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STOCK COMPARISON

Changzhou Fusion New Material Co. Ltd. A vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how Changzhou Fusion New Material Co. Ltd. A (688503) and First Solar (FSLR) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Changzhou Fusion New Material Co. Ltd. A trades at ¥80.60 versus a fair value of ¥41.60 (-48%), while First Solar trades at $192 versus $392 (+104%).
Changzhou Fusion New Material Co. Ltd. A
688503.SHG · CNY · Information Technology
-48%
upside to fair value
overvalued
Price¥80.60
Fair Value¥41.60
Quality47/100
First Solar
FSLR · USD · Information Technology
+104%
upside to fair value
undervalued
Price$192
Fair Value$392
Quality65/100
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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

Changzhou Fusion New Material Co. Ltd. AFirst Solar
Valuation
31.9×P/E (TTM)12.4×
1.13×P/S (TTM)4.52×
3.89×P/B2.57×
19.4×EV/EBITDA9.7×
n/aPEG0.60×
−48.4%Fair value upside+104.3%
0.5%Dividend yieldn/a
¥0.43Dividend per sharen/a
Profitability
8%Operating margin33%
0.68×EBIT margin trend (5Y)2.76×
12%Return on equity18%
5%Return on assets8%
Growth
88%Revenue growth (YoY)24%
30.9%Avg. growth/yr (3Y)25.8%
42.3%Avg. growth/yr (5Y)14.0%
+11.9%Value creation/yr+38.9%
Balance & size
28.8×Interest coverage (EBIT/interest)38.1×
n/aDebt / equity0.03×
$3BMarket cap$24B
expensiveGrowth qualityhealthy

First Solar leads: 3 to 10 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.

Changzhou Fusion New Material Co. Ltd. Aof which business quality 46 · market factors 41 First Solarof which business quality 66 · market factors 19
ProfitabilityMargins and returns on capital today
41
56
Quality GrowthAre margins and returns improving?
36
54
CashflowEarnings quality: real cash, not paper profit
0
72
Fin. StrengthBalance sheet, leverage, solvency risk
69
94
InvestmentDisciplined investing over empire-building
61
14
Low VolatilityCalm price path (market factor)
14
9
MomentumPrice trend over the last 3–12 months (market factor)
50
29
52W MomentumDistance to the 52-week high (market factor)
56
13
Net IssuanceShare count: buybacks or dilution?
84
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 familyChangzhou Fusion New Material Co. Ltd. APrice ¥80.60First SolarPrice $192
DCF Models-49%below the price¥41.15+145%above the price$471
Earnings-Based-38%below the price¥50.06+62%above the price$310
Dividend Discount-91%below the price¥7.53n/a
Multiples-42%below the price¥46.95+66%above the price$318
Asset-Based-83%below the price¥13.87-69%below the price$59.47
Growth DCFn/a+85%above the price$355
Economic Profit-60%below the price¥32.49+5%close to the price$202
Growth Earnings-14%close to the price¥69.68+145%above the price$471
Minimum-91%below the price¥7.53-69%below the price$59.47
Maximum-14%close to the price¥69.68+145%above the price$471
Median-49%below the price¥41.15+66%above the price$318
Geometric mean-63%below the price¥30.19+38%above the price$265

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Changzhou Fusion New Material Co. Ltd. A: 16 of 17 models see the stock below the current price.

First Solar: 3 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.

Changzhou Fusion New Material Co. Ltd. A
Price ¥80.60
Fair Value ¥41.60
Bear ¥26.89Bull ¥56.32
First Solar
Price $192
Fair Value $392
Bear $227Bull $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.

Changzhou Fusion New Material Co. Ltd. A · Information Technology

Quality score47 · below median
Fair value upside-48% · below median

First Solar · Information Technology

Quality score65 · Top 25%
Fair value upside+104% · Top 25%

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Changzhou Fusion New Material Co. Ltd. A trades at ¥80.60 versus a fair value of ¥41.60 (-48%), while First Solar trades at $192 versus $392 (+104%).

First Solar has the higher quality score (65/100).

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.