FSLR Stock Analysis: First Solar | NASDAQ
Solar | NASDAQ, USA | Market Cap: 19.010m USD | 12M Return: -25.3% | US3364331070 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 344M
EPS Trend: 95.7%
Qual. Beats: 2
Rev. Trend: 95.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
First Solar, Inc. (NASDAQ: FSLR) is a U.S.-headquartered solar technology company founded in 1999 and based in Phoenix, Arizona. The company designs, manufactures, and sells photovoltaic (PV) solar energy solutions, with a focus on cadmium telluride (CdTe) thin-film solar modules that convert sunlight into electricity. First Solar operates in the United States, France, India, Chile, and other international markets.
Its modules are marketed as an alternative to conventional crystalline silicon PV solar modules. Customers include system developers, independent power producers, utilities, commercial and industrial companies, large corporate energy buyers, and other system owners and operators.
First Solar is classified under the GICS Information Technology sector, within the Semiconductors sub-industry, reflecting its position as a manufacturer of solar semiconductor devices rather than a traditional silicon-based chipmaker. The company is listed as a large-cap stock following its November 2006 IPO and was originally incorporated as First Solar Holdings, Inc. before adopting its current name that same year.
- IRA tax credits boost domestic solar module demand and margins
- Section 201 tariffs protect against Chinese crystalline silicon competition
- Utility-scale project backlog drives record segment revenue growth
| Net Income: 1.86b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -2.91 > 1.0 |
| NWC/Revenue: 64.68% < 20% (prev 55.67%; Δ 9.01% < -1%) |
| CFO/TA 0.06 > 3% & CFO 839.2m > Net Income 1.86b |
| Net Debt (-1.08b) to EBITDA (2.54b): -0.43 < 3 |
| Current Ratio: 2.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (107.7m) vs 12m ago 0.15% < -2% |
| Gross Margin: 49.25% > 18% (prev 40.05%; Δ 9.20% > 0.5%) |
| Asset Turnover: 36.49% > 50% (prev 37.53%; Δ -1.03% > 0%) |
| Interest Coverage Ratio: 72.87 > 6 (EBIT TTM 1.96b / Interest Expense TTM 26.9m) |
| A: 0.23 (Total Current Assets 5.31b - Total Current Liabilities 2.06b) / Total Assets 14.0b |
| B: 0.58 (Retained Earnings 8.13b / Total Assets 14.0b) |
| C: 0.14 (EBIT TTM 1.96b / Avg Total Assets 13.7b) |
| D: 3.47 (Book Value of Equity 10.9b / Total Liabilities 3.14b) |
| Altman-Z'' = 8.01 = AAA |
| DSRI: 0.84 (Receivables 1.88b/2.25b, Revenue 5.01b/5.05b) |
| GMI: 0.81 (GM 40.05% / 49.25%) |
| AQI: 1.51 (AQ_t 0.20 / AQ_t-1 0.13) |
| SGI: 0.99 (Revenue 5.01b / 5.05b) |
| TATA: 0.07 (NI 1.86b - CFO 839.2m) / TA 14.0b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of November 02, 2026, the stock is trading at USD 174.40 with a total of 3,476,931 shares traded. Over the past week, the price has changed by +1.40%, over one month by -1.43%, over three months by -15.34% and over the past year by -25.34%.
Current recommended Stop Loss: 165.70 (which is 5% or 1.2 ATR below the current price).
First Solar has received a consensus analysts rating of 4.19. Therefore, it is recommended to buy FSLR.
- StrongBuy: 17
- Buy: 10
- Hold: 8
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 274.2 | 57.2% |
P/E Trailing = 10.9057
P/E Forward = 7.6628
P/S = 3.5348
P/B = 1.8359
P/EG = 0.3105
Revenue TTM = 5.01b USD
EBIT TTM = 1.96b USD
EBITDA TTM = 2.54b USD
Long Term Debt = 282.6m USD (from longTermDebt, last fiscal year)
Short Term Debt = 125.2m USD (from shortTermDebt, last quarter)
Debt = 542.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 217.3m
Net Debt = -1.08b USD (calculated: Debt 542.3m - CCE 1.62b)
Enterprise Value = 17.9b USD (19.0b + Debt 542.3m - CCE 1.62b)
Interest Coverage Ratio = 72.87 (Ebit TTM 1.96b / Interest Expense TTM 26.9m)
EV/FCF = 77.02x (Enterprise Value 17.9b / FCF TTM 232.8m)
FCF Yield = 1.30% (FCF TTM 232.8m / Enterprise Value 17.9b)
FCF Margin = 4.64% (FCF TTM 232.8m / Revenue TTM 5.01b)
Net Margin = 37.12% (Net Income TTM 1.86b / Revenue TTM 5.01b)
Gross Margin = 49.25% ((Revenue TTM 5.01b - Cost of Revenue TTM 2.54b) / Revenue TTM)
Gross Margin QoQ = 57.93% (prev 57.28%)
Tobins Q-Ratio = 1.28 (Enterprise Value 17.9b / Total Assets 14.0b)
Interest Expense / Debt = 4.95% (Interest Expense 26.9m / Debt 542.3m)
Taxrate = 3.62% (69.9m / 1.93b)
NOPAT = 1.89b (EBIT 1.96b * (1 - 3.62%))
Current Ratio = 2.57 (Total Current Assets 5.31b / Total Current Liabilities 2.06b)
Debt / Equity = 0.05 (Debt 542.3m / totalStockholderEquity, last quarter 10.9b)
Debt / EBITDA = -0.43 (Net Debt -1.08b / EBITDA 2.54b)
Debt / FCF = -4.65 (Net Debt -1.08b / FCF TTM 232.8m)
Total Stockholder Equity = 10.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.55% (Net Income 1.86b / Total Assets 14.0b)
RoE = 18.33% (Net Income TTM 1.86b / Total Stockholder Equity 10.2b)
RoCE = 18.76% (EBIT 1.96b / Capital Employed (Equity 10.2b + L.T.Debt 282.6m))
RoIC = 15.95% (NOPAT 1.89b / Invested Capital 11.8b)
WACC = 12.31% (E(19.0b)/V(19.6b) * Re(12.53%) + D(542.3m)/V(19.6b) * Rd(4.95%) * (1-Tc(0.04)))
Discount Rate = 12.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 70.66 | Cagr: 0.07%
[DCF] Terminal Value 59.85% ; FCFF base≈385.5m ; Y1≈338.0m ; Y5≈273.1m
[DCF] Fair Price = 34.88 (EV 2.67b - Net Debt -1.08b = Equity 3.75b / Shares 107.5m; r=12.31% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 95.66 | EPS CAGR: 25.83% | SUE: 0.98 | # QB: 2
Revenue Correlation: 95.48 | Revenue CAGR: 19.74% | SUE: -0.69 | # QB: 0
EPS current Quarter (2027-03-31): EPS=5.02 | Chg30d=-0.76% | Revisions=-50% | Analysts=12
EPS current Year (2026-12-31): EPS=17.46 | Chg30d=-0.18% | Revisions=-50% | GrowthEPS=+22.9% | GrowthRev=-3.5%
EPS next Year (2027-12-31): EPS=23.43 | Chg30d=+1.04% | Revisions=-12% | GrowthEPS=+34.2% | GrowthRev=+18.1%
[Analyst] Revisions Ratio: -50% (up=2, down=9)