First Solar, Inc.
FSLRUSFirst Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company's primary activity involves the engineering, manufacturing, and sale of cadmium telluride solar modules, which are designed to convert solar radiation directly into electricity. Its clientele is broad, serving system developers and operators, utility companies, independent power producers, commercial and industrial businesses, and various other system owners. Founded in 1999, the firm is based in Tempe, Arizona, and underwent a name change in 2006 from its former designation, First Solar Holdings, Inc.
Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.
- Sector
- Industrial, Aerospace & Defense
- Sub-sector
- Electrical Equipment & Power Systems
- Listing
- FSLR
- Country
- US
EV / LTM Revenue
Annual financials & analyst forecasts
| $M | CY2021 | CY2022 | CY2023 | CY2024 | CY2025 | CY2026E | CY2027E |
|---|---|---|---|---|---|---|---|
| Revenue YoY | — | -10% | 27% | 27% | 24% | -3% | 17% |
| Revenue | $2.92B | $2.62B | $3.32B | $4.21B | $5.22B | $5.05B | $5.91B |
| Gross Profit | $730M | $70M | $1.30B | $1.86B | $2.12B | — | — |
| Gross Profit Margin | 25.0% | 2.7% | 39.2% | 44.2% | 40.6% | — | — |
| EBITDA | $845M | $291M | $1.21B | $1.87B | $2.15B | $1.64B | $1.92B |
| EBITDA Margin | 28.9% | 11.1% | 36.5% | 44.4% | 41.3% | 32.4% | 32.4% |
| EBIT | $587M | ($27M) | $857M | $1.39B | $1.60B | $1.15B | $1.34B |
| Net Income | $469M | ($44M) | $831M | $1.29B | $1.53B | $1.91B | $2.49B |
| Free Cash Flow | ($303M) | ($30M) | ($785M) | ($308M) | $1.19B | — | — |
| FCF Margin | -10.4% | -1.2% | -23.6% | -7.3% | 22.7% | — | — |
| Short-Term Debt | $4M | $0M | $96M | $236M | $216M | — | — |
| Long-Term Debt | $236M | $184M | $464M | $373M | $283M | — | — |
| Cash & Cash Equivalents | $1.45B | $1.48B | $1.95B | $1.62B | $2.80B | — | — |
| Net Debt | ($1.21B) | ($1.30B) | ($1.39B) | ($1.01B) | ($2.30B) | — | — |
| Net Debt / EBITDA | -1.4x | -4.5x | -1.1x | -0.5x | -1.1x | — | — |
| Rule of 40 | — | -11.6% | 3.1% | 19.4% | 46.8% | — | — |