FIRST SOLAR INC (FSLR) Stock Fundamental Analysis
USA - NASDAQ:FSLR - US3364331070 - Common Stock
239.55 USD
+10.55 (+4.61%)
We assign a fundamental rating of 5 out of 10 to FSLR. FSLR was compared to 112 industry peers in the Semiconductors & Semiconductor Equipment industry. While FSLR belongs to the best of the industry regarding profitability, there are concerns on its financial health. FSLR is growing strongly while it also seems undervalued. This is an interesting combination
1. Profitability
1.1 Basic Checks
In the past year FSLR was profitable.
In the past year FSLR had a positive cash flow from operations.
FSLR had positive earnings in 4 of the past 5 years.
FSLR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 9.78%, FSLR belongs to the top of the industry, outperforming 80.36% of the companies in the same industry.
FSLR's Return On Equity of 14.71% is fine compared to the rest of the industry. FSLR outperforms 79.46% of its industry peers.
With a decent Return On Invested Capital value of 10.34%, FSLR is doing good in the industry, outperforming 79.46% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.78% | ||
| ROE | 14.71% | ||
| ROIC | 10.34% |
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's Profit Margin of 28.95% is amongst the best of the industry. FSLR outperforms 88.39% of its industry peers.
In the last couple of years the Profit Margin of FSLR has grown nicely.
FSLR has a Operating Margin of 31.35%. This is amongst the best in the industry. FSLR outperforms 91.07% of its industry peers.
FSLR's Operating Margin has improved in the last couple of years.
FSLR has a Gross Margin of 42.76%. This is comparable to the rest of the industry: FSLR outperforms 46.43% of its industry peers.
In the last couple of years the Gross Margin of FSLR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.35% | ||
| PM (TTM) | 28.95% | ||
| GM | 42.76% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FSLR is destroying value.
The number of shares outstanding for FSLR remains at a similar level compared to 1 year ago.
FSLR has more shares outstanding than it did 5 years ago.
FSLR has a better debt/assets ratio than last year.
2.2 Solvency
FSLR has an Altman-Z score of 4.98. This indicates that FSLR is financially healthy and has little risk of bankruptcy at the moment.
FSLR has a Altman-Z score (4.98) which is in line with its industry peers.
FSLR has a Debt/Equity ratio of 0.09. This is a healthy value indicating a solid balance between debt and equity.
FSLR has a Debt to Equity ratio of 0.09. This is comparable to the rest of the industry: FSLR outperforms 56.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 4.98 |
ROIC/WACC0.9
WACC11.48%
2.3 Liquidity
FSLR has a Current Ratio of 1.90. This is a normal value and indicates that FSLR is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of FSLR (1.90) is worse than 72.32% of its industry peers.
FSLR has a Quick Ratio of 1.41. This is a normal value and indicates that FSLR is financially healthy and should not expect problems in meeting its short term obligations.
FSLR has a Quick ratio of 1.41. This is in the lower half of the industry: FSLR underperforms 75.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.9 | ||
| Quick Ratio | 1.41 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 8.30% 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 15.39% 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)8.3%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-2.15%
Revenue 1Y (TTM)15.39%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%8.58%
3.2 Future
The Earnings Per Share is expected to grow by 22.03% on average over the next years. This is a very strong growth
Based on estimates for the next years, FSLR will show a quite strong growth in Revenue. The Revenue will grow by 12.57% on average per year.
EPS Next Y25.57%
EPS Next 2Y37.91%
EPS Next 3Y32.31%
EPS Next 5Y22.03%
Revenue Next Year26.16%
Revenue Next 2Y22.27%
Revenue Next 3Y18.9%
Revenue Next 5Y12.57%
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 rather expensively with a Price/Earnings ratio of 19.75.
88.39% 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 (26.83), we can say FSLR is valued slightly cheaper.
The Price/Forward Earnings ratio is 10.12, which indicates a very decent valuation of FSLR.
FSLR's Price/Forward Earnings ratio is rather cheap when compared to the industry. FSLR is cheaper than 100.00% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.82. FSLR is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.75 | ||
| Fwd PE | 10.12 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FSLR is valued cheaply inside the industry as 86.61% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 12.98 |
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 32.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.77
PEG (5Y)0.37
EPS Next 2Y37.91%
EPS Next 3Y32.31%
5. Dividend
5.1 Amount
No dividends for FSLR!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
NASDAQ:FSLR (10/24/2025, 9:58:09 AM)
239.55
+10.55 (+4.61%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners106.4%
Inst Owner Change-0.07%
Ins Owners5.34%
Ins Owner Change-0.48%
Market Cap25.69B
Revenue(TTM)4.34B
Net Income(TTM)1.26B
Analysts82.17
Price Target223.84 (-6.56%)
Short Float %10.13%
Short Ratio3.74
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)1
Avg EPS beat(2)-2.93%
Min EPS beat(2)-23.4%
Max EPS beat(2)17.54%
EPS beat(4)2
Avg EPS beat(4)-6.25%
Min EPS beat(4)-23.86%
Max EPS beat(4)17.54%
EPS beat(8)6
Avg EPS beat(8)2.86%
EPS beat(12)8
Avg EPS beat(12)1.19%
EPS beat(16)10
Avg EPS beat(16)-22.2%
Revenue beat(2)1
Avg Revenue beat(2)1.53%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)4.39%
Revenue beat(4)2
Avg Revenue beat(4)-3.69%
Min Revenue beat(4)-19.01%
Max Revenue beat(4)4.39%
Revenue beat(8)4
Avg Revenue beat(8)-3.08%
Revenue beat(12)5
Avg Revenue beat(12)-4.82%
Revenue beat(16)6
Avg Revenue beat(16)-7.24%
PT rev (1m)0.61%
PT rev (3m)9.67%
EPS NQ rev (1m)-0.52%
EPS NQ rev (3m)-3.03%
EPS NY rev (1m)0%
EPS NY rev (3m)2.24%
Revenue NQ rev (1m)-0.5%
Revenue NQ rev (3m)11.21%
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)4.8%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.75 | ||
| Fwd PE | 10.12 | ||
| P/S | 5.92 | ||
| P/FCF | N/A | ||
| P/OCF | 85.97 | ||
| P/B | 3.01 | ||
| P/tB | 3.04 | ||
| EV/EBITDA | 12.98 |
EPS(TTM)12.13
EY5.06%
EPS(NY)23.68
Fwd EY9.88%
FCF(TTM)-8.79
FCFYN/A
OCF(TTM)2.79
OCFY1.16%
SpS40.5
BVpS79.68
TBVpS78.91
PEG (NY)0.77
PEG (5Y)0.37
Graham Number147.47
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.78% | ||
| ROE | 14.71% | ||
| ROCE | 13.61% | ||
| ROIC | 10.34% | ||
| ROICexc | 11.63% | ||
| ROICexgc | 11.74% | ||
| OM | 31.35% | ||
| PM (TTM) | 28.95% | ||
| GM | 42.76% | ||
| 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
ROICexgc growth 3Y23.05%
ROICexgc 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-Score3
Asset Turnover0.34
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.41 | ||
| Cap/Depr | 255.41% | ||
| Cap/Sales | 28.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 16.17% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.9 | ||
| Quick Ratio | 1.41 | ||
| Altman-Z | 4.98 |
F-Score3
WACC11.48%
ROIC/WACC0.9
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)8.3%
EPS 3Y56.95%
EPS 5Y52.9%
EPS Q2Q%-2.15%
EPS Next Y25.57%
EPS Next 2Y37.91%
EPS Next 3Y32.31%
EPS Next 5Y22.03%
Revenue 1Y (TTM)15.39%
Revenue growth 3Y12.89%
Revenue growth 5Y6.55%
Sales Q2Q%8.58%
Revenue Next Year26.16%
Revenue Next 2Y22.27%
Revenue Next 3Y18.9%
Revenue Next 5Y12.57%
EBIT growth 1Y6.46%
EBIT growth 3Y46.92%
EBIT growth 5Y47.27%
EBIT Next Year50.42%
EBIT Next 3Y37.57%
EBIT Next 5Y25.4%
FCF growth 1Y-87.04%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-62.64%
OCF growth 3Y72.43%
OCF growth 5Y47.54%
FIRST SOLAR INC / FSLR FAQ
What is the fundamental rating for FSLR stock?
ChartMill assigns a fundamental rating of 5 / 10 to FSLR.
What is the valuation status of FIRST SOLAR INC (FSLR) stock?
ChartMill assigns a valuation rating of 7 / 10 to FIRST SOLAR INC (FSLR). This can be considered as Undervalued.
Can you provide the profitability details for FIRST SOLAR INC?
FIRST SOLAR INC (FSLR) has a profitability rating of 7 / 10.
Can you provide the PE and PB ratios for FSLR stock?
The Price/Earnings (PE) ratio for FIRST SOLAR INC (FSLR) is 19.75 and the Price/Book (PB) ratio is 3.01.