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First Solar Inc.
FSLR
269.69 (-1.07%) 2.88
Information Technology
Semiconductors and Semiconductor Equipment
First Solar Inc. a solar technology company provides photovoltaic (PV) solar energy solutions in the United States France India Chile and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules. It also designs manufactures and sells cadmium telluride solar modules that converts sunlight into electricity. The company’s residual business operations include project development activities operations and maintenance services and the sale of PV solar power systems to third-party customers. It serves developers and operators of systems utilities independent power producers commercial and industrial companies and other system owners. The company was formerly known as First Solar Holdings Inc. and changed its name to First Solar Inc. in 2006. First Solar Inc. was founded in 1999 and is headquartered in Tempe Arizona.

Quality Checklist 7/8

ROIC > 10%
Debt/Equity < 1
Current Ratio > 1
Quick Ratio > 1
Net Margin > 10%
Past Net Income CAGR > 0%
Est. EPS Growth > 5%
5Y Shares Out Change < 0%
0.0%of Portfolio

My holdings

Day change:
Total change:
Shares:
Cost basis:
Market cap: $28.94(B)
EV: $27.79(B)
Total Equity: $9.02(B)
Earnings date: Feb-25-2026
P/E: 20.63
Forward P/E: 18.45
P/FCF: 47.07
P/S: 5.72
P/B: 3.21
EPS: $13.1
EPS (fwd): $14.6
FCF/share: $5.7
Revenue/share: $47.1
Book value/share: $84.0
ROIC: 15.4%
ROA: 11.3%
ROE: 16.9%
Debt/Equity: 0.10
Current Ratio: 1.90
Gross margin: 40.1%
Operating margin: 29.8%
Net margin: 27.7%
Dividend/share: $0.0
Div. yield: 0.00%
All Valuation Overview Growth Financials & KPIsCompetitors & Peer Comparison Ownership Tools

FSLR Valuation & Price Targets

Current Price
$270

Favorite Valuation Methods

PEvaluation
N/A
Analyst targets
N/A
DCF (2-stage)
N/A

More Valuation Methods

DCF (simple)
N/A
N/A
DCF (exit mult.)
N/A
N/A
DDM
N/A
N/A
EPS growth
N/A
N/A
Revenue growth
N/A
N/A
Peter Lynch FV
N/A
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Graham No.
N/A
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PEvaluation

31% undervalued
Low
$265
Mid
$353
High
$510
Current price
$270
Fair P/E
Margin of safety
EPS
Market Model
ROICRevenue growthFCF MarginShares outstan...Debt/EquityDebt/EBITDA
Economic moat: None/narrow

EPS Estimates

LowAvgHigh#
FY+114.214.615.323
FY+219.123.527.123
FY+322.729.735.519
FY+426.631.841.69
FY+531.537.554.16

Analyst Price Targets

5% undervalued
Low
$150
Mid
$283
High
$335
Current price
$270

Analyst Recommendations

Strong Buy9
Buy21
Hold5
Sell1
Strong Sell0

2-stage DCF

First Stage Duration: 5 Years
Starting Free Cash Flow
First Stage Growth Rate
LowMidHigh
Terminal Growth Rate
LowMidHigh
Discount Rate

Discounted Cash Flow

Forecast years: 5 Years
Terminal Growth Rate
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years: 5 Years
Exit FCF Multiple
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Dividend Discount Model

Annual Dividend
First Stage Length (Years): 0 Years
First Stage Growth Rate
Final Growth Rate
Discount Rate

EPS Growth

Forecast years: 5 Years
Starting EPS
EPS Growth Rate
LowMidHigh
Final P/E
LowMidHigh
Discount Rate

Revenue Growth Valuation

Forecast Years: 10 Years
Base Revenue
Revenue Growth Rate
LowMidHigh
Final Net Margin
LowMidHigh
Final P/E Ratio
LowMidHigh
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate

Graham Formula

Earnings Per Share
EPS Growth (7-10 years)
Government Bond Rate

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$5.05(B)
Gross profit$2.02(B)
EBITDA$2.02(B)
Net income$1.40(B)
Gross margin40.1%
Operating margin29.8%
Net margin27.7%
Shares outstanding107.31(M)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$13.46(B)
Current assets$5.90(B)
Total liabilities$4.44(B)
Current liabilities$3.09(B)
Cash & Short-term inv.$2.04(B)
Long-term debt$282.56(M)
Total intangibles$81.94(M)
PP&E$5.94(B)

Cash flow (TTM)

CFOCFICFF
FCF$614.52(M)
CapEx$-1.01(B)
Dividends paid$0
Stock issued$0
Stock repurchased$-15.51(M)
Stock-based comp.$22.83(M)
Debt issued$827.18(M)
Debt repaid$-655.92(M)

Per share data (TTM)

Price: $270
Revenue: $47.1 (5.7x | 17.5%) Gross profit: $18.8 (14.3x | 7.0%) Earnings: $13.1 (20.6x | 4.8%)
FCF: $5.73 (47.1x | 2.1%) Stock-based Comp.: $0.21 (1267.6x | 0.1%) CapEx.: $9.43 (28.6x | 3.5%) Dividend: $0.00 (N/A | 0.0%)
Total Assets: $125 (2.2x | 46.5%) Total Liabilities: $41.4 (6.5x | 15.4%) Book Value: $84.0 (3.2x | 31.2%) Cash & ST inv.: $19.0 (14.2x | 7.0%) Debt: $2.63 (102.4x | 1.0%)
Earnings FY+1: $14.6 (18.4x | 5.4%) Earnings FY+2: $23.5 (11.5x | 8.7%) Earnings FY+3: $29.7 (9.1x | 11.0%) Earnings FY+4: $31.8 (8.5x | 11.8%) Earnings FY+5: $37.5 (7.2x | 13.9%)
FCF FY+1: $3.35 (80.4x | 1.2%) FCF FY+2: $16.0 (16.9x | 5.9%) FCF FY+3: $28.6 (9.4x | 10.6%) FCF FY+4: $33.8 (8.0x | 12.5%) FCF FY+5: $35.3 (7.6x | 13.1%)

Summary

Growth Estimates

Revenue

CAGR: 11.2%
FY+1FY+2FY+3FY+4FY+5
FY+1$5.11(B)
FY+2(+20.5%)$6.16(B)
FY+3(+14.4%)$7.04(B)
FY+4(+2.7%)$7.24(B)
FY+5(+8.1%)$7.82(B)

Net Income

CAGR: 24.5%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.57(B)
FY+2(+60.7%)$2.53(B)
FY+3(+26.5%)$3.20(B)
FY+4(+10.0%)$3.52(B)
FY+5(+7.5%)$3.78(B)

EPS

CAGR: 26.5%
FY+1FY+2FY+3FY+4FY+5
FY+1$14.62
FY+2(+60.9%)$23.53
FY+3(+26.1%)$29.66
FY+4(+7.3%)$31.84
FY+5(+17.6%)$37.45

FCF per share

CAGR: 80.1%
FY+1FY+2FY+3FY+4FY+5
FY+1$3.35
FY+2(+376.9%)$16.00
FY+3(+78.5%)$28.55
FY+4(+18.2%)$33.75
FY+5(+4.6%)$35.29

Historical Financials

Showing limited histrical data.
TTM (Y)TTM (Q)FYFQ
Income(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.01.0(B)2.0(B)3.0(B)4.0(B)5.0(B)
Revenue Operating Income Net IncomeCOGSGross ProfitTotal OpEx.R&DSG&AInterest ExpenseInterest IncomeOther Non-operating IncomePre-tax incomeIncome tax
Cash flow(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)-600.0(M)-400.0(M)-200.0(M)0.0200.0(M)400.0(M)600.0(M)
Stock-based Comp. FCFCFONet IncomeD&AChange in Working CapitalCFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.02.0(B)4.0(B)6.0(B)8.0(B)10.0(B)12.0(B)
Total Assets Total LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesShort-Term DebtAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)-5.00.05.010.0
EPS (Basic) FCF/Share Dividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.020.040.060.080.0
P/E P/S EV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%10%20%30%40%
Net Income Margin Operating Margin Gross MarginEBITDA MarginFCF Margin
Returns(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%2%4%6%8%10%12%14%
ROIC ROAROCEROE
Shares outstanding(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.020.0(M)40.0(M)60.0(M)80.0(M)100.0(M)
Shares (Basic)Shares (Diluted)
Market Cap.(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.05.0(B)10.0(B)15.0(B)20.0(B)25.0(B)
Market Cap.

FSLR vs Peers

Similar Companies

Ownership

Major holders

*Excludes indirect insider ownership

Insiders: 5.49%
Institutions: 104.76%

Institutional ownership

12.79% Vanguard Group Inc11.91% Blackrock Inc.4.91% State Street Corporati...4.13% FMR, LLC2.70% Geode Capital Manageme...2.40% Morgan Stanley2.33% Wellington Management ...1.99% Samlyn Capital, LLC1.95% Hill City Capital, Lp1.90% BNP Paribas Asset Mana...57.75% Others

Trading Summary

In the past year, insiders have bought $0.00 worth of the company's stock, and sold $28.20(M).

Congress members have bought between $3003 - $45000 worth of the company's stock, and sold between $2002 - $30000.

Insider transactions

$0.002026-01$0.00
$0.002025-12$0.00
$12.97(M)2025-11$0.00
$0.002025-10$0.00
$263862025-09$0.00
$6.13(M)2025-08$0.00
$2880002025-07$0.00
$7453592025-06$0.00
$2.80(M)2025-05$0.00
$0.002025-04$0.00
$1.18(M)2025-03$0.00
$4.06(M)2025-02$0.00
$0.002025-01$0.00
DateSharesTotal ($)Price ($)NameTitle
Sell2025-11-077,0001,836,804262.4STEBBINS PAUL HDirector
Sell2025-11-064,5001,219,995271.1SWEENEY MICHAEL TDirector
Sell2025-11-0437,4129,914,635265.0ANTOUN GEORGES JOfficer
Grant2025-09-3029000.0AHEARN MICHAEL JDirector
Grant2025-09-3020500.0RENDUCHINTALA VENKATA S MDirector
Grant2025-09-3020500.0KRO LISA ADirector
Grant2025-09-3020500.0STEBBINS PAUL HDirector
Grant2025-09-3020500.0SWEENEY MICHAEL TDirector
Grant2025-09-3020500.0POST WILLIAM J.Director
Grant2025-09-3020500.0GEORGE ANITA MDirector
Grant2025-09-3020500.0WRIGHT NORMAN LDirector
Sell2025-09-0214026,386188.5SLOAN SAMANTHA L.Officer
Sell2025-08-191,824392,762215.3DYMBORT JASON EGeneral Counsel
Sell2025-08-152,321462,889199.4WIDMAR MARK RChief Executive Officer
Sell2025-08-14686124,873182.0THEURER NATHAN BGeneral Counsel
Sell2025-08-1327,7085,145,654185.7WIDMAR MARK RChief Executive Officer
Sell2025-07-031,600288,000180.0BUEHLER PATRICK JAMESOfficer
Grant2025-06-3038600.0AHEARN MICHAEL JDirector
Grant2025-06-3027200.0RENDUCHINTALA VENKATA S MDirector
Grant2025-06-3027200.0JOSEPH MOLLY E.Director
Grant2025-06-3027200.0KRO LISA ADirector
Grant2025-06-3027200.0STEBBINS PAUL HDirector
Grant2025-06-3027200.0SWEENEY MICHAEL TDirector
Grant2025-06-3027200.0POST WILLIAM J.Director
Grant2025-06-3027200.0GEORGE ANITA MDirector
Grant2025-06-3027200.0WRIGHT NORMAN LDirector
Sell2025-06-031,868278,481149.1BUEHLER PATRICK JAMESOfficer
Sell2025-06-022,951466,878158.2KORALEWSKI MICHAELOfficer
Sell2025-05-289,5571,481,813155.1GLOECKLER MARKUSChief Technology Officer
Sell2025-05-128,7941,319,120150.0BRADLEY ALEXANDER R.Chief Financial Officer
Grant2025-03-3150500.0AHEARN MICHAEL JDirector
Grant2025-03-3135600.0RENDUCHINTALA VENKATA S MDirector
Grant2025-03-3135600.0JOSEPH MOLLY E.Director
Grant2025-03-3135600.0KRO LISA ADirector
Grant2025-03-3135600.0STEBBINS PAUL HDirector
Grant2025-03-3135600.0POST WILLIAM J.Director
Grant2025-03-3135600.0SWEENEY MICHAEL TDirector
Grant2025-03-3135600.0GEORGE ANITA MDirector
Grant2025-03-3135600.0WRIGHT NORMAN LDirector
Sell2025-03-1850364,301127.8VERMA KUNTAL KUMAROfficer
Sell2025-03-1734145,609133.8STOCKDALE CAROLINEOfficer
Sell2025-03-1722930,629133.8ANTOUN GEORGES JOfficer
Sell2025-03-171,966262,952133.7WIDMAR MARK RChief Executive Officer
Sell2025-03-1736348,551133.7DYMBORT JASON EGeneral Counsel
Sell2025-03-1738050,825133.8GLOECKLER MARKUSChief Technology Officer
Sell2025-03-1718624,878133.8BUEHLER PATRICK JAMESOfficer
Sell2025-03-1727336,514133.8KORALEWSKI MICHAELOfficer
Sell2025-03-1740454,035133.8VERMA KUNTAL KUMAROfficer
Sell2025-03-17354,681133.7THEURER NATHAN BOfficer
Sell2025-03-1759980,116133.7BRADLEY ALEXANDER R.Chief Financial Officer
Sell2025-03-0722730,182133.0STOCKDALE CAROLINEOfficer
Sell2025-03-0714719,545133.0ANTOUN GEORGES JOfficer
Sell2025-03-071,272169,125133.0WIDMAR MARK RChief Executive Officer
Sell2025-03-0732042,547133.0DYMBORT JASON EGeneral Counsel
Sell2025-03-0737850,259133.0GLOECKLER MARKUSChief Technology Officer
Sell2025-03-0719225,528133.0BUEHLER PATRICK JAMESOfficer
Sell2025-03-0718824,996133.0KORALEWSKI MICHAELOfficer
Sell2025-03-0741955,710133.0VERMA KUNTAL KUMAROfficer
Sell2025-03-07314,122133.0THEURER NATHAN BOfficer
Sell2025-03-0739151,987133.0BRADLEY ALEXANDER R.Chief Financial Officer
Sell2025-02-2821,5423,039,361141.1WIDMAR MARK RChief Executive Officer
Sell2025-02-287,4751,021,086136.6VERMA KUNTAL KUMAROfficer
Grant2025-02-2756000.0THEURER NATHAN BGeneral Counsel
Grant2025-02-2612,80600.0DYMBORT JASON EGeneral Counsel
Grant2025-02-2621,61000.0BRADLEY ALEXANDER R.Chief Financial Officer
Grant2025-02-2612,80600.0GLOECKLER MARKUSChief Technology Officer
Grant2025-02-266,40200.0BUEHLER PATRICK JAMESOfficer
Grant2025-02-269,60400.0KORALEWSKI MICHAELOfficer
Grant2025-02-2613,60600.0VERMA KUNTAL KUMAROfficer
Grant2025-02-2612,00600.0STOCKDALE CAROLINEOfficer
Grant2025-02-2672,83800.0WIDMAR MARK RChief Executive Officer
Grant2025-02-2623,47800.0ANTOUN GEORGES JOfficer
Grant2024-12-3136200.0AHEARN MICHAEL JDirector
Grant2024-12-3125600.0RENDUCHINTALA VENKATA S MDirector
Grant2024-12-3125600.0JOSEPH MOLLY E.Director
Grant2024-12-3125600.0KRO LISA ADirector
Grant2024-12-3125600.0STEBBINS PAUL HDirector
Grant2024-12-3125600.0SWEENEY MICHAEL TDirector
Grant2024-12-3125600.0POST WILLIAM J.Director
Grant2024-12-3125600.0GEORGE ANITA MDirector
Grant2024-12-3125600.0WRIGHT NORMAN LDirector

Congressional trading

$0.002026-01$0.00
$0.002025-12$0.00
$0.002025-11$0.00
$0.002025-10$0.00
$0.002025-09$0.00
$0.002025-08$0.00
$0.002025-07$0.00
$0.002025-06$0.00
$0.002025-05$0.00
$0.002025-04$8001
$80012025-03$16001
$80012025-02$0.00
$0.002025-01$0.00
DatePoliticianPartyChamberAmount ($)
Buy2025-04-23Ro KhannaDHouse$1,001 - $15,000
Sell2025-03-19Dave MinDHouse$1,001 - $15,000
Buy2025-03-12Ro KhannaDHouse$1,001 - $15,000
Buy2025-03-12Ro KhannaDHouse$1,001 - $15,000
Sell2025-02-25Rob BresnahanRHouse$1,001 - $15,000

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