FIRST SOLAR INC (FSLR) Stock Fundamental Analysis
USA - NASDAQ:FSLR - US3364331070 - Common Stock
214.02 USD
+4.39 (+2.09%)
We assign a fundamental rating of 6 out of 10 to FSLR. FSLR was compared to 112 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR has an excellent profitability rating, but there are concerns on its financial health. FSLR is evaluated to be cheap and growing strongly. This does not happen too often!
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
With an excellent Return On Assets value of 9.78%, FSLR belongs to the best of the industry, outperforming 81.25% of the companies in the same industry.
The Return On Equity of FSLR (14.71%) is better than 80.36% of its industry peers.
The Return On Invested Capital of FSLR (10.34%) is better than 80.36% 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
FSLR has a better Profit Margin (28.95%) than 88.39% of its industry peers.
In the last couple of years the Profit Margin of FSLR has grown nicely.
The Operating Margin of FSLR (31.35%) is better than 91.07% of its industry peers.
FSLR's Operating Margin has improved in the last couple of years.
FSLR has a Gross Margin (42.76%) which is in line with its industry peers.
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.
The number of shares outstanding for FSLR remains at a similar level compared to 1 year ago.
Compared to 5 years ago, FSLR has more shares outstanding
The debt/assets ratio for FSLR has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 4.69 indicates that FSLR is not in any danger for bankruptcy at the moment.
FSLR has a Altman-Z score (4.69) which is in line with its industry peers.
A Debt/Equity ratio of 0.09 indicates that FSLR is not too dependend on debt financing.
FSLR has a Debt to Equity ratio of 0.09. This is comparable to the rest of the industry: FSLR outperforms 55.36% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 4.69 |
ROIC/WACC0.91
WACC11.31%
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.
With a Current ratio value of 1.90, FSLR is not doing good in the industry: 74.11% of the companies in the same industry are doing better.
FSLR has a Quick Ratio of 1.41. This is a normal value and indicates that FSLR is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of FSLR (1.41) is worse than 76.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.9 | ||
| Quick Ratio | 1.41 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 8.30% over the past year.
The Earnings Per Share has been growing by 52.90% on average over the past years. This is a very strong growth
The Revenue has grown by 15.39% in the past year. This is quite good.
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)8.3%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-2.15%
Revenue 1Y (TTM)15.39%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%8.58%
3.2 Future
The Earnings Per Share is expected to grow by 21.64% on average over the next years. This is a very strong growth
Based on estimates for the next years, FSLR will show a quite strong growth in Revenue. The Revenue will grow by 12.17% on average per year.
EPS Next Y25.31%
EPS Next 2Y38.02%
EPS Next 3Y31.8%
EPS Next 5Y21.64%
Revenue Next Year26.05%
Revenue Next 2Y22.46%
Revenue Next 3Y18.96%
Revenue Next 5Y12.17%
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.
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
A Price/Earnings ratio of 17.64 indicates a rather expensive valuation of FSLR.
90.18% of the companies in the same industry are more expensive than FSLR, based on the Price/Earnings ratio.
FSLR is valuated rather cheaply when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 9.02, which indicates a very decent valuation of FSLR.
99.11% of the companies in the same industry are more expensive than FSLR, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.88, FSLR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.64 | ||
| Fwd PE | 9.02 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FSLR is valued cheaper than 90.18% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 11.86 |
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.
The excellent profitability rating of FSLR may justify a higher PE ratio.
A more expensive valuation may be justified as FSLR's earnings are expected to grow with 31.80% in the coming years.
PEG (NY)0.7
PEG (5Y)0.33
EPS Next 2Y38.02%
EPS Next 3Y31.8%
5. Dividend
5.1 Amount
No dividends for FSLR!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
NASDAQ:FSLR (9/19/2025, 3:43:02 PM)
214.02
+4.39 (+2.09%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners97.05%
Inst Owner Change3.84%
Ins Owners5.37%
Ins Owner Change-0.52%
Market Cap22.95B
Analysts81.7
Price Target222.49 (3.96%)
Short Float %9.49%
Short Ratio3.31
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)4.26%
PT rev (3m)9.98%
EPS NQ rev (1m)0.28%
EPS NQ rev (3m)-19.34%
EPS NY rev (1m)2.03%
EPS NY rev (3m)2.04%
Revenue NQ rev (1m)0.7%
Revenue NQ rev (3m)2.52%
Revenue NY rev (1m)4.14%
Revenue NY rev (3m)4.56%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.64 | ||
| Fwd PE | 9.02 | ||
| P/S | 5.28 | ||
| P/FCF | N/A | ||
| P/OCF | 76.8 | ||
| P/B | 2.69 | ||
| P/tB | 2.71 | ||
| EV/EBITDA | 11.86 |
EPS(TTM)12.13
EY5.67%
EPS(NY)23.72
Fwd EY11.08%
FCF(TTM)-8.79
FCFYN/A
OCF(TTM)2.79
OCFY1.3%
SpS40.5
BVpS79.68
TBVpS78.91
PEG (NY)0.7
PEG (5Y)0.33
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
ROICexcg growth 3Y23.05%
ROICexcg 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 | 4.69 |
F-Score3
WACC11.31%
ROIC/WACC0.91
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)8.3%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-2.15%
EPS Next Y25.31%
EPS Next 2Y38.02%
EPS Next 3Y31.8%
EPS Next 5Y21.64%
Revenue 1Y (TTM)15.39%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%8.58%
Revenue Next Year26.05%
Revenue Next 2Y22.46%
Revenue Next 3Y18.96%
Revenue Next 5Y12.17%
EBIT growth 1Y6.46%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year49.77%
EBIT Next 3Y36.71%
EBIT Next 5Y25.29%
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%