First Solar, Inc.(FSLR) – Continuing the steady progress from Q1FY23

First Solar, Inc. (FSLR) (Q2FY23)

Stock Performance: Over the past 3 years, First Solar generated returns of 174% where the stock price increased from $61.67 in Sep 21, 2020, to $169.24 on Sep 20, 2023. The stock had a 200-Day Moving Average of $186.68 and a 50-day Moving Average of $189.74.

In the past 1 year, FSLR delivered returns of 32% where the stock price increased from $128.21 on Sep 26, 2022, to $169.24 on Sep 20, 2023. The stock had a 52 Week High of $232 and a 52 Week Low of $115.6.

Over the past 3 months, FSLR’s stock price decreased by -10% from $187.08 in Jun 22, 2023, to $169.24 on Sep 20, 2023.

Quarter Performance: In Q2FY23, FSLR’s revenue grew by 31% to $810.7mn from $621mn in Q2FY22. In Q2FY23, the Net income of the company increased by 206% to $170.6mn from $55.8mn in Q2FY22 and the EPS grew by 205% to $1.59 from $0.52 in Q2FY22.

Guidance: For FY23, FSLR expects its net sales to be in the range of $3.4bn to $3.6bn and the gross margin to be in the range of $1.2bn to $1.3bn.

Highlights

In Q2FY23, FSLR continued the steady progress established in Q1FY23 as it ramped up production and delivery of its next generation Series 7 modules, reinforced its global leadership in thin film PV with a strategic acquisition, and continued strong bookings and ASP momentum.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10-Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 33

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