FIRST SOLAR INC (FSLR) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:FSLR • US3364331070

234.36 USD
-3.7 (-1.55%)
At close: Feb 5, 2026
234.36 USD
0 (0%)
After Hours: 2/5/2026, 5:20:00 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. While FSLR has a great profitability rating, there are some minor concerns on its financial health. FSLR is growing strongly while it also seems undervalued. This is an interesting 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

  • 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.
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

  • With a decent Return On Assets value of 10.41%, FSLR is doing good in the industry, outperforming 79.65% of the companies in the same industry.
  • FSLR has a better Return On Equity (15.53%) than 78.76% of its industry peers.
  • The Return On Invested Capital of FSLR (11.26%) is better than 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's Profit Margin of 27.73% is amongst the best of the industry. FSLR outperforms 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.
  • FSLR's Operating Margin has improved in the last couple of years.
  • FSLR has a Gross Margin (40.05%) which is in line with 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

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FSLR is creating some value.
  • FSLR has about the same amout of shares outstanding than it did 1 year ago.
  • 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.
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

  • FSLR has an Altman-Z score of 5.10. This indicates that FSLR is financially healthy and has little risk of bankruptcy at the moment.
  • FSLR's Altman-Z score of 5.10 is fine compared to the rest of the industry. FSLR outperforms 60.18% of its industry peers.
  • The Debt to FCF ratio of FSLR is 1.28, which is an excellent value as it means it would take FSLR, only 1.28 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.28, FSLR is in the better half of the industry, outperforming 72.57% of the companies in the same industry.
  • A Debt/Equity ratio of 0.06 indicates that FSLR is not too dependend on debt financing.
  • The Debt to Equity ratio of FSLR (0.06) is better than 61.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.06
Debt/FCF 1.28
Altman-Z 5.1
ROIC/WACC1.03
WACC10.95%
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

  • A Current Ratio of 1.91 indicates that FSLR should not have too much problems paying its short term obligations.
  • FSLR has a worse Current ratio (1.91) than 76.11% of its industry peers.
  • A Quick Ratio of 1.55 indicates that FSLR should not have too much problems paying its short term obligations.
  • FSLR has a Quick ratio of 1.55. This is in the lower half of the industry: FSLR underperforms 74.34% of its industry peers.
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

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

7

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.
  • FSLR shows a strong growth in Revenue. In the last year, the Revenue has grown by 31.16%.
  • The Revenue has been growing slightly by 6.55% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 25.14% on average over the next years. This is a very strong growth
  • FSLR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.30% yearly.
EPS Next Y19.73%
EPS Next 2Y35.69%
EPS Next 3Y32.43%
EPS Next 5Y25.14%
Revenue Next Year21.79%
Revenue Next 2Y21.13%
Revenue Next 3Y18.71%
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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 18.00, FSLR is valued on the expensive side.
  • Compared to the rest of the industry, the Price/Earnings ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 92.04% of the companies listed in the same industry.
  • FSLR is valuated rather cheaply when we compare the Price/Earnings ratio to 28.25, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 10.22, which indicates a very decent valuation of FSLR.
  • Based on the Price/Forward Earnings ratio, FSLR is valued cheaply inside the industry as 97.35% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.50, FSLR is valued rather cheaply.
Industry RankSector Rank
PE 18
Fwd PE 10.22
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

  • Based on the Enterprise Value to EBITDA ratio, FSLR is valued cheaper than 91.15% of the companies in the same industry.
  • FSLR's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. FSLR is cheaper than 75.22% of the companies in the same industry.
Industry RankSector Rank
P/FCF 40.92
EV/EBITDA 11.91
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 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 32.43% in the coming years.
PEG (NY)0.91
PEG (5Y)0.34
EPS Next 2Y35.69%
EPS Next 3Y32.43%

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

0

5. Dividend

5.1 Amount

  • No dividends for FSLR!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

FIRST SOLAR INC

NASDAQ:FSLR (2/5/2026, 5:20:00 PM)

After market: 234.36 0 (0%)

234.36

-3.7 (-1.55%)

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-2.45%
Ins Owners5.3%
Ins Owner Change-0.65%
Market Cap25.15B
Revenue(TTM)5.05B
Net Income(TTM)1.40B
Analysts80.43
Price Target284.51 (21.4%)
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)3.32%
PT rev (3m)18.92%
EPS NQ rev (1m)-0.38%
EPS NQ rev (3m)-8.69%
EPS NY rev (1m)-0.01%
EPS NY rev (3m)-3.97%
Revenue NQ rev (1m)-0.5%
Revenue NQ rev (3m)-12.45%
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)-3.24%
Valuation
Industry RankSector Rank
PE 18
Fwd PE 10.22
P/S 4.98
P/FCF 40.92
P/OCF 15.46
P/B 2.79
P/tB 2.82
EV/EBITDA 11.91
EPS(TTM)13.02
EY5.56%
EPS(NY)22.92
Fwd EY9.78%
FCF(TTM)5.73
FCFY2.44%
OCF(TTM)15.15
OCFY6.47%
SpS47.07
BVpS84.01
TBVpS83.25
PEG (NY)0.91
PEG (5Y)0.34
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 5.1
F-Score5
WACC10.95%
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 Y19.73%
EPS Next 2Y35.69%
EPS Next 3Y32.43%
EPS Next 5Y25.14%
Revenue 1Y (TTM)31.16%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%79.67%
Revenue Next Year21.79%
Revenue Next 2Y21.13%
Revenue Next 3Y18.71%
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 6 / 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 19.73% in the next year.