First Solar Inc (FSLR)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	464,068	464,040	437,410	320,378	184,349	254,224	170,017	247,354	236,005	241,483	276,084	254,447	237,691	—	—	—	454,187	—	—	—
Total stockholders’ equity	US$ in thousands	6,687,470	6,302,380	6,039,640	5,868,730	5,836,060	5,828,340	5,895,830	5,875,180	5,959,550	5,830,080	5,783,640	5,694,780	5,520,930	5,396,110	5,226,800	5,168,620	5,096,770	5,182,480	5,135,120	5,129,160
Debt-to-equity ratio		0.07	0.07	0.07	0.05	0.03	0.04	0.03	0.04	0.04	0.04	0.05	0.04	0.04	0.00	0.00	0.00	0.09	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $464,068K ÷ $6,687,470K
= 0.07

The debt-to-equity ratio for First Solar Inc has been relatively stable over the past eight quarters, ranging from 0.03 to 0.08. The company maintains a conservative capital structure with a low level of debt compared to equity. This indicates that First Solar relies more on equity financing rather than debt to fund its operations and growth. The decreasing trend in the debt-to-equity ratio from Q1 2023 to Q4 2023 suggests that the company may be paying off its debt or increasing its equity base. Overall, the consistent low debt levels demonstrate a financially prudent approach by First Solar in managing its capital structure.