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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2024-05-13), First Solar's Intrinsic Value: Projected FCF is $3.74. The stock price of First Solar is $191.05. Therefore, First Solar's Price-to-Intrinsic-Value-Projected-FCF of today is 51.1.
The historical rank and industry rank for First Solar's Intrinsic Value: Projected FCF or its related term are showing as below:
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of First Solar was 51.08. The lowest was 0.57. And the median was 1.76.
The historical data trend for First Solar's Intrinsic Value: Projected FCF 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.
First Solar Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | 29.50 | 31.00 | 24.92 | 26.18 | 4.82 |
First Solar Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | 17.48 | 6.62 | 10.71 | 4.82 | 3.74 |
For the Solar subindustry, First Solar's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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.
For the Semiconductors industry and Technology sector, First Solar's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where First Solar's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)
In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)
Add all the Free Cash Flow together and divide 6 will get First Solar's Free Cash Flow(6 year avg) = $-512.62.
First Solar's Intrinsic Value: Projected FCF for today is calculated as
Intrinsic Value: Projected FCF | = | (Growth Multiple | * | Free Cash Flow (6 year avg) | + | Total Stockholders Equity (Mar24) | * | 0.8) | / | Shares Outstanding (Diluted Average) |
= | (9.9881567514702 | * | -512.62304 | + | 6902.514 | * | 0.8) | / | 107.407 | |
= | 3.74 |
* 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 (NAS:FSLR) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
First Solar's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF | = | Share Price | / | Intrinsic Value: Projected FCF |
= | 191.05 | / | 3.7413941555468 | |
= | 51.06 |
* 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.
Thank you for viewing the detailed overview of First Solar's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
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