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First Solar FSLR

First Solar scores excellent on business quality (7.7 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$177.82Oct 10, 2026
Business qualityExcellent
Next earningsOct 29, 2026, after the close
Insiders, 90 daysSelling

Why it matters

  1. What First Solar does

    First Solar designs and manufactures photovoltaic solar panels using advanced thin-film semiconductor technology. Utility-scale developers pay for these specialized modules to power massive commercial energy projects.

  2. What it does best

    First Solar dominates domestic thin-film solar manufacturing, backed by a gross margin of 44.0%. This technological edge is protected by heavy capital intensity and proprietary cadmium telluride formulas that standard silicon rivals struggle to replicate cost-effectively.

  3. The main risk

    An inventory glut combined with new tariffs and slower project starts threatens volume off-take. If buyers delay installations, excess modules sit unsold and pressure pricing power across the backlog.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin stands at 33.7% with an FCF margin ranking in the top quartile at the 73rd sector percentile. Profitability expands efficiently as manufacturing scale increases.

MoatFair

The moat relies on proprietary manufacturing technology that locks in utility-scale developers through long-term supply agreements. Yet its gross margin sits in the bottom quartile of its sector at the 25th percentile, showing limited pricing insulation.

GrowthFast

Revenue grew 24.1% over the latest period, continuing a multi-year acceleration visible in history where revenue climbed from $2.6B in 2022 to $5.4B.

Financial healthStrong

Debt-to-equity sits at a minimal 0.06 with interest coverage at 46x, making debt costs a rounding error. Free cash flow surged to $1.5B, leaving the balance sheet considerably stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

1 sold $28K outside pre-planned sales.

Our sealed record on FSLR

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is FSLR a good business?

First Solar scores excellent on the Cluenex quality check (7.7 of 10), measured against its own industry. Profitability is strong, moat fair, growth fast and financial health strong.

Are insiders buying FSLR?

In the last 90 days of SEC Form 4 filings: 1 sold $28K outside pre-planned sales.

When does FSLR report earnings?

Oct 29, 2026, after the close.

For members

See FSLR today

  • Today's verdict on FSLR, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “First Solar (FSLR)”, https://cluenex.com/stocks/fslr/, data as of Oct 10, 2026.