First Solar (XSWX:FSLR) Net-Net Working Capital: CHF4.39 (As of Mar. 2026)

First Solar  (XSWX:FSLR) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.

First Solar Net-Net Working Capital Related Terms

The historical data trend for First Solar's Net-Net Working Capital 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 Net-Net Working Capital Chart

First Solar Annual Data
	Trend	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23	Dec24	Dec25
Net-Net Working Capital		Get a 7-Day Free Trial					9.56	6.97	-4.64	-6.11	4.30

First Solar Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Net-Net Working Capital	Get a 7-Day Free Trial															-8.64	-7.56	-4.52	4.30	4.39

XSWX:FSLR vs NXT, ENPH, RUN: Net-Net Working Capital Comparison

For the Solar subindustry, First Solar's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Semiconductors Industry

For the Semiconductors industry and Technology sector, First Solar's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where First Solar's Price-to-Net-Net-Working-Capital falls into.

First Solar Net-Net Working Capital Calculation

First Solar's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2025 is calculated as

First Solar's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2026 is calculated as

* 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 calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.

First Solar Business Description