# First Solar share price today (First Solar, Inc., FSLR)

> First Solar, Inc.'s earnings have grown faster than its share price. Earnings per share grew +18.2% in a year while the price moved −30.4%. FSLR · Technology · Solar · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/fslr

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: $185.90 (−30.4% in a year)
- P/E: 10.8× (lower than 98% of the last 4.6 years)
- Revenue (Jun 2026): $1.1 B (−3.7% on a year ago)
- Profit (Jun 2026): $423 M (+23.6% on a year ago)
- Operating margin: 42.6% (+9.6 points on a year ago)
- ROE: 16%, FY25
- ROIC: 19.8%, against a 14.0% cost of capital: +5.8 points

The main question: yearly earnings per share moved +18.2% while the share price moved −30.4%. ## What is the First Solar share price today? First Solar, Inc.'s share price was $185.90 at the close on 3 November 2026. It has been falling for 2 weeks. That is 13.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between $172 and $307, and at that close it sat 10% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 13 weeks running. Over the last 10 years the share price moved +308% while the S&P 500 moved +255%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 7 August 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does First Solar pay? First Solar, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is First Solar on? First Solar is on 2 of our US lists: S&P 500 companies and US tech stocks. - [S&P 500 companies](https://www.sectoralpha.in/sp-500-stocks)
- [US tech stocks](https://www.sectoralpha.in/us-tech-stocks)

## Is First Solar profitable? First Solar, Inc. earned $423 M of net profit in the Jun 2026 quarter, +23.6% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY25 profit was $1.5 B. Over 4 years profit has grown 34.4% a year on average. That is 40.0% of the quarter's revenue. The same quarter a year earlier earned $342 M. For the full year, FY25 profit was $1.5 B (+18.3% on the year before). Why profit moved: revenue changed −3.7% on a year earlier and the margin moved +9.6 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +41.8% and revenue +27.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra dollar of revenue adds more to profit. ## How much revenue does First Solar make, and is it growing? First Solar, Inc. reported $1.1 B of revenue in the Jun 2026 quarter, −3.7% on the same quarter a year earlier. Over 4 years it has grown 15.6% a year on average. The last full year, FY25, came in at $5.2 B. The last four reported quarters add to $5.4 B. FY25 revenue was $5.2 B, +24.1% on the year before. Recent pace: the last four quarters grew +27.7% on average, against 15.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +23.8%, against +19.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +38.9%, against +20.4% a year (accelerating). ## How much of every $100 of sales does First Solar keep? First Solar, Inc.'s operating margin was 42.6% in the Jun 2026 quarter, 9.6 percentage points higher than the same quarter a year ago. Across 5 years it has been between −10.7% and 33.1%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +9.6 percentage points on the year while gross margin changed +11.7 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is First Solar's profit turning into cash? Over the last 3 years, 106% of First Solar, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $2.1 B of operating cash against $1.5 B of profit. After $870 M of spending on assets, $1.2 B was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does First Solar's cash go? First Solar, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $3.8 B on assets over the last 3 years. Averaged over those years that is 24.2% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $3.8 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is First Solar's P/E ratio, and how does it compare with its own history? First Solar, Inc.'s P/E is 10.8×, about the lowest it has ever been. Its usual P/E (the middle reading) is 19.9×, over 4.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +18.2% while the price moved −30.4%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +7.0% a year; about +54.3% a year came from earnings growth and about −47.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the First Solar business getting better or worse? First Solar, Inc.'s business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.0%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## How much does First Solar earn on its capital? First Solar, Inc. earned a ROE of 16% in FY25. That is up from a low of −1% in FY22. Its return on capital used (ROIC) is 5.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 29.3% net margin and 0.39× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 29.3% net margin × 0.39× asset turnover × 1.40× leverage (assets divided by equity) ≈ 16.0% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 19.8% − 14.0% = +5.8 percentage points. The 14.0% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. A gap this wide means each dollar put back into the business creates more than a dollar of value. The 19.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 21.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does First Solar have too much debt? First Solar, Inc. has total debt of $194 M against shareholder equity of $10.3 B as of Jun 2026, so its debt is 0.02× its equity, which is very little. Year by year, that ratio went from 0.07 in FY21 to 0.07 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the First Solar shareholding pattern? 11.4% of First Solar, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 4.9 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is First Solar from balance-sheet trouble? For First Solar, Inc., the Z-score is 6.61. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 6.61 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does First Solar rank in its industry? 67.8 out of 100, rank 2 of 10 in Solar, with 81% of the evidence available. First Solar, Inc. scores 67.8 out of 100 against the 10 companies it is compared with in Solar, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 24.9 + 17.7 + 14.5 + 10.7 = 67.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is First Solar compared with? First Solar ranks 2 of 10 Solar companies on the 4-Factor Sector Score, with 67.8 out of 100. 1. TOYO Co., Ltd. TOYO · basing · Most evidence points up · 81% evidence 68.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.4/35 · Revenue 100% · Profit 100% · Operating margin change 6.6 points · 83% evidence Capital efficiency 20.0/25 · ROCE 36.7% · Operating margin 19.1% · 76% evidence Valuation 12.8/20 · P/E 3.9× · PEG 0.84 · 65% evidence Relative strength 7.0/20 · Lead over its industry -14.6% · Lead over S&P 500 -38.2% · 1 year -28.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 28.4 + 20 + 12.8 + 7 = 68.2 · What this means: Earnings are strong; relative strength in its sector is -14.6% and the one-year return is -28.2%. 2. First Solar, Inc. this page FSLR · basing · Most evidence points up · 81% evidence 67.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.9/35 · Revenue 23.8% · Profit 38.9% · Operating margin change 9.6 points · 83% evidence Capital efficiency 17.7/25 · ROCE 16% · Operating margin 42.6% · 76% evidence Valuation 14.5/20 · P/E 14.5× · PEG 0.38 · 65% evidence Relative strength 10.7/20 · Lead over its industry 4.1% · Lead over S&P 500 -20.6% · 1 year -30.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.9 + 17.7 + 14.5 + 10.7 = 67.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Nextpower Inc.](https://www.sectoralpha.in/us/stocks/nxt) NXT · basing · Too little evidence to rank firmly · 58% evidence 60.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.8/35 · Revenue n/a · Profit n/a · Operating margin change 0.6 points · 45% evidence Capital efficiency 20.9/25 · ROCE 22.8% · Operating margin 20.9% · 76% evidence Valuation 9.8/20 · P/E 28.5× · PEG n/a · 15% evidence Relative strength 15.2/20 · Lead over its industry 16.6% · Lead over S&P 500 -12.2% · 1 year -8.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.8 + 20.9 + 9.8 + 15.2 = 60.7 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Shoals Technologies Group, Inc.](https://www.sectoralpha.in/us/stocks/shls) SHLS · basing · Evidence leans up · 81% evidence 60.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 47% · Profit 45.5% · Operating margin change -3.1 points · 83% evidence Capital efficiency 12.6/25 · ROCE 9.8% · Operating margin 13.8% · 76% evidence Valuation 9.3/20 · P/E 52.2× · PEG 0.89 · 65% evidence Relative strength 17.3/20 · Lead over its industry 23.9% · Lead over S&P 500 -5.2% · 1 year -6.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.4 + 12.6 + 9.3 + 17.3 = 60.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Sunrun Inc.](https://www.sectoralpha.in/us/stocks/run) RUN · basing · Evidence leans up · 74% evidence 52.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 63.4% · Profit n/a · Operating margin change 23.7 points · 62% evidence Capital efficiency 6.2/25 · ROCE 0.4% · Operating margin 4% · 76% evidence Valuation 15.8/20 · P/E 8× · PEG 0.14 · 65% evidence Relative strength 6.7/20 · Lead over its industry -18% · Lead over S&P 500 -39.3% · 1 year -49.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.8 + 6.2 + 15.8 + 6.7 = 52.5 · What this means: Earnings are strong; relative strength in its sector is -18% and the one-year return is -49.3%. 6. [SolarEdge Technologies, Inc.](https://www.sectoralpha.in/us/stocks/sedg) SEDG · turning · Evidence leans up · 64% evidence 50.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 41.9% · Profit n/a · Operating margin change 17.4 points · 62% evidence Capital efficiency 3.5/25 · ROCE -10.8% · Operating margin -6.5% · 76% evidence Valuation 9.2/20 · P/E 50× · PEG n/a · 15% evidence Relative strength 14.3/20 · Lead over its industry 3.2% · Lead over S&P 500 -22.5% · 1 year -17.8% · 100% evidence · 1 of 12 weeks ahead Exact sum: 23.1 + 3.5 + 9.2 + 14.3 = 50.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Enphase Energy, Inc.](https://www.sectoralpha.in/us/stocks/enph) ENPH · basing · Evidence leans down · 81% evidence 41.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.9/35 · Revenue -10.4% · Profit -22.9% · Operating margin change 6.9 points · 83% evidence Capital efficiency 12.3/25 · ROCE 4.9% · Operating margin 18% · 76% evidence Valuation 12.5/20 · P/E 48.4× · PEG 0.67 · 65% evidence Relative strength 6.1/20 · Lead over its industry -1.5% · Lead over S&P 500 -25.7% · 1 year 0.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.9 + 12.3 + 12.5 + 6.1 = 41.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Array Technologies, Inc.](https://www.sectoralpha.in/us/stocks/arry) ARRY · basing · Evidence leans down · 64% evidence 37.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.9/35 · Revenue 1.2% · Profit n/a · Operating margin change -1.9 points · 62% evidence Capital efficiency 9.5/25 · ROCE 7% · Operating margin 10.9% · 76% evidence Valuation 11.5/20 · P/E -7.7× · PEG n/a · 15% evidence Relative strength 6.8/20 · Lead over its industry -16.7% · Lead over S&P 500 -39% · 1 year -45.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 9.9 + 9.5 + 11.5 + 6.8 = 37.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Canadian Solar Inc.](https://www.sectoralpha.in/us/stocks/csiq) CSIQ · quiet · Most evidence points down · 64% evidence 26.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.6/35 · Revenue -15.7% · Profit n/a · Operating margin change -13.4 points · 62% evidence Capital efficiency 7.6/25 · ROCE 1.1% · Operating margin -5.9% · 76% evidence Valuation 8.5/20 · P/E 54.2× · PEG n/a · 15% evidence Relative strength 0.0/20 · Lead over its industry -24.7% · Lead over S&P 500 -43.6% · 1 year -64.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.6 + 7.6 + 8.5 + 0 = 26.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. Tigo Energy, Inc. TYGO · Too little evidence to rank firmly · 44% evidence 43.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.3/43.75 · Revenue 50% · Profit n/a · Operating margin change -0.3 points · 62% evidence Capital efficiency 4.8/31.25 · ROCE -5.2% · Operating margin -6.6% · 76% evidence Valuation 12.7/25 · P/E 17.7× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 26.3 + 4.8 + 12.7 = 43.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Solar](https://www.sectoralpha.in/us/sectors/solar), all 10 compared on one page. ## Which companies are close to First Solar in size? First Solar is the largest of 9 Solar companies on Sector Alpha by market value (scores of 3 November 2026). It is the largest. Just below it: Nextpower Inc., Enphase Energy, Inc., Sunrun Inc., SolarEdge Technologies, Inc., Shoals Technologies Group, Inc. and Array Technologies, Inc. ### Solar companies close in size

1. First Solar, Inc. $20 billion
2. [Nextpower Inc.](https://www.sectoralpha.in/us/stocks/nxt) $14.5 billion
3. [Enphase Energy, Inc.](https://www.sectoralpha.in/us/stocks/enph) $4 billion
4. [Sunrun Inc.](https://www.sectoralpha.in/us/stocks/run) $2.1 billion
5. [SolarEdge Technologies, Inc.](https://www.sectoralpha.in/us/stocks/sedg) $2 billion
6. [Shoals Technologies Group, Inc.](https://www.sectoralpha.in/us/stocks/shls) $1.4 billion
7. [Array Technologies, Inc.](https://www.sectoralpha.in/us/stocks/arry) $715 million

[All 9 Solar companies, largest first](https://www.sectoralpha.in/us/sectors/solar#all-companies)

### Companies close in size in other industries

1. [NRG Energy, Inc.](https://www.sectoralpha.in/us/stocks/nrg) $19.9 billion · Utilities - Independent Power Producers
2. [SBA Communications Corporation](https://www.sectoralpha.in/us/stocks/sbac) $19.6 billion · REIT - Specialty
3. First Solar, Inc. $19.6 billion
4. [International Paper Company](https://www.sectoralpha.in/us/stocks/ip) $19.4 billion · Packaging & Containers
5. [Toast, Inc.](https://www.sectoralpha.in/us/stocks/tost) $19.3 billion · Software - Infrastructure

## What else do people ask about First Solar? ### What were First Solar's latest quarterly results? First Solar, Inc. reported revenue of $1.1 B and net profit of $423 M for the Jun 2026 quarter. Revenue fell 3.7% and profit rose 23.6% compared with a year earlier. Earnings per share were $3.92. The operating margin was 42.6%, 9.6 percentage points higher than a year earlier (as of 3 November 2026). ### What is First Solar's market cap? First Solar, Inc.'s market capitalisation is $20.0 B at a stock price of $185.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### What is First Solar's P/E ratio? First Solar, Inc.'s P/E is 10.8×, higher than 2% of its own last 5 years. Its usual level (the middle reading) is 19.9×. This compares the price with the company's own past; it is not a view on what the shares are worth (as of 3 November 2026). ### How is First Solar valued against its own history? Against its own history, First Solar, Inc.'s valuation is low: its P/E of 10.8× has been lower only 2% of the time in 5 years (usual level 19.9×). This compares the price with the company's own past; it is not a view on what the shares are worth or where the price goes next (as of 3 November 2026). ### How is First Solar performing? First Solar, Inc.'s share price has been falling for 2 weeks. In its latest quarter, revenue fell 3.7% and profit rose 23.6% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 13 weeks running (as of 3 November 2026). ### Will First Solar's stock price go up? This page does not forecast First Solar, Inc.'s stock price. What it shows instead: the stock price is $185.90, and it has been falling for 2 weeks. Its P/E of 10.8× is higher than 2% of its own last 5 years (as of 3 November 2026). ### Does First Solar have too much debt? No, First Solar, Inc. has little debt: its debt is 0.03× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is First Solar in its business cycle? First Solar, Inc.'s FY25 operating margin was 30.6%, against a 5-year range of −10.7% to 33.1%: the middle of its own range, neither a peak nor a low. The latest quarter was 42.6%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the First Solar story? The main question: yearly earnings per share moved +18.2% while the share price moved −30.4%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is First Solar a stock worth studying right now? What the numbers show: First Solar, Inc.'s earnings have grown faster than its share price. Earnings per share grew +18.2% in a year while the price moved −30.4%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ## Lists

- S&P 500 companies: https://www.sectoralpha.in/sp-500-stocks
- US tech stocks: https://www.sectoralpha.in/us-tech-stocks

This is research, not advice. We’re not SEBI-registered.