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

## Revenue (2016) | $3 b |

## Revenue growth (2015-16), % | (18%) |

## Gross profit | $704 m |

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

## Net income (2016) | ($358 m) |

## Market capitalization (21-Mar-2017) | $3.1 b |

## Closing share price (21-Mar-2017) | $30.3 |

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

First Solar's current market capitalization is $3.1 b.

First Solar's revenue was reported to be $3 b in FY, 2016 which is a **17.5% decrease** from the previous period.

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) |

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 |

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) |

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

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