(FSLR) First Solar - Overview
Sector: Technology | Industry: Solar | Exchange: NASDAQ (USA) | Market Cap: 25.076m USD | Total Return: 41.7% in 12m
Solar Modules, Thin Film, Semiconductors, Photovoltaic
Total Rating 48
Safety 99
Buy Signal 0.31
Solar
Industry Rotation: +27.5
Industry Rotation: +27.5
Market Cap:
25.1B
Avg Turnover: 500M
Avg Turnover: 500M
Risk 3d forecast
Volatility51.9%
VaR 5th Pctl8.19%
VaR vs Median-4.36%
Reward TTM
Sharpe Ratio0.69
Rel. Str. IBD48.5
Rel. Str. Peer Group9.3
Character TTM
Beta1.301
Beta Downside0.749
Hurst Exponent0.407
Drawdowns 3y
Max DD59.97%
CAGR/Max DD0.08
CAGR/Mean DD0.18
EPS (Earnings per Share)
EPS CAGR: 93.79%
EPS Trend: 84.4%
EPS Trend: 84.4%
Last SUE: -2.29
Qual. Beats: -1
Qual. Beats: -1
Revenue
Rev. CAGR: 14.87%
Rev. Trend: 73.9%
Rev. Trend: 73.9%
Last SUE: -0.04
Qual. Beats: 0
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Description: FSLR First Solar
First Solar, Inc. is a leading manufacturer of solar energy solutions, specializing in thin-film photovoltaic (PV) modules. Unlike the majority of the solar industry which relies on crystalline silicon, First Solar utilizes cadmium telluride (CdTe) technology to convert sunlight into electricity. The company operates vertically integrated manufacturing facilities and supplies large-scale power projects, utilities, and corporate energy buyers across North America, Asia, and Europe.
The thin-film semiconductor sector is characterized by lower manufacturing energy intensity and a smaller carbon footprint compared to traditional silicon-based panels. First Solar’s business model focuses on utility-scale markets where its proprietary technology offers performance advantages in high-temperature and high-humidity environments. Investors can explore detailed valuation metrics and historical performance for this ticker on ValueRay.
Founded in 1999 and headquartered in Phoenix, Arizona, the firm has transitioned from a systems developer to a pure-play module manufacturer. This strategic shift allows the company to focus on scaling its advanced production capacity to meet increasing global demand for renewable energy infrastructure.
- IRA Section 45X tax credits provide critical support for domestic manufacturing margins
- Thin-film technology differentiation reduces reliance on volatile Chinese polysilicon supply chains
- Backlog of multi-year utility-scale module contracts ensures long-term revenue visibility
- U.S. trade policy and tariffs on imported silicon cells impact competitive pricing
- Rapid production capacity expansion in Alabama and Louisiana scales global market share
Piotroski VR‑10 (Strict)
7.5
| Net Income: 1.67b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 20.55 > 1.0 |
| NWC/Revenue: 63.43% < 20% (prev 51.74%; Δ 11.69% < -1%) |
| CFO/TA 0.18 > 3% & CFO 2.45b > Net Income 1.67b |
| Net Debt (-1.94b) to EBITDA (2.35b): -0.82 < 3 |
| Current Ratio: 2.56 > 1.5 & < 3 |
| Outstanding Shares: last quarter (107.6m) vs 12m ago 0.19% < -2% |
| Gross Margin: 41.73% > 18% (prev 0.44%; Δ 4.13k% > 0.5%) |
| Asset Turnover: 42.56% > 50% (prev 35.13%; Δ 7.42% > 0%) |
| Interest Coverage Ratio: 42.57 > 6 (EBITDA TTM 2.35b / Interest Expense TTM 42.2m) |
Altman Z''
6.49
| A: 0.26 (Total Current Assets 5.65b - Total Current Liabilities 2.21b) / Total Assets 13.35b |
| B: 0.53 (Retained Earnings 7.14b / Total Assets 13.35b) |
| C: 0.14 (EBIT TTM 1.80b / Avg Total Assets 12.73b) |
| D: 2.01 (Book Value of Equity 6.97b / Total Liabilities 3.47b) |
| Altman-Z'' Score: 6.49 = AAA |
Beneish M
-3.19
| DSRI: 0.55 (Receivables 1.37b/1.96b, Revenue 5.42b/4.26b) |
| GMI: 1.05 (GM 41.73% / 43.92%) |
| AQI: 1.05 (AQ_t 0.15 / AQ_t-1 0.15) |
| SGI: 1.27 (Revenue 5.42b / 4.26b) |
| TATA: -0.06 (NI 1.67b - CFO 2.45b) / TA 13.35b) |
| Beneish M-Score: -3.19 (Cap -4..+1) = AA |
What is the price of FSLR shares?
As of May 19, 2026, the stock is trading at USD 233.64 with a total of 1,938,153 shares traded.
Over the past week, the price has changed by +0.16%, over one month by +21.38%, over three months by -2.07% and over the past year by +41.67%.
Over the past week, the price has changed by +0.16%, over one month by +21.38%, over three months by -2.07% and over the past year by +41.67%.
Is FSLR a buy, sell or hold?
First Solar has received a consensus analysts rating of 4.27.
Therefore, it is recommended to buy FSLR.
- StrongBuy: 19
- Buy: 11
- Hold: 6
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the FSLR price?
| Analysts Target Price | 246.2 | 5.4% |
First Solar (FSLR) - Fundamental Data Overview
as of 18 May 2026
P/E Trailing = 15.0853 P/E Forward = 13.4771
P/S = 4.6275
P/B = 2.3925
P/EG = 0.5766
Revenue TTM = 5.42b USD
EBIT TTM = 1.80b USD
EBITDA TTM = 2.35b USD
Long Term Debt = 237.2m USD (from longTermDebt, last quarter)
Short Term Debt = 188.6m USD (from shortTermDebt, last quarter)
Debt = 425.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.94b USD (from netDebt column, last quarter)
Enterprise Value = 23.08b USD (25.08b + Debt 425.8m - CCE 2.43b)
Interest Coverage Ratio = 42.57 (Ebit TTM 1.80b / Interest Expense TTM 42.2m)
EV/FCF = 13.84x (Enterprise Value 23.08b / FCF TTM 1.67b)
FCF Yield = 7.23% (FCF TTM 1.67b / Enterprise Value 23.08b)
FCF Margin = 30.78% (FCF TTM 1.67b / Revenue TTM 5.42b)
Net Margin = 30.73% (Net Income TTM 1.67b / Revenue TTM 5.42b)
Gross Margin = 41.73% ((Revenue TTM 5.42b - Cost of Revenue TTM 3.16b) / Revenue TTM)
Gross Margin QoQ = 46.48% (prev 39.54%)
Tobins Q-Ratio = 1.73 (Enterprise Value 23.08b / Total Assets 13.35b)
Interest Expense / Debt = 1.79% (Interest Expense 7.62m / Debt 425.8m)
Taxrate = 2.18% (7.71m / 354.3m)
NOPAT = 1.76b (EBIT 1.80b * (1 - 2.18%))
Current Ratio = 2.56 (Total Current Assets 5.65b / Total Current Liabilities 2.21b)
Debt / Equity = 0.04 (Debt 425.8m / totalStockholderEquity, last quarter 9.88b)
Debt / EBITDA = -0.82 (Net Debt -1.94b / EBITDA 2.35b)
Debt / FCF = -1.16 (Net Debt -1.94b / FCF TTM 1.67b)
Total Stockholder Equity = 9.24b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.08% (Net Income 1.67b / Total Assets 13.35b)
RoE = 18.01% (Net Income TTM 1.67b / Total Stockholder Equity 9.24b)
RoCE = 18.96% (EBIT 1.80b / Capital Employed (Equity 9.24b + L.T.Debt 237.2m))
RoIC = 17.75% (NOPAT 1.76b / Invested Capital 9.91b)
WACC = 10.41% (E(25.08b)/V(25.50b) * Re(10.56%) + D(425.8m)/V(25.50b) * Rd(1.79%) * (1-Tc(0.02)))
Discount Rate = 10.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.78 | Cagr: 0.03%
[DCF] Terminal Value 69.55% ; FCFF base≈1.67b ; Y1≈1.62b ; Y5≈1.62b
[DCF] Fair Price = 201.7 (EV 19.73b - Net Debt -1.94b = Equity 21.67b / Shares 107.5m; r=10.41% [WACC]; 5y FCF grow -4.01% → 3.0% )
EPS Correlation: 84.38 | EPS CAGR: 93.79% | SUE: -2.29 | # QB: -1
Revenue Correlation: 73.90 | Revenue CAGR: 14.87% | SUE: -0.04 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.88 | Chg30d=-31.48% | Revisions=-71% | Analysts=20
EPS next Quarter (2026-09-30): EPS=5.15 | Chg30d=+3.99% | Revisions=+52% | Analysts=20
EPS current Year (2026-12-31): EPS=17.45 | Chg30d=-2.91% | Revisions=-20% | GrowthEPS=+22.8% | GrowthRev=-0.9%
EPS next Year (2027-12-31): EPS=23.42 | Chg30d=+0.55% | Revisions=+22% | GrowthEPS=+34.2% | GrowthRev=+16.5%
[Analyst] Revisions Ratio: -71%