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 April 27, 2023.

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

First Solar Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Net fixed asset turnover 0.73 0.74 0.81 0.83 0.89 1.10 1.05 1.24 1.24 1.13 1.47 1.34 1.36 1.40 1.12 1.24 1.19 1.28 — — —
Total asset turnover 0.33 0.32 0.34 0.33 0.34 0.39 0.36 0.41 0.42 0.38 0.50 0.44 0.44 0.41 0.33 0.35 0.30 0.32 — — —
Equity turnover 0.48 0.45 0.43 0.42 0.42 0.49 0.45 0.51 0.52 0.49 0.65 0.60 0.59 0.60 0.45 0.48 0.43 0.43 — — —

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. First Solar Inc. net fixed asset turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. First Solar Inc. total asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. First Solar Inc. equity turnover ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

Net Fixed Asset Turnover

First Solar Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 548,286 1,002,391 628,933 620,955 367,040 907,319 583,504 629,180 803,374 609,232 927,565 642,411 532,124 1,399,377 546,806 584,956 531,978 691,241 676,220 309,318 567,265
Property, plant and equipment, net 3,858,604 3,536,902 3,124,079 2,988,979 2,785,824 2,649,587 2,505,921 2,396,641 2,397,986 2,402,285 2,386,591 2,324,413 2,244,175 2,181,149 2,106,968 2,006,334 1,859,293 1,756,211 1,671,129 1,484,177 1,311,642
Long-term Activity Ratio
Net fixed asset turnover1 0.73 0.74 0.81 0.83 0.89 1.10 1.05 1.24 1.24 1.13 1.47 1.34 1.36 1.40 1.12 1.24 1.19 1.28 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 15.38 15.60 15.36 14.97 13.43 23.41 20.71 19.88 16.77 15.23 14.53 13.07 13.42 13.46 — — — — — — —
Analog Devices Inc. 4.98 5.00 5.09 4.66 4.14 3.70 5.54 5.34 5.19 5.00 4.87 4.66 4.77 4.91 5.03 5.15 5.27 5.37 — — —
Applied Materials Inc. 10.53 11.18 11.47 11.99 12.25 11.93 11.92 11.21 11.11 10.72 10.63 10.06 9.66 9.55 9.83 10.56 11.54 12.26 — — —
Broadcom Inc. 15.63 14.94 14.08 13.26 12.38 11.69 11.19 10.58 9.89 9.52 9.04 8.74 8.66 8.81 8.53 8.22 7.94 7.91 — — —
Intel Corp. 0.66 0.78 0.92 1.02 1.16 1.25 1.31 1.33 1.36 1.38 1.32 1.36 1.33 1.30 — — — — — — —
KLA Corp. 10.79 10.84 10.69 11.39 10.68 10.44 10.27 10.22 10.56 11.17 11.26 10.77 10.29 10.18 10.64 14.05 14.29 14.10 — — —
Lam Research Corp. 10.47 10.46 10.72 10.99 11.48 11.22 10.37 9.87 9.75 9.37 9.17 9.12 9.21 9.12 10.01 10.73 11.49 12.27 — — —
Micron Technology Inc. 0.69 0.80 0.88 0.86 0.84 0.83 0.79 0.74 0.68 0.69 0.67 0.66 0.70 0.83 0.99 1.14 1.27 1.28 — — —
NVIDIA Corp. 10.13 9.69 9.67 9.26 8.49 7.76 7.18 6.65 6.87 6.52 6.60 6.86 7.28 8.34 — — — — — — —
ON Semiconductor Corp. 2.23 2.38 2.92 2.81 2.81 2.67 2.61 2.41 2.19 2.09 2.07 2.06 2.10 2.13 — — — — — — —
Qualcomm Inc. 8.24 8.55 8.36 8.02 7.63 7.36 7.36 7.03 6.62 6.34 5.74 7.37 7.73 7.88 8.32 7.21 7.33 7.64 — — —
Texas Instruments Inc. 2.54 2.91 3.11 3.30 3.49 3.57 4.37 4.56 4.49 4.42 4.31 4.28 4.37 4.35 — — — — — — —

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Net fixed asset turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Property, plant and equipment, net
= (548,286 + 1,002,391 + 628,933 + 620,955) ÷ 3,858,604 = 0.73

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. First Solar Inc. net fixed asset turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

Total Asset Turnover

First Solar Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 548,286 1,002,391 628,933 620,955 367,040 907,319 583,504 629,180 803,374 609,232 927,565 642,411 532,124 1,399,377 546,806 584,956 531,978 691,241 676,220 309,318 567,265
Total assets 8,564,596 8,251,228 7,492,817 7,419,369 7,399,225 7,413,746 7,268,630 7,248,473 7,108,910 7,108,931 6,985,217 7,072,618 6,949,141 7,515,689 7,054,687 7,137,807 7,256,926 7,121,362 7,094,555 7,025,692 6,840,189
Long-term Activity Ratio
Total asset turnover1 0.33 0.32 0.34 0.33 0.34 0.39 0.36 0.41 0.42 0.38 0.50 0.44 0.44 0.41 0.33 0.35 0.30 0.32 — — —
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 0.34 0.35 0.34 0.32 0.28 1.32 1.33 1.25 1.14 1.09 1.23 1.16 1.24 1.12 — — — — — — —
Analog Devices Inc. 0.25 0.24 0.22 0.19 0.16 0.14 0.30 0.29 0.27 0.26 0.26 0.26 0.27 0.28 0.28 0.29 0.29 0.30 — — —
Applied Materials Inc. 0.94 0.96 0.96 0.98 0.95 0.89 0.88 0.82 0.78 0.77 0.77 0.71 0.76 0.77 0.79 0.84 0.89 0.97 — — —
Broadcom Inc. 0.47 0.45 0.44 0.42 0.39 0.36 0.35 0.34 0.32 0.31 0.29 0.28 0.28 0.33 0.32 0.31 0.30 0.42 — — —
Intel Corp. 0.30 0.35 0.40 0.43 0.44 0.47 0.47 0.50 0.52 0.51 0.54 0.52 0.51 0.53 — — — — — — —
KLA Corp. 0.75 0.73 0.72 0.70 0.67 0.67 0.65 0.62 0.64 0.63 0.63 0.57 0.53 0.51 0.48 0.77 0.74 0.72 — — —
Lam Research Corp. 0.96 1.00 1.01 0.99 1.01 0.92 0.87 0.78 0.73 0.69 0.74 0.80 0.77 0.80 0.81 1.01 1.00 0.89 — — —
Micron Technology Inc. 0.40 0.46 0.50 0.49 0.48 0.47 0.46 0.43 0.41 0.40 0.39 0.39 0.42 0.48 0.58 0.63 0.71 0.70 — — —
NVIDIA Corp. 0.65 0.61 0.60 0.57 0.63 0.58 0.55 0.52 0.51 0.63 0.63 0.69 0.77 0.88 — — — — — — —
ON Semiconductor Corp. 0.68 0.70 0.73 0.71 0.71 0.70 0.71 0.69 0.63 0.61 0.56 0.55 0.57 0.65 — — — — — — —
Qualcomm Inc. 0.86 0.90 0.90 0.89 0.84 0.81 0.84 0.79 0.71 0.66 0.62 0.77 0.74 0.74 0.74 0.62 0.63 0.70 — — —
Texas Instruments Inc. 0.67 0.74 0.77 0.79 0.75 0.74 0.76 0.81 0.79 0.75 0.75 0.78 0.82 0.80 — — — — — — —

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Total asset turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Total assets
= (548,286 + 1,002,391 + 628,933 + 620,955) ÷ 8,564,596 = 0.33

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. First Solar Inc. total asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Equity Turnover

First Solar Inc., equity turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 548,286 1,002,391 628,933 620,955 367,040 907,319 583,504 629,180 803,374 609,232 927,565 642,411 532,124 1,399,377 546,806 584,956 531,978 691,241 676,220 309,318 567,265
Stockholders’ equity 5,868,728 5,836,055 5,828,337 5,895,827 5,875,175 5,959,551 5,830,075 5,783,635 5,694,780 5,520,928 5,396,113 5,226,796 5,168,622 5,096,767 5,182,483 5,135,124 5,129,161 5,212,403 5,170,957 5,110,828 5,159,371
Long-term Activity Ratio
Equity turnover1 0.48 0.45 0.43 0.42 0.42 0.49 0.45 0.51 0.52 0.49 0.65 0.60 0.59 0.60 0.45 0.48 0.43 0.43 — — —
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 0.42 0.43 0.42 0.39 0.34 2.19 2.08 1.89 1.76 1.67 2.24 2.31 2.39 2.38 — — — — — — —
Analog Devices Inc. 0.34 0.33 0.30 0.26 0.23 0.19 0.53 0.51 0.48 0.47 0.47 0.48 0.49 0.51 0.52 0.53 0.54 0.56 — — —
Applied Materials Inc. 1.96 2.11 2.08 2.14 2.03 1.88 1.79 1.65 1.59 1.63 1.70 1.71 1.73 1.78 1.83 1.92 2.05 2.52 — — —
Broadcom Inc. 1.48 1.46 1.52 1.43 1.24 1.10 1.09 1.07 1.03 1.00 0.98 0.96 0.93 0.91 1.04 0.98 0.92 0.78 — — —
Intel Corp. 0.58 0.62 0.70 0.73 0.75 0.83 0.87 0.91 0.97 0.96 1.05 0.96 0.99 0.93 — — — — — — —
KLA Corp. 4.69 6.57 2.12 2.02 1.93 2.05 2.07 2.07 2.16 2.18 2.43 1.98 1.84 1.72 1.54 2.69 2.65 2.49 — — —
Lam Research Corp. 2.43 2.74 2.78 2.55 2.71 2.43 2.47 2.17 2.04 1.94 2.12 2.18 1.92 2.07 1.97 1.88 2.05 1.70 — — —
Micron Technology Inc. 0.55 0.62 0.66 0.65 0.65 0.63 0.60 0.58 0.55 0.55 0.54 0.53 0.57 0.65 0.76 0.87 0.93 0.94 — — —
NVIDIA Corp. 1.12 1.01 1.02 1.04 1.03 0.99 0.96 0.94 0.90 0.89 0.89 0.99 1.11 1.25 — — — — — — —
ON Semiconductor Corp. 1.29 1.35 1.43 1.41 1.44 1.47 1.54 1.56 1.50 1.49 1.52 1.63 1.68 1.67 — — — — — — —
Qualcomm Inc. 2.28 2.45 2.63 2.95 3.18 3.37 3.98 3.96 3.62 3.87 6.05 8.13 5.43 4.94 4.62 5.49 5.95 24.50 — — —
Texas Instruments Inc. 1.28 1.37 1.39 1.39 1.35 1.38 1.45 1.50 1.52 1.57 1.65 1.79 1.83 1.61 — — — — — — —

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Equity turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Stockholders’ equity
= (548,286 + 1,002,391 + 628,933 + 620,955) ÷ 5,868,728 = 0.48

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. First Solar Inc. equity turnover ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.