FSLR NASDAQ
First Solar, Inc.
1W: -2.1%
1M: -5.4%
3M: -17.0%
YTD: -38.7%
1Y: -26.6%
3Y: +10.7%
5Y: +60.5%
$175.85
+7.70 (+4.58%)
After Hours: $175.26 (-0.59, -0.34%)
Weekly Expected Move ±4.4%
$157
$164
$172
$180
$187
Credit Risk of going bust: lower than 85% of companies Debt: 1.1% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.08 (down more than 99.9%), First Solar, Inc. would be worth roughly what it owes.
Total debt $194.0M against a stock market value of $18.07B.
Distance to default 11.17 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $37.6M (short-term plus half of long-term), stock volatility 54.4%; Altman Z 5.47. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $0.08 (down more than 99.9%), First Solar, Inc. would be worth roughly what it owes.
Total debt $194.0M against a stock market value of $18.07B.
Distance to default 11.17 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $37.6M (short-term plus half of long-term), stock volatility 54.4%; Altman Z 5.47. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Income Statement
Cash Flow
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Cash Flow Trends
Operating Cash Flow
$2.1B
+68.9% ▲
5Y CAGR: +123.2%
Capital Expenditures
$870M
+43.0% ▲
5Y CAGR: +15.9%
Free Cash Flow
$1.2B
+485.4% ▲
Dividends Paid
$0
+0.0% ▲
Buybacks
$16M
+23.1% ▲
Net Change in Cash
$1.2B
+459.7% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $469M | -$44M | $831M | $1.3B | $1.5B |
| Depreciation & Amort. | $260M | $270M | $308M | $423M | $529M |
| Stock-Based Comp. | $21M | $29M | $34M | $28M | $19M |
| Change in Working Capital | -$337M | $999M | -$527M | -$483M | $128M |
| Other Non-Cash Items | -$225M | -$367M | $17M | $12M | -$173M |
| Operating Cash Flow | $238M | $873M | $602M | $1.2B | $2.1B |
| — Investing Activities — | |||||
| Capital Expenditures | -$540M | -$904M | -$1.4B | -$1.5B | -$870M |
| Acquisitions (Net) | $300M | $442M | -$28M | $0 | $0 |
| Investment Purchases | -$2.1B | -$3.4B | -$3.6B | -$2.5B | -$1.5B |
| Investment Sales | $2.3B | $2.6B | $4.6B | $2.5B | $1.7B |
| Other Investing | -$7M | -$3M | -$9M | -$13M | -$8M |
| Investing Cash Flow | -$99M | -$1.2B | -$473M | -$1.6B | -$765M |
| — Financing Activities — | |||||
| Net Debt Issuance | $57M | $321M | $368M | $53M | -$103M |
| Stock Repurchased | -$16M | -$12M | -$31M | -$20M | -$16M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | $0 | $0 | $0 | -$8M | -$810K |
| Financing Cash Flow | $41M | $309M | $337M | $25M | -$119M |
| Net Change in Cash | $182M | $38M | $472M | -$327M | $1.2B |
| Cash End of Period | $1.5B | $1.5B | $2.0B | $1.6B | $2.8B |
| Free Cash Flow | -$303M | -$30M | -$785M | -$308M | $1.2B |