First Solar (MEX:FSLR) Selling, General, & Admin. Expense: MXN3,949 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:FSLR First Solar Inc MEX:FSLR
89 GF Score
Price MXN3,856.00
GF Value MXN4,571.31
Valuation Modestly Undervalued
! 5 Warning Signs
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What is First Solar Selling, General, & Admin. Expense?

First Solar MEX:FSLR 89 Selling, General, & Admin. Expense is MXN3,949 Mil as of Mar. 2026. GuruFocus rates MEX:FSLR with a GF Score™ of 89/100 and a GF Value™ of MXN4,571.31 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. First Solar's selling, general, & admin. expense for the three months ended in Mar. 2026 was MXN1,178 Mil. Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was MXN3,949 Mil.


First Solar  (MEX:FSLR) Selling, General, & Admin. Expense Explanation

An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.

Warren Buffett likes companies with consistent SGA as the percentage of gross profit.

Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.

If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.


First Solar Selling, General, & Admin. Expense Related Terms


First Solar Selling, General, & Admin. Expense Historical Data

* Premium members only.

The historical data trend for First Solar's Selling, General, & Admin. Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First Solar Selling, General, & Admin. Expense Chart

First Solar Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Selling, General, & Admin. Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,493.94 3,211.46 3,354.49 3,926.34 3,668.82

First Solar Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Selling, General, & Admin. Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,087.64 990.23 868.12 912.55 1,178.09

MEX:FSLR vs NXT, ENPH, RUN: Selling, General, & Admin. Expense Comparison

For the Solar subindustry, First Solar's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Solar Selling, General, & Admin. Expense vs Semiconductors Industry

For the Semiconductors industry and Technology sector, First Solar's Selling, General, & Admin. Expense distribution charts can be found below:

* The bar in red indicates where First Solar's Selling, General, & Admin. Expense falls into.


MEX:FSLR
89GF Score
First Solar Inc MEX:FSLR
Selling, General, & Admin. Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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First Solar Selling, General, & Admin. Expense Calculation

Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.

Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN3,949 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Selling, General, & Admin. Expense of MXN3,949 Mil mean?
First Solar (MEX:FSLR) has a Selling, General, & Admin. Expense of MXN3,949 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on First Solar and its competitors.
Is First Solar's Selling, General, & Admin. Expense too high?
First Solar's current Selling, General, & Admin. Expense is MXN3,949 Mil. Overall, First Solar has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does First Solar's Selling, General, & Admin. Expense compare to NXT and ENPH?
First Solar's Selling, General, & Admin. Expense of MXN3,949 Mil can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Semiconductors company?
A good Selling, General, & Admin. Expense depends on the Semiconductors industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on First Solar and its competitors. First Solar's current Selling, General, & Admin. Expense is MXN3,949 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Solar stock overvalued right now?
Based on GuruFocus' analysis, First Solar (MEX:FSLR) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN4,571.31, compared to a current price of MXN3,856.00 — trading 15.6% below its estimated fair value. The current Selling, General, & Admin. Expense is MXN3,949 Mil. First Solar's overall GF Score™ is 89/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For First Solar (MEX:FSLR), the current Selling, General, & Admin. Expense is MXN3,949 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Solar (MEX:FSLR) Overvalued in 2026?

Based on GuruFocus' analysis, First Solar stock appears to be undervalued. The current stock price of MXN3,856.00 is trading 15.6% below its estimated GF Value™ of MXN4,571.31. GuruFocus considers First Solar to be Modestly Undervalued.

Key valuation signals for MEX:FSLR:

  • Selling, General, & Admin. Expense: MXN3,949 Mil
  • GF Value™: MXN4,571.31 vs. price of MXN3,856.00 (15.6% below fair value)
  • GF Score™: 89/100 with 5 warning signs

No single metric tells the full story. See the MEX:FSLR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


First Solar Business Description

Address 4300 East Camelback Road, Suite 220, Phoenix, AZ, USA, 85018
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
89GF Score

Get the complete analysis for MEX:FSLR

Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN3,856.00
Price
MXN4,571.31
GF Value