Hsinjing Holding Co vs First Solar: Fair Value & Quality
Both stocks run through our valuation models. Here is how Hsinjing Holding Co (3713) and First Solar (FSLR) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Hsinjing Holding Co trades at TWD 15.00 versus a fair value of TWD 4.57 (-70%), while First Solar trades at $250 versus $284 (+14%).
Hsinjing Holding Co
3713.TWO · TWD · Information Technology
-70%
upside to fair value
overvalued
PriceTWD 15.00
Fair ValueTWD 4.57
Quality16/100
First Solar
FSLR · USD · Information Technology
+14%
upside to fair value
undervalued
Price$250
Fair Value$284
Quality65/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Hsinjing Holding CoFirst Solar
Valuation
—P/E (TTM)14.7×
0.12×P/S (TTM)4.52×
0.06×P/B2.57×
22.3×EV/EBITDA9.7×
—PEG0.60×
Profitability
-37%Net margin31%
-6%Operating margin33%
-18%Return on equity18%
-1%Return on assets8%
Growth
1%Revenue growth (YoY)24%
-36.7%Avg. growth/yr (3Y)25.8%
13.9%Avg. growth/yr (5Y)14.0%
Balance & size
1.56×Debt / equity0.03×
$40MMarket cap$24B
expensiveGrowth qualityhealthy
First Solar leads: 2 to 9 metric wins.
Dash = 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.
Hsinjing Holding Coof which business quality 16 · market factors 28First Solarof which business quality 66 · market factors 45
ProfitabilityMargins and returns on capital today
2
56
Quality GrowthAre margins and returns improving?
16
54
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
57
14
Low VolatilityCalm price path (market factor)
62
8
MomentumPrice trend over the last 3–12 months (market factor)
18
58
52W MomentumDistance to the 52-week high (market factor)
9
64
Net IssuanceBuybacks instead of dilution
20
80
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Hsinjing Holding Co
MultiplesTWD 2.17
Asset-BasedTWD 5.38
2 of 2 models see the stock below the current price.
First Solar
DCF Models$404
Earnings-Based$310
Multiples$263
Asset-Based$59.47
Growth DCF$296
Economic Profit$202
Growth Earnings$405
8 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Hsinjing Holding Co
Bear TWD 3.41Fair Value TWD 4.57Bull TWD 6.83
TWD 15.00 = current price (white tick)
First Solar
Bear $194Fair Value $284Bull $356
$250 = current price (white tick)
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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.
Hsinjing Holding Co · Information Technology
Quality score16 · bottom 25%
Fair value upside-70% · bottom 25%
First Solar · Information Technology
Quality score65 · Top 25%
Fair value upside+14% · Top 25%
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Hsinjing Holding Co trades at TWD 15.00 versus a fair value of TWD 4.57 (-70%), while First Solar trades at $250 versus $284 (+14%).
First Solar has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
