Can First Solar Stock Recover If Markets Fall?
First Solar (FSLR) stock is down 13.0% in 5 trading days. The recent slide reflects renewed concerns around 2026 booking visibility and strategic direction, but sharp drops like this often raise a tougher question: is the weakness temporary, or a sign of deeper cracks in the story?
Before judging its downturn reslience, let’s look at where First Solar stands today.
- Size: First Solar is a $26 Bil company with $4.3 Bil in revenue currently trading at $238.66.
- Fundamentals: Last 12 month revenue growth of 15.4% and operating margin of 31.3%.
- Liquidity: Has Debt to Equity ratio of 0.04 and Cash to Assets ratio of 0.09
- Valuation: First Solar stock is currently trading at P/E multiple of 20.4 and P/EBIT multiple of 18.5
- Has returned (median) 2.4% within a year following sharp dips since 2010. See FSLR Dip Buy Analysis.
These metrics point to a Strong operational performance, alongside Moderate valuation – making the stock Attractive. For details, see Buy or Sell FSLR Stock
That brings us to the key consideration for investors worried about this fall: how resilient is FSLR stock if markets turn south? This is where our downturn resilience framework comes in. Suppose FSLR stock falls another 20-30% to $167 – can investors comfortably hold on? Turns out, the stock has fared worse than the S&P 500 index during various economic downturns, based on (a) how much the stock fell and, (b) how quickly it recovered. Below, we dive deeper into each such downturn.
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2022 Inflation Shock
- FSLR stock fell 49.3% from a high of $121.14 on 1 November 2021 to $61.40 on 12 May 2022 vs. a peak-to-trough decline of 25.4% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 25 August 2022
- Since then, the stock increased to a high of $300.71 on 12 June 2024 , and currently trades at $238.66
| FSLR | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -49.3% | -25.4% |
| Time to Full Recovery | 105 days | 464 days |
2020 Covid Pandemic
- FSLR stock fell 49.1% from a high of $59.32 on 20 February 2020 to $30.20 on 18 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 14 July 2020
| FSLR | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -49.1% | -33.9% |
| Time to Full Recovery | 118 days | 148 days |
2018 Correction
- FSLR stock fell 52.6% from a high of $77.95 on 27 April 2018 to $36.91 on 29 October 2018 vs. a peak-to-trough decline of 19.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 26 August 2020
| FSLR | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -52.6% | -19.8% |
| Time to Full Recovery | 667 days | 120 days |
2008 Global Financial Crisis
- FSLR stock fell 72.0% from a high of $311.14 on 16 May 2008 to $87.23 on 20 November 2008 vs. a peak-to-trough decline of 56.8% for the S&P 500.
- The stock is yet to recover to its pre-Crisis high
| FSLR | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -72.0% | -56.8% |
| Time to Full Recovery | Not Fully Recovered | 1,480 days |
Feeling jittery about FSLR stock? Consider portfolio approach.
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