FIRST SOLAR INC (FSLR)
US3364331070 - Common Stock
Overall FSLR gets a fundamental rating of 6 out of 10. We evaluated FSLR against 107 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR has an average financial health and profitability rating. FSLR is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings would make FSLR suitable for growth investing!
1. Profitability
1.1 Basic Checks
In the past year FSLR was profitable.
FSLR had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: FSLR reported negative net income in multiple years.
In the past 5 years FSLR always reported a positive cash flow from operatings.
1.2 Ratios
FSLR has a Return On Assets of 8.02%. This is in the better half of the industry: FSLR outperforms 70.75% of its industry peers.
FSLR has a better Return On Equity (12.42%) than 68.87% of its industry peers.
The Return On Invested Capital of FSLR (7.73%) is better than 68.87% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.02% | ||
| ROE | 12.42% | ||
| ROIC | 7.73% |
ROA(3y)4.6%
ROA(5y)3.58%
ROE(3y)6.51%
ROE(5y)4.9%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
The Profit Margin of FSLR (25.04%) is better than 84.91% of its industry peers.
In the last couple of years the Profit Margin of FSLR has grown nicely.
With an excellent Operating Margin value of 26.70%, FSLR belongs to the best of the industry, outperforming 83.96% of the companies in the same industry.
FSLR's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 39.19%, FSLR is not doing good in the industry: 63.21% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of FSLR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.7% | ||
| PM (TTM) | 25.04% | ||
| GM | 39.19% |
OM growth 3Y30.79%
OM growth 5Y71.74%
PM growth 3Y19.43%
PM growth 5Y31.24%
GM growth 3Y16.01%
GM growth 5Y17.53%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FSLR is destroying value.
FSLR has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, FSLR has more shares outstanding
The debt/assets ratio for FSLR is higher compared to a year ago.
2.2 Solvency
FSLR has an Altman-Z score of 4.58. This indicates that FSLR is financially healthy and has little risk of bankruptcy at the moment.
With a Altman-Z score value of 4.58, FSLR perfoms like the industry average, outperforming 56.60% of the companies in the same industry.
FSLR has a Debt/Equity ratio of 0.07. This is a healthy value indicating a solid balance between debt and equity.
FSLR's Debt to Equity ratio of 0.07 is fine compared to the rest of the industry. FSLR outperforms 61.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 4.58 |
ROIC/WACC0.67
WACC11.61%
2.3 Liquidity
A Current Ratio of 3.55 indicates that FSLR has no problem at all paying its short term obligations.
FSLR has a Current ratio of 3.55. This is comparable to the rest of the industry: FSLR outperforms 56.60% of its industry peers.
A Quick Ratio of 2.92 indicates that FSLR has no problem at all paying its short term obligations.
FSLR has a Quick ratio of 2.92. This is in the better half of the industry: FSLR outperforms 61.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.55 | ||
| Quick Ratio | 2.92 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 677.61% over the past year.
FSLR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 41.80% yearly.
Looking at the last year, FSLR shows a very strong growth in Revenue. The Revenue has grown by 26.70%.
FSLR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.14% yearly.
EPS 1Y (TTM)677.61%
EPS 3Y27.1%
EPS 5Y41.8%
EPS growth Q2Q4742.86%
Revenue 1Y (TTM)26.7%
Revenue growth 3Y6.97%
Revenue growth 5Y8.14%
Revenue growth Q2Q15.58%
3.2 Future
The Earnings Per Share is expected to grow by 38.26% on average over the next years. This is a very strong growth
FSLR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 16.62% yearly.
EPS Next Y78.72%
EPS Next 2Y67.77%
EPS Next 3Y58.03%
EPS Next 5Y38.26%
Revenue Next Year29.74%
Revenue Next 2Y27.08%
Revenue Next 3Y24.14%
Revenue Next 5Y16.62%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
FSLR is valuated rather expensively with a Price/Earnings ratio of 22.94.
69.81% of the companies in the same industry are more expensive than FSLR, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of FSLR to the average of the S&P500 Index (25.20), we can say FSLR is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 12.84, the valuation of FSLR can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 91.51% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of FSLR to the average of the S&P500 Index (21.63), we can say FSLR is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.94 | ||
| Fwd PE | 12.84 |
4.2 Price Multiples
81.13% of the companies in the same industry are more expensive than FSLR, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.27 |
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.
FSLR has a very decent profitability rating, which may justify a higher PE ratio.
FSLR's earnings are expected to grow with 58.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.29
PEG (5Y)0.55
EPS Next 2Y67.77%
EPS Next 3Y58.03%
5. Dividend
5.1 Amount
FSLR does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
FIRST SOLAR INC
NASDAQ:FSLR (4/26/2024, 8:38:09 AM)
177.58
+2.56 (+1.46%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
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Market Cap19.01B
Analysts
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Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.94 | ||
| Fwd PE | 12.84 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
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FCF(TTM)
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OCF(TTM)
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SpS
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PEG (NY)0.29
PEG (5Y)0.55
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.02% | ||
| ROE | 12.42% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 26.7% | ||
| PM (TTM) | 25.04% | ||
| GM | 39.19% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.32
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 3.55 | ||
| Quick Ratio | 2.92 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)677.61%
EPS 3Y27.1%
EPS 5Y
EPS growth Q2Q
EPS Next Y78.72%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)26.7%
Revenue growth 3Y6.97%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
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EBIT growth 3Y
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