First Solar (FSLR) EV to FCF (2009 - 2026)
First Solar's (FSLR) quarterly EV to FCF came in at 92.62 in Q2 2026, up 89.51% on a YoY basis from 48.87 in Q2 2025, and down 89.71% quarter-over-quarter from 48.82 in Q1 2026.
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First Solar (FSLR) EV to FCF (2009 - 2026) Analysis & Trends
First Solar (FSLR) has reported EV to FCF for 18 consecutive years, with 92.62 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, EV to FCF rose 89.51% year-over-year to 92.62; the trailing twelve-month figure through Jun 2026 stood at 15.75 (up 189.46% YoY), and the FY2025 full-year result was 21.21, up 138.26% from the prior year.
- EV to FCF slipped to 92.62 in Q2 2026 per FSLR's latest filing, from 48.82 in the prior quarter.
- Across five years, EV to FCF topped out at 76.12 in Q4 2023 and bottomed at 882.69 in Q2 2025.
- Historically, EV to FCF has averaged 89.72 across 5 years, with a median of 50.49 in 2024.
- The sharpest annual moves came in 2023 and 2025: EV to FCF surged 166.22% in 2023, then sank 450.41% in 2025.
- Over 5 years, EV to FCF stood at 28.59 in 2022, then soared by 166.22% to 76.12 in 2023, then slumped by 54.91% to 34.33 in 2024, then tumbled by 31.46% to 23.53 in 2025, then tumbled by 493.68% to 92.62 in 2026.
- According to Business Quant data, EV to FCF over the past three periods registered 92.62, 48.82, and 23.53 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | First Solar | 21.97 Bn | 20.25 Bn | 605.00 Mn |
| 2 | Nextpower | 12.81 Bn | 11.60 Bn | 335.85 Mn |
| 3 | Enphase Energy | 4.81 Bn | 3.87 Bn | 175.01 Mn |
| 4 | Solaredge Technologies | 2.10 Bn | 1.52 Bn | 95.15 Mn |
| 5 | T1 Energy | 1.29 Bn | 1.14 Bn | 49.10 Mn |
| 6 | Shoals Technologies | 1.20 Bn | 1.18 Bn | 49.53 Mn |
| 7 | Canadian Solar | 896.45 Mn | 597.20 Mn | 168.48 Mn |
| 8 | Array Technologies | 708.44 Mn | 401.13 Mn | 99.60 Mn |
| 9 | JinkoSolar Holding | 627.24 Mn | -480.04 Mn | 75.62 Mn |
| 10 | Toyo | 133.94 Mn | 23.90 Mn | 36.97 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -92.62 |
| Mar 31, 2026 | -48.82 |
| Dec 31, 2025 | 23.53 |
| Sep 30, 2025 | 20.22 |
| Jun 30, 2025 | -882.69 |
| Mar 31, 2025 | -13.57 |
| Dec 31, 2024 | 34.33 |
| Sep 30, 2024 | -52.16 |
| Jun 30, 2024 | -160.37 |
| Mar 31, 2024 | -90.21 |
| Dec 31, 2023 | 76.12 |
| Sep 30, 2023 | -127.86 |
| Jun 30, 2023 | -39.00 |
| Mar 31, 2023 | -57.26 |
| Dec 31, 2022 | 28.59 |
| Sep 30, 2022 | -137.23 |
| Jun 30, 2022 | -65.53 |
| Mar 31, 2022 | -30.34 |
| Dec 31, 2021 | -46.39 |
| Sep 30, 2021 | 62.37 |