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STOCK COMPARISON

Next vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how Next (NXT) and First Solar (FSLR) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Next trades at £150 versus a fair value of £154 (+3%), while First Solar trades at $244 versus $284 (+17%).
Next
NXT.LSE · GBP · Consumer Discretionary
+3%
upside to fair value
fairly valued
Price£150
Fair Value£154
Quality77/100
First Solar
FSLR · USD · Information Technology
+17%
upside to fair value
undervalued
Price$244
Fair Value$284
Quality58/100

Head-to-head numbers

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

NextFirst Solar
Valuation
19.6×P/E (TTM)14.7×
3.25×P/S (TTM)4.52×
13.51×P/B2.57×
16.2×EV/EBITDA9.7×
2.91×PEG0.60×
1.8%Dividend yield
£2.68Dividend per share
Profitability
13%Net margin31%
19%Operating margin33%
51%Return on equity18%
16%Return on assets8%
Growth
15%Revenue growth (YoY)24%
11.1%Avg. growth/yr (3Y)25.8%
14.3%Avg. growth/yr (5Y)14.0%
Balance & size
0.36×Debt / equity0.03×
$22BMarket cap$24B
mixedGrowth qualityhealthy

First Solar leads: 4 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.

Nextof which business quality 76 · market factors 73 First Solarof which business quality 66 · market factors 44
ProfitabilityMargins and returns on capital today
91
56
Quality GrowthAre margins and returns improving?
71
54
CashflowEarnings quality: real cash, not paper profit
67
72
Fin. StrengthBalance sheet, leverage, solvency risk
63
94
InvestmentDisciplined investing over empire-building
67
14
Low VolatilityCalm price path (market factor)
70
8
MomentumPrice trend over the last 3–12 months (market factor)
69
60
52W MomentumDistance to the 52-week high (market factor)
86
60
Net IssuanceBuybacks instead of dilution
99
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.

Next

DCF Models£158
Earnings-Based£71.89
Dividend Discount£43.45
Multiples£148
Asset-Based£9.76
Growth DCF£151
Economic Profit£105
Growth Earnings£139

14 of 26 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

7 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.

Next
Bear £99.75Fair Value £154Bull £197
£150 = current price (white tick)
First Solar
Bear $194Fair Value $284Bull $356
$244 = 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.

Next · Consumer Discretionary

Quality score77 · Top 25%
Fair value upside+3% · above median

First Solar · Information Technology

Quality score58 · above median
Fair value upside+17% · Top 25%

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Next trades at £150 versus a fair value of £154 (+3%), while First Solar trades at $244 versus $284 (+17%).

Next has the higher quality score (77/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.