Question 1

What is First Solar's P/E ratio?

Accepted Answer

First Solar (FSLR) P/E ratio is 18.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for First Solar?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For First Solar specifically, the relevant sector benchmark is the current sector median of 17.9×.

Question 5

Is First Solar's P/E ratio high or low?

Accepted Answer

First Solar's P/E ratio of 18.0× is below its own 5-year average of 62.1× and above the sector median of 17.9×. That places the current reading at the 33th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is First Solar's historical P/E ratio range?

Accepted Answer

In the available daily series, First Solar (FSLR) P/E ratio has ranged from a low of 5.7× in 2013 to a high of 596.1× in 2023. The 5-year average is 62.1× and the 5-year median is 19.8×.

Question 7

What was First Solar's P/E ratio in 2025?

Accepted Answer

First Solar (FSLR) P/E ratio at the end of 2025 was 18.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does First Solar's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$28.03B	$1.53B	18.3×	+3.7×	Dec 31, 2025
2024	$18.87B	$1.29B	14.6×	-7.6×	Dec 31, 2024
2023	$18.41B	$830.78M	22.2×	—	Dec 31, 2023
2022	$15.97B	−$44.17M	—	—	Dec 31, 2022
2021	$9.27B	$468.69M	19.8×	-6.5×	Dec 31, 2021
2020	$10.48B	$398.36M	26.3×	—	Dec 31, 2020
2019	$5.90B	−$114.93M	—	—	Dec 31, 2019
2018	$4.45B	$144.33M	30.8×	—	Dec 31, 2018
2017	$7.05B	−$165.62M	—	—	Dec 31, 2017
2016	$3.33B	−$416.11M	—	—	Dec 31, 2016
2015	$6.69B	$593.41M	11.3×	-0.0×	Dec 31, 2015
2014	$4.47B	$395.96M	11.3×	-4.2×	Dec 31, 2014
2013	$5.44B	$350.72M	15.5×	—	Dec 31, 2013
2012	$2.69B	−$96.34M	—	—	Dec 31, 2012
2011	$2.91B	−$39.49M	—	—	Dec 31, 2011
2010	$11.05B	$664.20M	16.6×	-1.0×	Dec 31, 2010
2009	$11.31B	$640.14M	17.7×	-14.1×	Dec 31, 2009
2008	$11.06B	$348.33M	31.8×	-94.3×	Dec 31, 2008
2007	$19.96B	$158.35M	126.0×	-48.6×	Dec 31, 2007
2006	$1.68B	$9.62M	174.7×	—	Dec 31, 2006
2005	$1.21B	−$6.46M	—	—	Dec 31, 2005
2004	$1.07B	−$16.77M	—	—	Dec 31, 2004


Chevron (CVX)	37.2×
Enphase Energy (ENPH)	36.8×
Williams Companies (WMB)	31.4×
Exxon Mobil (XOM)	28.0×
Targa Resources (TRGP)	25.4×
SLB (SLB)	23.3×
Kinder Morgan (KMI)	22.5×
ConocoPhillips (COP)	22.1×
Enbridge (ENB)	21.6×
Halliburton (HAL)	21.2×
Baker Hughes (BKR)	19.4×
NACCO Industries (NC)	18.1×
Phillips 66 (PSX)	17.8×
Valero Energy (VLO)	17.5×
ONEOK (OKE)	16.1×
Marathon Petroleum (MPC)	15.6×
EOG Resources (EOG)	14.0×
Devon Energy (DVN)	13.8×
Energy Transfer LP (ET)	13.7×
Occidental Petroleum (OXY)	13.5×
National Fuel Gas (NFG)	13.0×
EQT (EQT)	11.9×
APA (APA)	9.8×
Expand Energy (EXE)	8.2×
Sunrun (RUN)	5.6×

P/E Ratio for First Solar (FSLR)

P/E Ratio daily chart for First Solar (FSLR)

Historical P/E Ratio for First Solar (FSLR) from 2004 to 2025

About P/E Ratio at First Solar (FSLR)

First Solar P/E Ratio by Year

First Solar P/E Ratio 2025: 18.3×

First Solar P/E Ratio 2024: 14.6×

First Solar P/E Ratio 2023: 22.2×

First Solar P/E Ratio 2021: 19.8×

First Solar P/E Ratio 2020: 26.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

First Solar (FSLR) Key Financials

P/E Ratio daily chart for First Solar (FSLR)

Historical P/E Ratio for First Solar (FSLR) from 2004 to 2025

About P/E Ratio at First Solar (FSLR)

First Solar P/E Ratio by Year

First Solar P/E Ratio 2025: 18.3×

First Solar P/E Ratio 2024: 14.6×

First Solar P/E Ratio 2023: 22.2×

First Solar P/E Ratio 2021: 19.8×

First Solar P/E Ratio 2020: 26.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is First Solar's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for First Solar?

+Is First Solar's P/E ratio high or low?

+What is First Solar's historical P/E ratio range?

+What was First Solar's P/E ratio in 2025?

+Why does First Solar's P/E ratio change over time?

First Solar (FSLR) Key Financials