FIRST SOLAR INC (FSLR) Stock Fundamental Analysis

NASDAQ:FSLR • US3364331070

197.2 USD
-2.9 (-1.45%)
At close: Feb 27, 2026
196.24 USD
-0.96 (-0.49%)
After Hours: 2/27/2026, 8:05:44 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

FSLR gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 115 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. FSLR has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination! These ratings would make FSLR suitable for value and growth and quality investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • FSLR had positive earnings in the past year.
  • In the past year FSLR had a positive cash flow from operations.
  • Of the past 5 years FSLR 4 years were profitable.
  • 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 2025 0 500M -500M 1B 1.5B 2B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 11.47%, FSLR belongs to the top of the industry, outperforming 83.48% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 16.02%, FSLR belongs to the top of the industry, outperforming 80.87% of the companies in the same industry.
  • FSLR has a better Return On Invested Capital (11.40%) than 85.22% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for FSLR is in line with the industry average of 10.63%.
  • The last Return On Invested Capital (11.40%) for FSLR is above the 3 year average (10.03%), which is a sign of increasing profitability.
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

  • FSLR has a better Profit Margin (29.28%) than 87.83% of its industry peers.
  • FSLR's Profit Margin has improved in the last couple of years.
  • FSLR's Operating Margin of 30.59% is amongst the best of the industry. FSLR outperforms 90.43% of its industry peers.
  • FSLR's Operating Margin has improved in the last couple of years.
  • The Gross Margin of FSLR (40.62%) is comparable to the rest of the 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

7

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.
  • Compared to 1 year ago, FSLR has more shares outstanding
  • The number of shares outstanding for FSLR has been increased compared to 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 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 5.20 indicates that FSLR is not in any danger for bankruptcy at the moment.
  • FSLR has a Altman-Z score of 5.20. This is comparable to the rest of the industry: FSLR outperforms 58.26% of its industry peers.
  • The Debt to FCF ratio of FSLR is 0.45, which is an excellent value as it means it would take FSLR, only 0.45 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 0.45, FSLR is doing good in the industry, outperforming 78.26% of the companies in the same industry.
  • A Debt/Equity ratio of 0.03 indicates that FSLR is not too dependend on debt financing.
  • FSLR has a better Debt to Equity ratio (0.03) than 64.35% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.45
Altman-Z 5.2
ROIC/WACC1.08
WACC10.55%
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.
  • The Current ratio of FSLR (2.67) is comparable to the rest of the industry.
  • A Quick Ratio of 2.35 indicates that FSLR has no problem at all paying 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

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 14.14%, which is quite good.
  • The Earnings Per Share has been growing by 30.39% on average over the past years. This is a very strong growth
  • FSLR shows a strong growth in Revenue. In the last year, 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

  • FSLR is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.89% yearly.
  • The Revenue is expected to grow by 8.08% on average over the next years. This is quite good.
EPS Next Y61.21%
EPS Next 2Y42.29%
EPS Next 3Y32.03%
EPS Next 5Y17.89%
Revenue Next Year19.89%
Revenue Next 2Y17.31%
Revenue Next 3Y12.35%
Revenue Next 5Y8.08%

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 decreasing: in the next years the growth will be less 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

9

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 13.88, the valuation of FSLR can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 95.65% of the companies listed in the same industry.
  • FSLR's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.07.
  • With a Price/Forward Earnings ratio of 8.61, the valuation of FSLR can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, FSLR is valued cheaper than 99.13% of the companies in the same industry.
  • FSLR is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.05, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.88
Fwd PE 8.61
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

  • 95.65% of the companies in the same industry are more expensive than FSLR, based on the Enterprise Value to EBITDA ratio.
  • 93.04% of the companies in the same industry are more expensive than FSLR, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.82
EV/EBITDA 8.84
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.
  • The excellent profitability rating of FSLR may justify a higher PE ratio.
  • FSLR's earnings are expected to grow with 32.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.23
PEG (5Y)0.46
EPS Next 2Y42.29%
EPS Next 3Y32.03%

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

0

5. Dividend

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

FIRST SOLAR INC

NASDAQ:FSLR (2/27/2026, 8:05:44 PM)

After market: 196.24 -0.96 (-0.49%)

197.2

-2.9 (-1.45%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-24
Earnings (Next)04-27
Inst Owners104.86%
Inst Owner Change-4.79%
Ins Owners5.3%
Ins Owner Change-0.35%
Market Cap21.16B
Revenue(TTM)5.22B
Net Income(TTM)1.53B
Analysts78.37
Price Target281.48 (42.74%)
Short Float %7.48%
Short Ratio3.4
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)-1.07%
PT rev (3m)2.95%
EPS NQ rev (1m)-0.31%
EPS NQ rev (3m)-3.12%
EPS NY rev (1m)-0.06%
EPS NY rev (3m)-1.14%
Revenue NQ rev (1m)0.4%
Revenue NQ rev (3m)-1.72%
Revenue NY rev (1m)-0.51%
Revenue NY rev (3m)-0.72%
Valuation
Industry RankSector Rank
PE 13.88
Fwd PE 8.61
P/S 4.05
P/FCF 17.82
P/OCF 10.29
P/B 2.22
P/tB 2.24
EV/EBITDA 8.84
EPS(TTM)14.21
EY7.21%
EPS(NY)22.91
Fwd EY11.62%
FCF(TTM)11.06
FCFY5.61%
OCF(TTM)19.17
OCFY9.72%
SpS48.64
BVpS88.88
TBVpS88.12
PEG (NY)0.23
PEG (5Y)0.46
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 5.2
F-Score7
WACC10.55%
ROIC/WACC1.08
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 Y61.21%
EPS Next 2Y42.29%
EPS Next 3Y32.03%
EPS Next 5Y17.89%
Revenue 1Y (TTM)24.09%
Revenue growth 3Y25.84%
Revenue growth 5Y14%
Sales Q2Q%11.15%
Revenue Next Year19.89%
Revenue Next 2Y17.31%
Revenue Next 3Y12.35%
Revenue Next 5Y8.08%
EBIT growth 1Y14.57%
EBIT growth 3YN/A
EBIT growth 5Y37.62%
EBIT Next Year93.38%
EBIT Next 3Y38.77%
EBIT Next 5Y19.12%
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 FAQ

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

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


What is the valuation status for FSLR stock?

ChartMill assigns a valuation rating of 9 / 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 8 / 10.


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

The financial health rating of FIRST SOLAR INC (FSLR) is 7 / 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 61.21% in the next year.