First Solar's Solid Financial Performance and Strong Momentum Make it a Good Business

First Solar's stock price has fallen 13.1% over the past six months, but the company's revenue has grown at a 14% CAGR over the last five years, beating the average industrials company. Its free cash flow margin has expanded by 33.1 percentage points over the same period, and its return on invested capital has increased significantly. Despite the recent drawdown, the stock trades at 11x forward P/E, making it a good time to consider initiating a position.