Stock Analysis on Net
Stock Analysis on Net

First Solar Inc. (NASDAQ:FSLR)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 29, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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First Solar Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Accounts payable
Income taxes payable
Accrued expenses
Current portion of debt
Deferred revenue
Liabilities held for sale
Other current liabilities
Current liabilities
Accrued solar module collection and recycling liability
Long-term debt, noncurrent portion
Deferred revenue
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.001 par value per share
Additional paid-in capital
Accumulated earnings
Accumulated other comprehensive loss
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Accounts payable
Accounts payable as a percentage of total liabilities and stockholders’ equity shows moderate fluctuations over the examined periods. It peaked at 4.14% in December 2022 and reached a low of 1.16% in September 2023, indicating variability in short-term obligations to suppliers.
Income taxes payable
This liability category experienced a general upward trend from 0.11% in March 2019 to 0.86% in September 2024, with some intermittent rises and falls. The increase suggests a growing portion of taxes payable relative to the total capital structure.
Accrued expenses
Accrued expenses as a share of total liabilities and stockholders’ equity declined from 5.62% in March 2019 to a low of around 2.99% in June 2021 but increased again above 6% in September 2023 before settling near 4.55% by September 2024. This pattern points to variability in accrued liabilities over time.
Current portion of debt
This line item displayed volatility, with a notable rise to 1.18% in March 2020 from around 0.17% in early 2019, then fluctuating before peaking again at 1.87% in September 2023. Data for certain quarters are missing, but overall, it suggests changes in short-term debt obligations.
Deferred revenue (current and noncurrent)
Current deferred revenue fluctuated and generally increased to around 6.44% by March 2024, indicating growing customer prepayments or unearned revenues. Noncurrent deferred revenue started to register from December 2022 onwards, rising from 11.45% to a peak of 15.36% in March 2023 before moderating to 11.54% in December 2024. This suggests a growing amount of long-term unearned revenue recognized on the balance sheet.
Other current liabilities
These liabilities rose sharply to 5.2% in December 2019 but returned to below 1% in subsequent periods, mostly staying below 1%, with some mild upticks up to 0.82%. This indicates an unusual spike in that one quarter followed by normalization.
Current liabilities (total)
Total current liabilities showed variability with a notable peak at 17.54% in December 2019 and a general rising trend from about 9.42% in March 2021 to 16.34% in March 2024 before slight decreases. This reflects fluctuating short-term obligations over the years.
Accrued solar module collection and recycling liability
This liability has steadily decreased from 1.85% in March 2019 to 1.22% by September 2024, suggesting a gradual reduction in obligations related to solar module lifecycle management.
Long-term debt (noncurrent portion)
Long-term debt decreased from 7.69% in March 2019 to a low of 2.23% in December 2022, followed by a moderate increase back to around 4% by mid-2023 and ending at 3.26% in September 2024. This indicates a reduction in reliance on long-term borrowings overall with some recent modest increases.
Other liabilities
Other liabilities declined sharply from 8.25% in March 2019 to around 1.42%-1.99% between 2022 and 2024, demonstrating a significant reduction in miscellaneous or less-defined liabilities over the period.
Noncurrent liabilities (total)
The proportion of noncurrent liabilities showed a decline from 17.79% in March 2019 to 9.7% in June 2022, then rose substantially to a peak of 22.88% in December 2023 before decreasing again towards 18% by September 2024. This format suggests variability, with a significant increase during 2022–2023.
Total liabilities
Total liabilities as a percentage of total capital decreased from 29.32% in March 2019 to around 19.61% in December 2021, then increased notably, climbing to a peak of 35.85% in March 2024 and slightly easing to 33.6% in September 2024. This indicates a general trend of reduced leverage until 2021 followed by increased borrowing or obligations in recent years.
Additional paid-in capital
This equity component remained relatively stable around 38%-40% from 2019 through 2022, then showed a continuous declining trend to 25.29% by September 2024, suggesting possible stock repurchases, adjustments, or other equity changes decreasing this portion.
Accumulated earnings
Accumulated earnings generally increased over the analyzed period, from 32.71% in March 2019 to 42.58% in September 2024, reflecting retained profits growth and improving profitability over time.
Accumulated other comprehensive loss
This metric worsened from -0.81% in March 2019 to a low of -2.67% in September 2022 but then improved slightly to -1.48% by September 2024. This indicates increased unrealized losses or other comprehensive income impacts mid-period with partial recovery later.
Stockholders’ equity (total)
Equity as a percentage of total liabilities and stockholders’ equity peaked around 80.39% in December 2021 but declined to roughly 64.52% by March 2024 before modestly increasing to 66.4% in September 2024. Overall, equity dominance over liabilities decreased somewhat recently, suggesting rising leverage or changes in capital structure.