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First Solar (XSWX:FSLR) Cyclically Adjusted Price-to-FCF : (As of Jun. 10, 2024)


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What is First Solar Cyclically Adjusted Price-to-FCF?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted Price-to-FCF for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


First Solar Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for First Solar's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Solar Cyclically Adjusted Price-to-FCF Chart

First Solar Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
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First Solar Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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Competitive Comparison of First Solar's Cyclically Adjusted Price-to-FCF

For the Solar subindustry, First Solar's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Solar's Cyclically Adjusted Price-to-FCF Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, First Solar's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where First Solar's Cyclically Adjusted Price-to-FCF falls into.



First Solar Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

First Solar's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, First Solar's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2024 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=-1.222/131.7762*131.7762
=-1.222

Current CPI (Mar. 2024) = 131.7762.

First Solar Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.492 100.560 0.645
201409 -1.092 100.428 -1.433
201412 8.735 99.070 11.619
201503 -4.685 99.621 -6.197
201506 -0.451 100.684 -0.590
201509 -0.230 100.392 -0.302
201512 0.603 99.792 0.796
201603 0.309 100.470 0.405
201606 -1.327 101.688 -1.720
201609 -1.220 101.861 -1.578
201612 2.106 101.863 2.724
201703 3.646 102.862 4.671
201706 -2.520 103.349 -3.213
201709 4.407 104.136 5.577
201712 2.218 104.011 2.810
201803 -1.989 105.290 -2.489
201806 -0.621 106.317 -0.770
201809 -4.224 106.507 -5.226
201812 -2.950 105.998 -3.667
201903 -4.311 107.251 -5.297
201906 -1.548 108.070 -1.888
201909 -4.666 108.329 -5.676
201912 5.812 108.420 7.064
202003 -5.567 108.902 -6.736
202006 0.352 108.767 0.426
202009 0.870 109.815 1.044
202012 0.804 109.897 0.964
202103 -3.243 111.754 -3.824
202106 0.742 114.631 0.853
202109 1.225 115.734 1.395
202112 -1.394 117.630 -1.562
202203 -2.575 121.301 -2.797
202206 -1.013 125.017 -1.068
202209 -0.866 125.227 -0.911
202212 4.117 125.222 4.332
202303 -3.542 127.348 -3.665
202306 -4.013 128.729 -4.108
202309 -1.025 129.860 -1.040
202312 1.748 129.419 1.780
202403 -1.222 131.776 -1.222

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


First Solar  (XSWX:FSLR) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


First Solar Cyclically Adjusted Price-to-FCF Related Terms

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First Solar (XSWX:FSLR) Business Description

Industry
Address
350 West Washington Street, Suite 600, Tempe, AZ, USA, 85281
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

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