First Solar Inc (FSLR)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,300,680 | 69,858 | 729,954 | 680,673 | 549,212 |
| Revenue | US$ in thousands | 3,318,600 | 2,619,320 | 2,923,380 | 2,711,330 | 3,063,120 |
| Gross profit margin | 39.19% | 2.67% | 24.97% | 25.10% | 17.93% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,300,680K ÷ $3,318,600K
= 39.19%
First Solar Inc's gross profit margin has shown significant fluctuations over the past five years. In 2023, the company's gross profit margin improved substantially to 39.19%, a significant increase compared to the previous year's 2.67%. This improvement indicates that First Solar was able to effectively manage its production costs and generate a higher percentage of revenue as gross profit in 2023.
Comparing to 2021 and 2020, where the gross profit margins were 24.97% and 25.10% respectively, the company's performance in 2023 signifies a notable enhancement in profitability. Moreover, the 2023 gross profit margin of 39.19% is significantly higher than that of 2019, which stood at 17.93%. This consistent improvement over the years suggests that First Solar has been successful in optimizing its production efficiency and controlling costs, resulting in a healthier profit margin in 2023.
Peer comparison
Dec 31, 2023