HE vs NEE vs FSLR vs ENPH

For growth investors, First Solar, Inc.

(FSLR) is the stronger pick with 24. 1% revenue growth year-over-year, versus -2. 1% for Hawaiian Electric Industries, Inc. (HE). First Solar, Inc. (FSLR) offers the better valuation at 15. 1x trailing P/E (12. 0x forward), making it the more compelling value choice. Analysts rate NextEra Energy, Inc. (NEE) a "Buy" — based on 36 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, First Solar, Inc.

(FSLR) is the cheapest at 15. 1x versus NextEra Energy, Inc. at 28. 4x. On forward P/E, First Solar, Inc. is actually cheaper at 12. 0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: First Solar, Inc. wins at 0. 39x versus Enphase Energy, Inc. 's 2. 79x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, First Solar, Inc.

(FSLR) delivered a total return of +187. 6%, compared to -71. 2% for Enphase Energy, Inc. (ENPH). Over 10 years, the gap is even starker: ENPH returned +1738% versus HE's -25. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), NextEra Energy, Inc.

(NEE) is the lower-risk stock at 0. 21β versus Enphase Energy, Inc. 's 1. 70β — meaning ENPH is approximately 719% more volatile than NEE relative to the S&P 500. On balance sheet safety, First Solar, Inc. (FSLR) carries a lower debt/equity ratio of 5% versus 2% for Hawaiian Electric Industries, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), First Solar, Inc.

(FSLR) is pulling ahead at 24. 1% versus -2. 1% for Hawaiian Electric Industries, Inc. (HE). On earnings-per-share growth, the picture is similar: Enphase Energy, Inc. grew EPS 72. 0% year-over-year, compared to -720. 4% for Hawaiian Electric Industries, Inc.. Over a 3-year CAGR, FSLR leads at 25. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

First Solar, Inc.

(FSLR) is the more profitable company, earning 29. 3% net margin versus -44. 2% for Hawaiian Electric Industries, Inc. — meaning it keeps 29. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FSLR leads at 32. 3% versus -53. 0% for HE. At the gross margin level — before operating expenses — NEE leads at 62. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, First Solar, Inc. (FSLR) is the more undervalued stock at a PEG of 0. 39x versus Enphase Energy, Inc. 's 2. 79x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, First Solar, Inc. (FSLR) trades at 12. 0x forward P/E versus 23. 1x for NextEra Energy, Inc. — 11. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FSLR: 23. 1% to $264. 13.

In this comparison, NEE (2.

4% yield), HE (1. 3% yield) pay a dividend. FSLR, ENPH do not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, NextEra Energy, Inc.

(NEE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 21), 2. 4% yield, +266. 0% 10Y return). Both have compounded well over 10 years (NEE: +266. 0%, FSLR: +324. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

These companies operate in different sectors (HE (Utilities) and NEE (Utilities) and FSLR (Energy) and ENPH (Energy)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: HE is a small-cap quality compounder stock; NEE is a mid-cap quality compounder stock; FSLR is a mid-cap high-growth stock; ENPH is a small-cap quality compounder stock. HE, NEE pay a dividend while FSLR, ENPH do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.