Analysis of Geographic Areas
First Solar Inc. operates in 2 regions: United States and All other foreign countries.
Area Asset Turnover
First Solar Inc., asset turnover by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 1.17 | 1.17 | 2.21 | 1.77 | 2.47 |
| All other foreign countries | 0.07 | 0.24 | 0.20 | 0.39 | 0.20 |
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).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | United States | United States area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| All other foreign countries | All other foreign countries area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Asset Turnover: United States
First Solar Inc.; United States; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 3,187,603) | 2,193,619) | 2,456,597) | 1,843,433) | 2,659,940) |
| Long-lived assets | 2,734,952) | 1,876,218) | 1,112,369) | 1,043,954) | 1,077,593) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.17 | 1.17 | 2.21 | 1.77 | 2.47 |
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).
1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 3,187,603 ÷ 2,734,952 = 1.17
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | United States | United States area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: All other foreign countries
First Solar Inc.; All other foreign countries; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 130,999) | 425,700) | 466,780) | 867,899) | 403,177) |
| Long-lived assets | 1,792,231) | 1,790,219) | 2,277,543) | 2,201,768) | 2,063,364) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.07 | 0.24 | 0.20 | 0.39 | 0.20 |
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).
1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 130,999 ÷ 1,792,231 = 0.07
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | All other foreign countries | All other foreign countries area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net sales
First Solar Inc., net sales by geographic area
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 3,187,603) | 2,193,619) | 2,456,597) | 1,843,433) | 2,659,940) |
| All other foreign countries | 130,999) | 425,700) | 466,780) | 867,899) | 403,177) |
| Total | 3,318,602) | 2,619,319) | 2,923,377) | 2,711,332) | 3,063,117) |
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).
Long-lived assets
First Solar Inc., long-lived assets by geographic area
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 2,734,952) | 1,876,218) | 1,112,369) | 1,043,954) | 1,077,593) |
| All other foreign countries | 1,792,231) | 1,790,219) | 2,277,543) | 2,201,768) | 2,063,364) |
| Total | 4,527,183) | 3,666,437) | 3,389,912) | 3,245,722) | 3,140,957) |
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).