First Solar Future Growth

Future criteria checks 5/6

First Solar is forecast to grow earnings and revenue by 28.2% and 18.1% per annum respectively. EPS is expected to grow by 27.6% per annum. Return on equity is forecast to be 22% in 3 years.

Key information

28.2%

Earnings growth rate

27.6%

EPS growth rate

Semiconductor earnings growth	14.6%
Revenue growth rate	18.1%
Future return on equity	22.0%
Analyst coverage	Good
Last updated	15 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

DB:F3A - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	6,690	3,091	1,537	2,802	32
12/31/2025	5,564	2,229	995	2,112	39
12/31/2024	4,272	1,422	-964	799	39
9/30/2024	3,851	1,248	-591	968	N/A
6/30/2024	3,764	1,204	-224	1,187	N/A
3/31/2024	3,564	1,025	-525	905	N/A
12/31/2023	3,319	831	-785	602	N/A
9/30/2023	3,162	474	-530	836	N/A
6/30/2023	2,990	156	-504	800	N/A
3/31/2023	2,801	42	-142	978	N/A
12/31/2022	2,619	-44	-30	873	N/A
9/30/2022	2,524	95	-659	113	N/A
6/30/2022	2,479	189	-424	289	N/A
3/31/2022	2,487	216	-227	378	N/A
12/31/2021	2,923	469	-303	238	N/A
9/30/2021	2,625	453	-45	389	N/A
6/30/2021	2,969	563	-84	292	N/A
3/31/2021	2,983	517	-132	263	N/A
12/31/2020	2,711	398	-380	37	N/A
9/30/2020	3,501	223	147	632	N/A
6/30/2020	3,121	99	-455	107	N/A
3/31/2020	3,063	43	-659	-27	N/A
12/31/2019	3,063	-115	-495	174	N/A
9/30/2019	2,355	-3	-1,433	-793	N/A
6/30/2019	2,484	24	-1,396	-701	N/A
3/31/2019	2,209	-6	-1,296	-585	N/A
12/31/2018	2,244	144	-1,067	-327	N/A
9/30/2018	1,892	-340	-517	293	N/A
6/30/2018	2,303	-192	N/A	1,099	N/A
3/31/2018	2,617	-92	N/A	802	N/A
12/31/2017	2,941	-166	N/A	1,341	N/A
9/30/2017	2,933	-484	N/A	1,175	N/A
6/30/2017	2,527	-539	N/A	510	N/A
3/31/2017	2,920	-603	N/A	616	N/A
12/31/2016	2,905	-416	N/A	207	N/A
9/30/2016	3,516	499	N/A	27	N/A
6/30/2016	4,106	698	N/A	132	N/A
3/31/2016	3,986	803	N/A	184	N/A
12/31/2015	4,113	593	N/A	-325	N/A
9/30/2015	3,645	576	N/A	514	N/A
6/30/2015	3,264	316	N/A	446	N/A
3/31/2015	2,910	223	N/A	575	N/A
12/31/2014	3,391	396	N/A	736	N/A
9/30/2014	3,152	268	N/A	-55	N/A
6/30/2014	3,527	373	N/A	368	N/A
3/31/2014	3,504	406	N/A	471	N/A
12/31/2013	3,310	351	N/A	856	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: F3A's forecast earnings growth (28.2% per year) is above the savings rate (1%).

Earnings vs Market: F3A's earnings (28.2% per year) are forecast to grow faster than the German market (20.8% per year).

High Growth Earnings: F3A's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: F3A's revenue (18.1% per year) is forecast to grow faster than the German market (5.6% per year).

High Growth Revenue: F3A's revenue (18.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: F3A's Return on Equity is forecast to be high in 3 years time (22%)

First Solar Future Growth

Future criteria checks 5/6

Key information

Recent future growth updates

First Solar, Inc. Reaffirms Earnings Guidance for the Year 2024

First Solar, Inc. Provides Earnings Guidance for the Year 2024

First Solar, Inc. Updates Earnings Guidance for the Full Year 2023

First Solar, Inc. Maintains Earnings Guidance for the Full Year 2023

First Solar, Inc. Updates Earnings Guidance for the Year 2022

First Solar, Inc. Updates Earnings Guidance for the Year 2022

Recent updates

Third quarter 2024 earnings released: EPS: US$2.92 (vs US$2.51 in 3Q 2023)

First Solar, Inc. to Report Q3, 2024 Results on Oct 29, 2024

Investor sentiment improves as stock rises 15%

Second quarter 2024 earnings released: EPS: US$3.26 (vs US$1.60 in 2Q 2023)

New major risk - Share price stability

First Solar, Inc. to Report Q2, 2024 Results on Jul 30, 2024

Investor sentiment deteriorates as stock falls 16%

First Solar, Inc. Becomes the Solar Industry's First EPEAT Climate+ Champion, Setting Global Standard for Ultra-Low Carbon Solar

Insider recently sold €1.7m worth of stock

Investor sentiment improves as stock rises 31%

Insider recently sold €1.3m worth of stock

First quarter 2024 earnings released: EPS: US$2.21 (vs US$0.40 in 1Q 2023)

First Solar, Inc. Reaffirms Earnings Guidance for the Year 2024

New minor risk - Insider selling

First Solar, Inc. to Report Q1, 2024 Results on May 01, 2024

First Solar, Inc., Annual General Meeting, May 08, 2024

First Solar, Inc. Provides Earnings Guidance for the Year 2024

Full year 2023 earnings released: EPS: US$7.78 (vs US$0.41 loss in FY 2022)

First Solar, Inc. Announces Board Resignations

First Solar, Inc. to Report Q4, 2023 Results on Feb 27, 2024

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 17%

New minor risk - Share price stability

First Solar, Inc. Updates Earnings Guidance for the Full Year 2023

New major risk - Earnings quality

Third quarter 2023 earnings released: EPS: US$2.51 (vs US$0.46 loss in 3Q 2022)

First Solar, Inc. to Report Q3, 2023 Results on Oct 31, 2023

First Solar, Inc. Maintains Earnings Guidance for the Full Year 2023

Second quarter 2023 earnings released: EPS: US$1.60 (vs US$0.52 in 2Q 2022)

First Solar, Inc. to Report Q2, 2023 Results on Jul 27, 2023

First Solar, Inc. Announces Limited Production Run of World’S First Bifacial Thin Film Photovoltaic Module

Independent Director recently sold €528k worth of stock

First Solar, Inc. (NasdaqGS:FSLR) acquired Evolar AB from Magnora ASA (OB:MGN) for $38 million.

First quarter 2023 earnings released: EPS: US$0.40 (vs US$0.41 loss in 1Q 2022)

Independent Director recently sold €1.5m worth of stock

Full year 2022 earnings released: US$0.41 loss per share (vs US$4.41 profit in FY 2021)

First Solar, Inc. to Report Q4, 2022 Results on Feb 28, 2023

Third quarter 2022 earnings released: US$0.46 loss per share (vs US$0.42 profit in 3Q 2021)

First Solar, Inc. Updates Earnings Guidance for the Year 2022

First Solar, Inc. to Report Q3, 2022 Results on Oct 27, 2022

The funds managed by Real Assets group of PAG completed the acquisition of A solar operations and maintenance (O&M) platform with approximately 665 MWDC ,in Japan from First Solar, Inc. (NasdaqGS:FSLR).

Insider recently sold €77m worth of stock

Independent Director recently sold €638k worth of stock

Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.78 in 2Q 2021)

First Solar, Inc. Updates Earnings Guidance for the Year 2022

Investor sentiment improved over the past week

First Solar, Inc. to Report Q2, 2022 Results on Jul 28, 2022

The funds managed by Real Assets group of PAG completed the acquisition of 293 Megawatts Utility Scale Solar Development Platform in Japan from First Solar, Inc. (NasdaqGS:FSLR).

First Solar, Inc. Announces Director Appointments

Insufficient new directors

PAG entered into a definitive agreement to acquire O&M platform from First Solar, Inc. (NasdaqGS:FSLR).

First quarter 2022 earnings released: US$0.41 loss per share (vs US$1.98 profit in 1Q 2021)

First Solar, Inc., Annual General Meeting, May 26, 2022

First Solar, Inc. to Report Q1, 2022 Results on Apr 28, 2022

First Solar, Inc. Announces Kathryn A. Hollister Not to Stand for Re-Election as A Member of the Board of Directors

First Solar in Talks to Sell Japan Project Development, O&M Biz

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

First Solar, Inc. Provides Earnings Guidance for the Year 2022

Investor sentiment improved over the past week

Sharon L. Allen Intends Not to Stand for Re-Election as Member of the Company’s Board of Directors of First Solar, Inc

First Solar, Inc. to Report Q4, 2021 Results on Mar 01, 2022

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against First Solar, Inc

First Solar, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Bernstein Litowitz Berger & Grossmann LLP Announces the Filing of A Securities Class Action Lawsuit Against First Solar, Inc

Third quarter 2021 earnings released: EPS US$0.42 (vs US$1.46 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.78 (vs US$0.35 in 2Q 2020)

Investor sentiment improved over the past week

First quarter 2021 earnings released: EPS US$1.98 (vs US$0.86 in 1Q 2020)

First Solar, Inc. Raised Earnings Guidance for the Full Year 2021