Stock Analysis
First Solar, Inc.FSLR
P/E 10.63×· 5Y range 10.22–596.07×· bottom 0% of history
Sector: Technology · Industry: Semiconductors & Related Devices
AnalystsStrong Buy48 analystsP/E 10.6× sits at the 0th percentile of its 5.086926762491444-year history.
Cash covers 890% of debt · Q2 2026.
PMP Verdict
Strong business, attractive price
Strengths
- Financial Health100
- Profitability90
High-quality business at an attractive price.
Market context
-3.5% today· Z 1.0σ
Bull Case
- ✓Piotroski F-Score 7/9 — high earnings quality
- ✓Altman Z 5.2 — safe-zone balance sheet
- ✓ROE 16.9% — efficient capital deployment
- ✓Revenue CAGR 15.6% — durable top-line growth
- ✓Interest coverage 26.4× — debt well covered
What's happening with FSLR
Profile
Strong financial health, valuation, profitability and growth; moat lags behind.
How is each axis scored?
- Valuation95/100 · Strong
- P/E vs own history (0th pct)25/25
- FCF yield (8.1%)25/25
- P/S (3.4x)20/25
- EV/EBIT (9.4x)25/25
- Growth82/100 · Strong
- Revenue CAGR (15.6%)20/25
- Net income CAGR (34.4%)25/25
- EPS CAGR 5Y (34.2%)25/25
- Fwd implied growth (15.0%)12/25
- Profitability90/100 · Strong
- ROIC (16.3%)20/25
- ROE (16.9%)20/25
- Net margin (32.5%)25/25
- Operating margin (33.6%)25/25
- Financial Health100/100 · Strong
- Altman Z (5.18)25/25
- Current ratio (2.52)25/25
- Interest coverage (26.4x)25/25
- Net cash / debt (Net cash)25/25
- Quality70/100 · Moderate
- Piotroski F (7/9)22/25
- Beneish M (-2.38)20/25
- FCF conversion (86%)22/25
- Margin stability (σ 16.1%)6/25
- Moat12/100 · Weak
- ROIC >12% years (3/10 yrs)6/25
- Median gross margin (24.4%)6/25
- FCF-positive years (2/10 yrs)0/25
- Worst-year net margin (worst -12.1%)0/25
Risk Flags
- ⚠4 loss-making years in recent history
About First Solar, Inc.
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. Show more
The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
Headquarters: PHOENIX, AZ · Employees: 7,900 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
95A+P/E (TTM)10.6xA
Grade A: CheapPrice / TTM EPS (own statements) — vs own 5Y history: 10.2x–596.1x · lowest in history
P/FCF9.0xA
Grade A: CheapPrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield8.1%A
Grade A: ValueTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -7.6%–8.3% · highest in history
P/S (TTM)3.45xB
Grade B: FairPrice / TTM Revenue (own statements) — vs own 5Y history: 2.6x–9.1x · 13th pct
EV/EBIT9.4xA
Grade A: CheapEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 9.2x–471.0x · lowest in history
EV/Sales3.3xB
Grade B: FairEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E9.2xA
Grade A: CheapPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio1.80xA
Grade A: FairPrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio0.46A
Grade A: CheapFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
90A+ROIC16.3%A
Grade A: MoatNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE16.9%C
Grade C: AverageReturn on Equity. Neg. equity = heavy buybacks
ROA13.1%A
Grade A: StrongReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin32.5%A
Grade A: HighNet Income / Revenue
Operating Margin33.6%A
Grade A: HighTTM EBIT / TTM Revenue
Gross Margin44.0%C
Grade C: AverageGross Profit / Revenue
FCF Margin27.9%A
Grade A: HighFCF / Revenue
True FCF Margin27.5%A
Grade A: HighTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
82ARevenue CAGR15.6%A
Grade A: HighCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR34.4%A
Grade A: HighCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)34.2%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth15.0%B
Grade B: LowAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)+0.6%B
Grade B: FlatShare count change over 5Y
SBC / Net Income1.4%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.4%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
100A+Altman Z-Score5.18A
Grade A: SafeBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio2.52xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio1.95xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage26.4xA
Grade A: StrongEBIT/Interest. >10 Strong
Debt RepaymentNet CashA
Grade A: FastYears to repay net debt via FCF
Net Debt/EBITNet CashA
Grade A: LowLeverage. <2x Low, >4x High
Debt/Equity0.02xA
Grade A: LowDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt8.90xA
Grade A: CoveredCash covers how much of total debt. >1 = could repay all debt from cash
Quality
70B+Piotroski F-Score7/9A
Grade A: StrongFinancial strength 0–9. >7 Strong
Beneish M-Score-2.38A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion85.9%A
Grade A: StrongFCF / Net Income
Margin Stability16.1%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue12.2%C
Grade C: AverageTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.40xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Gloeckler Markus Filed | Gloeckler Markus | SellOpen market sale | -800 | |
Ahearn Michael J Filed | Ahearn Michael J | Grant / award | +422 | |
Sweeney Michael T Filed | Sweeney Michael T | Grant / award | +300 | |
George Anita M. Filed | George Anita M. | Grant / award | +300 | |
KRO LISA A Filed | KRO LISA A | Grant / award | +300 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Wright Norman L. Filed | Wright Norman L. | Grant / award | +300 | |
RENDUCHINTALA VENKATA S M Filed | RENDUCHINTALA VENKATA S M | Grant / award | +300 | |
MORGAN CURTIS A Filed | MORGAN CURTIS A | Grant / award | +300 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
12EROIC >12% Years3/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)24.4%D
Grade D: WeakMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years2/10 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor-12.1%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$16.25
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$16.07
Cash & short-term investments per share (Finnhub)
Book Value / Share$96.03
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$194.01M
Total debt obligations (short + long term)
Cash & Equiv.$1.73B
Cash and short-term investments
Net Debt$-1.53BA
Grade A: Net CashTotal Debt minus Cash. Negative = Net Cash position
Total Equity$10.32B
Shareholders' equity (book value)
Asset / Liability4.36xA
Grade A: SolidTotal Assets / Total Liabilities
Market
Market Cap$18.54B
Current Market Capitalization
Beta1.75C
Grade C: VolatilePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 16, 2026
Key Insights: First Solar, Inc. (FSLR)
FSLR is down 3.45% at the last close. First Solar, Inc. meets 7 of 9 Piotroski F-Score criteria, placing its fundamental strength in the top tier of US-listed stocks. Altman Z-Score of 5.18 sits comfortably in the safe zone (≥ 2.99), indicating low bankruptcy risk. Beneish M-Score of -2.38 suggests a low likelihood of earnings manipulation. Revenue has compounded at roughly 16% annually, with net income growing about 34% per year — a strong growth profile.
- First Solar, Inc. converts about 28% of revenue into free cash flow — strong cash generation.
- Company is effectively debt-free after netting cash.
- First Solar, Inc. posted a net loss in 4 of 10 available completed fiscal years (2016–2025).
- At a valuation score of 95/100, FSLR trades near the cheapest end of its own historical range (P/E 10.6).
See how FSLR ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all FSLR moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Sep 24 | Regular | 172.35 | -10.22% | -3.57 |
| Sep 24 | After-hours | 173.35 | -9.70% | -3.37 |
| Sep 17 | Regular | 201.33 | +5.37% | 2.40 |
Frequently Asked Questions about FSLR
What is the current First Solar, Inc. (FSLR) stock price?
FSLR is trading at $172.64 at the last market close, down 3.45% on the session. PreMarketPrice tracks FSLR pre-market, intraday and after-hours prices.
Is FSLR stock a buy right now?
PreMarketPrice's quantitative model rates First Solar, Inc.'s financial health at 100/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is FSLR stock overvalued?
First Solar, Inc. trades at a trailing P/E of 10.6 and our valuation score rates it 95/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does First Solar, Inc. report earnings?
No confirmed earnings date is currently scheduled for FSLR. The Earnings section lists recent reports and updates as dates are announced.
What sector does First Solar, Inc. operate in?
First Solar, Inc. operates in the Technology sector, within the Semiconductors & Related Devices industry. The Related Stocks section lists sector peers for comparison.
What does First Solar, Inc. do?
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects.
About First Solar, Inc. (FSLR) Stock
First Solar, Inc. (FSLR) is a US-listed stock operating in the Technology sector, specifically the Semiconductors & Related Devices industry. As of the latest update, First Solar, Inc. is trading at $172.64, down 3.45% on the day with a market capitalization of $18.5 billion. The financial health score for FSLR is 100/100, which indicates excellent financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for FSLR stock.
FSLR Stock Analysis & Key Metrics
On PreMarketPrice, you can track First Solar, Inc. (FSLR) across multiple dimensions:
- Pre-market price & movement: Real-time FSLR stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for FSLR with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for First Solar, Inc. across multiple reporting periods.
- Financial health score: A composite score of 100/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for FSLR.
- Sector peers: Compare FSLR against 6 other technology stocks on key financial metrics.
Is FSLR a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate First Solar, Inc. (FSLR) as an investment. The financial health score of 100/100 suggests excellent financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.First Solar, Inc. (FSLR) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.