AMAT vs. FSLR: Applied Materials vs. First Solar Stock Comparison

November 11, 2026

How do Applied Materials (AMAT) and First Solar (FSLR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Applied Materials (AMAT) and First Solar (FSLR) both belong to the Semiconductors & Semiconductor Equipment industry, though AMAT is classified under Semiconductor Materials & Equipment while FSLR falls under Semiconductors.

Company profile comparison for Applied Materials (AMAT) and First Solar (FSLR)
Profile Item	AMAT	FSLR
Name	Applied Materials Inc.	First Solar Inc.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment	Semiconductors
Market Capitalization	264.04 billion USD	21.62 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	March 17, 1980	November 17, 2006
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AMAT

FSLR

GSPC

Applied Materials (AMAT) vs. First Solar (FSLR), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Applied Materials (AMAT) and First Solar (FSLR). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Applied Materials (AMAT) and First Solar (FSLR). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Total Return (1Y)	62.12%	-28.81%
Total Return (3Y, Annualized)	38.42%	12.86%
Total Return (5Y, Annualized)	19.86%	10.80%

Risk Profile

Drawdown History

AMAT

FSLR

GSPC

Applied Materials (AMAT) vs. First Solar (FSLR), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Applied Materials (AMAT) and First Solar (FSLR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Volatility (1Y, Annualized)	63.72%	52.55%
Beta (5Y)	1.68	1.67
Max Drawdown (5Y)	-55.80%	-59.97%
Avg. Volume (3M)	7.16M	2.40M

Risk-Adjusted Performance

Risk-Return Positioning

AMAT and FSLR are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Sharpe Ratio (1Y)	0.91	-0.63
Sortino Ratio (1Y)	1.35	-0.85

Profitability

ROE (TTM)

Applied Materials (AMAT) at 41.07% sits in the top ROE quartile, while First Solar (FSLR) at 18.71% is closer to the peer norm — stronger capital efficiency for AMAT.

AMAT

Semiconductors & Semiconductor Equipment industry group

41.07%

Max: 52.82%
AMAT: 41.07%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

FSLR

Semiconductors & Semiconductor Equipment industry group

18.71%

Max: 52.82%
Q3: 22.26%
FSLR: 18.71%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Applied Materials (AMAT) at 30.05% and First Solar (FSLR) at 37.12% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

AMAT

Semiconductors & Semiconductor Equipment industry group

30.05%

Max: 63.80%
AMAT: 30.05%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

FSLR

Semiconductors & Semiconductor Equipment industry group

37.12%

Max: 63.80%
FSLR: 37.12%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

Both Applied Materials (AMAT) at 33.74% and First Solar (FSLR) at 44.37% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AMAT

Semiconductors & Semiconductor Equipment industry group

33.74%

Max: 58.66%
AMAT: 33.74%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

FSLR

Semiconductors & Semiconductor Equipment industry group

44.37%

Max: 58.66%
FSLR: 44.37%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
ROE (TTM)	41.07%	18.71%
ROA (TTM)	15.48%	8.60%
Net Margin (TTM)	30.05%	37.12%
Operating Margin (TTM)	33.74%	44.37%
Gross Margin (TTM)	49.40%	49.25%

Growth

Revenue Growth

Both Applied Materials (AMAT) at 4.39% and First Solar (FSLR) at 24.09% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Applied Materials (AMAT) at 0.58% and First Solar (FSLR) at 18.22% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Revenue Growth (YoY)	4.39%	24.09%
Revenue Growth (3Y CAGR)	3.23%	25.84%
EPS Growth (YoY)	0.58%	18.22%
EPS Growth (3Y CAGR)	5.19%	--

Financial Strength

Current Ratio (MRQ)

Both Applied Materials (AMAT) at 2.42 and First Solar (FSLR) at 2.57 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

AMAT

Semiconductors & Semiconductor Equipment industry group

2.42

Max: 10.33
Q3: 5.62
Median: 3.33
AMAT: 2.42
Q1: 2.35
Min: 1.03

FSLR

Semiconductors & Semiconductor Equipment industry group

2.57

Max: 10.33
Q3: 5.62
Median: 3.33
FSLR: 2.57
Q1: 2.35
Min: 1.03

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

First Solar (FSLR) at 0.03 keeps leverage in the lower industry quartile, while Applied Materials (AMAT) at 0.29 runs a more typical debt-to-equity mix.

AMAT

Semiconductors & Semiconductor Equipment industry group

0.29

Max: 1.46
Q3: 0.65
AMAT: 0.29
Median: 0.27
Q1: 0.04
Min: 0.00

FSLR

Semiconductors & Semiconductor Equipment industry group

0.03

Max: 1.46
Q3: 0.65
Median: 0.27
Q1: 0.04
FSLR: 0.03
Min: 0.00

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Current Ratio (MRQ)	2.42	2.57
Debt / Equity (MRQ)	0.29	0.03
Net Debt / EBITDA	-0.19	-0.52

Dividends

Dividend Yield (TTM)

First Solar (FSLR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Applied Materials (AMAT) reports a yield of 0.62%, ranking against industry peers normally.

AMAT

Semiconductors & Semiconductor Equipment industry group

0.62%

Max: 1.37%
Q3: 0.65%
AMAT: 0.62%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FSLR

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 1.37%
Q3: 0.65%
FSLR: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

First Solar (FSLR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Applied Materials (AMAT) reports a payout of 16.48%, ranking against industry peers normally.

AMAT

Semiconductors & Semiconductor Equipment industry group

16.48%

Max: 49.64%
Q3: 21.71%
AMAT: 16.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FSLR

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
FSLR: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
Dividend Yield (TTM)	0.62%	0.00%
Dividend Payout Ratio (TTM)	16.48%	0.00%

Valuation

P/E Ratio (TTM)

First Solar (FSLR) at 11.63 sits in the cheaper P/E ratio quartile, while Applied Materials (AMAT) at 28.71 is closer to its industry’s usual earnings multiple — a discount for FSLR, though growth and earnings durability still matter.

AMAT

Semiconductors & Semiconductor Equipment industry group

28.71

Max: 110.34
Q3: 66.81
Median: 37.02
AMAT: 28.71
Q1: 23.96
Min: 8.12

FSLR

Semiconductors & Semiconductor Equipment industry group

11.63

Max: 110.34
Q3: 66.81
Median: 37.02
Q1: 23.96
FSLR: 11.63
Min: 8.12

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Applied Materials (AMAT) at 8.56 and First Solar (FSLR) at 4.31 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AMAT

Semiconductors & Semiconductor Equipment industry group

8.56

Max: 21.42
Q3: 12.27
AMAT: 8.56
Median: 5.76
Q1: 2.73
Min: 0.00

FSLR

Semiconductors & Semiconductor Equipment industry group

4.31

Max: 21.42
Q3: 12.27
Median: 5.76
FSLR: 4.31
Q1: 2.73
Min: 0.00

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

First Solar (FSLR) at 1.99 looks cheap against book in the lower P/B ratio quartile, while Applied Materials (AMAT) at 10.30 carries a premium in the upper quartile — a clear price-to-book gap.

AMAT

Semiconductors & Semiconductor Equipment industry group

10.30

Max: 14.06
AMAT: 10.30
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

FSLR

Semiconductors & Semiconductor Equipment industry group

1.99

Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
FSLR: 1.99
Min: 0.20

Applied Materials (AMAT) vs. First Solar (FSLR): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Applied Materials (AMAT) and First Solar (FSLR)
Metric	AMAT	FSLR
P/E Ratio (TTM)	28.71	11.63
P/S Ratio (TTM)	8.56	4.31
P/B Ratio (MRQ)	10.30	1.99
Free Cash Flow Yield (TTM)	1.16%	3.18%