First Solar (FSLR) AI Stock Analysis

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First Solar

(Six Swiss:FSLR)

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Positive Factors

Contracted backlogThe large multi-year backlog provides meaningful visibility into future module shipments and revenue, reducing reliance on immediate spot-market demand. Deliveries extending through 2030 also support capacity planning and reinforce First Solar’s position with utility-scale customers.

Negative Factors

Lowered growth outlookLowered volume, revenue and adjusted EBITDA guidance indicates that near-term demand and delivery timing are weaker than previously expected. A slower growth cadence could reduce operating leverage and make future earnings more dependent on execution and customer commitments.

First Solar (FSLR) vs. iShares MSCI Switzerland ETF (EWL)

Market Cap: CHF 19.14B
Dividend Yield: ―
Average Volume (3M): 20
Price to Earnings (P/E): 10.3
Beta (1Y): -0.05
Revenue Growth: -6.40%
EPS Growth: 25.56%
Country: Switzerland
Employees: 7,900
Sector: Technology
Sector Strength: 61
Industry: Solar

First Solar Business Overview & Revenue Model

Company Description

First Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company's primary activity involves the engi...

First Solar Earnings Call Summary

Earnings Call Date:Oct 29, 2026(Q3-2026)|% Change Since:1.80%|Next Earnings Date:Mar 02, 2027

Earnings Call SentimentPositive

The call was generally positive, supported by strong third-quarter profitability, a 44-gigawatt contracted backlog, higher gross margins, U.S. manufacturing expansion, CuRe and perovskite technology progress, and a new $500 million share repurchase authorization. However, the company also reported a 23% year-over-year sales decline, lowered 2026 volume, revenue and adjusted EBITDA guidance, moderated bookings, significant customer and policy uncertainty, and unresolved decisions regarding Malaysia and litigation. The positive operating results and strategic positioning outweighed the stated challenges.

Positive Updates

Strong Third-Quarter Profitability

First Solar generated approximately $1.2 billion in third-quarter net sales, expanded gross margin to approximately 58%, and delivered adjusted EBITDA of $744 million. Adjusted EBITDA was near the upper end of the previously communicated Q3 preview range, with an adjusted EBITDA margin of approximately 60%.

Negative Updates

Year-Over-Year Net Sales Decline

Third-quarter net sales of approximately $1.2 billion decreased approximately 23% year-over-year, primarily due to lower module volumes sold to third parties compared with the prior-year period.

Company Guidance

Guidance calls for the first Series 7 CuRe conversion in India to begin in the first quarter of 2027, with India's finished goods production in 2027 expected to range from 2.2 gigawatts to 2.6 gigawatts; South Carolina's second finishing phase is expected to reach commercial launch in mid-2027, with the 2 phases expected to result in 2027 South Carolina production of 2.2 to 2.5 gigawatts; the Ohio perovskite pilot line remains on track to reach operational readiness in the first half of 2027; Malaysia is expected to operate at full or near full capacity of 1.8 gigawatt annually or shut down, with a decision expected in the first half of 2027; full year 2026 guidance reflects a lower range of India domestic, international Series 6 and U.S. finishing volumes sold, with an associated reduction in revenue and adjusted EBITDA, including a reduction of approximately 0.7 gigawatts in the India domestic volume sold forecast, while the forecast range for fully domestic products sold remains unchanged; full year perovskite-related spend, originally forecasted approximately $100 million, is now expected to total approximately $120 million; total 2026 operating expense guidance and Net cash guidance remain unchanged; and the company has authorized a share repurchase program of up to $500 million.

First Solar Risk Analysis

First Solar disclosed 34 risk factors in its most recent earnings report. First Solar reported the most risks in the "Legal & Regulatory" category.

Legal & Regulatory - Litigation, compliance, new legislation, and taxation risks

Latest Risks Added

0 New Risks

First Solar Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

CH:FSLR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARRY	67Neutral	$729.69M	-4.53	-70.85%	―	-15.87%	-87.66%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SHLS	58Neutral	$1.37B	38.82	6.16%	―	49.21%	13.12%
JKS	44Neutral	$506.11M	-0.31	-18.67%	27.42%	-15.19%	15.25%
SEDG	43Neutral	$1.60B	-7.00	-54.65%	―	26.11%	60.72%
CSIQ	33Underperform	$688.47M	-3.70	-6.62%	―	-15.70%	-2559.44%

* Technology Sector Average

Performance Comparison

CH:FSLR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
CH:FSLR	First Solar	149.02	-40.98	-21.57%
CSIQ	Canadian Solar	10.17	-18.45	-64.47%
JKS	Jinkosolar	10.14	-14.17	-58.30%
SEDG	SolarEdge Technologies Inc.	26.67	-9.75	-26.77%
ARRY	Array Technologies Inc	5.20	-2.40	-31.58%
SHLS	Shoals Technologies Group, Inc.	8.80	0.72	8.91%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

First Solar AI Stock Analysis