FSLR vs. MTSI: First Solar vs. MACOM Stock Comparison

November 11, 2026

How do First Solar (FSLR) and MACOM (MTSI) 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 MACOM (MTSI) 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 MACOM (MTSI)
Profile Item	FSLR	MTSI
Name	First Solar Inc.	MACOM Technology Solutions Holdings, 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	16.11 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	November 17, 2006	March 15, 2012
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FSLR

MTSI

GSPC

First Solar (FSLR) vs. MACOM (MTSI), 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 MACOM (MTSI). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
Total Return (1Y)	-28.81%	33.29%
Total Return (3Y, Annualized)	12.86%	46.28%
Total Return (5Y, Annualized)	10.80%	25.03%

Risk Profile

Drawdown History

FSLR

MTSI

GSPC

First Solar (FSLR) vs. MACOM (MTSI), 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 MACOM (MTSI). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
Volatility (1Y, Annualized)	52.55%	68.69%
Beta (5Y)	1.67	1.83
Max Drawdown (5Y)	-59.97%	-53.54%
Avg. Volume (3M)	2.40M	1.51M

Risk-Adjusted Performance

Risk-Return Positioning

FSLR and MTSI 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 MACOM (MTSI)
Metric	FSLR	MTSI
Sharpe Ratio (1Y)	-0.63	0.42
Sortino Ratio (1Y)	-0.85	0.58

Profitability

ROE (TTM)

Both First Solar (FSLR) at 18.71% and MACOM (MTSI) at 22.17% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

MTSI

Semiconductors & Semiconductor Equipment industry group

22.17%

Max: 52.82%
Q3: 22.26%
MTSI: 22.17%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

First Solar (FSLR) vs. MACOM (MTSI): 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 MACOM (MTSI) at 25.25%, 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%

MTSI

Semiconductors & Semiconductor Equipment industry group

25.25%

Max: 63.80%
Q3: 28.36%
MTSI: 25.25%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

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

Operating Margin (TTM)

Both First Solar (FSLR) at 44.37% and MACOM (MTSI) at 31.66% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

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%

MTSI

Semiconductors & Semiconductor Equipment industry group

31.66%

Max: 58.66%
MTSI: 31.66%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

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

Profitability Metrics

Profitability metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
ROE (TTM)	18.71%	22.17%
ROA (TTM)	8.60%	8.66%
Net Margin (TTM)	37.12%	25.25%
Operating Margin (TTM)	44.37%	31.66%
Gross Margin (TTM)	49.25%	58.11%

Growth

Revenue Growth

Only one side can be read here: First Solar (FSLR) reports revenue growth of 24.09%, ranked against its industry; MACOM (MTSI) has no revenue growth figure this period.

First Solar (FSLR) vs. MACOM (MTSI): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: First Solar (FSLR) reports EPS growth of 18.22%, ranked against its industry; MACOM (MTSI) has no EPS growth figure this period.

First Solar (FSLR) vs. MACOM (MTSI): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
Revenue Growth (YoY)	24.09%	--
Revenue Growth (3Y CAGR)	25.84%	--
EPS Growth (YoY)	18.22%	--
EPS Growth (3Y CAGR)	--	49.88%

Financial Strength

Current Ratio (MRQ)

Both First Solar (FSLR) at 2.57 and MACOM (MTSI) at 2.54 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

MTSI

Semiconductors & Semiconductor Equipment industry group

2.54

Max: 10.33
Q3: 5.62
Median: 3.33
MTSI: 2.54
Q1: 2.35
Min: 1.03

First Solar (FSLR) vs. MACOM (MTSI): 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 MACOM (MTSI) at 0.24 runs a more typical debt-to-equity mix.

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

MTSI

Semiconductors & Semiconductor Equipment industry group

0.24

Max: 1.46
Q3: 0.65
Median: 0.27
MTSI: 0.24
Q1: 0.04
Min: 0.00

First Solar (FSLR) vs. MACOM (MTSI): 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 MACOM (MTSI)
Metric	FSLR	MTSI
Current Ratio (MRQ)	2.57	2.54
Debt / Equity (MRQ)	0.03	0.24
Net Debt / EBITDA	-0.52	-1.04

Dividends

Dividend Yield (TTM)

Neither First Solar (FSLR) nor MACOM (MTSI) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

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%

MTSI

Semiconductors & Semiconductor Equipment industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

Neither First Solar (FSLR) nor MACOM (MTSI) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

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%

MTSI

Semiconductors & Semiconductor Equipment industry group

0.00%

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

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

Dividend Metrics

Dividend metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

First Solar (FSLR) at 11.63 sits in the cheaper P/E ratio quartile, while MACOM (MTSI) at 48.95 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

MTSI

Semiconductors & Semiconductor Equipment industry group

48.95

Max: 110.34
Q3: 66.81
MTSI: 48.95
Median: 37.02
Q1: 23.96
Min: 8.12

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

P/S Ratio (TTM)

On P/S ratio, both First Solar (FSLR) at 4.31 and MACOM (MTSI) at 12.14 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

MTSI

Semiconductors & Semiconductor Equipment industry group

12.14

Max: 21.42
Q3: 12.27
MTSI: 12.14
Median: 5.76
Q1: 2.73
Min: 0.00

First Solar (FSLR) vs. MACOM (MTSI): 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 MACOM (MTSI) at 9.50 carries a premium in the upper quartile — a clear price-to-book gap.

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

MTSI

Semiconductors & Semiconductor Equipment industry group

9.50

Max: 14.06
MTSI: 9.50
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

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

Valuation Metrics

Valuation metrics for First Solar (FSLR) and MACOM (MTSI)
Metric	FSLR	MTSI
P/E Ratio (TTM)	11.63	48.95
P/S Ratio (TTM)	4.31	12.14
P/B Ratio (MRQ)	1.99	9.50
Free Cash Flow Yield (TTM)	3.18%	1.15%