(FSLR) First Solar - Overview

Sector: Technology | Industry: Solar | Exchange: NASDAQ (USA) | Market Cap: 20.960m USD | Total Return: 50.4% in 12m

Solar Modules, Thin Film, PV
Total Rating 55
Safety 99
Buy Signal -0.67
Solar
Industry Rotation: +23.2
Market Cap: 21.0B
Avg Turnover: 309M USD
ATR: 4.51%
Peers RS (IBD): 20.8
Risk 5d forecast
Volatility60.1%
Rel. Tail Risk-14.9%
Reward TTM
Sharpe Ratio0.89
Alpha30.67
Character TTM
Beta1.299
Beta Downside0.586
Drawdowns 3y
Max DD59.97%
CAGR/Max DD-0.03
EPS (Earnings per Share) EPS (Earnings per Share) of FSLR over the last years for every Quarter: "2021-03": 0.8, "2021-06": 0.77, "2021-09": 0.42, "2021-12": 1.23, "2022-03": -0.41, "2022-06": -0.4, "2022-09": -0.46, "2022-12": -0.07, "2023-03": 0.4, "2023-06": 1.59, "2023-09": 2.5, "2023-12": 3.25, "2024-03": 2.2, "2024-06": 3.25, "2024-09": 2.91, "2024-12": 3.65, "2025-03": 1.95, "2025-06": 3.18, "2025-09": 4.24, "2025-12": 4.84, "2026-03": 0,
EPS CAGR: 25.67%
EPS Trend: 60.0%
Last SUE: -4.00
Qual. Beats: 0
Revenue Revenue of FSLR over the last years for every Quarter: 2021-03: 803.374, 2021-06: 629.18, 2021-09: 583.504, 2021-12: 907.319, 2022-03: 367.04, 2022-06: 620.955, 2022-09: 628.933, 2022-12: 1002.391, 2023-03: 548.286, 2023-06: 810.673, 2023-09: 801.09, 2023-12: 1158.553, 2024-03: 794.108, 2024-06: 1010.482, 2024-09: 887.668, 2024-12: 1514.031, 2025-03: 844.568, 2025-06: 1097.17, 2025-09: 1594.856, 2025-12: 1682.782, 2026-03: null,
Rev. CAGR: 50.09%
Rev. Trend: 81.7%
Last SUE: 0.95
Qual. Beats: 1

Warnings

Volatile

Tailwinds

No distinct edge detected

Description: FSLR First Solar

First Solar, Inc. (FSLR) is a solar technology company. It specializes in photovoltaic (PV) solar energy solutions, operating globally.

The company manufactures and sells PV solar modules using thin-film semiconductor technology. This technology offers a lower-carbon alternative compared to conventional crystalline silicon PV modules, a common type in the solar industry.

FSLR also produces cadmium telluride solar modules, which convert sunlight into electricity. This material is known for its efficiency in specific solar applications.

Beyond manufacturing, First Solar engages in project development, provides operations and maintenance services, and sells PV solar power systems. Its customer base includes utilities, independent power producers, and commercial entities.

For deeper insights into FSLRs financial health and market position, consider exploring its detailed financial reports on ValueRay.

Headlines to Watch Out For
  • Government solar incentives boost module demand
  • Cadmium telluride module efficiency impacts sales
  • Raw material costs influence production margins
  • Utility-scale project pipeline drives revenue
  • Global energy policy shifts affect market growth
Piotroski VR‑10 (Strict) 7.5
Net Income: 1.53b TTM > 0 and > 6% of Revenue
FCF/TA: 0.09 > 0.02 and ΔFCF/TA 11.45 > 1.0
NWC/Revenue: 72.32% < 20% (prev 71.60%; Δ 0.72% < -1%)
CFO/TA 0.15 > 3% & CFO 2.06b > Net Income 1.53b
Net Debt (-2.30b) to EBITDA (2.15b): -1.07 < 3
Current Ratio: 2.67 > 1.5 & < 3
Outstanding Shares: last quarter (107.7m) vs 12m ago 0.08% < -2%
Gross Margin: 40.62% > 18% (prev 0.44%; Δ 4.02k% > 0.5%)
Asset Turnover: 41.02% > 50% (prev 34.69%; Δ 6.33% > 0%)
Interest Coverage Ratio: 36.82 > 6 (EBITDA TTM 2.15b / Interest Expense TTM 44.1m)
Altman Z'' 6.22
A: 0.28 (Total Current Assets 6.03b - Total Current Liabilities 2.25b) / Total Assets 13.32b
B: 0.51 (Retained Earnings 6.79b / Total Assets 13.32b)
C: 0.13 (EBIT TTM 1.63b / Avg Total Assets 12.72b)
D: 1.75 (Book Value of Equity 6.64b / Total Liabilities 3.78b)
Altman-Z'' Score: 6.22 = AAA
Beneish M -3.17
DSRI: 0.58 (Receivables 1.29b/1.81b, Revenue 5.22b/4.21b)
GMI: 1.09 (GM 40.62% / 44.17%)
AQI: 1.00 (AQ_t 0.12 / AQ_t-1 0.12)
SGI: 1.24 (Revenue 5.22b / 4.21b)
TATA: -0.04 (NI 1.53b - CFO 2.06b) / TA 13.32b)
Beneish M-Score: -3.17 (Cap -4..+1) = AA
What is the price of FSLR shares? As of April 07, 2026, the stock is trading at USD 195.32 with a total of 1,527,300 shares traded.
Over the past week, the price has changed by +5.89%, over one month by +3.36%, over three months by -27.24% and over the past year by +50.38%.
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 250.6 28.3%
First Solar (FSLR) - Fundamental Data Overview as of 06 April 2026
P/E Trailing = 13.7356
P/E Forward = 11.655
P/S = 4.0158
P/B = 2.1975
P/EG = 0.4989
Revenue TTM = 5.22b USD
EBIT TTM = 1.63b USD
EBITDA TTM = 2.15b USD
Long Term Debt = 282.6m USD (from longTermDebt, last quarter)
Short Term Debt = 216.0m USD (from shortTermDebt, last quarter)
Debt = 498.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.30b USD (from netDebt column, last quarter)
Enterprise Value = 18.60b USD (20.96b + Debt 498.6m - CCE 2.86b)
Interest Coverage Ratio = 36.82 (Ebit TTM 1.63b / Interest Expense TTM 44.1m)
EV/FCF = 15.67x (Enterprise Value 18.60b / FCF TTM 1.19b)
FCF Yield = 6.38% (FCF TTM 1.19b / Enterprise Value 18.60b)
FCF Margin = 22.75% (FCF TTM 1.19b / Revenue TTM 5.22b)
Net Margin = 29.28% (Net Income TTM 1.53b / Revenue TTM 5.22b)
Gross Margin = 40.62% ((Revenue TTM 5.22b - Cost of Revenue TTM 3.10b) / Revenue TTM)
Gross Margin QoQ = 39.54% (prev 38.29%)
Tobins Q-Ratio = 1.40 (Enterprise Value 18.60b / Total Assets 13.32b)
Interest Expense / Debt = 2.27% (Interest Expense 11.3m / Debt 498.6m)
Taxrate = 5.52% (30.5m / 551.3m)
NOPAT = 1.54b (EBIT 1.63b * (1 - 5.52%))
Current Ratio = 2.67 (Total Current Assets 6.03b / Total Current Liabilities 2.25b)
Debt / Equity = 0.05 (Debt 498.6m / totalStockholderEquity, last quarter 9.54b)
Debt / EBITDA = -1.07 (Net Debt -2.30b / EBITDA 2.15b)
Debt / FCF = -1.94 (Net Debt -2.30b / FCF TTM 1.19b)
Total Stockholder Equity = 8.82b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.01% (Net Income 1.53b / Total Assets 13.32b)
RoE = 17.32% (Net Income TTM 1.53b / Total Stockholder Equity 8.82b)
RoCE = 17.85% (EBIT 1.63b / Capital Employed (Equity 8.82b + L.T.Debt 282.6m))
RoIC = 16.15% (NOPAT 1.54b / Invested Capital 9.51b)
WACC = 10.35% (E(20.96b)/V(21.46b) * Re(10.55%) + D(498.6m)/V(21.46b) * Rd(2.27%) * (1-Tc(0.06)))
Discount Rate = 10.55% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.06%
[DCF] Terminal Value 69.75% ; FCFF base≈1.19b ; Y1≈1.15b ; Y5≈1.15b
[DCF] Fair Price = 153.4 (EV 14.16b - Net Debt -2.30b = Equity 16.46b / Shares 107.3m; r=10.35% [WACC]; 5y FCF grow -4.01% → 3.0% )
EPS Correlation: 59.99 | EPS CAGR: 25.67% | SUE: -4.0 | # QB: 0
Revenue Correlation: 81.70 | Revenue CAGR: 50.09% | SUE: 0.95 | # QB: 1
EPS next Quarter (2026-06-30): EPS=4.15 | Chg7d=-0.058 | Chg30d=-0.977 | Revisions Net=-15 | Analysts=21
EPS current Year (2026-12-31): EPS=18.16 | Chg7d=-0.027 | Chg30d=-0.269 | Revisions Net=-2 | Growth EPS=+27.8% | Growth Revenue=-0.1%
EPS next Year (2027-12-31): EPS=23.68 | Chg7d=-0.484 | Chg30d=-0.690 | Revisions Net=-3 | Growth EPS=+30.4% | Growth Revenue=+16.9%
[Analyst] Revisions Ratio: -1.00 (0 Up / 15 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 3.3% (Discount Rate 10.6% - Earnings Yield 7.3%)
[Growth] Growth Spread = +5.9% (Analyst 9.2% - Implied 3.3%)
External Resources
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