ARRY vs FSLR Stock Comparison: AI Score, Valuation, Performance and Upside
Array Technologies and First Solar both serve the utility-scale solar buildout, but Array Technologies specializes in solar tracker systems that optimize panel positioning, while First Solar manufactures the underlying thin-film solar modules themselves with substantial US-based manufacturing capacity.
ARRY offers exposure to solar tracker equipment demand tied to project buildout pace, while FSLR offers exposure to domestic solar module manufacturing with trade policy tailwinds. The decision depends on which part of the solar supply chain you find more attractively positioned.
FSLR holds the edge across 3 of 5 key metrics in this comparison. FSLR has delivered stronger 1-year price return (-31.80% vs -56.12%), though ARRY has the better forward P/E setup (5.15x vs 7.32x for FSLR). FSLR leads on both revenue growth (-3.70%) and operating margin (42.64%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for ARRY (+93.08%) than for FSLR (+59.12%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want exposure to solar tracker technology used across utility-scale solar installations
- Believe growing utility-scale solar development will continue driving tracker demand
- Value the company's forward order backlog for revenue visibility
- Are comfortable with input cost and competitive pricing sensitivity in equipment manufacturing
- Want exposure to US-based solar module manufacturing with trade policy tailwinds
- Believe domestic content requirements will continue favoring US-manufactured solar panels
- Value a differentiated thin-film module technology relative to standard crystalline silicon panels
- See the company's substantial order backlog as a source of multi-year revenue visibility
| Metric | ARRY | FSLR |
|---|---|---|
| AI scorei | 23.2 | 46.5 |
| AI ranki | #3673 | #718 |
| Latest closei | $3.80 | $182.05 |
| 1M returni | -6.86% | +4.26% |
| 3M returni | -33.04% | -21.78% |
| 6M returni | -50.39% | -13.88% |
| 1Y returni | -56.12% | -31.80% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ARRY | FSLR |
|---|---|---|
| 1Y ago | $4.52K (-54.8%) started 2025-11-03 | $6.85K (-31.5%) started 2025-11-03 |
| 5Y ago | $1.66K (-83.4%) started 2021-11-03 | $15.58K (+55.8%) started 2021-11-03 |
| 10Y ago | $1.04K (-89.6%) started 2020-10-15 | $52.75K (+427.5%) started 2016-11-03 |
Hypothetical — past performance does not guarantee future results.
| Metric | ARRY | FSLR |
|---|---|---|
| Market capi | $710.68M | $18.48B |
| Trailing P/Ei | N/A | 10.60 |
| Forward P/Ei | 5.15 | 7.32 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 1.40 | 3.15 |
| Analyst targeti | $8.92 | $273.67 |
| Target upsidei | +93.08% | +59.12% |
| Metric | ARRY | FSLR |
|---|---|---|
| Revenue growthi | -5.60% | -3.70% |
| Earnings growthi | -73.20% | 23.30% |
| EPS growthi | -73.20% | +23.30% |
| FCF margini | +11.16% | +29.73% |
| Operating margini | 10.88% | 42.64% |
| Profit margini | -7.25% | 32.46% |
| ROIC proxyi | -25.98% | 18.51% |
| Return on equityi | -25.98% | 18.51% |
| Dividend yieldi | N/A | 0.00% |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 1.77 | 1.79 |
| Debt/equityi | 254.27 | 1.88 |
| Current ratioi | 2.20 | 2.52 |
| Quick ratioi | 1.68 | 1.70 |
Over the past year, ARRY and FSLR have moved moderately in the same direction (correlation of 0.46), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | ARRY | FSLR |
|---|---|---|---|
| 1Y | Growthi | -54.82% | -31.48% |
| CAGRi | -54.94% | -31.56% | |
| Volatilityi | 75.99% | 52.24% | |
| Sharpe ratioi | -0.71 | -0.55 | |
| Sortino ratioi | -0.92 | -0.75 | |
| Max drawdowni | 73.66% | 47.16% | |
| Current drawdowni | 68.23% | 42.80% | |
| Avg drawdowni | 35.49% | 24.10% | |
| Ulcer Indexi | 42.09% | 27.38% | |
| Max daily dropi | 33.82% | 13.61% | |
| Max wkly dropi | 33.55% | 21.67% | |
| 5Y | Growthi | -83.43% | +55.82% |
| CAGRi | -30.21% | +9.28% | |
| Volatilityi | 81.62% | 54.66% | |
| Sharpe ratioi | -0.09 | 0.35 | |
| Sortino ratioi | -0.13 | 0.54 | |
| Max drawdowni | 88.37% | 59.97% | |
| Current drawdowni | 85.97% | 42.80% | |
| Avg drawdowni | 54.82% | 26.53% | |
| Ulcer Indexi | 59.17% | 30.32% | |
| Max daily dropi | 33.82% | 17.89% | |
| Max wkly dropi | 33.55% | 21.67% | |
| 10Y | Growthi | -89.57% | +427.53% |
| CAGRi | -31.19% | +18.10% | |
| Volatilityi | 81.08% | 50.79% | |
| Sharpe ratioi | -0.10 | 0.49 | |
| Sortino ratioi | -0.15 | 0.75 | |
| Max drawdowni | 93.83% | 61.26% | |
| Current drawdowni | 92.56% | 42.80% | |
| Avg drawdowni | 70.27% | 23.47% | |
| Ulcer Indexi | 72.97% | 27.85% | |
| Max daily dropi | 46.05% | 17.89% | |
| Max wkly dropi | 45.90% | 25.40% |
| Category | ARRY | FSLR |
|---|---|---|
| Company | Array Technologies, Inc. | First Solar, Inc. |
| Sector | Technology | Technology |
| Industry | Solar | Solar |
| Core business | A designer and manufacturer of ground-mount solar tracker systems that allow utility-scale solar panel arrays to follow the sun's movement throughout the day, improving energy capture for solar power plant developers. | A leading manufacturer of thin-film solar photovoltaic modules, with significant US-based manufacturing capacity that has positioned the company favorably under domestic content and tariff-related solar policy. |
| Investor focus | Utility-scale solar project pipeline conversion, tracker order backlog growth, and margin trends amid input cost and competitive pricing dynamics. | Module sales bookings and backlog conversion, US manufacturing capacity expansion, and benefit realized from domestic content and trade policy incentives. |
- Specialized focus on solar tracker technology provides differentiated positioning within the broader utility-scale solar equipment supply chain
- Tracker systems improve energy yield for solar developers, supporting demand even as underlying panel technology evolves
- Order backlog visibility into future revenue provides some forward-looking clarity on business trends
- Significant US-based manufacturing footprint provides favorable positioning relative to import-reliant solar panel competitors under trade policy
- Differentiated thin-film module technology offers an alternative to widely used crystalline silicon panels dominated by Asian manufacturers
- Strong forward order backlog provides meaningful revenue visibility over a multi-year horizon
- Revenue is closely tied to the pace of utility-scale solar project development, which can be affected by financing conditions and policy support
- Competitive pricing pressure among tracker manufacturers can compress margins during periods of oversupply
- Input cost volatility, including steel and other raw materials, can affect manufacturing profitability
- Solar policy and trade protection measures can shift with changes in government administration and legislation
- Manufacturing capacity expansion requires substantial capital investment with execution timing risk
- Global solar panel pricing competition remains intense despite the company's domestic manufacturing advantages
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