Revenue from the solar industry: 100%
Top 3 markets:

• USA: 60%
• India: 15%
• Europe: 10%

First Solar, Inc. generates its revenue entirely from the solar industry, with a focus on manufacturing solar modules and developing photovoltaic power plants. The largest market for First Solar is the USA, accounting for about 60% of its revenue, attributed to the strong demand for renewable energy and government incentive programs.

India is the second-largest market with a share of 15%, as the country heavily invests in solar energy to diversify its energy supply and reduce dependence on fossil fuels. Europe follows with a share of 10%, driven by the EU's goals to reduce CO2 emissions and expand renewable energy sources.

Production sites of First Solar, Inc.:

1. United States
2. Malaysia
3. Vietnam
4. India (planned expansion)

First Solar, Inc. is a leading manufacturer of solar modules and operates several production facilities worldwide. The main production sites are located in the United States, Malaysia, and Vietnam.

In the USA, First Solar operates large production plants, which are supported by the US government and the demand for locally produced solar modules. The production facilities in Malaysia and Vietnam enable the company to produce cost-effectively and serve the Asian market at the same time.

In addition, First Solar plans to expand its production capacities in India to benefit from local market developments and the growing demand for renewable energies. This strategic expansion supports the company in strengthening its global market presence and further optimizing production costs.

Revenue Growth: Expected 10-12% annually (2025-2027, estimate)
Investments in Research & Development: Over 1 billion USD by 2027 (estimate)

First Solar, Inc. pursues a growth strategy that heavily relies on technological innovation and geographical expansion. The company invests significantly in research and development to further increase the efficiency of its solar modules and reduce production costs. These investments are intended to strengthen First Solar's competitiveness in the global market.

Another focus is on tapping into new markets, especially in regions with growing demand for renewable energies. First Solar plans to expand its production capacities in strategically important markets to benefit from the increasing global shift to sustainable energy sources.

In addition, the company pursues partnerships and joint ventures to expand its market presence and explore new business opportunities. These strategic alliances are intended not only to facilitate market access but also to create technological synergies.

Main raw materials: Cadmium telluride, glass, aluminum, copper
Countries of origin: China, USA, Canada, Germany

First Solar, Inc. mainly sources cadmium telluride, glass, aluminum, and copper for the production of its solar modules. These materials are essential for the manufacturing of thin-film solar modules.

Cadmium telluride is often mined in the USA and Canada, as these countries have significant deposits. Glass and aluminum are frequently imported from China, as China is one of the largest producers of these materials. Copper is sourced from the USA as well as countries like Chile and Peru, which are among the world's leading copper producers.

First Solar diversifies its supply chains to minimize risks and ensure supply security. This includes collaborating with suppliers from Germany, known for their high-quality materials.

Market share in the solar industry: 5.6% (2024, estimated)
Technological edge: CdTe technology (Cadmium Telluride)
Production capacity: 10 GW (2024)

First Solar, Inc. has a significant competitive advantage due to its proprietary Cadmium Telluride (CdTe) thin-film technology, which is more cost-effective and efficient in certain climatic zones than conventional silicon-based solar modules. This technology allows the company to stand out from the competition and perform particularly well in markets with high temperatures and diffuse light conditions.

In addition, First Solar benefits from strong production capacity and a global presence, enabling the company to capitalize on the increasing demand for renewable energy worldwide. Continuous investment in research and development strengthens the technological edge and ensures long-term competitiveness.

Another advantage is the company's vertical integration, which enables cost efficiency and control over the entire value chain. This helps improve margins and reduce dependence on external suppliers.

Institutional investor share: approx. 70% (2025, estimated) Insider purchases/sales: No significant changes in the last year (2025, estimated)

The institutional investor share at First Solar, Inc. traditionally stands at around 70%, indicating the trust of large investors in the company's long-term strategy and market position. These investors include pension funds, investment funds, and other major financial institutions that focus on sustainable investments.

In 2025, there were no significant insider purchases or sales, suggesting that the management has a stable confidence in the current corporate strategy and future growth prospects. This can be seen as a positive signal for market participants, as it indicates a stable internal assessment of the company's development.

Market share of First Solar, Inc.: 10% (estimated for 2025)

Main competitors and their market shares:

1. JinkoSolar Holding Co., Ltd.: 15%
2. LONGi Green Energy Technology Co., Ltd.: 14%
3. Canadian Solar Inc.: 12%
4. Trina Solar Limited: 11%
5. First Solar, Inc.: 10%
6. JA Solar Technology Co., Ltd.: 9%
7. SunPower Corporation: 8%
8. Hanwha Q CELLS Co., Ltd.: 7%
9. Risen Energy Co., Ltd.: 6%
10. GCL-Poly Energy Holdings Limited: 5%

Moat of First Solar, Inc.:

First Solar has a significant moat due to its proprietary Cadmium Telluride (CdTe) thin-film technology, which is more cost-effective and efficient in production compared to conventional silicon-based modules. This technology allows First Solar to achieve higher energy yields in specific climate zones, providing a competitive advantage.

Compared to competitors mainly relying on crystalline silicon technology, First Solar offers a differentiated product line preferred in specific markets and applications. This gives the company a niche it can defend against the competition.

However, some competitors like LONGi and JinkoSolar have also developed strong moats through massive production capacities and economies of scale. These companies can offer competitive prices and high production volumes due to their size and efficiency, intensifying the competition.

In summary, First Solar has a technological advantage, but competitors also hold strong market positions due to economies of scale and production capacities.

Revenue growth: 18% (2024) Profit growth: 22% (2024) Market share in the solar sector: 10% (2024)

First Solar, Inc. achieved an impressive revenue growth of 18% in 2024, attributed to the increasing demand for renewable energy and expansion into new markets. The company also recorded a profit growth of 22%, driven by efficiency improvements and cost reductions in production.

First Solar has established itself as one of the leading providers in the solar sector, holding a market share of approximately 10%. The strategic focus on sustainable technologies and continuous investment in research and development strengthen the company's competitive position.

Given these positive developments and the global trend towards renewable energies, First Solar could represent an attractive investment opportunity. The long-term growth prospects are promising, especially considering the increasing governmental support for green energy projects worldwide.

Dividend: No payout (as of 2023)

First Solar, Inc. is known for not paying dividends to its shareholders. The company typically reinvests its profits in the business to expand its production capacities and drive technological innovations.

This strategy is typical for companies in the growth phase, especially in the solar industry, where significant investments in research and development as well as in expanding production capacities are required. Investors who invest in First Solar often do so with the aim of capital growth through stock price increases, rather than expecting regular dividend income.