FSLR
First Solar
$247.99
▲ 1.6%Updated Aug 7, 11:30 AM ET
FSLR at a glance — five pillars scored 0–100 from real filed financials.
Overall: Strong · 86/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 79.4% over the last 12 months
Market Cap
$24.13B
P/E
16.22x
Forward P/E (est.)
12.33x
ROE
18.0%
Revenue Growth
27.3%
EPS Growth
31.6%
Profit Margin
30.7%
FCF Yield
2.7%
Debt / Equity
0.06x
ROIC
12.0%
Interest Coverage
123.17x
Current Ratio
2.56x
Dividend Yield
—
Implied Growth (rev. DCF)
3.9%
Rating Score
86/100
First Solar (FSLR) is a large-cap company in the Semiconductors industry, part of the Information Technology sector of the S&P 500, with a market value around $24.13B.
In its latest reported year it generated about $5.22B in revenue and $1.53B in net profit.
Our model rates FSLR Strong (86/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
The numbers don't show a durable competitive advantage — margins, growth, or returns on capital have been unstable or thin. Great returns are still possible; they just aren't protected.
41.3% average over the last 3 years
±12.1 pts around 25.3% across 10 years
grew in 6 of the last 9 year-over-year periods
positive in 2 of 10 years
12.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what FSLR's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. FSLR trades near $247.99, above its 50-day average ($245.00) and 200-day average ($235.02). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 22 it is oversold — selling has been heavy and a bounce is possible.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. FSLR's is $13.11 (~5.3% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month FSLR found buyers near $219.02 (support) and sellers near $320.64 (resistance); its 52-week range is $159.85–$320.95. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.2× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
15.6%
Revenue moved from $2.90B in 2016 to $5.22B in 2025, a 6.7% compound annual growth rate. The most recent year grew a strong 27.3% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
40.6%
Operating Margin
30.6%
Net Margin
29.3%
ROE
18.0%
First Solar keeps about 30.7% of each sales dollar as net profit, with a 40.6% gross margin and 30.6% operating margin. Return on equity is 18.0% and return on invested capital about 12.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$438.00M
Net Debt
-$1.92B
Net cash position
Net Debt / EBITDA
-1.21x
Debt / Equity
0.06x
Leverage: debt-to-equity is 0.1x, and operating profit covers interest about 123.2x, with a current ratio of 2.6x. That is a conservative balance sheet — a cushion in downturns. It carries roughly $438.00M of total debt against $2.36B of cash.
Operating CF
$2.06B
Free Cash Flow
$1.19B
FCF Margin
22.7%
In the latest year First Solar produced about $2.06B of operating cash flow and $1.19B of free cash flow after capital spending. That is a free-cash-flow yield of about 2.7% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
P/E
16.22x
P/S
5.52x
P/B
2.76x
EV / EBITDA
—
FSLR trades at 16.2x trailing earnings (about 12.3x on estimated forward earnings), 5.5x sales, and 2.8x book value. Reverse-engineering today's price implies the market expects roughly 3.9% long-term free-cash-flow growth. That is a fairly typical valuation for a profitable company.
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
DCF fair value / share
$457.54
Current price
$247.99
Starting FCF (latest 10-K)
$1.19B
Growth, years 1–5
20.0%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Where FSLR sits versus its Information Technology sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 98 Information Technology companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How FSLR stacks up against its Information Technology peers — valuation, profitability, and growth versus the sector median.
In the Information Technology sector (230 S&P 500 companies), FSLR ranks #4 of 230 by our overall rating. It trades at a discount versus the sector on earnings (16.2x P/E vs. 38.9x median) with a higher return on equity (18.0% vs. 17.5%) and faster revenue growth (27.3% vs. 17.7%).
P/E vs sector
16.2x
median 38.9x
ROE vs sector
18.0%
median 17.5%
Growth vs sector
27.3%
median 17.7%
Sector rank
#4
of 230 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Information Technology companies by sub-industry and size. Sector median is across all 230 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $247.99 today · expected CAGR 16% – 27%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $6.63B | $8.42B | $10.69B | $13.58B | $17.24B |
| Net income | $1.92B | $2.44B | $3.10B | $3.94B | $5.00B |
| EPS | $19.76 | $25.09 | $31.86 | $40.47 | $51.39 |
| Share price (low) | $197.55 | $250.89 | $318.63 | $404.66 | $513.92 |
| Share price (high) | $316.08 | $401.43 | $509.81 | $647.46 | $822.28 |
| CAGR (low–high) | -20% / 27% | 1% / 27% | 9% / 27% | 13% / 27% | 16% / 27% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for FSLR:
- Revenue is growing 27.3% a year, a sign of real demand.
- High net margins (30.7%) point to pricing power or efficiency.
- Strong return on equity (18.0%) shows capital is put to work well.
- A conservative balance sheet (debt/equity 0.1x) lowers risk.
- Our model's overall read is Strong (86/100).
The case against FSLR:
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the fundamentals screen favourably: First Solar is a large-cap information technology business still growing nicely, with solid profitability, and a sound balance sheet. It trades at 16.2x earnings, which our model scores Strong (86/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 49 Wall Street analysts covering FSLR recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more positive over the last three months (+5 pts of buy ratings).
Latest SEC Filings
FSLR's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
FSLR — frequently asked questions
Is FSLR a good stock to buy?
We don't give buy or sell advice. Our model rates First Solar Strong (86/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is FSLR's rating on The Stocks School?
First Solar currently scores 86/100 (Strong) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does FSLR's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from First Solar's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for FSLR calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this FSLR analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell FSLR. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.