Stock Analysis on Net
Stock Analysis on Net

First Solar Inc. (NASDAQ:FSLR)

Common-Size Income Statement

First Solar Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net sales 100.00 100.00 100.00 100.00 100.00
Cost of sales -60.81 -97.33 -75.03 -74.90 -82.07
Gross profit 39.19% 2.67% 24.97% 25.10% 17.93%
Selling, general and administrative -5.95 -6.29 -5.83 -8.22 -6.71
Research and development -4.59 -4.31 -3.39 -3.46 -3.15
Production start-up -1.95 -2.79 -0.72 -1.49 -1.50
Litigation loss -1.07 0.00 0.00 -0.22 -11.85
Operating expenses -13.57% -13.39% -9.94% -13.40% -23.21%
Gain on sales of businesses, net 0.21 9.68 5.04 0.00 0.00
Operating income (loss) 25.83% -1.04% 20.07% 11.71% -5.28%
Foreign currency income (loss), net -0.65 -0.63 -0.27 -0.18 0.07
Interest income 2.94 1.27 0.21 0.61 1.60
Interest expense, net -0.39 -0.47 -0.45 -0.89 -0.88
Other income (expense), net -0.88 1.19 0.01 -0.44 0.57
Income (loss) before taxes and equity in earnings (losses) 26.86% 0.33% 19.57% 10.81% -3.92%
Income tax (expense) benefit -1.82 -2.01 -3.54 3.96 0.18
Equity in losses, net of tax 0.00 0.00 0.00 -0.08 -0.01
Net income (loss) 25.03% -1.69% 16.03% 14.69% -3.75%

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).

Income statement item Description The company
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. First Solar Inc. operating income (loss) as a percentage of net sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Income (loss) before taxes and equity in earnings (losses) Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. First Solar Inc. income (loss) before taxes and equity in earnings (losses) as a percentage of net sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. First Solar Inc. net income (loss) as a percentage of net sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.