Stock Analysis on Net
Stock Analysis on Net

First Solar Inc. (NASDAQ:FSLR)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 29, 2024.

Current Ratio
since 2006

Microsoft Excel

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Calculation

First Solar Inc., current ratio, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).

1 US$ in thousands

The analysis of the financial data reveals significant trends in liquidity as reflected by current assets, current liabilities, and the current ratio over the reported periods.

Current Assets
Current assets show a general upward trend from 2006 through 2023, increasing from approximately 389 million USD to over 4.63 billion USD. This growth indicates an expanding asset base available to meet short-term obligations. Despite some fluctuations, such as a decline between 2014 and 2015 and again from 2018 to 2020, the overall direction is positive with notable increases especially after 2015.
Current Liabilities
Current liabilities have also increased markedly, rising from roughly 52 million USD in 2006 to about 1.31 billion USD in 2023. The growth in liabilities is significant and somewhat variable, with sharp increases until around 2013, followed by periods of decline and then renewed increases. This pattern suggests active management of liabilities but also reflects the company’s expanding operational scale and possible increased reliance on short-term financing.
Current Ratio
The current ratio exhibits considerable volatility but generally remains above 2.0 across most years, indicating that current assets have consistently been sufficient to cover current liabilities. Starting from a very high level of 7.46 in 2006, it declined steadily until 2013, reaching a low near 2.39, signifying tightening liquidity. From 2014 onwards, the ratio fluctuates between approximately 2.7 and 5.89, reflecting periods of strengthening and weakening short-term financial stability. The occasional peaks, such as in 2017 (5.89), suggest times of conservative liquidity management, while dips, for example in 2019 (2.73), may point to higher leverage or increased short-term obligations.

Overall, the financial data indicate that the company has experienced significant growth in both assets and liabilities. Liquidity management appears effective, with current ratios mostly maintained at levels that suggest sufficient coverage of short-term obligations. The fluctuations in the current ratio highlight periods of changing financial strategy or operational conditions, which warrant further investigation to understand the underlying causes fully.

Comparison to Competitors

First Solar Inc., current ratio, long-term trends, comparison to competitors

Microsoft Excel
First Solar Inc. Advanced Micro Devices Inc. Analog Devices Inc. Applied Materials Inc. Broadcom Inc. Intel Corp. KLA Corp. Lam Research Corp. Micron Technology Inc. NVIDIA Corp. Qualcomm Inc. Texas Instruments Inc.
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 26, 2009
Dec 27, 2008
Dec 29, 2007
Dec 30, 2006

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).

Comparison to Sector (Semiconductors & Semiconductor Equipment)

First Solar Inc., current ratio, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel
First Solar Inc. Semiconductors & Semiconductor Equipment
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 26, 2009
Dec 27, 2008
Dec 29, 2007
Dec 30, 2006

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).

Comparison to Industry (Information Technology)

First Solar Inc., current ratio, long-term trends, comparison to industry (information technology)

Microsoft Excel
First Solar Inc. Information Technology
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 26, 2009
Dec 27, 2008
Dec 29, 2007
Dec 30, 2006

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30).