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First Solar Inc (FSLR)



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Upturn Advisory Summary
08/28/2025: FSLR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $220.16
1 Year Target Price $220.16
19 | Strong Buy |
11 | Buy |
6 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -2.32% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 21.13B USD | Price to earnings Ratio 16.84 | 1Y Target Price 220.16 |
Price to earnings Ratio 16.84 | 1Y Target Price 220.16 | ||
Volume (30-day avg) 37 | Beta 1.48 | 52 Weeks Range 116.56 - 262.72 | Updated Date 08/29/2025 |
52 Weeks Range 116.56 - 262.72 | Updated Date 08/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 11.7 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 28.95% | Operating Margin (TTM) 32.96% |
Management Effectiveness
Return on Assets (TTM) 7.13% | Return on Equity (TTM) 15.92% |
Valuation
Trailing PE 16.84 | Forward PE 12.58 | Enterprise Value 20422200300 | Price to Sales(TTM) 4.86 |
Enterprise Value 20422200300 | Price to Sales(TTM) 4.86 | ||
Enterprise Value to Revenue 4.7 | Enterprise Value to EBITDA 10.93 | Shares Outstanding 107248000 | Shares Floating 101327581 |
Shares Outstanding 107248000 | Shares Floating 101327581 | ||
Percent Insiders 5.53 | Percent Institutions 106.33 |
Upturn AI SWOT
First Solar Inc

Company Overview
History and Background
First Solar, Inc. was founded in 1999. It is a leading American manufacturer of solar panels, and a provider of utility-scale PV power plants and supporting services.
Core Business Areas
- Manufacturing: First Solar manufactures thin-film solar panels using cadmium telluride (CdTe) technology. These panels are known for their efficiency and cost-effectiveness in certain environmental conditions.
- Project Development: First Solar develops, constructs, and operates utility-scale solar power plants. They provide end-to-end solutions, from initial site selection to ongoing maintenance and operation.
- Energy Solutions: Beyond panels and project development, First Solar also provides comprehensive energy solutions, including project financing, energy storage, and grid integration services.
Leadership and Structure
Mark Widmar is the current CEO. The company operates with a functional organizational structure, with departments focusing on manufacturing, project development, sales, finance, and technology.
Top Products and Market Share
Key Offerings
- CdTe Thin-Film Solar Panels: First Solar's primary product is its CdTe thin-film solar panels. Market share fluctuates but they hold a significant share in the thin-film market. Competitors include LONGi, Trina Solar and Jinko Solar. Revenue varies depending on panel sales volume and project completions.
- Utility-Scale Solar Projects: First Solar develops and sells utility-scale solar power projects. Revenue comes from project sales and long-term power purchase agreements (PPAs). Competitors include other solar project developers and independent power producers.
Market Dynamics
Industry Overview
The solar industry is experiencing rapid growth, driven by increasing demand for renewable energy, government incentives, and decreasing costs. It is also highly competitive, with many players vying for market share.
Positioning
First Solar is a leading player in the solar industry, particularly known for its CdTe technology and utility-scale project development capabilities. They maintain a competitive advantage through technological innovation and cost optimization.
Total Addressable Market (TAM)
The global solar energy market is projected to reach hundreds of billions USD in the coming years. First Solar is positioned to capture a substantial portion of this TAM with its established presence and technology.
Upturn SWOT Analysis
Strengths
- CdTe thin-film technology leadership
- Vertically integrated business model
- Strong balance sheet
- Established relationships with utilities
- Focus on sustainability
Weaknesses
- Technology concentration (CdTe only)
- Higher capital expenditures compared to some competitors
- Geographic concentration in certain markets
- Sensitivity to cadmium and telluride prices
Opportunities
- Growing global demand for solar energy
- Government incentives and subsidies for renewable energy
- Expansion into new markets and applications
- Technological advancements in CdTe technology
- Energy Storage solutions alongside solar PV farms
Threats
- Intense competition from other solar panel manufacturers
- Fluctuations in raw material prices (cadmium and telluride)
- Changes in government regulations and policies
- Trade barriers and tariffs
- Technological disruption from alternative solar technologies
Competitors and Market Share
Key Competitors
- SEDG
- ENPH
- RUN
- NOVA
Competitive Landscape
First Solar's advantages include its CdTe technology, vertically integrated model, and strong balance sheet. Disadvantages include its technology concentration and higher capital expenditures.
Major Acquisitions
TetraSun
- Year: 2013
- Acquisition Price (USD millions): 80
- Strategic Rationale: Acquisition of TetraSun to advance high-efficiency silicon solar cell technology.
Growth Trajectory and Initiatives
Historical Growth: First Solar's growth has been driven by increasing demand for solar energy and expansion into new markets.
Future Projections: Future growth projections are based on analyst estimates and company guidance.
Recent Initiatives: Recent initiatives include expanding manufacturing capacity, investing in R&D, and developing new energy solutions.
Summary
First Solar is a leading solar panel manufacturer with innovative CdTe technology and strong financial health. The company is positioned to benefit from the growing demand for solar energy. However, it faces competition and must navigate changing market dynamics and technological advancements. Focus on cost competitiveness is key to maintain market share.
Peer Comparison
Sources and Disclaimers
Data Sources:
- First Solar Investor Relations
- SEC Filings
- Industry Reports
- Analyst Reports
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market conditions and company performance can change rapidly. Consult with a financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Solar Inc
Exchange NASDAQ | Headquaters Tempe, AZ, United States | ||
IPO Launch date 2006-11-17 | CEO & Director Mr. Mark R. Widmar | ||
Sector Technology | Industry Solar | Full time employees 8100 | Website https://www.firstsolar.com |
Full time employees 8100 | Website https://www.firstsolar.com |
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules. It also designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. The company's residual business operations include project development activities, operations and maintenance services, and the sale of PV solar power systems to third-party customers. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

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