Analysis of Property, Plant and Equipment
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First Solar Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2006
- Price to Operating Profit (P/OP) since 2006
- Analysis of Revenues
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Property, Plant and Equipment Disclosure
First Solar Inc., balance sheet: property, plant and equipment
US$ in thousands
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Item | Description | The company |
|---|---|---|
| Property, plant and equipment, gross | Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. | First Solar Inc. property, plant and equipment, gross increased from 2021 to 2022 and from 2022 to 2023. |
| Property, plant and equipment, net | Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. | First Solar Inc. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023. |
Asset Age Ratios (Summary)
First Solar Inc., asset age ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Asset age ratio | Description | The company |
|---|---|---|
| Average age ratio | As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. | First Solar Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023. |
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. | First Solar Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | First Solar Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Estimated remaining life | First Solar Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Average Age
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land)
= 100 × ÷ ( – ) =
| Asset age ratio | Description | The company |
|---|---|---|
| Average age | As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. | First Solar Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023. |
Estimated Total Useful Life
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Estimated total useful life = (Property, plant and equipment, gross – Land) ÷ Depreciation of property, plant and equipment
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. | First Solar Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Estimated Age, Time Elapsed since Purchase
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation of property, plant and equipment
= ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | First Solar Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Estimated Remaining Life
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Estimated remaining life = (Property, plant and equipment, net – Land) ÷ Depreciation of property, plant and equipment
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | First Solar Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |