GURUFOCUS.COM » STOCK LIST » USA » NAS » First Solar Inc (NAS:FSLR) » Definitions » Cyclically Adjusted FCF per Share
Switch to:

First Solar (NAS:FSLR) Cyclically Adjusted FCF per Share

: $-2.42 (As of Sep. 2023)
View and export this data going back to 2006. Start your Free Trial

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

First Solar's adjusted free cash flow per share for the three months ended in Sep. 2023 was $-1.124. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is $-2.42 for the trailing ten years ended in Sep. 2023.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -24.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of First Solar was 1.60% per year. The lowest was -24.50% per year. And the median was -10.75% per year.

As of today (2024-02-26), First Solar's current stock price is $142.86. First Solar's Cyclically Adjusted FCF per Share for the quarter that ended in Sep. 2023 was $-2.42. First Solar's Cyclically Adjusted Price-to-FCF of today is .

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of First Solar was 835.50. The lowest was 25.05. And the median was 61.66.


First Solar Cyclically Adjusted FCF per Share Historical Data

The historical data trend for First Solar's Cyclically Adjusted FCF per Share 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
Cyclically Adjusted FCF per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.57 -0.44 -0.96 -0.24 -0.85

First Solar Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Cyclically Adjusted FCF per Share Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.87 -0.85 -1.24 -1.89 -2.42

Competitive Comparison

For the Solar subindustry, First Solar's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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 Cyclically Adjusted Price-to-FCF Distribution

For the Semiconductors industry and Technology sector, First Solar's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where First Solar's Cyclically Adjusted Price-to-FCF falls into.



First Solar Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, First Solar's adjusted Free Cash Flow per Share data for the three months ended in Sep. 2023 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Sep. 2023 (Change)*Current CPI (Sep. 2023)
=-1.124/129.8595*129.8595
=-1.124

Current CPI (Sep. 2023) = 129.8595.

First Solar Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201312 1.342 98.326 1.772
201403 -3.624 99.695 -4.721
201406 0.550 100.560 0.710
201409 -1.166 100.428 -1.508
201412 8.957 99.070 11.741
201503 -4.782 99.621 -6.234
201506 -0.484 100.684 -0.624
201509 -0.236 100.392 -0.305
201512 0.606 99.792 0.789
201603 0.315 100.470 0.407
201606 -1.369 101.688 -1.748
201609 -1.253 101.861 -1.597
201612 2.066 101.863 2.634
201703 3.641 102.862 4.597
201706 -2.603 103.349 -3.271
201709 4.578 104.136 5.709
201712 2.247 104.011 2.805
201803 -2.098 105.290 -2.588
201806 -0.628 106.317 -0.767
201809 -4.363 106.507 -5.320
201812 -2.974 105.998 -3.643
201903 -4.309 107.251 -5.217
201906 -1.567 108.070 -1.883
201909 -4.710 108.329 -5.646
201912 5.915 108.420 7.085
202003 -5.803 108.902 -6.920
202006 0.370 108.767 0.442
202009 0.951 109.815 1.125
202012 0.905 109.897 1.069
202103 -3.458 111.754 -4.018
202106 0.811 114.631 0.919
202109 1.316 115.734 1.477
202112 -1.498 117.630 -1.654
202203 -2.759 121.301 -2.954
202206 -1.034 125.017 -1.074
202209 -0.884 125.227 -0.917
202212 4.393 125.222 4.556
202303 -3.785 127.348 -3.860
202306 -4.403 128.729 -4.442
202309 -1.124 129.860 -1.124

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


First Solar  (NAS:FSLR) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of First Solar was 835.50. The lowest was 25.05. And the median was 61.66.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


First Solar Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of First Solar's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


First Solar (NAS:FSLR) Business Description

Industry
Address
350 West Washington Street, Suite 600, Tempe, AZ, USA, 85281
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
Georges Antoun officer: Chief Operating Officer C/O FIRST SOLAR, INC., 350 WEST WASHINGTON ST., SUITE 600, TEMPE AZ 85281
Kuntal Kumar Verma officer: Chief Mfg. Engineering Officer 28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Alexander R. Bradley officer: Chief Financial Officer 77 RIO ROBLES, SAN JOSE CA 95134
Markus Gloeckler officer: Co-Chief Technology Officer 28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
R Craig Kennedy director 1844 "R" STREET, NW, WASHINGTON DC 20009
Mark R Widmar officer: Chief Financial Officer C/O GRAFTECH INTERNATIONAL LTD, 12900 SNOW ROAD, PARMA OH 44130
Michael T Sweeney director GOLDNER HAWN, 3700 WELLS FARGO CENTER, 90 SOUTH 7TH ST, MINNEAPOLIS MN 55402
William J Post director 400 NORTH FIFTH STREET, ., PHOENIX AZ 85004
Paul H Stebbins director C/O WORLD FUEL SERVICES CORP, 9800 N.W. 41ST STREET, SUITE 400, MIAMI FL 33178
Byron Michael Jeffers officer: CAO, Interim 350 WEST WASHINGTON ST., TEMPE AZ 85281
Richard D Chapman director 350 WEST WASHINGTON STREET, SUITE 600, TEMPE AZ 85281
Jason E. Dymbort officer: General Counsel, Interim 77 RIO ROBLES, SAN JOSE CA 95134
Norman L. Wright director 26335 N. 104TH WAY, SCOTTSDALE AZ 85255
Patrick James Buehler officer: Chief Quality and Rel. Officer 28101 CEDAR PARK BLVD., PERRYSBURG OH 43551
Michael Koralewski officer: Chief Mfg. Operations Officer 28101 CEDAR PARK BLVD., PERRYSBURG OH 43551