First Solar Q1 FY23: where the revenue came from and where it went
The whole income statement of First Solar for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2023
- Reported
- Apr 27, 2023
Revenue$0.55B
+49% year over year
Gross profit$0.11B
20% margin
Operating profit$0.02B
3% margin
Net profit$0.04B
8% margin
Net profit is larger than what operations earned, because the statement adds $0.03B below it, under Tax benefit and other.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 0.55 | 100% | +49% |
| Solar module | 0.54 | 98% | +51% |
| Power systems sales of | 0.01 | 2% | +472% |
| Cost of revenue | −0.44 | 80% | |
| Gross profit | 0.11 | 20% margin | +17pp |
| R&D | −0.03 | 6% | −2pp |
| SG&A | −0.04 | 8% | −2pp |
| Other | −0.02 | 3% | +0pp |
| Operating profit | 0.02 | 3% margin | +19pp |
| Tax benefit and other | 0.03 | ||
| Net profit | 0.04 | 8% margin | +20pp |
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