Stock JKS JINKOSOLAR HOLDING CO., LTD.
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Financials JinkoSolar Holding Co., Ltd.

Equities

JKS

US47759T1007

Renewable Energy Equipment & Services

Market Closed - Nyse
Other stock markets
 04:00:02 2024-05-28 pm EDT 		5-day change 1st Jan Change
28.43 USD +2.23% Intraday chart for JinkoSolar Holding Co., Ltd. +16.52% -23.04%
May. 24 Asian Equities Traded in the US as American Depositary Receipts Trend Higher in Friday Trading, End Week Lower MT
May. 22 Asian Equities Traded in the US as American Depositary Receipts Lower in Wednesday Trading MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 996.2 2,802 2,192 2,049 1,905 1,511 - -
Enterprise Value (EV) 1 3,000 5,739 6,643 7,379 6,971 4,176 5,071 5,904
P/E ratio 8.06 x 78.3 x 19.4 x 21.2 x 4.31 x 8.28 x 4.67 x 4.48 x
Yield - - - - - - 0.35% -
Capitalization / Revenue 0.23 x 0.52 x 0.34 x 0.17 x 0.11 x 0.09 x 0.08 x 0.07 x
EV / Revenue 0.7 x 1.07 x 1.04 x 0.61 x 0.42 x 0.25 x 0.26 x 0.26 x
EV / EBITDA 8.29 x 12.3 x 22.4 x 15.8 x 3.54 x 3.12 x 2.87 x 2.95 x
EV / FCF -9.39 x -10.5 x -5.35 x -2.83 x -34.5 x 19.4 x 11.6 x 2.89 x
FCF Yield -10.7% -9.52% -18.7% -35.4% -2.9% 5.15% 8.6% 34.6%
Price to Book 0.75 x 1.89 x 1.26 x 0.87 x 0.69 x 0.43 x 0.38 x 0.32 x
Nbr of stocks (in thousands) 44,296 45,294 47,692 50,124 51,572 53,155 - -
Reference price 2 22.49 61.87 45.96 40.88 36.94 28.43 28.43 28.43
Announcement Date 3/13/20 4/9/21 3/23/22 3/10/23 3/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,273 5,384 6,407 12,111 16,716 16,487 19,614 22,929
EBITDA 1 361.9 466.3 297.1 465.9 1,971 1,336 1,764 2,003
EBIT 1 248.4 273.6 173 66.84 858.1 215.2 657.7 732.7
Operating Margin 5.81% 5.08% 2.7% 0.55% 5.13% 1.31% 3.35% 3.2%
Earnings before Tax (EBT) 1 179.7 86.8 171 291.2 1,055 382.2 546.2 450.3
Net income 1 129.1 35.31 113.1 96.44 485.6 260.7 350 478.7
Net margin 3.02% 0.66% 1.77% 0.8% 2.9% 1.58% 1.78% 2.09%
EPS 2 2.790 0.7900 2.370 1.930 8.580 3.433 6.092 6.345
Free Cash Flow 1 -319.6 -546.4 -1,241 -2,611 -202 215 436 2,042
FCF margin -7.48% -10.15% -19.37% -21.56% -1.21% 1.3% 2.22% 8.91%
FCF Conversion (EBITDA) - - - - - 16.09% 24.71% 101.97%
FCF Conversion (Net income) - - - - - 82.48% 124.57% 426.59%
Dividend per Share 2 - - - - - - 0.1003 -
Announcement Date 3/13/20 4/9/21 3/23/22 3/10/23 3/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,572 2,329 2,813 2,744 4,408 3,397 4,232 4,363 4,624 3,192 3,913 4,690 5,088 4,111 4,959
EBITDA 1 148.3 69.01 41.35 66.51 - - - - - - 311.4 398.6 476.9 358.7 487
EBIT 1 76.24 6.429 -43.16 8.874 93.68 176.4 212.1 409.8 49.64 -47.04 14.77 105.2 162.6 59.21 232
Operating Margin 2.96% 0.28% -1.53% 0.32% 2.13% 5.19% 5.01% 9.39% 1.07% -1.47% 0.38% 2.24% 3.2% 1.44% 4.68%
Earnings before Tax (EBT) 1 70.18 26.64 -34.08 127.9 168 222.6 370.9 377 - 197.2 6.037 92.14 182.6 119 167.6
Net income 1 37.58 4.567 -93.05 77.29 102.9 114.8 180.1 181.4 4.13 84.4 13.89 53.04 88.52 47.46 104.4
Net margin 1.46% 0.2% -3.31% 2.82% 2.33% 3.38% 4.26% 4.16% 0.09% 2.64% 0.36% 1.13% 1.74% 1.15% 2.11%
EPS 2 0.7900 0.1000 -1.880 0.9000 0.8500 2.180 3.060 2.530 0.0800 0.7400 0.2481 0.9323 1.552 0.8298 1.840
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 3/23/22 4/28/22 8/26/22 10/28/22 3/10/23 4/28/23 8/14/23 10/30/23 3/20/24 4/29/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,003 2,936 4,451 5,330 5,066 2,665 3,560 4,393
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.536 x 6.296 x 14.98 x 11.44 x 2.57 x 1.994 x 2.018 x 2.194 x
Free Cash Flow 1 -320 -546 -1,241 -2,611 -202 215 436 2,042
ROE (net income / shareholders' equity) 10.5% 2.39% 6.85% 4.85% 18.9% 4.95% 9.14% 8.16%
ROA (Net income/ Total Assets) 2.15% 0.46% 1.14% 0.73% 2.82% 2% 2.8% 5%
Assets 1 6,012 7,675 9,903 13,171 17,218 13,033 12,500 9,574
Book Value Per Share 2 29.90 32.70 36.30 47.20 53.40 65.80 74.60 88.60
Cash Flow per Share 2 4.700 2.130 1.360 -17.00 36.80 16.50 4.510 25.30
Capex 1 519 638 1,306 1,772 2,110 1,627 1,474 994
Capex / Sales 12.14% 11.84% 20.38% 14.63% 12.63% 9.87% 7.52% 4.34%
Announcement Date 3/13/20 4/9/21 3/23/22 3/10/23 3/20/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for JinkoSolar Holding Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
28.43 USD
Average target price
37.51 USD
Spread / Average Target
+31.94%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Photovoltaic Solar Systems & Equipment

1st Jan change Capi.
JINKOSOLAR HOLDING CO., LTD. Stock JinkoSolar Holding Co., Ltd.
-23.04% 1.51B
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TONGWEI CO.,LTD Stock Tongwei Co.,Ltd
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JINKO SOLAR CO., LTD. Stock Jinko Solar Co., Ltd.
-13.32% 10.6B
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+23.07% 7.21B
JA SOLAR TECHNOLOGY CO., LTD. Stock JA Solar Technology Co., Ltd.
-28.57% 6.72B
Photovoltaic Solar Systems & Equipment
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