First Solar price to free cash flow FSLR

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026: 12.3×
9-year median: 16.9×
Against its 9-year history: 29th; percentile: 0 is its lowest day, 100 its highest
9-year range: 7.1× to 76.9×
Peer median: 12.3×

First Solar's price to free cash flow is 12.3× as of Oct 23, 2026.

That is below its 9-year median of 16.9×, lower than on 71% of days in the last 9 years.

Over that time it ranged from 7.1× in Oct 2017 to 76.9× in Jan 2021.

The median for 10 energy stocks of a similar size is 12.3×.

Price to free cash flow over time

median 16.9×

The dashed line is the 9-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	12.3×	12.3×	47.9×
2025	47.1×	43.6×	47.7×
2024	n/m a value too high to mean anything
2023	n/m a value too high to mean anything
2022	n/m a value too high to mean anything
2021	65.5×	65.5×	76.9×
2020	71.3×	57.6×	73.8×
2019	n/m a value too high to mean anything
2018	11.4×	7.6×	36.6×
2017	8.3×	7.1×	22.4×
2016	21.0×	20.4×	23.0×
2015	22.1×	13.6×	29.0×
2014	45.9×	6.7×	56.7×
2013	7.6×	5.8×	13.4×
2012	n/m a value too high to mean anything
2011	103×	35.4×	118×
2010	34.5×	26.7×	39.0×

Against its peers

Companies in Energy nearest First Solar's size, closest first, today.

Company	Price to free cash flow
FSLRFirst Solar	12.3×
WESWestern Midstream Partners	15.3×
APAAPA	n/m
OVVOvintiv	8.8×
VNOMViper Energy	n/m
PRPermian Resources	5.4×
EXEExpand Energy	8.1×
DINOHF Sinclair	9.4×
TPLTexas Pacific Land	44.3×
DTMDT Midstream	26.3×
FTITechnipFMC	17.4×
Peer median	12.3×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on First Solar

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.