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MAXN
Maxeon Solar Technologies, Ltd. · Clean Energy
$0.35
+11.11% this month
VERSUS
⟷
COMPARE
FSLR
First Solar, Inc. · Clean Energy
$257.70
+16.23% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
MAXN
0
FSLR
2
Comparison scoreboard
FSLR LEADS 2/5AI Score
MAXN 20.5
FSLR ✓50.9
1Y Return
MAXN -88.60%
FSLR ✓+79.08%
Fwd P/E
MAXN N/A
FSLR 11.41
Target Up.
MAXN N/A
FSLR -8.06%
Op. Margin
MAXN N/A
FSLR 33.07%
Metrics last refreshed: 6/20/2026
Quick take
MAXN vs FSLR Stock Comparison: AI Score, Valuation, Performance and Upside
MAXN and FSLR are both solar panel manufacturers but at dramatically different financial health. First Solar is profitable, US-manufactured, IRA-advantaged with $4B+ revenue and utility-scale focus. Maxeon is a premium residential solar panel manufacturer facing severe financial distress competing against Chinese low-cost panels. For solar panel manufacturer investment, First Solar is the clear quality choice. Maxeon is a high-risk speculative play that may not survive its current financial challenges.
MAXN vs FSLR — Maxeon Solar (high-efficiency SunPower back-contact premium residential solar panels facing severe financial challenges from Chinese panel price competition) versus First Solar (the profitable US-manufactured IRA-advantaged CdTe thin-film utility-scale solar manufacturer with $4B+ revenue and production tax credit tailwinds).
Live analysis · updated 6/20/2026
FSLR holds the edge across 2 of 5 key metrics in this comparison. FSLR has delivered stronger 1-year price return (+79.08% vs -88.60% for MAXN).
Normalized 1Y performance
MAXN
FSLR
Recent returns
MAXN
FSLR
Analyst price targets & sentiment
MAXN
Price target data unavailable
N/A
FSLR
Price target range
analyst mean$245.77
current price$257.70
-8.1% upside to analyst mean
Who should consider this stock?
MAXN may suit investors who:
- →are speculative traders seeking high-risk turnaround potential if Maxeon successfully resolves its financial challenges and rebuilds US manufacturing to capture IRA incentives
- →believe premium efficiency residential solar maintains a durable pricing premium over commodity Chinese panels in the high-end US residential market
- →want exposure to the highest-efficiency solar technology with upside if Maxeon's financial situation stabilizes and the company executes on its US manufacturing strategy
- →are comfortable with meaningful financial distress risk, SunPower distribution channel uncertainties, and the possibility Maxeon faces additional restructuring or insolvency events
FSLR may suit investors who:
- →want the highest-quality US solar manufacturing investment with actual profitability, IRA production tax credit tailwinds, and $4B+ utility-scale revenue scale
- →value First Solar's IRA-advantaged US manufacturing positioning as a structural competitive advantage vs Chinese panel manufacturers facing potential tariff escalation
- →see utility-scale solar capacity expansion as a multi-decade secular growth theme where First Solar's domestic manufacturing positions it uniquely as the US solar industrial policy winner
- →are comfortable with CdTe's efficiency ceiling vs premium silicon, utility-scale customer concentration, and First Solar's dependence on IRA incentive continuation for its competitive economics
Performance & AI score
| Metric | MAXN | FSLR |
|---|---|---|
| AI score | 20.5 | 50.9 |
| AI rank | #5518 | #408 |
| Latest close | $0.35 | $257.70 |
| 1M return | +11.11% | +16.23% |
| 6M return | -90.11% | +1.44% |
| 1Y return | -88.60% | +79.08% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | MAXN | FSLR |
|---|---|---|
| 1Y ago | $1.14K (-88.6%) started 2025-06-12 | $17.94K (+79.4%) started 2025-06-18 |
| 5Y ago | $1.89 (-100.0%) started 2021-06-14 | $32.96K (+229.6%) started 2021-06-21 |
| 10Y ago | $0.93 (-100.0%) started 2020-08-26 | $52.25K (+422.5%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | MAXN | FSLR |
|---|---|---|
| Market cap | $12.86M | $28.72B |
| Trailing P/E | 0.02 | 17.27 |
| Forward P/E | N/A | 11.41 |
| Price/Sales | 0.07 | N/A |
| EV/Revenue | 1.83 | 4.96 |
| Analyst target | N/A | $245.77 |
| Target upside | N/A | -8.06% |
Growth, profitability & risk
| Metric | MAXN | FSLR |
|---|---|---|
| Revenue growth | -89.40% | 23.60% |
| Earnings growth | N/A | 65.10% |
| EPS growth | N/A | +65.10% |
| FCF margin | -98.06% | +21.18% |
| Operating margin | N/A | 33.07% |
| Profit margin | 0.00% | 30.73% |
| ROIC proxy | N/A | 18.44% |
| Return on equity | N/A | 18.44% |
| Dividend yield | N/A | N/A |
| Beta | 1.26 | 1.69 |
| Debt/equity | N/A | 5.94 |
| Current ratio | 0.84 | 2.56 |
| Quick ratio | 0.15 | 1.91 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
MAXN max drawdown94.83%
FSLR max drawdown35.10%
MAXN max wkly drop66.22%
FSLR max wkly drop21.67%
5Y risk snapshot
MAXN max drawdown99.99%
FSLR max drawdown59.97%
MAXN max wkly drop84.36%
FSLR max wkly drop21.67%
10Y risk snapshot
MAXN max drawdown100.00%
FSLR max drawdown61.26%
MAXN max wkly drop84.36%
FSLR max wkly drop25.40%
Performance metrics by period
| Period | Metric | MAXN | FSLR |
|---|---|---|---|
| 1Y | Growth | -88.60% | +79.37% |
| CAGR | -88.62% | +79.52% | |
| Sharpe ratio | -0.71 | 1.25 | |
| Max drawdown | 94.83% | 35.10% | |
| Max daily drop | 38.94% | 13.61% | |
| Max wkly drop | 66.22% | 21.67% | |
| 5Y | Growth | -99.98% | +229.58% |
| CAGR | -82.04% | +26.99% | |
| Sharpe ratio | -0.67 | 0.63 | |
| Max drawdown | 99.99% | 59.97% | |
| Max daily drop | 67.22% | 17.89% | |
| Max wkly drop | 84.36% | 21.67% | |
| 10Y | Growth | -99.99% | +422.51% |
| CAGR | -79.86% | +17.99% | |
| Sharpe ratio | -0.61 | 0.49 | |
| Max drawdown | 100.00% | 61.26% | |
| Max daily drop | 67.22% | 17.89% | |
| Max wkly drop | 84.36% | 25.40% |
Business comparison
| Category | MAXN | FSLR |
|---|---|---|
| Company | Maxeon Solar Technologies, Ltd. | First Solar, Inc. |
| Sector | Clean Energy | Technology |
| Industry | N/A | N/A |
| Core business | Maxeon Solar is a premium solar panel manufacturer specializing in high-efficiency SunPower back-contact solar cells and interdigitated back contact (IBC) technology. Maxeon's panels achieve among the highest efficiency rates in the residential and commercial solar markets. Maxeon was spun off from SunPower in 2020 and is headquartered in Singapore with manufacturing primarily in Malaysia and the Philippines. Maxeon sells under the SunPower brand in North America and the Maxeon brand internationally. The company has faced severe financial challenges including significant losses and balance sheet concerns. | First Solar is the largest US-domiciled solar panel manufacturer, producing cadmium telluride (CdTe) thin-film solar panels at utility scale. First Solar's differentiation is its domestic US manufacturing (Arizona factories), IRA-advantaged production tax credit eligibility, and CdTe panels' superior performance in high-temperature and diffuse light conditions vs crystalline silicon panels. First Solar has the most IRA-compliant US solar manufacturing capacity of any major solar company. Revenue is $4B+ with actual profitability — a rarity among solar manufacturers. |
| Investor focus | Investors focus on Maxeon's financial survival, high-efficiency panel premium pricing, and potential IRA manufacturing incentive monetization as it builds US manufacturing capabilities. | Investors focus on First Solar's US manufacturing capacity expansion, IRA production tax credit realization, utility-scale solar backlog, and whether CdTe technology's efficiency improvements keep pace with crystalline silicon alternatives. |
MAXN strengths
- →Highest efficiency solar panels: Maxeon's back-contact IBC technology achieves 22-24% efficiency rates — among the highest commercially available solar panels, enabling higher power density in constrained installation areas
- →Premium residential market positioning: premium residential solar customers prioritize space efficiency and aesthetics where Maxeon's higher-efficiency panels justify premium pricing vs commodity Chinese panels
- →US market partnership through SunPower brand: Maxeon's SunPower brand partnership provides established North American residential distribution through a known premium solar brand
FSLR strengths
- →US manufacturing IRA tax credit eligibility: First Solar's domestic manufacturing qualifies for IRA Section 45X production tax credits — potentially $0.17+/watt in production tax credits that dramatically improve First Solar's economics vs Chinese alternatives
- →Profitable at scale with $4B+ revenue: First Solar is profitable — a significant differentiator from money-losing solar panel manufacturers like Maxeon
- →CdTe thin film performance advantages: CdTe panels outperform crystalline silicon in high-heat environments and diffuse light — competitive performance advantage in sun-belt utility-scale deployments
Risks to watch — MAXN
- →Severe financial distress: Maxeon has significant operating losses, balance sheet concerns, and has struggled with competitive pressure from Chinese panel manufacturers flooding the market with low-cost alternatives
- →SunPower financial challenges: Maxeon's primary North American channel partner SunPower has faced its own financial difficulties, creating distribution channel uncertainty for Maxeon's US market strategy
- →Chinese panel price competition: cheap Chinese solar panels have driven panel prices to historic lows — Maxeon's premium efficiency positioning is challenged when low-cost panels make financial sense for most residential customers
Risks to watch — FSLR
- →CdTe efficiency lower than premium silicon: First Solar's CdTe technology tops out at approximately 19-20% efficiency vs 22-24% for premium silicon — efficiency disadvantage in space-constrained applications
- →Utility-scale customer concentration: First Solar sells primarily to utility-scale solar developers — customer concentration creates revenue lumpiness from large project signing and cancellation cycles
- →Chinese silicon panel pricing pressure: Chinese manufacturers produce crystalline silicon panels at costs that challenge First Solar's economics absent IRA incentives — IRA dependency creates policy risk
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