FSLR First Solar, Inc. - Common Stock
NASDAQ · Semiconductors · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 30, 2026FSLR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About First Solar, Inc. - Common Stock Company overview from Wikipedia
First Solar, Inc. is an American publicly traded manufacturer of solar panels. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor.
The predecessor company, Solar Cells, Inc., was founded in 1990 by inventor Harold McMaster. In 1999, Solar Cells, Inc., was purchased by True North Partners, LLC, led by Michael Ahearn, and rebranded as First Solar, Inc.
The company went public in 2006, trading on the NASDAQ as FSLR. It has been listed on the Photovoltaik Global 30 Index since the beginning of this stock index in 2009. Its current chief executive is Mark Widmar, who succeeded the previous CEO, James Hughes, on July 1, 2016.
First Solar operates three manufacturing facilities in Ohio, one in Alabama, and one in Louisiana. As of March 2026, the company had approximately 14 GW of annual domestic nameplate capacity.
Technology
First Solar manufactures cadmium telluride (CdTe)-based photovoltaic (PV) modules, which produce electricity with a thin film CdTe semiconductor. This technology provides superior performance in degradation rate, temperature coefficient, spectral response, and shading response. At each First Solar manufacturing facility, a vertically integrated, continuous process enables full quality control under one roof, converting a sheet of glass into a fully functional solar panel in approximately four hours. First Solar's manufacturing process uses 98 percent less semiconductor material than traditional crystalline silicon solar panels and yields the lowest carbon footprint, lowest water footprint, and fastest energy payback time in the industry.
In 2013, the company produced CdTe-panels with an efficiency of about 14 percent at a reported cost of 59 cents per watt. In August 2019, researchers from NREL and First Solar published a Nature Energy article demonstrating a way to achieve 20.8% solar cell efficiency. Currently, Series 7 TR1 modules, with an efficiency rating of up to 19.7%, represent topline efficiency among First Solar's module lineup.
History
In 1984, inventor and entrepreneur Harold McMaster founded Glasstech Solar. After conducting research on amorphous silicon, he shifted to CdTe and founded Solar Cells, Inc. (SCI) in 1990. In February 1999, SCI was acquired by True North Partners, which then formed First Solar, LLC.
The company is headquartered in Phoenix, Arizona, and has manufacturing facilities in Perrysburg, Ohio; Trinity, Alabama; New Iberia, Louisiana; Kulim, Malaysia; Ho Chi Minh City, Vietnam; and Chennai, India.
At the end of 2009, First Solar had surpassed an energy power production rate of 1 GW and was the largest producer of PV cells in the world. That same year, First Solar became the first solar panel manufacturing company to lower its manufacturing cost to $1 per watt.
In July 2010, First Solar formed a utility systems business group to address the large-scale PV systems solutions market. Utility systems are now the company's core business focus, with a strategy to focus on markets that do not require subsidies to support the solar generation business.
On April 17, 2012, First Solar announced it would restructure operations worldwide. This restructuring process included phasing out operations in Frankfurt (Oder), Germany and idling four production lines in Kulim, Malaysia. Approximately 30% of First Solar's workforce was laid off as a result of these actions, which were blamed on market volatility and reduced demand. Mark Widmar, then the CFO of First Solar, said, "We need to resize our business to a level of demand that is highly reliable and predictable."
On July 1, 2016, Mark Widmar was appointed CEO of First Solar. Previously he had been chief financial officer. Former CEO Mike Ahearn remains chairman of the board.
In 2022, under the Inflation Reduction Act, First Solar became perhaps the biggest beneficiary of an estimated $1 trillion in environmental spending. First Solar executives and lobbyists met at least four times in late 2022 and 2023 with administration officials who oversaw the measure's environmental provisions. Democratic donors had invested heavily in the company prior to the act being signed into law.
In May 2023, First Solar acquired Evolar, a European company that provided perovskite technology. The deal was valued at $38M USD.
In 2024, First Solar communicated an audit had discovered use of forced labor in a Malaysian factory that produces parts for the company.
Market history
Historically, First Solar sold its products to solar project developers, system integrators, and independent power producers. Early sales were primarily in Germany because of strong incentives for solar enacted in the German Renewable Energy Sources Act (EEG) of 2000 (cp. Solar power in Germany). Declines and uncertainty in feed-in-tariff subsidies for solar power in European markets, including Germany, France, Italy and Spain, prompted major PV manufacturers, such as First Solar, to accelerate their expansion into other markets, including the U.S., India and China.
Beginning in December 2011, First Solar shifted away from existing markets that are heavily dependent on government subsidies and toward providing utility-scale PV systems in sustainable markets with immediate need. As a result, it began competing against conventional power generators, and reduced its focus on the rooftop market.
On February 24, 2009, First Solar's cost per watt broke $1 reaching $0.98. In 2023, the company sold 11.4 GW of solar modules. Production costs of 18.8 cents/watt were forecast in February 2024, with average sales prices of 18.2 cent/kWh for sales of around 16 GW in 2024. In 2024, the company sold a record 14.1 GW of solar modules.
First Solar sold $857 million in Inflation Reduction Act transferable tax credits generated from its U.S.-based manufacturing facilities in February 2025. The tax credits were from the sale of solar modules produced in 2024 at First Solar's U.S. manufacturing facilities, including three factories in Ohio and a new Alabama facility.
Production history
Commercial production started in Perrysburg, Ohio, in 2002. Between 2007 and 2012, production grew with additional plants in Frankfurt (Oder) in Germany; and Kulim Hi-Tech Park in Malaysia. The German factories are no longer in operation. Other locations considered for expansions before 2012 included Mesa, Arizona. International expansion has also included new factories in Ho Chim Minh City, Vietnam (commissioned in 2018) and Tamil Nadu, India (2024). Two new manufacturing facilities were commissioned in Ohio (in 2019 and 2023). A new manufacturing facility was commission in Trinity, Alabama, in 2024, followed by a new facility in New Iberia, Louisiana, in 2025. A new finishing facility is expected to open in Gaffney, South Carolina, in the second half of 2026.
Market performance
While First Solar witnessed record sales of over $3.37 billion in 2012, its restructuring efforts impacted the bottom line, leading to a net loss of $96.3 million – or $1.11 per share – for the year.
Historically, the low cost of First Solar's modules has been the key to its market performance. The use of cadmium telluride instead of silicon allowed it to achieve a significantly lower module cost ($0.67 per watt), compared to crystalline-silicon PV, which averaged $1.85 per watt in 2010.
As the company shifts its focus away from module sales to utility-scale projects, it will need to become price competitive with non-solar power sources, a move which its executives say will require the company to reduce manufacturing costs and optimize efficiency.
Installations
First Solar had installed 1,505 megawatt (1.5 gigawatt) of solar capacity as of 2012. As of 2019, First Solar has over 17 gigawatt deployed globally. Below are some of First Solar's solar installations and development projects:
North America
802 MW Copper Mountain Solar Facility near Boulder City, NV, constructed in 5 phases for Sempra Energy and Consolidated Edison.
550 MW Topaz Solar Farm in San Luis Obispo County, CA, acquired by MidAmerican Energy Holdings.
550 MW Desert Sunlight Solar Farm in Riverside County, CA, acquired by NextEra Energy and GE Energy Financial Services.
290 MW Agua Caliente Solar Project in Yuma County, AZ, constructed for NRG Energy and MidAmerican Renewables.
230 MW Antelope Valley Solar Ranch in Los Angeles, CA, completed 2014 and acquired by Exelon Corp.
80 MW Sarnia Solar Farm in Ontario, Canada, completed, owned by Enbridge.
50 MW Silver State North Solar Project, in Boulder County, NV, completed, acquired by Enbridge.
Europe, Middle East, and North Africa
Mohammed bin Rashid Al Maktoum Solar Park in Saih Al-Dahal, UAE, includes a 13 MWDC solar power plant built by First Solar for the Dubai Electricity & Water Authority (DEWA).
Stadtwerke Trier (SWT) in Trier, Germany, is one of the world's largest thin-film solar plants. As of February 2009, it was estimated the facility would produce over 9 GWh per year, which would supply power to more than 2,400 homes each year. Additionally, it is estimated the facility will conserve 100,000 tons of CO2 over 20 years.
The Ramat Hovav solar field is the largest PV power plant built so far in Israel's solar power sector. Constructed by Belectric over a previous evaporation pond, it has a nominal capacity of 37.5 MW. The facility became fully operational in December 2014.
Waldpolenz Solar Park near Leipzig, Germany, was built and developed by Juwi Group, and has a capacity of 40 MW. The facility became fully operational in 2008.
In December 2009, the Lieberose Photovoltaic Park, Germany's biggest conversion land project (126 hectares) on a former military training area, was opened with an output of 53 MW. The solar park uses 700,000 solar modules.
For the Sports Stadium Bentegodi in Verona, Italy, First Solar supplied more than 13,000 thin film modules for a rooftop installation.
Asia and Australia
10 MW Greenough River Solar Farm in Western Australia, completed for Verve Energy and GE Energy Financial Services.
159 MW AGL Energy projects, to be constructed in Nyngan and Broken Hill, New South Wales. The 53 MW Broken Hill project was completed in 2015.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | FSLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 10.85Y avg ≈-58.0 | ≈-58.0 | 72.7 | Undervalued | |
| P/S (TTM) | 3.55Y avg ≈4.9 | ≈4.9 | 10.0 | Undervalued | |
| P/B (MRQ) | 1.85Y avg ≈2.5 | ≈2.5 | 9.8 | Undervalued | |
| EV / EBITDA | 7.65Y avg ≈21.2 | ≈21.2 | 34.3 | Undervalued | |
| Price / FCF (TTM) | 12.55Y avg ≈-124.0 | ≈-124.0 | · | · | |
| Price / Cash Flow (TTM) | 8.75Y avg ≈23.4 | ≈23.4 | 40.3 | Undervalued | |
| EV / Revenue | 3.15Y avg ≈4.5 | ≈4.5 | · | · | |
| EV / FCF | 13.75Y avg ≈-113.8 | ≈-113.8 | · | · | |
| Price / Tangible Book (MRQ) | 1.85Y avg ≈2.5 | ≈2.5 | · | · | |
| PEG Ratio | ≈0.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | FSLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 44.0%5Y avg ≈30.3% | ≈30.3% | 60.6% | Weak | |
| Operating Margin (TTM) | 33.6%5Y avg ≈21.7% | ≈21.7% | 19.4% | Top tier | |
| EBITDA Margin (TTM) | 44.3%5Y avg ≈31.5% | ≈31.5% | 25.7% | Top tier | |
| Pretax Margin (TTM) | 33.9%5Y avg ≈22.1% | ≈22.1% | 17.8% | Top tier | |
| Net Profit Margin (TTM) | 32.5%5Y avg ≈19.9% | ≈19.9% | 22.4% | Top tier | |
| ROA (TTM) | 13.3%5Y avg ≈7.7% | ≈7.7% | 1.2% | Top tier | |
| ROE (TTM) | 18.5%5Y avg ≈10.7% | ≈10.7% | 2.5% | Top tier | |
| ROIC | 15.7%5Y avg ≈10.5% | ≈10.5% | 6.3% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | FSLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.05Y avg ≈0.0 | ≈0.0 | 0.2 | Low debt | |
| Current Ratio (MRQ) | 2.55Y avg ≈3.3 | ≈3.3 | 2.8 | Low liquidity | |
| Quick Ratio | 1.85Y avg ≈1.9 | ≈1.9 | 1.6 | In line | |
| Long-Term Debt / Equity (MRQ) | 0.05Y avg ≈0.0 | ≈0.0 | 0.1 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | FSLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 24.1%5Y avg ≈15.0% | ≈15.0% | · | · | |
| Revenue CAGR 3Y | 25.8%5Y avg ≈15.2% | ≈15.2% | · | · | |
| Revenue CAGR 5Y | 14.0% | · | · | · | |
| EPS YoY | 18.2%5Y avg ≈30.3% | ≈30.3% | · | · | |
| Net Income YoY | 18.3%5Y avg ≈30.5% | ≈30.5% | · | · | |
| EPS CAGR 3Y | 40.0% | · | · | · | |
| EPS CAGR 5Y | 30.7% | · | · | · | |
| Net Income CAGR 3Y | 40.2% | · | · | · | |
| Net Income CAGR 5Y | 30.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | FSLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.5 | Weak | |
| Inventory Turnover | 3.45Y avg ≈3.2 | ≈3.2 | 2.4 | Top tier | |
| Receivables Turnover | 4.15Y avg ≈6.1 | ≈6.1 | 5.9 | Weak | |
| Revenue / Employee | ≈$660.7K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $3.92 | $2.89 | 35.5% |
| March 31, 2026 | $3.22 | $2.93 | 10.0% | |
| Dec. 31, 2025 | $3.22 | $2.93 | 10.0% | |
| Sept. 30, 2025 | $4.24 | $4.34 | -2.3% | |
| June 30, 2025 | $3.18 | $2.71 | 17.5% | |
| March 31, 2025 | $1.95 | $2.55 | -23.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.22B | $4.21B | $3.32B | $2.62B | $2.92B | $2.71B | $3.06B | $2.24B | $2.94B | $2.90B | $4.11B | $3.39B | |
| Cost of Revenue | $3.10B | $2.35B | $2.02B | $2.55B | $2.19B | $2.03B | $2.51B | $1.85B | $2.39B | $2.27B | $2.98B | $2.57B | |
| Gross Profit | $2.12B | $1.86B | $1.30B | $70M | $730M | $681M | $549M | $392M | $549M | $638M | $1.13B | $825M | |
| R&D Expense | $233M | $191M | $152M | $113M | $99M | $94M | $97M | $84M | $89M | $125M | $131M | $144M | |
| SG&A Expense | $204M | $188M | $198M | $165M | $170M | $223M | $205M | $177M | $203M | $262M | $255M | $254M | |
| Operating Expenses | $523M | $465M | $450M | $351M | $290M | $363M | $711M | $352M | $371M | $1.21B | $403M | $403M | |
| Operating Income | $1.60B | $1.39B | $857M | $-27M | $587M | $317M | $-162M | $40M | $178M | $-568M | $730M | $422M | |
| Interest Expense | · | · | $13M | $12M | $13M | $24M | $27M | $26M | $26M | $21M | $7M | $2M | |
| Interest Income | · | · | · | $33M | $6M | $17M | $49M | $60M | $36M | $25M | $23M | $18M | |
| Other Non-op | $-15M | $-13M | $-29M | $31M | $314.0K | $-12M | $18M | $40M | $24M | $40M | $-6M | $-4M | |
| Pretax Income | $1.58B | $1.41B | $891M | $9M | $572M | $293M | $-120M | $113M | $202M | $-537M | $733M | $432M | |
| Income Tax | $53M | $114M | $61M | $53M | $103M | $-107M | $-5M | $3M | $372M | $23M | $32M | $31M | |
| Net Income | $1.53B | $1.29B | $831M | $-44M | $469M | $398M | $-115M | $144M | $-166M | $-416M | $593M | $396M | |
| EPS (Basic) | $14.25 | $12.07 | $7.78 | $-0.41 | $4.41 | $3.76 | $-1.09 | $1.38 | $-1.59 | $-4.05 | $5.88 | $3.96 | |
| EPS (Diluted) | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 | $-1.09 | $1.36 | $-1.59 | $-4.05 | $5.83 | $3.90 | |
| Shares (Basic) | 107,235,000 | 107,015,000 | 106,795,000 | 106,551,000 | 106,263,000 | 105,867,000 | 105,310,000 | 104,745,000 | 104,328,000 | 102,866,000 | 100,886,000 | 100,048,000 | |
| Shares (Diluted) | 107,537,000 | 107,525,000 | 107,372,000 | 106,551,000 | 106,924,000 | 106,686,000 | 105,310,000 | 106,113,000 | 104,328,000 | 102,866,000 | 101,815,000 | 101,643,000 | |
| EBITDA | $2.13B | $1.82B | $1.17B | $242M | $847M | $550M | $44M | $171M | $270M | $-298M | $775M | $671M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.80B | $1.62B | $1.95B | $1.48B | $1.45B | $1.23B | $1.35B | $1.40B | $2.27B | $1.35B | $1.13B | $1.48B | |
| Short-term Investments | · | · | · | · | · | · | · | · | $720M | $608M | $703M | $509M | |
| Receivables | $1.29B | $1.26B | $661M | $324M | $429M | $266M | $475M | $128M | $212M | $267M | $501M | $135M | |
| Inventory | $737M | $1.08B | $820M | $621M | $666M | $568M | $444M | $388M | $172M | $363M | $380M | $505M | |
| Prepaid Expense | $99M | $75M | $62M | $43M | $28M | $26M | $276M | $243M | $158M | $217M | $249M | $202M | |
| Other Current Assets | $643M | $547M | $392M | $268M | $244M | $252M | $22M | $39M | $43M | $75M | $47M | $75M | |
| Current Assets | $6.03B | $5.09B | $4.63B | $3.79B | $3.19B | $3.01B | $3.60B | $3.86B | $3.83B | $3.79B | $3.35B | $3.08B | |
| PP&E (Net) | $5.68B | $5.41B | $4.40B | $3.54B | $2.65B | $2.40B | $2.18B | $1.76B | $1.15B | $629M | $1.28B | $1.42B | |
| PP&E (Gross) | $8.23B | $7.50B | $6.09B | $5.00B | $3.88B | $3.50B | $3.57B | $3.04B | $2.34B | $2.14B | $2.62B | $2.55B | |
| Accum. Depreciation | $2.56B | $2.09B | $1.69B | $1.46B | $1.23B | $1.10B | $1.39B | $1.28B | $1.18B | $1.51B | $1.34B | $1.13B | |
| Goodwill | $31M | $28M | $30M | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $85M | $85M | |
| Intangibles | $51M | $55M | $65M | $31M | $46M | $56M | $65M | $74M | $80M | $88M | $110M | $119M | |
| Other Non-current Assets | $760M | $698M | $479M | $356M | $439M | $434M | $330M | $99M | $86M | $78M | $70M | $62M | |
| Total Assets | $13.32B | $12.12B | $10.37B | $8.25B | $7.41B | $7.11B | $7.52B | $7.12B | $6.86B | $6.82B | $7.32B | $6.72B | |
| Accounts Payable | $406M | $482M | $207M | $341M | $193M | $183M | $218M | $233M | $120M | $149M | $338M | $215M | |
| Accrued Liabilities | $519M | $509M | $525M | $383M | $288M | $310M | $351M | $442M | $367M | $263M | $409M | $388M | |
| Current Liabilities | $2.25B | $2.08B | $1.31B | $1.04B | $727M | $847M | $1.32B | $845M | $650M | $908M | $961M | $1.00B | |
| Capital Leases | $104M | $66M | $37M | $41M | $146M | $189M | $113M | $0 | · | $207.0K | $691.0K | $1M | |
| Deferred Tax | $70M | $55M | $43M | $29M | $28M | $24M | $6M | · | · | · | · | · | |
| Other Non-current Liabilities | $296M | $234M | $181M | $120M | $256M | $372M | $509M | $468M | $568M | $371M | $392M | $321M | |
| Total Liabilities | $3.78B | $4.15B | $3.68B | $2.42B | $1.45B | $1.59B | $2.42B | $1.91B | $1.77B | $1.61B | $1.77B | $1.73B | |
| Long-term Debt | · | · | · | $185M | $247M | $287M | $483M | $479M | $406M | $197M | $299M | $224M | |
| Total Debt | $283M | $373M | $464M | $184M | $240M | $279M | · | · | · | · | · | · | |
| Common Stock | $107.0K | $107.0K | $107.0K | $107.0K | $106.0K | $106.0K | $105.0K | $105.0K | $104.0K | $104.0K | $102.0K | $100.0K | |
| Retained Earnings | $6.79B | $5.26B | $3.97B | $3.14B | $3.18B | $2.72B | $2.33B | $2.44B | $2.30B | $2.46B | $2.79B | $2.24B | |
| AOCI | $-155M | $-184M | $-174M | $-192M | $-96M | $-62M | $-79M | $-54M | $2M | $-10M | $15M | $50M | |
| Stockholders' Equity | $9.54B | $7.98B | $6.69B | $5.84B | $5.96B | $5.52B | $5.10B | $5.21B | $5.10B | $5.22B | $5.62B | $4.99B | |
| Liabilities + Equity | $13.32B | $12.12B | $10.37B | $8.25B | $7.41B | $7.11B | $7.52B | $7.12B | $6.86B | $6.82B | $7.32B | $6.72B | |
| Shares Outstanding | 107,309,794 | 107,060,000 | 106,847,000 | 106,609,000 | 106,332,000 | 105,980,000 | 105,449,000 | 104,885,000 | 104,468,000 | 104,035,000 | 101,767,000 | 100,288,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $529M | $423M | $308M | $270M | $260M | $233M | $205M | $131M | $115M | $231M | $225M | $217M | |
| Stock-based Comp | $19M | $28M | $34M | $29M | $21M | $29M | $37M | $34M | $35M | $29M | $45M | $44M | |
| Deferred Tax | $38M | $-20M | $-13M | $-6M | $80M | $12M | $-60M | $52M | $241M | $65M | $-30M | $6M | |
| Amort. of Intangibles | $4M | $10M | $10M | $11M | $11M | $11M | $10M | $10M | $8M | $10M | $9M | $1M | |
| Restructuring | · | · | · | · | · | · | $0 | $0 | $37M | $744M | $0 | $0 | |
| Other Non-cash | $-58M | $-506M | $-557M | $625M | $-592M | $-635M | $107M | $-689M | $1.14B | $239M | $-1.16B | $-12M | |
| Operating Cash Flow | $2.06B | $1.22B | $602M | $873M | $238M | $37M | $174M | $-327M | $1.34B | $207M | $-325M | $736M | |
| CapEx | $870M | $1.53B | $1.39B | $904M | $540M | $417M | $669M | $740M | $514M | $229M | $166M | $258M | |
| Investing Cash Flow | $-765M | $-1.56B | $-473M | $-1.19B | $-99M | $-131M | $-362M | $-683M | $-627M | $145M | $-156M | $-388M | |
| Debt Issued | · | · | · | $397M | $129M | $157M | $120M | $291M | $215M | $27M | $146M | $66M | |
| Net Debt Issued | · | · | · | $321M | $57M | $-69M | $120M | $291M | $215M | $27M | $99M | $6M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Financing Cash Flow | $-119M | $25M | $337M | $309M | $41M | $-83M | $75M | $255M | $192M | $-136M | $101M | $-47M | |
| Net Change in Cash | · | $-327M | $472M | $38M | $182M | $-173M | $-116M | $-768M | $915M | $209M | $-399M | $157M | |
| Taxes Paid | $43M | $94M | $91M | · | $38M | $22M | $35M | $59M | $1M | $2M | $31M | $17M | |
| Free Cash Flow | $1.19B | $-308M | $-785M | $-30M | $-303M | $-380M | $-495M | $-1.07B | $826M | $-23M | $-527M | $423M | |
| Levered FCF | · | · | $-797M | $33M | $-313M | $-412M | $-520M | $-1.09B | $848M | $-46M | $-534M | $422M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.6% | 44.2% | 39.2% | 2.7% | 25.0% | 25.1% | 17.9% | 17.5% | 18.7% | 23.8% | 25.7% | 24.4% | |
| Operating Margin | 30.6% | 33.1% | 25.8% | -1.0% | 20.1% | 11.7% | -5.3% | 1.8% | 6.0% | -17.0% | 14.4% | 12.5% | |
| Net Margin | 29.3% | 30.7% | 25.0% | -1.7% | 16.0% | 14.7% | -3.8% | 6.4% | -5.6% | -12.1% | 15.3% | 11.7% | |
| Pretax Margin | 30.3% | 33.4% | 26.9% | 0.33% | 19.6% | 10.8% | -3.9% | 5.0% | 6.9% | -16.0% | 14.5% | 12.7% | |
| EBITDA Margin | 40.7% | 43.2% | 35.1% | 9.3% | 29.0% | 20.3% | 1.4% | 7.6% | 9.2% | -10.1% | 21.6% | 19.8% | |
| ROA | 12.0% | 11.5% | 8.9% | -0.56% | 6.5% | 5.5% | -1.6% | 2.1% | -2.4% | -5.1% | 7.8% | 5.9% | |
| ROE | 16.9% | 16.6% | 12.8% | -0.76% | 8.0% | 7.3% | -2.2% | 2.8% | -3.2% | -6.6% | 10.4% | 8.4% | |
| ROIC | 15.7% | 15.3% | 11.2% | 2.3% | 7.8% | 7.5% | -3.0% | 0.75% | -2.9% | -10.8% | 9.4% | 7.8% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.4 | 3.5 | 3.7 | 4.4 | 3.6 | 2.7 | 4.6 | 5.9 | 4.2 | 3.5 | 3.2 | |
| Quick Ratio | 1.8 | 1.4 | 2.0 | 1.7 | 2.6 | 1.8 | 1.4 | 1.8 | 4.9 | 2.5 | 2.4 | 2.1 | |
| Debt / Equity | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 | · | · | · | · | · | · | |
| LT Debt / Equity | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · | |
| Interest Coverage | · | · | 66.1 | -2.2 | 44.8 | 13.2 | -6.0 | 1.5 | 6.9 | -24.5 | 74.1 | 214.0 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | 0.3 | 0.4 | 0.4 | 0.5 | 0.5 | |
| Inventory Turnover | 3.4 | 2.5 | 2.8 | 4.0 | 3.6 | 4.0 | 6.0 | 6.6 | 8.9 | 6.0 | 6.0 | 5.7 | |
| Receivables Turnover | 4.1 | 4.4 | 6.7 | 6.9 | 8.4 | 7.3 | 10.2 | 13.2 | 12.3 | 7.7 | 11.3 | 25.0 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $88.88 | $74.51 | $62.59 | $54.74 | $56.05 | $52.09 | $48.33 | $49.70 | $48.81 | $50.11 | $54.52 | $50.13 | |
| Revenue / Share | $48.54 | $39.12 | $30.91 | $24.58 | $27.34 | $25.41 | $29.09 | $21.15 | $28.19 | $28.69 | $35.15 | $33.37 | |
| Cash Flow / Share | $19.13 | $11.33 | $5.61 | $8.20 | $2.22 | $0.35 | $1.65 | $-3.08 | $12.85 | $2.01 | $-3.54 | $6.70 | |
| Cash / Share | $26.13 | $15.14 | $18.22 | $13.89 | $13.64 | $11.58 | $12.83 | $13.38 | $21.71 | $12.95 | $11.07 | $14.78 | |
| EPS (TTM) | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 | $-1.09 | $1.36 | $-1.59 | $-4.05 | $5.83 | $3.90 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 24.1% | 26.8% | 26.7% | -10.4% | 7.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 25.8% | 12.9% | 7.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 18.2% | 55.3% | · | · | 17.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | 40.0% | 27.6% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 30.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 18.3% | 55.5% | · | · | 17.7% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | 40.2% | 27.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 30.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.22B | $4.21B | $3.32B | $2.62B | $2.92B | $2.71B | $3.06B | $2.24B | $2.94B | $2.90B | $4.11B | $3.39B | |
| Net Income TTM | $1.53B | $1.29B | $831M | $-44M | $469M | $398M | $-115M | $144M | $-166M | $-416M | $593M | $396M | |
| Market Cap | $28.03B | $18.87B | $18.41B | $15.97B | $9.27B | $10.48B | $5.90B | $4.45B | $7.05B | $3.34B | $6.72B | $4.47B | |
| Enterprise Value | $25.51B | $17.62B | $16.92B | $14.67B | $8.06B | $9.54B | · | · | · | · | · | · | |
| P/E | 18.4 | 14.7 | 22.3 | -365.3 | 19.9 | 26.5 | -51.3 | 31.2 | -42.5 | -7.9 | 11.3 | 11.4 | |
| P/S | 5.4 | 4.5 | 5.5 | 6.1 | 3.2 | 3.9 | 1.9 | 2.0 | 2.4 | 1.1 | 1.6 | 1.3 | |
| P/B | 2.9 | 2.4 | 2.8 | 2.7 | 1.6 | 1.9 | 1.2 | 0.9 | 1.4 | 0.6 | 1.2 | 0.9 | |
| P / Tangible Book | 3.0 | 2.4 | 2.8 | 2.8 | 1.6 | 1.9 | · | · | · | · | · | · | |
| P / Cash Flow | 13.6 | 15.5 | 30.6 | 18.3 | 39.0 | 282.4 | 33.9 | -13.6 | 5.3 | 16.1 | -18.6 | 6.6 | |
| P / FCF | 23.6 | -61.2 | -23.5 | -528.1 | -30.6 | -27.6 | -11.9 | -4.2 | 8.5 | -147.1 | -12.7 | 10.6 | |
| EV / EBITDA | 12.0 | 9.7 | 14.5 | 60.5 | 9.5 | 17.3 | · | · | · | · | · | · | |
| EV / FCF | 21.5 | -57.2 | -21.6 | -485.3 | -26.6 | -25.1 | · | · | · | · | · | · | |
| EV / Revenue | 4.9 | 4.2 | 5.1 | 5.6 | 2.8 | 3.5 | · | · | · | · | · | · | |
| Earnings Yield | 5.4% | 6.8% | 4.5% | -0.27% | 5.0% | 3.8% | -1.9% | 3.2% | -2.4% | -12.6% | 8.8% | 8.7% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.06B | $1.04B | $1.68B | $1.59B | $1.10B | $1.51B | $888M | $1.01B | $794M | $1.16B | $801M | $811M | $548M | $1.00B | $629M | |
| Cost of Revenue | $451M | $558M | $1.02B | $984M | $597M | $946M | $442M | $512M | $448M | $657M | $425M | $500M | $436M | $942M | $608M | |
| Gross Profit | $605M | $486M | $665M | $611M | $500M | $568M | $445M | $499M | $346M | $502M | $376M | $310M | $112M | $61M | $21M | |
| R&D Expense | $76M | $67M | $66M | $61M | $54M | $46M | $50M | $52M | $43M | $44M | $41M | $37M | $31M | $31M | $29M | |
| SG&A Expense | $52M | $65M | $51M | $47M | $53M | $50M | $46M | $47M | $46M | $57M | $50M | $46M | $44M | $43M | $46M | |
| Operating Expenses | $155M | $141M | $117M | $145M | $138M | $111M | $123M | $126M | $104M | $111M | $103M | $142M | $94M | $107M | $95M | |
| Operating Income | $450M | $345M | $548M | $466M | $362M | $457M | $322M | $373M | $243M | $398M | $273M | $169M | $18M | $-46M | $-68M | |
| Interest Expense | · | · | · | · | · | · | · | · | $9M | · | $4M | $1M | $748.0K | · | $3M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | · | $26M | · | $10M | |
| Other Non-op | $-1M | $-3M | $-4M | $-6M | $-3M | $-7M | $-3M | $-565.0K | $-3M | $-28M | $-1M | $997.0K | $-1M | $29M | $5M | |
| Pretax Income | $459M | $354M | $551M | $460M | $352M | $446M | $327M | $377M | $256M | $377M | $290M | $188M | $36M | $-7M | $-62M | |
| Income Tax | $37M | $8M | $30M | $4M | $10M | $53M | $14M | $28M | $19M | $27M | $22M | $18M | $-7M | $976.0K | $-13M | |
| Net Income | $423M | $347M | $521M | $456M | $342M | $393M | $313M | $349M | $237M | $349M | $268M | $171M | $43M | $-8M | $-49M | |
| EPS (Basic) | $3.93 | $3.23 | $4.85 | $4.25 | $3.19 | $3.68 | $2.92 | $3.26 | $2.21 | $3.27 | $2.51 | $1.60 | $0.40 | $-0.06 | $-0.46 | |
| EPS (Diluted) | $3.92 | $3.22 | $4.84 | $4.24 | $3.18 | $3.66 | $2.91 | $3.25 | $2.20 | $3.25 | $2.50 | $1.59 | $0.40 | $-0.06 | $-0.46 | |
| Shares (Basic) | 107,462,000 | 107,355,000 | · | 107,264,000 | 107,245,000 | · | 107,049,000 | 107,042,000 | 106,910,000 | · | 106,834,000 | 106,827,000 | 106,675,000 | · | 106,596,000 | |
| Shares (Diluted) | 107,732,000 | 107,623,000 | · | 107,538,000 | 107,518,000 | · | 107,562,000 | 107,525,000 | 107,407,000 | · | 107,498,000 | 107,278,000 | 107,154,000 | · | 106,596,000 | |
| EBITDA | $450M | $493M | · | $466M | $362M | · | $322M | $373M | $334M | · | $273M | $169M | $87M | · | $-68M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.69B | $2.36B | $2.80B | $1.99B | $1.12B | $1.62B | $1.01B | $1.70B | $1.68B | · | $1.49B | $830M | $907M | · | $1.15B | |
| Receivables | $1.48B | $1.37B | $1.29B | $1.44B | $1.73B | $1.26B | $762M | $648M | $670M | · | $754M | $631M | $299M | · | $325M | |
| Inventory | $1.09B | $894M | $737M | $1.10B | $1.41B | $1.08B | $1.25B | $1.03B | $971M | · | $883M | $756M | $751M | · | $811M | |
| Prepaid Expense | $112M | $113M | $99M | $86M | $95M | $75M | $75M | $79M | $64M | · | $52M | $53M | $45M | · | $47M | |
| Other Current Assets | $741M | $666M | $643M | $635M | $642M | $547M | $529M | $527M | $426M | · | $332M | $352M | $273M | · | $240M | |
| Current Assets | $5.32B | $5.65B | $6.03B | $5.90B | $5.42B | $5.09B | $3.82B | $3.95B | $4.24B | · | $3.82B | $3.66B | $3.62B | · | $3.34B | |
| PP&E (Net) | $5.64B | $5.67B | $5.68B | $5.76B | $5.72B | $5.41B | $5.33B | $5.14B | $4.92B | · | $4.07B | $4.02B | $3.86B | · | $3.12B | |
| PP&E (Gross) | $8.48B | $8.36B | $8.23B | $8.19B | $8.02B | $7.50B | $7.30B | $7.01B | $6.69B | · | $5.76B | $5.63B | $5.39B | · | $4.52B | |
| Accum. Depreciation | $2.83B | $2.69B | $2.56B | $2.43B | $2.30B | $2.09B | $1.98B | $1.87B | $1.78B | · | $1.68B | $1.61B | $1.53B | · | $1.40B | |
| Goodwill | $30M | $31M | $31M | $31M | $31M | $28M | $30M | $29M | $29M | $30M | $28M | $29M | $14M | $14M | $14M | |
| Intangibles | $63M | $65M | $51M | $51M | $52M | $55M | $57M | $59M | $62M | · | $66M | $70M | $28M | · | $37M | |
| Other Non-current Assets | $757M | $767M | $760M | $766M | $702M | $698M | $616M | $555M | $536M | · | $430M | $414M | $387M | · | $311M | |
| Total Assets | $13.39B | $13.35B | $13.32B | $13.46B | $12.86B | $12.12B | $11.44B | $11.01B | $10.76B | · | $9.58B | $9.00B | $8.56B | · | $7.49B | |
| Accounts Payable | $346M | $307M | $406M | $285M | $368M | $482M | $265M | $231M | $239M | · | $111M | $246M | $286M | · | $188M | |
| Accrued Liabilities | $410M | $437M | $519M | $588M | $593M | $509M | $521M | $540M | $528M | · | $600M | $303M | $392M | · | $333M | |
| Current Liabilities | $2.11B | $2.21B | $2.25B | $3.09B | $2.85B | $2.08B | $1.78B | $1.77B | $1.76B | · | $1.20B | $1.09B | $1.17B | · | $816M | |
| Capital Leases | $108M | $105M | $104M | $92M | $49M | $66M | $69M | $32M | $34M | · | $34M | $36M | $38M | · | $45M | |
| Deferred Tax | $62M | $67M | $70M | $56M | $57M | $55M | $53M | $44M | $41M | · | $48M | $44M | $32M | · | $25M | |
| Other Non-current Liabilities | $292M | $300M | $296M | $263M | $222M | $234M | $228M | $174M | $171M | · | $137M | $140M | $121M | · | $474M | |
| Total Liabilities | $3.07B | $3.47B | $3.78B | $4.44B | $4.31B | $4.15B | $3.84B | $3.76B | $3.86B | · | $3.28B | $2.96B | $2.70B | · | $1.66B | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | $499M | $438M | $321M | · | $266M | |
| Total Debt | $0 | $237M | · | $283M | $328M | · | $373M | $419M | $419M | · | $499M | $437M | $320M | · | $260M | |
| Common Stock | $107.0K | $107.0K | $107.0K | $107.0K | $107.0K | $107.0K | $107.0K | $107.0K | $107.0K | · | $107.0K | $107.0K | $107.0K | · | $107.0K | |
| Retained Earnings | $7.56B | $7.14B | $6.79B | $6.27B | $5.81B | $5.26B | $4.87B | $4.56B | $4.21B | · | $3.62B | $3.35B | $3.18B | · | $3.15B | |
| AOCI | $-156M | $-168M | $-155M | $-155M | $-161M | $-184M | $-169M | $-188M | $-184M | · | $-199M | $-186M | $-180M | · | $-200M | |
| Stockholders' Equity | $10.32B | $9.88B | $9.54B | $9.02B | $8.55B | $7.98B | $7.59B | $7.26B | $6.90B | $6.69B | $6.30B | $6.04B | $5.87B | $5.84B | $5.83B | |
| Liabilities + Equity | $13.39B | $13.35B | $13.32B | $13.46B | $12.86B | $12.12B | $11.44B | $11.01B | $10.76B | · | $9.58B | $9.00B | $8.56B | · | $7.49B | |
| Shares Outstanding | 107,469,302 | 107,453,003 | 107,309,794 | 107,307,994 | 107,247,360 | 107,060,281 | 107,057,732 | 107,045,972 | 107,041,246 | 106,847,000 | 106,844,040 | 106,830,548 | 106,825,067 | 106,609,000 | 106,605,913 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $148M | $147M | $141M | $138M | $126M | $124M | $111M | $97M | $91M | $90M | $78M | $72M | $69M | $71M | $67M | |
| Stock-based Comp | $7M | $7M | $3M | $7M | $7M | $6M | $7M | $8M | $7M | $11M | $8M | $8M | $7M | $8M | $12M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | $3M | · | · | |
| Other Non-cash | · | $-716M | · | · | · | · | · | · | $-66M | · | · | · | $-153M | · | · | |
| Operating Cash Flow | $-145M | $-215M | $1.24B | $1.27B | $150M | $811M | $-54M | $193M | $268M | $561M | $165M | $-90M | $-35M | $795M | $129M | |
| CapEx | $161M | $119M | $172M | $204M | $288M | $314M | $434M | $365M | $413M | $347M | $286M | $383M | $371M | $327M | $223M | |
| Investing Cash Flow | $-143M | $-149M | $-187M | $-228M | $-262M | $-221M | $-666M | $-107M | $-569M | $-173M | $444M | $-98M | $-645M | $-570M | $-761M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $60M | $111M | $136M | · | $84M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | $136M | · | · | |
| Financing Cash Flow | $-392M | $-72M | $-244M | $-223M | $447M | $31M | $22M | $-68M | $41M | $61M | $60M | $109M | $108M | $100M | $84M | |
| Net Change in Cash | · | · | · | · | · | · | $-695M | $14M | $-262M | · | $666M | $-78M | $-571M | $333M | $-548M | |
| Free Cash Flow | · | $-333M | · | · | · | · | · | · | $-146M | · | · | · | $-406M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | $-154M | · | · | · | $-406M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.3% | 46.6% | · | 38.3% | 45.6% | · | 50.2% | 49.4% | 43.6% | · | 47.0% | 38.3% | 20.4% | · | 3.3% | |
| Operating Margin | 42.6% | 33.1% | · | 29.2% | 33.0% | · | 36.3% | 36.9% | 30.6% | · | 34.1% | 20.8% | 3.3% | · | -10.9% | |
| Net Margin | 40.0% | 33.2% | · | 28.6% | 31.2% | · | 35.3% | 34.6% | 29.8% | · | 33.5% | 21.0% | 7.8% | · | -7.8% | |
| Pretax Margin | 43.5% | 33.9% | · | 28.9% | 32.1% | · | 36.9% | 37.3% | 32.2% | · | 36.3% | 23.2% | 6.5% | · | -9.8% | |
| EBITDA Margin | 42.6% | 47.2% | · | 29.2% | 33.0% | · | 36.3% | 36.9% | 42.0% | · | 34.1% | 20.8% | 15.8% | · | -10.9% | |
| ROA | 3.2% | 2.7% | · | 3.7% | 2.9% | · | 3.0% | 3.5% | 2.5% | · | 3.1% | 2.1% | 0.53% | · | -0.67% | |
| ROE | 4.5% | 3.8% | · | 5.5% | 4.3% | · | 4.5% | 5.3% | 3.7% | · | 4.4% | 2.9% | 0.72% | · | -0.84% | |
| ROIC | 4.0% | 3.3% | · | 5.0% | 4.0% | · | 3.9% | 4.5% | 3.1% | · | 3.7% | 2.4% | 0.35% | · | -0.89% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.6 | · | 1.9 | 1.9 | · | 2.1 | 2.2 | 2.4 | · | 3.2 | 3.4 | 3.1 | · | 4.1 | |
| Quick Ratio | 1.5 | 1.7 | · | 1.1 | 1.0 | · | 1.0 | 1.3 | 1.3 | · | 1.9 | 1.3 | 1.0 | · | 1.8 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | |
| LT Debt / Equity | 0.0 | 0.0 | · | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 26.4 | · | 73.1 | 119.1 | 24.1 | · | -22.9 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.4 | 0.5 | · | 0.8 | 0.5 | · | 0.4 | 0.6 | 0.5 | · | 0.5 | 0.6 | 0.5 | · | 0.8 | |
| Receivables Turnover | 0.7 | 0.7 | · | 1.4 | 0.9 | · | 1.2 | 1.6 | 1.6 | · | 1.5 | 1.5 | 1.9 | · | 2.2 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $96.03 | $91.93 | · | $84.01 | $79.69 | · | $70.93 | $67.78 | $64.48 | · | $58.99 | $56.53 | $54.94 | · | $54.67 | |
| Revenue / Share | $9.80 | $9.70 | · | $14.83 | $10.20 | · | $8.25 | $9.40 | $7.39 | · | $7.45 | $7.56 | $5.12 | · | $5.90 | |
| Cash Flow / Share | · | $-2.00 | · | · | · | · | · | · | $2.49 | · | · | · | $-0.32 | · | · | |
| Cash / Share | $15.71 | $21.99 | · | $18.57 | $10.49 | · | $9.39 | $15.91 | $15.71 | · | $13.97 | $7.77 | $8.49 | · | $10.80 | |
| EPS (TTM) | $16.22 | $15.48 | · | · | · | · | · | · | · | · | $4.43 | $1.47 | $0.40 | · | $0.88 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.38B | $5.42B | · | · | · | · | · | · | · | · | $3.16B | $2.99B | $2.80B | · | $2.52B | |
| Net Income TTM | $1.75B | $1.67B | · | · | · | · | · | · | · | · | $474M | $156M | $42M | · | $95M | |
| Market Cap | $25.36B | $21.20B | · | $23.66B | $17.75B | · | $26.70B | $24.13B | $18.07B | · | $17.26B | $20.31B | $23.23B | · | $14.10B | |
| Enterprise Value | $23.67B | $19.07B | · | $21.96B | $16.96B | · | $26.07B | $22.85B | $16.81B | · | $16.27B | $19.91B | $22.65B | · | $13.21B | |
| P/E | 14.5 | 12.7 | · | · | · | · | · | · | · | · | 36.5 | 129.3 | 543.8 | · | 150.3 | |
| P/S | 4.7 | 3.9 | · | · | · | · | · | · | · | · | 5.5 | 6.8 | 8.3 | · | 5.6 | |
| P/B | 2.5 | 2.1 | · | 2.6 | 2.1 | · | 3.5 | 3.3 | 2.6 | · | 2.7 | 3.4 | 4.0 | · | 2.4 | |
| P / Tangible Book | 2.5 | 2.2 | · | 2.6 | 2.1 | · | 3.6 | 3.4 | 2.7 | · | 2.8 | 3.4 | 4.0 | · | 2.4 | |
| P / Cash Flow | · | -98.6 | · | · | · | · | · | · | 67.5 | · | · | · | -671.6 | · | · | |
| EV / Revenue | 4.4 | 3.5 | · | · | · | · | · | · | · | · | 5.1 | 6.7 | 8.1 | · | 5.2 | |
| Earnings Yield | 6.9% | 7.8% | · | · | · | · | · | · | · | · | 2.7% | 0.77% | 0.18% | · | 0.67% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $5.22B | $4.21B | $3.32B | $2.62B | $2.92B |
| Gross Margin % | 40.6% | 44.2% | 39.2% | 2.7% | 25.0% |
| Operating Margin % | 30.6% | 33.1% | 25.8% | -1.0% | 20.1% |
| Net Income | $1.53B | $1.29B | $831M | $-44M | $469M |
| Diluted EPS | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 |
| Current Ratio | 2.7 | 2.4 | 3.5 | 3.7 | 4.4 |
| Quick Ratio | 1.8 | 1.4 | 2.0 | 1.7 | 2.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $1.19B | $-308M | $-785M | $-30M | $-303M |
Institutional owners (13F) 1,141 filers · $36.6B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 163 (+7 vs prior Q) | 102 (-89 vs prior Q) | 364 (+26 vs prior Q) | 375 (-8 vs prior Q) | +10.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $3,512,003,027 | 13,444,103 | 9.60% | Shares |
| BlackRock, Inc. | $3,310,298,243 | 14,029,065 | 9.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,738,883,624 | 7,369,400 | 4.75% | Call option |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,613,244,598 | 6,836,941 | 4.41% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,330,447,718 | 5,638,446 | 3.64% | Shares |
| STATE STREET CORP | $1,315,719,095 | 5,576,026 | 3.60% | Shares |
| JANE STREET GROUP, LLC | $1,294,028,236 | 5,484,100 | 3.54% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,237,232,664 | 5,243,400 | 3.38% | Put option |
| JANE STREET GROUP, LLC | $1,122,910,044 | 4,758,900 | 3.07% | Put option |
| CITADEL ADVISORS LLC | $1,046,576,984 | 4,435,400 | 2.86% | Call option |
| Capital World Investors | $970,890,218 | 4,114,639 | 2.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $733,056,154 | 3,109,602 | 2.00% | Shares |
| Hill City Capital, LP | $620,133,555 | 2,628,130 | 1.69% | Shares |
| Invesco Ltd. | $613,370,941 | 2,599,470 | 1.68% | Shares |
| CITADEL ADVISORS LLC | $544,076,568 | 2,305,800 | 1.49% | Put option |
| FMR LLC | $514,207,619 | 2,179,215 | 1.41% | Shares |
| MORGAN STANLEY | $422,488,923 | 1,790,509 | 1.15% | Shares |
| Amundi | $408,344,126 | 1,730,693 | 1.12% | Shares |
| Walleye Trading LLC | $400,471,312 | 1,697,200 | 1.09% | Call option |
| NORGES BANK | $377,192,206 | 1,598,543 | 1.03% | Shares |
| WOLVERINE TRADING, LLC | $322,956,144 | 1,444,800 | 0.88% | Call option |
| DIMENSIONAL FUND ADVISORS LP | $320,635,592 | 1,358,967 | 0.88% | Shares |
| D. E. Shaw & Co., Inc. | $311,332,939 | 1,319,431 | 0.85% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $307,192,548 | 1,301,884 | 0.84% | Shares |
| Clean Energy Transition LLP | $301,612,803 | 1,278,237 | 0.82% | Shares |
| NORTHERN TRUST CORP | $298,424,273 | 1,264,724 | 0.82% | Shares |
| UBS Group AG | $286,693,051 | 1,215,007 | 0.78% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $283,096,111 | 1,435,142 | 0.77% | Shares |
| JPMORGAN CHASE & CO | $276,008,186 | 1,185,601 | 0.75% | Shares |
| Pictet Asset Management Holding SA | $269,948,858 | 1,144,045 | 0.74% | Shares |
| WOLVERINE TRADING, LLC | $269,286,591 | 1,204,700 | 0.74% | Put option |
| SAMLYN CAPITAL, LLC | $246,691,225 | 1,045,479 | 0.67% | Shares |
| Walleye Trading LLC | $224,846,284 | 952,900 | 0.61% | Put option |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $218,144,783 | 924,499 | 0.60% | Shares |
| DEUTSCHE BANK AG\ | $212,626,152 | 901,111 | 0.58% | Shares |
| PEAK6 LLC | $212,505,576 | 900,600 | 0.58% | Call option |
| HSBC HOLDINGS PLC | $190,289,171 | 806,256 | 0.52% | Shares |
| BANK OF AMERICA CORP /DE/ | $171,042,777 | 724,880 | 0.47% | Shares |
| GOLDMAN SACHS GROUP INC | $167,443,314 | 709,626 | 0.46% | Shares |
| Bank of New York Mellon Corp | $164,961,943 | 699,110 | 0.45% | Shares |
| D. E. Shaw & Co., Inc. | $156,583,056 | 663,600 | 0.43% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $156,361,253 | 662,660 | 0.43% | Shares |
| Mirova US LLC | $154,700,331 | 655,621 | 0.42% | Shares |
| Robeco Schweiz AG | $153,827,751 | 651,923 | 0.42% | Shares |
| Legal & General Group Plc | $153,164,702 | 649,113 | 0.42% | Shares |
| CITIGROUP INC | $151,533,512 | 642,200 | 0.41% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $141,378,030 | 599,161 | 0.39% | Shares |
| D. E. Shaw & Co., Inc. | $135,016,312 | 572,200 | 0.37% | Put option |
| Two Seas Capital LP | $111,255,140 | 471,500 | 0.30% | Call option |
| MILLENNIUM MANAGEMENT LLC | $107,196,628 | 454,300 | 0.29% | Call option |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Farhad Fred Ebrahimi, Mary Wilkie Ebrahimi ×10 filings | March 25, 2025 | 4.95% | Amendment | · | SEC |
| Lukas T. Walton ×5 filings | Dec. 21, 2020 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 59 insiders · 26 officers · 20 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert J Gillette | CEO | Oct. 25, 2011 M | 62,541 | 0 | 0 | $0 |
| Joseph Kishkill | President, International | June 30, 2016 M | 38,202 | 0 | 0 | $0 |
| T.L. Kallenbach | President, Components Bus Grp | Dec. 31, 2011 M | 11,281 | 0 | 0 | $0 |
| Jens Meyerhoff | President, Util. Sys. Bus. | Sept. 30, 2011 M | 29,768 | 0 | 0 | $0 |
| Bruce Sohn | President, Operations | April 30, 2011 M | 41,645 | 0 | 0 | $0 |
| Markus Gloeckler | Chief Technology Officer | Oct. 1, 2026 S | 5,042 | 0 | 13 | $-3,059,338 |
| Samantha L. Sloan | EVP, Corporate Affairs | Sept. 1, 2026 M | 2,353 | 0 | 8 | $-135,935 |
| Patrick James Buehler | Chief Product Officer | June 2, 2026 S | 4,406 | 0 | 8 | $-1,392,158 |
| Caroline Stockdale | Chief People and Comm. Officer | May 28, 2026 S | 23,792 | 0 | 8 | $-3,574,288 |
| Byron Michael Jeffers | VP - Global Controller and CAO | Aug. 12, 2024 S | 0 | 0 | 0 | $0 |
| Raffi Garabedian | Chief Technology Officer | March 7, 2021 M | 17,603 | 0 | 0 | $0 |
| Paul J Kaleta | EVP, Genl Counsel & Secretary | March 31, 2020 M | 27,879 | 0 | 0 | $0 |
| Christopher Bueter | EVP, Human Resources | June 17, 2019 S | 0 | 0 | 0 | $0 |
| Bryan Robert Schumaker | Chief Accounting Officer | March 8, 2019 M | 4,090 | 0 | 0 | $0 |
| Timothy Brian Rebhorn | EVP, Corp Dev & Strategic Mktg | June 30, 2016 M | 19,210 | 0 | 0 | $0 |
| Carol Campbell | EVP, Human Resources | Jan. 21, 2014 S | 0 | 0 | 0 | $0 |
| Mary Elizabeth Gustafsson | EVP, General Counsel, Secty. | Sept. 30, 2013 M | 41,510 | 0 | 0 | $0 |
| James G. Brown Jr. | EVP, Global Business Dev | April 4, 2013 M | 15,616 | 0 | 0 | $0 |
| Maja Wessels | EVP, Global Public Affairs | April 4, 2013 M | 23,283 | 0 | 0 | $0 |
| David J Eaglesham | Chief Technology Officer | April 28, 2012 M | 9,070 | 0 | 0 | $0 |
| James Zhu | Chief Accounting Officer | July 30, 2011 M | 8,414 | 0 | 0 | $0 |
| John T Gaffney | Executive VP | Dec. 1, 2009 M | 18,722 | 0 | 0 | $0 |
| John Eugene Carrington | Executive Vice President | Aug. 24, 2009 M | 13,196 | 0 | 0 | $0 |
| Kenneth M Schultz | Executive Vice President | Aug. 16, 2008 M | 3,127 | 0 | 0 | $0 |
| James R. Miller | Executive Vice President | March 31, 2008 A | · | 0 | 0 | $0 |
| Paul I Kacir | VP and Corporate Secretary | Nov. 26, 2007 M | 1,500 | 0 | 0 | $0 |
| Norman L. Wright | Director | Sept. 30, 2026 A | 5,309 | 0 | 0 | $0 |
| Anita M. George | Director | Sept. 30, 2026 A | 5,471 | 0 | 0 | $0 |
| Venkata S M Renduchintala | Director | Sept. 30, 2026 A | 2,433 | 0 | 0 | $0 |
| Lisa A Kro | Director | Sept. 30, 2026 A | 4,899 | 0 | 0 | $0 |
| Michael J Ahearn | Director | Sept. 30, 2026 A | 66,479 | 0 | 0 | $0 |
| Michael T Sweeney | Director | Sept. 30, 2026 A | 14,625 | 0 | 1 | $-1,219,995 |
| Curtis A Morgan | Director | Sept. 30, 2026 A | 523 | 0 | 0 | $0 |
| Paul H Stebbins | Director | Sept. 30, 2026 A | 16,250 | 0 | 3 | $-1,836,804 |
| POST WILLIAM J | Director | Sept. 30, 2026 A | 27,685 | 0 | 0 | $0 |
| Molly Joseph | Director | June 30, 2025 A | 16,195 | 0 | 0 | $0 |
| Richard D Chapman | Director | June 28, 2024 A | 1,245 | 0 | 0 | $0 |
| George A Hambro | Director | June 28, 2024 A | 25,599 | 0 | 0 | $0 |
| Craig R Kennedy | Director | June 28, 2024 A | 14,108 | 0 | 0 | $0 |
| Kathryn A Hollister | Director | June 30, 2022 A | 2,846 | 0 | 0 | $0 |
| Sharon L. Allen | Director | June 30, 2022 A | 24,813 | 0 | 0 | $0 |
| James F Nolan | Director | March 30, 2018 A | 44,826 | 0 | 0 | $0 |
| Thomas J Presby | Director | March 30, 2018 A | 20,991 | 0 | 0 | $0 |
| James Alton Hughes | Director | Sept. 1, 2016 M | 113,304 | 0 | 0 | $0 |
| Jose H Villarreal | Director | June 30, 2012 A | 6,036 | 0 | 0 | $0 |
| Lukas T Walton | 10% owner | Oct. 30, 2020 S | 8,841,358 | 0 | 0 | $0 |
| John T. Walton Residuary Trust | 10% owner | Oct. 26, 2016 J | 0 | 0 | 0 | $0 |
| JCL Holdings LLC | 10% owner | Oct. 26, 2016 J | 0 | 0 | 0 | $0 |
| Estate of John T. Walton | 10% owner | March 26, 2012 W | 0 | 0 | 0 | $0 |
| Jason E. Dymbort | · | Aug. 11, 2026 S | 5,624 | 0 | 10 | $-3,823,196 |
| Michael Koralewski | · | Aug. 3, 2026 S | 7,642 | 0 | 9 | $-2,054,440 |
| Mark R Widmar | · | May 26, 2026 S | 81,861 | 0 | 45 | $-9,006,225 |
| Kuntal Kumar Verma | · | May 21, 2026 S | 4,967 | 0 | 16 | $-2,550,531 |
| Nathan B. Theurer | · | May 6, 2026 S | 0 | 0 | 11 | $-156,763 |
| Alexander R. Bradley | · | May 4, 2026 M | 30,712 | 0 | 12 | $-4,006,656 |
| Georges Antoun | · | May 4, 2026 M | 19,918 | 0 | 20 | $-10,618,164 |
| Philip Dejong | · | March 10, 2021 S | 8,306 | 0 | 0 | $0 |
| JCL FSLR Holdings, LLC | · | Oct. 26, 2016 J | 0 | 0 | 0 | $0 |
| JTW Trust No. 1 UAD 9/19/02 | · | March 4, 2011 S | 1,600,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 151 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TAN · Invesco Exchange-Traded Fund Trust … | 8.95% | 460,269 SH | Oct. 2, 2026 | Daily |
| VCLN · Virtus ETF Trust II | 8.07% | 2,097 NS | July 31, 2026 | N-PORT |
| ICLN · iShares Trust | 7.86% | 812,918 SH | Sept. 11, 2026 | Daily |
| SDG · iShares Trust | 3.87% | 31,180 SH | Sept. 11, 2026 | Daily |
| ETEC · iShares Trust | 3.61% | 701 SH | Sept. 11, 2026 | Daily |
| POWR · iShares, Inc. | 2.99% | 65,781 SH | Sept. 11, 2026 | Daily |
| BUL · Pacer Funds Trust | 2.90% | 18,055 NS | July 31, 2026 | N-PORT |
| ERTH · Invesco Exchange-Traded Fund Trust | 2.81% | 19,945 SH | Oct. 2, 2026 | Daily |
| FXN · First Trust Exchange-Traded AlphaDE… | 2.73% | 48,986 NS | July 31, 2026 | N-PORT |
| CCSO · Tidal Trust II | 2.24% | 4,852 NS | July 31, 2026 | N-PORT |
| NUMG · Nushares ETF Trust | 1.62% | 26,846 NS | July 31, 2026 | N-PORT |
| PBW · Invesco Exchange-Traded Fund Trust | 1.55% | 30,318 SH | Oct. 2, 2026 | Daily |
| SPGP · Invesco Exchange-Traded Fund Trust | 1.51% | 179,434 SH | Oct. 2, 2026 | Daily |
| NUMV · Nushares ETF Trust | 1.30% | 27,417 NS | July 31, 2026 | N-PORT |
| PWRD · TCW ETF Trust | 1.24% | 85,705 NS | July 31, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.09% | 390,984 SH | Oct. 2, 2026 | Daily |
| RPG · Invesco Exchange-Traded Fund Trust | 1.01% | 114,722 SH | Oct. 2, 2026 | Daily |
| GURU · Global X Funds | 0.98% | 2,856 NS | July 31, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 0.93% | 63,516 SH | Oct. 2, 2026 | Daily |
| FPWR · First Trust Exchange-Traded Fund IV | 0.86% | 1,204 NS | July 31, 2026 | N-PORT |
| IYE · iShares Trust | 0.85% | 78,025 SH | Sept. 11, 2026 | Daily |
| JOET · Virtus ETF Trust II | 0.82% | 9,478 NS | July 31, 2026 | N-PORT |
| MADE · iShares Trust | 0.76% | 2,176 SH | Sept. 11, 2026 | Daily |
| PBD · Invesco Exchange-Traded Fund Trust … | 0.76% | 5,076 SH | Oct. 2, 2026 | Daily |
| ALTL · Pacer Funds Trust | 0.75% | 3,275 NS | July 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.70% | 73,696 NS | July 31, 2026 | N-PORT |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.70% | 43,570 NS | July 31, 2026 | N-PORT |
| PABU · iShares Trust | 0.65% | 77,982 SH | Sept. 11, 2026 | Daily |
| PALC · Pacer Funds Trust | 0.61% | 6,073 NS | July 31, 2026 | N-PORT |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.59% | 33,229 SH | Oct. 2, 2026 | Daily |
| FVAL · FIDELITY COVINGTON TRUST | 0.58% | 36,588 NS | July 31, 2026 | N-PORT |
| CCNR · Financial Investors Trust | 0.52% | 10,617 NS | July 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.52% | 9,278 SH | Aug. 19, 2026 | Daily |
| HIBL · Direxion Shares ETF Trust | 0.51% | 1,809 NS | July 31, 2026 | N-PORT |
| VLUE · iShares Trust | 0.39% | 179,627 SH | Sept. 11, 2026 | Daily |
| RCGE · EA Series Trust | 0.38% | 1,805 NS | July 31, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.38% | 333,632 NS | July 31, 2026 | N-PORT |
| USMV · iShares Trust | 0.37% | 427,359 SH | Sept. 11, 2026 | Daily |
| ESMV · iShares Trust | 0.36% | 134 SH | Sept. 11, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.35% | 9,468 NS | July 31, 2026 | N-PORT |
| NULV · Nushares ETF Trust | 0.33% | 34,504 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.33% | 676,272 SH | Aug. 19, 2026 | Daily |
| VOT · VANGUARD INDEX FUNDS | 0.26% | 391,007 SH | Aug. 19, 2026 | Daily |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.24% | 17,914 NS | July 31, 2026 | N-PORT |
| XT · iShares Trust | 0.22% | 41,810 SH | Sept. 11, 2026 | Daily |
| EIPX · First Trust Exchange-Traded Fund IV | 0.22% | 5,757 NS | July 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.20% | 144,112 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.19% | 9,031 SH | Oct. 2, 2026 | Daily |
| EUSA · iShares, Inc. | 0.19% | 17,544 SH | Sept. 11, 2026 | Daily |
| DFLV · Dimensional ETF Trust | 0.19% | 60,319 NS | July 31, 2026 | N-PORT |
| SIZE · iShares Trust | 0.18% | 3,698 SH | Sept. 11, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.17% | 960,996 SH | Oct. 2, 2026 | Daily |
| FCPI · FIDELITY COVINGTON TRUST | 0.16% | 2,090 NS | July 31, 2026 | N-PORT |
| IMCG · iShares Trust | 0.16% | 30,320 SH | Sept. 11, 2026 | Daily |
| FEUS · FlexShares Trust | 0.16% | 825 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.16% | 417,451 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.15% | 11,948 SH | Sept. 11, 2026 | Daily |
| ROUS · Lattice Strategies Trust | 0.14% | 4,806 NS | July 31, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.14% | 1,688 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.14% | 1,170,690 SH | Aug. 19, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.14% | 1,015,030 SH | Aug. 19, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.14% | 130,199 NS | July 31, 2026 | N-PORT |
| IMCV · iShares Trust | 0.14% | 7,662 SH | Sept. 11, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.13% | 3,888 SH | Aug. 19, 2026 | Daily |
| XOEF · iShares Trust | 0.12% | 134 SH | Sept. 11, 2026 | Daily |
| LGDX · Tidal Trust III | 0.12% | 834 NS | July 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.12% | 1,105,856 SH | Aug. 19, 2026 | Daily |
| TECL · Direxion Shares ETF Trust | 0.11% | 26,251 NS | July 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.11% | 77,159 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.10% | 50,959 SH | Sept. 11, 2026 | Daily |
| DFVX · Dimensional ETF Trust | 0.10% | 2,384 NS | July 31, 2026 | N-PORT |
| EGUS · iShares Trust | 0.10% | 127 SH | Sept. 11, 2026 | Daily |
| SUSA · iShares Trust | 0.10% | 18,454 SH | Sept. 11, 2026 | Daily |
| ACWV · iShares, Inc. | 0.09% | 15,332 SH | Sept. 11, 2026 | Daily |
| ESGU · iShares Trust | 0.09% | 81,464 SH | Sept. 11, 2026 | Daily |
| GARP · iShares Trust | 0.09% | 13,547 SH | Sept. 11, 2026 | Daily |
| USXF · iShares Trust | 0.08% | 6,033 SH | Sept. 11, 2026 | Daily |
| IXN · iShares Trust | 0.08% | 36,483 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.07% | 1,955 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.07% | 169,219 NS | July 31, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.07% | 602 NS | July 31, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 1,563 NS | July 31, 2026 | N-PORT |
| TYLG · Global X Funds | 0.07% | 48 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.07% | 6,099 SH | Aug. 19, 2026 | Daily |
| VOOG · VANGUARD ADMIRAL FUNDS | 0.07% | 79,858 SH | Aug. 19, 2026 | Daily |
| EGLE · Global X Funds | 0.07% | 7 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.07% | 10,493 NS | July 31, 2026 | N-PORT |
| IVW · iShares Trust | 0.06% | 229,710 SH | Sept. 11, 2026 | Daily |
| SUSL · iShares Trust | 0.06% | 3,580 SH | Sept. 11, 2026 | Daily |
| SPTE · SP Funds Trust | 0.06% | 604 NS | July 31, 2026 | N-PORT |
| DSI · iShares Trust | 0.06% | 15,688 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.06% | 58,277 SH | Aug. 19, 2026 | Daily |
| IUSG · iShares Trust | 0.06% | 94,526 SH | Sept. 11, 2026 | Daily |
| GLBL · Pacer Funds Trust | 0.06% | 3 NS | July 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.06% | 545 NS | July 31, 2026 | N-PORT |
| IWD · iShares Trust | 0.05% | 214,178 SH | Sept. 11, 2026 | Daily |
| VUG · VANGUARD INDEX FUNDS | 0.05% | 791,364 SH | Aug. 19, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.05% | 27,363 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.04% | 123 NS | July 31, 2026 | N-PORT |
| TOPC · iShares Trust | 0.04% | 64 SH | Sept. 11, 2026 | Daily |
| VOO · VANGUARD INDEX FUNDS | 0.04% | 2,790,200 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.04% | 22,976 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.04% | 460 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.04% | 1,248 SH | Sept. 11, 2026 | Daily |
| XYLD · Global X Funds | 0.04% | 5,919 NS | July 31, 2026 | N-PORT |
| CATH · Global X Funds | 0.04% | 2,325 NS | July 31, 2026 | N-PORT |
| ILCG · iShares Trust | 0.04% | 5,354 SH | Sept. 11, 2026 | Daily |
| XCLR · Global X Funds | 0.04% | 6 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.04% | 5,449 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.03% | 13 NS | July 31, 2026 | N-PORT |
| CRBN · iShares Trust | 0.03% | 1,931 SH | Sept. 11, 2026 | Daily |
| IVV · iShares Trust | 0.03% | 1,354,678 SH | Sept. 11, 2026 | Daily |
| BKLC · BNY Mellon ETF Trust | 0.03% | 8,774 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.03% | 80 NS | July 31, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 14,053 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.03% | 1,721 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.03% | 9 NS | July 31, 2026 | N-PORT |
| SPUU · Direxion Shares ETF Trust | 0.03% | 406 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.03% | 2,587 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.03% | 31,668 NS | July 31, 2026 | N-PORT |
| IWP · iShares Trust | 0.03% | 29,382 SH | Sept. 11, 2026 | Daily |
| ILCB · iShares Trust | 0.03% | 1,968 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.03% | 4,554 SH | Sept. 11, 2026 | Daily |
| XTR · Global X Funds | 0.03% | 7 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.03% | 139,500 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.03% | 70,372 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.03% | 3,240,400 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.03% | 16,774 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 8,589 SH | Aug. 19, 2026 | Daily |
| USCL · iShares Trust | 0.03% | 4,008 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.03% | 27,850 SH | Sept. 11, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 1,596 SH | Oct. 2, 2026 | Daily |
| PBP · Invesco Exchange-Traded Fund Trust | 0.03% | 637 SH | Oct. 2, 2026 | Daily |
| ILCV · iShares Trust | 0.03% | 1,816 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.03% | 748 NS | July 31, 2026 | N-PORT |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.03% | 17,685 SH | Oct. 2, 2026 | Daily |
| SPXL · Direxion Shares ETF Trust | 0.03% | 8,402 NS | July 31, 2026 | N-PORT |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.03% | 7,219 SH | Oct. 2, 2026 | Daily |
| TILT · FlexShares Trust | 0.03% | 2,686 NS | July 31, 2026 | N-PORT |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.03% | 2,517 SH | Oct. 2, 2026 | Daily |
| TOK · iShares Trust | 0.03% | 294 SH | Sept. 11, 2026 | Daily |
| PHDG · Invesco Actively Managed Exchange-T… | 0.02% | 85 SH | Oct. 2, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.02% | 13,184 SH | Oct. 2, 2026 | Daily |
| URTH · iShares, Inc. | 0.02% | 9,147 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.02% | 32,367 SH | Sept. 11, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.02% | 11,510 SH | Oct. 2, 2026 | Daily |
| VV · VANGUARD INDEX FUNDS | 0.02% | 59,506 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 85,572 SH | Aug. 19, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.02% | 22 NS | July 31, 2026 | N-PORT |
| IWF · iShares Trust | 0.00% | 19,149 SH | Sept. 11, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,303 SH | Aug. 19, 2026 | Daily |
FSLR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
30 analysts · 2026-09-29Mean target $276.17 +58.2%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FSLR | $28.03B | 18.4 | 24.1% | 29.3% | 16.9% | 40.6% |
| ON | $21.48B | 186.7 | -15.3% | 2.0% | 1.5% | 33.1% |
| GFS | · | 22.0 | · | 13.0% | 7.8% | 24.9% |
| MTSI | $9.49B | -174.5 | 32.6% | -5.6% | -4.3% | 54.7% |
| SITM | $9.29B | -205.3 | 61.2% | -13.1% | -3.8% | 53.6% |
| LSCC | $10.76B | 3932.5 | 2.7% | 0.59% | 0.44% | 68.2% |
| SMTC | $7.51B | -176.1 | 15.5% | -3.9% | -7.3% | 51.6% |
| SWKS | · | 25.0 | -2.2% | · | · | · |
| RMBS | $9.90B | 43.5 | 27.1% | 32.6% | 17.8% | 79.6% |
| QRVO | $6.79B | 21.4 | -1.1% | 9.2% | 9.9% | 45.9% |
| MXL | $1.51B | -11.0 | 29.7% | -29.2% | -29.1% | 56.8% |
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