First Solar (FSLR) EV to EBITDA (2014 - 2026)
First Solar's EV to EBITDA came in at 6.93 for Q3 2026, down 35.5% from 10.76 a year earlier and down 30.0% from the prior quarter.
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Analysis
First Solar (FSLR) EV to EBITDA (2014 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, First Solar reported EV to EBITDA of 4.11, down 53.6% year-over-year; for FY2025, it was 11.84, up 26.1% from FY2024.
- Going back by year, EV to EBITDA was 9.39 in FY2024 (-32.9%), 13.99 in FY2023 (-74.7%), 55.22 in FY2022 (+528.3%) and 8.79 in FY2021 (-44.6%).
- The Q3 2026 figure represents the lowest quarterly EV to EBITDA since Q1 2025.
- Year-over-year, EV to EBITDA increased in three of the last eight quarters, with an average decline of 14.2%.
- The fastest year-over-year change in EV to EBITDA over five years came in Q4 2022 (growth of 528.3%), and the weakest in Q1 2024 (a decline of 82.5%).
- Business Quant data shows FSLR's EV to EBITDA at 9.90 (Q2 2026), 8.26 (Q1 2026) and 11.84 (Q4 2025) in the three quarters before Q3 2026.
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 | 6.93 |
| Jun 30, 2026 | 9.90 |
| Mar 31, 2026 | 8.26 |
| Dec 31, 2025 | 11.84 |
| Sep 30, 2025 | 10.76 |
| Jun 30, 2025 | 9.00 |
| Mar 31, 2025 | 6.92 |
| Dec 31, 2024 | 9.39 |
| Sep 30, 2024 | 14.75 |
| Jun 30, 2024 | 13.64 |
| Mar 31, 2024 | 11.39 |
| Dec 31, 2023 | 13.99 |
| Sep 30, 2023 | 21.98 |
| Jun 30, 2023 | 52.52 |
| Mar 31, 2023 | 65.11 |
| Dec 31, 2022 | 55.22 |
| Sep 30, 2022 | 26.68 |
| Jun 30, 2022 | 12.41 |
| Mar 31, 2022 | 16.16 |
| Dec 31, 2021 | 8.79 |
API Access
First Solar EV to EBITDA 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-ebitda&ticker=FSLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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-ebitda&ticker=FSLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();