FIRST SOLAR, INC. |
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 282.3 USD | +2.00% |
|
+33.22% | +64.02% |
| 12:19pm | Evercore ISI Adjusts First Solar's Price Target to $281 From $232, Keeps Outperform Rating | MT |
| May. 24 | First Solar Insider Sold Shares Worth $1,001,400, According to a Recent SEC Filing | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,899 | 10,483 | 9,267 | 15,968 | 18,407 | 29,623 | - | - |
| Enterprise Value (EV) 1 | 4,206 | 9,015 | 7,681 | 13,575 | 16,865 | 28,738 | 27,500 | 25,424 |
| P/E ratio | -51.3 x | 26.5 x | 19.9 x | -365 x | 22.3 x | 20.4 x | 13.1 x | 9.29 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 1.93 x | 3.87 x | 3.17 x | 6.1 x | 5.55 x | 6.56 x | 5.26 x | 4.43 x |
| EV / Revenue | 1.37 x | 3.33 x | 2.63 x | 5.18 x | 5.08 x | 6.36 x | 4.89 x | 3.8 x |
| EV / EBITDA | 10.3 x | 16.2 x | 11 x | 56 x | 14 x | 14.6 x | 9.02 x | 6.19 x |
| EV / FCF | -8.51 x | -23.8 x | -25.4 x | -449 x | -21.5 x | -62.5 x | 23 x | 12.2 x |
| FCF Yield | -11.8% | -4.21% | -3.94% | -0.22% | -4.65% | -1.6% | 4.35% | 8.18% |
| Price to Book | 1.16 x | 1.89 x | 1.56 x | 2.74 x | 2.75 x | 3.64 x | 2.85 x | 2.17 x |
| Nbr of stocks (in thousands) | 105,407 | 105,976 | 106,327 | 106,606 | 106,844 | 107,041 | - | - |
| Reference price 2 | 55.96 | 98.92 | 87.16 | 149.8 | 172.3 | 276.7 | 276.7 | 276.7 |
| Announcement Date | 2/20/20 | 2/25/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,063 | 2,711 | 2,923 | 2,619 | 3,319 | 4,516 | 5,628 | 6,689 |
| EBITDA 1 | 406.7 | 556.4 | 699.4 | 242.5 | 1,201 | 1,973 | 3,049 | 4,110 |
| EBIT 1 | 201.2 | 323.5 | 439.5 | -27.24 | 892.9 | 1,573 | 2,535 | 3,587 |
| Operating Margin | 6.57% | 11.93% | 15.03% | -1.04% | 26.9% | 34.83% | 45.04% | 53.63% |
| Earnings before Tax (EBT) 1 | -120.1 | 293.2 | 572.2 | 8.598 | 891.3 | 1,618 | 2,587 | 3,643 |
| Net income 1 | -114.9 | 398.4 | 468.7 | -44.17 | 830.8 | 1,463 | 2,291 | 3,244 |
| Net margin | -3.75% | 14.69% | 16.03% | -1.69% | 25.03% | 32.39% | 40.7% | 48.49% |
| EPS 2 | -1.090 | 3.730 | 4.380 | -0.4100 | 7.740 | 13.58 | 21.15 | 29.77 |
| Free Cash Flow 1 | -494.5 | -379.5 | -302.7 | -30.24 | -784.5 | -459.9 | 1,197 | 2,080 |
| FCF margin | -16.14% | -14% | -10.36% | -1.15% | -23.64% | -10.18% | 21.26% | 31.1% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | 39.25% | 50.62% |
| FCF Conversion (Net income) | - | - | - | - | - | - | 52.24% | 64.14% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 2/20/20 | 2/25/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 907.3 | 367 | 621 | 628.9 | 1,002 | 548.3 | 810.7 | 801.1 | 1,159 | 794.1 | 982.7 | 1,261 | 1,497 | 1,138 | 1,281 |
| EBITDA 1 | 238.5 | 7.403 | 211.4 | -0.93 | 24.64 | 86.86 | 240.2 | 350.7 | 487.5 | 333.7 | 408 | 571.3 | 668 | 619.9 | 731.2 |
| EBIT 1 | 173.2 | -57.8 | 144.8 | -68.35 | -45.91 | 18 | 168.5 | 273 | 397.8 | 243.1 | 314.7 | 454.6 | 554.8 | 478.6 | 554.8 |
| Operating Margin | 19.08% | -15.75% | 23.32% | -10.87% | -4.58% | 3.28% | 20.79% | 34.07% | 34.33% | 30.62% | 32.02% | 36.04% | 37.05% | 42.08% | 43.3% |
| Earnings before Tax (EBT) 1 | 167.2 | -62.75 | 139.6 | -61.68 | -6.572 | 35.67 | 188.5 | 290.5 | 376.7 | 255.5 | 332.4 | 458.1 | 564.8 | 503.2 | 571.6 |
| Net income 1 | 131.4 | -43.26 | 55.8 | -49.17 | -7.548 | 42.56 | 170.6 | 268.4 | 349.2 | 236.6 | 301.9 | 419 | 505.6 | 438.8 | 499 |
| Net margin | 14.48% | -11.78% | 8.99% | -7.82% | -0.75% | 7.76% | 21.04% | 33.5% | 30.14% | 29.8% | 30.73% | 33.22% | 33.77% | 38.57% | 38.95% |
| EPS 2 | 1.230 | -0.4100 | 0.5200 | -0.4600 | -0.0700 | 0.4000 | 1.590 | 2.500 | 3.250 | 2.200 | 2.782 | 3.893 | 4.702 | 4.078 | 4.824 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/1/22 | 4/28/22 | 7/28/22 | 10/27/22 | 2/28/23 | 4/27/23 | 7/27/23 | 10/31/23 | 2/27/24 | 5/1/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,693 | 1,468 | 1,586 | 2,394 | 1,542 | 885 | 2,122 | 4,199 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -495 | -380 | -303 | -30.2 | -785 | -460 | 1,197 | 2,080 |
| ROE (net income / shareholders' equity) | 3.05% | 7.5% | 6.06% | -0.75% | 13.3% | 19% | 23.4% | 24.7% |
| ROA (Net income/ Total Assets) | 2.15% | 5.45% | 4.79% | -0.56% | 8.93% | 13% | 17% | 18.8% |
| Assets 1 | -5,351 | 7,312 | 9,778 | 7,832 | 9,308 | 11,256 | 13,499 | 17,234 |
| Book Value Per Share 2 | 48.30 | 52.40 | 56.00 | 54.70 | 62.60 | 76.10 | 97.00 | 128.0 |
| Cash Flow per Share 2 | 1.650 | 0.3500 | 2.220 | 8.200 | 5.610 | 15.10 | 24.10 | 37.00 |
| Capex 1 | 669 | 417 | 540 | 904 | 1,387 | 1,837 | 1,188 | 1,006 |
| Capex / Sales | 21.83% | 15.37% | 18.48% | 34.5% | 41.79% | 40.69% | 21.12% | 15.05% |
| Announcement Date | 2/20/20 | 2/25/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
33
Last Close Price
276.7
USD
Average target price
240.4
USD
Spread / Average Target
-13.13%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +60.63% | 29.62B | |
| -19.08% | 19.38B | |
| -5.27% | 17.03B | |
| -10.87% | 13.86B | |
| -11.40% | 10.84B | |
| +21.17% | 7.75B | |
| -15.02% | 7.41B | |
| +18.51% | 7.2B | |
| -28.57% | 6.72B | |
| -29.80% | 6.12B |
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