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Held by 938 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $201.16 today, the market must believe free cash flow compounds 4.9%/yr for a decade (off $1.2B normalized FCF).
The market's 4.9% is in line with its 8-yr track record.
2-stage DCF · 0.11B shares · net debt -$2.3B
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $1.2B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 15%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $2.8B covers all $500M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2023-09-30 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~8.9% on $499M of debt.
Cash of $2.8B fully covers short-term debt of $216M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.22B 100.0% | $4.21B 100.0% | $3.32B 100.0% | $2.62B 100.0% | $2.92B 100.0% | $2.71B 100.0% | $3.06B 100.0% | $2.24B 100.0% | $2.94B 100.0% | $2.90B 100.0% |
| Cost of Revenue | $3.10B 59.4% | $2.35B 55.8% | $2.02B 60.8% | $2.55B 97.3% | $2.19B 75.0% | $2.03B 74.9% | $2.51B 82.1% | $1.85B 82.5% | $2.39B 81.3% | $2.27B 78.0% |
| Cost of Products | — | — | — | — | — | — | — | — | $2.39B 81.3% | $2.27B 78.0% |
| Gross Profit | $2.12B 40.6% | $1.86B 44.2% | $1.30B 39.2% | $69.9M 2.7% | $730.0M 25.0% | $680.7M 25.1% | $549.2M 17.9% | $392.2M 17.5% | $548.9M 18.7% | $638.4M 22.0% |
| Research & Development | $233.4M 4.5% | $191.4M 4.5% | $152.3M 4.6% | $112.8M 4.3% | $99.1M 3.4% | $93.7M 3.5% | $96.6M 3.2% | $84.5M 3.8% | $88.6M 3.0% | $124.8M 4.3% |
| Selling, General & Admin | $203.8M 3.9% | $188.3M 4.5% | $197.6M 6.0% | $164.7M 6.3% | $170.3M 5.8% | $222.9M 8.2% | $205.5M 6.7% | $176.9M 7.9% | $202.7M 6.9% | $262.0M 9.0% |
| Total Operating Expenses | $523.5M 10.0% | $464.6M 11.0% | $450.3M 13.6% | $350.6M 13.4% | $290.5M 9.9% | $363.2M 13.4% | $711.0M 23.2% | $352.1M 15.7% | $371.1M 12.6% | $1.21B 41.5% |
| Operating Income | $1.60B 30.6% | $1.39B 33.2% | $857.3M 25.8% | -$27.2M -1.0% | $586.8M 20.1% | $317.5M 11.7% | -$161.8M -5.3% | $40.1M 1.8% | $177.9M 6.0% | -$568.2M -19.6% |
| Interest Expense | $44.1M 0.8% | $38.9M 0.9% | $13.0M 0.4% | $12.2M 0.5% | $13.1M 0.4% | $24.0M 0.9% | $27.1M 0.9% | $25.9M 1.2% | $25.8M 0.9% | $20.5M 0.7% |
| Interest & Investment Income | — | — | — | $33.3M 1.3% | $6.2M 0.2% | $16.6M 0.6% | $48.9M 1.6% | $59.8M 2.7% | $35.7M 1.2% | $25.2M 0.9% |
| Other Income (Expense), net | -$15.0M -0.3% | -$13.3M -0.3% | -$29.1M -0.9% | $31.2M 1.2% | $314K 0.0% | -$11.9M -0.4% | $17.5M 0.6% | $39.7M 1.8% | $24.0M 0.8% | $40.3M 1.4% |
| Pretax Income | $1.58B 30.3% | $1.41B 33.4% | $891.3M 26.9% | $8.6M 0.3% | $572.2M 19.6% | $293.2M 10.8% | -$120.1M -3.9% | $113.1M 5.0% | $202.1M 6.9% | -$537.3M -18.5% |
| Income Tax Expense | $52.7M 1.0% | $114.3M 2.7% | $60.5M 1.8% | $52.8M 2.0% | $103.5M 3.5% | -$107.3M -4.0% | -$5.5M -0.2% | $3.4M 0.2% | $372.0M 12.6% | $23.2M 0.8% |
| Net Income | $1.53B 29.3% | $1.29B 30.7% | $830.8M 25.0% | -$44.2M -1.7% | $468.7M 16.0% | $398.4M 14.7% | -$114.9M -3.8% | $144.3M 6.4% | -$165.6M -5.6% | -$416.1M -14.3% |
| Per Share | ||||||||||
| EPS (Basic) | $14.25 | $12.07 | $7.78 | $-0.41 | $4.41 | $3.76 | $-1.09 | $1.38 | $-1.59 | $-4.05 |
| EPS (Diluted) | $14.21 | $12.02 | $7.74 | $-0.41 | $4.38 | $3.73 | $-1.09 | $1.36 | $-1.59 | $-4.05 |
| Weighted Avg Shares (Basic) | 107.2M | 107.0M | 106.8M | 106.6M | 106.3M | 105.9M | 105.3M | 104.7M | 104.3M | 102.9M |
| Weighted Avg Shares (Diluted) | 107.5M | 107.5M | 107.4M | 106.6M | 106.9M | 106.7M | 105.3M | 106.1M | 104.3M | 102.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 238 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $682.3B | 24.4× | — | 2.0× | -5.0% | — | 8.7% | 11.1% | 10.7% | — | 4,568 |
| SHEL | $545.2B | — | — | — | — | — | — | — | — | — | 1,521 |
| CVX | $391.2B | 31.9× | — | 2.1× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,121 |
| TTE | $202.1B | — | — | — | — | — | — | — | — | — | 951 |
| COP | $166.8B | 21.0× | — | 2.8× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,450 |
| PBR | $155.8B | — | — | — | — | — | — | — | — | — | 524 |
| MPC | $128.7B | 31.9× | 11.0× | 1.0× | -4.4% | 10.0% | 3.0% | 23.4% | 20.6% | 0.2× | 1,802 |
| VLO | $127.5B | 54.5× | 24.1× | 1.0× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 1.7× | 1,781 |
| BP | $117.0B | — | — | — | — | — | — | — | — | — | 1,220 |
| PSX | $111.3B | 25.4× | — | 0.8× | -7.5% | 12.3% | 3.3% | 15.1% | 14.6% | — | 2,041 |
| EQNR | $110.8B | — | — | — | — | — | — | — | — | — | 398 |
| WMB | $87.7B | 33.6× | 17.8× | 7.3× | 13.8% | — | 21.9% | 20.4% | 6.3% | 4.4× | 1,736 |
| EPD | $84.1B | — | 12.6× | 1.6× | -6.4% | 26.7% | 11.0% | — | — | 3.7× | 1,573 |
| EOG | $79.0B | 15.9× | 7.7× | 3.5× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.7× | 1,525 |
| SLB | $77.9B | 22.2× | — | 2.2× | -1.6% | — | 9.4% | 12.9% | 9.4% | — | 1,624 |
| ET | $72.5B | — | 9.8× | 0.8× | 3.5% | 25.8% | 5.2% | 9.0% | 3.8% | 4.8× | 1,244 |
| KMI | $69.7B | 22.9× | 14.2× | 4.1× | 12.2% | — | 18.0% | 9.8% | 4.8% | 4.5× | 1,745 |
| TRGP | $61.2B | 33.6× | 16.2× | 3.6× | 3.9% | 38.3% | 11.3% | 62.7% | 9.4% | 3.6× | 979 |
| TS | $60.6B | — | — | — | — | — | — | — | — | — | 248 |
| MPLX | $59.4B | — | — | 4.6× | 8.9% | — | 38.1% | — | — | — | 622 |
| LNG | $59.3B | 11.2× | 7.8× | 3.0× | 27.2% | — | 26.7% | 67.3% | 17.3% | 2.2× | 1,303 |
| OKE | $58.7B | 17.2× | 12.4× | 1.8× | 55.0% | 30.5% | 10.1% | 15.1% | 6.3% | 4.4× | 1,622 |
| OXY | $58.5B | 36.8× | — | 2.7× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,250 |
| BKR | $56.2B | — | — | 2.0× | -0.3% | — | 9.3% | 13.7% | 13.3% | — | 1,095 |
| FANG | $56.0B | 34.4× | 11.2× | 3.7× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,141 |
| FSLR | $21.6B | 14.2× | — | 4.1× | 24.1% | 40.6% | 29.3% | 16.0% | 15.2% | — | 938 |
Peers = companies sharing FSLR's sector (Energy) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 55th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 82.5 | 82.1 | 74.9 | 75.0 | 97.3 | 60.8 | 55.8 | 59.4 |
| Gross Profit | 17.5 | 17.9 | 25.1 | 25.0 | 2.7 | 39.2 | 44.2 | 40.6 |
| R&D | 3.8 | 3.2 | 3.5 | 3.4 | 4.3 | 4.6 | 4.5 | 4.5 |
| SG&A | 7.9 | 6.7 | 8.2 | 5.8 | 6.3 | 6.0 | 4.5 | 3.9 |
| Operating Income | 1.8 | -5.3 | 11.7 | 20.1 | -1.0 | 25.8 | 33.2 | 30.6 |
| Income Tax | 0.2 | -0.2 | -4.0 | 3.5 | 2.0 | 1.8 | 2.7 | 1.0 |
| Net Income | 6.4 | -3.8 | 14.7 | 16.0 | -1.7 | 25.0 | 30.7 | 29.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FSLR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.