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First Solar Inc FSLR

Morningstar Rating
$179.56 −0.56 (0.31%)
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Company Report

First Solar: Recent Media Reports Hint at Tightening Restrictions on US Solar Imports

Last week, Reuters reported the Biden administration is expected to reinstate 15% tariffs on bifacial solar modules. This follows speculation that a new round of antidumping and countervailing duties (AD/CVD) could be coming this summer. We view these reports, along with recent comments from Treasury Secretary Janet Yellen, as pointing to further tightening of solar panel imports into the US. Further tightening would benefit First Solar, while being a net negative for the rest of our solar sector coverage.

Price vs Fair Value

FSLR is trading at a 5% discount.
Price
$176.28
Fair Value
$474.00
Uncertainty
High
1-Star Price
$543.49
5-Star Price
$256.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

First Solar’s balance sheet strength has enabled the company to persist through solar cycles when competitors have failed.

Bears

First Solar competes in the fiercely competitive and highly commoditized solar module industry.

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News

Trading Information

Previous Close Price
$180.12
Day Range
$178.27183.78
52-Week Range
$129.39232.00
Bid/Ask
$179.19 / $179.78
Market Cap
$19.21 Bil
Volume/Avg
894,039 / 2.2 Mil

Key Statistics

Price/Earnings (Normalized)
22.17
Price/Sales
5.70
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield

Company Profile

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world’s largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
Sector
Technology
Industry
Solar
Stock Style Box
Mid Growth
Total Number of Employees
6,700

Competitors

Valuation

Metric
FSLR
SHLS
ENPH
Price/Earnings (Normalized)
22.1712.3233.57
Price/Book Value
2.822.6416.72
Price/Sales
5.702.858.74
Price/Cash Flow
16.779.1329.55
Price/Earnings
FSLR
SHLS
ENPH

Financial Strength

Metric
FSLR
SHLS
ENPH
Quick Ratio
2.691.834.02
Current Ratio
3.552.454.59
Interest Coverage
62.213.2851.17
Quick Ratio
FSLR
SHLS
ENPH

Profitability

Metric
FSLR
SHLS
ENPH
Return on Assets (Normalized)
9.73%14.25%18.18%
Return on Equity (Normalized)
14.49%23.22%64.33%
Return on Invested Capital (Normalized)
12.31%18.64%24.93%
Return on Assets
FSLR
SHLS
ENPH
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Solar Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ENPH
Enphase Energy IncHkdhjzvdbyLhgk$15.4 Bil
NXT
NEXTracker Inc Ordinary Shares - Class AHvfzsztcFykrw$6.1 Bil
XNYIF
Xinyi Solar Holdings LtdFjzhrv$5.9 Bil
XISHY
Xinyi Solar Holdings Ltd ADRPqggt$5.9 Bil
GCPEF
GCL Technology Holdings LtdXcs$3.6 Bil
SEDG
SolarEdge Technologies IncMfdxkkmdGpkc$3.2 Bil
RUN
Sunrun IncLfcpbrmGrlh$2.2 Bil
SHLS
Shoals Technologies Group Inc Ordinary Shares - Class AHkqlgnmrNpgh$1.4 Bil
SPWR
SunPower CorpHlynHckj$343.9 Mil

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