Company Valuation: First Solar, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 9,267 15,968 18,407 18,868 28,032 20,582 - -
Change - 72.31% 15.27% 2.5% 48.57% -26.58% - -
Enterprise Value (EV) 1 7,681 13,575 16,865 17,685 25,675 17,754 15,777 11,983
Change - 76.73% 24.24% 4.86% 45.18% -30.85% -11.14% -24.05%
P/E ratio 19.9x -365x 22.3x 14.7x 18.4x 10.4x 7.89x 6.63x
PBR 1.56x 2.74x 2.75x 2.37x 2.94x 1.8x 1.47x 1.2x
PEG - 3x -0x 0.3x 1x 0.4x 0.2x 0.3x
Capitalization / Revenue 3.17x 6.1x 5.55x 4.49x 5.37x 4.01x 3.31x 3.02x
EV / Revenue 2.63x 5.18x 5.08x 4.2x 4.92x 3.46x 2.54x 1.76x
EV / EBITDA 11x 56x 14x 9.73x 12.1x 6.92x 4.68x 3x
EV / EBIT 17.5x -498x 18.9x 12.7x 16.1x 9.47x 5.61x 3.53x
EV / FCF -25.4x -449x -21.5x -57.4x 21.6x 42.6x 6.28x 3.54x
FCF Yield -3.94% -0.22% -4.65% -1.74% 4.62% 2.35% 15.9% 28.3%
Dividend per Share 2 - - - - - - - 20.92
Rate of return - - - - - - - 10.9%
EPS 2 4.38 -0.41 7.74 12.02 14.21 18.39 24.3 28.93
Distribution rate - - - - - - - 72.3%
Net sales 1 2,923 2,619 3,319 4,206 5,219 5,137 6,216 6,813
EBITDA 1 699.4 242.5 1,201 1,818 2,126 2,564 3,368 3,999
EBIT 1 439.5 -27.24 892.9 1,394 1,597 1,875 2,814 3,394
Net income 1 468.7 -44.17 830.8 1,292 1,528 1,923 2,629 3,121
Net Debt 1 -1,586 -2,394 -1,542 -1,183 -2,357 -2,828 -4,805 -8,599
Reference price 2 87.16 149.79 172.28 176.24 261.23 191.80 191.80 191.80
Nbr of stocks (in thousands) 106,327 106,606 106,844 107,058 107,308 107,311 - -
Announcement Date 1/3/22 28/2/23 27/2/24 25/2/25 24/2/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.73x3.56x7.15x-.--% 21.17B
-31.02x1.51x33.91x-.--% 19.34B
32.48x7.97x26.89x1.6% 16.19B
28.73x4.11x17.24x-.--% 15.42B
-12.8x1.1x15.71x-.--% 10.29B
18.45x2.7x11.41x - 8.22B
-38.74x8.5x78.48x-.--% 7.1B
35.7x1.38x10.74x0.39% 6.99B
13.1x2.08x9.76x1.31% 5.78B
-5.04x3x30.19x-.--% 5.69B
Average 5.16x 3.59x 24.15x 0.37% 11.62B
Weighted average by Cap. 5.49x 3.70x 22.58x 0.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Equities
  3. FSLR Stock
  4. Valuation First Solar, Inc.