First Solar (NAS:FSLR) EBIT

: $517 Mil (TTM As of Sep. 2023)

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First Solar's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2023 was $294 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was $517 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. First Solar's annualized ROC % for the quarter that ended in Sep. 2023 was 14.92%. First Solar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 24.35%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. First Solar's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 3.39%.

First Solar EBIT Historical Data

The historical data trend for First Solar's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Solar Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

139.07

-93.06

317.23

585.27

20.82

First Solar Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
EBIT																-58.69	-3.44	36.42	189.89	294.20

Competitive Comparison

For the Solar subindustry, First Solar's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

First Solar EV-to-EBIT Distribution

For the Semiconductors industry and Technology sector, First Solar's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where First Solar's EV-to-EBIT falls into.

First Solar EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $517 Mil.

First Solar (NAS:FSLR) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

First Solar's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	1091.016 * ( 1 - 7.6% )	/	( (6478.4	+	7031.269)	/ 2 )
=	1008.098784	/	6754.8345
=	14.92 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	8997.166	-	634.809	-	( 1883.957	-	max(0, 1090.614	-	3660.73	+	1883.957	))
=	6478.4

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9582.645	-	728.902	-	( 1822.474	-	max(0, 1199.105	-	3824.002	+	1822.474	))
=	7031.269

Note: The Operating Income data used here is four times the quarterly (Sep. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

First Solar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1176.796	/	( ( (4109.925 + max(607.468, 0))	+	(4154.369 + max(792.076, 0)) )	/	2 )
=	1176.796	/	( ( 4717.393	+	4946.445 )	/	2 )
=	1176.796	/	4831.919
=	24.35 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(631.335	+	949.789	+	107.265)	-	(634.809	+	390.231	+	55.881)
=	607.468

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(753.52	+	1069.6	+	123.005)	-	(728.902	+	372.167	+	52.98)
=	792.076

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

First Solar's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2023 )
	=	517.067	/	15244.301
	=	3.39 %

First Solar EBIT Related Terms

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First Solar (NAS:FSLR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » First Solar Inc (NAS:FSLR) » Definitions » EBIT

Traded in Other Exchanges

FSLR:Mexico F3A:Germany F3A:Germany F3A:Germany FSLR34:Brazil FSLR:Austria FSLR:Argentina

Address

350 West Washington Street, Suite 600, Tempe, AZ, USA, 85281

Website

https://www.firstsolar.com

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

Executives

Norman L. Wright	director	26335 N. 104TH WAY, SCOTTSDALE AZ 85255
Lisa A Kro	director	3700 WELLS FARGO CENTER, 90 SOUTH 7TH STREET, MINNEAPOLIS MN 55402
Anita M. George	director	4/5 SHANTINIKETAN, NEW DELHI K7 110 021
Kathryn A Hollister	director	331 OREGON STREET, CINCINNATI OH 45202
Michael Koralewski	officer: Chief Mfg. Operations Officer	28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Kuntal Kumar Verma	officer: Chief Mfg. Engineering Officer	28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Patrick James Buehler	officer: Chief Quality and Rel. Officer	28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Markus Gloeckler	officer: Co-Chief Technology Officer	28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Jason E. Dymbort	officer: General Counsel, Interim	77 RIO ROBLES, SAN JOSE CA 95134
Caroline Stockdale	officer: EVP, HR & Communications	C/O WARNER MUSIC GROUP, 75 ROCKEFELLER PLAZA, NEW YORK NY 10019
Byron Michael Jeffers	officer: CAO, Interim	350 WEST WASHINGTON ST., TEMPE AZ 85281
Molly Joseph	director	9209 GRAND SUMMIT BLVD, DRIPPING SPRINGS TX 78620
Jtw Trust No. 1 Uad 9/19/02	other: Member of Group(1)	P.O. BOX 1860, BENTONVILLE AR 72712
Jcl Holdings Llc	10 percent owner	PO BOX 1860, BENTONVILLE AR 72712
Lukas T Walton	10 percent owner	C/O CRAVATH, SWAINE & MOORE LLP, 825 EIGHTH AVENUE, NEW YORK NY 10019