First Solar [FSLR] vs Enphase Energy [ENPH] Detailed Stock Comparison

First Solar Inc.

NASDAQ
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Enphase Energy Inc.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 20 vital metrics comparison: First Solar Inc. wins in 15 metrics, Enphase Energy Inc. wins in 5 metrics, with 0 ties. First Solar Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric First Solar Inc. Enphase Energy Inc. Better
P/E Ratio (TTM) 13.41 26.06 First Solar Inc.
Price-to-Book Ratio 2.14 4.05 First Solar Inc.
Debt-to-Equity Ratio 6.87 114.42 First Solar Inc.
PEG Ratio 0.42 -0.75 First Solar Inc.
EV/EBITDA 8.49 17.32 First Solar Inc.
Profit Margin (TTM) 29.28% 11.69% First Solar Inc.
Operating Margin (TTM) 32.56% 6.35% First Solar Inc.
EBITDA Margin (TTM) 32.56% 6.35% First Solar Inc.
Return on Equity 17.45% 17.93% Enphase Energy Inc.
Return on Assets (TTM) 7.84% 3.05% First Solar Inc.
Free Cash Flow (TTM) $1.19B $95.90M First Solar Inc.
1-Year Return 52.57% 19.71% First Solar Inc.
Price-to-Sales Ratio (TTM) 3.92 3.01 Enphase Energy Inc.
Enterprise Value $18.05B $4.14B First Solar Inc.
EV/Revenue Ratio 3.46 2.81 Enphase Energy Inc.
Gross Profit Margin (TTM) 39.54% 44.28% Enphase Energy Inc.
Revenue per Share (TTM) $49 $11 First Solar Inc.
Earnings per Share (Diluted) $14.21 $1.29 First Solar Inc.
Beta (Stock Volatility) 1.61 1.38 Enphase Energy Inc.
Short % of Float 9.07% 23.21% First Solar Inc.

First Solar Inc. vs Enphase Energy Inc. Stock Performance Analysis

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FSLR
ENPH

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
First Solar Inc.2.32%-0.68%17.20%37.11%6.89%-0.30%
Enphase Energy Inc.-4.02%-7.88%-0.93%14.19%67.04%55.26%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
First Solar Inc.52.57%41.44%247.29%450.93%119.92%980.48%
Enphase Energy Inc.19.71%-69.97%-67.08%2,475.00%643.73%643.73%

Performance & Financial Health Analysis: First Solar Inc. vs Enphase Energy Inc.

MetricFSLRENPH
Market Information
Market Cap i$21.08B$4.77B
Market Cap CategoryLarge capMid cap
10 Day Avg. Volume i2,079,6806,742,220
90 Day Avg. Volume i1,809,6135,654,417
Last Close$273.51$52.40
52 Week Range$135.50 - $320.95$25.78 - $73.74
% from 52W High-14.78%-28.95%
All-Time High$320.95 (Jun 03, 2026)$339.92 (Dec 05, 2022)
% from All-Time High-14.78%-84.58%
Growth Metrics
Quarterly Revenue Growth0.11%-0.10%
Quarterly Earnings Growth0.33%-0.38%
Financial Health
Profit Margin (TTM) i0.29%0.12%
Operating Margin (TTM) i0.33%0.06%
Return on Equity (TTM) i0.17%0.18%
Debt to Equity (MRQ) i6.87114.42
Cash & Liquidity
Book Value per Share (MRQ)$88.88$8.29
Cash per Share (MRQ)$26.61$11.54
Operating Cash Flow (TTM) i$2.06B$136.54M
Levered Free Cash Flow (TTM) i$963.92M$37.60M
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/AN/A

Valuation & Enterprise Metrics Analysis: First Solar Inc. vs Enphase Energy Inc.

MetricFSLR (Apr 24, 2026)ENPH (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i13.4126.06
Forward P/E i7.8412.51
PEG Ratio i0.42-0.75
Price to Sales (TTM) i3.923.01
Price to Book (MRQ) i2.144.05
Market Capitalization
Market Capitalization i$21.08B$4.77B
Enterprise Value i$18.05B$4.14B
Enterprise Value Metrics
Enterprise to Revenue i3.462.81
Enterprise to EBITDA i8.4917.32
Risk & Other Metrics
Beta i1.611.38
Book Value per Share (MRQ) i$88.88$8.29

Financial Statements Comparison: First Solar Inc. vs Enphase Energy Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricFSLR (2025)ENPH (2025)
Revenue/Sales i5.22B1.47B
Cost of Goods Sold i3.10B785.98M
COGS % of Revenue i59.4%53.4%
Gross Profit i2.12B687.00M
Gross Margin i40.6%46.6%
Research & Development i233.42M189.08M
Operating Income (EBIT) i1.60B164.66M
Operating Margin i30.6%11.2%
EBITDA i2.19B297.11M
EBITDA Margin i42.0%20.2%
Pre-Tax Income i1.58B204.81M
Pre-Tax Income % of Revenue i30.3%13.9%
Income Tax i52.68M32.68M
Income Tax % of Revenue i1.0%2.2%
Net Income (Profit) i1.53B172.13M
Profit Margin i29.3%11.7%

Balance Sheet & Liquidity Metrics

MetricFSLR (2025)ENPH (2025)
Cash & Equivalents i2.80B474.32M
Total Current Assets i6.03B2.61B
Total Current Assets % of Revenue i115.5%177.0%
Total Current Liabilities i2.25B1.26B
Total Current Liabilities % of Revenue i43.2%85.7%
Long-Term Debt i421.27M572.19M
Long-Term Debt % of Revenue i8.1%38.8%
Total Shareholders Equity i9.54B1.09B
Retained Earnings i6.79B-203.90M
Retained Earnings % of Revenue i130.1%-13.8%
Property, Plant & Equipment i196.06M0

Cash Flow Statement Comparison

MetricFSLR (2025)ENPH (2025)
Operating Cash Flow i2.05B302.36M
Operating Cash Flow % of Revenue i39.3%20.5%
Capital Expenditures i-869.88M-40.64M
Free Cash Flow i1.19B95.90M
FCF Margin i22.7%6.5%
Debt Repayment i-473.36M-102.17M
Common Stock Repurchase iN/A-129.96M

Short Interest & Institutional Ownership Analysis

MetricFSLRENPH
Shares Short i7.45M25.40M
Short Ratio i4.175.16
Short % of Float i9.07%23.21%
Shares Outstanding i107.31M131.08M
Float Shares i101.45M127.10M
% Held by Insiders i5.43%3.05%
% Held by Institutions i99.57%98.28%
% Held by Public i-5.00%-1.33%

Dividend Analysis & Yield Comparison: First Solar Inc. vs Enphase Energy Inc.

MetricFSLRENPH
Last 12-Month Dividend iN/AN/A
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/AN/A
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/AN/A
Ex-Dividend DateN/AN/A