Projected Income Statement: First Solar, Inc.

Forecast Balance Sheet: First Solar, Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 -1,693 -1,468 -1,586 -2,394 -1,542 -631 -1,671 -3,785
Change - -186.71% -208.04% -250.95% -164.41% -140.92% -364.82% -326.51%
Announcement Date 2/20/20 2/25/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million
Estimates

Cash Flow Forecast: First Solar, Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 668.7 416.6 540.3 903.6 1,387 1,660 1,275 1,065
Change - -37.7% 29.68% 67.24% 53.47% 19.72% -23.2% -16.5%
Free Cash Flow (FCF) 1 -494.5 -379.5 -302.7 -30.24 -784.5 -960.8 1,072 1,658
Change - -23.26% -20.23% -90.01% 2,494.64% 22.47% -211.6% 54.59%
Announcement Date 2/20/20 2/25/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million
Estimates

Forecast Financial Ratios: First Solar, Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 13.28% 20.52% 23.92% 9.26% 36.19% 45.52% 53.1% 60.17%
EBIT Margin (%) 6.57% 11.93% 15.03% -1.04% 26.9% 35.6% 44.41% 51.85%
EBT Margin (%) -3.92% 10.81% 19.57% 0.33% 26.86% 36.61% 44.77% 51.21%
Net margin (%) -3.75% 14.69% 16.03% -1.69% 25.03% 33.52% 40.6% 46.69%
FCF margin (%) -16.14% -14% -10.36% -1.15% -23.64% -22.69% 19.38% 24.93%
FCF / Net Income (%) 430.26% -95.27% -64.59% 68.46% -94.43% -67.7% 47.73% 53.39%

Profitability

        
ROA 2.15% 5.45% 4.79% -0.56% 8.93% 13% 17.31% 19.28%
ROE 3.05% 7.5% 6.06% -0.75% 13.27% 18.57% 23.83% 25.52%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 21.83% 15.37% 18.48% 34.5% 41.79% 39.21% 23.04% 16.02%
CAPEX / EBITDA (%) 164.43% 74.88% 77.25% 372.64% 115.48% 86.15% 43.39% 26.61%
CAPEX / FCF (%) -135.23% -109.78% -178.47% -2,988.51% -176.77% -172.8% 118.92% 64.24%

Items per share

        
Cash flow per share 1 1.654 0.3479 2.222 8.197 5.609 12.64 24.55 33.59
Change - -78.97% 538.56% 268.92% -31.57% 125.43% 94.13% 36.85%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 48.33 52.36 56.05 54.74 62.59 76.32 96.56 124.2
Change - 8.32% 7.05% -2.33% 14.33% 21.94% 26.52% 28.66%
EPS 1 -1.09 3.73 4.38 -0.41 7.74 13.2 20.82 28.66
Change - -442.2% 17.43% -109.36% -1,987.8% 70.52% 57.77% 37.66%
Nbr of stocks (in thousands) 105,407 105,976 106,327 106,606 106,844 107,058 107,058 107,058
Announcement Date 2/20/20 2/25/21 3/1/22 2/28/23 2/27/24 - - -
1USD
Estimates
2024 *2025 *
P/E ratio 12.7x 8.05x
PBR 2.2x 1.74x
EV / Sales 4.09x 2.94x
Yield - -
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
AA
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
40
Last Close Price
167.67USD
Average target price
267.53USD
Spread / Average Target
+59.56%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. FSLR Stock
  4. Financials First Solar, Inc.