Excluded
DCF
Free cash flow, growth, discount rate, and terminal growth form an intrinsic value range.
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-Positive free-cash-flow history is shorter than two years.
F
US
FSLR.US · FIRST SOLAR, INC.
US · US
Latest price190.57 USD
30D-20.24%
Vs. base value-31.3%
Research summary
FSLR.US latest organized financial period shows revenue grew +24.09% YoY and net income grew +18.28% YoY. Current price is about 191 USD, while the model base case is about 277 USD; the current price sits -31.3% versus the base case. The page shows both reported and adjusted views; valuation still defaults to reported figures, while adjusted figures help isolate structured one-time-item impact. This summary is intended for public-information research and model review.
Key financial trend
Annual financial metrics with switchable views. · Unit: USD
Revenue5B USD
Net income2B USD
Free cash flow1B USD
Operating cash flow2B USD
Price trend
Price date: 2026/04/29 · Updated: 2026/04/29 15:28
Valuation model range
Hover each model row to inspect formulas and inputs.
Current price190.57 USD
Base value277.47 USD
Vs. base-31.3%
Price date2026/04/29
191.50 USD277.47 USD345.68 USD
-31.32%
Calculated
Owner Earnings
Uses recent net income as an owner-earnings proxy and discounts scenario growth.
278.30 USD450.23 USD586.66 USD
-57.67%
450.23 USDCurrent price is 57.7% below the base model value.Adjusted reference: 291.91 USD
Calculated
Reverse DCF
Solves the forward FCF growth rate implied by the current price.
Implied growth3.1%
Current price implies roughly 3.1% annualized FCF growth.
3.1%Current price implies roughly 3.1% annualized FCF growth.
Calculated
Earnings Power Value
Estimates earnings power value without assuming growth.
104.70 USD104.70 USD104.70 USD
+82.02%
104.70 USDCurrent price is 82% above the base model value.
Updated: 2026/04/29 15:28
Valuation basis and non-recurring items
Collapsed by default. Expand to inspect structured one-time items and adjusted figures without making them the primary page focus.
ExpandCollapse
Valuation basis and non-recurring items
Collapsed by default. Expand to inspect structured one-time items and adjusted figures without making them the primary page focus.
A positive amountAfterTax means the item increased reported net income; a negative value means it reduced reported net income. Adjusted net income = reported net income minus total after-tax impact. Valuation defaults to reported figures; adjusted figures are shown to observe one-time-item impact.
| Period | Item | Category | After-tax impact | Confidence |
|---|---|---|---|---|
| 2024/12/31 | Asset impairment | Impairment | -1M USD | Medium |
| 2024/12/31 | Business sale gain/loss | Asset sale gain/loss | 2M USD | Medium |
| 2024/12/31 | Loss contingency | Litigation | -679K USD | Medium |
| 2023/12/31 | Asset impairment | Impairment | -2M USD | Medium |
| 2023/12/31 | Business sale gain/loss | Asset sale gain/loss | 16M USD | Medium |
| 2023/12/31 | Loss contingency | Litigation | -84M USD | Medium |
| 2022/12/31 | Asset impairment | Impairment | -150M USD | Medium |
| 2022/12/31 | Business sale gain/loss | Asset sale gain/loss | 601M USD | Medium |
| 2021/12/31 | Asset impairment | Impairment | -54M USD | Medium |
| 2021/12/31 | Business sale gain/loss | Asset sale gain/loss | 349M USD | Medium |
| 2020/12/31 | Asset impairment | Impairment | -85M USD | Medium |
| 2020/12/31 | Loss contingency | Litigation | -14M USD | Medium |
| 2024/09/30 | Business sale gain/loss | Asset sale gain/loss | 2M USD | Medium |
| 2024/09/30 | Loss contingency | Litigation | -679K USD | Medium |
| 2024/06/30 | Business sale gain/loss | Asset sale gain/loss | 2M USD | Medium |
| 2024/06/30 | Loss contingency | Litigation | -1M USD | Medium |
| 2024/03/31 | Business sale gain/loss | Asset sale gain/loss | 2M USD | Medium |
Ad placement
Quarterly and annual financial table
Financial DetailsShowing latest 5 / 14
| Period | Type | Revenue | Net Income | Adjusted net income | Free Cash Flow | Diluted EPS | Adjusted EPS |
|---|---|---|---|---|---|---|---|
| 2025/12/31 | Annual | 5B USD | 2B USD | - | 1B USD | 14.21 | - |
| 2024/12/31 | Annual | 4B USD | 1B USD | 1B USD | -308M USD | 12.02 | 12.02 |
| 2023/12/31 | Annual | 3B USD | 831M USD | 901M USD | -785M USD | 7.74 | 8.4 |
| 2022/12/31 | Annual | 3B USD | -44M USD | -495M USD | -30M USD | -0.41 | -4.59 |
| 2021/12/31 | Annual | 3B USD | 469M USD | 174M USD | -303M USD | 4.38 | 1.62 |
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