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First Solar (NAS:FSLR) Cyclically Adjusted PB Ratio

: 2.31 (As of Today)
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As of today (2024-02-26), First Solar's current share price is $142.86. First Solar's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was $61.89. First Solar's Cyclically Adjusted PB Ratio for today is 2.31.

The historical rank and industry rank for First Solar's Cyclically Adjusted PB Ratio or its related term are showing as below:

FSLR' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.66   Med: 1.52   Max: 3.82
Current: 2.31

During the past years, First Solar's highest Cyclically Adjusted PB Ratio was 3.82. The lowest was 0.66. And the median was 1.52.

FSLR's Cyclically Adjusted PB Ratio is ranked better than
53.79% of 634 companies
in the Semiconductors industry
Industry Median: 2.565 vs FSLR: 2.31

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 PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

First Solar's adjusted book value per share data for the three months ended in Sep. 2023 was $58.987. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $61.89 for the trailing ten years ended in Sep. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


First Solar Cyclically Adjusted PB Ratio Historical Data

The historical data trend for First Solar's Cyclically Adjusted PB Ratio 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 PB Ratio
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.89 1.11 1.91 1.57 2.51

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 PB Ratio 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 2.22 2.51 3.59 3.10 2.61

Competitive Comparison

For the Solar subindustry, First Solar's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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 PB Ratio Distribution

For the Semiconductors industry and Technology sector, First Solar's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where First Solar's Cyclically Adjusted PB Ratio falls into.



First Solar Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

First Solar's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=142.86/61.89
=2.31

* 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's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 is calculated as:

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

Adj_Book=Book Value per Share/CPI of Sep. 2023 (Change)*Current CPI (Sep. 2023)
=58.987/129.8595*129.8595
=58.987

Current CPI (Sep. 2023) = 129.8595.

First Solar Quarterly Data

Book Value per Share CPI Adj_Book
201312 45.254 98.326 59.767
201403 46.290 99.695 60.296
201406 46.597 100.560 60.174
201409 47.832 100.428 61.850
201412 49.771 99.070 65.239
201503 49.480 99.621 64.499
201506 49.969 100.684 64.449
201509 53.397 100.392 69.071
201512 54.521 99.792 70.948
201603 56.144 100.470 72.567
201606 56.714 101.688 72.426
201609 57.219 101.861 72.947
201612 50.160 101.863 63.946
201703 50.128 102.862 63.285
201706 50.685 103.349 63.686
201709 52.785 104.136 65.824
201712 48.806 104.011 60.935
201803 49.248 105.290 60.740
201806 48.768 106.317 59.567
201809 49.335 106.507 60.152
201812 49.696 105.998 60.883
201903 48.685 107.251 58.948
201906 48.725 108.070 58.549
201909 49.167 108.329 58.939
201912 48.334 108.420 57.892
202003 48.804 108.902 58.196
202006 49.328 108.767 58.894
202009 50.919 109.815 60.213
202012 52.094 109.897 61.557
202103 53.567 111.754 62.245
202106 54.399 114.631 61.626
202109 54.832 115.734 61.524
202112 56.047 117.630 61.874
202203 55.123 121.301 59.012
202206 55.311 125.017 57.454
202209 54.672 125.227 56.695
202212 54.743 125.222 56.770
202303 54.938 127.348 56.022
202306 56.535 128.729 57.032
202309 58.987 129.860 58.987

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book 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.


First Solar  (NAS:FSLR) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


First Solar Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of First Solar's Cyclically Adjusted PB Ratio 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