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STOCK COMPARISON

JA Solar Technology Co vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how JA Solar Technology Co (002459) and First Solar (FSLR) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: JA Solar Technology Co trades at ¥6.73 versus a fair value of ¥3.32 (-51%), while First Solar trades at $207 versus $392 (+89%).
JA Solar Technology Co
002459.SHE · CNY · Industrials
-51%
upside to fair value
overvalued
Price¥6.73
Fair Value¥3.32
Quality29/100
First Solar
FSLR · USD · Information Technology
+89%
upside to fair value
undervalued
Price$207
Fair Value$392
Quality65/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

JA Solar Technology CoFirst Solar
Valuation
P/E (TTM)14.7×
0.09×P/S (TTM)4.52×
0.19×P/B2.57×
3.8×EV/EBITDA9.7×
1.29×PEG0.60×
−50.7%Fair value upside+89.0%
2.4%Dividend yield
Profitability
-9%Operating margin33%
EBIT margin trend (5Y)2.76×
-17%Return on equity18%
-2%Return on assets8%
Growth
-14%Revenue growth (YoY)24%
-12.4%Avg. growth/yr (3Y)25.8%
13.7%Avg. growth/yr (5Y)14.0%
Value creation/yr+38.9%
Balance & size
Interest coverage (EBIT/interest)38.1×
1.18×Debt / equity0.03×
$4BMarket cap$24B
weakGrowth qualityhealthy
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

First Solar leads: 0 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

JA Solar Technology Coof which business quality 29 · market factors 21 First Solarof which business quality 66 · market factors 27
ProfitabilityMargins and returns on capital today
6
56
Quality GrowthAre margins and returns improving?
10
54
CashflowEarnings quality: real cash, not paper profit
17
72
Fin. StrengthBalance sheet, leverage, solvency risk
30
94
InvestmentDisciplined investing over empire-building
63
14
Low VolatilityCalm price path (market factor)
64
11
MomentumPrice trend over the last 3–12 months (market factor)
6
35
52W MomentumDistance to the 52-week high (market factor)
0
32
Net IssuanceBuybacks instead of dilution
75
80

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyJA Solar Technology CoPrice ¥6.73First SolarPrice $207
DCF Modelsn/a+123%above the price$463
Earnings-Basedn/a+50%above the price$310
Dividend Discount-46%below the price¥3.65n/a
Multiples-10%close to the price¥6.06+53%above the price$318
Asset-Based-33%below the price¥4.52-71%below the price$59.47
Growth DCFn/a+68%above the price$348
Economic Profitn/a-3%close to the price$202
Growth Earningsn/a+127%above the price$471
Minimum-46%below the price¥3.65-71%below the price$59.47
Maximum-10%close to the price¥6.06+127%above the price$471
Median-33%below the price¥4.52+53%above the price$318
Geometric mean-31%below the price¥4.64+27%above the price$264

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

JA Solar Technology Co: 4 of 4 models see the stock below the current price.

First Solar: 3 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

JA Solar Technology Co
Bear ¥1.72Fair Value ¥3.32Bull ¥4.92
¥6.73 = current price (white tick)
First Solar
Bear $224Fair Value $392Bull $485
$207 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

JA Solar Technology Co · Industrials

Quality score29 · bottom 25%
Fair value upside-51% · below median

First Solar · Information Technology

Quality score65 · Top 25%
Fair value upside+89% · Top 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees First Solar as the more attractively valued of the two: JA Solar Technology Co trades at ¥6.73 versus a fair value of ¥3.32 (-51%), while First Solar trades at $207 versus $392 (+89%).

First Solar has the higher quality score (65/100).

See the full analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.