FSLR Stock Analysis: First Solar | NASDAQ
Solar | NASDAQ, USA | Market Cap: 25.689m USD | 12M Return: 42.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 585M
EPS Trend: 79.3%
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 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: 1.67b 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 (-1.84b) to EBITDA (2.31b): -0.80 < 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 43.92%; Δ -2.19% > 0.5%) |
| Asset Turnover: 42.56% > 50% (prev 35.13%; Δ 7.42% > 0%) |
| Interest Coverage Ratio: 41.70 > 6 (EBIT TTM 1.76b / Interest Expense TTM 42.2m) |
| A: 0.26 (Total Current Assets 5.65b - Total Current Liabilities 2.21b) / Total Assets 13.4b |
| B: 0.53 (Retained Earnings 7.14b / Total Assets 13.4b) |
| C: 0.14 (EBIT TTM 1.76b / Avg Total Assets 12.7b) |
| D: 2.84 (Book Value of Equity 9.88b / Total Liabilities 3.47b) |
| Altman-Z'' = 7.35 = AAA |
| DSRI: 0.73 (Receivables 1.82b/1.96b, Revenue 5.42b/4.26b) |
| GMI: 1.05 (GM 43.92% / 41.73%) |
| 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 13.4b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of July 02, 2026, the stock is trading at USD 232.08 with a total of 1,414,377 shares traded. Over the past week, the price has changed by -6.55%, over one month by -23.41%, over three months by +16.38% and over the past year by +42.42%.
Current recommended Stop Loss: 203.80 (which is 12.2% or 1.9 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 | 247.3 | 6.6% |
P/E Trailing = 15.4338
P/E Forward = 14.6413
P/S = 4.7405
P/B = 2.6005
P/EG = 0.6267
Revenue TTM = 5.42b USD
EBIT TTM = 1.76b USD
EBITDA TTM = 2.31b USD
Long Term Debt = 237.2m USD (from longTermDebt, last quarter)
Short Term Debt = 188.6m USD (from shortTermDebt, last quarter)
Debt = 587.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 161.3m
Net Debt = -1.84b USD (calculated: Debt 587.1m - CCE 2.43b)
Enterprise Value = 23.8b USD (25.7b + Debt 587.1m - CCE 2.43b)
Interest Coverage Ratio = 41.70 (Ebit TTM 1.76b / Interest Expense TTM 42.2m)
EV/FCF = 14.30x (Enterprise Value 23.8b / FCF TTM 1.67b)
FCF Yield = 6.99% (FCF TTM 1.67b / Enterprise Value 23.8b)
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 = 1.79 (Enterprise Value 23.8b / Total Assets 13.4b)
Interest Expense / Debt = 7.19% (Interest Expense 42.2m / Debt 587.1m)
Taxrate = 3.08% (52.9m / 1.72b)
NOPAT = 1.71b (EBIT 1.76b * (1 - 3.08%))
Current Ratio = 2.56 (Total Current Assets 5.65b / Total Current Liabilities 2.21b)
Debt / Equity = 0.06 (Debt 587.1m / totalStockholderEquity, last quarter 9.88b)
Debt / EBITDA = -0.80 (Net Debt -1.84b / EBITDA 2.31b)
Debt / FCF = -1.10 (Net Debt -1.84b / FCF TTM 1.67b)
Total Stockholder Equity = 9.24b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.08% (Net Income 1.67b / Total Assets 13.4b)
RoE = 18.01% (Net Income TTM 1.67b / Total Stockholder Equity 9.24b)
RoCE = 18.57% (EBIT 1.76b / Capital Employed (Equity 9.24b + L.T.Debt 237.2m))
RoIC = 15.43% (NOPAT 1.71b / Invested Capital 11.1b)
WACC = 11.38% (E(25.7b)/V(26.3b) * Re(11.48%) + D(587.1m)/V(26.3b) * Rd(7.19%) * (1-Tc(0.03)))
Discount Rate = 11.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.78 | Cagr: 0.03%
[DCF] Terminal Value 65.60% ; FCFF base≈1.67b ; Y1≈1.67b ; Y5≈1.77b
[DCF] Fair Price = 186.6 (EV 18.2b - Net Debt -1.84b = Equity 20.1b / Shares 107.5m; r=11.38% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 79.33 | EPS CAGR: 70.74% | SUE: 0.46 | # QB: 0
Revenue Correlation: 99.19 | Revenue CAGR: 24.09% | SUE: -0.04 | # QB: 0
EPS current Quarter (2026-09-30): EPS=5.16 | Chg30d=+0.32% | Revisions=+58% | Analysts=20
EPS current Year (2026-12-31): EPS=17.39 | Chg30d=-0.06% | Revisions=-3% | GrowthEPS=+22.4% | GrowthRev=-2.5%
EPS next Year (2027-12-31): EPS=23.23 | Chg30d=+0.32% | Revisions=+15% | GrowthEPS=+33.6% | GrowthRev=+16.3%
[Analyst] Revisions Ratio: +58%