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STOCK COMPARISON

United Renewable Energy vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how United Renewable Energy (3576) and First Solar (FSLR) compare, as of Nov 6, 2026.

As of Nov 6, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: United Renewable Energy trades at TWD 17.80 versus a fair value of TWD 4.25 (−76.1%), while First Solar trades at $201 versus $392 (+94.9%).
United Renewable Energy
3576.TW · TWD · Information Technology
−76.1%
upside to fair value
overvalued
PriceTWD 17.80
Fair ValueTWD 4.25
Quality32/100
Fair ValueQualityUptrend
First Solar
FSLR · USD · Information Technology
+94.9%
upside to fair value
undervalued
Price$201
Fair Value$392
Quality66/100
Fair ValueQualityUptrend
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

United Renewable EnergyFirst Solar
Valuation
33.0×P/E (TTM)11.6×
n/aForward P/E (FY2027)8.7×
n/aMedian P/E at FY-end (7 FY, ex one-offs where documented)26.1×
10.82×P/S (TTM)4.32×
2.75×P/B2.27×
n/aEV/EBITDA7.7×
n/aPEG0.31×
−76.1%Fair value upside+94.9%
Profitability
-34.7%Operating margin44.4%
n/aEBIT margin trend (5Y)2.76×
7.4%Return on equity18.7%
-5.2%Return on assets11.5%
Growth
7.6%Revenue growth (YoY)-22.8%
-45.5%Avg. growth/yr (3Y)25.8%
n/aAvg. growth/yr (5Y)14.0%
n/aValue creation/yr+38.9%
Balance & size
n/aInterest coverage (EBIT/interest)38.1×
0.22×Debt / equity0.03×
$872MMarket cap$22B
mixedGrowth qualityhealthy
First Solar, median P/E at fiscal year-end, 7 fiscal years (2018 to 2025), reported earnings, 6 of the years ex one-offs: 26.1.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

First Solar leads: 0 to 9 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

United Renewable Energy First Solar
ProfitabilityHow much profit the company makes from its sales and capital
0
56
Quality GrowthAre margins and returns getting better?
17
54
CashflowDo the profits arrive as real cash?
3
72
Financial strengthDebt, balance sheet and risk of trouble
47
94
InvestmentDoes it invest with discipline instead of growing at any price?
67
14
Low VolatilityHow calm the share price moves, does not count
45
12
Price momentumPrice momentum of the last 3 to 12 months, does not count
70
19
Near the 52-week highDistance to the 52-week high, does not count
78
12
New sharesBuys back shares or issues new ones?
88
80

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyUnited Renewable EnergyPrice TWD 17.80First SolarPrice $201
DCF Modelsn/a+107.5%above the price$417
Earnings-Basedn/a+54.2%above the price$310
Multiplesn/a+57.5%above the price$317
Asset-Based−76.1%below the priceTWD 4.25−89.6%below the price$20.89
Growth DCFn/a+48.0%above the price$298
Economic Profitn/a−19.2%below the price$162
Growth Earningsn/a+134.0%above the price$471
Matching families1 of 7
Minimum−76.1%below the priceTWD 4.25−89.6%below the price$20.89
Maximum−76.1%below the priceTWD 4.25−89.6%below the price$20.89
Median−76.1%below the priceTWD 4.25−89.6%below the price$20.89
Geometric mean−76.1%below the priceTWD 4.25−89.6%below the price$20.89
Ahead family by family1 of 10 of 1

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 1 of 7), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: United Renewable Energy is ahead in 1 of 1 shared families, First Solar in none.

United Renewable Energy: 1 of 1 models see the stock below the current price.

First Solar: 4 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

United Renewable Energy
Price TWD 17.80
Fair Value TWD 4.25
Bear TWD 3.17Bull TWD 6.35
First Solar
Price $201
Fair Value $392
Bear $228Bull $485

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

United Renewable Energy · Information Technology

Quality score32 · bottom 25%
Fair value upside−76.1% · bottom 25%

First Solar · Information Technology

Quality score66 · Top 25%
Fair value upside+94.9% · Top 25%

Bottom line

As of Nov 6, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: United Renewable Energy trades at TWD 17.80 versus a fair value of TWD 4.25 (−76.1%), while First Solar trades at $201 versus $392 (+94.9%).

First Solar has the higher quality score (66/100).

Open First Solar live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.