FSLR vs. MPWR: First Solar vs. Monolithic Power Systems Stock Comparison

November 11, 2026

How do First Solar (FSLR) and Monolithic Power Systems (MPWR) 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

First Solar (FSLR) and Monolithic Power Systems (MPWR) are both classified in the Semiconductors sub-industry within the broader Semiconductors & Semiconductor Equipment industry, placing them in the closest GICS peer bucket.

Company profile comparison for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Profile Item	FSLR	MPWR
Name	First Solar Inc.	Monolithic Power Systems 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	Semiconductors	Semiconductors
Market Capitalization	21.62 billion USD	58.06 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	November 17, 2006	November 19, 2004
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FSLR

MPWR

GSPC

First Solar (FSLR) vs. Monolithic Power Systems (MPWR), 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 First Solar (FSLR) and Monolithic Power Systems (MPWR). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for First Solar (FSLR) and Monolithic Power Systems (MPWR). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Total Return (1Y)	-28.81%	42.29%
Total Return (3Y, Annualized)	12.86%	42.13%
Total Return (5Y, Annualized)	10.80%	20.48%

Risk Profile

Drawdown History

FSLR

MPWR

GSPC

First Solar (FSLR) vs. Monolithic Power Systems (MPWR), 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 First Solar (FSLR) and Monolithic Power Systems (MPWR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Volatility (1Y, Annualized)	52.55%	57.22%
Beta (5Y)	1.67	1.67
Max Drawdown (5Y)	-59.97%	-51.65%
Avg. Volume (3M)	2.40M	776.23K

Risk-Adjusted Performance

Risk-Return Positioning

FSLR and MPWR 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 First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Sharpe Ratio (1Y)	-0.63	0.66
Sortino Ratio (1Y)	-0.85	0.98

Profitability

ROE (TTM)

Monolithic Power Systems (MPWR) at 24.47% sits in the top ROE quartile, while First Solar (FSLR) at 18.71% is closer to the peer norm — stronger capital efficiency for MPWR.

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%

MPWR

Semiconductors & Semiconductor Equipment industry group

24.47%

Max: 52.82%
MPWR: 24.47%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

First Solar (FSLR) at 37.12% retains a top-quartile share of revenue as profit, ahead of Monolithic Power Systems (MPWR) at 23.89%, which keeps about the industry-typical share.

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%

MPWR

Semiconductors & Semiconductor Equipment industry group

23.89%

Max: 63.80%
Q3: 28.36%
MPWR: 23.89%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

First Solar (FSLR) at 44.37% operates in the top operating margin quartile, ahead of Monolithic Power Systems (MPWR) at 29.75%, which runs around its industry’s norm.

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%

MPWR

Semiconductors & Semiconductor Equipment industry group

29.75%

Max: 58.66%
Q3: 30.23%
MPWR: 29.75%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
ROE (TTM)	18.71%	24.47%
ROA (TTM)	8.60%	15.52%
Net Margin (TTM)	37.12%	23.89%
Operating Margin (TTM)	44.37%	29.75%
Gross Margin (TTM)	49.25%	55.26%

Growth

Revenue Growth

Monolithic Power Systems (MPWR) at 26.43% sits in the top revenue growth quartile, while First Solar (FSLR) at 24.09% is closer to the peer norm — faster top-line expansion for MPWR.

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their Revenue Growth across different time periods.

EPS Growth

First Solar (FSLR) at 18.22% is around its peer norm for EPS growth, while Monolithic Power Systems (MPWR) at -64.85% drops into the bottom quartile, signaling weaker earnings momentum.

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Revenue Growth (YoY)	24.09%	26.43%
Revenue Growth (3Y CAGR)	25.84%	15.86%
EPS Growth (YoY)	18.22%	-64.85%
EPS Growth (3Y CAGR)	--	12.43%

Financial Strength

Current Ratio (MRQ)

Both First Solar (FSLR) at 2.57 and Monolithic Power Systems (MPWR) at 3.70 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

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

MPWR

Semiconductors & Semiconductor Equipment industry group

3.70

Max: 10.33
Q3: 5.62
MPWR: 3.70
Median: 3.33
Q1: 2.35
Min: 1.03

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

Both First Solar (FSLR) at 0.03 and Monolithic Power Systems (MPWR) at 0.01 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

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

MPWR

Semiconductors & Semiconductor Equipment industry group

0.01

Max: 1.46
Q3: 0.65
Median: 0.27
Q1: 0.04
MPWR: 0.01
Min: 0.00

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Current Ratio (MRQ)	2.57	3.70
Debt / Equity (MRQ)	0.03	0.01
Net Debt / EBITDA	-0.52	-0.92

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 Monolithic Power Systems (MPWR) reports a yield of 0.67%, ranking against industry peers normally.

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%

MPWR

Semiconductors & Semiconductor Equipment industry group

0.67%

Max: 1.37%
MPWR: 0.67%
Q3: 0.65%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): 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 Monolithic Power Systems (MPWR) reports a payout of 41.65%, ranking against industry peers normally.

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%

MPWR

Semiconductors & Semiconductor Equipment industry group

41.65%

Max: 49.64%
MPWR: 41.65%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
Dividend Yield (TTM)	0.00%	0.67%
Dividend Payout Ratio (TTM)	0.00%	41.65%

Valuation

P/E Ratio (TTM)

First Solar (FSLR) at 11.63 sits in the cheaper P/E ratio quartile, while Monolithic Power Systems (MPWR) at 65.27 is closer to its industry’s usual earnings multiple — a discount for FSLR, though growth and earnings durability still matter.

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

MPWR

Semiconductors & Semiconductor Equipment industry group

65.27

Max: 110.34
Q3: 66.81
MPWR: 65.27
Median: 37.02
Q1: 23.96
Min: 8.12

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

First Solar (FSLR) at 4.31 is priced about in line with its industry on P/S ratio, while Monolithic Power Systems (MPWR) at 15.53 sits in the pricier quartile — MPWR costs more per dollar of sales.

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

MPWR

Semiconductors & Semiconductor Equipment industry group

15.53

Max: 21.42
MPWR: 15.53
Q3: 12.27
Median: 5.76
Q1: 2.73
Min: 0.00

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): 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 sits in the lower P/B ratio quartile relative to book while Monolithic Power Systems (MPWR) at 15.56 prices above its industry range — a wide valuation gap against assets.

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

MPWR

Semiconductors & Semiconductor Equipment industry group

15.56

MPWR: 15.56
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

First Solar (FSLR) vs. Monolithic Power Systems (MPWR): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for First Solar (FSLR) and Monolithic Power Systems (MPWR)
Metric	FSLR	MPWR
P/E Ratio (TTM)	11.63	65.27
P/S Ratio (TTM)	4.31	15.53
P/B Ratio (MRQ)	1.99	15.56
Free Cash Flow Yield (TTM)	3.18%	0.87%