Fundamental analysis · SEC EDGAR · TTM through 30/06/2026
FSLR · Nasdaq · Technology
Fundamental quality
87
out of 100
First Solar, Inc. grows profitably: it increases revenue at double digits (13.3% a year) without giving up profitability (net margin 32.5%). On fundamental quality it scores 87 out of 100, profiling it as a company with solid fundamentals. Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
First Solar is the largest US solar panel manufacturer, with proprietary technology (cadmium telluride) distinct from China's and factories on American soil. It sells mostly to large solar farms, not residential rooftops.
EPS growth: 30.7% · Revenue growth: 13.3%
Net margin: 32.5% · ROE: 16.9% · ROIC: 20%
Net debt/EBITDA: -0.69x · FCF: 27.9%
Source: SEC EDGAR · TTM through 30/06/2026
The score combines growth, profitability and financial strength, and here its pillars hold up evenly.
Percentile against the other 101 Technology companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 2,711 | 398 | -380 | -948 |
| 2021 | 2,923 | 469 | -303 | -1,211 |
| 2022 | 2,619 | -44 | -30 | -1,297 |
| 2023 | 3,319 | 831 | -785 | -1,387 |
| 2024 | 4,206 | 1,292 | -308 | -1,012 |
| 2025 | 5,219 | 1,528 | 1,187 | -2,305 |
Between 2020 and 2025, revenue went from $2,711M to $5,219M (+93%) and net income went from $398M to $1,528M (+284%). Meanwhile, its margins have widened (from 15% to 29%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the half-year ended June 30, 2026, versus the half-year ended June 30, 2025 (SEC filings):
Compared with the previous close (March 31, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
This company doesn't pay a dividend: it reinvests all its earnings back into the business.
Open your account in minutes with regulated brokers and buy U.S. and European stocks from small amounts. No paperwork.
The serious investor's standard
Open free account →Anyone who wants low commissions and access to almost any market in the world.
Popular in the U.S.
Open free account →Anyone investing in the U.S. who wants a powerful, commission-free stock app.
Investing carries risk of loss.
Is First Solar, Inc. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is First Solar, Inc. a good company to invest in?
In terms of business quality, First Solar, Inc. scores 87 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is First Solar, Inc. a profitable company?
Very. First Solar, Inc. shows a net margin of 32.5% and an ROE of 16.9%, typical of a highly profitable business.
Does First Solar, Inc. have a lot of debt?
No. First Solar, Inc. has a net cash position: more cash than debt.
Is First Solar, Inc. growing?
Its revenue has grown 13.3% annualized in recent years and its earnings per share 30.7%.
Does First Solar, Inc. generate cash?
Yes. It converts about 27.9% of its revenue into free cash flow.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
More Technology companies
Adobe (ADBE) · Cisco (CSCO) · Accenture (ACN) · ServiceNow (NOW) · IBM (IBM) · Intel (INTC) · see more →
The best Technology stocks by our model →
Compare First Solar, Inc. with 500+ companies in the screener →
Who's behind the methodology and model · how the score is computed
Data: see First Solar, Inc.'s filings on EDGAR
Spotted a figure that looks wrong? Report it and we'll review it.