FIRST SOLAR INC (FSLR) Stock Fundamental Analysis
USA - NASDAQ:FSLR - US3364331070 - Common Stock
266.94 USD
+33.36 (+14.28%)
267.2 USD
+0.26 (+0.1%)
Overall FSLR gets a fundamental rating of 5 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 quite some concerns on its financial health. FSLR is not overvalued while it is showing excellent growth. This is an interesting combination.
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.
FSLR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 9.78%, FSLR belongs to the top of the industry, outperforming 80.36% of the companies in the same industry.
FSLR has a Return On Equity of 14.71%. This is in the better half of the industry: FSLR outperforms 79.46% of its industry peers.
FSLR has a better Return On Invested Capital (10.34%) than 79.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.78% | ||
| ROE | 14.71% | ||
| ROIC | 10.34% |
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
The Profit Margin of FSLR (28.95%) is better than 88.39% of its industry peers.
FSLR's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 31.35%, FSLR belongs to the top of the industry, outperforming 91.07% of the companies in the same industry.
FSLR's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 42.76%, FSLR is in line with its industry, outperforming 46.43% of the companies in the same industry.
In the last couple of years the Gross Margin of FSLR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.35% | ||
| PM (TTM) | 28.95% | ||
| GM | 42.76% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FSLR is destroying value.
Compared to 1 year ago, FSLR has about the same amount of shares outstanding.
FSLR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for FSLR has been reduced compared to a year ago.
2.2 Solvency
FSLR has an Altman-Z score of 5.54. This indicates that FSLR is financially healthy and has little risk of bankruptcy at the moment.
FSLR has a Altman-Z score (5.54) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.09 indicates that FSLR is not too dependend on debt financing.
FSLR has a Debt to Equity ratio (0.09) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 5.54 |
ROIC/WACC0.88
WACC11.76%
2.3 Liquidity
FSLR has a Current Ratio of 1.90. This is a normal value and indicates that FSLR is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.90, FSLR is doing worse than 72.32% of the companies in the same industry.
A Quick Ratio of 1.41 indicates that FSLR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.41, FSLR is doing worse than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.9 | ||
| Quick Ratio | 1.41 |
3. Growth
3.1 Past
FSLR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.05%, which is quite good.
FSLR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 52.90% yearly.
The Revenue has grown by 26.75% in the past year. This is a very strong growth!
FSLR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.55% yearly.
EPS 1Y (TTM)8.05%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%26.57%
Revenue 1Y (TTM)26.75%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
3.2 Future
The Earnings Per Share is expected to grow by 22.03% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 12.57% on average over the next years. This is quite good.
EPS Next Y24.68%
EPS Next 2Y36.83%
EPS Next 3Y31.89%
EPS Next 5Y22.03%
Revenue Next Year25.86%
Revenue Next 2Y21.82%
Revenue Next 3Y18.79%
Revenue Next 5Y12.57%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 20.50 indicates a rather expensive valuation of FSLR.
Based on the Price/Earnings ratio, FSLR is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of FSLR to the average of the S&P500 Index (26.11), we can say FSLR is valued slightly cheaper.
FSLR is valuated reasonably with a Price/Forward Earnings ratio of 11.45.
Based on the Price/Forward Earnings ratio, FSLR is valued cheaper than 99.11% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.55. FSLR is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.5 | ||
| Fwd PE | 11.45 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 80.36% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.18 |
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.
A more expensive valuation may be justified as FSLR's earnings are expected to grow with 31.89% in the coming years.
PEG (NY)0.83
PEG (5Y)0.39
EPS Next 2Y36.83%
EPS Next 3Y31.89%
5. Dividend
5.1 Amount
FSLR does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
266.94
+33.36 (+14.28%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners106.4%
Inst Owner Change-0.16%
Ins Owners5.34%
Ins Owner Change-0.48%
Market Cap28.63B
Revenue(TTM)4.21B
Net Income(TTM)1.26B
Analysts82.17
Price Target239.26 (-10.37%)
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)-2.93%
Min EPS beat(2)-23.4%
Max EPS beat(2)17.54%
EPS beat(4)2
Avg EPS beat(4)-6.25%
Min EPS beat(4)-23.86%
Max EPS beat(4)17.54%
EPS beat(8)6
Avg EPS beat(8)2.86%
EPS beat(12)8
Avg EPS beat(12)1.19%
EPS beat(16)10
Avg EPS beat(16)-22.2%
Revenue beat(2)1
Avg Revenue beat(2)1.53%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)4.39%
Revenue beat(4)2
Avg Revenue beat(4)-3.69%
Min Revenue beat(4)-19.01%
Max Revenue beat(4)4.39%
Revenue beat(8)4
Avg Revenue beat(8)-3.08%
Revenue beat(12)5
Avg Revenue beat(12)-4.82%
Revenue beat(16)6
Avg Revenue beat(16)-7.24%
PT rev (1m)7.54%
PT rev (3m)17.24%
EPS NQ rev (1m)-1.07%
EPS NQ rev (3m)-4.32%
EPS NY rev (1m)-0.71%
EPS NY rev (3m)1.51%
Revenue NQ rev (1m)0.95%
Revenue NQ rev (3m)11.56%
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)4.55%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.5 | ||
| Fwd PE | 11.45 | ||
| P/S | 6.59 | ||
| P/FCF | N/A | ||
| P/OCF | 95.8 | ||
| P/B | 3.35 | ||
| P/tB | 3.38 | ||
| EV/EBITDA | 15.18 |
EPS(TTM)13.02
EY4.88%
EPS(NY)23.31
Fwd EY8.73%
FCF(TTM)-8.79
FCFYN/A
OCF(TTM)2.79
OCFY1.04%
SpS40.5
BVpS79.68
TBVpS78.91
PEG (NY)0.83
PEG (5Y)0.39
Graham Number152.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.78% | ||
| ROE | 14.71% | ||
| ROCE | 13.61% | ||
| ROIC | 10.34% | ||
| ROICexc | 11.63% | ||
| ROICexgc | 11.74% | ||
| OM | 31.35% | ||
| PM (TTM) | 28.95% | ||
| GM | 42.76% | ||
| FCFM | N/A |
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-Score3
Asset Turnover0.34
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.41 | ||
| Cap/Depr | 255.41% | ||
| Cap/Sales | 28.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 16.17% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.9 | ||
| Quick Ratio | 1.41 | ||
| Altman-Z | 5.54 |
F-Score3
WACC11.76%
ROIC/WACC0.88
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 Y24.68%
EPS Next 2Y36.83%
EPS Next 3Y31.89%
EPS Next 5Y22.03%
Revenue 1Y (TTM)26.75%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
Revenue Next Year25.86%
Revenue Next 2Y21.82%
Revenue Next 3Y18.79%
Revenue Next 5Y12.57%
EBIT growth 1Y6.46%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year50.42%
EBIT Next 3Y37.57%
EBIT Next 5Y25.4%
FCF growth 1Y-87.04%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-62.64%
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 5 / 10 to FSLR.
What is the valuation status of FIRST SOLAR INC (FSLR) stock?
ChartMill assigns a valuation rating of 6 / 10 to FIRST SOLAR INC (FSLR). This can be considered as Fairly Valued.
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 20.5 and the Price/Book (PB) ratio is 3.35.