Buy Or Sell Opportunity • May 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to Mex$4,047. The fair value is estimated to be Mex$3,363, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Ankündigung • May 02
First Solar, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2026 First Solar, Inc. reaffirmed earnings guidance for the fiscal year 2026. For the year, the company expects Volume to be Sold 17.0GW to 18.2GW and net sales to be $4.9 billion to $5.2 billion. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: US$3.23 (vs US$1.96 in 1Q 2025) First quarter 2026 results: EPS: US$3.23 (up from US$1.96 in 1Q 2025). Revenue: US$1.04b (up 24% from 1Q 2025). Net income: US$346.6m (up 65% from 1Q 2025). Profit margin: 33% (up from 25% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Ankündigung • Apr 16
First Solar, Inc. to Report Q1, 2026 Results on Apr 30, 2026 First Solar, Inc. announced that they will report Q1, 2026 results After-Market on Apr 30, 2026 Ankündigung • Apr 04
First Solar, Inc., Annual General Meeting, May 13, 2026 First Solar, Inc., Annual General Meeting, May 13, 2026. Location: meetnow.global/mwlflnw, United States Recent Insider Transactions • Mar 06
CEO & Director recently sold Mex$27m worth of stock On the 3rd of March, Mark Widmar sold around 8k shares on-market at roughly Mex$3,463 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Mex$3,425, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 29x in the Semiconductor industry globally. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$3,736 per share. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: US$14.25 (vs US$12.07 in FY 2024) Full year 2025 results: EPS: US$14.25 (up from US$12.07 in FY 2024). Revenue: US$5.22b (up 24% from FY 2024). Net income: US$1.53b (up 18% from FY 2024). Profit margin: 29% (down from 31% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 25
First Solar, Inc. Provides Earnings Guidance for the Fiscal Year 2026 First Solar, Inc. provided earnings guidance for the fiscal year 2026. For the year, the company expects Volume to be Sold 17.0GW to 18.2GW and net sales to be $4.9 billion to $5.2 billion. Ankündigung • Jan 29
First Solar, Inc. to Report Q4, 2025 Results on Feb 24, 2026 First Solar, Inc. announced that they will report Q4, 2025 results After-Market on Feb 24, 2026 Recent Insider Transactions • Nov 11
Independent Director recently sold Mex$34m worth of stock On the 7th of November, Paul Stebbins sold around 7k shares on-market at roughly Mex$4,854 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought Mex$2.5b more than they sold in the last 12 months. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Mex$5,140, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 27x in the Semiconductor industry globally. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$7,305 per share. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: US$4.25 (vs US$2.92 in 3Q 2024) Third quarter 2025 results: EPS: US$4.25 (up from US$2.92 in 3Q 2024). Revenue: US$1.59b (up 80% from 3Q 2024). Net income: US$455.9m (up 46% from 3Q 2024). Profit margin: 29% (down from 35% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 31
First Solar, Inc. Updates Earnings Guidance for the Year 2025 First Solar, Inc. updated earnings guidance for the year 2025. For the year, the company now expects Net Sales to be $4.95 Billion to $5.20 Billion against previous guidance of $4.9 Billion to $5.7 Billion. Operating Income to be $1.56 Billion to $1.68 Billion against previous guidance of $1.53 Billion to $1.87 Billion. Earnings per Diluted Share to be $14.00 to $15.00 against previous guidance of $13.50 to $16.50. Ankündigung • Oct 09
First Solar, Inc. to Report Q3, 2025 Results on Oct 30, 2025 First Solar, Inc. announced that they will report Q3, 2025 results After-Market on Oct 30, 2025 Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Mex$4,145, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 24x in the Semiconductor industry globally. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$4,422 per share. Buy Or Sell Opportunity • Aug 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to Mex$3,400. The fair value is estimated to be Mex$4,346, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 75%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: US$3.19 (vs US$3.26 in 2Q 2024) Second quarter 2025 results: EPS: US$3.19 (down from US$3.26 in 2Q 2024). Revenue: US$1.10b (up 8.6% from 2Q 2024). Net income: US$341.9m (down 2.1% from 2Q 2024). Profit margin: 31% (down from 35% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Ankündigung • Aug 01
First Solar, Inc. Updates Earnings Guidance for the Year 2025 First Solar, Inc. updated earnings guidance for the year 2025. For the year, the company now expects Net Sales to be $4.9 Billion to $5.7 Billion against previous guidance of $4.5 Billion to $5.5 Billion. Operating Income to be $1.53 Billion to $1.87 Billion against previous guidance of $1.45 Billion to $2.00 Billion. Earnings per Diluted Share to be $13.50 to $16.50 against previous guidance of $12.50 to $17.50. Ankündigung • Jul 15
First Solar, Inc. to Report Q2, 2025 Results on Jul 31, 2025 First Solar, Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Mex$3,452, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 30x in the Semiconductor industry globally. Total returns to shareholders of 134% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Mex$2,747, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Semiconductor industry globally. Total returns to shareholders of 99% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$3,652 per share. Buy Or Sell Opportunity • Jun 18
Now 25% undervalued Over the last 90 days, the stock has risen 7.0% to Mex$2,739. The fair value is estimated to be Mex$3,637, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 80%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Buy Or Sell Opportunity • Jun 02
Now 23% undervalued Over the last 90 days, the stock has risen 5.0% to Mex$2,871. The fair value is estimated to be Mex$3,708, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 80%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director Murthy Renduchintala was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to Mex$3,742, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Semiconductor industry globally. Total returns to shareholders of 195% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$3,802 per share. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: US$1.96 (vs US$2.21 in 1Q 2024) First quarter 2025 results: EPS: US$1.96 (down from US$2.21 in 1Q 2024). Revenue: US$844.6m (up 6.4% from 1Q 2024). Net income: US$209.5m (down 11% from 1Q 2024). Profit margin: 25% (down from 30% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Ankündigung • Apr 30
First Solar, Inc. Updates Earnings Guidance for the Year 2025 First Solar, Inc. updated earnings guidance for the year 2025. For the year, the company now expects net sales to be in the range of $4.5 Billion to $5.5 Billion as compared to $5.3 Billion to $5.8 Billion previously, operating income to be in the range of $1.45 Billion to $2.00 Billion as compared to $1.95 Billion to $2.30 Billion previously, earnings per diluted share to be in the range of $12.50 to $17.50 as compared to $17.00 to $20.00 previously. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Mex$2,764, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Semiconductor industry globally. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$4,906 per share. New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.9% average weekly change). High level of non-cash earnings (27% accrual ratio). Minor Risk Significant insider selling over the past 3 months (Mex$4.4b sold). Ankündigung • Apr 07
First Solar, Inc., Annual General Meeting, May 14, 2025 First Solar, Inc., Annual General Meeting, May 14, 2025. Location: meetnow.global/mlqrypn, United States Ankündigung • Apr 01
First Solar, Inc. to Report Q1, 2025 Results on Apr 29, 2025 First Solar, Inc. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025 Ankündigung • Mar 16
Molly E. Joseph Notifies First Solar, Inc. of His Decision to Not Stand for Re-Election as A Member of the Board of Directors On March 12, 2025, Molly E. Joseph notified First Solar, Inc. that she will not stand for re-election as a member of the Company’s Board of Directors at the Company’s 2025 Annual Meeting of Stockholders. Ms. Joseph intends to continue to serve as a member of the Board and on each of the Committees on which she currently serves until the date of the 2025 Annual Meeting. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Mex$2,643, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 21x in the Semiconductor industry globally. Total returns to shareholders of 65% over the past three years. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: US$12.07 (vs US$7.78 in FY 2023) Full year 2024 results: EPS: US$12.07 (up from US$7.78 in FY 2023). Revenue: US$4.21b (up 27% from FY 2023). Net income: US$1.29b (up 56% from FY 2023). Profit margin: 31% (up from 25% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 26
First Solar, Inc. Provides Earnings Guidance for the Year 2025 First Solar, Inc. provided earnings guidance for the year 2025. For the period, the company expected Net Sales to be in the range of $5.3 Billion to $5.8 Billion. Operating Income is expected to be in the range of $1.95 Billion to $2.30 Billion. The company expected Earnings per Diluted Share to be in the range of $17.00 to $20.00. Ankündigung • Jan 28
First Solar, Inc. to Report Q4, 2024 Results on Feb 25, 2025 First Solar, Inc. announced that they will report Q4, 2024 results After-Market on Feb 25, 2025 Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Mex$3,366, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 20x in the Semiconductor industry globally. Total returns to shareholders of 108% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$5,614 per share. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: US$2.92 (vs US$2.51 in 3Q 2023) Third quarter 2024 results: EPS: US$2.92 (up from US$2.51 in 3Q 2023). Revenue: US$887.7m (up 11% from 3Q 2023). Net income: US$313.0m (up 17% from 3Q 2023). Profit margin: 35% (up from 34% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 01
First Solar, Inc. to Report Q3, 2024 Results on Oct 29, 2024 First Solar, Inc. announced that they will report Q3, 2024 results After-Market on Oct 29, 2024 Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$3.26 (vs US$1.60 in 2Q 2023) Second quarter 2024 results: EPS: US$3.26 (up from US$1.60 in 2Q 2023). Revenue: US$1.01b (up 25% from 2Q 2023). Net income: US$349.4m (up 105% from 2Q 2023). Profit margin: 35% (up from 21% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Ankündigung • Jul 04
First Solar, Inc. to Report Q2, 2024 Results on Jul 30, 2024 First Solar, Inc. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Mex$5,630, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 22x in the Semiconductor industry globally. Total returns to shareholders of 261% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$5,225 per share. Ankündigung • Jun 05
First Solar, Inc. Becomes the Solar Industry's First EPEAT Climate+ Champion, Setting Global Standard for Ultra-Low Carbon Solar First Solar, Inc. announced that its Series 6 Plus and Series 7 TR1 products are the world's first photovoltaic (PV) solar modules to achieve the EPEAT Climate+ designation, establishing a new benchmark for the solar technology and manufacturing industry. EPEAT is a globally recognized ecolabel that includes independent validation and allows for the easy identification of environmentally preferable products from socially responsible companies. EPEAT addresses the whole product life cycle, including managing substances in the product, manufacturing energy and water use, product packaging, end-of-life recycling, corporate responsibility, and human rights. EPEAT Climate+ makes EPEAT the only global ecolabel to address greenhouse gas (GHG) emissions during the different stages of solar module production, and products receiving the designation must meet the ultra-low carbon threshold of 400 kg CO2e/kWp. EPEAT Climate+ helps purchasers quickly identify technology products designed and manufactured with climate change mitigation in mind, allowing them to reduce scope 3 emissions of solar installations. First Solar's responsibly produced, advanced thin film PV modules already set industry benchmarks for quality, durability, reliability, design, and environmental performance and its Series 7 modules have the lowest carbon and water footprint of any commercially available PV module today. First Solar's Series 6 Plus and Series 7TR1 became the first solar modules to be included in a list of nearly 1,500 products produced by leading electronics brands known as EPEAT Climate+ Champions. The company intends to validate the environmental footprint of its Series 7 FT1 module, which is manufactured in India, with the goal of achieving an EPEAT Climate+ designation. Recent Insider Transactions • May 24
Insider recently sold Mex$30m worth of stock On the 22nd of May, Richard Chapman sold around 7k shares on-market at roughly Mex$4,137 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought Mex$932m more than they sold in the last 12 months. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to Mex$4,164, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 24x in the Semiconductor industry globally. Total returns to shareholders of 171% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$4,548 per share. Recent Insider Transactions • May 15
Insider recently sold Mex$23m worth of stock On the 9th of May, Richard Chapman sold around 7k shares on-market at roughly Mex$3,219 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought Mex$915m more than they sold in the last 12 months. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$2.21 (vs US$0.40 in 1Q 2023) First quarter 2024 results: EPS: US$2.21 (up from US$0.40 in 1Q 2023). Revenue: US$794.1m (up 45% from 1Q 2023). Net income: US$236.6m (up 456% from 1Q 2023). Profit margin: 30% (up from 7.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 02
First Solar, Inc. Reaffirms Earnings Guidance for the Year 2024 First Solar, Inc. reaffirmed earnings guidance for the year 2024. For the year, the company expects net sales of $4.4 billion to $4.6 billion, operating oncome of $1.5 billion to $1.6 billion and earnings per diluted share of $13.00 to $14.00, unchanged from the prior guidance. New Risk • Apr 19
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: Mex$17m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (38% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Significant insider selling over the past 3 months (Mex$17m sold). Ankündigung • Apr 05
First Solar, Inc. to Report Q1, 2024 Results on May 01, 2024 First Solar, Inc. announced that they will report Q1, 2024 results on May 01, 2024 Ankündigung • Mar 19
First Solar, Inc., Annual General Meeting, May 08, 2024 First Solar, Inc., Annual General Meeting, May 08, 2024, at 12:00 US Eastern Standard Time. Agenda: To elect ten members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of PricewaterhouseCoopers LLP as First Solar, Inc.'s independent registered public accounting firm for the year ending December 31, 2024; to approve an advisory resolution on the compensation of our named executive officers; and to discuss other matters. Recent Insider Transactions • Mar 06
Independent Director recently sold Mex$13m worth of stock On the 1st of March, Paul Stebbins sold around 5k shares on-market at roughly Mex$2,681 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$241m. Despite this recent sale, insiders have collectively bought Mex$902m more than they sold in the last 12 months. Ankündigung • Feb 29
First Solar, Inc. Provides Earnings Guidance for the Year 2024 First Solar, Inc. provided earnings guidance for the year 2024. For the year, the company expects net sales to be between $4.4 billion to $4.6 billion. Operating income to be between $1.5 billion to $1.6 billion. Earnings per diluted share to be between $13.00 to $14.00. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: US$7.78 (vs US$0.41 loss in FY 2022) Full year 2023 results: EPS: US$7.78 (up from US$0.41 loss in FY 2022). Revenue: US$3.32b (up 27% from FY 2022). Net income: US$830.8m (up US$874.9m from FY 2022). Profit margin: 25% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Ankündigung • Feb 17
First Solar, Inc. Announces Board Resignations First Solar, Inc. announced on February 13, 2024, Richard D. Chapman, George A. (Chip) Hambro, and Craig Kennedy each notified the Company that they will retire as a member of the company’s board of directors (the board) and not stand for re-election at the company’s 2024 Annual Meeting of Stockholders (the 2024 Annual Meeting). Ankündigung • Jan 31
First Solar, Inc. to Report Q4, 2023 Results on Feb 27, 2024 First Solar, Inc. announced that they will report Q4, 2023 results After-Market on Feb 27, 2024 Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Mex$2,943, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 24x in the Semiconductor industry globally. Total returns to shareholders of 41% over the past three years. New Risk • Nov 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.0% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Significant insider selling over the past 3 months (Mex$4.9m sold). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$2.51 (vs US$0.46 loss in 3Q 2022) Third quarter 2023 results: EPS: US$2.51 (up from US$0.46 loss in 3Q 2022). Revenue: US$801.1m (up 27% from 3Q 2022). Net income: US$268.4m (up US$317.6m from 3Q 2022). Profit margin: 34% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Ankündigung • Nov 01
First Solar, Inc. Updates Earnings Guidance for the Full Year 2023 First Solar, Inc. updated earnings guidance for the full year 2023. For the year, the company maintain revenue guidance, net sales of $3.4 Billion to $3.6 Billion; Operating Income to be $770 million to $870 million as compared to prior guidance of $745 million to $870 million; Earnings per Diluted Share to be $7.20 to $8.00 as compared to prior guidance of $7.00 to $8.00. Ankündigung • Oct 18
First Solar, Inc. to Report Q3, 2023 Results on Oct 31, 2023 First Solar, Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Oct 31, 2023 Ankündigung • Jul 29
First Solar, Inc. Maintains Earnings Guidance for the Full Year 2023 First Solar, Inc. maintained earnings guidance for the full year 2023. For the period, the company maintaining its revenue and EPS guidance, including forecasted full year earnings per diluted share of $7 to $8. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$1.60 (vs US$0.52 in 2Q 2022) Second quarter 2023 results: EPS: US$1.60 (up from US$0.52 in 2Q 2022). Revenue: US$810.7m (up 31% from 2Q 2022). Net income: US$170.6m (up 206% from 2Q 2022). Profit margin: 21% (up from 9.0% in 2Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Ankündigung • Jul 14
First Solar, Inc. to Report Q2, 2023 Results on Jul 27, 2023 First Solar, Inc. announced that they will report Q2, 2023 results After-Market on Jul 27, 2023 Buying Opportunity • Jun 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be Mex$4,074, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has declined by 22%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings is also forecast to grow by 41% per annum over the same time period. Ankündigung • Jun 14
First Solar, Inc. Announces Limited Production Run of World’S First Bifacial Thin Film Photovoltaic Module First Solar, Inc. announced a limited production run of the world’s first bifacial solar panel utilizing an advanced thin film semiconductor. A fully functional pre-commercial Series 6 Plus Bifacial photovoltaic (PV) module will make its industry debut at Intersolar Europe in Munich, Germany and will be on display at First Solar’s booth (#520) in Hall A1 from June 14 to 17, 2023. The module, which is undergoing field and laboratory testing, builds on the track record of First Solar’s successful Series 6 monofacial module platform. The module features an innovative transparent back contact, pioneered by First Solar’s research and development (R&D) teams, which, in addition to enabling bifacial energy gain, allows infrared wavelengths of light to pass through rather than be absorbed as heat, and is expected to lower the operational temperature of the bifacial module and result in a higher specific energy yield. Series 6 Plus monofacial module features an industry-best 0.3% warranted degradation rate, superior temperature coefficient, spectral response, and shading behavior, and an anti-reflective coating to enhance energy production. Moreover, unlike crystalline silicon (c-Si) panels, First Solar’s Series 6 Plus module does not experience losses from Light Induced Degradation (LID) and Light and elevated Temperature Induced Degradation (LeTID). The module is manufactured under one roof with 100% traceable quality assurance, exceeding International Electrotechnical Commission (IEC) standards in high temperature, high humidity, and extreme desert and coastal applications. Recent Insider Transactions • May 17
Independent Director recently sold Mex$10m worth of stock On the 12th of May, Paul Stebbins sold around 3k shares on-market at roughly Mex$4,044 per share. This transaction amounted to 8.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$28m. Insiders have been net sellers, collectively disposing of Mex$1.6b more than they bought in the last 12 months. Ankündigung • May 13
First Solar, Inc. (NasdaqGS:FSLR) acquired Evolar AB from Magnora ASA (OB:MGN) for $38 million. First Solar, Inc. (NasdaqGS:FSLR) acquired Evolar AB from Magnora ASA (OB:MGN) for $38 million on May 12, 2023. Under the terms of agreement, First Solar paid upfront consideration of $38 million and an additional $42 million to be paid subject to certain technical milestones being achieved in the future. Magnora sold its stake for $29 million and further milestone payment of $24 million. Upon closing of the transaction, approximately 30 of Evolar’s Research & Development staff will transition to First Solar. Lundin, Statkraft, Hafslund, Arise Windpower, DNV and Aker companies advised Magnora in transaction. Deloitte AS acted as accountant to Magnora.
First Solar, Inc. (NasdaqGS:FSLR) completed the acquisition of Evolar AB from Magnora ASA (OB:MGN) on May 12, 2023. Buying Opportunity • May 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be Mex$4,118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has declined by 22%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings is also forecast to grow by 37% per annum over the same time period. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: US$0.40 (vs US$0.41 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.40 (up from US$0.41 loss in 1Q 2022). Revenue: US$548.3m (up 49% from 1Q 2022). Net income: US$42.6m (up US$85.8m from 1Q 2022). Profit margin: 7.8% (up from net loss in 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 09
Independent Director recently sold Mex$28m worth of stock On the 8th of March, Richard Chapman sold around 8k shares on-market at roughly Mex$3,789 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$1.6b more than they bought in the last 12 months. Reported Earnings • Mar 01
Full year 2022 earnings released: US$0.41 loss per share (vs US$4.41 profit in FY 2021) Full year 2022 results: US$0.41 loss per share (down from US$4.41 profit in FY 2021). Revenue: US$2.62b (down 10% from FY 2021). Net loss: US$44.2m (down 109% from profit in FY 2021). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Feb 15
First Solar, Inc. to Report Q4, 2022 Results on Feb 28, 2023 First Solar, Inc. announced that they will report Q4, 2022 results After-Market on Feb 28, 2023 Buying Opportunity • Feb 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.5%. The fair value is estimated to be Mex$3,864, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings is also forecast to grow by 48% per annum over the same time period. Reported Earnings • Oct 28
Third quarter 2022 earnings released: US$0.46 loss per share (vs US$0.42 profit in 3Q 2021) Third quarter 2022 results: US$0.46 loss per share (down from US$0.42 profit in 3Q 2021). Revenue: US$628.9m (up 7.8% from 3Q 2021). Net loss: US$49.2m (down 209% from profit in 3Q 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Semiconductor industry. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 37% per year. Recent Insider Transactions • Sep 16
Insider recently sold Mex$1.5b worth of stock On the 13th of September, Farhad Ebrahimi sold around 660k shares on-market at roughly Mex$2,348 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$1.5b more than they bought in the last 12 months. Recent Insider Transactions • Aug 03
Independent Director recently sold Mex$13m worth of stock On the 2nd of August, Michael T. Sweeney sold around 7k shares on-market at roughly Mex$2,050 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$16m more than they bought in the last 12 months. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.78 in 2Q 2021) Second quarter 2022 results: EPS: US$0.52 (down from US$0.78 in 2Q 2021). Revenue: US$621.0m (down 1.3% from 2Q 2021). Net income: US$55.8m (down 32% from 2Q 2021). Profit margin: 9.0% (down from 13% in 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 23% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 15% share price gain to Mex$1,510, the stock trades at a forward P/E ratio of 98x. Average forward P/E is 17x in the Semiconductor industry globally. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$785 per share. Board Change • May 28
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 8 highly experienced directors. Independent Director Anita George was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 29
First quarter 2022 earnings released: US$0.41 loss per share (vs US$1.98 profit in 1Q 2021) First quarter 2022 results: US$0.41 loss per share (down from US$1.98 profit in 1Q 2021). Revenue: US$367.0m (down 54% from 1Q 2021). Net loss: US$43.3m (down 121% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 9.6%, compared to a 25% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$4.41 (up from US$3.76 in FY 2020). Revenue: US$2.92b (up 7.8% from FY 2020). Net income: US$468.7m (up 18% from FY 2020). Profit margin: 16% (up from 15% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 12% compared to a 26% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to Mex$1,561, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Semiconductor industry globally. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,555 per share. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS US$0.42 (vs US$1.46 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$583.5m (down 37% from 3Q 2020). Net income: US$45.2m (down 71% from 3Q 2020). Profit margin: 7.7% (down from 17% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improved over the past week After last week's 16% share price gain to Mex$2,469, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Semiconductor industry globally. Total returns to shareholders of 215% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$3,448 per share. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS US$0.78 (vs US$0.35 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: US$629.2m (down 2.1% from 2Q 2020). Net income: US$82.4m (up 123% from 2Q 2020). Profit margin: 13% (up from 5.7% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 15% share price gain to US$1,845, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 23x in the Semiconductor industry globally. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$2,786 per share. Reported Earnings • May 03
First quarter 2021 earnings released: EPS US$1.98 (vs US$0.86 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$803.4m (up 51% from 1Q 2020). Net income: US$209.7m (up 131% from 1Q 2020). Profit margin: 26% (up from 17% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improved over the past week After last week's 17% share price gain to US$1,815, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 25x in the Semiconductor industry globally. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,441 per share. Recent Insider Transactions • Mar 06
Independent Director recently sold Mex$17m worth of stock On the 3rd of March, George Hambro sold around 10k shares on-market at roughly Mex$1,684 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$28m more than they bought in the last 12 months. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS US$3.76 (vs US$1.09 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$2.71b (down 12% from FY 2019). Net income: US$398.4m (up US$513.3m from FY 2019). Profit margin: 15% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue misses expectations Revenue missed analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 8.9%, compared to a 21% growth forecast for the Semiconductor industry in Mexico. Is New 90 Day High Low • Feb 27
New 90-day low: Mex$1,700 The company is down 11% from its price of Mex$1,900 on 27 November 2020. The Mexican market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$471 per share. Is New 90 Day High Low • Jan 29
New 90-day high: Mex$2,129 The company is up 15% from its price of Mex$1,850 on 30 October 2020. The Mexican market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$437 per share. Is New 90 Day High Low • Jan 08
New 90-day high: Mex$2,113 The company is up 24% from its price of Mex$1,710 on 09 October 2020. The Mexican market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$423 per share. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 16% share price gain to US$2,090, the stock is trading at a trailing P/E ratio of 45.7x, up from the previous P/E ratio of 39.4x. This compares to an average P/E of 31x in the Semiconductor industry. Total returns to shareholders over the past three years are 55%. Is New 90 Day High Low • Dec 23
New 90-day high: Mex$2,090 The company is up 57% from its price of Mex$1,330 on 21 September 2020. The Mexican market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$453 per share. Recent Insider Transactions • Nov 18
Independent Director recently sold Mex$12m worth of stock On the 17th of November, Michael T. Sweeney sold around 7k shares on-market at roughly Mex$1,657 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Oct 29
New 90-day high: Mex$1,970 The company is up 47% from its price of Mex$1,336 on 28 July 2020. The Mexican market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$273 per share. 
