Stock Analysis on Net
Stock Analysis on Net

First Solar Inc. (NASDAQ:FSLR)

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

Total Asset Turnover 
since 2006

Microsoft Excel

Calculation

First Solar Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
Dec 31, 2023 0.32 = 3,318,602 ÷ 10,365,132
Dec 31, 2022 0.32 = 2,619,319 ÷ 8,251,228
Dec 31, 2021 0.39 = 2,923,377 ÷ 7,413,746
Dec 31, 2020 0.38 = 2,711,332 ÷ 7,108,931
Dec 31, 2019 0.41 = 3,063,117 ÷ 7,515,689
Dec 31, 2018 0.32 = 2,244,044 ÷ 7,121,362
Dec 31, 2017 0.43 = 2,941,324 ÷ 6,864,501
Dec 31, 2016 0.43 = 2,951,328 ÷ 6,867,213
Dec 31, 2015 0.49 = 3,578,995 ÷ 7,316,331
Dec 31, 2014 0.50 = 3,391,814 ÷ 6,724,439
Dec 31, 2013 0.48 = 3,308,989 ÷ 6,883,502
Dec 31, 2012 0.53 = 3,368,545 ÷ 6,348,692
Dec 31, 2011 0.48 = 2,766,207 ÷ 5,777,614
Dec 31, 2010 0.59 = 2,563,515 ÷ 4,380,403
Dec 26, 2009 0.62 = 2,066,200 ÷ 3,349,512
Dec 27, 2008 0.59 = 1,246,301 ÷ 2,114,502
Dec 29, 2007 0.37 = 503,976 ÷ 1,371,312
Dec 30, 2006 0.23 = 134,974 ÷ 578,510

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

Net Sales
Net sales showed a strong upward trajectory between 2006 and 2011, increasing from approximately 135 million US dollars to over 2.7 billion US dollars. This substantial growth phase was followed by fluctuations in the subsequent years, with some declines noticeable especially after 2015. Despite these fluctuations, net sales maintained a relatively high level above 2 billion US dollars and showed signs of recovery toward 2023, reaching over 3.3 billion US dollars, indicating renewed growth momentum.
Total Assets
Total assets consistently increased over the entire period, expanding from around 578 million US dollars in 2006 to more than 10.3 billion US dollars by 2023. The growth in total assets was generally steady, with occasional periods of slower accumulation but no significant reversals. This upward trend reflects ongoing investment and possibly asset acquisitions to support expansion or operational needs.
Total Asset Turnover
The total asset turnover ratio, which measures the efficiency with which assets generate sales, improved notably in the early years from 0.23 in 2006 to a peak of 0.62 in 2009. After this peak, the ratio displayed a declining pattern overall, falling to approximately 0.32 by 2018 and remaining at that level through 2023. This decline suggests decreasing efficiency in using assets to generate revenue, possibly due to rapid asset growth outpacing sales increases or shifts in business operations.

Comparison to Competitors

First Solar Inc., total asset turnover, 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 0.32 0.33 0.25 0.86 0.49 0.28 0.75 0.93 0.24 0.65 0.70 0.54
Dec 31, 2022 0.32 0.35 0.24 0.96 0.45 0.35 0.73 1.00 0.46 0.61 0.90 0.74
Dec 31, 2021 0.39 1.32 0.14 0.89 0.36 0.47 0.67 0.92 0.47 0.58 0.81 0.74
Dec 31, 2020 0.38 1.09 0.26 0.77 0.31 0.51 0.63 0.69 0.40 0.63 0.66 0.75
Dec 31, 2019 0.41 1.12 0.28 0.77 0.33 0.53 0.51 0.80 0.48 0.88 0.74 0.80
Dec 31, 2018 0.32 1.42 0.30 0.97 0.42 0.55 0.72 0.89 0.70 0.86 0.70 0.92
Dec 31, 2017 0.43 1.51 0.24 0.75 0.32 0.51 0.63 0.66 0.58 0.70 0.34 0.85
Dec 31, 2016 0.43 1.29 0.43 0.74 0.26 0.52 0.60 0.48 0.45 0.68 0.45 0.81
Dec 31, 2015 0.49 1.28 0.49 0.63 0.64 0.54 0.58 0.56 0.67 0.65 0.50 0.80
Dec 31, 2014 0.50 1.46 0.42 0.69 0.41 0.61 0.53 0.58 0.73 0.57 0.55 0.74
Dec 31, 2013 0.48 1.22 0.41 0.62 0.74 0.57 0.54 0.50 0.47 0.67 0.55 0.64
Dec 31, 2012 0.53 1.36 0.48 0.72 0.83 0.63 0.62 0.33 0.57 0.72 0.44 0.64
Dec 31, 2011 0.48 1.33 0.57 0.76 0.96 0.76 0.68 0.80 0.60 0.79 0.41 0.67
Dec 31, 2010 0.59 1.31 0.64 0.87 0.97 0.69 0.47 0.86 0.58 0.93 0.36 1.04
Dec 26, 2009 0.62 0.60 0.59 0.52 0.75 0.66 0.42 0.57 0.42 1.02 0.38 0.86
Dec 27, 2008 0.59 0.76 0.84 0.74 — 0.74 0.52 0.88 0.43 1.09 0.45 1.05
Dec 29, 2007 0.37 0.52 0.86 0.91 — 0.69 0.59 1.22 0.38 1.15 0.48 1.09
Dec 30, 2006 0.23 0.43 0.65 0.97 — 0.73 0.45 0.71 0.43 1.24 0.49 1.02

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., total asset turnover, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel
First Solar Inc. Semiconductors & Semiconductor Equipment
Dec 31, 2023 0.32 0.43
Dec 31, 2022 0.32 0.50
Dec 31, 2021 0.39 0.53
Dec 31, 2020 0.38 0.51
Dec 31, 2019 0.41 0.55
Dec 31, 2018 0.32 0.63
Dec 31, 2017 0.43 0.49
Dec 31, 2016 0.43 0.50
Dec 31, 2015 0.49 0.58
Dec 31, 2014 0.50 0.62
Dec 31, 2013 0.48 0.58
Dec 31, 2012 0.53 0.60
Dec 31, 2011 0.48 0.68
Dec 31, 2010 0.59 0.68
Dec 26, 2009 0.62 0.59
Dec 27, 2008 0.59 0.69
Dec 29, 2007 0.37 0.69
Dec 30, 2006 0.23 0.69

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., total asset turnover, long-term trends, comparison to industry (information technology)

Microsoft Excel
First Solar Inc. Information Technology
Dec 31, 2023 0.32 0.61
Dec 31, 2022 0.32 0.65
Dec 31, 2021 0.39 0.62
Dec 31, 2020 0.38 0.58
Dec 31, 2019 0.41 0.59
Dec 31, 2018 0.32 0.59
Dec 31, 2017 0.43 0.51
Dec 31, 2016 0.43 0.55
Dec 31, 2015 0.49 0.63
Dec 31, 2014 0.50 0.64
Dec 31, 2013 0.48 0.66
Dec 31, 2012 0.53 0.70
Dec 31, 2011 0.48 0.73
Dec 31, 2010 0.59 0.72
Dec 26, 2009 0.62 0.69
Dec 27, 2008 0.59 0.79
Dec 29, 2007 0.37 0.76
Dec 30, 2006 0.23 0.75

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).