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 18,745 - -
Change - 72.31% 15.27% 2.5% 48.57% -33.13% - -
Enterprise Value (EV) 1 7,681 13,575 16,865 17,685 25,675 16,621 14,319 11,563
Change - 76.73% 24.24% 4.86% 45.18% -35.26% -13.85% -19.24%
P/E 19.9x -365x 22.3x 14.7x 18.4x 10.1x 7.58x 6.23x
PBR 1.56x 2.74x 2.75x 2.37x 2.94x 1.64x 1.36x 1.11x
PEG - 3x -0x 0.3x 1x 0.5x 0.2x 0.3x
Capitalization / Revenue 3.17x 6.1x 5.55x 4.49x 5.37x 3.87x 3.15x 2.87x
EV / Revenue 2.63x 5.18x 5.08x 4.2x 4.92x 3.43x 2.41x 1.77x
EV / EBITDA 11x 56x 14x 9.73x 12.1x 6.3x 4.51x 3.03x
EV / EBIT 17.5x -498x 18.9x 12.7x 16.1x 8.78x 5.7x 3.49x
EV / FCF -25.4x -449x -21.5x -57.4x 21.6x -110x 6.72x 3.99x
FCF Yield -3.94% -0.22% -4.65% -1.74% 4.62% -0.91% 14.9% 25.1%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 4.38 -0.41 7.74 12.02 14.21 17.27 23.01 28.01
Distribution rate - - - - - - - -
Net sales 1 2,923 2,619 3,319 4,206 5,219 4,843 5,946 6,527
EBITDA 1 699.4 242.5 1,201 1,818 2,126 2,637 3,177 3,812
EBIT 1 439.5 -27.24 892.9 1,394 1,597 1,894 2,511 3,314
Net income 1 468.7 -44.17 830.8 1,292 1,528 1,862 2,423 2,967
Net Debt 1 -1,586 -2,394 -1,542 -1,183 -2,357 -2,123 -4,426 -7,182
Reference price 2 87.16 149.79 172.28 176.24 261.23 174.40 174.40 174.40
Nbr of stocks (in thousands) 106,327 106,606 106,844 107,058 107,308 107,481 - -
Announcement Date 3/1/22 A 2/28/23 A 2/27/24 A 2/25/25 A 2/24/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
Average
Weighted average by Cap.

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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