First Solar Inc
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon PV solar modules. It also designs, manufactures, and sells cadmium telluride solar modules that co… Read more
First Solar Inc (FSLR) - Net Assets
Latest net assets as of December 2025: $9.54 Billion USD
Based on the latest financial reports, First Solar Inc (FSLR) has net assets worth $9.54 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($13.32 Billion) and total liabilities ($3.78 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $9.54 Billion |
| % of Total Assets | 71.6% |
| Annual Growth Rate | N/A |
| 5-Year Change | 60.05% |
| 10-Year Change | 82.98% |
| Growth Volatility | 643.25 |
First Solar Inc - Net Assets Trend (2001–2025)
This chart illustrates how First Solar Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for First Solar Inc (2001–2025)
The table below shows the annual net assets of First Solar Inc from 2001 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $9.54 Billion | +19.56% |
| 2024-12-31 | $7.98 Billion | +19.29% |
| 2023-12-31 | $6.69 Billion | +14.59% |
| 2022-12-31 | $5.84 Billion | -2.07% |
| 2021-12-31 | $5.96 Billion | +7.94% |
| 2020-12-31 | $5.52 Billion | +8.32% |
| 2019-12-31 | $5.10 Billion | -2.22% |
| 2018-12-31 | $5.21 Billion | +2.23% |
| 2017-12-31 | $5.10 Billion | -2.19% |
| 2016-12-31 | $5.21 Billion | -6.05% |
| 2015-12-31 | $5.55 Billion | +10.36% |
| 2014-12-31 | $5.03 Billion | +11.64% |
| 2013-12-31 | $4.50 Billion | +24.89% |
| 2012-12-31 | $3.61 Billion | -1.05% |
| 2011-12-31 | $3.64 Billion | +5.47% |
| 2010-12-31 | $3.45 Billion | +30.24% |
| 2009-12-31 | $2.65 Billion | +75.33% |
| 2008-12-31 | $1.51 Billion | +37.89% |
| 2007-12-31 | $1.10 Billion | +166.69% |
| 2006-12-31 | $411.44 Million | +3033.83% |
| 2005-12-31 | $13.13 Million | -42.01% |
| 2004-12-31 | $22.64 Million | +151.90% |
| 2002-12-31 | $-43.63 Million | -150.53% |
| 2001-12-31 | $-17.41 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Solar Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 679133900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $6.79 Billion | 71.20% |
| Common Stock | $107.00K | 0.00% |
| Other Comprehensive Income | $-155.47 Million | -1.63% |
| Other Components | $2.90 Billion | 30.43% |
| Total Equity | $9.54 Billion | 100.00% |
First Solar Inc Competitors by Market Cap
The table below lists competitors of First Solar Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Gree Electric Appliances Inc of Zhuhai
SHE:000651
|
$20.24 Billion |
|
Henkel AG & Co. KGaA
PINK:HENOF
|
$20.25 Billion |
|
Broadridge Financial Solutions Inc
NYSE:BR
|
$20.28 Billion |
|
VeriSign Inc
NASDAQ:VRSN
|
$20.30 Billion |
|
Weichai Power Co. Ltd
F:WI4
|
$20.22 Billion |
|
IVBIY
PINK:IVBIY
|
$20.20 Billion |
|
Cathay Financial Holding Co Ltd
TW:2882
|
$20.17 Billion |
|
Aristocrat Leisure Limited
PINK:ARLUF
|
$20.17 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Solar Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,977,577,000 to 9,537,993,000, a change of 1,560,416,000 (19.6%).
- Net income of 1,528,229,000 contributed positively to equity growth.
- Share repurchases of 15,525,000 reduced equity.
- Other comprehensive income increased equity by 28,592,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.53 Billion | +16.02% |
| Share Repurchases | $15.53 Million | -0.16% |
| Other Comprehensive Income | $28.59 Million | +0.3% |
| Other Changes | $19.12 Million | +0.2% |
| Total Change | $- | 19.56% |
Book Value vs Market Value Analysis
This analysis compares First Solar Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.25x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | $-0.32 | $199.48 | x |
| 2002-12-31 | $-0.81 | $199.48 | x |
| 2004-12-31 | $0.52 | $199.48 | x |
| 2005-12-31 | $0.27 | $199.48 | x |
| 2006-12-31 | $7.06 | $199.48 | x |
| 2007-12-31 | $14.07 | $199.48 | x |
| 2008-12-31 | $18.42 | $199.48 | x |
| 2009-12-31 | $31.19 | $199.48 | x |
| 2010-12-31 | $39.95 | $199.48 | x |
| 2011-12-31 | $42.34 | $199.48 | x |
| 2012-12-31 | $41.51 | $199.48 | x |
| 2013-12-31 | $47.17 | $199.48 | x |
| 2014-12-31 | $49.46 | $199.48 | x |
| 2015-12-31 | $54.50 | $199.48 | x |
| 2016-12-31 | $50.67 | $199.48 | x |
| 2017-12-31 | $48.87 | $199.48 | x |
| 2018-12-31 | $49.12 | $199.48 | x |
| 2019-12-31 | $48.40 | $199.48 | x |
| 2020-12-31 | $51.75 | $199.48 | x |
| 2021-12-31 | $55.74 | $199.48 | x |
| 2022-12-31 | $54.77 | $199.48 | x |
| 2023-12-31 | $62.28 | $199.48 | x |
| 2024-12-31 | $74.19 | $199.48 | x |
| 2025-12-31 | $88.69 | $199.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Solar Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.02%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 29.28%
- • Asset Turnover: 0.39x
- • Equity Multiplier: 1.40x
- Recent ROE (16.02%) is above the historical average (1.22%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 0.00% | 0.00% | 0.00x | 0.00x | $-25.39 Million |
| 2002 | 0.00% | -5351.84% | 0.03x | 0.00x | $-21.86 Million |
| 2004 | -74.07% | -124.03% | 0.32x | 1.84x | $-19.04 Million |
| 2005 | -49.22% | -13.44% | 0.47x | 7.76x | $-7.77 Million |
| 2006 | 0.97% | 2.94% | 0.23x | 1.41x | $-37.17 Million |
| 2007 | 14.43% | 31.42% | 0.37x | 1.25x | $48.63 Million |
| 2008 | 23.02% | 27.95% | 0.59x | 1.40x | $197.03 Million |
| 2009 | 24.13% | 30.98% | 0.62x | 1.26x | $374.86 Million |
| 2010 | 19.22% | 25.91% | 0.59x | 1.27x | $318.71 Million |
| 2011 | -1.08% | -1.43% | 0.48x | 1.59x | $-403.88 Million |
| 2012 | -2.67% | -2.86% | 0.53x | 1.76x | $-456.89 Million |
| 2013 | 7.79% | 10.60% | 0.48x | 1.53x | $-99.59 Million |
| 2014 | 7.88% | 11.68% | 0.50x | 1.34x | $-106.78 Million |
| 2015 | 10.69% | 14.43% | 0.56x | 1.32x | $38.56 Million |
| 2016 | -7.98% | -14.33% | 0.42x | 1.32x | $-937.38 Million |
| 2017 | -3.25% | -5.63% | 0.43x | 1.35x | $-675.48 Million |
| 2018 | 2.77% | 6.43% | 0.32x | 1.37x | $-376.91 Million |
| 2019 | -2.26% | -3.75% | 0.41x | 1.47x | $-624.61 Million |
| 2020 | 7.22% | 14.69% | 0.38x | 1.29x | $-153.74 Million |
| 2021 | 7.86% | 16.03% | 0.39x | 1.24x | $-127.26 Million |
| 2022 | -0.76% | -1.69% | 0.32x | 1.41x | $-627.77 Million |
| 2023 | 12.42% | 25.03% | 0.32x | 1.55x | $162.03 Million |
| 2024 | 16.20% | 30.72% | 0.35x | 1.52x | $494.29 Million |
| 2025 | 16.02% | 29.28% | 0.39x | 1.40x | $574.43 Million |
Industry Comparison
This section compares First Solar Inc's net assets metrics with peer companies in the Solar industry.
Industry Context
- Industry: Solar
- Average net assets among peers: $369,897,270
- Average return on equity (ROE) among peers: -54.09%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Solar Inc (FSLR) | $9.54 Billion | 0.00% | 0.40x | $20.23 Billion |
| ABCO Energy Inc (ABCE) | $-190.65K | 0.00% | 0.00x | $11.90K |
| Advantagewon Oil Corporation (ANTGF) | $4.62 Million | -26.17% | 0.78x | $547.13K |
| Advanced Powerline Technologies Inc (APWL) | $-2.53 Million | 0.00% | 0.00x | $1.82 |
| Array Technologies Inc (ARRY) | $-21.91 Million | 0.00% | 0.00x | $926.73 Million |
| Ascent Solar Technologies, Inc. Common Stock (ASTI) | $4.59 Million | -430.80% | 3.07x | $18.02 Million |
| Beam Global (BEEM) | $23.21 Million | -84.81% | 0.63x | $26.35 Million |
| Clear Blue Technologies International Inc (CBUTF) | $-2.78 Million | 0.00% | 0.00x | $834.08K |
| China Changjiang Mining & New Energy Co Ltd (CHJI) | $10.11 Million | -6.54% | 0.92x | $2.91K |
| Canadian Solar Inc (CSIQ) | $3.71 Billion | 7.40% | 2.21x | $852.15 Million |
| Complete Solaria, Inc. Common Stock (CSLR) | $-21.39 Million | 0.00% | 0.00x | $89.72 Million |