PerpEquities

Equity

First Solar, Inc. (FSLR) perpetual futures

FSLR perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade FSLRUSDT.

First Solar, Inc. engineers, manufactures, and sells cadmium telluride solar modules worldwide, serving utilities and other solar system owners.

$173.64-3.5%NASDAQ closed
Open in terminal

Price chart

 

Use the left and right arrow keys to inspect points on the chart.

Collecting venue price data...
venue perp mark · Gate.io (FSLR/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/3 live markets
Venues
3
Live markets
2/3
24h volume
$4.4K
Open interest
$32KCoverage: 1/2 markets
Best liquidity
$1.5K
Gate.io
Tightest spread
+120.3 bps
Gate.io
Highest volume
$4.3K
Gate.io
Settlement mix
USDT · 2/3
Perp/spot vol.
0.00x
Spot volume $406.3M
OI / float
0.00%
Float $17.7B
Spot performance
1D-3.45%
5D-4.86%
1M-14.18%
6M-9.35%
YTD-33.91%
1Y-25.54%

Venue matrix

3 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
Gate.ioTradeFSLR/USDTTrading$173.640.0% APR
0.000% every 8h
+120.3 bps$1.5K$4.3K$32KUSDT20x
Helix (Injective)TradeFSLR/USDCTrading$172.69-24.1% APR
-0.00275% every 1h
--$93.4-USDC12x
BingXTradeFSLR-USDTWatchlist------USDT-

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

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

No fresh book data: Gate.io, Helix (Injective)

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

Best venues for this underlying

Best liquidity

FSLR

Tightest spread

FSLR

Highest volume

FSLR

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 9m ago
Market cap
$18.6B
Updated 9m ago
Revenue
$5.4B
Trailing 12 months
Revenue growth
-4%
Next fiscal year
Profit margin
+32.5%
P/E
10.6
Peer P/E 21.3
Free cash flow
$1.5B
Trailing 12 months
More metrics
Net income
$1.7B
Trailing 12 months
P/S
3.4
Peer P/E
21.3
Similar listed perps
Revenue estimate
$5B
Next fiscal year
Earnings
2026-10-29
Revenue est. $1.3B · Updated 9m 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

Refreshed 9m ago

Charts: revenue, profit, cash flow & valuation
Revenue$1.1BQ2 2026
$420.7M$841.4M$1.3B$1.7BQ3 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$422.6MQ2 2026
$130.2M$260.4M$390.7M$520.9MQ3 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$612.8MQ2 2026
$175.8M$351.6M$527.5M$703.3MQ3 2023: $371.9MQ4 2023: $473.4MQ1 2024: $355.3MQ2 2024: $484.2MQ3 2024: $447.5MQ4 2024: $581.7MQ1 2025: $352.5MQ2 2025: $486MQ3 2025: $614.8MQ4 2025: $703.3MQ1 2026: $509.3MQ2 2026: $612.8MQ3 2023Q2 2026
Free cash flow-$306.2MQ2 2026
-$342.9M$128.1M$599.1M$1.1BQ3 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$3.92Q2 2026
$1.21$2.42$3.63$4.84Q3 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$1.7BQ2 2026
$700.9M$1.4B$2.1B$2.8BQ3 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+57.3%Q2 2026
+14.3%+28.6%+43.0%+57.3%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-3.7%Q2 2026
+17.1%+38.0%+58.8%+79.7%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 outstanding107.7MQ2 2026
26.9M53.9M80.8M107.7MQ3 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
Valuation15.0Q2 2026
7.515.022.630.1Q3 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$5.2B2025
$1.3B$2.6B$3.9B$5.2B2018: $2.2B2019: $3.1B2020: $2.7B2021: $2.9B2022: $2.6B2023: $3.3B2024: $4.2B2025: $5.2B20182025
Net income$1.5B2025
$295.9M$706.6M$1.1B$1.5B2018: $144.3M2019: -$114.9M2020: $398.4M2021: $468.7M2022: -$44.2M2023: $830.8M2024: $1.3B2025: $1.5B20182025
EBITDA$2.2B2025
$538.6M$1.1B$1.6B$2.2B2018: $269.8M2019: $112.4M2020: $550.2M2021: $845.2M2022: $290.5M2023: $1.2B2024: $1.9B2025: $2.2B20182025
Free cash flow$1.2B2025
-$503.2M$60.3M$623.8M$1.2B2018: -$1.1B2019: -$494.5M2020: -$379.5M2021: -$302.7M2022: -$30.2M2023: -$784.5M2024: -$308.1M2025: $1.2B20182025
EPS$14.22025
$2.74$6.56$10.4$14.22018: $1.362019: -$1.092020: $3.732021: $4.382022: -$0.412023: $7.742024: $122025: $14.220182025
Cash / Debt$2.8B2025
$700.9M$1.4B$2.1B$2.8B2018 · 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+40.6%2025
+7.1%+19.4%+31.8%+44.2%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+24.1%2025
+0.5%+12.5%+24.5%+36.5%2019: +36.5%2020: -11.5%2021: +7.8%2022: -10.4%2023: +26.7%2024: +26.7%2025: +24.1%20182025
Shares outstanding107.5M2025
26.9M53.8M80.7M107.5M2018: 106.1M2019: 105.3M2020: 106.7M2021: 106.9M2022: 106.6M2023: 107.4M2024: 107.5M2025: 107.5M20182025
Valuation18.32025
-266.3-167.3-68.330.82018 · 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

Next catalyst

Catalysts

Earnings
2026-10-29
Revenue est. $1.3B · Updated 9m ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202617.51$5B-4%25
FY 202723.35$5.9B+13%25
FY 202829.26$6.6B+27%26
FY 202934.95$7.3B+40%23
FY 203031.25$7.3B+40%13
Q1 20286.97$1.6B+49%14

Company events

6
2026-10-29Earnings · After market closeActual - / Estimate 4.67-
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

Analyst track record

How the analysts covering FSLR have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings153487
Analysts3555
Buy / hold / sell114 / 32 / 7399 / 77 / 11
Upgrades / downgrades / initiations8 / 7 / 621 / 14 / 18
Price targets hit / missed5 / 136 (4%)14 / 426 (3%)
Avg. return after a rating (TipRanks)-30.5%-26.1%
Best / worst call+19.2% / -46.6%+78.8% / -50.3%

After buy calls on this stock: median 21-day move +2.0% vs S&P 500 -0.1% (n = 408)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Maheep MandloiMizuho Securities100% hit rate on this stock · 13 targets measuredBuytarget $324Aug 10, 2026
  2. Michael BlumWells Fargo100% hit rate on this stock · 11 targets measuredBuytarget $285Jan 8, 2026
  3. Ameet ThakkarBMO Capital87% hit rate on this stock · 15 targets measuredBuytarget $263Aug 28, 2026

Latest ratings

DateAnalystCallTarget
Oct 15, 2026Christine Cho CFABarclaysBuyMaintained$259
Oct 14, 2026David ArcaroMorgan StanleyBuyMaintained$326
Oct 14, 2026David ArcaroMorgan StanleyBuyMaintained$326
Oct 12, 2026Christopher SoutherTruist FinancialBuyUpgraded$270
Oct 9, 2026Chris DendrinosRBC CapitalBuyMaintained$236
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$180$200$220$240$260$280$300Nov 25 · Buy 20 · Hold 3 · Sell 1Nov 25Dec 25 · Buy 19 · Hold 3 · Sell 1Jan 26 · Buy 18 · Hold 6 · Sell 1Jan 26Feb 26 · Buy 17 · Hold 9 · Sell 1Mar 26 · Buy 16 · Hold 10 · Sell 1Mar 26Apr 26 · Buy 17 · Hold 10 · Sell 1May 26 · Buy 20 · Hold 9 · Sell 1May 26Jun 26 · Buy 20 · Hold 9 · Sell 2Jul 26 · Buy 19 · Hold 9 · Sell 2Jul 26Aug 26 · Buy 21 · Hold 6 · Sell 2Sep 26 · Buy 22 · Hold 7 · Sell 2Sep 26Oct 26 · Buy 22 · Hold 7 · Sell 2Nov 25 · avg. target $270Dec 25 · avg. target $275Jan 26 · avg. target $284Feb 26 · avg. target $263Mar 26 · avg. target $252Apr 26 · avg. target $247May 26 · avg. target $252Jun 26 · avg. target $256Jul 26 · avg. target $259Aug 26 · avg. target $275Sep 26 · avg. target $272Oct 26 · avg. target $270Nov 25 · month-end close $273Dec 25 · month-end close $261Jan 26 · month-end close $226Feb 26 · month-end close $197Mar 26 · month-end close $197Apr 26 · month-end close $202May 26 · month-end close $307Jun 26 · month-end close $236Jul 26 · month-end close $211Aug 26 · month-end close $202Sep 26 · month-end close $175Oct 26 · month-end close $178

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 16, 2026 · 153 ratings

Frequently asked questions

Where can I trade FSLR perpetual futures?

First Solar, Inc. (FSLR) perpetual futures trade on 2 crypto venues, including Gate.io, Helix (Injective). 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?

Right now the FSLR perp funding rate is -12.0% annualized (venue median), ranging from -24.1% to 0.0% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the FSLR perp price compare to the First Solar, Inc. stock?

The venue-median FSLR perp mark is $173.2 versus a reference stock price of $173.6, a basis of -0.3%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

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.

What is FSLRUSDT perpetual?

FSLRUSDT is the symbol most crypto exchanges use for the First Solar, Inc. perpetual settled in USDT (Tether). It tracks the FSLR share price through an index, trades 24/7 with leverage and never expires.

Embed this asset

FSLR perpetuals · perpequities.comFSLR perpetuals · perpequities.com
<a href="https://perpequities.com/stocks/fslr-perp"><img src="https://perpequities.com/badge/fslr-perp.svg" width="240" height="64" alt="FSLR perpetuals · perpequities.com" loading="lazy"></a>

Next step

Stay on top of FSLR perps

Signals with a track record

Analysts who hit 70%+ of their targets on the perps we track, congress buys over $500k, 13F positions over $5M, funding spreads that have paid for days. Every post shows the evidence. Free, no sign-up.

Join on Telegram

Weekly digest by email

The listings, funding and moves that matter for FSLR — one email every Sunday.

Watchlist and alerts

Price and funding alerts for FSLR, via push or Telegram.

Set an alert

Follow the live feed

Daily movers, new listings and funding extremes as they happen.

Follow on X