First SolarXSWX:FSLR 91 Debt-to-EBITDA is 0.29 as of Mar. 2026, which is 56% below its 10-year median of 0.66. GuruFocus rates XSWX:FSLR with a GF Score™ of 91/100 and a GF Value™ of CHF216.08. The stock has 5 warning signs investors should review. Among 718 Semiconductors companies, First Solar ranks better than 77.58% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for First Solar's Debt-to-EBITDA or its related term are showing as below:
XSWX:FSLR'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -0.75 Med: 0.66 Max: 5.3
Current: 0.25
During the past 13 years, the highest Debt-to-EBITDA Ratio of First Solar was 5.30. The lowest was -0.75. And the median was 0.66.
XSWX:FSLR's Debt-to-EBITDA is ranked better than 77.58% of 718
companies
in the Semiconductors industry
Industry Median: 1.445
vs XSWX:FSLR: 0.25
First Solar (XSWX:FSLR) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
First Solar Debt-to-EBITDA Related Terms
First Solar Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for First Solar's Debt-to-EBITDA 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.
XSWX:FSLR vs NXT, ENPH, RUN: Debt-to-EBITDA Comparison
For the Solar subindustry, First Solar's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Semiconductors Industry
For the Semiconductors industry and Technology sector, First Solar's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where First Solar's Debt-to-EBITDA 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
First Solar (XSWX:FSLR) has a Debt-to-EBITDA of 0.29 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on First Solar. This is 56% below median its historical median of 0.66. According to the industry distribution chart, First Solar ranks #161 out of 718 companies in the Semiconductors industry, placing it in the top 22.4%.
Is First Solar's Debt-to-EBITDA too high?
First Solar's current Debt-to-EBITDA of 0.29 is 56% below median its 10-year median of 0.66. The Semiconductors industry median Debt-to-EBITDA is 1.45. First Solar's value of 0.29 is 79.9% below this industry median. Based on the distribution chart, First Solar ranks #161 out of 718 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, First Solar has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does First Solar's Debt-to-EBITDA compare to NXT and ENPH?
According to the Semiconductors industry distribution chart, First Solar ranks #161 out of 718 companies for Debt-to-EBITDA. This places First Solar in the top 22% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 1.45. First Solar's value of 0.29 is 79.9% below this benchmark. While the company's 10-year median is 0.66 vs. the industry median of 1.45, First Solar has consistently been below 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 Debt-to-EBITDA for a Semiconductors company?
The median Debt-to-EBITDA among Semiconductors companies is 1.45, based on 718 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Solar's current Debt-to-EBITDA of 0.29 is 79.9% below 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on First Solar. For the Semiconductors industry, the median Debt-to-EBITDA is 1.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Solar's current Debt-to-EBITDA is 0.29, which is 56% below median its own 10-year median of 0.66. 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 Debt-to-EBITDA of 0.29. The stock's GF Value™ is CHF216.08, compared to a current price of CHF186.30 — trading 13.8% below its estimated fair value. The current Debt-to-EBITDA is 0.29, which is 56% below median its 10-year median of 0.66 and 79.9% below the Semiconductors industry median of 1.45. First Solar's overall GF Score™ is 91/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For First Solar (XSWX:FSLR), the current Debt-to-EBITDA is 0.29 as of Mar. 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 undervalued.
The current stock price of CHF186.30 is trading 13.8% below its estimated GF Value™ of CHF216.08.
Key valuation signals for XSWX:FSLR:
Debt-to-EBITDA: 0.29 (56% below median its 10-year median of 0.66)
GF Value™: CHF216.08 vs. price of CHF186.30 (13.8% below fair value)
Industry Position: 79.9% below the Semiconductors median (#161 of 718)
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.
91GF Score
Get the complete analysis for XSWX:FSLR
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