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STOCK COMPARISON

United Renewable Energy Co vs First Solar: Fair Value & Quality

Both stocks run through our valuation models. Here is how United Renewable Energy Co (3576) 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: United Renewable Energy Co trades at TWD 17.15 versus a fair value of TWD 4.25 (-75%), while First Solar trades at $207 versus $392 (+89%).
United Renewable Energy Co
3576.TW · TWD · Information Technology
-75%
upside to fair value
overvalued
PriceTWD 17.15
Fair ValueTWD 4.25
Quality35/100
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).

United Renewable Energy CoFirst Solar
Valuation
—P/E (TTM)14.7×
0.38×P/S (TTM)4.52×
0.09×P/B2.57×
—EV/EBITDA9.7×
—PEG0.60×
−75.2%Fair value upside+89.0%
0.5%Dividend yield—
Profitability
-87%Operating margin33%
—EBIT margin trend (5Y)2.76×
6%Return on equity18%
-4%Return on assets8%
Growth
-47%Revenue growth (YoY)24%
-45.5%Avg. growth/yr (3Y)25.8%
-24.6%Avg. growth/yr (5Y)14.0%
—Value creation/yr+38.9%
Balance & size
—Interest coverage (EBIT/interest)38.1×
0.22×Debt / equity0.03×
$979MMarket cap$24B
weakGrowth qualityhealthy

First Solar leads: 2 to 7 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.

United Renewable Energy Coof which business quality 33 · market factors 54 First Solarof which business quality 66 · market factors 27
ProfitabilityMargins and returns on capital today
0
56
Quality GrowthAre margins and returns improving?
17
54
CashflowEarnings quality: real cash, not paper profit
3
72
Fin. StrengthBalance sheet, leverage, solvency risk
47
94
InvestmentDisciplined investing over empire-building
67
14
Low VolatilityCalm price path (market factor)
45
11
MomentumPrice trend over the last 3–12 months (market factor)
47
35
52W MomentumDistance to the 52-week high (market factor)
75
32
Net IssuanceBuybacks instead of dilution
92
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 familyUnited Renewable Energy CoPrice TWD 17.15First SolarPrice $207
DCF Modelsn/a+123%above the price$463
Earnings-Basedn/a+50%above the price$310
Dividend Discount-94%below the priceTWD 1.08n/a
Multiplesn/a+53%above the price$318
Asset-Based-75%below the priceTWD 4.28-71%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-94%below the priceTWD 1.08-71%below the price$59.47
Maximum-75%below the priceTWD 4.28+127%above the price$471
Median-84%below the priceTWD 2.68+53%above the price$318
Geometric mean-87%below the priceTWD 2.14+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%.

United Renewable Energy Co: 3 of 3 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.

United Renewable Energy Co
Bear TWD 3.17Fair Value TWD 4.25Bull TWD 6.35
TWD 17.15 = 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.

United Renewable Energy Co · Information Technology

Quality score35 · bottom 25%
Fair value upside-75% · bottom 25%

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: United Renewable Energy Co trades at TWD 17.15 versus a fair value of TWD 4.25 (-75%), while First Solar trades at $207 versus $392 (+89%).

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

See the full analysis →
United Renewable Energy Co · First Solar

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