First Solar was founded in 1999 and is headquartered in Tempe, US

CEO & Board of Directors

Independent Director

Independent Director

Independent Director

Chairman of the Board of Directors

First Solar has an office in Tempe

Tempe, US (HQ)

600 350 W Washington St

First Solar's revenue was reported to be $3 b in FY, 2016 which is a **18% decrease** from the previous period.

Numbers are in $, USD

## Revenue (FY, 2016) | 3 b |

## Revenue growth (FY, 2015 - FY, 2016), % | (18%) |

## Gross profit (FY, 2016) | 704 m |

## Gross profit margin (FY, 2016), % | 24% |

## Net income (FY, 2016) | (358 m) |

## EBIT (FY, 2016) | (502.6 m) |

## Market capitalization (23-May-2017) | 3.8 b |

## Closing share price (23-May-2017) | 36.4 |

## Cash (31-Dec-2016) | 1.3 b |

## EV | 2.6 b |

First Solar's current market capitalization is $3.8 b.

Numbers are in $, USD | FY, 2010^{} | FY, 2011^{} | FY, 2012^{} | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|

## Revenue | 3.3 b | 3.4 b | 3.6 b | 3 b | |||

## Revenue growth, % | 3% | 6% | (18%) | ||||

## Cost of goods sold | 1.4 b | 1.8 b | 2.5 b | 2.4 b | 2.6 b | 2.7 b | 2.2 b |

## Gross profit | 864 m | 825.6 m | 919.3 m | 704 m | |||

## Gross profit Margin, % | 26% | 24% | 26% | 24% | |||

## Operating expense total | 494.2 m | 402.9 m | 402.6 m | 1.2 b | |||

## EBIT | 368.5 m | 424.2 m | 516.7 m | (502.6 m) | |||

## EBIT margin, % | 11% | 13% | 14% | (17%) | |||

## Interest expense | 6 k | 100 k | 13.9 m | 1.9 m | 2 m | 7 m | 20.5 m |

## Interest income | 16.8 m | 18 m | 22.5 m | 25.2 m | |||

## Pre tax profit | 378.2 m | ||||||

## Income tax expense | 97.9 m | (14.2 m) | 56.5 m | 30.1 m | 31.2 m | (6.2 m) | (58.2 m) |

## Net Income | 353 m | 396.9 m | 546.4 m | (358 m) |

Numbers are in $, USD | Y, 2008^{} | Y, 2010^{} | Y, 2011^{} | Y, 2012^{} | Y, 2013^{} | Y, 2014^{} | Y, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|---|

## Cash | 765.7 m | 765.7 m | 605.6 m | 901.3 m | 1.3 b | 1.5 b | 1.1 b | 1.3 b |

## Accounts Receivable | ||||||||

## Inventories | 389 m | 505.1 m | 380.4 m | 363.2 m | ||||

## Current Assets | 3.8 b | 3.2 b | 3.3 b | 3.8 b | ||||

## PP&E | 1.4 b | 1.4 b | 1.3 b | 629.1 m | ||||

## Goodwill | 85 m | 85 m | 85 m | 14.5 m | ||||

## Total Assets | 6.9 b | 6.7 b | 7.3 b | 6.9 b | ||||

## Accounts Payable | 261.3 m | 214.7 m | 337.7 m | 148.7 m | ||||

## Total Debt | 223.3 m | 216.9 m | 289.4 m | 188.4 m | ||||

## Current Liabilities | 1.6 b | 1 b | 960.8 m | 899.7 m | ||||

## Additional Paid-in Capital | 2.6 b | 2.7 b | 2.7 b | 2.8 b | ||||

## Total Equity | 4.5 b | 5 b | 5.5 b | 5.2 b | ||||

## Debt to Equity Ratio | 0 x | 0 x | 0.1 x | 0 x | ||||

## Debt to Assets Ratio | 0 x | 0 x | 0 x | 0 x | ||||

## Financial Leverage | 1.5 x | 1.3 x | 1.3 x | 1.3 x |

Numbers are in $, USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 353 m | 396.9 m | 546.4 m | (358 m) |

## Depreciation and Amortization | 257.8 m | 230.9 m | ||

## Accounts Receivable | ||||

## Inventories | (39 m) | 9.6 m | ||

## Accounts Payable | 143.9 m | (191.6 m) | ||

## Cash From Operating Activities | 856.1 m | 681 m | (360.9 m) | 206.8 m |

## Purchases of PP&E | (282.6 m) | (257.5 m) | (166.4 m) | (229.5 m) |

## Cash From Investing Activities | (537.1 m) | (511.9 m) | (112.1 m) | 144.5 m |

## Long-term Borrowings | (65 m) | (60.1 m) | (47.1 m) | (137.4 m) |

## Cash From Financing Activities | 101.2 m | 7.4 m | 137.1 m | (136.4 m) |

## Interest Paid | (9.3 m) | (7.6 m) |

Numbers are in $, USD | Y, 2016 |
---|---|

## EV/EBIT | -5.3 x |

## EV/CFO | 12.8 x |

## Revenue/Employee | 464.8 k |

## Financial Leverage | 1.3 x |

Source: 110 public H-1B filings from First Solar