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First SolarXSWX:FSLR -5.34%90 EV-to-OCF is 8.66 as of Jul. 19, 2026, which is 51% below its 10-year median of 17.72. GuruFocus rates XSWX:FSLR with a GF Score™ of 90/100 and a GF Value™ of CHF209.12. The stock has 5 warning signs investors should review. Among 1,029 Semiconductors companies, First Solar ranks better than 58.21% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, First Solar's Enterprise Value is CHF16,945 Mil.
First Solar's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was CHF1,956 Mil. Therefore, First Solar's EV-to-OCF for today is 8.66.
The historical rank and industry rank for First Solar's EV-to-OCF or its related term are showing as below:
XSWX:FSLR'
s EV-to-OCF Range Over the Past 10 Years
Min: -167.76 Med: 17.72 Max: 273.79
Current: 8.55
During the past 13 years, the highest EV-to-OCF of First Solar was 273.79. The lowest was -167.76. And the median was 17.72.
XSWX:FSLR's EV-to-OCF is ranked better than 58.21% of 1029
companies
in the Semiconductors industry
Industry Median: 14.34
vs XSWX:FSLR: 8.55
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
First Solar's PE Ratio (TTM) for today is calculated as:
First Solar's share price for today is CHF167.14.
First Solar's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF12.353.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
First Solar EV-to-OCF Related Terms
First Solar EV-to-OCF Historical Data
* Premium members only.
The historical data trend for First Solar's EV-to-OCF 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.
For the Solar subindustry, First Solar's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Semiconductors Industry
For the Semiconductors industry and Technology sector, First Solar's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where First Solar's EV-to-OCF falls into.
First Solar's current Enterprise Value is CHF16,945 Mil.
First Solar's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF1,956 Mil.
* 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 EV-to-OCF of 8.66 as of Jul. 19, 2026. This is 51% below median its historical median of 17.72. According to the industry distribution chart, First Solar ranks #430 out of 1029 companies in the Semiconductors industry, placing it in the top 41.8%.
Is First Solar's EV-to-OCF too high?
First Solar's current EV-to-OCF of 8.66 is 51% below median its 10-year median of 17.72. The Semiconductors industry median EV-to-OCF is 14.34. First Solar's value of 8.66 is 39.6% below this industry median. Based on the distribution chart, First Solar ranks #430 out of 1029 companies in the Semiconductors industry, which is above the industry midpoint. Overall, First Solar has a GF Score™ of 90/100, reflecting its overall financial health beyond just this single metric.
How does First Solar's EV-to-OCF compare to NXT and ENPH?
According to the Semiconductors industry distribution chart, First Solar ranks #430 out of 1029 companies for EV-to-OCF. This puts First Solar in the upper half of its industry. The industry median EV-to-OCF is 14.34. First Solar's value of 8.66 is 39.6% below this benchmark. While the company's 10-year median is 17.72 vs. the industry median of 14.34, 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 EV-to-OCF for a Semiconductors company?
The median EV-to-OCF among Semiconductors companies is 14.34, based on 1,029 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Solar's current EV-to-OCF of 8.66 is 39.6% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Semiconductors industry, the median EV-to-OCF is 14.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Solar's current EV-to-OCF is 8.66, which is 51% below median its own 10-year median of 17.72. 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 EV-to-OCF of 8.66. The stock's GF Value™ is CHF209.12, compared to a current price of CHF167.14 — trading 20.1% below its estimated fair value. The current EV-to-OCF is 8.66, which is 51% below median its 10-year median of 17.72 and 39.6% below the Semiconductors industry median of 14.34. First Solar's overall GF Score™ is 90/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For First Solar (XSWX:FSLR), the current EV-to-OCF is 8.66 as of Jul. 19, 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 CHF167.14 is trading 20.1% below its estimated GF Value™ of CHF209.12.
Key valuation signals for XSWX:FSLR:
EV-to-OCF: 8.66 (51% below median its 10-year median of 17.72)
GF Value™: CHF209.12 vs. price of CHF167.14 (20.1% below fair value)
Industry Position: 39.6% below the Semiconductors median (#430 of 1029)
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.
90GF Score
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