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Sunday 11 October 2026 Export all FSLR data to Excel Powerpack

First Solar, Inc.

FSLR Technology Solar

First Solar, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.2 billion, up 24.1% from fiscal 2024. In the quarter to June 2026, revenue fell 3.73%, EPS grew 23.2%, free cash flow fell 121.0% and total debt fell 93.5%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years.

177.82 1.03 −0.58%
Market cap
$19.2B
P/E
10.9×
Fwd P/E
16.0×
Dividend yield
—
F-score
7/9
Altman Z
6.28
Beneish M
−2.54
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

First Solar, Inc. (FSLR) P/B ratio

Alert me on P/B ratio

As of 9 October 2026, First Solar, Inc. (FSLR) trades at a P/B ratio of 1.9×. Over the past ten years it has ranged from 0.5× (November 2016) to 4.7× (June 2024); the current reading is higher than 64% of that period. That is above the Solar industry median of 1.2× and below the Technology sector median of 2.9×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 2.9× 24.23%
FY2024 2.4× (14.01%)
FY2023 2.7× 3.18%
FY2022 2.7× 71.45%
FY2021 1.6× (18.07%)
FY2020 1.9× 64.04%
FY2019 1.2× 35.53%
FY2018 0.9× (40.80%)
FY2017 1.4× 117.95%
FY2016 0.7× (44.90%)

Quarterly newest first

Period P/B ratio Change
Jun 2026 2.5× 14.61%
Mar 2026 2.1× (27.01%)
Dec 2025 2.9× 11.93%
Sep 2025 2.6× 26.31%
42 more quarters

Against its own ten years

Low 0.5× High 4.7×
Ten-year median 1.4×
Current reading's percentile 60

P/B ratio against peers

Company P/B ratio
ARRY Array Technologies, Inc. compare n/m
DQ DAQO New Energy Corp. compare 0.0×
JKS JinkoSolar Holding Company Limited compare 0.1×
RUN Sunrun Inc. compare 0.4×
FSLR First Solar, Inc. 1.9×
SHLS Shoals Technologies Group, Inc. compare 2.4×
ENPH Enphase Energy, Inc. compare 3.7×
SEDG SolarEdge Technologies, Inc. compare 4.8×
NXT Nextpower Inc. compare 5.1×
Solar industry median 1.2×
Technology sector median 2.9×
Market median 1.8×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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