First Solar Inc

First Solar Inc

FSLR

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Market Cap$32.97B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
First Solar IncFirst Solar Inc19.8-17%6.40.2

Earnings Call Q1 2026

April 30, 2026 - AI Summary

Q1 results strong; margins expand mainly from freight/tax mix - Revenue: $1.0B, +24% YoY (driven by +31% volume, partly offset by lower ASP mix from higher India deliveries). - Gross margin: 47% and expanded ~6 pp YoY. - Adjusted EBITDA: $520M (above Q1 preview high end $400–$500M), 50% EBITDA margin. - EPS (diluted): $3.22, +65% YoY; net income $347M.
Guidance unchanged for 2026; Q2 looks flat-to-stable margin despite cost tailwinds - Full-year 2026 guidance: unchanged. - Q2 outlook: 3.4–4.0 GW volumes sold and $400–$500M adjusted EBITDA. - Margin expectation: guided to remain around 7% full-year (ex-IRA benefit referenced by management); Q2 implies flattish margins because: - Malaysia/Vietnam utilization is expected lower in Q2 → underutilization charges headwind. - Tariff assumptions remain important; incremental benefit depends on whether additional tariffs are avoided/replaced.
Bookings/backlog: strong demand but selectively priced due to US policy uncertainty - Contracted backlog: 47.9 GW with aggregate transaction price $14.4B (deliveries through 2030, excluding technology adjusters). - In Q1, company sold ~3.8 GW; gross bookings ~1.7 GW; debookings 0.1 GW. - US utility-scale focus: ~1.4 GW booked since last call into key US market at ~$0.35/W inclusive of adjusters (management noted this is call-to-call; pricing discipline ongoing). - Management is selective on incremental US bookings pending: - Section 232 polysilicon derivatives decision and - FEOC rulemaking.

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Target Price by Analysts

21.1% downsideFirst Solar Target Price DetailsTarget Price
$-23.46

Current Fair Value

107.4% downside

Overvalued by 107.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$32.97 Billion
Enterprise Value$32.25 Billion
Dividend Yield$- (-)
Earnings per Share$14.25
Beta1.56
Outstanding Shares107,355,000

Return

Return on Equity16.86%ROE
Return on Assets12.47%
Return on Invested Capital15.65%

Valuation & Multiples

P/E Ratio19.78P/E Ratio
PEG30.23PEG
Price to Sales6.37Price to Sales
Price to Book Ratio3.46Price to Book Ratio
Enterprise Value to Revenue5.95
Enterprise Value to EBIT18.49
Enterprise Value to Net Income19
Total Debt to Enterprise0.05
Debt to Equity0.17Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 5, 2026
EPS Estimate
$3.04
Average shareholder expectation
Revenue Estimate
$1.04 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 30, 2026
EPS Estimate
$3.00
Average shareholder expectation
Revenue Estimate
$1.07 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.7902 6.27%
Total Calls19,686,146 21.89%
Total Puts15,555,362 27.63%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %88.14% 6.55%
Total Invested$18.49B 29.79%
Investors Holding1,034 103.00%

ESG Score

No data

About First Solar Inc

6,400 employees
CEO: Mark Widmar

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternati...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides expert analysis and revenue estimates for all tax legislation. Its influence on tax policy specifics, particularly capital investment credits and corporate tax structures, is paramount for First Solar's financial planning and project economics.

Finance

This powerful committee controls taxation and trade. Its decisions on corporate tax rates, investment tax credits (like the ITC crucial for solar), and tariffs on imported solar components or materials directly and significantly impact First Solar's profitability and competitive position.

Appropriations

This committee allocates discretionary federal spending. Its subcommittees determine precise funding for energy research, infrastructure projects, and government programs that could directly support or utilize solar energy solutions, profoundly impacting First Solar's market and R&D opportunities.

Energy and Natural Resources

This committee directly oversees national energy policy, public lands, and the Department of Energy. Its decisions on renewable energy mandates, leasing regulations for large-scale solar projects, and DOE funding are critical for First Solar's business and growth.

Environment and Public Works

This committee directly regulates the EPA and is involved in infrastructure development. Environmental regulations, land use policies for solar farms, and initiatives driving the 'infrastructure super-cycle' directly impact First Solar's project development and operational costs.