First Solar, Inc. (FSLR)

First Solar Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jan 27, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	25,223	18,868	18,407	15,968	9,267	10,483
Market Cap Growth	24.50%	2.50%	15.27%	72.31%	-11.60%	77.72%
Enterprise Value	24,075	18,292	17,128	14,354	7,812	9,313
Last Close Price	235.05	176.24	172.28	149.79	87.16	98.92
PE Ratio	18.04	14.60	22.16	-	19.77	26.32
Forward PE	10.73	9.14	14.89	44.67	37.54	26.98
PS Ratio	4.99	4.49	5.55	6.10	3.17	3.87
PB Ratio	2.80	2.37	2.75	2.74	1.56	1.90
P/TBV Ratio	2.82	2.39	2.79	2.76	1.57	1.92
P/FCF Ratio	41.04	-	-	-	-	-
P/OCF Ratio	15.51	15.49	30.56	18.28	39.01	282.41
PEG Ratio	0.34	0.28	0.40	2.56	4.75	1.97
EV/Sales Ratio	4.77	4.35	5.16	5.48	2.67	3.44
EV/EBITDA Ratio	11.93	10.07	14.35	-	11.17	16.23
EV/EBIT Ratio	15.99	13.13	19.33	-	17.78	27.32
EV/FCF Ratio	39.18	-	-	-	-	-
Debt / Equity Ratio	0.10	0.09	0.09	0.04	0.07	0.09
Debt / EBITDA Ratio	0.44	0.39	0.52	36.20	0.55	0.81
Debt / FCF Ratio	1.45	-	-	-	-	-
Asset Turnover	0.41	0.37	0.36	0.33	0.40	0.37
Inventory Turnover	2.15	2.07	2.37	3.37	3.04	3.46
Quick Ratio	1.38	1.72	2.67	2.80	3.14	2.41
Current Ratio	1.91	2.45	3.55	3.65	4.39	3.56
Return on Equity (ROE)	16.86%	17.62%	13.27%	-0.75%	8.16%	7.50%
Return on Assets (ROA)	7.56%	7.75%	5.95%	-2.24%	3.78%	2.91%
Return on Invested Capital (ROIC)	17.50%	21.14%	18.98%	35.94%	8.19%	8.75%
Return on Capital Employed (ROCE)	14.50%	13.90%	9.80%	-3.90%	6.60%	5.40%
Earnings Yield	5.55%	6.85%	4.51%	-0.28%	5.06%	3.80%
FCF Yield	2.44%	-1.63%	-4.26%	-0.19%	-3.27%	-3.62%
Buyback Yield / Dilution	0.00%	-0.14%	-0.77%	0.35%	-0.22%	-1.31%

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q