First Solar, Inc. (FSLR) Stock

First Solar, Inc. (FSLR) is a Technology stock trading at $211.77 (as of 2026-07-17), with a market capitalization of $22.76B and a trailing P/E of 13.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Solar, Inc. designs, manufactures, and sells cadmium telluride photovoltaic solar modules and provides solar energy solutions. The company serves developers and operators of solar systems, utilities, independent power producers, commercial and industrial companies, and other system owners across the United States, Japan, France, Canada, India, Australia, and internationally.

Understand First Solar, Inc.: how it makes money

First Solar designs, manufactures, and sells cadmium telluride photovoltaic (PV) solar modules, converting sunlight into electricity, and it generates revenue from selling these modules to developers and other system owners.

Profitability is driven by base module sales revenue, with an additional potential revenue component tied to “adjusters” (including technology roadmap adjusters), so outcomes depend on both delivered module business and how much adjuster-related revenue is realized.

Revenue by segment (latest quarter)
Net sales$1.1B

Business quality (Strong): Clear profit engine around module manufacturing, but the provided data shows multiple revenue-related “adjusters” figures without a clean, official segment sum to the stated total revenue, which limits how confidently segment mix can be read.

Valuation: At 17× earnings, FSLR trades 68% below the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • Module-led revenue model: The company’s reported operating footprint centers on module business (module segment revenue is a key disclosed metric).
  • Upside tied to adjusters: Disclosures include potential additional revenue from adjusters (upside), including technology roadmap-linked adjusters.

Bear case

  • Adjusters add uncertainty: Because the “adjusters” numbers are framed as potential and incremental, realized results may differ from the disclosed potential amounts.
  • Limited evidence of non-module revenue: System segment revenue is shown as 0.0 in the provided candidate data, suggesting reliance on the module business.
Valuation — source: SEC EDGAR (first-party)
Price$211.77
Market Cap$22.76B
P/E Ratio13.7
EV / EBITDA12.1
Price / Book2.30
Price / Sales4.20
FCF Yield7.3%
DCF Value (model)$254.68
DCF Upside vs Price20.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$5.22B
Net Margin29.3%
Revenue Growth (YoY)23.6%
EPS Growth (YoY)64.8%
FCF Growth (YoY)-59.0%
Financial Health — source: SEC EDGAR
Altman Z-Score5.45 (safe)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Stock P/E13.7
Sector P/E (Technology)34.7
Industry P/E (Electronic Equipment)40.6
vs Sector-60.6%
vs Industry-66.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($3.51B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryElectronic Equipment
CEOMark R. Widmar
Employees8,100
CountryUS
IPO Date2006-11-17

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FSLR earnings history · FSLR institutional & insider holders · FSLR KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.