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STOCK COMPARISON

Solar vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how Solar (SOLAR) and First Solar (FSLR) compare, as of Aug 31, 2026.

As of Aug 31, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Solar trades at THB 0.22 versus a fair value of THB 0.13 (-41%), while First Solar trades at $204 versus $392 (+92%).
Solar
SOLAR.BK · THB · Industrials
-41%
upside to fair value
overvalued
PriceTHB 0.22
Fair ValueTHB 0.13
Quality21/100
First Solar
FSLR · USD · Information Technology
+92%
upside to fair value
undervalued
Price$204
Fair Value$392
Quality65/100
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Head-to-head numbers

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

SolarFirst Solar
Valuation
P/E (TTM)14.7×
0.02×P/S (TTM)4.52×
P/B2.57×
EV/EBITDA9.7×
PEG0.60×
Profitability
-86%Net margin31%
-32%Operating margin33%
-104%Return on equity18%
-18%Return on assets8%
Growth
7%Revenue growth (YoY)24%
32.4%Avg. growth/yr (3Y)25.8%
16.2%Avg. growth/yr (5Y)14.0%
Balance & size
1.23×Debt / equity0.03×
$9MMarket cap$24B
mixedGrowth qualityhealthy

First Solar leads: 3 to 6 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.

Solarof which business quality 21 · market factors 31 First Solarof which business quality 66 · market factors 25
ProfitabilityMargins and returns on capital today
5
56
Quality GrowthAre margins and returns improving?
40
54
CashflowEarnings quality: real cash, not paper profit
0
72
Fin. StrengthBalance sheet, leverage, solvency risk
5
94
InvestmentDisciplined investing over empire-building
100
14
Low VolatilityCalm price path (market factor)
50
11
MomentumPrice trend over the last 3–12 months (market factor)
28
31
52W MomentumDistance to the 52-week high (market factor)
15
33
Net IssuanceBuybacks instead of dilution
15
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 familySolarPrice THB 0.22First SolarPrice $204
DCF Modelsn/a+127%above the price$463
Earnings-Basedn/a+52%above the price$310
Multiplesn/a+56%above the price$318
Asset-Based-36%below the priceTHB 0.14-71%below the price$59.47
Growth DCFn/a+70%above the price$348
Economic Profitn/a-1%close to the price$202
Growth Earningsn/a+130%above the price$471
Minimum-36%below the priceTHB 0.14-71%below the price$59.47
Maximum-36%below the priceTHB 0.14+130%above the price$471
Median-36%below the priceTHB 0.14+56%above the price$318
Geometric mean-36%below the priceTHB 0.14+29%above the price$264

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%.

Solar: 1 of 1 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 case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Solar
Bear THB 0.10Fair Value THB 0.13Bull THB 0.20
THB 0.22 = current price (white tick)
First Solar
Bear $224Fair Value $392Bull $485
$204 = 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.

Solar · Industrials

Quality score21 · bottom 25%
Fair value upside-41% · below median

First Solar · Information Technology

Quality score65 · Top 25%
Fair value upside+92% · Top 25%

Bottom line

As of Aug 31, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: Solar trades at THB 0.22 versus a fair value of THB 0.13 (-41%), while First Solar trades at $204 versus $392 (+92%).

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

See the full analysis →

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