FIRST SOLAR INC (FSLR) Stock Fundamental Analysis
USA - NASDAQ:FSLR - US3364331070 - Common Stock
253.08 USD
-3.51 (-1.37%)
254.99 USD
+1.91 (+0.75%)
Overall FSLR gets a fundamental rating of 6 out of 10. We evaluated FSLR against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. While FSLR has a great profitability rating, there are some minor concerns on its financial health. FSLR is evaluated to be cheap and growing strongly. This does not happen too often! With these ratings, FSLR could be worth investigating further for value and growth investing!.
1. Profitability
1.1 Basic Checks
FSLR had positive earnings in the past year.
FSLR had a positive operating cash flow in the past year.
FSLR had positive earnings in 4 of the past 5 years.
In the past 5 years FSLR always reported a positive cash flow from operatings.
1.2 Ratios
FSLR has a better Return On Assets (10.41%) than 81.25% of its industry peers.
FSLR has a Return On Equity of 15.53%. This is in the better half of the industry: FSLR outperforms 79.46% of its industry peers.
The Return On Invested Capital of FSLR (11.26%) is better than 84.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.41% | ||
| ROE | 15.53% | ||
| ROIC | 11.26% |
ROA(3y)6.05%
ROA(5y)6.01%
ROE(3y)9.29%
ROE(5y)8.59%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
FSLR has a Profit Margin of 27.73%. This is amongst the best in the industry. FSLR outperforms 87.50% of its industry peers.
In the last couple of years the Profit Margin of FSLR has grown nicely.
FSLR's Operating Margin of 29.81% is amongst the best of the industry. FSLR outperforms 90.18% of its industry peers.
FSLR's Operating Margin has improved in the last couple of years.
FSLR has a Gross Margin (40.05%) which is comparable to the rest of the industry.
FSLR's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.81% | ||
| PM (TTM) | 27.73% | ||
| GM | 40.05% |
OM growth 3Y30.14%
OM growth 5Y38.22%
PM growth 3Y24.2%
PM growth 5YN/A
GM growth 3Y20.94%
GM growth 5Y19.76%
2. Health
2.1 Basic Checks
FSLR has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
FSLR has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, FSLR has more shares outstanding
FSLR has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 5.31 indicates that FSLR is not in any danger for bankruptcy at the moment.
FSLR has a Altman-Z score of 5.31. This is in the better half of the industry: FSLR outperforms 61.61% of its industry peers.
FSLR has a debt to FCF ratio of 1.28. This is a very positive value and a sign of high solvency as it would only need 1.28 years to pay back of all of its debts.
The Debt to FCF ratio of FSLR (1.28) is better than 72.32% of its industry peers.
FSLR has a Debt/Equity ratio of 0.06. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.06, FSLR is in the better half of the industry, outperforming 60.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.06 | ||
| Debt/FCF | 1.28 | ||
| Altman-Z | 5.31 |
ROIC/WACC1.05
WACC10.74%
2.3 Liquidity
A Current Ratio of 1.91 indicates that FSLR should not have too much problems paying its short term obligations.
FSLR has a Current ratio of 1.91. This is in the lower half of the industry: FSLR underperforms 73.21% of its industry peers.
A Quick Ratio of 1.55 indicates that FSLR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.55, FSLR is doing worse than 70.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.91 | ||
| Quick Ratio | 1.55 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 8.05% over the past year.
Measured over the past years, FSLR shows a very strong growth in Earnings Per Share. The EPS has been growing by 52.90% on average per year.
Looking at the last year, FSLR shows a very strong growth in Revenue. The Revenue has grown by 31.16%.
Measured over the past years, FSLR shows a small growth in Revenue. The Revenue has been growing by 6.55% on average per year.
EPS 1Y (TTM)8.05%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%26.57%
Revenue 1Y (TTM)31.16%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
3.2 Future
FSLR is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.29% yearly.
Based on estimates for the next years, FSLR will show a quite strong growth in Revenue. The Revenue will grow by 13.02% on average per year.
EPS Next Y20.89%
EPS Next 2Y36.43%
EPS Next 3Y32.59%
EPS Next 5Y25.29%
Revenue Next Year23.08%
Revenue Next 2Y21.26%
Revenue Next 3Y18.94%
Revenue Next 5Y13.02%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 19.44, FSLR is valued on the expensive side.
86.61% of the companies in the same industry are more expensive than FSLR, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of FSLR to the average of the S&P500 Index (25.89), we can say FSLR is valued slightly cheaper.
The Price/Forward Earnings ratio is 10.92, which indicates a very decent valuation of FSLR.
Based on the Price/Forward Earnings ratio, FSLR is valued cheaply inside the industry as 98.21% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of FSLR to the average of the S&P500 Index (34.59), we can say FSLR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.44 | ||
| Fwd PE | 10.92 |
4.2 Price Multiples
84.82% of the companies in the same industry are more expensive than FSLR, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, FSLR is valued a bit cheaper than the industry average as 66.96% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 44.17 | ||
| EV/EBITDA | 12.7 |
4.3 Compensation for Growth
FSLR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
FSLR has a very decent profitability rating, which may justify a higher PE ratio.
FSLR's earnings are expected to grow with 32.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.93
PEG (5Y)0.37
EPS Next 2Y36.43%
EPS Next 3Y32.59%
5. Dividend
5.1 Amount
No dividends for FSLR!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
253.08
-3.51 (-1.37%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners106.4%
Inst Owner Change0.52%
Ins Owners5.34%
Ins Owner Change-0.82%
Market Cap27.14B
Revenue(TTM)5.05B
Net Income(TTM)1.40B
Analysts81.28
Price Target239.26 (-5.46%)
Short Float %8.31%
Short Ratio3.17
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7.64%
Min EPS beat(2)-2.26%
Max EPS beat(2)17.54%
EPS beat(4)1
Avg EPS beat(4)-8%
Min EPS beat(4)-23.86%
Max EPS beat(4)17.54%
EPS beat(8)5
Avg EPS beat(8)0.2%
EPS beat(12)8
Avg EPS beat(12)6.46%
EPS beat(16)10
Avg EPS beat(16)-20.46%
Revenue beat(2)2
Avg Revenue beat(2)2.29%
Min Revenue beat(2)0.18%
Max Revenue beat(2)4.39%
Revenue beat(4)3
Avg Revenue beat(4)1.11%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)4.39%
Revenue beat(8)5
Avg Revenue beat(8)-1.53%
Revenue beat(12)6
Avg Revenue beat(12)-3.33%
Revenue beat(16)7
Avg Revenue beat(16)-6.2%
PT rev (1m)6.89%
PT rev (3m)12.11%
EPS NQ rev (1m)-8.46%
EPS NQ rev (3m)-10%
EPS NY rev (1m)-3.73%
EPS NY rev (3m)-1.57%
Revenue NQ rev (1m)-11.5%
Revenue NQ rev (3m)-12.22%
Revenue NY rev (1m)-2.45%
Revenue NY rev (3m)1.68%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.44 | ||
| Fwd PE | 10.92 | ||
| P/S | 5.37 | ||
| P/FCF | 44.17 | ||
| P/OCF | 16.69 | ||
| P/B | 3.01 | ||
| P/tB | 3.04 | ||
| EV/EBITDA | 12.7 |
EPS(TTM)13.02
EY5.14%
EPS(NY)23.17
Fwd EY9.16%
FCF(TTM)5.73
FCFY2.26%
OCF(TTM)15.16
OCFY5.99%
SpS47.09
BVpS84.06
TBVpS83.29
PEG (NY)0.93
PEG (5Y)0.37
Graham Number156.92
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.41% | ||
| ROE | 15.53% | ||
| ROCE | 14.52% | ||
| ROIC | 11.26% | ||
| ROICexc | 13.96% | ||
| ROICexgc | 14.09% | ||
| OM | 29.81% | ||
| PM (TTM) | 27.73% | ||
| GM | 40.05% | ||
| FCFM | 12.17% |
ROA(3y)6.05%
ROA(5y)6.01%
ROE(3y)9.29%
ROE(5y)8.59%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3Y23.05%
ROICexgc growth 5Y27.37%
ROICexc growth 3Y23.15%
ROICexc growth 5Y27.62%
OM growth 3Y30.14%
OM growth 5Y38.22%
PM growth 3Y24.2%
PM growth 5YN/A
GM growth 3Y20.94%
GM growth 5Y19.76%
F-Score5
Asset Turnover0.38
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.06 | ||
| Debt/FCF | 1.28 | ||
| Debt/EBITDA | 0.25 | ||
| Cap/Depr | 197.21% | ||
| Cap/Sales | 20.03% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 80.56% | ||
| Profit Quality | 43.88% | ||
| Current Ratio | 1.91 | ||
| Quick Ratio | 1.55 | ||
| Altman-Z | 5.31 |
F-Score5
WACC10.74%
ROIC/WACC1.05
Cap/Depr(3y)381.88%
Cap/Depr(5y)306.48%
Cap/Sales(3y)37.52%
Cap/Sales(5y)29.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.05%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%26.57%
EPS Next Y20.89%
EPS Next 2Y36.43%
EPS Next 3Y32.59%
EPS Next 5Y25.29%
Revenue 1Y (TTM)31.16%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
Revenue Next Year23.08%
Revenue Next 2Y21.26%
Revenue Next 3Y18.94%
Revenue Next 5Y13.02%
EBIT growth 1Y13.37%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year50.42%
EBIT Next 3Y37.57%
EBIT Next 5Y26.64%
FCF growth 1Y215.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y94.43%
OCF growth 3Y72.43%
OCF growth 5Y47.54%
FIRST SOLAR INC / FSLR FAQ
What is the fundamental rating for FSLR stock?
ChartMill assigns a fundamental rating of 6 / 10 to FSLR.
What is the valuation status of FIRST SOLAR INC (FSLR) stock?
ChartMill assigns a valuation rating of 8 / 10 to FIRST SOLAR INC (FSLR). This can be considered as Undervalued.
Can you provide the profitability details for FIRST SOLAR INC?
FIRST SOLAR INC (FSLR) has a profitability rating of 7 / 10.
Can you provide the PE and PB ratios for FSLR stock?
The Price/Earnings (PE) ratio for FIRST SOLAR INC (FSLR) is 19.44 and the Price/Book (PB) ratio is 3.01.