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Earnings transcript
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FSLR
First Solar, Inc.
$195.96
-5.2
(-2.59%)
| Exchange: | NASDAQ |
| Market Cap: | 21.06B |
| Shares Outstanding: | 53.757M |
Delayed data
About The Company
| Sector: | EnergyView sector performance | |||||
| Industry: | SolarView industry performance | |||||
| CEO: | Mark R. Widmar | |||||
| Full Time Employees: | 7900 | |||||
| Address: |
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| Website: | https://www.firstsolar.com |
First Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company’s primary activity involves the engineering, manufacturing, and sale of cadmium telluride solar modules, which are designed to convert solar radiation directly into electricity. Its clientele is broad, serving system developers and operators, utility companies, independent power producers, commercial and industrial businesses, and various other system owners. Founded in 1999, the firm is based in Tempe, Arizona, and underwent a name change in 2006 from its former designation, First Solar Holdings, Inc.
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Revenue Segmentation
FSLR full analysis
Welcome to MARKETSNAP’s SWOT analysis for First Solar, also known by its ticker FSLR. If you’re a long-term investor looking to dive into the renewable energy space, you’ve likely got your eye on this player. Today, we’re breaking down First Solar’s strengths, weaknesses, opportunities, and threats to help you gauge whether this stock fits into your wealth-building strategy. Let’s get right into it with a quick overview of who they are and what’s been happening with them lately, before we…
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 3,318,602 | 4,206,289 | 5,219,376 |
| Gross Profit | 1,300,679 | 1,857,864 | 2,120,339 |
| EBITDA | 1,212,249 | 1,868,706 | 2,154,260 |
| Operating Income | 857,266 | 1,394,420 | 1,596,864 |
| Net Income | 830,777 | 1,292,044 | 1,528,229 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 10,365,132 | 12,124,361 | 13,321,310 |
| Total Liabilities | 3,677,663 | 4,146,784 | 3,783,317 |
| Total Stockholders Equity | 6,687,469 | 7,977,577 | 9,537,993 |
| Total Debt | 624,389 | 718,802 | 498,572 |
| Cash and Cash Equivalents | 1,946,994 | 1,621,376 | 2,803,514 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 602,260 | 1,217,999 | 2,057,105 |
| Capital Expenditure | -1,386,775 | -1,526,076 | -869,875 |
| Free Cash Flow | -784,515 | -308,077 | 1,187,230 |
| Net Income | 830,777 | 1,292,044 | 1,528,229 |
| Net Change in Cash | 471,607 | -326,846 | 1,175,808 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 6,687,206.683 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 7,927,232.845 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 7,217,332.750 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 5,606,945.765 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 6,616,138.644 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 6,038,387.826 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 2,972,528.103 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 3,706,548.787 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 3,286,330.750 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 353,747.199 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 419,343.464 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 381,790.390 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 30.560 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 34.470 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 27.640 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 13 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 11 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Strengths (preview)
- Robust Revenue Growth and Profitability: First Solar has demonstrated significant revenue growth, increasing from $3.32 billion in 2023 to $4.21 billion in 2024, a year-over-year increase of approximately 26.7%. Net income also surged from $830.8 million to $1.29 billion over the same period, reflecting strong operational efficiency with a net profit margin of 29.7% in 2024. This performance aligns with capacity expansion and strong demand noted in recent news.
- U.S. Market Dominance and Geopolitical Positioning: The company generates a substantial portion of its revenue ($3.90 billion in 2024) from the United States, benefiting from a vertically integrated model and tariff protections. Seeking Alpha highlights FSLR’s strategic importance in domestic energy security, enhancing its resilience and long-term growth potential.
- Solid Balance Sheet: First Solar maintains a low debt-to-equity ratio of 0.077 in 2024, indicating minimal financial leverage and a strong capital structure. Total assets grew to $12.12 billion in 2024 from $10.37 billion in 2023, supported by $1.62 billion in cash and cash equivalents, providing liquidity for future investments.
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Intrinsic Value Calculator
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about FSLR valuation
Is First Solar, Inc. (FSLR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for First Solar, Inc. (FSLR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is FSLR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FSLR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is FSLR’s P/E ratio?
You can see FSLR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for FSLR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is FSLR a good long-term investment?
Whether FSLR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
FSLR
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Daily snapshot
-2.59
Trading Metrics:
| Open: | 202 | Previous Close: | 201.16 | |
| Day Low: | 192.42 | Day High: | 202.41 | |
| Year Low: | 182.99 | Year High: | 320.95 | |
| Price Avg 50: | 214.75 | Price Avg 200: | 228.44 | |
| Volume: | 2.745M | Average Volume: | 2.368M |
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