Is First Solar or Ravindra Energy more undervalued?

As of Sep 6, 2026, First Solar is at +92% to fair value and Ravindra Energy at -50%. First Solar is the more undervalued of the two. Model-based estimate, not financial advice.

Which has higher quality, First Solar or Ravindra Energy?

First Solar has a quality score of 65/100 and Ravindra Energy 42/100. First Solar leads on quality.

STOCK COMPARISON

First Solar vs Ravindra Energy: Fair Value & Quality

Both stocks run through our valuation models. Here is how First Solar (FSLR) and Ravindra Energy (RELTD) compare, as of Sep 6, 2026.

As of Sep 6, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: First Solar trades at $204 versus a fair value of $392 (+92%), while Ravindra Energy trades at ₹161 versus ₹81.14 (-50%).

First Solar

FSLR · USD · Information Technology

+92%

upside to fair value

undervalued

Price$204

Fair Value$392

Quality65/100

Ravindra Energy

RELTD.NSE · INR · Utilities

-50%

upside to fair value

overvalued

Price₹161

Fair Value₹81.14

Quality42/100

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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

First SolarRavindra Energy

Valuation

14.7×P/E (TTM)36.3×

4.52×P/S (TTM)6.13×

2.57×P/B7.88×

9.7×EV/EBITDA26.0×

0.60×PEG—

+91.8%Fair value upside−49.7%

Profitability

33%Operating margin-6%

2.76×EBIT margin trend (5Y)5.43×

18%Return on equity20%

8%Return on assets7%

Growth

24%Revenue growth (YoY)-34%

25.8%Avg. growth/yr (3Y)29.1%

14.0%Avg. growth/yr (5Y)—

+38.9%Value creation/yr+11.5%

Balance & size

38.1×Interest coverage (EBIT/interest)3.0×

0.03×Debt / equity0.41×

$24BMarket cap$353M

healthyGrowth qualityexpensive

Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

First Solar leads: 7 to 2 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.

First Solarof which business quality 66 · market factors 28 Ravindra Energyof which business quality 45 · market factors 50

ProfitabilityMargins and returns on capital today

Quality GrowthAre margins and returns improving?

CashflowEarnings quality: real cash, not paper profit

Fin. StrengthBalance sheet, leverage, solvency risk

InvestmentDisciplined investing over empire-building

Low VolatilityCalm price path (market factor)

MomentumPrice trend over the last 3–12 months (market factor)

52W MomentumDistance to the 52-week high (market factor)

Net IssuanceBuybacks instead of dilution

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 family	First SolarPrice $204	Ravindra EnergyPrice ₹161
DCF Models	+127%above the price$463	n/a
Earnings-Based	+52%above the price$310	-12%close to the price₹142
Multiples	+56%above the price$318	-59%below the price₹65.90
Asset-Based	-71%below the price$59.47	-91%below the price₹14.26
Growth DCF	+70%above the price$348	n/a
Economic Profit	-1%close to the price$202	-61%below the price₹63.48
Growth Earnings	+130%above the price$471	+10%close to the price₹178
Minimum	-71%below the price$59.47	-91%below the price₹14.26
Maximum	+130%above the price$471	+10%close to the price₹178
Median	+56%above the price$318	-59%below the price₹65.90
Geometric mean	+29%above the price$264	-58%below the price₹68.55

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%.

First Solar: 3 of 24 models see the stock below the current price.

Ravindra Energy: 12 of 14 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.

First Solar

Bear $224Fair Value $392Bull $485

$204 = current price (white tick)

Ravindra Energy

Bear ₹55.90Fair Value ₹81.14Bull ₹106

₹161 = 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.

First Solar · Information Technology

Quality score65 · Top 25%

Fair value upside+92% · Top 25%

Ravindra Energy · Utilities

Quality score42 · below median

Fair value upside-50% · bottom 25%

Bottom line

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

See the full analysis →

First Solar · Ravindra Energy

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