Price to Sales (P/S)
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Calculation
First Solar Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2007 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of First Solar Inc. Annual Report.
The share price exhibits considerable volatility over the analyzed period, with a peak in early 2008 at $211.59, followed by a significant reduction to $27.04 in early 2013. After this trough, the price generally trends upward, reaching $169.14 in early 2023 before a moderate decline to $144.99 in early 2024. This pattern indicates periods of rapid appreciation and depreciation, reflecting potential fluctuations in market sentiment or company performance.
Sales per share demonstrate an overall increasing trend from $1.87 in early 2007 to a peak of $38.65 in early 2013. Subsequently, there is a decline and sideways movement, with values varying between approximately $21.39 and $31.06 in the latter years, suggesting stability in revenue generation per share but at levels lower than the early 2013 peak. The data indicates phases of growth followed by periods of stabilization or moderate decline.
The price-to-sales (P/S) ratio decreases sharply from 27.62 in early 2007 to a low of 0.7 in early 2013, which corresponds with the decline in share price and peak in sales per share. Following this low, the P/S ratio generally increases, reaching 6.88 in early 2023 before dropping to 4.67 in early 2024. This ratio trend reflects changing market valuation relative to sales, with the lowest ratios coinciding with the highest sales per share and lowest share prices, and vice versa in later years.
- Share Price Trends
- High volatility with an early peak in 2008, a significant decline until 2013, followed by a gradual upward trend and recent moderate decline.
- Sales per Share Trends
- Steady growth until 2013, then fluctuating moderate declines and stability, indicating fluctuating but resilient revenue per share.
- Price-to-Sales Ratio Trends
- Sharp decline until 2013 reflecting undervaluation or high sales, then a gradual rise indicating increased valuation relative to sales.
- Insights
- The inverse relationship between share price and sales per share in the early period suggests market skepticism or external factors affecting valuation. The later increase in valuation ratios alongside rising share prices points to renewed investor confidence or improved market conditions.
Comparison to Competitors
First Solar Inc., P/S, long-term trends, comparison to competitors
| 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2024 | ||||||||||||
| Feb 28, 2023 | ||||||||||||
| Mar 1, 2022 | ||||||||||||
| Feb 26, 2021 | ||||||||||||
| Feb 21, 2020 | ||||||||||||
| Feb 22, 2019 | ||||||||||||
| Feb 23, 2018 | ||||||||||||
| Feb 22, 2017 | ||||||||||||
| Feb 24, 2016 | ||||||||||||
| Feb 25, 2015 | ||||||||||||
| Feb 26, 2014 | ||||||||||||
| Feb 27, 2013 | ||||||||||||
| Feb 29, 2012 | ||||||||||||
| Feb 28, 2011 | ||||||||||||
| Feb 22, 2010 | ||||||||||||
| Feb 25, 2009 | ||||||||||||
| Feb 21, 2008 | ||||||||||||
| Mar 16, 2007 |
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., P/S, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| First Solar Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 27, 2024 | ||
| Feb 28, 2023 | ||
| Mar 1, 2022 | ||
| Feb 26, 2021 | ||
| Feb 21, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 26, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 28, 2011 | ||
| Feb 22, 2010 | ||
| Feb 25, 2009 | ||
| Feb 21, 2008 | ||
| Mar 16, 2007 |
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., P/S, long-term trends, comparison to industry (information technology)
| First Solar Inc. | Information Technology | |
|---|---|---|
| Feb 27, 2024 | ||
| Feb 28, 2023 | ||
| Mar 1, 2022 | ||
| Feb 26, 2021 | ||
| Feb 21, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 26, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 28, 2011 | ||
| Feb 22, 2010 | ||
| Feb 25, 2009 | ||
| Feb 21, 2008 | ||
| Mar 16, 2007 |
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).