.7BQ1 2024 · Debt: $681.5MQ2 2024 · Cash: $1.7BQ2 2024 · Debt: $621.9MQ3 2024 · Cash: $1BQ3 2024 · Debt: $694.1MQ4 2024 · Cash: $1.6BQ4 2024 · Debt: $718.8MQ1 2025 · Cash: $837.6MQ1 2025 · Debt: $630.4MQ2 2025 · Cash: $1.1BQ2 2025 · Debt: $1.1BQ3 2025 · Cash: $2BQ3 2025 · Debt: $891.9MQ4 2025 · Cash: $2.8BQ4 2025 · Debt: $498.6MQ1 2026 · Cash: $2.4BQ1 2026 · Debt: $425.8MQ2 2026 · Cash: $1.7BQ2 2026 · Debt: $194MQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: +47.0%Q4 2023 · Gross margin: +43.3%Q1 2024 · Gross margin: +43.6%Q2 2024 · Gross margin: +49.4%Q3 2024 · Gross margin: +50.2%Q4 2024 · Gross margin: +37.5%Q1 2025 · Gross margin: +40.8%Q2 2025 · Gross margin: +45.6%Q3 2025 · Gross margin: +38.3%Q4 2025 · Gross margin: +39.5%Q1 2026 · Gross margin: +46.6%Q2 2026 · Gross margin: +57.3%Q3 2023 · Operating margin: +34.1%Q4 2023 · Operating margin: +34.3%Q1 2024 · Operating margin: +30.6%Q2 2024 · Operating margin: +36.9%Q3 2024 · Operating margin: +36.3%Q4 2024 · Operating margin: +30.2%Q1 2025 · Operating margin: +26.2%Q2 2025 · Operating margin: +33.0%Q3 2025 · Operating margin: +29.2%Q4 2025 · Operating margin: +32.6%Q1 2026 · Operating margin: +33.1%Q2 2026 · Operating margin: +42.6%Q3 2023 · Net margin: +33.5%Q4 2023 · Net margin: +30.1%Q1 2024 · Net margin: +29.8%Q2 2024 · Net margin: +34.6%Q3 2024 · Net margin: +35.3%Q4 2024 · Net margin: +26.0%Q1 2025 · Net margin: +24.8%Q2 2025 · Net margin: +31.2%Q3 2025 · Net margin: +28.6%Q4 2025 · Net margin: +31.0%Q1 2026 · Net margin: +33.2%Q2 2026 · Net margin: +40.0%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q3 2024: +10.8%Q4 2024: +30.7%Q1 2025: +6.4%Q2 2025: +8.6%Q3 2025: +79.7%Q4 2025: +11.1%Q1 2026: +23.6%Q2 2026: -3.7%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 107.5MQ4 2023: 107.6MQ1 2024: 107.4MQ2 2024: 107.5MQ3 2024: 107.6MQ4 2024: 107.6MQ1 2025: 107.4MQ2 2025: 107.5MQ3 2025: 107.5MQ4 2025: 107.7MQ1 2026: 107.6MQ2 2026: 107.7MQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: 16.1Q4 2023 · P/E: 13.2Q1 2024 · P/E: 19.4Q2 2024 · P/E: 17.1Q3 2024 · P/E: 21.4Q4 2024 · P/E: 12.0Q1 2025 · P/E: 16.1Q2 2025 · P/E: 13.0Q3 2025 · P/E: 13.0Q4 2025 · P/E: 13.5Q1 2026 · P/E: 15.3Q2 2026 · P/E: 15.0Q3 2023 · P/S: 21.5Q4 2023 · P/S: 15.9Q1 2024 · P/S: 23.1Q2 2024 · P/S: 23.6Q3 2024 · P/S: 30.1Q4 2024 · P/S: 12.5Q1 2025 · P/S: 16.0Q2 2025 · P/S: 16.2Q3 2025 · P/S: 14.8Q4 2025 · P/S: 16.7Q1 2026 · P/S: 20.3Q2 2026 · P/S: 24.0Q3 2023Q2 2026
P/EP/S
Revenue
2018: $2.2B2019: $3.1B2020: $2.7B2021: $2.9B2022: $2.6B2023: $3.3B2024: $4.2B2025: $5.2B20182025
Net income
2018: $144.3M2019: -$114.9M2020: $398.4M2021: $468.7M2022: -$44.2M2023: $830.8M2024: $1.3B2025: $1.5B20182025
EBITDA
2018: $269.8M2019: $112.4M2020: $550.2M2021: $845.2M2022: $290.5M2023: $1.2B2024: $1.9B2025: $2.2B20182025
Free cash flow
2018: -$1.1B2019: -$494.5M2020: -$379.5M2021: -$302.7M2022: -$30.2M2023: -$784.5M2024: -$308.1M2025: $1.2B20182025
EPS
2018: $1.362019: -$1.092020: $3.732021: $4.382022: -$0.412023: $7.742024: $122025: $14.220182025
Cash / Debt
2018 · Cash: $1.4B2018 · Debt: $466.8M2019 · Cash: $1.4B2019 · Debt: $595.3M2020 · Cash: $1.2B2020 · Debt: $482.3M2021 · Cash: $1.5B2021 · Debt: $398.6M2022 · Cash: $1.5B2022 · Debt: $234.1M2023 · Cash: $1.9B2023 · Debt: $624.4M2024 · Cash: $1.6B2024 · Debt: $718.8M2025 · Cash: $2.8B2025 · Debt: $498.6M20182025
CashDebt
Profitability
2018 · Gross margin: +17.5%2019 · Gross margin: +17.9%2020 · Gross margin: +25.1%2021 · Gross margin: +25.0%2022 · Gross margin: +2.7%2023 · Gross margin: +39.2%2024 · Gross margin: +44.2%2025 · Gross margin: +40.6%2018 · Operating margin: +1.8%2019 · Operating margin: -5.3%2020 · Operating margin: +11.7%2021 · Operating margin: +20.1%2022 · Operating margin: -1.0%2023 · Operating margin: +25.8%2024 · Operating margin: +33.2%2025 · Operating margin: +30.6%2018 · Net margin: +6.4%2019 · Net margin: -3.8%2020 · Net margin: +14.7%2021 · Net margin: +16.0%2022 · Net margin: -1.7%2023 · Net margin: +25.0%2024 · Net margin: +30.7%2025 · Net margin: +29.3%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: +36.5%2020: -11.5%2021: +7.8%2022: -10.4%2023: +26.7%2024: +26.7%2025: +24.1%20182025
Shares outstanding
2018: 106.1M2019: 105.3M2020: 106.7M2021: 106.9M2022: 106.6M2023: 107.4M2024: 107.5M2025: 107.5M20182025
Valuation
2018 · P/E: 30.82019 · P/E: -51.32020 · P/E: 26.32021 · P/E: 19.82022 · P/E: -365.32023 · P/E: 22.12024 · P/E: 14.62025 · P/E: 18.32018 · P/S: 2.02019 · P/S: 1.92020 · P/S: 3.92021 · P/S: 3.22022 · P/S: 6.12023 · P/S: 5.52024 · P/S: 4.52025 · P/S: 5.420182025
P/EP/S

Refreshed 1h ago

Next catalyst

Catalysts

Earnings
2026-10-29
Revenue est. $1.3B · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202617.42$5B-4%23
FY 202723.41$5.9B+13%23
FY 202829.43$6.6B+26%24
FY 202934.49$7.2B+39%21
FY 203030.86$7.2B+38%13
Q1 20286.83$1.5B+47%13

Company events

6
2026-10-29EarningsActual - / Estimate 4.62-
2026-07-30EarningsActual 3.92 / Estimate 2.9Beat
2026-04-30EarningsActual 3.22 / Estimate 3.03Beat
2026-02-24EarningsActual 4.84 / Estimate 5.14Miss
2025-10-30EarningsActual 4.24 / Estimate 4.24In line
2025-07-31EarningsActual 3.18 / Estimate 2.66Beat

Peer comparison

Similar listed perps

Frequently asked questions

Where can I trade FSLR perpetual futures?

First Solar, Inc. (FSLR) perpetual futures trade on 2 crypto venues, including Helix (Injective), Gate.io. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade FSLR around the clock?

Yes. Unlike the underlying stock, FSLR perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on FSLR perpetuals?

Each venue sets its own FSLR funding rate and it changes continuously. PerpEquities shows the live rate, annualized rate and history for every venue side by side.

What is a FSLR perpetual future?

A FSLR perpetual is a derivative that tracks the price of First Solar, Inc. with no expiry date. It lets you take long or short exposure to First Solar, Inc. on crypto venues, around the clock.