ALTSTATION.IO
First Solar, Inc. (FSLR) Stock Analysis
By Nova Skye | AltStation.io | Updated October 30, 2026
Company Overview
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon
Key Financials
Market Cap
$18.69B
Revenue
$5.38B
EBITDA
$2.39B
Gross Margin
44.0%
Profit Margin
32.5%
Revenue Growth
-3.7%
Total Cash
$1.73B
Total Debt
$194.01M
Free Cash Flow
$1.60B
52-Week Price Performance Analysis
Price Statistics
P/E Ratio
10.72
Forward P/E
7.40
Beta
1.79
52-Week High
$320.95
52-Week Low
$165.86
EPS
$16.22
50-Day Avg
$191.29
200-Day Avg
$216.86
Price/Book
1.81
Technical Analysis
FSLR trades at $173.95, just 7% of the way from its 52-week low of $165.86 to its 52-week high of $320.95. The stock is 44.89% below that high and only 6.65% above the low, so the broader trend remains damaged. Price is 0.34% versus the 20-day moving average of $176.29, while five-day and 20-day momentum are positive at 3.29% and 2.78%. Near-term support sits at the 30-day low of $168.15. Resistance is the 30-day high of $200.78, leaving a wide gap before the chart starts to look meaningfully stronger.
Recent News and Developments
First Solar beats on profit but cuts 2026 sales guidance
Third-quarter net sales fell 23% year over year to $1.23 billion, while diluted EPS rose 25% to $5.30 and adjusted EBITDA increased 11% to $744 million. First Solar cut its 2026 sales outlook to $4.6 billion-$4.9 billion from $4.9 billion-$5.2 billion and reduced expected volume sold to 16.0-17.0 GW. Source: Nasdaq
First Solar authorizes $500 million buyback
First Solar’s board approved a share-repurchase program of up to $500 million, effective immediately and without an expiration date. The authorization is substantial, but management is not obligated to repurchase any specific amount. Source: Nasdaq
First Solar licenses CubicPV perovskite patents
First Solar signed a non-exclusive agreement covering CubicPV’s issued and pending U.S. patents for perovskite solar technology. The license supports development of perovskite-based photovoltaic products for utility-scale, commercial, industrial and residential markets in the United States; financial terms were not disclosed. Source: The Fly via TipRanks
Market Sentiment and Analyst Recommendations
Bull Case
FSLR looks inexpensive at 10.72 times earnings, especially against the analyst target of $274.24. That target represents substantial upside from the current $173.95 price, while even the lowest analyst target of $191.00 is above the stock. The balance sheet is strong, with $1.73 billion in cash against only $194.01 million in debt. Third-quarter diluted EPS rose 25% to $5.30, and adjusted EBITDA increased 11% to $744 million despite weaker sales. The newly authorized $500 million share-repurchase program gives management a way to exploit the depressed valuation, although no purchases are guaranteed. The CubicPV patent license also expands First Solar’s technology position into perovskite products across utility-scale, commercial, industrial, and residential markets. With 30 analysts rating the stock a buy, the bullish case is straightforward: low valuation, net cash, improving profit metrics, and a share price sitting close to its 52-week low.
Bear Case
Revenue growth is already negative at 3.7%, and third-quarter net sales fell 23% year over year to $1.23 billion. Management cut its 2026 sales outlook from $4.9 billion-$5.2 billion to $4.6 billion-$4.9 billion. Expected volume sold was also reduced to 16.0-17.0 GW, pointing to weaker operating expectations. Wells Fargo flagged soft bookings and cut its price target from $313 to $260 after the earnings report, even while keeping an Overweight rating. The chart confirms that investors are worried: FSLR is 44.89% below its 52-week high and only 6.65% above its low. The stock traded at $170.16 before the October 30 open, down 3.80% from its October 29 close of $176.89. A 10.72 P/E is cheap only if earnings hold up; falling sales, softer bookings, and reduced guidance could make that valuation less attractive than it appears.
What to Watch
The first test is whether FSLR can hold the $168.15 near-term support level and stay above the 52-week low of $165.86. A break below those levels would confirm that the post-earnings selling has not run its course. On the upside, watch for a move through the 20-day moving average of $176.29, followed by the $200.78 near-term resistance level. Investors should track whether 2026 sales remain within the revised $4.6 billion-$4.9 billion range and whether expected volume holds at 16.0-17.0 GW. Bookings matter because Wells Fargo specifically identified softness there when cutting its target to $260. The next quarter also needs to show whether the 25% EPS increase and 11% adjusted EBITDA growth can continue while revenue is falling. Actual purchases under the $500 million authorization and any disclosed commercial progress from the CubicPV license would strengthen the bull case.
Analyst Consensus
BUY
Based on 30 analyst opinions
Low Target
$191.00
Mean Target
$274.24
High Target
$402.00
Earnings and Financial Data
Sector
Technology
Industry
Solar
Employees
7,900
Earnings & Dividends
Next Earnings
Oct 29, 2026
EPS (Trailing)
$16.22
Dividend Yield
None
Payout Ratio
0%
Frequently Asked Questions
Is FSLR a good stock to buy?
Thirty analysts give FSLR a buy recommendation, and the stock trades at a P/E of 10.72. Revenue growth is negative 3.7%, so the clear takeaway is that FSLR offers value but carries real operating risk.
What is FSLR’s price target?
The analyst target is $274.24, with estimates ranging from $191.00 to $402.00. The clear takeaway is that every listed target is above the current $173.95 price.
Is FSLR stock undervalued?
FSLR trades at 10.72 times earnings and sits 44.89% below its 52-week high. The clear takeaway is that the valuation and price decline suggest potential value, but the provided data does not establish intrinsic value.
What are FSLR’s support and resistance levels?
Near-term support is $168.15, and near-term resistance is $200.78. The clear takeaway is that those are the key levels for judging the stock’s next move.
Does First Solar have a strong balance sheet?
First Solar has $1.73 billion in total cash and $194.01 million in total debt. The clear takeaway is that cash substantially exceeds debt.
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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated October 30, 2026.