First Solar (FSLR) valuation
First Solar P/E ratio history
First Solar trades at 10.1 times its earnings over the last twelve months and 8.0 times the earnings analysts expect over the next twelve. At its last 6 fiscal year ends its P/E ranged from 14.7 (year to Dec 2024) to 31.2 (year to Dec 2018), with a median of 21.1.
| Fiscal year ended | Price | EPS | P/E |
|---|---|---|---|
| Dec 31, 2025 | $261.23 | $14.21 | 18.4 |
| Dec 31, 2024 | $176.24 | $12.02 | 14.7 |
| Dec 31, 2023 | $172.28 | $7.74 | 22.3 |
| Dec 31, 2022 | $149.79 | -$0.41 | n/m |
| Dec 31, 2021 | $87.16 | $4.38 | 19.9 |
| Dec 31, 2020 | $98.92 | $3.73 | 26.5 |
| Dec 31, 2019 | $55.96 | -$1.09 | n/m |
| Dec 31, 2018 | $42.45 | $1.36 | 31.2 |
| Dec 31, 2017 | $67.52 | -$1.59 | n/m |
| Dec 31, 2016 | $32.09 | -$4.05 | n/m |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
First Solar valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| First SolarFSLR | $18.7B | 10.1 | 8.0 | 3.7 |
| Skyworks SolutionsSWKS | $13.2B | 45.1 | 15.6 | 3.3 |
| ON SemiconductorON | $28.1B | 47.5 | 18.4 | 4.5 |
| Credo TechnologyCRDO | $28.2B | 53.2 | 21.0 | 17.7 |
| Microchip TechnologyMCHP | $41.9B | 113.7 | 19.9 | 8.2 |
| Astera LabsALAB | $44.3B | 128.1 | 49.6 | 36.9 |
| Monolithic Power SystemsMPWR | $59.5B | 74.0 | 30.8 | 18.2 |
| NXP SemiconductorsNXPI | $65.5B | 20.4 | 14.8 | 4.7 |
| Enphase EnergyENPH | $3.39B | 38.3 | 17.2 | 2.8 |
| Peer median | 50.3 | 19.1 | 6.5 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: FSLR financials · FSLR returns
No forecast, no recommendation. This page describes First Solar from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.