First Solar Inc.

FSLR

178.46 (-4.93%) 8.79

19.14(B)

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.

My Holdings:

(?% ownership)

Cost basis:

Market cap:$19.14(B)

EV:$18.88(B)

Total Equity:$8.19(B)

Div. yield:0.00%

P/S:4.49

P/E:15.11

P/FCF:N/A

P/B:2.34

EPS:$11.8

FCF/share:$-9.1

Dividend/share:$0.0

Book value/share:$76.3

ROIC:15.4%

ROA:11.1%

ROE:16.8%

Jump to:Valuation TTM Financials Growth Estimates Historical Data Similar Companies Ownership Tools

FSLR Valuation

Current Price

178.46

PE Valuation

N/A

Analyst targets

N/A

DCF

N/A

DCF (exit mult.)

N/A

Future P/E

N/A

Peter Lynch FV

N/A

Graham No.

N/A

DDM

N/A

Using the PEvaluation method, the intrinsic value estimate of FSLR is $290.8.
At the current price of 178.5, FSLR is 63% undervalued.

Based on 0 valuation methods, the average fair value estimate for FSLR is $N/A (NaN% overvalued).

Valuations range from $1.7976931348623157e+308 (N/A) to $0.0 (N/A).

PEvaluation

63% undervalued

Low

$218

Mid

$291

High

$363

Current price

$178

Fair P/E

Margin of safety

Economic moat: None/narrow

Analyst Price Targets

12% undervalued

Low

$100

Mid

$200

High

$304

Current price

$178

Strong Buy12

Buy20

Hold6

Sell1

Strong Sell0

Estimated EPS

	Low	Avg	High	#
FY+1	12.9	15.4	18.2	19
FY+2	20.8	24.0	28.3	20
FY+3	24.6	28.5	34.4	13
FY+4	25.6	30.9	36.9	3
FY+5	27.4	29.6	31.8	2

Discounted Cash Flow

Forecast years
Terminal Growth Rate
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
Exit FCF Multiple
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%

Future P/E Valuation

Projection Years
Base Revenue
Revenue Growth Rate
Final Net Margin
Final P/E Ratio
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate (*)

(*) Growth rate is capped between 5 and 25

Graham Formula

Earnings Per Share
Expected Growth Rate
Government Bond Rate

Dividend Discount Model

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

(*) First stage rowth rate is capped to 20%

TTM Financials

Income (TTM)

Revenue$4.26(B)

Gross profit$1.86(B)

EBITDA$1.83(B)

Net income$1.26(B)

Gross margin43.6%

Operating margin32.3%

Net margin29.7%

Shares outstanding:107.24(M)

Balance sheet

Total assets$12.12(B)

Current assets$4.57(B)

Total liabilities$3.93(B)

Current liabilities$2.37(B)

Cash & Short-term inv.$890.76(M)

Long-term debt$327.94(M)

Total intangibles$82.34(M)

PP&E$5.78(B)

Cash flow (TTM)

FCF$-976.29(M)

CapEx$-1.32(B)

Dividends paid$0

Stock issued$0

Stock repurchased$-16.65(M)

Stock-based comp.$23.90(M)

Debt issued$245.38(M)

Debt repaid$-336.46(M)

Per share data

Growth Estimates

Revenue

CAGR: 8.0%

FY+1$5.04(B)

FY+2(+19.1%)$6.00(B)

FY+3(+11.3%)$6.68(B)

FY+4(+0.7%)$6.73(B)

FY+5(+1.9%)$6.86(B)

Net Income

CAGR: 18.4%

FY+1$1.61(B)

FY+2(+56.3%)$2.52(B)

FY+3(+22.3%)$3.09(B)

FY+4(+8.0%)$3.33(B)

FY+5(-4.8%)$3.18(B)

EPS

CAGR: 17.8%

FY+1$15.37

FY+2(+56.1%)$23.99

FY+3(+18.8%)$28.50

FY+4(+8.6%)$30.94

FY+5(-4.3%)$29.61

FCF per share

CAGR: 45.6%

FY+1$13.27

FY+2(+95.2%)$25.90

FY+3(+27.0%)$32.90

FY+4(+24.4%)$40.93

Historical Financials

Showing limited histrical data. Access 10+ years of financials now! Upgrade

YearlyQuarterly

Income

	FY2005	FY2006	FY2007	FY2008	FY2009	FY2010	FY2011	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	TTM	5Y avg	5Y CAGR
Revenue																2.71(B)	2.92(B)	2.62(B)	3.32(B)	4.21(B)	4.26(B)	3.16(B)	12%
COGS																2.03(B)	2.19(B)	2.55(B)	2.02(B)	2.35(B)	2.40(B)	2.23(B)	4%
Gross Profit																680.67(M)	729.95(M)	69.86(M)	1.30(B)	1.86(B)	1.86(B)	927.81(M)	29%
Total OpEx.																357.18(M)	290.49(M)	350.61(M)	414.71(M)	464.13(M)	483.31(M)	375.42(M)	7%
R&D																93.74(M)	99.11(M)	112.80(M)	152.31(M)	191.38(M)	201.02(M)	129.87(M)	20%
SG&A																222.92(M)	170.32(M)	164.72(M)	197.62(M)	188.26(M)	195.60(M)	188.77(M)	-4%
Operating Income																323.49(M)	439.47(M)	-280.75(M)	885.97(M)	1.39(B)	1.37(B)	552.38(M)	44%
Interest Expense																-24.04(M)	-13.11(M)	-12.22(M)	-12.96(M)	-38.87(M)	-39.19(M)	-20.24(M)	13%
Interest Income																16.56(M)	6.18(M)	33.28(M)	97.67(M)	89.09(M)	80.71(M)	48.56(M)	52%
Pre-tax income																293.19(M)	572.16(M)	8.60(M)	891.29(M)	1.41(B)	1.37(B)	634.32(M)	48%
Income tax																107.29(M)	-103.47(M)	-52.76(M)	-60.51(M)	-114.29(M)	-102.92(M)	-44.75(M)	N/A%
Net Income																398.36(M)	468.69(M)	-44.17(M)	830.78(M)	1.29(B)	1.26(B)	589.14(M)	34%

Cash flow

Stock-based Comp.FCFCFONet IncomeD&ACFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Per share data

EPS (Basic)FCF/ShareDividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share

Ratios

P/EP/SEV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Shares outstanding

Shares (Basic)Shares (Diluted)

Market Cap.

Similar Companies

Ownership

Major holders

Insiders: 5.55%
Institutions: 92.53%
Other: 1.92%

Institutional ownership

Insider transactions

Show:

Buys

Sells

Grants

	Date	Shares	Total ($)	Price ($)	Name	Title
Grant	2025-03-31	356	0	0.0	STEBBINS PAUL H	Director
Grant	2025-03-31	356	0	0.0	SWEENEY MICHAEL T	Director
Grant	2025-03-31	356	0	0.0	POST WILLIAM J.	Director
Grant	2025-03-31	505	0	0.0	AHEARN MICHAEL J	Director
Grant	2025-03-31	356	0	0.0	RENDUCHINTALA VENKATA S M	Director
Grant	2025-03-31	356	0	0.0	JOSEPH MOLLY E.	Director
Grant	2025-03-31	356	0	0.0	KRO LISA A	Director
Grant	2025-03-31	356	0	0.0	GEORGE ANITA M	Director
Grant	2025-03-31	356	0	0.0	WRIGHT NORMAN L	Director
Sell	2025-03-18	503	64,301	127.8	VERMA KUNTAL KUMAR	Officer
Sell	2025-03-17	229	30,629	133.8	ANTOUN GEORGES J	Officer
Sell	2025-03-17	599	80,116	133.7	BRADLEY ALEXANDER R.	Chief Financial Officer
Sell	2025-03-17	363	48,551	133.7	DYMBORT JASON E	General Counsel
Sell	2025-03-17	380	50,825	133.8	GLOECKLER MARKUS	Chief Technology Officer
Sell	2025-03-17	186	24,878	133.8	BUEHLER PATRICK JAMES	Officer
Sell	2025-03-17	273	36,514	133.8	KORALEWSKI MICHAEL	Officer
Sell	2025-03-17	404	54,035	133.8	VERMA KUNTAL KUMAR	Officer
Sell	2025-03-17	35	4,681	133.7	THEURER NATHAN B	Officer
Sell	2025-03-17	1,966	262,952	133.7	WIDMAR MARK R	Chief Executive Officer
Sell	2025-03-17	341	45,609	133.8	STOCKDALE CAROLINE	Officer
Sell	2025-03-07	147	19,545	133.0	ANTOUN GEORGES J	Officer
Sell	2025-03-07	391	51,987	133.0	BRADLEY ALEXANDER R.	Chief Financial Officer
Sell	2025-03-07	320	42,547	133.0	DYMBORT JASON E	General Counsel
Sell	2025-03-07	378	50,259	133.0	GLOECKLER MARKUS	Chief Technology Officer
Sell	2025-03-07	192	25,528	133.0	BUEHLER PATRICK JAMES	Officer
Sell	2025-03-07	188	24,996	133.0	KORALEWSKI MICHAEL	Officer
Sell	2025-03-07	419	55,710	133.0	VERMA KUNTAL KUMAR	Officer
Sell	2025-03-07	31	4,122	133.0	THEURER NATHAN B	Officer
Sell	2025-03-07	1,272	169,125	133.0	WIDMAR MARK R	Chief Executive Officer
Sell	2025-03-07	227	30,182	133.0	STOCKDALE CAROLINE	Officer
Sell	2025-02-28	7,475	1,021,086	136.6	VERMA KUNTAL KUMAR	Officer
Sell	2025-02-28	21,542	3,039,361	141.1	WIDMAR MARK R	Chief Executive Officer
Grant	2025-02-26	12,006	0	0.0	STOCKDALE CAROLINE	Officer
Grant	2025-02-26	72,838	0	0.0	WIDMAR MARK R	Chief Executive Officer
Grant	2025-02-26	23,478	0	0.0	ANTOUN GEORGES J	Officer
Grant	2025-02-26	21,610	0	0.0	BRADLEY ALEXANDER R.	Chief Financial Officer
Grant	2025-02-26	12,806	0	0.0	DYMBORT JASON E	General Counsel
Grant	2025-02-26	12,806	0	0.0	GLOECKLER MARKUS	Chief Technology Officer
Grant	2025-02-26	6,402	0	0.0	BUEHLER PATRICK JAMES	Officer
Grant	2025-02-26	9,604	0	0.0	KORALEWSKI MICHAEL	Officer
Grant	2025-02-26	13,606	0	0.0	VERMA KUNTAL KUMAR	Officer
Grant	2024-12-31	256	0	0.0	STEBBINS PAUL H	Director
Grant	2024-12-31	256	0	0.0	SWEENEY MICHAEL T	Director
Grant	2024-12-31	256	0	0.0	POST WILLIAM J.	Director
Grant	2024-12-31	362	0	0.0	AHEARN MICHAEL J	Director
Grant	2024-12-31	256	0	0.0	RENDUCHINTALA VENKATA S M	Director
Grant	2024-12-31	256	0	0.0	JOSEPH MOLLY E.	Director
Grant	2024-12-31	256	0	0.0	KRO LISA A	Director
Grant	2024-12-31	256	0	0.0	GEORGE ANITA M	Director
Grant	2024-12-31	256	0	0.0	WRIGHT NORMAN L	Director
Sell	2024-10-31	3,601	714,871	198.5	GLOECKLER MARKUS	Chief Technology Officer
Grant	2024-09-30	181	0	0.0	STEBBINS PAUL H	Director
Grant	2024-09-30	181	0	0.0	SWEENEY MICHAEL T	Director
Grant	2024-09-30	181	0	0.0	POST WILLIAM J.	Director
Grant	2024-09-30	181	0	0.0	JOSEPH MOLLY E.	Director
Grant	2024-09-30	256	0	0.0	AHEARN MICHAEL J	Director
Grant	2024-09-30	181	0	0.0	RENDUCHINTALA VENKATA S M	Director
Grant	2024-09-30	181	0	0.0	KRO LISA A	Director
Grant	2024-09-30	181	0	0.0	GEORGE ANITA M	Director
Grant	2024-09-30	181	0	0.0	WRIGHT NORMAN L	Director
Sell	2024-08-13	8,619	1,913,418	222.0	BUEHLER PATRICK JAMES	Officer
Sell	2024-08-12	500	110,000	220.0	JEFFERS BYRON MICHAEL	Officer
Sell	2024-08-07	1,766	382,339	216.5	JEFFERS BYRON MICHAEL	Officer
Grant	2024-08-01	36,966	0	0.0	AHEARN MICHAEL J	Director
Grant	2024-06-28	200	0	0.0	STEBBINS PAUL H	Director
Grant	2024-06-28	200	0	0.0	SWEENEY MICHAEL T	Director
Grant	2024-06-28	200	0	0.0	POST WILLIAM J.	Director
Grant	2024-06-28	200	0	0.0	CHAPMAN RICHARD D	Director
Grant	2024-06-28	200	0	0.0	KENNEDY RAYMOND CRAIG	Director
Grant	2024-06-28	200	0	0.0	HAMBRO GEORGE A	Director
Grant	2024-06-28	200	0	0.0	JOSEPH MOLLY E.	Director
Grant	2024-06-28	283	0	0.0	AHEARN MICHAEL J	Director
Grant	2024-06-28	200	0	0.0	RENDUCHINTALA VENKATA S M	Director
Grant	2024-06-28	200	0	0.0	KRO LISA A	Director
Grant	2024-06-28	200	0	0.0	GEORGE ANITA M	Director
Grant	2024-06-28	200	0	0.0	WRIGHT NORMAN L	Director
Sell	2024-06-20	1,621	421,460	260.0	VERMA KUNTAL KUMAR	Officer
Sell	2024-06-03	2,308	630,684	273.3	DYMBORT JASON E	General Counsel
Sell	2024-06-03	36,692	10,026,456	273.3	WIDMAR MARK R	Chief Executive Officer
Sell	2024-05-30	4,000	1,094,020	273.5	SWEENEY MICHAEL T	Director
Sell	2024-05-30	16,051	4,409,007	274.7	BRADLEY ALEXANDER R.	Chief Financial Officer
Sell	2024-05-30	4,646	1,267,986	272.9	KORALEWSKI MICHAEL	Officer
Sell	2024-05-23	4,000	1,001,400	250.3	STEBBINS PAUL H	Director
Sell	2024-05-22	7,264	1,808,373	249.0	CHAPMAN RICHARD D	Director
Sell	2024-05-21	12,406	2,543,230	205.0	STOCKDALE CAROLINE	Officer
Sell	2024-05-09	7,150	1,363,613	190.7	CHAPMAN RICHARD D	Director
Sell	2024-05-06	2,000	393,456	196.7	KENNEDY RAYMOND CRAIG	Director

Tools

Dividend Income

Investment Amount
Dividend Yield

What is the Dividend Income Calculator?

The Dividend Income Calculator helps you estimate the yearly, quarterly, monthly, and daily income of your investments.

How to Use This Calculator?

Enter the dividend yield and the invested amount. Optionally, preload stock data to automatically fetch the dividend yield.

Required Investment

Dividend Yield
Desired Yearly Payout
Desired Quarterly Payout
Desired Monthly Payout

What is the Required Investment Calculator?

The Required Investment Calculator helps you determine the amount of money you need to invest in a stock to achieve a desired dividend.

How to Use This Calculator?

Enter the dividend yield and your desired dividend income. Optionally, preload stock data to automatically fetch the dividend yield.

Future Dividend Yield

Base Dividend
Current Price
Number of Years
Dividend Growth Rate

What is the Future Yield Calculator?

The Future Yield Calculator helps you estimate the future dividend yield of a stock based on its current dividend, price, and expected dividend growth rate.

How to Use This Calculator?

Enter the base dividend, current price, number of years, and dividend growth rate. Optionally, preload stock data to automatically fetch the dividend and price. The calculator will display the current yield and the projected future yield.

About

Terms & privacy

Price charts & news courtesy of TradingView

Blog

Contact