FSLR

First Solar, Inc.

First Solar, Inc.FSLR

Technology · Solar

200.78USD

+0.47%

Sep 23, 2026

FSLR overview ready

Utility-Scale Solar Module Supplier with Cost-Effective Cadmium-Telluride Technology

First Solar is a direct, utility-scale photovoltaic-module supplier whose cadmium-telluride thin-film modules are deployed by developers, independent power producers, utilities, and large energy buyers building solar-generation capacity.

Strong narrative exposure

Exposed to the Electric Grid Capacity Expansion narrative through Utility-Scale Solar Generation Buildout — pure play.

Price trend is broken

Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.

The tactical setup reads distribution pressure, but the weekly structure is broken.

Attractive valuation

Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

Solid fundamentals

Free cash flow yield is strong.

Primary risk

Dependence on government subsidies and policies.

Market Sep 22Filing Jun 30Price action Sep 22Research Sep 5

Conviction Level

Price

Loading price history…

Price Action

Price trend is broken

Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.

The tactical setup reads distribution pressure, but the weekly structure is broken.

EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap: $21.6B
Avg Volume (60D): 2.3M
Revenue Growth YoY: +24.1%
Gross Margin: +44.0%
Operating Margin: +33.6%
Free Cash Flow Yield: +7.0%
Distance from 200DMA: -11.8%
Next Earnings: 2026-10-29
P/E: 12.4x
EV / EBITDA: 8.3x
EV / Sales: 3.7x

Market metrics as of Sep 22, 2026

Financial results for the period ended Jun 30, 2026

Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is cheap.

First Solar, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

Company Research

Thesis

Opportunity

Moderate opportunity

Utility, independent-power-producer, and large-corporate procurement of utility-scale solar generation capacity to meet rising electricity demand, diversify supply, and add new power capacity with relatively short construction cycles.

Key risk

Dependence on government subsidies and policies.

Narrative & Theme

Electric Grid Capacity Expansion

Part of Utility-Scale Solar Generation Buildout, with strong fit.

FSLR has direct revenue exposure to utility-scale solar project construction rather than a generic renewable-energy adjacency.

Narrative HeatHot9.1 / 10

Theme HeatNeutral6.6 / 10

This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Solar

What they do

First Solar, Inc. designs, manufactures, and sells photovoltaic solar modules using thin film semiconductor technology, primarily cadmium telluride, to convert sunlight into electricity for global markets.

How it earns

The company generates revenue through transactional sales of solar modules and related solar energy solutions to various customers.

Products & services

Thin film photovoltaic solar modules

Cadmium telluride solar modules

Customers & end markets

System developers

Independent power producers

Utilities

Commercial and industrial companies

Large corporate energy buyers

Market position

Leader in thin film photovoltaic solar technology with a differentiated product offering compared to conventional crystalline silicon modules.

Demand drivers

Medium cyclicality

Solar project development and module sales are influenced by government policies, energy prices, and capital investment cycles.

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