First Solar (FSLR)
Builds cadmium-telluride thin-film solar modules for utility-scale power projects.
Something off on this page? Send us feedback.
Designs and manufactures Series 6 Plus and Series 7 cadmium-telluride thin-film solar modules, with recycling services for end-of-life products. Most modules go to U.S. utility-scale projects, and results are closely tied to domestic manufacturing tax credits, trade policy, and a concentrated base of large customers.
Designs, manufactures, and sells Series 6 Plus and Series 7 photovoltaic modules built on cadmium-telluride thin-film semiconductor technology. A vertically integrated, continuous-flow process turns coated glass into finished modules, while research programs target module efficiency, durability, and manufacturing productivity. Recycling services recover glass and semiconductor material from end-of-life modules.
Manufacturing spans the United States, Malaysia, Vietnam, and India, with most modules sold to customers developing U.S. projects. Sales are concentrated among utility-scale system developers, independent power producers, utilities, and large energy users. Results depend on module pricing, long-term customer contracts, limited-source raw materials, and continued U.S. manufacturing and project tax incentives shaped by energy and trade policy.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Piper Sandler | Initiate | Rating: —Target: $205 | Target: $260 |
| Aug 27, 2026 | H.C. Wainwright | Initiate | Rating: — | |
| Aug 27, 2026 | Raymond James | Initiate | Rating: — | |
| Aug 27, 2026 | BMO Capital | Downgrade | Target: $263 | Target: $265 |
| Aug 27, 2026 | Deutsche Bank | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.73B · Total debt $194.0M · Total assets $13.39B · Shareholders' equity $10.32B
- Revenue
- $1.06B
- Operating income
- $450.4M
- Net income
- $422.6M
No dividends on record.
| Institutions | 93.54% | 100.53M shares | |
|---|---|---|---|
| 1,098 holders · as of Jun 30, 2026 | |||
| Insiders | 8.55% | 9.19M shares | |
| 21 holders · as of Sep 3, 2026 | |||
| Strategic holders | 10.44% | 11.22M shares | |
| 2 holders · as of Aug 13, 2026 | |||
| Adds to | 112.53% | ||
107.47M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 112.53%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 13.05% | 14.03M | as of Jun 30, 2026 |
Lukas T. WaltonInsider10 percent owner | 8.23% | 8.84M | filed Nov 3, 2020 |
Vanguard Capital Management LLCInstitution | 6.36% | 6.84M | as of Jun 30, 2026 |
SIG Brokerage, LPInstitution | 5.92% | 6.36M | filed May 15, 2025 |
Capital Ventures InternationalStrategic | 5.32% | 5.72M | filed May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 1, 2026 | Markus Gloeckler | officer: Chief Technology Officer | −800 | $200.00 |
| Aug 17, 2026 | Samantha L. Sloan | officer: EVP, Corporate Affairs | −127 | $222.95 |
| Aug 11, 2026 | Jason E. Dymbort | officer: General Counsel and Secretary | −3,700 | $249.38 |
| Aug 3, 2026 | Michael Koralewski | officer: Chief Supply Chain Officer | −7,000 | $221.51 |
| Aug 4, 2026 | Markus Gloeckler | officer: Chief Technology Officer | −829 | $248.00 |
- JinkoSolar (ADR)
World's largest c-Si module maker; primary US utility-scale procurement rival.
- Canadian Solar
c-Si module maker + US utility-scale developer; record 8.1 GW to US in 2025.
- Enphase Energy
Residential microinverter leader; competes on distributed solar economics.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| First Solar | $201.09 | +0.62% | $21.48B | 12.3 | 9.5 | 4.0 | −3.7% |
| JinkoSolar (ADR) | $10.39 | −1.61% | $138.3M | — | — | 0.0 | −27.7% |
| Canadian Solar | $11.71 | −0.55% | $799.1M | — | — | 0.2 | −28.7% |
| Enphase Energy | $34.44 | −0.92% | $4.59B | 34.8 | 17.7 | 3.5 | −19.6% |
| Median | 34.8 | 17.7 | 0.2 | −27.7% |