FSLR Stock Analysis: First Solar | NASDAQ
Solar | NASDAQ, USA | Market Cap: 26.873m USD | 12M Return: 31.4% | US3364331070 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 498M
EPS Trend: 86.9%
Qual. Beats: 1
Rev. Trend: 98.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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. (FSLR) is a U.S.-headquartered solar technology company that designs, manufactures, and sells photovoltaic (PV) solar energy solutions, with operations spanning the United States, France, India, Chile, and other international markets. Founded in 1999 and based in Phoenix, Arizona, the company differentiates itself through its use of cadmium telluride (CdTe) thin-film semiconductor technology rather than the conventional crystalline silicon approach used by most of the solar industry.
Its customer base includes system developers, independent power producers, utilities, commercial and industrial companies, large corporate energy buyers, and other system owners and operators, indicating a strong focus on utility-scale and commercial solar project development. While classified under the GICS Semiconductors sub-industry, First Solars business model is fundamentally that of a vertically integrated solar module manufacturer, and its CdTe technology is generally recognized for performing well in high-temperature and low-light conditions compared to crystalline silicon alternatives.
- IRA manufacturing tax credits expand U.S. solar production margins
- U.S. tariffs on Chinese silicon modules lift module pricing power
- Utility-scale project backlog drives sustained revenue growth
| Net Income: 1.75b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 18.54 > 1.0 |
| NWC/Revenue: 59.60% < 20% (prev 59.19%; Δ 0.41% < -1%) |
| CFO/TA 0.16 > 3% & CFO 2.16b > Net Income 1.75b |
| Net Debt (-1.24b) to EBITDA (2.44b): -0.51 < 3 |
| Current Ratio: 2.52 > 1.5 & < 3 |
| Outstanding Shares: last quarter (107.7m) vs 12m ago 0.20% < -2% |
| Gross Margin: 44.02% > 18% (prev 42.76%; Δ 1.26% > 0.5%) |
| Asset Turnover: 40.98% > 50% (prev 33.78%; Δ 7.20% > 0%) |
| Interest Coverage Ratio: 48.29 > 6 (EBIT TTM 1.86b / Interest Expense TTM 38.6m) |
| A: 0.24 (Total Current Assets 5.32b - Total Current Liabilities 2.11b) / Total Assets 13.4b |
| B: 0.56 (Retained Earnings 7.56b / Total Assets 13.4b) |
| C: 0.14 (EBIT TTM 1.86b / Avg Total Assets 13.1b) |
| D: 3.36 (Book Value of Equity 10.3b / Total Liabilities 3.07b) |
| Altman-Z'' = 7.90 = AAA |
| DSRI: 0.66 (Receivables 1.89b/2.33b, Revenue 5.38b/4.34b) |
| GMI: 0.97 (GM 42.76% / 44.02%) |
| AQI: 1.48 (AQ_t 0.18 / AQ_t-1 0.12) |
| SGI: 1.24 (Revenue 5.38b / 4.34b) |
| TATA: -0.03 (NI 1.75b - CFO 2.16b) / TA 13.4b) |
| Beneish M = -2.88 (Cap -4..+1) = A |
As of August 11, 2026, the stock is trading at USD 239.33 with a total of 2,904,007 shares traded. Over the past week, the price has changed by +2.84%, over one month by +5.05%, over three months by +2.60% and over the past year by +31.41%.
Current recommended Stop Loss: 206.80 (which is 13.6% or 2.3 ATR below the current price).
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
| Analysts Target Price | 256.1 | 7% |
P/E Trailing = 25.5153
P/E Forward = 15.8479
P/S = 4.9967
P/B = 2.6039
P/EG = 0.678
Revenue TTM = 5.38b USD
EBIT TTM = 1.86b USD
EBITDA TTM = 2.44b USD
Long Term Debt = 282.6m USD (from longTermDebt, last fiscal year)
Short Term Debt = 52.0m USD (from shortTermDebt, last quarter)
Debt = 491.0m USD (corrected: LT Debt 282.6m + ST Debt 52.0m) + Leases 156.4m
Net Debt = -1.24b USD (calculated: Debt 491.0m - CCE 1.73b)
Enterprise Value = 25.6b USD (26.9b + Debt 491.0m - CCE 1.73b)
Interest Coverage Ratio = 48.29 (Ebit TTM 1.86b / Interest Expense TTM 38.6m)
EV/FCF = 17.09x (Enterprise Value 25.6b / FCF TTM 1.50b)
FCF Yield = 5.85% (FCF TTM 1.50b / Enterprise Value 25.6b)
FCF Margin = 27.89% (FCF TTM 1.50b / Revenue TTM 5.38b)
Net Margin = 32.47% (Net Income TTM 1.75b / Revenue TTM 5.38b)
Gross Margin = 44.02% ((Revenue TTM 5.38b - Cost of Revenue TTM 3.01b) / Revenue TTM)
Gross Margin QoQ = 57.28% (prev 46.55%)
Tobins Q-Ratio = 1.91 (Enterprise Value 25.6b / Total Assets 13.4b)
Interest Expense / Debt = 7.86% (Interest Expense 38.6m / Debt 491.0m)
Taxrate = 4.35% (79.4m / 1.83b)
NOPAT = 1.78b (EBIT 1.86b * (1 - 4.35%))
Current Ratio = 2.52 (Total Current Assets 5.32b / Total Current Liabilities 2.11b)
Debt / Equity = 0.05 (Debt 491.0m / totalStockholderEquity, last quarter 10.3b)
Debt / EBITDA = -0.51 (Net Debt -1.24b / EBITDA 2.44b)
Debt / FCF = -0.82 (Net Debt -1.24b / FCF TTM 1.50b)
Total Stockholder Equity = 9.69b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.30% (Net Income 1.75b / Total Assets 13.4b)
RoE = 18.02% (Net Income TTM 1.75b / Total Stockholder Equity 9.69b)
RoCE = 18.69% (EBIT 1.86b / Capital Employed (Equity 9.69b + L.T.Debt 282.6m))
RoIC = 16.12% (NOPAT 1.78b / Invested Capital 11.1b)
WACC = 12.76% (E(26.9b)/V(27.4b) * Re(12.86%) + D(491.0m)/V(27.4b) * Rd(7.86%) * (1-Tc(0.04)))
Discount Rate = 12.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 72.89 | Cagr: 0.13%
[DCF] Terminal Value 61.62% ; FCFF base≈1.50b ; Y1≈1.51b ; Y5≈1.60b
[DCF] Fair Price = 143.5 (EV 14.2b - Net Debt -1.24b = Equity 15.4b / Shares 107.5m; r=12.76% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 86.85 | EPS CAGR: 37.56% | SUE: 2.16 | # QB: 1
Revenue Correlation: 98.79 | Revenue CAGR: 22.94% | SUE: -0.05 | # QB: 0
EPS current Quarter (2026-09-30): EPS=4.67 | Chg30d=-9.90% | Revisions=-12% | Analysts=21
EPS current Year (2026-12-31): EPS=17.44 | Chg30d=+0.10% | Revisions=-38% | GrowthEPS=+22.7% | GrowthRev=-3.3%
EPS next Year (2027-12-31): EPS=22.74 | Chg30d=-2.20% | Revisions=-12% | GrowthEPS=+30.4% | GrowthRev=+17.3%
[Analyst] Revisions Ratio: -28% (up=5, down=10)