FIRST SOLAR INC (FSLR) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:FSLR • US3364331070

227.74 USD
+1.5 (+0.66%)
At close: Feb 11, 2026
227.14 USD
-0.6 (-0.26%)
After Hours: 2/11/2026, 8:26:09 PM
Fundamental Rating

6

Overall FSLR gets a fundamental rating of 6 out of 10. We evaluated FSLR against 113 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR has an excellent profitability rating, but there are some minor concerns on its financial health. FSLR has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination! With these ratings, FSLR could be worth investigating further for value and growth investing!.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year FSLR was profitable.
  • In the past year FSLR had a positive cash flow from operations.
  • Of the past 5 years FSLR 4 years were profitable.
  • 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 0 500M -500M 1B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 10.41%, FSLR belongs to the top of the industry, outperforming 80.53% of the companies in the same industry.
  • FSLR has a better Return On Equity (15.53%) than 78.76% of its industry peers.
  • FSLR has a Return On Invested Capital of 11.26%. This is amongst the best in the industry. FSLR outperforms 84.07% of its industry peers.
Industry RankSector 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
FSLR Yearly ROA, ROE, ROICFSLR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15

1.3 Margins

  • FSLR has a better Profit Margin (27.73%) than 84.96% 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 89.38% of its industry peers.
  • In the last couple of years the Operating Margin of FSLR has grown nicely.
  • FSLR has a Gross Margin of 40.05%. This is comparable to the rest of the industry: FSLR outperforms 42.48% of its industry peers.
  • FSLR's Gross Margin has improved in the last couple of years.
Industry RankSector 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%
FSLR Yearly Profit, Operating, Gross MarginsFSLR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

5

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.
  • The number of shares outstanding for FSLR remains at a similar level 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 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 2B 4B 6B 8B 10B

2.2 Solvency

  • An Altman-Z score of 4.95 indicates that FSLR is not in any danger for bankruptcy at the moment.
  • FSLR has a Altman-Z score of 4.95. This is comparable to the rest of the industry: FSLR outperforms 56.64% 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.
  • FSLR has a better Debt to FCF ratio (1.28) than 70.80% 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.
  • FSLR's Debt to Equity ratio of 0.06 is fine compared to the rest of the industry. FSLR outperforms 61.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.06
Debt/FCF 1.28
Altman-Z 4.95
ROIC/WACC1.03
WACC10.94%
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 0 2B 4B 6B

2.3 Liquidity

  • FSLR has a Current Ratio of 1.91. 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 1.91, FSLR is doing worse than 76.11% of the companies in the same industry.
  • 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 73.45% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.91
Quick Ratio 1.55
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 1B 2B 3B 4B 5B

7

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 8.05% over the past year.
  • FSLR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 52.90% yearly.
  • 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

  • Based on estimates for the next years, FSLR will show a very strong growth in Earnings Per Share. The EPS will grow by 25.14% on average per year.
  • The Revenue is expected to grow by 13.30% on average over the next years. This is quite good.
EPS Next Y19.76%
EPS Next 2Y35.65%
EPS Next 3Y32.21%
EPS Next 5Y25.14%
Revenue Next Year21.81%
Revenue Next 2Y20.97%
Revenue Next 3Y18.73%
Revenue Next 5Y13.3%

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.
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

8

4. Valuation

4.1 Price/Earnings Ratio

  • FSLR is valuated rather expensively with a Price/Earnings ratio of 17.49.
  • Compared to the rest of the industry, the Price/Earnings ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 93.81% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of FSLR to the average of the S&P500 Index (28.18), we can say FSLR is valued slightly cheaper.
  • FSLR is valuated reasonably with a Price/Forward Earnings ratio of 9.94.
  • FSLR's Price/Forward Earnings ratio is rather cheap when compared to the industry. FSLR is cheaper than 97.35% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 28.01. FSLR is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 17.49
Fwd PE 9.94
FSLR Price Earnings VS Forward Price EarningsFSLR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 92.04% of the companies in the same industry are more expensive than FSLR, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 80.53% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 39.77
EV/EBITDA 11.36
FSLR Per share dataFSLR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The 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 32.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.89
PEG (5Y)0.33
EPS Next 2Y35.65%
EPS Next 3Y32.21%

0

5. Dividend

5.1 Amount

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

FIRST SOLAR INC

NASDAQ:FSLR (2/11/2026, 8:26:09 PM)

After market: 227.14 -0.6 (-0.26%)

227.74

+1.5 (+0.66%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)10-30
Earnings (Next)02-24
Inst Owners104.86%
Inst Owner Change-2.33%
Ins Owners5.3%
Ins Owner Change-0.65%
Market Cap24.44B
Revenue(TTM)5.05B
Net Income(TTM)1.40B
Analysts80.43
Price Target281.25 (23.5%)
Short Float %8.33%
Short Ratio3.98
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)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)2.13%
PT rev (3m)17.55%
EPS NQ rev (1m)-0.38%
EPS NQ rev (3m)-8.48%
EPS NY rev (1m)0.01%
EPS NY rev (3m)-3.95%
Revenue NQ rev (1m)-0.5%
Revenue NQ rev (3m)-12.25%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)-3.22%
Valuation
Industry RankSector Rank
PE 17.49
Fwd PE 9.94
P/S 4.84
P/FCF 39.77
P/OCF 15.03
P/B 2.71
P/tB 2.74
EV/EBITDA 11.36
EPS(TTM)13.02
EY5.72%
EPS(NY)22.91
Fwd EY10.06%
FCF(TTM)5.73
FCFY2.51%
OCF(TTM)15.15
OCFY6.65%
SpS47.07
BVpS84.01
TBVpS83.25
PEG (NY)0.89
PEG (5Y)0.33
Graham Number156.88
Profitability
Industry RankSector 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 RankSector 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 4.95
F-Score5
WACC10.94%
ROIC/WACC1.03
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 Y19.76%
EPS Next 2Y35.65%
EPS Next 3Y32.21%
EPS Next 5Y25.14%
Revenue 1Y (TTM)31.16%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
Revenue Next Year21.81%
Revenue Next 2Y20.97%
Revenue Next 3Y18.73%
Revenue Next 5Y13.3%
EBIT growth 1Y13.37%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year43.7%
EBIT Next 3Y37.73%
EBIT Next 5Y26.95%
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

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

ChartMill assigns a fundamental rating of 6 / 10 to FSLR.


What is the valuation status for 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.


What is the financial health of FIRST SOLAR INC (FSLR) stock?

The financial health rating of FIRST SOLAR INC (FSLR) is 5 / 10.


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 19.76% in the next year.