Company Valuation: First Solar, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,267 15,968 18,407 18,868 28,032 18,554 - -
Change - 72.31% 15.27% 2.5% 48.57% -33.81% - -
Enterprise Value (EV) 1 7,681 13,575 16,865 17,685 25,675 16,335 14,155 11,306
Change - 76.73% 24.24% 4.86% 45.18% -36.38% -13.35% -20.12%
P/E 19.9x -365x 22.3x 14.7x 18.4x 9.88x 7.36x 5.98x
PBR 1.56x 2.74x 2.75x 2.37x 2.94x 1.62x 1.34x 1.09x
PEG - 3x -0x 0.3x 1x 0.4x 0.2x 0.3x
Capitalization / Revenue 3.17x 6.1x 5.55x 4.49x 5.37x 3.68x 3.12x 2.8x
EV / Revenue 2.63x 5.18x 5.08x 4.2x 4.92x 3.24x 2.38x 1.71x
EV / EBITDA 11x 56x 14x 9.73x 12.1x 6.23x 4.28x 2.86x
EV / EBIT 17.5x -498x 18.9x 12.7x 16.1x 8.53x 5.38x 3.42x
EV / FCF -25.4x -449x -21.5x -57.4x 21.6x -109x 7.11x 3.93x
FCF Yield -3.94% -0.22% -4.65% -1.74% 4.62% -0.92% 14.1% 25.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 4.38 -0.41 7.74 12.02 14.21 17.47 23.46 28.85
Distribution rate - - - - - - - -
Net sales 1 2,923 2,619 3,319 4,206 5,219 5,038 5,950 6,626
EBITDA 1 699.4 242.5 1,201 1,818 2,126 2,624 3,307 3,950
EBIT 1 439.5 -27.24 892.9 1,394 1,597 1,916 2,633 3,304
Net income 1 468.7 -44.17 830.8 1,292 1,528 1,889 2,549 3,148
Net Debt 1 -1,586 -2,394 -1,542 -1,183 -2,357 -2,218 -4,399 -7,247
Reference price 2 87.16 149.79 172.28 176.24 261.23 172.64 172.64 172.64
Nbr of stocks (in thousands) 106,327 106,606 106,844 107,058 107,308 107,470 - -
Announcement Date 3/1/22 2/28/23 2/27/24 2/25/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.24x3.37x6.48x-.--% 19.22B
30x2.36x15.33x1.51% 127B
19.35x1.06x7.85x0.92% 26.98B
11.55x1.46x7.82x2.04% 23.43B
15.82x3.68x12.77x4.17% 13.6B
21.96x2.63x12.39x-.--% 12.66B
-13.48x0.94x23.23x-.--% 12.16B
15.61x1.01x8.44x1.7% 8.32B
16.35x2.11x10.5x0.15% 7.57B
-7.03x1.37x12.68x-.--% 7.3B
Average 12.04x 2.00x 11.75x 1.05% 25.81B
Weighted average by Cap. 20.64x 2.16x 12.86x 1.3%

Y-o-Y evolution of P/E

Valuation ratios - P/E - First Solar, Inc.

Historical PBR trend

Valuation ratios - PBR - First Solar, Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - First Solar, Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - First Solar, Inc.


Year-on-year evolution of the Yield

Valuation ratios - Yield - First Solar, Inc.
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