NAS10029,297−1.73%S&P7,695−0.63%GOLD$4,020−0.79%BTC$80,710−0.69%VIX16.75−0.95%latest tape · as of 18:02 UTC
The Screen · Technology · Solar
First Solar
FSLR · a US exchange · USD · Market cap $18.6B · 7,900 employees
First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.
Positioning political selling, disclosed 2026-09-11
Options put/call open interest 0.19, read 2026-10-28
Ethical passes the values gate
Price176.30 USD
Fair value337.50
Ethical score86.4/100
RatingSTRONG OPPORTUNITY
Our investment reviews on this name
2026-10-23Read Markdown172.64+2.1% to today Distribution gives way to Markdown first Markdown read since July
2026-10-02Read Distribution172.97+1.9% to today Markup gives way to Distribution after a 19% slide in 5 weeks
2026-08-30Read Markup214.28-17.7% to today Markdown gives way to Markup
2026-07-30Read Markdown205.83-14.3% to today ✓Accumulation gives way to Markdown after a 26% slide in 4 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
First Solar holds its Markdown at $176.30. Elevated stress, defensive posture warranted, held for 1 days.
As held on the ledger · 2026-10-28
Phase
Markdown · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 1 days
Price at the screen
$176.30
Valuation
10.64 trailing · 7.33 forward price to earnings
Values screen
PASS· score 86.4
Beta
1.79
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
4.92%
Below 33%
Interest-bearing debt is just 4.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.39%
Below 33%
Cash held in interest-bearing accounts and securities is 0.4% of assets, under the one-third limit.
Pass
Receivables
30.76%
Below 49%
Money owed to the company is 30.8% of assets, under the 49% limit.
Pass
Revenue purity
1.57%
Below 5%
Only 1.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
First Solar clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 5%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when FSLR's ethical verdict changes
Today FSLR passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads STRONG OPPORTUNITY: it trades at roughly a 91% discount to our $337.50 fair value, moderate competitive moat.
Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. A 91.4% margin of safety to the base estimate.
Third-party analyst targets: 30 covering, consensus Buy. The average target sits +53% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Sunlight Turned Into Grid Power at Scale
Picture a desert field where thin film panels quietly turn dawn light into electricity that utilities actually pay for. First Solar stands out because revenue is rising 24 percent, profit margins sit at 31 percent and the shares trade on a forward multiple of just 9 times earnings despite an 18 percent return on equity and a moderate moat. Our fair value sits 50 percent above the current price, giving the business real room even after analyst targets of 254 dollars.
The company keeps passing the ethical screen because its technology avoids the heavy metals and supply chain issues that trip up many rivals in the sector. Growth remains visible across the United States and key export markets while cash generation supports further expansion without stretching the balance sheet.
Risks are real. Policy support can shift with elections, larger crystalline silicon makers continue to cut costs and any slowdown in utility demand would hit volumes quickly. The solar cycle is unforgiving when subsidies fade or interest rates stay high. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FSLR trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-29Markdown$176.30+2.1%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.1% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$172.64+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$172.64+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markdown$172.64+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$172.64+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$172.64+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown · changed$172.64+0.0%Entry 10
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Distribution$172.64+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$172.64-2.9%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.9% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $274.
2026-10-14Distribution$177.82+2.8%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 2.8% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (30 analysts) rates it buy, with a mean price target of $275.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
