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First SolarXSWX:FSLR -0.38%91 Debt-to-Equity is 0.06 as of Mar. 2026, which is 33% below its 10-year median of 0.09. GuruFocus rates XSWX:FSLR with a GF Score™ of 91/100 and a GF Value™ of CHF216.46. The stock has 5 warning signs investors should review. Among 901 Semiconductors companies, First Solar ranks better than 79.36% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for First Solar's Debt-to-Equity or its related term are showing as below:
XSWX:FSLR'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.04 Med: 0.09 Max: 0.14
Current: 0.06
During the past 13 years, the highest Debt-to-Equity Ratio of First Solar was 0.14. The lowest was 0.04. And the median was 0.09.
XSWX:FSLR's Debt-to-Equity is ranked better than 79.36% of 901
companies
in the Semiconductors industry
Industry Median: 0.25
vs XSWX:FSLR: 0.06
First Solar (XSWX:FSLR) Debt-to-Equity Explanation
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
First Solar Debt-to-Equity Related Terms
First Solar Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for First Solar's Debt-to-Equity 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-Equity Comparison
For the Solar subindustry, First Solar's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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-Equity vs Semiconductors Industry
For the Semiconductors industry and Technology sector, First Solar's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where First Solar's Debt-to-Equity 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 Debt-to-Equity of 0.06 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on First Solar and its competitors. This is 33% below median its historical median of 0.09. Over the past decade, First Solar's Debt-to-Equity has ranged from 0.04 to 0.14. According to the industry distribution chart, First Solar ranks #186 out of 901 companies in the Semiconductors industry, placing it in the top 20.6%.
Is First Solar's Debt-to-Equity too high?
First Solar's current Debt-to-Equity of 0.06 is 33% below median its 10-year median of 0.09. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 0.14. The Semiconductors industry median Debt-to-Equity is 0.25. First Solar's value of 0.06 is 76% below this industry median. Based on the distribution chart, First Solar ranks #186 out of 901 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-Equity compare to NXT and ENPH?
According to the Semiconductors industry distribution chart, First Solar ranks #186 out of 901 companies for Debt-to-Equity. This places First Solar in the top 21% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.25. First Solar's value of 0.06 is 76% below this benchmark. Historically, First Solar's own Debt-to-Equity has ranged from 0.04 to 0.14 over the past decade. While the company's 10-year median is 0.09 vs. the industry median of 0.25, 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-Equity for a Semiconductors company?
The median Debt-to-Equity among Semiconductors companies is 0.25, based on 901 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Solar's current Debt-to-Equity of 0.06 is 76% 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-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on First Solar and its competitors. For the Semiconductors industry, the median Debt-to-Equity is 0.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Solar's current Debt-to-Equity is 0.06, which is 33% below median its own 10-year median of 0.09. 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-Equity of 0.06. The stock's GF Value™ is CHF216.46, compared to a current price of CHF185.60 — trading 14.3% below its estimated fair value. The current Debt-to-Equity is 0.06, which is 33% below median its 10-year median of 0.09 and 76% below the Semiconductors industry median of 0.25. 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-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For First Solar (XSWX:FSLR), the current Debt-to-Equity is 0.06 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 CHF185.60 is trading 14.3% below its estimated GF Value™ of CHF216.46.
Key valuation signals for XSWX:FSLR:
Debt-to-Equity: 0.06 (33% below median its 10-year median of 0.09)
GF Value™: CHF216.46 vs. price of CHF185.60 (14.3% below fair value)
Industry Position: 76% below the Semiconductors median (#186 of 901)
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
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