First Solar (FSLR) EV to CFO (2009 - 2026)
First Solar's EV to CFO was 20.50 in Q3 2026, up 54.2% from 13.30 a year earlier and up 87.0% from the prior quarter.
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Analysis
First Solar (FSLR) EV to CFO (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, First Solar's EV to CFO was 12.15 through Sep 30, 2026, up 11.1% year-over-year; for FY2025, it was 12.24, down 12.7% from FY2024.
- In earlier years, EV to CFO was 14.02 in FY2024 (-48.2%), 27.07 in FY2023 (+76.6%), 15.33 in FY2022 (-51.1%) and 31.33 in FY2021 (-86.7%).
- The Q3 2026 figure marks the highest quarterly EV to CFO since Q2 2025.
- Compared with a year earlier, EV to CFO was higher in three of the last eight quarters, with growth averaging 10.9%.
- The best year-over-year quarter for EV to CFO over five years was Q3 2022 (growth of 411.6%); the worst was Q4 2021 (a decline of 86.7%).
- Per Business Quant data, FSLR's EV to CFO in the three quarters before Q3 2026 was 10.96 (Q2 2026), 7.66 (Q1 2026) and 12.24 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 20.50 |
| Jun 30, 2026 | 10.96 |
| Mar 31, 2026 | 7.66 |
| Dec 31, 2025 | 12.24 |
| Sep 30, 2025 | 13.30 |
| Jun 30, 2025 | 55.54 |
| Mar 31, 2025 | 37.01 |
| Dec 31, 2024 | 14.02 |
| Sep 30, 2024 | 26.27 |
| Jun 30, 2024 | 18.86 |
| Mar 31, 2024 | 17.77 |
| Dec 31, 2023 | 27.07 |
| Sep 30, 2023 | 18.46 |
| Jun 30, 2023 | 23.03 |
| Mar 31, 2023 | 21.44 |
| Dec 31, 2022 | 15.33 |
| Sep 30, 2022 | 108.09 |
| Jun 30, 2022 | 24.63 |
| Mar 31, 2022 | 23.01 |
| Dec 31, 2021 | 31.33 |
API Access
First Solar EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "FSLR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();