FIRST SOLAR INC (FSLR) Stock Fundamental Analysis
NASDAQ:FSLR - Nasdaq - US3364331070 - Common Stock - Currency: USD
Overall FSLR gets a fundamental rating of 6 out of 10. We evaluated FSLR against 110 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR scores excellent on profitability, but there are some minor concerns on its financial health. An interesting combination arises when we look at growth and value: FSLR is growing strongly while it also seems undervalued.
1. Profitability
1.1 Basic Checks
FSLR had positive earnings in the past year.
FSLR had a positive operating cash flow in the past year.
Of the past 5 years FSLR 4 years were profitable.
Each year in the past 5 years FSLR had a positive operating cash flow.
1.2 Ratios
The Return On Assets of FSLR (10.44%) is better than 81.82% of its industry peers.
FSLR has a Return On Equity of 15.45%. This is in the better half of the industry: FSLR outperforms 78.18% of its industry peers.
FSLR has a better Return On Invested Capital (11.13%) than 81.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.44% | ||
| ROE | 15.45% | ||
| ROIC | 11.13% |
ROA(3y)6.05%
ROA(5y)6.01%
ROE(3y)9.29%
ROE(5y)8.59%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
FSLR has a Profit Margin of 29.72%. This is amongst the best in the industry. FSLR outperforms 90.91% of its industry peers.
FSLR's Profit Margin has improved in the last couple of years.
FSLR has a Operating Margin of 32.25%. This is amongst the best in the industry. FSLR outperforms 92.73% of its industry peers.
In the last couple of years the Operating Margin of FSLR has grown nicely.
FSLR has a Gross Margin (43.61%) which is in line with its industry peers.
In the last couple of years the Gross Margin of FSLR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.25% | ||
| PM (TTM) | 29.72% | ||
| GM | 43.61% |
OM growth 3Y30.14%
OM growth 5Y38.22%
PM growth 3Y24.2%
PM growth 5YN/A
GM growth 3Y20.94%
GM growth 5Y19.76%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FSLR is still creating some value.
FSLR has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, FSLR has more shares outstanding
The debt/assets ratio for FSLR has been reduced compared to a year ago.
2.2 Solvency
FSLR has an Altman-Z score of 4.07. This indicates that FSLR is financially healthy and has little risk of bankruptcy at the moment.
FSLR has a Altman-Z score (4.07) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.04 indicates that FSLR is not too dependend on debt financing.
The Debt to Equity ratio of FSLR (0.04) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 4.07 |
ROIC/WACC1.11
WACC10.04%
2.3 Liquidity
FSLR has a Current Ratio of 1.93. This is a normal value and indicates that FSLR is financially healthy and should not expect problems in meeting its short term obligations.
FSLR's Current ratio of 1.93 is on the low side compared to the rest of the industry. FSLR is outperformed by 78.18% of its industry peers.
A Quick Ratio of 1.39 indicates that FSLR should not have too much problems paying its short term obligations.
FSLR's Quick ratio of 1.39 is on the low side compared to the rest of the industry. FSLR is outperformed by 77.27% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.93 | ||
| Quick Ratio | 1.39 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 27.88% over the past year.
FSLR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 52.90% yearly.
The Revenue has grown by 19.42% in the past year. This is quite good.
The Revenue has been growing slightly by 6.55% on average over the past years.
EPS 1Y (TTM)27.88%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-11.36%
Revenue 1Y (TTM)19.42%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%6.35%
3.2 Future
FSLR is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.87% yearly.
Based on estimates for the next years, FSLR will show a quite strong growth in Revenue. The Revenue will grow by 11.30% on average per year.
EPS Next Y22.05%
EPS Next 2Y35.34%
EPS Next 3Y29.91%
EPS Next 5Y21.87%
Revenue Next Year20.48%
Revenue Next 2Y20.81%
Revenue Next 3Y17.83%
Revenue Next 5Y11.3%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
FSLR is valuated correctly with a Price/Earnings ratio of 13.54.
Based on the Price/Earnings ratio, FSLR is valued cheaply inside the industry as 92.73% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 26.98. FSLR is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 7.25, which indicates a rather cheap valuation of FSLR.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 100.00% of the companies listed in the same industry.
FSLR is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.49, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.54 | ||
| Fwd PE | 7.25 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FSLR is valued cheaper than 89.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 8.7 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of FSLR may justify a higher PE ratio.
FSLR's earnings are expected to grow with 29.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.61
PEG (5Y)0.26
EPS Next 2Y35.34%
EPS Next 3Y29.91%
5. Dividend
5.1 Amount
No dividends for FSLR!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
NASDAQ:FSLR (6/30/2025, 10:47:06 AM)
165.215
+13.08 (+8.59%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners97.29%
Inst Owner Change7.6%
Ins Owners5.37%
Ins Owner Change0.69%
Market Cap17.72B
Analysts80.87
Price Target204.1 (23.54%)
Short Float %10.58%
Short Ratio2.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-23.63%
Min EPS beat(2)-23.86%
Max EPS beat(2)-23.4%
EPS beat(4)2
Avg EPS beat(4)-6.01%
Min EPS beat(4)-23.86%
Max EPS beat(4)18.48%
EPS beat(8)6
Avg EPS beat(8)8.47%
EPS beat(12)7
Avg EPS beat(12)-30.04%
EPS beat(16)10
Avg EPS beat(16)-20.76%
Revenue beat(2)1
Avg Revenue beat(2)-0.07%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)1.21%
Revenue beat(4)2
Avg Revenue beat(4)-3.48%
Min Revenue beat(4)-19.01%
Max Revenue beat(4)5.22%
Revenue beat(8)4
Avg Revenue beat(8)-2.34%
Revenue beat(12)5
Avg Revenue beat(12)-5.12%
Revenue beat(16)5
Avg Revenue beat(16)-7.52%
PT rev (1m)4.38%
PT rev (3m)-19.76%
EPS NQ rev (1m)-2.93%
EPS NQ rev (3m)-35.88%
EPS NY rev (1m)-0.61%
EPS NY rev (3m)-28.64%
Revenue NQ rev (1m)-0.66%
Revenue NQ rev (3m)-18.17%
Revenue NY rev (1m)0.47%
Revenue NY rev (3m)-8.46%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.54 | ||
| Fwd PE | 7.25 | ||
| P/S | 4.16 | ||
| P/FCF | N/A | ||
| P/OCF | 51.76 | ||
| P/B | 2.16 | ||
| P/tB | 2.19 | ||
| EV/EBITDA | 8.7 |
EPS(TTM)12.2
EY7.38%
EPS(NY)22.8
Fwd EY13.8%
FCF(TTM)-9.1
FCFYN/A
OCF(TTM)3.19
OCFY1.93%
SpS39.69
BVpS76.35
TBVpS75.58
PEG (NY)0.61
PEG (5Y)0.26
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.44% | ||
| ROE | 15.45% | ||
| ROCE | 14.09% | ||
| ROIC | 11.13% | ||
| ROICexc | 12.25% | ||
| ROICexgc | 12.36% | ||
| OM | 32.25% | ||
| PM (TTM) | 29.72% | ||
| GM | 43.61% | ||
| FCFM | N/A |
ROA(3y)6.05%
ROA(5y)6.01%
ROE(3y)9.29%
ROE(5y)8.59%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y23.05%
ROICexcg growth 5Y27.37%
ROICexc growth 3Y23.15%
ROICexc growth 5Y27.62%
OM growth 3Y30.14%
OM growth 5Y38.22%
PM growth 3Y24.2%
PM growth 5YN/A
GM growth 3Y20.94%
GM growth 5Y19.76%
F-Score6
Asset Turnover0.35
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.2 | ||
| Cap/Depr | 287.4% | ||
| Cap/Sales | 30.98% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 18.69% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.93 | ||
| Quick Ratio | 1.39 | ||
| Altman-Z | 4.07 |
F-Score6
WACC10.04%
ROIC/WACC1.11
Cap/Depr(3y)381.88%
Cap/Depr(5y)306.48%
Cap/Sales(3y)37.52%
Cap/Sales(5y)29.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)27.88%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-11.36%
EPS Next Y22.05%
EPS Next 2Y35.34%
EPS Next 3Y29.91%
EPS Next 5Y21.87%
Revenue 1Y (TTM)19.42%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%6.35%
Revenue Next Year20.48%
Revenue Next 2Y20.81%
Revenue Next 3Y17.83%
Revenue Next 5Y11.3%
EBIT growth 1Y23.68%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year47.81%
EBIT Next 3Y36.37%
EBIT Next 5Y24.25%
FCF growth 1Y-586.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-64.99%
OCF growth 3Y72.43%
OCF growth 5Y47.54%