Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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First Solar Inc. pages available for free this week:
- Income Statement
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Total Asset Turnover since 2006
- Price to Earnings (P/E) since 2006
- Price to Sales (P/S) since 2006
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First Solar Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
The financial data reveals several notable patterns and shifts in key asset categories over the observed quarters.
- Cash and Cash Equivalents
- There is significant volatility in cash reserves, with peaks and troughs throughout the period. The highest value was seen at the end of December 2020, followed by a decline and subsequent fluctuations. Towards the last quarter, cash levels showed a marked decline from a peak at the end of 2023.
- Marketable Securities
- Marketable securities generally declined from early 2019 to mid-2022, reaching a low point, but rebounded somewhat thereafter. The variability suggests changes in short-term investment strategy or liquidity needs.
- Accounts Receivable, Trade, Net
- Receivables show a fluctuating trend with notable spikes around early and late 2021. This variability may reflect changes in sales cycles or credit policies. Recent quarters show elevated receivable balances with some fluctuations.
- Inventories
- Inventory levels generally increased over the period, with a few short-term dips. The consistent upward trend indicates either accumulation in anticipation of higher sales or slower turnover in product stock.
- Project Assets and Assets Held for Sale
- Project assets were minimal and irregular, with some quarters showing no recorded values. Assets held for sale emerged prominently only at the end of 2020, implying a discrete divestiture or reclassification event.
- Other Current Assets
- There is a declining trend in other current assets from 2019 to 2021, followed by a recovery. This pattern could be associated with changes in prepaid expenses or other short-term asset components.
- Current Assets
- Current assets showed fluctuation with an overall slight upward movement towards the last quarters, indicating maintained or improved liquidity though with some variability.
- Property, Plant, and Equipment, Net
- There is a steady and significant increase in property, plant, and equipment net values, reflecting ongoing capital expenditures or asset acquisitions over time. This upward trend suggests expansion or modernization of operational capacity.
- Deferred Tax Assets, Net
- Deferred tax assets increased substantially from 2019 through 2024, likely indicating growth in deductible temporary differences or loss carryforwards available to offset future taxable income.
- Restricted Marketable Securities
- Values in restricted marketable securities generally declined from 2019 into 2022 with some fluctuations, implying possible usage of these funds or reclassification.
- Government Grants Receivable and Related Items
- Government grants receivable presented data only in later quarters, with large values recorded beginning in 2023. This could indicate recognition of substantial government aid or funding in recent periods.
- Goodwill and Intangible Assets, Net
- Goodwill values remained mostly constant but experienced a notable increase around mid-2023, suggesting an acquisition. Intangible assets consistently decreased over time, indicating amortization or impairment.
- Other Assets
- Other assets showed variability, with a gradual increase overall. A notable drop in 2022 was followed by recovery, possibly due to asset impairments or disposals and subsequent acquisitions.
- Noncurrent Assets
- The total noncurrent assets increased steadily over time, signifying growth in long-term investments, fixed assets, and other material assets, consistent with capital expansion and developmental activities.
- Total Assets
- Total assets remained relatively stable from 2019 through 2022, followed by a steady and robust increase through 2024, highlighting overall growth and enhanced asset base.