FIRST SOLAR INC (FSLR) Stock Fundamental Analysis

NASDAQ:FSLR • US3364331070

199.86 USD
+2.66 (+1.35%)
At close: Mar 2, 2026
199.86 USD
0 (0%)
After Hours: 3/2/2026, 8:22:47 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to FSLR. FSLR was compared to 115 industry peers in the Semiconductors & Semiconductor Equipment industry. FSLR has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. FSLR is growing strongly while it also seems undervalued. This is an interesting combination These ratings could make FSLR a good candidate for value and growth and quality investing.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year FSLR was profitable.
  • FSLR had a positive operating cash flow in the past year.
  • FSLR had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years FSLR had a positive operating cash flow.
FSLR Yearly Net Income VS EBIT VS OCF VS FCFFSLR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B 2B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 11.47%, FSLR belongs to the top of the industry, outperforming 83.48% of the companies in the same industry.
  • FSLR has a Return On Equity of 16.02%. This is amongst the best in the industry. FSLR outperforms 80.87% of its industry peers.
  • FSLR has a better Return On Invested Capital (11.40%) than 85.22% of its industry peers.
  • FSLR had an Average Return On Invested Capital over the past 3 years of 10.03%. This is in line with the industry average of 10.52%.
  • The 3 year average ROIC (10.03%) for FSLR is below the current ROIC(11.40%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 11.47%
ROE 16.02%
ROIC 11.4%
ROA(3y)10.05%
ROA(5y)7.19%
ROE(3y)14.88%
ROE(5y)10.35%
ROIC(3y)10.03%
ROIC(5y)N/A
FSLR Yearly ROA, ROE, ROICFSLR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 15

1.3 Margins

  • FSLR has a Profit Margin of 29.28%. This is amongst the best in the industry. FSLR outperforms 87.83% of its industry peers.
  • FSLR's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 30.59%, FSLR belongs to the best of the industry, outperforming 90.43% 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 40.62%, FSLR perfoms like the industry average, outperforming 43.48% of the companies in the same industry.
  • In the last couple of years the Gross Margin of FSLR has grown nicely.
Industry RankSector Rank
OM 30.59%
PM (TTM) 29.28%
GM 40.62%
OM growth 3YN/A
OM growth 5Y20.72%
PM growth 3YN/A
PM growth 5Y14.79%
GM growth 3Y102.73%
GM growth 5Y10.1%
FSLR Yearly Profit, Operating, Gross MarginsFSLR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • FSLR has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • Compared to 1 year ago, FSLR has more shares outstanding
  • Compared to 5 years ago, FSLR has more shares outstanding
  • Compared to 1 year ago, FSLR has an improved debt to assets ratio.
FSLR Yearly Shares OutstandingFSLR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
FSLR Yearly Total Debt VS Total AssetsFSLR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • An Altman-Z score of 5.20 indicates that FSLR is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of FSLR (5.20) is comparable to the rest of the industry.
  • The Debt to FCF ratio of FSLR is 0.45, which is an excellent value as it means it would take FSLR, only 0.45 years of fcf income to pay off all of its debts.
  • FSLR has a Debt to FCF ratio of 0.45. This is in the better half of the industry: FSLR outperforms 78.26% of its industry peers.
  • FSLR has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.03, FSLR is in the better half of the industry, outperforming 63.48% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.45
Altman-Z 5.2
ROIC/WACC1.04
WACC10.96%
FSLR Yearly LT Debt VS Equity VS FCFFSLR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 2.67 indicates that FSLR has no problem at all paying its short term obligations.
  • The Current ratio of FSLR (2.67) is comparable to the rest of the industry.
  • A Quick Ratio of 2.35 indicates that FSLR has no problem at all paying its short term obligations.
  • Looking at the Quick ratio, with a value of 2.35, FSLR is in line with its industry, outperforming 55.65% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.67
Quick Ratio 2.35
FSLR Yearly Current Assets VS Current LiabilitesFSLR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 14.14% over the past year.
  • Measured over the past years, FSLR shows a very strong growth in Earnings Per Share. The EPS has been growing by 30.39% on average per year.
  • Looking at the last year, FSLR shows a very strong growth in Revenue. The Revenue has grown by 24.09%.
  • FSLR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.00% yearly.
EPS 1Y (TTM)14.14%
EPS 3YN/A
EPS 5Y30.39%
EPS Q2Q%32.6%
Revenue 1Y (TTM)24.09%
Revenue growth 3Y25.84%
Revenue growth 5Y14%
Sales Q2Q%11.15%

3.2 Future

  • The Earnings Per Share is expected to grow by 17.89% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 8.08% on average over the next years. This is quite good.
EPS Next Y61.21%
EPS Next 2Y42.29%
EPS Next 3Y32.03%
EPS Next 5Y17.89%
Revenue Next Year19.89%
Revenue Next 2Y17.31%
Revenue Next 3Y12.35%
Revenue Next 5Y8.08%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
FSLR Yearly Revenue VS EstimatesFSLR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B
FSLR Yearly EPS VS EstimatesFSLR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 10 20 30

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Find the best growth stocksShow best growing peers

9

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 14.06, FSLR is valued correctly.
  • Based on the Price/Earnings ratio, FSLR is valued cheaply inside the industry as 95.65% of the companies are valued more expensively.
  • FSLR's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.13.
  • With a Price/Forward Earnings ratio of 8.72, the valuation of FSLR can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, FSLR is valued cheaper than 99.13% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of FSLR to the average of the S&P500 Index (28.11), we can say FSLR is valued rather cheaply.
Industry RankSector Rank
PE 14.06
Fwd PE 8.72
FSLR Price Earnings VS Forward Price EarningsFSLR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FSLR indicates a rather cheap valuation: FSLR is cheaper than 95.65% of the companies listed in the same industry.
  • FSLR's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FSLR is cheaper than 93.04% of the companies in the same industry.
Industry RankSector Rank
P/FCF 18.06
EV/EBITDA 8.84
FSLR Per share dataFSLR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

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 excellent profitability rating of FSLR may justify a higher PE ratio.
  • A more expensive valuation may be justified as FSLR's earnings are expected to grow with 32.03% in the coming years.
PEG (NY)0.23
PEG (5Y)0.46
EPS Next 2Y42.29%
EPS Next 3Y32.03%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • No dividends for FSLR!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

FIRST SOLAR INC

NASDAQ:FSLR (3/2/2026, 8:22:47 PM)

After market: 199.86 0 (0%)

199.86

+2.66 (+1.35%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-24
Earnings (Next)04-27
Inst Owners104.86%
Inst Owner Change-4.78%
Ins Owners5.3%
Ins Owner Change-0.36%
Market Cap21.45B
Revenue(TTM)5.22B
Net Income(TTM)1.53B
Analysts74.29
Price Target281.48 (40.84%)
Short Float %7.48%
Short Ratio3.4
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)-5.1%
Min EPS beat(2)-7.93%
Max EPS beat(2)-2.26%
EPS beat(4)1
Avg EPS beat(4)-4.01%
Min EPS beat(4)-23.4%
Max EPS beat(4)17.54%
EPS beat(8)4
Avg EPS beat(8)-1.01%
EPS beat(12)7
Avg EPS beat(12)1.12%
EPS beat(16)9
Avg EPS beat(16)-21.81%
Revenue beat(2)2
Avg Revenue beat(2)2.87%
Min Revenue beat(2)0.18%
Max Revenue beat(2)5.57%
Revenue beat(4)3
Avg Revenue beat(4)2.2%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)5.57%
Revenue beat(8)6
Avg Revenue beat(8)0.89%
Revenue beat(12)7
Avg Revenue beat(12)-2.82%
Revenue beat(16)8
Avg Revenue beat(16)-5.66%
PT rev (1m)-1.07%
PT rev (3m)2.95%
EPS NQ rev (1m)-0.31%
EPS NQ rev (3m)-3.12%
EPS NY rev (1m)-0.06%
EPS NY rev (3m)-1.14%
Revenue NQ rev (1m)0.4%
Revenue NQ rev (3m)-1.72%
Revenue NY rev (1m)-0.51%
Revenue NY rev (3m)-0.72%
Valuation
Industry RankSector Rank
PE 14.06
Fwd PE 8.72
P/S 4.11
P/FCF 18.06
P/OCF 10.43
P/B 2.25
P/tB 2.27
EV/EBITDA 8.84
EPS(TTM)14.21
EY7.11%
EPS(NY)22.91
Fwd EY11.46%
FCF(TTM)11.06
FCFY5.54%
OCF(TTM)19.17
OCFY9.59%
SpS48.64
BVpS88.88
TBVpS88.12
PEG (NY)0.23
PEG (5Y)0.46
Graham Number168.58
Profitability
Industry RankSector Rank
ROA 11.47%
ROE 16.02%
ROCE 14.43%
ROIC 11.4%
ROICexc 15.36%
ROICexgc 15.52%
OM 30.59%
PM (TTM) 29.28%
GM 40.62%
FCFM 22.75%
ROA(3y)10.05%
ROA(5y)7.19%
ROE(3y)14.88%
ROE(5y)10.35%
ROIC(3y)10.03%
ROIC(5y)N/A
ROICexc(3y)12.92%
ROICexc(5y)N/A
ROICexgc(3y)13.06%
ROICexgc(5y)N/A
ROCE(3y)12.69%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y21.96%
ROICexc growth 3YN/A
ROICexc growth 5Y22.1%
OM growth 3YN/A
OM growth 5Y20.72%
PM growth 3YN/A
PM growth 5Y14.79%
GM growth 3Y102.73%
GM growth 5Y10.1%
F-Score7
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.45
Debt/EBITDA 0.15
Cap/Depr 164.37%
Cap/Sales 16.67%
Interest Coverage 250
Cash Conversion 96.76%
Profit Quality 77.69%
Current Ratio 2.67
Quick Ratio 2.35
Altman-Z 5.2
F-Score7
WACC10.96%
ROIC/WACC1.04
Cap/Depr(3y)324.99%
Cap/Depr(5y)303.58%
Cap/Sales(3y)31.58%
Cap/Sales(5y)29.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.14%
EPS 3YN/A
EPS 5Y30.39%
EPS Q2Q%32.6%
EPS Next Y61.21%
EPS Next 2Y42.29%
EPS Next 3Y32.03%
EPS Next 5Y17.89%
Revenue 1Y (TTM)24.09%
Revenue growth 3Y25.84%
Revenue growth 5Y14%
Sales Q2Q%11.15%
Revenue Next Year19.89%
Revenue Next 2Y17.31%
Revenue Next 3Y12.35%
Revenue Next 5Y8.08%
EBIT growth 1Y14.57%
EBIT growth 3YN/A
EBIT growth 5Y37.62%
EBIT Next Year93.38%
EBIT Next 3Y38.77%
EBIT Next 5Y19.12%
FCF growth 1Y485.37%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y68.89%
OCF growth 3Y33.05%
OCF growth 5Y123.24%

FIRST SOLAR INC / FSLR FAQ

Can you provide the ChartMill fundamental rating for FIRST SOLAR INC?

ChartMill assigns a fundamental rating of 7 / 10 to FSLR.


What is the valuation status for FSLR stock?

ChartMill assigns a valuation rating of 9 / 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 8 / 10.


What is the financial health of FIRST SOLAR INC (FSLR) stock?

The financial health rating of FIRST SOLAR INC (FSLR) is 7 / 10.


What is the expected EPS growth for FIRST SOLAR INC (FSLR) stock?

The Earnings per Share (EPS) of FIRST SOLAR INC (FSLR) is expected to grow by 61.21% in the next year.