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First SolarXSWX:FSLR -5.19%88 Cash-to-Debt is 8.90 as of Jun. 2026, which is 133% above its 10-year median of 3.82. GuruFocus rates XSWX:FSLR with a GF Score™ of 88/100 and a GF Value™ of CHF138.14. The stock has 6 warning signs investors should review. Among 1,026 Semiconductors companies, First Solar ranks better than 73.68% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. First Solar's cash to debt ratio for the quarter that ended in Jun. 2026 was 8.90.
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, First Solarcould pay off its debt using the cash in hand for the quarter that ended in Jun. 2026.
The historical rank and industry rank for First Solar's Cash-to-Debt or its related term are showing as below:
XSWX:FSLR'
s Cash-to-Debt Range Over the Past 10 Years
Min: 1.08 Med: 3.82 Max: 11.01
Current: 8.9
During the past 13 years, First Solar's highest Cash to Debt Ratio was 11.01. The lowest was 1.08. And the median was 3.82.
XSWX:FSLR's Cash-to-Debt is ranked better than 73.68% of 1026
companies
in the Semiconductors industry
Industry Median: 1.65
vs XSWX:FSLR: 8.90
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
First Solar Cash-to-Debt Related Terms
First Solar Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for First Solar's Cash-to-Debt 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.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
XSWX:FSLR vs NXT, ENPH, SEDG: Cash-to-Debt Comparison
For the Solar subindustry, First Solar's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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 Cash-to-Debt vs Semiconductors Industry
For the Semiconductors industry and Technology sector, First Solar's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where First Solar's Cash-to-Debt falls into.
* 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.
First Solar (XSWX:FSLR) has a Cash-to-Debt of 8.90 as of Jun. 2026. This is 133% above median its historical median of 3.82. Over the past decade, First Solar's Cash-to-Debt has ranged from 1.08 to 11.01. According to the industry distribution chart, First Solar ranks #270 out of 1026 companies in the Semiconductors industry, placing it in the top 26.3%.
Is First Solar's Cash-to-Debt too high?
First Solar's current Cash-to-Debt of 8.90 is 133% above median its 10-year median of 3.82. Over the past 10 years, this metric has ranged from a low of 1.08 to a high of 11.01. The Semiconductors industry median Cash-to-Debt is 1.65. First Solar's value of 8.90 is 439.4% above this industry median. Based on the distribution chart, First Solar ranks #270 out of 1026 companies in the Semiconductors industry, which is above the industry midpoint. Overall, First Solar has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does First Solar's Cash-to-Debt compare to NXT and ENPH?
According to the Semiconductors industry distribution chart, First Solar ranks #270 out of 1026 companies for Cash-to-Debt. This puts First Solar in the upper half of its industry. The industry median Cash-to-Debt is 1.65. First Solar's value of 8.90 is 439.4% above this benchmark. Historically, First Solar's own Cash-to-Debt has ranged from 1.08 to 11.01 over the past decade. While the company's 10-year median is 3.82 vs. the industry median of 1.65, First Solar has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for a Semiconductors company?
The median Cash-to-Debt among Semiconductors companies is 1.65, based on 1,026 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Solar's current Cash-to-Debt of 8.90 is 439.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Semiconductors industry, the median Cash-to-Debt is 1.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Solar's current Cash-to-Debt is 8.90, which is 133% above median its own 10-year median of 3.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Solar stock overvalued right now?
First Solar (XSWX:FSLR) has a current Cash-to-Debt of 8.90. The stock's GF Value™ is CHF138.14, compared to a current price of CHF185.62 — trading 34.4% above its estimated fair value. The current Cash-to-Debt is 8.90, which is 133% above median its 10-year median of 3.82 and 439.4% above the Semiconductors industry median of 1.65. First Solar's overall GF Score™ is 88/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For First Solar (XSWX:FSLR), the current Cash-to-Debt is 8.90 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Solar (XSWX:FSLR) Overvalued in 2026?
Based on GuruFocus' analysis, First Solar stock appears to be overvalued.
The current stock price of CHF185.62 is trading 34.4% above its estimated GF Value™ of CHF138.14.
Key valuation signals for XSWX:FSLR:
Cash-to-Debt: 8.90 (133% above median its 10-year median of 3.82)
GF Value™: CHF138.14 vs. price of CHF185.62 (34.4% above fair value)
Industry Position: 439.4% above the Semiconductors median (#270 of 1026)
No single metric tells the full story. See the XSWX:FSLR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
88GF Score
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