AESI vs. FSLR

Last updated Jun 4, 2026

AESI (Atlas Energy Solutions Inc) and FSLR (First Solar, Inc.) are both stocks. AESI operates in Oil & Gas Equipment & Services (Energy), while FSLR operates in Solar (Technology). Over the past 3 years, AESI returned 5.74%/yr vs 15.46%/yr for FSLR. At a 0.16 correlation, their price movements are largely independent.

Performance

AESI vs. FSLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas Energy Solutions Inc (AESI) and First Solar, Inc. (FSLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AESI achieves a 90.13% return, which is significantly higher than FSLR's 21.83% return.

AESI

• 1D: -0.72%
• 1M: 0.90%
• YTD: 90.13%
• 6M: 84.64%
• 1Y: 41.12%
• 3Y*: 5.74%
• 5Y*: —
• 10Y*: —

FSLR

• 1D: 2.33%
• 1M: 50.55%
• YTD: 21.83%
• 6M: 24.29%
• 1Y: 99.69%
• 3Y*: 15.46%
• 5Y*: 33.22%
• 10Y*: 20.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AESI vs. FSLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AESI Atlas Energy Solutions Inc	90.13%	-55.28%	34.96%	5.56%
FSLR First Solar, Inc.	21.83%	48.22%	2.30%	-18.45%

Correlation

The correlation between AESI and FSLR is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.16

Fundamentals

Market Cap AESI : $2.23B FSLR : $34.25B
EPS AESI : -$0.80 FSLR : $15.48
PS Ratio AESI : 2.09 FSLR : 6.32
PB Ratio AESI : 1.91 FSLR : 3.47
Total Revenue (TTM) AESI : $1.06B FSLR : $5.42B
Gross Profit (TTM) AESI : $87.21M FSLR : $2.26B
EBITDA (TTM) AESI : $87.71M FSLR : $2.15B

Return for Risk

AESI vs. FSLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AESI

AESI Risk / Return Rank: 61
AESI Sharpe Ratio Rank: 64
AESI Sortino Ratio Rank: 60
AESI Omega Ratio Rank: 60
AESI Calmar Ratio Rank: 60
AESI Martin Ratio Rank: 59

FSLR

FSLR Risk / Return Rank: 81
FSLR Sharpe Ratio Rank: 85
FSLR Sortino Ratio Rank: 80
FSLR Omega Ratio Rank: 81
FSLR Calmar Ratio Rank: 81
FSLR Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AESI vs. FSLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas Energy Solutions Inc (AESI) and First Solar, Inc. (FSLR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AESI	FSLR	Difference
Sharpe ratio Return per unit of total volatility	0.70	1.79	-1.08
Sortino ratio Return per unit of downside risk	1.29	2.31	-1.02
Omega ratio Gain probability vs. loss probability	1.16	1.32	-0.16
Calmar ratio Return relative to maximum drawdown	0.95	2.86	-1.91
Martin ratio Return relative to average drawdown	1.98	6.08	-4.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AESI vs. FSLR - Sharpe Ratio Comparison

The current AESI Sharpe Ratio is 0.70, which is lower than the FSLR Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of AESI and FSLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AESI	FSLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	1.79	-1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.23	-0.11

Drawdowns

AESI vs. FSLR - Drawdown Comparison

The maximum AESI drawdown since its inception was -65.91%, smaller than the maximum FSLR drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for AESI and FSLR.

Drawdown Indicators

	AESI	FSLR	Difference
Max Drawdown Largest peak-to-trough decline	-65.91%	-96.22%	+30.31%
Max Drawdown (1Y) Largest decline over 1 year	-43.54%	-35.10%	-8.44%
Max Drawdown (3Y) Largest decline over 3 years	-65.91%	-59.97%	-5.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-59.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.26%	—
Current Drawdown Current decline from peak	-24.63%	0.00%	-24.63%
Average Drawdown Average peak-to-trough decline	-25.28%	-63.28%	+38.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.81%	16.45%	+4.36%

Volatility

AESI vs. FSLR - Volatility Comparison

Atlas Energy Solutions Inc (AESI) and First Solar, Inc. (FSLR) have volatilities of 16.46% and 16.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AESI	FSLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.46%	16.10%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	40.31%	38.80%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	59.02%	56.48%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.35%	53.65%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.35%	50.61%	-2.26%

Dividends

AESI vs. FSLR - Dividend Comparison

AESI's dividend yield for the trailing twelve months is around 1.40%, while FSLR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AESI Atlas Energy Solutions Inc	1.40%	7.96%	4.33%	4.07%
FSLR First Solar, Inc.	0.00%	0.00%	0.00%	0.00%

Financials

AESI vs. FSLR - Profitability Comparison

The chart below illustrates the profitability comparison between Atlas Energy Solutions Inc and First Solar, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AESI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Atlas Energy Solutions Inc reported a gross profit of 6.33M and revenue of 265.58M. Therefore, the gross margin over that period was 2.4%.

FSLR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported a gross profit of 486.13M and revenue of 1.04B. Therefore, the gross margin over that period was 46.6%.

AESI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Atlas Energy Solutions Inc reported an operating income of -32.48M and revenue of 265.58M, resulting in an operating margin of -12.2%.

FSLR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported an operating income of 345.30M and revenue of 1.04B, resulting in an operating margin of 33.1%.

AESI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Atlas Energy Solutions Inc reported a net income of -47.26M and revenue of 265.58M, resulting in a net margin of -17.8%.

FSLR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported a net income of 346.62M and revenue of 1.04B, resulting in a net margin of 33.2%.

Frequently Asked Questions

Can I hold both AESI and FSLR in my portfolio?

AESI and FSLR have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AESI or FSLR?

AESI has higher volatility (16.46%) compared to FSLR (16.10%). In terms of maximum drawdown, AESI dropped -65.91% vs FSLR's -96.22%.

Which has better risk-adjusted returns?

FSLR currently has the higher Sharpe Ratio (1.79 vs 0.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.