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JinkoSolar (JKS)
NYSE:JKS
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JinkoSolar
(NYSE:JKS)69Neutral
Positive Factors
Negative Factors
Earnings Performance
JinkoSolar's earnings are projected to turn negative, with a significant revenue and earnings miss expected in upcoming quarters.
Market Presence
JinkoSolar's U.S. shipment mix is expected to decline significantly, affecting its profitability as the U.S. is considered its only profitable market.
Tariffs
JinkoSolar is facing potential tariffs as high as 200% on solar panel imports to the U.S., which could significantly impact its operations.
JinkoSolar (JKS) vs. S&P 500 (SPY)
Market Cap
$1.16B
Dividend Yield13.15%
Average Volume (3M)643.90K
Price to Earnings (P/E)15.6
Beta (1Y)1.63
Revenue Growth-11.91%
EPS Growth-87.40%
CountryUS
Employees57,397
SectorTechnology
Sector Strength48
IndustryRenewable Energy Producers
Share Statistics
EPS (TTM)1.44
Shares Outstanding53,154,530
10 Day Avg. Volume713,820
30 Day Avg. Volume643,898
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.08
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.48Price Target Upside-31.69% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
JinkoSolar Business Overview & Revenue Model
Company DescriptionJinkoSolar Holding Co., Ltd. is a leading global manufacturer and distributor of solar energy products. The company is primarily engaged in the development, production, and sale of solar modules, as well as the provision of solar energy solutions. JinkoSolar operates in the renewable energy sector, serving a wide range of customers including utility companies, commercial and industrial entities, and residential consumers worldwide. With a strong focus on sustainable energy, JinkoSolar is recognized for its high-efficiency solar modules and advanced manufacturing capabilities.
How the Company Makes MoneyJinkoSolar makes money primarily through the sale of its solar modules, which are its main product offering. The company generates revenue by manufacturing and distributing these modules to various customer segments, including utility-scale projects, commercial and industrial customers, and residential users. In addition to module sales, JinkoSolar may also earn revenue from providing solar energy solutions and services, such as engineering, procurement, and construction (EPC) services. Significant partnerships and contracts with large-scale utility projects and government initiatives to promote renewable energy can contribute to its earnings. The company's extensive global distribution network and its investment in research and development to enhance product efficiency and reduce costs are critical factors supporting its revenue generation.
JinkoSolar Financial Statement Overview
Summary
JinkoSolar demonstrates strong growth and profitability potential in the renewable energy sector. While revenue and profit margins are improving, the company faces challenges in managing its debt levels and generating positive free cash flow. Overall, the financial health is solid but requires careful management of leverage and cash flow to ensure sustained growth.Income Statement
JinkoSolar has shown strong revenue growth over the years, with a significant increase from 2022 to 2023. The gross profit margin has also improved, indicating better cost management. The net profit margin has increased, suggesting enhanced profitability. However, the EBIT and EBITDA margins, while positive, indicate room for operational efficiency improvements.85
Very Positive
Balance Sheet
The company's balance sheet reflects a relatively high debt-to-equity ratio, which could pose a risk if not managed carefully. However, the return on equity is strong, indicating efficient use of equity capital. The equity ratio suggests a moderate level of debt financing, which is typical for the industry.75
Positive
Cash Flow
The operating cash flow has turned positive, a significant improvement from previous years, indicating better cash management. However, the free cash flow remains negative, largely due to high capital expenditures, which could be a concern if it persists. The operating cash flow to net income ratio is healthy, indicating good cash conversion from earnings.65
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 111.76B | 118.68B | 83.13B | 40.83B | 35.13B | 29.75B | Gross Profit |
| 15.64B | 19.05B | 12.28B | 6.66B | 6.17B | 5.43B | EBIT |
| 1.89B | 6.09B | 802.98M | 1.38B | 1.90B | 1.80B | EBITDA |
| 9.32B | 16.85B | 3.43B | 3.04B | 3.14B | 2.63B | Net Income Common Stockholders |
| 1.86B | 3.45B | 620.51M | 721.02M | 230.38M | 898.66M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 17.08B | 17.08B | 10.35B | 8.47B | 8.05B | 5.65B | Total Assets |
| 135.83B | 135.83B | 108.66B | 72.98B | 53.23B | 47.84B | Total Debt |
| 56.79B | 56.79B | 47.78B | 37.29B | 27.62B | 20.01B | Net Debt |
| 40.73B | 40.73B | 37.54B | 28.96B | 20.14B | 14.36B | Total Liabilities |
| 102.30B | 102.30B | 81.66B | 58.70B | 40.24B | 35.40B | Stockholders Equity |
| 20.16B | 20.16B | 16.34B | 11.05B | 9.99B | 9.30B |
| Cash Flow | Free Cash Flow | ||||
| 0.00 | -2.02B | -18.05B | -8.22B | -3.54B | -2.26B | Operating Cash Flow |
| 0.00 | 13.83B | -5.80B | 430.65M | 591.49M | 1.41B | Investing Cash Flow |
| 0.00 | -15.16B | -12.27B | -11.31B | -4.92B | -6.03B | Financing Cash Flow |
| 0.00 | 8.64B | 20.02B | 12.02B | 6.30B | 7.38B |
JinkoSolar Technical Analysis
Positive
22.66
Price Trends
22.85
Negative
23.40
Negative
22.23
Positive
Market Momentum
0.08
Negative
51.00
Neutral
51.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JKS, the sentiment is Positive. The current price of 22.66 is above the 20-day moving average (MA) of 22.45, below the 50-day MA of 22.85, and above the 200-day MA of 22.23, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 51.00 is Neutral, neither overbought nor oversold. The STOCH value of 51.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JKS.
JinkoSolar Risk Analysis
JinkoSolar disclosed 85 risk factors in its most recent earnings report. JinkoSolar reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JinkoSolar Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $14.01B | 10.91 | 17.62% | ― | 26.75% | 55.24% | |
69 Neutral | $1.16B | 15.61 | 2.78% | 13.15% | -11.91% | -87.40% | |
68 Neutral | $7.78B | 83.49 | 11.30% | ― | -41.92% | -76.24% | |
59 Neutral | $22.39B | 11.53 | -18.05% | 2.31% | 5.00% | -25.89% | |
53 Neutral | $664.40M | 747.45 | 0.03% | ― | -21.68% | -99.75% | |
47 Neutral | $941.70M | ― | -116.01% | ― | -68.86% | -4917.87% | |
46 Neutral | $1.56B | ― | -73.12% | ― | -9.83% | -71.44% |
* Technology Sector Average
Performance Comparison
JKS
JinkoSolar
22.66
-4.36
-16.14%
CSIQ
Canadian Solar
10.24
-10.35
-50.27%
ENPH
Enphase Energy
61.63
-67.06
-52.11%
FSLR
First Solar
139.13
-23.03
-14.20%
SEDG
SolarEdge Technologies
16.85
-57.64
-77.38%
RUN
Sunrun
7.16
-4.86
-40.43%
JinkoSolar Earnings Call Summary
Earnings Call Date: Mar 7, 2025 | % Change Since: 0.71% | Next Earnings Date: Apr 25, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted technological advancements and improved financial metrics such as gross margin and net income. However, significant challenges remain, including a year-over-year revenue decline, increased operating expenses, and a rise in debt. The sentiment is mixed, with both positive developments and ongoing industry pressures.Highlights
Increased Gross Margin and Net Income
Gross margin was 15.7%, and net income was USD 3.2 million, showing a significant sequential improvement.
Technological Advancements
Mass-produced efficiency for N-type TOPCon cells improved to approximately 26.2%. The company also launched the next-generation TOPCon technology solar panel named Tiger Neo 3.0.
Strong Module Shipments and Market Position
Total shipments were 25.9 gigawatts in the third quarter, with module shipments accounting for 92%. JinkoSolar maintained its leading global position in module shipments.
Participation in Climate Initiatives
JinkoSolar participated in the 2024 New York Climate Week and launched the English version of its first climate white paper.
Recognition and Awards
The company topped the PV Tech 2024 Q3 Module Tech Bankability Report with a AAA rating and was recognized as a Tier 1 manufacturer by Bloomberg for its performance in the Energy Storage sector.
Lowlights
Revenue Decline
Total revenue was about $3.5 billion, down 23% year-over-year, mainly due to a decrease in the average selling price of solar modules.
Pressure on Profitability
The imbalance between supply and demand led to continuous price declines in the end market, causing loss to almost the whole industrial chain.
Increased Operating Expenses
Total operating expenses were $539 million, up 20% year-over-year, mainly due to increased shipping costs and impairment of long-lived assets.
Debt Increase
Total debt was $5.23 billion compared to $3.86 billion in the second quarter, with net debt increasing to $2.05 billion from $1.95 billion.
Company Guidance
In the third quarter of 2024, JinkoSolar provided guidance on several financial and operational metrics during their earnings call. They reported total revenue of approximately $3.5 billion, reflecting a 2% sequential increase but a 23% year-over-year decrease, primarily attributed to fluctuating average selling prices (ASP) of solar modules. Gross margin improved to 15.7%, up from 11.1% in the previous quarter, while net income attributed to ordinary shareholders was $3.2 million, with an adjusted figure of $14.8 million after accounting for various financial impacts. Total shipments for the quarter were 25.9 gigawatts, with 60% directed overseas and a significant portion, about 15% to 18%, shipped to the U.S. market. The company also projected module shipments for the full year to range between 90 to 100 gigawatts, and between 22.3 to 32.3 gigawatts for the fourth quarter. Additionally, JinkoSolar’s cash and cash equivalents stood at about $3.2 billion, with total debt amounting to $5.23 billion.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.