Arm Holdings
ARM Β· Semiconductors
$210.33
οΏ½οΏ½First Solar
FSLR Β· Semiconductors
$171.99
0.4%The short version
- First Solar is the larger business, with $5.2B of revenue in fiscal 2025 against $4.9B for Arm Holdings.
- First Solar grew revenue faster (24.1%, against 22.8%).
- First Solar kept more of each dollar of sales as operating profit (30.6% operating margin, against 18.3% operating margin).
- First Solar turned more of its sales into free cash flow (22.8% FCF margin, against 19.9% FCF margin).
| Latest fiscal year | ARM Β· FY26 | FSLR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $224.6B | $18.5B |
| Revenue | $4.9B | $5.2B |
| Free cash flow | $979M | $1.2B |
| Net income | $904M | $1.5B |
| Growth | ||
| Revenue growth | 22.8% | 24.1% |
| 5-year growth | β | 14.0% |
| Share count change | 0.5% | 0.0% |
| Profitability | ||
| Gross margin | 97.5% | 40.6% |
| Operating margin | 18.3% | 30.6% |
| Net margin | 18.4% | 29.3% |
| FCF margin | 19.9% | 22.8% |
| Return on capital | β | 22.7% |
| Return on equity | 12.0% | 17.5% |
| Balance sheet | ||
| Net debt | β | β$2.5B |
| Net debt / EBITDA | β | β1.2x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | β | 10.6x |
| Piotroski F-score | β | 7 |
FY17
ARM β
FSLR $2.9B
FY18
ARM β
FSLR $2.2B
FY19
ARM β
FSLR $3.1B
FY20
ARM β
FSLR $2.7B
FY21
ARM β
FSLR $2.9B
FY22
ARM $2.7B
FSLR $2.6B
FY23
ARM $2.7B
FSLR $3.3B
FY24
ARM $3.2B
FSLR $4.2B
FY25
ARM $4.0B
FSLR $5.2B
FY26
ARM $4.9B
FSLR β
ARM
FSLR
FY17
ARM β
FSLR 6.1%
FY18
ARM β
FSLR 1.8%
FY19
ARM β
FSLR β5.3%
FY20
ARM β
FSLR 11.7%
FY21
ARM β
FSLR 20.1%
FY22
ARM 23.4%
FSLR β1.0%
FY23
ARM 25.1%
FSLR 25.8%
FY24
ARM 3.4%
FSLR 33.2%
FY25
ARM 20.7%
FSLR 30.6%
FY26
ARM 18.3%
FSLR β
ARM
FSLR
FY17
ARM β
FSLR $826M
FY18
ARM β
FSLR β$1.1B
FY19
ARM β
FSLR β$495M
FY20
ARM β
FSLR β$380M
FY21
ARM β
FSLR β$303M
FY22
ARM $424M
FSLR β$30.2M
FY23
ARM $675M
FSLR β$785M
FY24
ARM $998M
FSLR β$308M
FY25
ARM $178M
FSLR $1.2B
FY26
ARM $979M
FSLR β
ARM
FSLR
FY17
ARM β
FSLR 2.7%
FY18
ARM β
FSLR 1.4%
FY19
ARM β
FSLR β3.9%
FY20
ARM β
FSLR 8.5%
FY21
ARM β
FSLR 11.4%
FY22
ARM β
FSLR β0.4%
FY23
ARM β
FSLR 18.8%
FY24
ARM β
FSLR 22.0%
FY25
ARM β
FSLR 22.7%
FY26
ARM β
FSLR β
ARM
FSLR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.