NasdaqGS:FSLR

Stock Analysis Report

Executive Summary

First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United States and internationally.

Snowflake

Fundamentals

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has First Solar's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.3%

NasdaqGS:FSLR

0.8%

US Semiconductor

1.1%

US Market


1 Year Return

32.9%

NasdaqGS:FSLR

11.3%

US Semiconductor

2.1%

US Market

FSLR outperformed the Semiconductor industry which returned 11.1% over the past year.

FSLR outperformed the Market in United States of America which returned 2% over the past year.


Share holder returns

FSLRIndustryMarket
7 Day2.3%0.8%1.1%
30 Day2.8%7.7%3.7%
90 Day0.9%12.3%2.3%
1 Year32.9%32.9%13.3%11.3%4.4%2.1%
3 Year84.3%84.3%83.6%72.9%47.0%37.4%
5 Year-5.6%-5.6%123.2%100.4%61.6%43.8%

Price Volatility Vs. Market

How volatile is First Solar's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Solar undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

First Solar's share price is below the future cash flow value, and at a moderate discount (> 20%).

First Solar's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

First Solar is overvalued based on earnings compared to the US Semiconductor industry average.

First Solar is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

First Solar is poor value based on expected growth next year.


Price Based on Value of Assets

First Solar is good value based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is First Solar expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

41.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

First Solar's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

First Solar's earnings are expected to grow significantly at over 20% yearly.

First Solar's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.

First Solar's earnings growth is expected to exceed the United States of America market average.

First Solar's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

First Solar is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has First Solar performed over the past 5 years?

-40.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Solar's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

First Solar has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.

First Solar has become profitable in the last year making it difficult to compare the US Semiconductor industry average.


Return on Equity

First Solar has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

It is difficult to establish if First Solar has efficiently used its assets last year compared to the US Semiconductor industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if First Solar improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is First Solar's financial position?


Financial Position Analysis

First Solar is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

First Solar's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

First Solar's level of debt (9.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (4.2% vs 9.6% today).

Operating cash flow is negative therefore debt is not well covered.

Unable to confirm if the interest payments on First Solar's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 6.9x debt.


Next Steps

Dividend

What is First Solar's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate First Solar's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate First Solar's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as First Solar has not reported any payouts.

Unable to verify if First Solar's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as First Solar has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of First Solar's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

What is the CEO of First Solar's salary, the management and board of directors tenure and is there insider trading?

3.6yrs

Average management tenure


CEO

Mark Widmar (53yo)

3.2yrs

Tenure

US$7,032,617

Compensation

Mr. Mark R. Widmar has been the Chief Executive Officer and Director of First Solar, Inc. since July 1, 2016. Mr. Widmar served as the Chief Financial Officer of 8Point3 General Partner, LLC, a General Par ...


CEO Compensation Analysis

Mark's remuneration is about average for companies of similar size in United States of America.

Mark's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.6yrs

Average Tenure

54yo

Average Age

The tenure for the First Solar management team is about average.


Board Age and Tenure

8.3yrs

Average Tenure

62yo

Average Age

The tenure for the First Solar board of directors is about average.


Insider Trading

First Solar individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$112,59007 Aug 19
R. Kennedy
EntityIndividual
Shares1,800
Max PriceUS$62.55

Ownership Breakdown


Management Team

  • Raffi Garabedian (52yo)

    Chief Technology Officer

    • Tenure: 7.3yrs
    • Compensation: US$3.26m
  • Georges Antoun (56yo)

    Chief Commercial Officer

    • Tenure: 3.2yrs
    • Compensation: US$3.35m
  • Paul Kaleta (63yo)

    Executive VP

    • Tenure: 5.5yrs
    • Compensation: US$4.92m
  • Mark Widmar (53yo)

    CEO & Director

    • Tenure: 3.2yrs
    • Compensation: US$7.03m
  • Philip deJong (59yo)

    Chief Operating Officer

    • Tenure: 4.2yrs
    • Compensation: US$3.26m
  • Mike Koralewski

    Senior Vice President of Global Manufacturing

    • Tenure: 4yrs
  • Alex Bradley (38yo)

    Chief Financial Officer

    • Tenure: 3.2yrs
    • Compensation: US$2.45m
  • Chris Bueter (55yo)

    Executive Vice President of Human Resources

    • Tenure: 3.6yrs
  • Steve Haymore

    Director of Investor Relations

    • Tenure: 0yrs
  • Byron Jeffers (35yo)

    Chief Accounting Officer

    • Tenure: 0.3yrs

Board Members

  • Mike Sweeney (61yo)

    Independent Director

    • Tenure: 16.2yrs
    • Compensation: US$285.14k
  • Paul Stebbins (62yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: US$272.38k
  • Bill Post (68yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: US$260.14k
  • Craig Kennedy (67yo)

    Independent Director

    • Tenure: 12yrs
    • Compensation: US$260.14k
  • Mike Ahearn (62yo)

    Chairman of the Board

    • Tenure: 16.7yrs
    • Compensation: US$385.09k
  • Mark Widmar (53yo)

    CEO & Director

    • Tenure: 3.2yrs
    • Compensation: US$7.03m
  • Chip Hambro (56yo)

    Independent Director

    • Tenure: 7.3yrs
    • Compensation: US$272.38k
  • Sharon Allen (67yo)

    Independent Director

    • Tenure: 6.2yrs
    • Compensation: US$295.14k
  • Richard Chapman (65yo)

    Independent Director

    • Tenure: 7.3yrs
    • Compensation: US$260.14k
  • Molly Joseph (45yo)

    Independent Director

    • Tenure: 2.3yrs
    • Compensation: US$260.14k

Company Information

First Solar, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Solar, Inc.
  • Ticker: FSLR
  • Exchange: NasdaqGS
  • Founded: 1999
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$6.686b
  • Shares outstanding: 105.39m
  • Website: https://www.firstsolar.com

Number of Employees


Location

  • First Solar, Inc.
  • 350 West Washington Street
  • Suite 600
  • Tempe
  • Arizona
  • 85281
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSLRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 2006
F3ADB (Deutsche Boerse AG)YesCommon StockDEEURNov 2006
F3AXTRA (XETRA Trading Platform)YesCommon StockDEEURNov 2006
FSLR *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNNov 2006
FSLRSWX (SIX Swiss Exchange)YesCommon StockCHCHFNov 2006
0R06LSE (London Stock Exchange)YesCommon StockGBUSDNov 2006
FSLRWBAG (Wiener Boerse AG)YesCommon StockATEURNov 2006
FSLR34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EA REPR 1/2 COM SHS USD0.001BRBRLAug 2016

Biography

First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/16 23:54
End of Day Share Price2019/09/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.