First Solar, Inc.
FSLRActiveCIK 1274494 · Renewables, RNG & Sustainability Infrastructure
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, FSLR filings, SEC EDGAR
$23,634
Market cap ($MM)
$21,697
Enterprise value ($MM)
$5,419
Revenue · LTM ($MM)
$2,348
EBITDA · LTM ($MM)
43%
EBITDA margin
4.0x
EV / revenue
9.2x
EV / EBITDA
-0.9x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01FSLR is a scaled public consolidator in Renewables & RNG, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is AMRC, NEE, CWEN, BEP, BEPC, ORA.
Balance sheet & capacity
Indicative capacity read: -0.9x net debt / EBITDA with EBITDA of $2.3B.
$2,363
Cash & equiv. ($MM)
$237
Total debt ($MM)
($2,126)
Net debt ($MM)
-0.9x
Net debt / EBITDA
Valuation
Where it trades against its peer set
FSLR versus the scaled public Renewables, RNG & Sustainability Infrastructure comparables.
Indexed share-price performance
FSLR versus available Renewables, RNG & Sustainability Infrastructure peers and SPY.
+255%
FSLR
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| First Solar, Inc. | FSLR | $5,419 | $2,348 | 43% | $23,634 | $21,697 | 4.0x | 9.2x | -0.9x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
FSLR's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
15
Active years
8
Named deals
N/A
Avg / active year
1.9
Acq. cash outflow ($MM)
N/A
Banker read
- 01FSLR reads as a programmatic acquirer: 15 disclosed acquisitions across 8 active years, or 1.9 per active year. The chart shows activity in 6 of the last 8 visible years.
- 02In the last three years, the file shows 5 acquisitions versus 1 in the prior three; recent activity is running above the prior three-year period.
- 03Spend changes the read: $802MM of disclosed spend is concentrated in lumpy years, with FY09 the largest year at $399MM. Recent spend is below the prior three-year period.
Annual acquisitions + disclosed spend
FSLR count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
5 / 1
Last three years is up 400% vs prior three.
Peak count year
FY13
3 disclosed acquisitions in the peak visible year.
Recent spend
$76.7MM
is down 76% vs prior three; peak FY09 at $399MM.
Named evidence
0 rows
0.0% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| No named transactions clear the quality bar in this snapshot. | |||||
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 1 SEC-backed facts across 0 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
0
Named deal filings
0
Recent SEC filings
0
Evidence clips
0
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.0 rows+-
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.0 rows+-
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
Evidence clipsShort excerpts used on the page; expand only when you want the language.0 rows+-
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.