ARM Holdings vs First Solar
ARM Holdings and First Solar are similar in size: $4.92bn and $5.22bn of revenue in their latest fiscal years. First Solar grew faster (24.1% against 22.8%). First Solar kept more of each dollar of sales as profit: a net margin of 29.3% against 18.4%. ARM Holdings carries less debt relative to equity (0.0% against 5.2%).
| Latest fiscal year | ARM HoldingsARM, 2026 | First SolarFSLR, 2025 |
|---|---|---|
| Revenue | $4.92bn | $5.22bn |
| Revenue growth | 22.8% | 24.1% |
| Net income | $904m | $1.53bn |
| Operating margin | 18.3% | 30.6% |
| Net margin | 18.4% | 29.3% |
| Return on equity | 12.0% | 17.4% |
| Free cash flow | $979m | $1.19bn |
| Cash | $2.75bn | $2.80bn |
| Total debt | $0 | $499m |
| Debt to equity | 0.0% | 5.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 7,900 |
| Market value | $215.69bn | $20.14bn |
| Price vs our value range | — | Above our value range |
| Moat score | — | 34 (Weak) |
| Insider trades, 12 months | 0 buys, 41 sales | 0 buys, 164 sales |