First Solar Inc
FSLR
Market Cap$16.95B
Close$
Earnings Call Q3 2024
October 29, 2024 - AI Summary
**Strong Contracted Backlog**: First Solar reported a total contracted backlog of 73.3 gigawatts, with year-to-date net bookings of 4 gigawatts. This indicates a resilient business pipeline and confidence in future revenues despite recent challenges. The backlog is valued at approximately $21.7 billion, suggesting significant revenue potential in the coming years.
**Financial Performance**: The company achieved earnings of $2.91 per diluted share in Q3 2024, which included a $50 million product warranty charge. Adjusting for this charge, the underlying performance remains solid. However, net sales for Q3 decreased slightly to $0.9 billion, reflecting a 12% reduction in volume sold, which could be concerning moving forward.
**Operational Challenges**: First Solar experienced multiple operational disruptions including the CrowdStrike IT incident, natural disasters affecting logistics, and unplanned downtime due to an external security alert. These issues have adversely impacted production and overall performance, highlighting potential vulnerabilities in operational execution.
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$-91.70
156% downside
Current Fair Value
156% downsideOvervalued by 156% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $16.95 Billion |
|---|---|
| Enterprise Value | $17.76 Billion |
| Dividend Yield | $0 (0%) |
| Earnings per Share | $12.07 |
| Beta | 1.46 |
| Outstanding Shares | 107,122,000 |
Return
| Return on Equity | - |
|---|---|
| Return on Assets | - |
| Return on Invested Capital | - |
Valuation & Multiples
| P/E Ratio | 13.39 |
|---|---|
| PEG | -116.97 |
| Price to Sales | 4.2 |
| Price to Book Ratio | 2.16 |
| Enterprise Value to Revenue | 4.17 |
| Enterprise Value to EBIT | 13.72 |
| Enterprise Value to Net Income | 14 |
| Total Debt to Enterprise | 0.09 |
| Debt to Equity | 0.2 |
Revenue Sources
No data
Insider Trades
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...