A Look At First Solar (FSLR) Valuation After Earnings Miss Backlog Strain And New US Facility Plan

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First Solar (FSLR) recently reported earnings, missing EPS expectations but exceeding revenue forecasts, while also disclosing a shrinking backlog and new order cancellations. Despite this, management announced plans for a new U.S. solar cell finishing facility to capitalize on domestic incentives and align with growing utility-scale solar demand. The stock’s valuation is complex, with one narrative suggesting it’s 25.2% overvalued at $195.32 compared to a fair value of $155.98, yet another perspective, based on market multiples, indicates it could be undervalued given its P/E ratio of 13.7x versus a peer average of 70.6x.

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