First Solar Inc
Research First Solar Inc (FSLR) on Bullrun: valuation model: 35.1% undervalued, market cap USD 22.23B, P/E 12.7. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerFSLR
- ExchangeNASDAQ
- CountryUnited States
- SectorTechnology
- IndustrySolar
- CurrencyUSD
- Valuation signal35.1% undervalued
- Market capUSD 22.23B
- P/E12.7
- Financial periodQ2 2026
- RevenueUSD 1.06B
- Net incomeUSD 422.57M
- Free cash flow-USD 306.22M
- Gross margin57.3%
Valuation Snapshot
Bullrun's latest valuation model marks First Solar Inc as 35.1% undervalued; latest market cap is USD 22.23B; P/E is 12.7.
Peer valuation comparison
Latest P/E is 12.75x versus a Technology sector median of 28.57x (55.4% below).
Latest P/E is 12.75x versus a United States median of 24.87x (48.7% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 5.22B | USD 1.53B | USD 1.19B | 40.6% | 14.21 | USD 2.80B | USD 498.57M | USD 9.54B |
| FY2024 | USD 4.21B | USD 1.29B | -USD 308.08M | 44.2% | 12.02 | USD 1.62B | USD 609.78M | USD 7.98B |
| FY2023 | USD 3.32B | USD 830.78M | -USD 784.52M | 39.2% | 7.74 | USD 1.95B | USD 560.31M | USD 6.69B |
| FY2022 | USD 2.62B | -USD 44.17M | -USD 30.24M | 2.7% | -0.41 | USD 1.48B | USD 184.35M | USD 5.84B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 22.23B | 12.7 | n/a | n/a |
| 2025 | 2025-12-31 | USD 28.03B | 18.4 | n/a | n/a |
| 2024 | 2024-12-31 | USD 18.87B | 14.7 | n/a | n/a |
| 2023 | 2023-12-29 | USD 18.41B | 39.1 | n/a | n/a |
| 2022 | 2022-12-30 | USD 15.97B | 170.2 | n/a | n/a |
| 2021 | 2021-12-31 | USD 9.27B | 19.9 | n/a | n/a |
About First Solar Inc
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon PV solar modules. It also designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity.
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Frequently asked questions
Is First Solar Inc overvalued or undervalued?
Bullrun's valuation model currently marks First Solar Inc as 35.1% undervalued.
What is First Solar Inc's market cap?
First Solar Inc's market capitalization is USD 22.23B.
What is First Solar Inc's P/E ratio?
First Solar Inc's price-to-earnings (P/E) ratio is 12.7.
What does First Solar Inc do?
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon PV solar modules. It also designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity.