# Foresight Solar Fund Limited (FSFL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Energy. Price 70p, market value 379 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Foresight Solar Fund Limited reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 9.5×**. Each dollar of revenue is priced at 9.5×.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: 15.1%** (5-yr avg 0.1%). Free cash flow equals 15.1% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.

## Profitability
- **Gross margin: 87.4%**. Foresight Solar Fund Limited keeps 87.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -73.6%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -112.4%**. The company reported a net loss over the last twelve months.
- **Return on equity: -5.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -5.4%**. Return on all capital, debt included, is -5.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -5.4%**. Each dollar of assets produces -5.4% of profit.

## Growth
- **Revenue growth (1 yr): 159.5%** (3-yr -7.2%/yr, 5-yr -6.1%/yr). Revenue grew 159.5% over the last year, against -6.1% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -1221.2%**. Earnings per share fell 1221.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -21.0%/yr**. Free cash flow has compounded at -21.0% a year over three years.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.1×**. It would take 0.1 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 6.91** (quick 6.91). Current assets cover the next year's liabilities 6.91 times.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 11.60%** (0p per share, trailing). Foresight Solar Fund Limited yields 11.60%, high enough to check carefully: yields this high often precede a cut.
- **Consecutive years of increases: 8**. 8 straight years of increases.
- **Dividend growth (5 yr): 3.3%/yr** (1-yr 3.5%). The dividend has grown 3.3% a year over five years.
- **Shareholder yield: 20.3%**. Dividends plus net buybacks return 20.3% of the market value a year.

## Price and momentum
- **Total return (1 yr): -12.0%** (YTD 11.1%, 3-mo 1.6%). The shares are down 12.0% over twelve months including dividends.
- **From 52-week high: -15.5%** (16.7% above the low). Trading 15% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.38** (volatility 25%). Beta of 0.38 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FSFL.L · Page: https://foliofundamentals.com/stocks/fsfl.l

Not investment advice.