First Solar (FSLR) Ratios
First Solar Ratios
MX:FSLR's free cash flow for Q3 2026 was $-197.76M. For the 2026 fiscal year, MX:FSLR's free cash flow was decreased by $-154.81M and operating cash flow was $-42.95M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 2.67 | 2.45 | 3.55 | 3.65 | 4.39 |
| Quick Ratio | 2.20 | 1.80 | 2.77 | 2.90 | 3.26 |
| Cash Ratio | 1.24 | 0.78 | 1.49 | 1.43 | 2.00 |
| Solvency Ratio | 0.54 | 0.41 | 0.31 | 0.09 | 0.50 |
| Operating Cash Flow Ratio | 0.91 | 0.59 | 0.46 | 0.84 | 0.33 |
| Short-Term Operating Cash Flow Coverage | 9.52 | 5.15 | 6.26 | 0.00 | 60.98 |
| Net Current Asset Value | $ 2.25B | $ 942.25M | $ 957.15M | $ 1.38B | $ 1.74B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.04 | 0.06 | 0.06 | 0.03 | 0.05 |
| Debt-to-Equity Ratio | 0.05 | 0.09 | 0.09 | 0.04 | 0.07 |
| Debt-to-Capital Ratio | 0.05 | 0.08 | 0.09 | 0.04 | 0.06 |
| Long-Term Debt-to-Capital Ratio | 0.03 | 0.04 | 0.06 | 0.03 | 0.04 |
| Financial Leverage Ratio | 1.40 | 1.52 | 1.55 | 1.41 | 1.24 |
| Debt Service Coverage Ratio | 8.08 | 6.37 | 10.55 | 19.45 | 43.62 |
| Interest Coverage Ratio | 36.18 | 35.87 | 66.12 | -2.23 | 44.77 |
| Debt to Market Cap | 0.02 | 0.03 | 0.03 | 0.01 | 0.03 |
| Interest Debt Per Share | 5.06 | 7.08 | 5.97 | 2.31 | 3.87 |
| Net Debt to EBITDA | -1.07 | -0.48 | -1.09 | -4.29 | -1.24 |
| Profitability Margins | |||||
| Gross Profit Margin | 40.62% | 44.17% | 39.19% | 2.67% | 24.97% |
| EBIT Margin | 31.13% | 34.36% | 27.25% | 0.79% | 20.02% |
| EBITDA Margin | 41.27% | 44.43% | 36.53% | 11.09% | 28.91% |
| Operating Profit Margin | 30.59% | 33.15% | 25.83% | -1.04% | 20.07% |
| Pretax Profit Margin | 30.29% | 33.43% | 26.86% | 0.33% | 19.57% |
| Net Profit Margin | 29.28% | 30.72% | 25.03% | -1.69% | 16.03% |
| Continuous Operations Profit Margin | 29.28% | 30.72% | 25.03% | -1.69% | 16.03% |
| Net Income Per EBT | 96.67% | 91.87% | 93.21% | -513.68% | 81.92% |
| EBT Per EBIT | 99.00% | 100.85% | 103.97% | -31.57% | 97.51% |
| Return on Assets (ROA) | 11.47% | 10.66% | 8.02% | -0.54% | 6.32% |
| Return on Equity (ROE) | 16.02% | 16.20% | 12.42% | -0.76% | 7.86% |
| Return on Capital Employed (ROCE) | 14.43% | 13.88% | 9.46% | -0.38% | 8.77% |
| Return on Invested Capital (ROIC) | 13.68% | 12.44% | 8.72% | 1.94% | 7.17% |
| Return on Tangible Assets | 11.54% | 10.73% | 8.09% | -0.54% | 6.37% |
| Earnings Yield | 5.46% | 6.85% | 4.52% | -0.28% | 5.06% |
| Efficiency Ratios | |||||
| Receivables Turnover | 2.69 | 2.33 | 2.36 | 7.95 | 6.43 |
| Payables Turnover | 7.64 | 4.87 | 9.74 | 7.47 | 11.34 |
| Inventory Turnover | 2.89 | 1.74 | 1.99 | 3.25 | 2.68 |
| Fixed Asset Turnover | 0.92 | 0.76 | 0.74 | 0.72 | 0.95 |
| Asset Turnover | 0.39 | 0.35 | 0.32 | 0.32 | 0.39 |
| Working Capital Turnover Ratio | 1.54 | 1.33 | 1.09 | 1.00 | 1.26 |
| Cash Conversion Cycle | 214.21 | 291.59 | 300.41 | 109.19 | 160.95 |
| Days of Sales Outstanding | 135.63 | 156.95 | 154.82 | 45.93 | 56.77 |
| Days of Inventory Outstanding | 126.37 | 209.59 | 183.07 | 112.14 | 136.35 |
| Days of Payables Outstanding | 47.79 | 74.94 | 37.47 | 48.88 | 32.18 |
| Operating Cycle | 262.00 | 366.54 | 337.89 | 158.07 | 193.13 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 19.18 | 11.38 | 5.64 | 8.20 | 2.24 |
| Free Cash Flow Per Share | 11.07 | -2.88 | -7.35 | -0.28 | -2.85 |
| Dividend Paid and CapEx Coverage Ratio | 2.36 | 0.80 | 0.43 | 0.97 | 0.44 |
| Capital Expenditure Coverage Ratio | 2.36 | 0.80 | 0.43 | 0.97 | 0.44 |
| Operating Cash Flow Coverage Ratio | 4.13 | 1.69 | 0.96 | 3.73 | 0.60 |
| Operating Cash Flow to Sales Ratio | 0.39 | 0.29 | 0.18 | 0.33 | 0.08 |
| Free Cash Flow Yield | 4.24% | -1.63% | -4.26% | -0.19% | -3.27% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 18.33 | 14.60 | 22.15 | -361.37 | 19.76 |
| Price-to-Sales (P/S) Ratio | 5.37 | 4.48 | 5.54 | 6.09 | 3.17 |
| Price-to-Book (P/B) Ratio | 2.94 | 2.36 | 2.75 | 2.73 | 1.55 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 23.60 | -61.22 | -23.45 | -527.86 | -30.59 |
| Price-to-Operating Cash Flow Ratio | 13.62 | 15.48 | 30.55 | 18.27 | 38.99 |
| Price-to-Earnings Growth (PEG) Ratio | 1.01 | 0.26 | -0.01 | 3.31 | 1.14 |
| Enterprise Value Multiple | 11.93 | 9.61 | 14.09 | 50.64 | 9.71 |
| Enterprise Value | 25.71B | 17.96B | 17.08B | 14.71B | 8.21B |
| EV to EBITDA | 11.93 | 9.61 | 14.09 | 50.64 | 9.71 |
| EV to Sales | 4.93 | 4.27 | 5.15 | 5.62 | 2.81 |
| EV to Free Cash Flow | 21.65 | -58.29 | -21.77 | -486.61 | -27.12 |
| EV to Operating Cash Flow | 12.50 | 14.74 | 28.35 | 16.85 | 34.56 |
| Tangible Book Value Per Share | 88.18 | 73.77 | 61.74 | 54.34 | 55.52 |
| Shareholders’ Equity Per Share | 88.94 | 74.55 | 62.62 | 54.77 | 56.08 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.03 | 0.08 | 0.07 | 6.14 | 0.18 |
| Revenue Per Share | 48.67 | 39.31 | 31.07 | 24.58 | 27.51 |
| Net Income Per Share | 14.25 | 12.07 | 7.78 | -0.41 | 4.41 |
| Tax Burden | 0.97 | 0.92 | 0.93 | -5.14 | 0.82 |
| Interest Burden | 0.97 | 0.97 | 0.99 | 0.41 | 0.98 |
| Research & Development to Revenue | 0.04 | 0.05 | 0.05 | 0.04 | 0.03 |
| SG&A to Revenue | 0.04 | 0.04 | 0.00 | 0.00 | 0.00 |
| Stock-Based Compensation to Revenue | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| Income Quality | 1.35 | 0.94 | 0.72 | -19.77 | 0.51 |
Currency in USD