First Solar (FSLR) AI Stock Analysis

• Market Cap: $19.69B
• Dividend Yield: N/A
• Average Volume (3M): 4.38M
• Price to Earnings (P/E): 15.5
• Beta (1Y): 1.13
• Revenue Growth: 19.42%
• EPS Growth: 23.19%
• Country: US
• Employees: 8,100
• Sector: Technology
• Sector Strength: 96
• Industry: Solar
• EPS (TTM): 1.95
• Shares Outstanding: 107,244,480
• 10 Day Avg. Volume: 2,651,684
• 30 Day Avg. Volume: 4,381,642
• PEG Ratio: -7.01
• Price to Book (P/B): 2.24
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.84
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 1.13
• Enterprise Value/Gross Profit: 9.84
• Enterprise Value/Ebitda: 2.66
• 1Y Price Target: $210.11
• Price Target Upside: 15.56% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 20

• Rating: 79 Outperform
• Price Target: $212.00 ▲(16.60%Upside)

First Solar demonstrates strong financial performance and positive technical momentum, supported by strategic financial maneuvers. However, missed earnings guidance and policy uncertainties pose risks. The stock's moderate valuation aligns with industry peers, but the lack of dividends may deter income investors.

Positive Factors

Market Demand

FSLR is experiencing strong demand from customer inquiries as developers and EPCs rush to secure supply with the Senate bill nearing completion.

Price Target

Raising the price target to $194.00, driven by expected stronger volume growth through 2027.

Regulatory Advantages

First Solar is well-positioned in the U.S. market with significant pricing power, benefiting from current policy momentum and regulatory protections.

Negative Factors

Political Influence

President Trump's executive order adds uncertainty by tightening guidance around the 'beginning of construction' rule, potentially affecting project development timelines.

Regulatory Uncertainty

Potential changes to Treasury’s interpretation of rules and any erosion of the safeharboring window could impact First Solar’s supply and demand dynamics.

Tariff Risks

FSLR is seen as one of the most macro-entangled names within renewables, with concerns about tariffs affecting the company's facilities and street estimates.

First Solar Business Overview & Revenue Model

Company Description

First Solar, Inc. is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions. The company is prominently engaged in the design, manufacture, and sale of solar modules with an advanced thin-film semiconductor technology. First Solar operates primarily in the solar energy sector, focusing on providing environmentally sustainable and economically viable solar power alternatives to traditional fossil fuels. Its innovative solar modules are used in utility-scale solar power projects around the world, contributing to the transition towards renewable energy sources.

How the Company Makes Money

First Solar makes money through the sale of its advanced thin-film photovoltaic solar modules and the development of large-scale solar power projects. The company's revenue model is centered on manufacturing and selling these high-performance solar modules to utility companies, independent power producers, and commercial customers globally. Additionally, First Solar engages in the development, financing, engineering, procurement, and construction of solar power plants, which it either sells upon completion or operates under power purchase agreements. Key revenue streams include the direct sale of solar modules, project development services, and operations and maintenance services for solar installations. Significant partnerships with energy companies and government incentives for renewable energy further contribute to First Solar's earnings.

First Solar Financial Statement Overview

Summary

First Solar demonstrates robust financial health with strong profitability and a stable balance sheet. The company effectively manages costs, resulting in high margins and solid revenue growth. While cash flow challenges persist due to capital investments, the balance sheet strength mitigates potential risks.

Income Statement

First Solar exhibits strong profitability with a gross profit margin of 43.5% and a net profit margin of 29.7% in the TTM (Trailing-Twelve-Months). The company has shown robust revenue growth of 28.3% from 2023 to 2024 and maintains a healthy EBIT margin of 32.9%. Stability is evident in the consistent EBITDA margin of 37.5%. These metrics indicate effective cost management and a solid profit trajectory.

Balance Sheet

The balance sheet is solid with a debt-to-equity ratio of 0.06, showcasing low leverage and prudent financial management. Return on equity is impressive at 15.4%, indicating effective use of equity capital. The equity ratio stands at 67.6%, highlighting a strong capital structure with substantial shareholder equity.

Cash Flow

Cash flow analysis shows a challenging environment with negative free cash flow growth, but the operating cash flow to net income ratio is 0.27, indicating some efficiency in cash generation. Free cash flow to net income ratio is negative, reflecting high capital expenditures. While operating activities are positive, the company faces cash flow constraints due to significant investments.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.21B	3.32B	2.62B	2.92B	2.71B
Gross Profit	1.86B	1.30B	69.86M	729.95M	680.67M
EBITDA	1.87B	1.21B	46.78M	699.37M	573.81M
Net Income	1.29B	830.78M	-44.17M	468.69M	398.36M
Balance Sheet
Total Assets	12.12B	10.37B	8.25B	7.41B	7.11B
Cash, Cash Equivalents and Short-Term Investments	1.79B	2.10B	2.58B	1.83B	1.75B
Total Debt	718.80M	624.39M	193.54M	239.90M	279.23M
Total Liabilities	4.15B	3.68B	2.42B	1.45B	1.59B
Stockholders Equity	7.98B	6.69B	5.84B	5.96B	5.52B
Cash Flow
Free Cash Flow	-308.08M	-784.51M	-30.24M	-302.73M	-379.51M
Operating Cash Flow	1.22B	602.26M	873.37M	237.56M	37.12M
Investing Cash Flow	-1.56B	-472.79M	-1.19B	-99.04M	-131.23M
Financing Cash Flow	24.85M	336.85M	309.39M	40.55M	-82.59M

First Solar Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 181.82
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSLR, the sentiment is Positive. The current price of 181.82 is above the 20-day moving average (MA) of 173.65, above the 50-day MA of 165.05, and above the 200-day MA of 166.70, indicating a bullish trend. The MACD of 5.94 indicates Negative momentum. The RSI at 59.96 is Neutral, neither overbought nor oversold. The STOCH value of 83.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FSLR.

First Solar Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FSLR	79 Outperform	$19.69B	15.46	16.77%	―	19.42%	23.19%
NXT	76 Outperform	$9.67B	18.73	39.33%	―	21.46%	123.22%
Sector *	63 Neutral	$34.93B	5.90	-12.00%	2.00%	5.61%	-19.55%
ENPH	61 Neutral	$4.57B	26.37	19.79%	―	4.39%	37.70%
ARRY	57 Neutral	$1.08B	―	-49.11%	―	-21.31%	-593.57%
SEDG	55 Neutral	$1.60B	―	-121.50%	―	-57.89%	-559.87%
CSIQ	53 Neutral	$827.78M	20.05	-0.39%	―	-19.06%	-104.91%

First Solar Corporate Events

First Solar Sells $311.86M in Tax Credits

On June 20, 2025, First Solar, Inc. entered into a Tax Credit Transfer Agreement with a leading financial institution to sell $311.86 million of advanced manufacturing production tax credits. The purchase price was set at $296.27 million, and the transaction is expected to enhance the company’s financial flexibility and strengthen its position in the renewable energy market.

The most recent analyst rating on (FSLR) stock is a Buy with a $285.00 price target. To see the full list of analyst forecasts on First Solar stock, see the FSLR Stock Forecast page.

First Solar Stockholders Meeting Highlights Key Decisions

On May 14, 2025, First Solar, Inc. held its annual meeting of stockholders where nine board members were elected, and PricewaterhouseCoopers LLP was ratified as the independent public accounting firm for 2025. Additionally, stockholders approved an advisory resolution on executive compensation but did not approve a proposal for a special shareholder meeting improvement.

The most recent analyst rating on (FSLR) stock is a Buy with a $285.00 price target. To see the full list of analyst forecasts on First Solar stock, see the FSLR Stock Forecast page.