First Solar, Inc. (FSLR)

FairStock Score: 70/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach First Solar as a manufacturer, not a story. It designs and sells thin-film cadmium telluride solar modules, and the figures show a business that has become consistently profitable. In fiscal 2025, the year ended 2025-12-31, revenue was $5.2B, net income $1.5B, and diluted EPS $14.21. In fiscal 2024, the year ended 2024-12-31, revenue was $4.2B, net income $1.3B, and diluted EPS $12.02. Fiscal 2023, ended 2023-12-31, had revenue of $3.3B, net income of $830.8M, and diluted EPS of $7.74. That progress is real, though the latest quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue steady at $1.1B while net income rose to $422.6M and diluted EPS to $3.92. Financial health looks solid: FairStock calculates debt/equity at 0.02, Altman Z-score 5.19, and FCF yield 7.5%. The moat is not obvious; ROCE of 8.62% is only moderate, and Piotroski is 5/9. At the 2026-10-13 close of $186.60, FairStock's P/E is 11.50, P/B 1.94, PEG 0.49, EV/EBITDA 7.61, and Graham Number $187.26, leaving a margin of safety of just 0.35%. FairStock labels it a TURNAROUND because it returned to profit after a loss within the last three years. I see a reasonably priced, improving manufacturer, but not one with a wide margin of safety. The price already reflects much of the recovery.

In plain English: First Solar makes solar panels and sells solar-energy products. The business looks profitable and financially strong, with low debt and rising yearly profits. At the recent close of $186.60, the price looks roughly fair against its earnings, cash flow, and accounting value rather than clearly cheap or expensive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer