FSLR Stock Analysis: First Solar | NASDAQ
Solar | NASDAQ, USA | Market Cap: 19.221m USD | 12M Return: -24.1% | US3364331070 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 415M
EPS Trend: 86.9%
Qual. Beats: 1
Rev. Trend: 98.8%
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: 1.75b 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 October 11, 2026, the stock is trading at USD 177.82 with a total of 1,283,525 shares traded. Over the past week, the price has changed by +1.84%, over one month by -12.45%, over three months by -22.18% and over the past year by -24.11%.
Current recommended Stop Loss: 168.10 (which is 5.5% or 1.2 ATR below the current price).
First Solar has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy FSLR.
- StrongBuy: 16
- Buy: 10
- Hold: 9
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 274.5 | 54.4% |
P/E Trailing = 11.0265
P/E Forward = 8.3472
P/S = 3.574
P/B = 1.9991
P/EG = 0.3571
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 = 18.0b USD (19.2b + Debt 491.0m - CCE 1.73b)
Interest Coverage Ratio = 48.29 (Ebit TTM 1.86b / Interest Expense TTM 38.6m)
EV/FCF = 11.99x (Enterprise Value 18.0b / FCF TTM 1.50b)
FCF Yield = 8.34% (FCF TTM 1.50b / Enterprise Value 18.0b)
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 = 1.34 (Enterprise Value 18.0b / 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 = 13.17% (E(19.2b)/V(19.7b) * Re(13.31%) + D(491.0m)/V(19.7b) * Rd(7.86%) * (1-Tc(0.04)))
Discount Rate = 13.31% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 72.89 | Cagr: 0.13%
[DCF] Terminal Value 60.52% ; FCFF base≈1.50b ; Y1≈1.51b ; Y5≈1.60b
[DCF] Fair Price = 138.5 (EV 13.7b - Net Debt -1.24b = Equity 14.9b / Shares 107.5m; r=13.17% [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=4.63 | Chg30d=+0.11% | Revisions=-57% | Analysts=22
EPS current Year (2026-12-31): EPS=17.47 | Chg30d=-0.06% | Revisions=+37% | GrowthEPS=+22.9% | GrowthRev=-3.4%
EPS next Year (2027-12-31): EPS=23.16 | Chg30d=+0.38% | Revisions=+57% | GrowthEPS=+32.6% | GrowthRev=+17.2%
[Analyst] Revisions Ratio: +4% (up=24, down=22)