Stock AnalizFirst Solar, Inc. FSLR
Semiconductors · IPO 2006 · data as of November 13, 2026
First Solar, Inc. (FSLR) is a technology company listed in the US with a market value of about $18.4B. In the twelve months to September 30, 2026 it had revenue of $5.0B and net income of $1.9B, a net margin of 37.1%.
Its overall Stock Analiz score is 3.4 out of 5 (good). The strongest part is financial health (5/5); the weakest is shareholder returns (1/5).
Key numbers: a P/E of 9.9, a price to free cash flow of 79.1, 5-year revenue growth of 14% a year, a 5-year average ROIC of 10%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 35% above the current price.
Score: 3.4 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- Revenue growth above 10% last year
- 3-year revenue growth above 10% a year
- Profit margin improving
- Strong R&D investment or growth above 20%
Checks not passed
- P/FCF below 20
- 3-year free cash flow growth above 10% a year
- 5-year average ROIC above 12%
- Profitable 5 years in a row
- Pays a dividend
- Share count down over 3 years (buybacks)
- 20% to 100% of free cash flow returned to shareholders
- Dividend 3 years in a row
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.0B | $5.2B | $4.2B | $3.3B | $2.6B | $2.9B | $2.7B | $3.1B | $2.2B | $2.9B | $2.9B |
| Net income | $1.9B | $1.5B | $1.3B | $831M | -$44M | $469M | $398M | -$115M | $144M | -$166M | -$416M |
| Free cash flow | $233M | $1.2B | -$308M | -$785M | -$30M | -$303M | -$380M | -$495M | -$1.1B | $826M | -$23M |
| EPS (diluted) | $17.28 | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 | $-1.09 | $1.36 | $-1.59 | $-4.05 |
| Net margin | 37.1% | 29.3% | 30.7% | 25.0% | -1.7% | 16.0% | 14.7% | -3.8% | 6.4% | -5.6% | -14.3% |
| ROIC | — | 15.2% | 14.8% | 10.9% | -0.4% | 7.6% | 4.2% | -2.7% | 0.7% | 2.6% | -8.3% |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 30 analysts is $252.57, 47% above the current price; targets range from $169.00 to $328.00; the consensus rating is “Buy”; expected EPS is $17.59 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is First Solar’s P/E ratio?
About 9.9, based on the last twelve months of diluted earnings per share (forward P/E about 8.0).
Is First Solar stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 35% above the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does First Solar pay a dividend?
Not currently.
Is First Solar a good stock to buy?
We do not give buy or sell advice. First Solar scores 3.4 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.