First Solar Competitors
| FSLR Stock | USD 193.76 -2.43 -1.24% |
Correlation: First Solar vs Pembina Pipeline Details
Near-perfect hedge
Across the chosen horizon, First Solar and Pembina Pipeline show a correlation of -0.72 and fall into the Near-perfect hedge bucket. Lower overlap tends to improve diversification, while higher overlap means both positions carry similar risk.
Statistical evidence for mean reversion in First Solar's appears through its tendency to revert after extreme valuations. Under mean reversion theory, First Solar's price extremes are viewed as temporary dislocations that may self-correct. Mean reversion in First Solar's is often observed around historical valuation multiples. Historical data for First Solar shows that extreme valuations have tended to normalize over multi-year periods.
First Solar Competition Correlation Matrix
Correlation analysis between First Solar and its competitors provides context for understanding whether diversification is real or only superficial inside the same peer group. When interpreted alongside fundamentals, correlation analysis separates broad industry exposure from company-specific behavior before additional capital is allocated across the peer group.
High positive correlations
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Risk-Adjusted Indicators
Headline performance for First Stock may not fully reflect how the business compares across its competitive set. Risk-adjusted metrics help compare First Solar's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CVE | 1.81 | 0.56 | 0.25 | -1.11 | 1.95 | 3.98 | 10.04 | |||
| WDS | 1.72 | 0.58 | 0.27 | -0.68 | 1.77 | 4.03 | 13.17 | |||
| NXT | 3.55 | 0.37 | 0.09 | 0.20 | 3.82 | 7.03 | 21.56 | |||
| TRGP | 1.15 | 0.37 | 0.28 | -10.87 | 0.97 | 2.87 | 6.06 | |||
| CQP | 1.36 | 0.18 | 0.10 | -1.00 | 1.66 | 3.39 | 11.47 | |||
| EXE | 1.56 | -0.17 | 0.00 | 1.42 | 0.00 | 3.74 | 9.08 | |||
| HAL | 1.63 | 0.31 | 0.16 | -3.21 | 1.66 | 3.36 | 7.20 | |||
| EQT | 1.42 | 0.12 | 0.06 | -1.93 | 1.90 | 2.87 | 8.58 | |||
| PBA | 0.79 | 0.17 | 0.17 | -1.17 | 0.77 | 1.99 | 4.53 |
Peer Comparison: Net Income
Net income is what remains after all costs — operating expenses, interest, taxes, and preferred dividends — are deducted from First Solar's total revenue. The relationship between net income growth and revenue growth at First Solar reveals whether margin expansion is driving earnings or whether top-line growth is being consumed by rising costs and financing charges.Compare First Solar and related stocks such as Cenovus Energy, Woodside Energy Group, and Nextracker Class A Net Income Over Time
Select Fundamental| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CVE | 2.9 B | 1.5 B | 995 M | 662 M | 744 M | 618 M | -545 M | 3.4 B | -2.7 B | 2.2 B | -2.4 B | 587 M | 6.5 B | 4.1 B | 3.1 B | 3.9 B | 4.1 B |
| WDS | 81.2 M | 1.5 B | 2.9 B | 1.7 B | 2.4 B | 26 M | 868 M | 1.1 B | 1.4 B | 343 M | -4 B | 2 B | 6.5 B | 1.7 B | 3.6 B | 2.7 B | 2.9 B |
| NXT | -1.6 M | -1.6 M | -1.6 M | -1.6 M | -1.6 M | -1.6 M | -1.6 M | -1.6 M | -1.6 M | 118.3 M | 124.3 M | 50.9 M | 118.9 M | 306.2 M | 509.2 M | 585.5 M | 614.8 M |
| TRGP | 37.3 M | 30.7 M | 38.1 M | 65.1 M | 102.3 M | 58.3 M | -187.3 M | 54 M | 1.6 M | -209.2 M | -1.6 B | 71.2 M | 1.1 B | 828.2 M | 1.3 B | 1.8 B | 1.9 B |
| CQP | -4.7 M | -31 M | -150.1 M | -240 M | -410 M | -319 M | -171 M | 490 M | 1.3 B | 1.2 B | 1.2 B | 1.6 B | 2.5 B | 4.3 B | 2.5 B | 3 B | 3.1 B |
| EXE | -400 K | 1.7 B | -769 M | 724 M | 1.9 B | -14.6 B | -4.4 B | -505 M | 226 M | -308 M | -9.7 B | 6.3 B | 4.9 B | 2.4 B | -714 M | 1.8 B | 1.9 B |
| HAL | 28.7 M | 2.8 B | 2.6 B | 2.1 B | 3.5 B | -671 M | -5.8 B | -463 M | 1.7 B | -1.1 B | -2.9 B | 1.5 B | 1.6 B | 2.6 B | 2.5 B | 1.3 B | 670.1 M |
| EQT | 55 M | 479.8 M | 183.4 M | 390.6 M | 387 M | 85.2 M | -453 M | 1.5 B | -2.2 B | -1.2 B | -958.8 M | -1.1 B | 1.8 B | 1.7 B | 230.6 M | 2 B | 2.1 B |
| PBA | 19.3 M | 165.7 M | 224.8 M | 351 M | 383 M | 406 M | 466 M | 891 M | 1.3 B | 1.5 B | -316 M | 1.2 B | 3 B | 1.8 B | 1.9 B | 1.7 B | 1.8 B |
First Solar Competitive Analysis
A side-by-side look at First Solar, Cenovus Energy, Woodside Energy, and Nextracker highlights where each stock leads or lags. First Solar enters the comparison at 20.82 B with 5.22 B in revenue. Profitability stands at a 29.28% net margin with return on equity reaching 17.45%. Cenovus Energy pulls in 49.66 B in revenue while First Solar reports 5.22 B. Valuation multiples differ: First Solar at 35.42x P/E versus Woodside Energy at 8.15x, suggesting different growth expectations. Return on equity favors Nextracker at 33.17%, well ahead of First Solar at 17.45%.| Better Than Average | Worse Than Peers | View Performance Chart |
First Solar Competition Peer Performance Charts
How to Analyze First Solar Against Peers
First Solar's peer analysis compares First Solar with related companies to put valuation, quality, and risk metrics in context. This establishes whether recent performance is company-specific or broadly sector-driven. A practical workflow includes:- Set a relevant peer group: Include direct competitors and close alternatives with comparable business exposure.
- Benchmark core financials: Compare profitability, growth, capital structure, and cash flow quality.
- Check valuation dispersion: Review whether First Solar trades at a premium or discount versus peers and why.
- Evaluate risk profile: Compare volatility, drawdowns, and correlation to avoid false diversification assumptions.
- Document the thesis: Record where First Solar leads or lags and what catalysts could close or widen the gap.
Peer Comparison Metrics & Methodology
First Solar carries less net debt relative to EBITDA than most competitors, giving it more room to invest or weather downturns. Comparative analysis works best when peers share business drivers, cycle exposure, and capital structure characteristics. For peer comparison, First Solar has a market cap of 20.82 B, P/E of 35.42, profit margin of 29.28%.
First Solar figures are aggregated from periodic company reporting and market reference feeds and normalized across reporting formats. Where analyst coverage exists, consensus estimates are factored in.
Editorial review and methodology oversight provided by: Gabriel Shpitalnik, Member of Macroaxis Editorial Board