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FSLRFirst Solar, Inc.

Is the EV/Sales ratio high or low?

The EV/Sales ratio of 4.58x is in line with its 5-year average of 4.89x, around the middle of its 5-year range (2.11x–8.78x).

As of Friday, June 26, 2026. 3.04% below its 12-month average of 4.72x.

EV/EBITDA|P/S Ratio|Revenue|All Metrics
FSLR EV/Sales Ratio

FSLR EV/Sales Ratio Chart

4.58x
+20.53% 1Y
FSLR EV/Sales Ratio

FSLR Average EV/Sales Ratio Chart

FSLR EV/Sales Ratio

FSLR Current vs Average EV/Sales Ratio Chart

FSLR EV/Sales Ratio Metrics

EV/SALES RATIO

4.58x

EV/SALES RATIO AVG TTM

4.72x

EV/SALES RATIO AVG 3Y

5.03x

EV/SALES RATIO AVG 5Y

4.89x

EV/SALES RATIO AVG 10Y

3.35x

EV/SALES RATIO AVG 15Y

2.54x

EV/SALES RATIO AVG 20Y

3.21x

CURRENT VS TTM AVG

-3.04%

CURRENT VS 3Y AVG

-9.02%

CURRENT VS 5Y AVG

-6.34%

CURRENT VS 10Y AVG

+36.71%

CURRENT VS 15Y AVG

+80.04%

CURRENT VS 20Y AVG

+42.81%

FSLR Competitors' EV/Sales Ratio

NAMEMARKET CAPEV/SALES RATIOTTM3Y5Y
First Solar, Inc. (FSLR)$26.72B4.58x4.72x5.03x4.89x
Coterra Energy Inc. (CTRA)vs ›$24.72B3.63x3.63x3.47x3.94x
Halliburton Company (HAL)vs ›$28.76B1.56x1.44x1.52x1.75x
Tenaris S.A. (TS)vs ›$30.69B2.36x2.02x1.60x1.77x
Expand Energy Corporation (EXE)vs ›$21.19B1.71x3.01x2.83x2.33x
EQT Corporation (EQT)vs ›$32.31B3.76x4.93x4.94x3.87x
APA Corporation (APA)vs ›$11.81B1.87x1.53x1.65x1.88x
Antero Midstream Corporation (AM)vs ›$10.78B11.12x10.06x9.38x8.96x
Cameco Corporation (CCJ)vs ›$45.11B17.56x17.10x12.74x10.55x
Enphase Energy, Inc. (ENPH)vs ›$6.22B4.51x4.03x6.61x11.85x

Understanding EV/Sales

Enterprise Value (EV) = Market Cap + Total Debt - Cash

Sales = Total Revenue (TTM)

EV/Sales is commonly used because:

  • It works for unprofitable companies where P/E doesn't apply
  • Revenue is harder to manipulate than earnings
  • It supports comparisons across companies at different profitability stages
  • It is frequently used for software and other revenue-growth-focused companies

Note: EV/Sales does not include margin, debt maturity, cash conversion, or growth durability by itself.

EV/Sales Ratio Formula & Definition

EV/Sales = Enterprise Value / Revenue (TTM)

Enterprise value to sales compares total company value to revenue, useful across capital structures and for unprofitable companies.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

EV/Sales Ratio FAQ

What is the EV/Sales ratio for First Solar, Inc. (FSLR)?
The EV/Sales ratio for FSLR stock is 4.58x.
Is First Solar, Inc.'s EV/Sales ratio high or low?
The EV/Sales ratio of 4.58x is in line with its 5-year average of 4.89x, around the middle of its 5-year range (2.11x–8.78x).
What is the TTM average EV/Sales ratio for First Solar, Inc. (FSLR)?
The TTM average EV/Sales ratio for FSLR stock is 4.72x.
What is the 3Y average EV/Sales ratio for First Solar, Inc. (FSLR)?
The 3Y average EV/Sales ratio for FSLR stock is 5.03x.
What is the 5Y average EV/Sales ratio for First Solar, Inc. (FSLR)?
The 5Y average EV/Sales ratio for FSLR stock is 4.89x.
What is the 10Y average EV/Sales ratio for First Solar, Inc. (FSLR)?
The 10Y average EV/Sales ratio for FSLR stock is 3.35x.
What is the 15Y average EV/Sales ratio for First Solar, Inc. (FSLR)?
The 15Y average EV/Sales ratio for FSLR stock is 2.54x.
What is the 20Y average EV/Sales ratio for First Solar, Inc. (FSLR)?
The 20Y average EV/Sales ratio for FSLR stock is 3.21x.

FSLR EV/Sales Ratio History

DATEEV/SALES RATIO
2026-06-254.58x
2026-06-244.57x
2026-06-234.59x
2026-06-224.87x
2026-06-184.76x
2026-06-174.70x
2026-06-164.89x
2026-06-155.07x
2026-06-124.95x
2026-06-115.03x
2026-06-104.59x
2026-06-094.85x
2026-06-085.11x
2026-06-055.18x
2026-06-045.90x
2026-06-035.96x
2026-06-025.82x
2026-06-015.66x
2026-05-295.74x
2026-05-285.67x
2026-05-275.08x
2026-05-265.00x
2026-05-224.76x
2026-05-214.59x
2026-05-204.37x
2026-05-194.05x
2026-05-184.28x
2026-05-154.28x
2026-05-144.24x
2026-05-134.30x
2026-05-124.17x
2026-05-114.28x
2026-05-084.01x
2026-05-073.90x
2026-05-063.97x
2026-05-054.00x
2026-05-043.84x
2026-05-013.85x
2026-04-303.65x
2026-04-293.49x
2026-04-283.60x
2026-04-273.63x
2026-04-243.55x
2026-04-233.61x
2026-04-223.45x
2026-04-213.41x
2026-04-203.53x
2026-04-173.49x
2026-04-163.51x
2026-04-153.58x
2026-04-143.70x
2026-04-133.69x
2026-04-103.76x
2026-04-093.63x
2026-04-083.70x
2026-04-073.52x
2026-04-063.59x
2026-04-023.59x
2026-04-013.67x
2026-03-313.63x
2026-03-303.37x
2026-03-273.48x
2026-03-263.39x
2026-03-253.55x
2026-03-243.54x
2026-03-233.48x
2026-03-203.54x
2026-03-193.68x
2026-03-183.64x
2026-03-173.69x
2026-03-163.67x
2026-03-133.60x
2026-03-123.63x
2026-03-113.69x
2026-03-103.64x
2026-03-093.59x
2026-03-063.46x
2026-03-053.51x
2026-03-043.63x
2026-03-033.63x
2026-03-023.68x
2026-02-273.63x
2026-02-263.69x
2026-02-253.89x
2026-02-244.57x
2026-02-234.94x
2026-02-204.93x
2026-02-194.75x
2026-02-184.86x
2026-02-174.60x
2026-02-134.59x
2026-02-124.48x
2026-02-114.63x
2026-02-104.60x
2026-02-094.51x
2026-02-064.44x
2026-02-054.77x
2026-02-044.85x
2026-02-034.87x
2026-02-024.69x
2026-01-304.58x
2026-01-294.55x
2026-01-285.09x
2026-01-274.79x
2026-01-264.96x
2026-01-234.94x
2026-01-224.89x
2026-01-214.97x
2026-01-204.94x
2026-01-164.97x
2026-01-154.97x
2026-01-144.82x
2026-01-134.92x
2026-01-124.85x
2026-01-094.86x
2026-01-085.03x
2026-01-074.92x
2026-01-065.51x
2026-01-055.57x
2026-01-025.62x
2025-12-315.34x
2025-12-305.41x
2025-12-295.49x
2025-12-265.52x
2025-12-245.58x
2025-12-235.52x
2025-12-225.84x
2025-12-195.47x
2025-12-185.36x
2025-12-175.19x
2025-12-165.29x
2025-12-155.23x
2025-12-125.21x
2025-12-115.59x
2025-12-105.37x
2025-12-095.18x
2025-12-085.23x
2025-12-055.27x
2025-12-045.26x
2025-12-035.23x
2025-12-025.37x
2025-12-015.39x
2025-11-285.59x
2025-11-265.58x
2025-11-255.33x
2025-11-245.31x
2025-11-215.10x
2025-11-205.02x
2025-11-195.14x
2025-11-185.15x
2025-11-175.18x
2025-11-145.17x
2025-11-135.25x
2025-11-125.48x
2025-11-115.41x
2025-11-105.59x
2025-11-075.48x
2025-11-065.57x
2025-11-055.69x
2025-11-045.38x
2025-11-035.44x
2025-10-315.47x
2025-10-304.76x
2025-10-295.97x
2025-10-285.92x
2025-10-276.12x
2025-10-245.96x
2025-10-235.66x
2025-10-225.52x
2025-10-215.60x
2025-10-205.66x
2025-10-175.73x
2025-10-165.87x
2025-10-156.04x
2025-10-145.54x
2025-10-135.58x
2025-10-105.58x
2025-10-095.79x
2025-10-085.71x
2025-10-075.63x
2025-10-065.67x
2025-10-035.68x
2025-10-025.73x
2025-10-015.55x
2025-09-305.45x
2025-09-295.52x
2025-09-265.43x
2025-09-255.51x
2025-09-245.41x
2025-09-235.33x
2025-09-225.41x
2025-09-195.25x
2025-09-185.18x
2025-09-175.20x
2025-09-165.07x
2025-09-155.11x
2025-09-124.98x
2025-09-115.02x
2025-09-105.03x
2025-09-095.01x
2025-09-085.02x
2025-09-055.06x
2025-09-044.98x
2025-09-034.97x
2025-09-024.83x
2025-08-294.82x
2025-08-284.86x
2025-08-274.72x
2025-08-264.86x
2025-08-254.92x
2025-08-224.99x
2025-08-214.74x
2025-08-205.10x
2025-08-195.21x
2025-08-185.42x
2025-08-154.94x
2025-08-144.44x
2025-08-134.56x
2025-08-124.56x
2025-08-114.50x
2025-08-084.56x
2025-08-074.58x
2025-08-064.57x
2025-08-054.61x
2025-08-044.53x
2025-08-014.54x
2025-07-314.31x
2025-07-304.47x
2025-07-294.54x
2025-07-284.58x
2025-07-254.63x
2025-07-244.51x
2025-07-234.49x
2025-07-224.49x
2025-07-214.45x
2025-07-184.39x
2025-07-174.33x
2025-07-164.16x
2025-07-154.29x
2025-07-144.01x
2025-07-114.05x
2025-07-104.12x
2025-07-094.14x
2025-07-084.13x
2025-07-074.42x
2025-07-034.62x
2025-07-024.25x
2025-07-014.06x
2025-06-304.13x
2025-06-273.79x
2025-06-263.88x
2025-06-253.80x
2025-06-243.77x
2025-06-233.60x
2025-06-203.61x
2025-06-183.58x
2025-06-173.58x
2025-06-164.37x
2025-06-134.37x
2025-06-124.19x

Showing the most recent 260 of 4,929 data points. The chart above shows the full history.

Related Metrics

EV/EBITDAP/S RatioRevenueAll Metrics

About First Solar, Inc.

First Solar, Inc. is a global provider of photovoltaic (PV) solar energy solutions, operating in numerous international markets including the United States, Japan, France, Canada, India, and Australia. The company's primary activity involves the engineering, manufacturing, and sale of cadmium telluride solar modules, which are designed to convert solar radiation directly into electricity. Its clientele is broad, serving system developers and operators, utility companies, independent power producers, commercial and industrial businesses, and various other system owners. Founded in 1999, the firm is based in Tempe, Arizona, and underwent a name change in 2006 from its former designation, First Solar Holdings, Inc.

Phoenix, AZ
8,100 employees
www.firstsolar.com
Energy / Solar
Sector
Energy
Industry
Solar
CEO
Mark R. Widmar
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