First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity.
It is a $19.1B technology company. Revenue grew 23.8% over the last year, it keeps 32¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 10.9× earnings — near the lowest of its own history.
- Website
- firstsolar.com
- Location
- Phoenix, AZ
- Employees
- 7 900
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, growth, profitability and health; Moat lags behind.
Valuation90
- P/E vs own history2th pct · 25/25
- FCF yield7.9% · 20/25
- P/S3.6x · 20/25
- EV/EBITDA7.3x · 25/25
Growth90
- Revenue CAGR15.6% · 20/25
- Net income CAGR34.4% · 25/25
- EPS CAGR ~5Y30.6% · 25/25
- Fwd implied growth18.5% · 20/25
Profitability90
- ROIC21.3% · 20/25
- ROE18.0% · 20/25
- Net margin32.5% · 25/25
- Operating margin33.6% · 25/25
Health100
- Altman Z5.17 · 25/25
- Current ratio2.52 · 25/25
- Interest coverage1686.4x · 25/25
- Net cash / debtNet cash · 25/25
Quality70
- Piotroski F7/9 · 22/25
- Beneish M-2.38 · 20/25
- FCF conversion86% · 22/25
- Margin stabilityσ 16.1% · 6/25
Moat12
- ROIC >12% years3/10 yrs · 6/25
- Median gross margin24.4% · 6/25
- FCF-positive years2/10 yrs · 0/25
- Worst-year net marginworst -12.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$1.53B net income
- FY2018FinancialTurned profitable$144M net income after a loss year
- FY2016FinancialRevenue already above $1B$2.95B in first reported year
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (44.0%)
- Strongly profitable — 32.5% net margin
- Revenue growing 23.8% year over year
- Strong cash conversion — FCF is 27.9% of revenue
- Net cash position after subtracting debt from cash
Watch-outs
- Loss-making in 4 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+23.8% YoY
- Profitable — makes more than it spends$1.75B TTM
- Profit growing — earnings are higher than last year+30.6% YoY
- Generates cash — cash left after running and investing$1.50B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$19.1B market cap
- Not printing shares — share count not ballooning — you keep your slice+0.8% shares over ~5y
- Proven track record — years of profitability behind it6/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 5.2 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 10.9
Peer comparisonFirst Solar, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| FSLR this company | $19.1B | 10.9 | +23.8% | 32.5% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: FSLR vs NVDA · FSLR vs AAPL · FSLR vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/FSLR
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of FSLR on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $177.45 · market cap $19.1B.