FIRST SOLAR INC (FSLR) Fundamental Analysis & Valuation

NASDAQ:FSLR • US3364331070

Current stock price

195.32 USD
-4.1 (-2.06%)
At close:
195.8 USD
+0.48 (+0.25%)
After Hours:

This FSLR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. FSLR Profitability Analysis

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.
  • Each year in the past 5 years FSLR had a positive operating cash flow.
FSLR Yearly Net Income VS EBIT VS OCF VS FCFFSLR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B 2B

1.2 Ratios

  • The Return On Assets of FSLR (11.47%) is better than 82.61% of its industry peers.
  • FSLR has a better Return On Equity (16.02%) than 80.87% of its industry peers.
  • FSLR has a better Return On Invested Capital (11.40%) than 84.35% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for FSLR is in line with the industry average of 10.70%.
  • The 3 year average ROIC (10.03%) for FSLR is below the current ROIC(11.40%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 11.47%
ROE 16.02%
ROIC 11.4%
ROA(3y)10.05%
ROA(5y)7.19%
ROE(3y)14.88%
ROE(5y)10.35%
ROIC(3y)10.03%
ROIC(5y)N/A
FSLR Yearly ROA, ROE, ROICFSLR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 15

1.3 Margins

  • The Profit Margin of FSLR (29.28%) is better than 87.83% 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 30.59%, FSLR belongs to the top of the industry, outperforming 90.43% of the companies in the same industry.
  • In the last couple of years the Operating Margin of FSLR has grown nicely.
  • Looking at the Gross Margin, with a value of 40.62%, FSLR is in line with its industry, outperforming 44.35% of the companies in the same industry.
  • FSLR's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 30.59%
PM (TTM) 29.28%
GM 40.62%
OM growth 3YN/A
OM growth 5Y20.72%
PM growth 3YN/A
PM growth 5Y14.79%
GM growth 3Y102.73%
GM growth 5Y10.1%
FSLR Yearly Profit, Operating, Gross MarginsFSLR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. FSLR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FSLR is destroying value.
  • The number of shares outstanding for FSLR has been increased compared to 1 year ago.
  • FSLR has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, FSLR has an improved debt to assets ratio.
FSLR Yearly Shares OutstandingFSLR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
FSLR Yearly Total Debt VS Total AssetsFSLR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • An Altman-Z score of 5.17 indicates that FSLR is not in any danger for bankruptcy at the moment.
  • FSLR has a Altman-Z score (5.17) which is in line with its industry peers.
  • FSLR has a debt to FCF ratio of 0.45. This is a very positive value and a sign of high solvency as it would only need 0.45 years to pay back of all of its debts.
  • FSLR has a Debt to FCF ratio of 0.45. This is in the better half of the industry: FSLR outperforms 79.13% of its industry peers.
  • A Debt/Equity ratio of 0.03 indicates that FSLR is not too dependend on debt financing.
  • The Debt to Equity ratio of FSLR (0.03) is better than 63.48% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.45
Altman-Z 5.17
ROIC/WACC1
WACC11.43%
FSLR Yearly LT Debt VS Equity VS FCFFSLR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • FSLR has a Current Ratio of 2.67. This indicates that FSLR is financially healthy and has no problem in meeting its short term obligations.
  • FSLR's Current ratio of 2.67 is in line compared to the rest of the industry. FSLR outperforms 44.35% of its industry peers.
  • FSLR has a Quick Ratio of 2.35. This indicates that FSLR is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of FSLR (2.35) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.67
Quick Ratio 2.35
FSLR Yearly Current Assets VS Current LiabilitesFSLR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. FSLR Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 14.14% 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 30.39% on average per year.
  • Looking at the last year, FSLR shows a very strong growth in Revenue. The Revenue has grown by 24.09%.
  • The Revenue has been growing by 14.00% on average over the past years. This is quite good.
EPS 1Y (TTM)14.14%
EPS 3YN/A
EPS 5Y30.39%
EPS Q2Q%32.6%
Revenue 1Y (TTM)24.09%
Revenue growth 3Y25.84%
Revenue growth 5Y14%
Sales Q2Q%11.15%

3.2 Future

  • The Earnings Per Share is expected to grow by 15.46% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 7.76% on average over the next years.
EPS Next Y30.85%
EPS Next 2Y30.85%
EPS Next 3Y27.32%
EPS Next 5Y15.46%
Revenue Next Year1.75%
Revenue Next 2Y9.17%
Revenue Next 3Y9.57%
Revenue Next 5Y7.76%

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 decreasing.
FSLR Yearly Revenue VS EstimatesFSLR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B
FSLR Yearly EPS VS EstimatesFSLR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 10 20 30

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9

4. FSLR Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 13.75 indicates a correct valuation of FSLR.
  • 94.78% of the companies in the same industry are more expensive than FSLR, based on the Price/Earnings ratio.
  • FSLR's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.60.
  • A Price/Forward Earnings ratio of 10.50 indicates a reasonable valuation of FSLR.
  • Based on the Price/Forward Earnings ratio, FSLR is valued cheaper than 98.26% of the companies in the same industry.
  • FSLR's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.84.
Industry RankSector Rank
PE 13.75
Fwd PE 10.5
FSLR Price Earnings VS Forward Price EarningsFSLR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, FSLR is valued cheaply inside the industry as 95.65% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, FSLR is valued cheaply inside the industry as 93.04% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 17.65
EV/EBITDA 8.74
FSLR Per share dataFSLR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

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 an outstanding profitability rating, which may justify a higher PE ratio.
  • FSLR's earnings are expected to grow with 27.32% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.45
PEG (5Y)0.45
EPS Next 2Y30.85%
EPS Next 3Y27.32%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. FSLR Dividend Analysis

5.1 Amount

  • FSLR does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

FSLR Fundamentals: All Metrics, Ratios and Statistics

FIRST SOLAR INC

NASDAQ:FSLR (4/2/2026, 8:28:00 PM)

After market: 195.8 +0.48 (+0.25%)

195.32

-4.1 (-2.06%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-24
Earnings (Next)04-23
Inst Owners99.25%
Inst Owner Change-4.75%
Ins Owners5.3%
Ins Owner Change-0.07%
Market Cap20.96B
Revenue(TTM)5.22B
Net Income(TTM)1.53B
Analysts74.29
Price Target255.32 (30.72%)
Short Float %7.65%
Short Ratio3.27
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)0
Avg EPS beat(2)-5.1%
Min EPS beat(2)-7.93%
Max EPS beat(2)-2.26%
EPS beat(4)1
Avg EPS beat(4)-4.01%
Min EPS beat(4)-23.4%
Max EPS beat(4)17.54%
EPS beat(8)4
Avg EPS beat(8)-1.01%
EPS beat(12)7
Avg EPS beat(12)1.12%
EPS beat(16)9
Avg EPS beat(16)-21.81%
Revenue beat(2)2
Avg Revenue beat(2)2.87%
Min Revenue beat(2)0.18%
Max Revenue beat(2)5.57%
Revenue beat(4)3
Avg Revenue beat(4)2.2%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)5.57%
Revenue beat(8)6
Avg Revenue beat(8)0.89%
Revenue beat(12)7
Avg Revenue beat(12)-2.82%
Revenue beat(16)8
Avg Revenue beat(16)-5.66%
PT rev (1m)-9.29%
PT rev (3m)-7.28%
EPS NQ rev (1m)-32.57%
EPS NQ rev (3m)-34.41%
EPS NY rev (1m)-18.83%
EPS NY rev (3m)-19.11%
Revenue NQ rev (1m)-15.57%
Revenue NQ rev (3m)-16.89%
Revenue NY rev (1m)-15.13%
Revenue NY rev (3m)-16.07%
Valuation
Industry RankSector Rank
PE 13.75
Fwd PE 10.5
P/S 4.02
P/FCF 17.65
P/OCF 10.19
P/B 2.2
P/tB 2.22
EV/EBITDA 8.74
EPS(TTM)14.21
EY7.28%
EPS(NY)18.59
Fwd EY9.52%
FCF(TTM)11.06
FCFY5.66%
OCF(TTM)19.17
OCFY9.81%
SpS48.64
BVpS88.88
TBVpS88.12
PEG (NY)0.45
PEG (5Y)0.45
Graham Number168.58
Profitability
Industry RankSector Rank
ROA 11.47%
ROE 16.02%
ROCE 14.43%
ROIC 11.4%
ROICexc 15.36%
ROICexgc 15.52%
OM 30.59%
PM (TTM) 29.28%
GM 40.62%
FCFM 22.75%
ROA(3y)10.05%
ROA(5y)7.19%
ROE(3y)14.88%
ROE(5y)10.35%
ROIC(3y)10.03%
ROIC(5y)N/A
ROICexc(3y)12.92%
ROICexc(5y)N/A
ROICexgc(3y)13.06%
ROICexgc(5y)N/A
ROCE(3y)12.69%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y21.96%
ROICexc growth 3YN/A
ROICexc growth 5Y22.1%
OM growth 3YN/A
OM growth 5Y20.72%
PM growth 3YN/A
PM growth 5Y14.79%
GM growth 3Y102.73%
GM growth 5Y10.1%
F-Score7
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.45
Debt/EBITDA 0.15
Cap/Depr 164.37%
Cap/Sales 16.67%
Interest Coverage 250
Cash Conversion 96.76%
Profit Quality 77.69%
Current Ratio 2.67
Quick Ratio 2.35
Altman-Z 5.17
F-Score7
WACC11.43%
ROIC/WACC1
Cap/Depr(3y)324.99%
Cap/Depr(5y)303.58%
Cap/Sales(3y)31.58%
Cap/Sales(5y)29.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.14%
EPS 3YN/A
EPS 5Y30.39%
EPS Q2Q%32.6%
EPS Next Y30.85%
EPS Next 2Y30.85%
EPS Next 3Y27.32%
EPS Next 5Y15.46%
Revenue 1Y (TTM)24.09%
Revenue growth 3Y25.84%
Revenue growth 5Y14%
Sales Q2Q%11.15%
Revenue Next Year1.75%
Revenue Next 2Y9.17%
Revenue Next 3Y9.57%
Revenue Next 5Y7.76%
EBIT growth 1Y14.57%
EBIT growth 3YN/A
EBIT growth 5Y37.62%
EBIT Next Year56.59%
EBIT Next 3Y34.45%
EBIT Next 5Y18.19%
FCF growth 1Y485.37%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y68.89%
OCF growth 3Y33.05%
OCF growth 5Y123.24%

FIRST SOLAR INC / FSLR Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for FIRST SOLAR INC?

ChartMill assigns a fundamental rating of 7 / 10 to FSLR.


Can you provide the valuation status for FIRST SOLAR INC?

ChartMill assigns a valuation rating of 9 / 10 to FIRST SOLAR INC (FSLR). This can be considered as Undervalued.


What is the profitability of FSLR stock?

FIRST SOLAR INC (FSLR) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for FSLR stock?

The Price/Earnings (PE) ratio for FIRST SOLAR INC (FSLR) is 13.75 and the Price/Book (PB) ratio is 2.2.


What is the expected EPS growth for FIRST SOLAR INC (FSLR) stock?

The Earnings per Share (EPS) of FIRST SOLAR INC (FSLR) is expected to grow by 30.85% in the next year.