First Solar, Inc. (FSLR) AI Stock Analysis

First Solar, Inc. is a global provider of photovoltaic solar energy solutions across markets including the United States, Japan, France, Canada, India, and Australia. Established in 1999 and headquartered in Tempe, Arizona, the company specializes in designing, manufacturing, and distributing cadmium telluride solar modules that convert sunlight into electricity. Its technology serves system developers, utilities, independent power producers, and commercial and industrial entities. Formerly known as First Solar Holdings, Inc., the company rebranded as First Solar, Inc. in 2006, focusing on product innovation, quality, and expanding clean energy solutions worldwide.

First Solar expanded revenue from $2.92B in FY2021 to $5.22B in FY2025, achieving a 5-year revenue CAGR of 14.0%. Net income rebounded from a net loss of $44.2M in FY2022 to $830.8M in FY2023, $1.29B in FY2024, and $1.53B in FY2025, lifting EPS to $14.21. For the trailing twelve months, revenue reached $5.38B with an operating margin of 42.6% and net margin of 32.5%. In the latest quarter ended June 30, 2026, quarterly revenue fell 3.7% year-over-year, while quarterly earnings grew 23.3%.

As of June 30, 2026, First Solar held $1.73B in cash and short-term investments against $194.0M in total debt, resulting in net cash of $1.53B. The company maintains strong liquidity with a current ratio of 2.52 and a conservative debt-to-equity ratio of 0.02 on $10.32B of shareholders' equity. Operating cash flow rose to $2.06B in FY2025, funding $869.9M in capital expenditures and generating $1.19B in free cash flow, alongside $15.5M in share buybacks.

First Solar trades at a trailing P/E of 10.6x and a forward P/E of 8.3x, well below the median of its S&P 500 Technology peers at 31.5x and 20.9x. Its enterprise value of $19.10B represents an EV/EBITDA multiple of 7.8x, compared to 19.9x for the median of its S&P 500 Technology peers. Over the past year, the stock fell 27.4%, underperforming the 16.8% return of the S&P 500, while its 5-year gain of 64.2% compares to 83.0% for the index.

Wall Street sentiment reflects 17 Strong Buy, 10 Buy, 8 Hold, and 1 Sell ratings. The mean price target is $273.80, implying a 58.6% premium over the last close of $172.64 on October 16, 2026. For the current fiscal year ending December 31, 2026, consensus expectations project revenue of $5.04B and EPS of $17.47. First Solar has beaten EPS estimates in 2 of the last 4 quarters, with its next earnings report scheduled for October 29, 2026.

This page is an AI-written research summary of First Solar, Inc. (FSLR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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