(FSLR) First Solar - Ratings and Ratios
Solar Modules, Thin Film, Cadmium Telluride, PV
FSLR EPS (Earnings per Share)
FSLR Revenue
Description: FSLR First Solar
First Solar, Inc. (NASDAQ:FSLR) is a U.S.-based solar-technology firm that designs, manufactures, and sells thin-film photovoltaic (PV) modules, primarily using cadmium telluride (CdTe) semiconductor material, and provides end-to-end solar-energy solutions across the United States, France, India, Chile, and other international markets.
The company’s CdTe thin-film modules offer a lower-carbon footprint and a cost-per-watt advantage over conventional crystalline-silicon panels, positioning First Solar as a differentiated supplier for utility-scale, commercial, and industrial solar projects.
Beyond module sales, First Solar operates a “residual business” that includes project development, operations & maintenance (O&M) services, and the sale of turnkey PV power systems to developers, independent power producers, utilities, and corporate off-takers.
Key recent metrics (FY 2023): revenue of approximately $3.2 billion, module shipments of ~15 GW, and a backlog of roughly $12 billion, reflecting strong demand for utility-scale solar in the wake of the U.S. Inflation Reduction Act and expanding renewable-energy mandates in Europe and Asia. A primary sector driver is the ongoing decline in CdTe module levelized cost of electricity (LCOE), now estimated to be 5-7 % lower than comparable silicon-based offerings, which underpins competitive bidding in large-scale procurements.
Given First Solar’s exposure to policy-driven growth and its expanding global footprint, a deeper dive into its capital-allocation strategy and O&M margin trends could be worthwhile; the ValueRay platform provides a structured framework for that analysis.
FSLR Stock Overview
| Market Cap in USD | 25,128m |
| Sub-Industry | Semiconductors |
| IPO / Inception | 2006-11-17 |
FSLR Stock Ratings
| Growth Rating | 50.7% |
| Fundamental | 58.5% |
| Dividend Rating | - |
| Return 12m vs S&P 500 | 4.20% |
| Analyst Rating | 4.27 of 5 |
FSLR Dividends
Currently no dividends paidFSLR Growth Ratios
| Growth Correlation 3m | 93.6% |
| Growth Correlation 12m | 10.5% |
| Growth Correlation 5y | 73.5% |
| CAGR 5y | 26.96% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.45 |
| CAGR/Mean DD 3y (Pain Ratio) | 1.01 |
| Sharpe Ratio 12m | -0.37 |
| Alpha | -5.14 |
| Beta | 1.379 |
| Volatility | 50.46% |
| Current Volume | 4611.5k |
| Average Volume 20d | 2191.5k |
| Stop Loss | 233.5 (-4.5%) |
| Signal | 1.79 |
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (1.26b TTM) > 0 and > 6% of Revenue (6% = 260.6m TTM) |
| FCFTA -0.07 (>2.0%) and ΔFCFTA -5.29pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 59.19% (prev 57.82%; Δ 1.38pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.02 (>3.0%) and CFO 298.9m <= Net Income 1.26b (YES >=105%, WARN >=100%) |
| Net Debt (-57.7m) to EBITDA (1.74b) ratio: -0.03 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.90 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (107.4m) change vs 12m ago -0.10% (target <= -2.0% for YES) |
| Gross Margin 42.76% (prev 45.65%; Δ -2.89pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 36.39% (prev 34.18%; Δ 2.21pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 35.79 (EBITDA TTM 1.74b / Interest Expense TTM 38.6m) >= 6 (WARN >= 3) |
Altman Z'' 4.94
| (A) 0.20 = (Total Current Assets 5.42b - Total Current Liabilities 2.85b) / Total Assets 12.86b |
| (B) 0.45 = Retained Earnings (Balance) 5.81b / Total Assets 12.86b |
| (C) 0.12 = EBIT TTM 1.38b / Avg Total Assets 11.94b |
| (D) 1.31 = Book Value of Equity 5.65b / Total Liabilities 4.31b |
| Total Rating: 4.94 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 58.47
| 1. Piotroski 5.0pt = 0.0 |
| 2. FCF Yield -3.76% = -1.88 |
| 3. FCF Margin -21.70% = -7.50 |
| 4. Debt/Equity 0.12 = 2.49 |
| 5. Debt/Ebitda -0.03 = 2.50 |
| 6. ROIC - WACC (= 4.65)% = 5.81 |
| 7. RoE 15.57% = 1.30 |
| 8. Rev. Trend 57.67% = 4.33 |
| 9. EPS Trend 28.53% = 1.43 |
What is the price of FSLR shares?
Over the past week, the price has changed by +5.63%, over one month by +18.07%, over three months by +42.15% and over the past year by +21.00%.
Is First Solar a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of FSLR is around 249.86 USD . This means that FSLR is currently overvalued and has a potential downside of 2.23%.
Is FSLR a buy, sell or hold?
- Strong Buy: 19
- Buy: 11
- Hold: 6
- Sell: 0
- Strong Sell: 1
What are the forecasts/targets for the FSLR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 227.5 | -6.9% |
| Analysts Target Price | 227.5 | -6.9% |
| ValueRay Target Price | 284 | 16.2% |
Last update: 2025-10-11 05:01
FSLR Fundamental Data Overview
P/E Trailing = 20.0428
P/E Forward = 10.1833
P/S = 5.7853
P/B = 2.9131
P/EG = 0.3685
Beta = 1.379
Revenue TTM = 4.34b USD
EBIT TTM = 1.38b USD
EBITDA TTM = 1.74b USD
Long Term Debt = 328.0m USD (from longTermDebt, last quarter)
Short Term Debt = 660.8m USD (from shortTermDebt, last quarter)
Debt = 1.07b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -57.7m USD (from netDebt column, last quarter)
Enterprise Value = 25.04b USD (25.13b + Debt 1.07b - CCE 1.15b)
Interest Coverage Ratio = 35.79 (Ebit TTM 1.38b / Interest Expense TTM 38.6m)
FCF Yield = -3.76% (FCF TTM -942.7m / Enterprise Value 25.04b)
FCF Margin = -21.70% (FCF TTM -942.7m / Revenue TTM 4.34b)
Net Margin = 28.95% (Net Income TTM 1.26b / Revenue TTM 4.34b)
Gross Margin = 42.76% ((Revenue TTM 4.34b - Cost of Revenue TTM 2.49b) / Revenue TTM)
Gross Margin QoQ = 45.56% (prev 40.78%)
Tobins Q-Ratio = 1.95 (Enterprise Value 25.04b / Total Assets 12.86b)
Interest Expense / Debt = 0.86% (Interest Expense 9.18m / Debt 1.07b)
Taxrate = 2.92% (10.3m / 352.2m)
NOPAT = 1.34b (EBIT 1.38b * (1 - 2.92%))
Current Ratio = 1.90 (Total Current Assets 5.42b / Total Current Liabilities 2.85b)
Debt / Equity = 0.12 (Debt 1.07b / totalStockholderEquity, last quarter 8.55b)
Debt / EBITDA = -0.03 (Net Debt -57.7m / EBITDA 1.74b)
Debt / FCF = 0.06 (negative FCF - burning cash) (Net Debt -57.7m / FCF TTM -942.7m)
Total Stockholder Equity = 8.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.78% (Net Income 1.26b / Total Assets 12.86b)
RoE = 15.57% (Net Income TTM 1.26b / Total Stockholder Equity 8.08b)
RoCE = 16.44% (EBIT 1.38b / Capital Employed (Equity 8.08b + L.T.Debt 328.0m))
RoIC = 15.33% (NOPAT 1.34b / Invested Capital 8.75b)
WACC = 10.68% (E(25.13b)/V(26.20b) * Re(11.10%) + D(1.07b)/V(26.20b) * Rd(0.86%) * (1-Tc(0.03)))
Discount Rate = 11.10% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.07%
Fair Price DCF = unknown (Cash Flow -942.7m)
EPS Correlation: 28.53 | EPS CAGR: 9.94% | SUE: -4.0 | # QB: 0
Revenue Correlation: 57.67 | Revenue CAGR: 22.43% | SUE: 0.56 | # QB: 0
Additional Sources for FSLR Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle