First Solar
S&P 500
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $735.52M | $-387.82M | $-46.91M | $257.55M |
| FY2015 | $-325.21M | $-156.18M | $101.21M | $166.44M |
| FY2016 | $206.75M | $144.52M | $-136.39M | $229.45M |
| FY2017 | $1.34B | $-626.80M | $192.05M | $514.36M |
| FY2018 | $-326.81M | $-682.71M | $255.23M | $739.84M |
| FY2019 | $174.20M | $-362.30M | $74.94M | $668.72M |
| FY2020 | $37.12M | $-131.23M | $-82.59M | $416.64M |
| FY2021 | $237.56M | $-99.04M | $40.55M | $540.29M |
| FY2022 | $873.37M | $-1.19B | $309.39M | $903.61M |
| FY2023 | $602.26M | $-472.79M | $336.85M | $1.39B |
| FY2024 | $1.22B | $-1.56B | $24.85M | $1.53B |
| FY2025 | $2.06B | $-765.17M | $-119.23M | $869.88M |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.