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Jinkosolar (JKS)
:JKS
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JinkoSolar
(NYSE:JKS)
Rating:60Neutral
Price Target:
$24.50
▲(4.52%Upside)
Positive Factors
Negative Factors
Financial Stability
JinkoSolar is facing a substantial cash liability due to retroactive tariffs on its Southeast Asian imports, impacting its financial stability.
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
Potential universal tariffs on solar panel imports could significantly impact JinkoSolar's operations and profitability.
JinkoSolar (JKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.16B
Dividend Yield11.77%
Average Volume (3M)811.25K
Price to Earnings (P/E)118.1
Beta (1Y)1.33
Revenue Growth-30.26%
EPS Growth-156.69%
CountryUS
Employees33,830
SectorTechnology
Sector Strength93
IndustrySolar
Share Statistics
EPS (TTM)-3.57
Shares Outstanding51,652,440
10 Day Avg. Volume819,930
30 Day Avg. Volume811,251
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.12
Price to Sales (P/S)0.00
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
$17.00Price Target Upside-27.47% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
JinkoSolar Business Overview & Revenue Model
Company DescriptionJinkoSolar (JKS) is a leading global solar module manufacturer and energy solutions provider. Established in 2006, the company operates primarily in the renewable energy sector, focusing on the development, production, and distribution of high-quality photovoltaic (PV) products. JinkoSolar offers a diverse range of solar modules, including monocrystalline and bifacial modules, and provides comprehensive solar solutions for residential, commercial, and utility-scale projects worldwide.
How the Company Makes MoneyJinkoSolar generates revenue through the sale of its solar modules and related energy solutions. The company's primary revenue stream is derived from the manufacturing and distribution of PV modules, which are sold to a wide array of customers, including solar project developers, wholesalers, and utility companies. JinkoSolar also engages in long-term supply agreements and partnerships with key players in the solar industry, which help stabilize and enhance its revenue flow. Additionally, the company invests in research and development to innovate and improve the efficiency and cost-effectiveness of its products, further driving sales and profitability. JinkoSolar's global reach and strategic positioning in various markets allow it to capitalize on the growing demand for renewable energy solutions, contributing significantly to its earnings.
JinkoSolar Key Performance Indicators (KPIs)
Any
Total MW Shipments
Measures the total megawatts of solar panels shipped, indicating the company's market reach and demand for its products. A higher number suggests strong sales performance and competitive positioning in the solar industry.
Measures the total megawatts of solar panels shipped, indicating the company's market reach and demand for its products. A higher number suggests strong sales performance and competitive positioning in the solar industry.
Data provided by:
Main Street Data
Main Street DataJinkoSolar Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q1-2025)
| % Change Since: 41.20%|
Next Earnings Date:Aug 22, 2025
Earnings Call Sentiment Negative
The earnings call highlighted significant advancements in technology and expansion of energy storage solutions, alongside strong cash reserves. However, these positives were overshadowed by substantial declines in revenue, profitability, and challenges in the U.S. market, leading to an unfavorable financial position.Q1-2025 Updates
Positive Updates
Record Module Shipments
First quarter total shipments were 19.1 gigawatts, with module shipment accounting for approximately 90%. Shipments to Indo-Pacific market grew by nearly 10% year-over-year and 150% sequentially, while shipments to North Asia increased by nearly 20% year-over-year.
Advancements in TOPCon Technology
By the end of the first quarter, the mass-produced cell efficiency for third-generation TOPCon products exceeded 26.6%. Laboratory efficiency for perovskite tandem solar cell based on TOPCon reached 34.22%, setting a new record.
Expansion in Energy Storage Shipments
In the first quarter, shipments of ESS exceeded 300 megawatt hours, a large increase compared to the same period last year. Expected shipments of ESS to be around 6 gigawatt hours for the full-year 2025.
Strong Cash and Cash Equivalents
By the end of the first quarter, cash and cash equivalents were US$3.77 billion, a significant increase from US$2.44 billion at the end of the first quarter last year.
Negative Updates
Decreased Revenue and Profitability
Total revenue was US$1.9 billion, down 33% sequentially and down 40% year-over-year. Gross margin decreased due to the decrease in ASP of solar modules. Net loss was approximately US$180 million for the first quarter.
Challenges in U.S. Market
Year-over-year decline in shipments to the U.S. market due to changes in international trade policies, such as reciprocal tariffs and ADCBD uncertainties.
Negative Operating Loss Margin
Operating loss margin was about 20% compared with 9% in the fourth quarter last year and 1.5% in the first quarter last year.
Company Guidance
During JinkoSolar's Q1 2025 earnings call, the company provided guidance for the second quarter and the full year. JinkoSolar anticipates its annual production capacity for mono wafers, solar cells, and solar modules to reach 120 GW, 95 GW, and 130 GW, respectively, by the end of 2025. Module shipments are projected to range between 20 GW to 25 GW in Q2 2025 and between 85 GW to 100 GW for the entire year. Additionally, the company expects its third-generation TOPCon module production capacity to reach 40 GW to 50 GW. JinkoSolar also aims for energy storage system (ESS) shipments to achieve around 6 GWh in 2025, with a focus on overseas markets. The company remains committed to optimizing its market strategies and supply chain management to adapt to changes in market demand and continue improving technology and product competitiveness.JinkoSolar Financial Statement Overview
Summary
JinkoSolar's financial performance shows mixed results. The income statement indicates declining profitability with inconsistent revenue growth and a negative EBIT. The balance sheet is burdened by high leverage, posing financial stability risks. Cash flow improvements are promising, but high capital expenditures challenge cash retention.Income Statement
JinkoSolar's income statement reveals mixed performance. The gross profit margin has decreased from previous years, signaling cost management issues. The net profit margin is positive but has declined significantly, reflecting decreased profitability. Revenue growth has been inconsistent, with a recent downturn indicating potential demand challenges. The negative EBIT in the latest year is concerning, although EBITDA remains positive, suggesting some resilience in cash generation.60
Neutral
Balance Sheet
The balance sheet reflects high leverage, as indicated by a substantial debt-to-equity ratio, which poses financial stability risks. The return on equity has decreased, impacting shareholder returns. Equity ratio improvements show some strengthening of the capital structure, yet the high debt level remains a significant concern.55
Neutral
Cash Flow
Cash flow analysis highlights an improvement in operating cash flow, but capital expenditures remain high, impacting free cash flow. The transition from negative to positive free cash flow is a positive sign. However, the operating cash flow to net income ratio indicates potential challenges in converting profit to cash, and the free cash flow to net income ratio suggests room for improvement in financial efficiency.65
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 92.26B | 118.68B | 83.13B | 40.83B | 35.13B |
| Gross Profit | 10.01B | 19.05B | 12.28B | 6.66B | 6.17B |
| EBITDA | 5.83B | 16.85B | 3.43B | 3.04B | 3.14B |
| Net Income | 57.55M | 3.45B | 620.51M | 721.02M | 230.38M |
Balance Sheet | |||||
| Total Assets | 124.88B | 135.83B | 108.66B | 72.98B | 53.23B |
| Cash, Cash Equivalents and Short-Term Investments | 27.74B | 17.08B | 10.35B | 8.47B | 8.05B |
| Total Debt | 36.66B | 56.79B | 47.78B | 37.29B | 27.62B |
| Total Liabilities | 90.56B | 102.30B | 81.66B | 58.70B | 40.24B |
| Stockholders Equity | 19.87B | 20.16B | 16.34B | 11.05B | 9.99B |
Cash Flow | |||||
| Free Cash Flow | 7.48B | -2.02B | -18.05B | -8.22B | -3.54B |
| Operating Cash Flow | 16.85B | 13.83B | -5.80B | 430.65M | 591.49M |
| Investing Cash Flow | -2.90B | -15.16B | -12.27B | -11.31B | -4.92B |
| Financing Cash Flow | -6.27B | 8.64B | 20.02B | 12.02B | 6.30B |
JinkoSolar Technical Analysis
Positive
23.44
Price Trends
19.66
Positive
18.87
Positive
20.59
Positive
Market Momentum
1.29
Positive
66.34
Neutral
15.59
Positive
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 23.44 is above the 20-day moving average (MA) of 22.38, above the 50-day MA of 19.66, and above the 200-day MA of 20.59, indicating a bullish trend. The MACD of 1.29 indicates Positive momentum. The RSI at 66.34 is Neutral, neither overbought nor oversold. The STOCH value of 15.59 is Positive, 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 (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $922.81M | 49.91 | 3.43% | ― | -18.10% | -36.91% | |
60 Neutral | $1.16B | 118.10 | -9.49% | 11.77% | -30.26% | -156.69% | |
57 Neutral | $1.08B | ― | -49.11% | ― | -21.31% | -593.57% | |
57 Neutral | HK$14.24B | 5.10 | -5.75% | 5.29% | 9.34% | -42.23% | |
55 Neutral | $2.34B | ― | -69.47% | ― | -2.08% | -80.64% | |
53 Neutral | $820.41M | 20.05 | -0.39% | ― | -19.06% | -104.91% | |
53 Neutral | $1.57B | ― | -121.50% | ― | -57.89% | -559.87% |
* Technology Sector Average
Performance Comparison
JKS
JinkoSolar
23.44
5.38
29.79%
CSIQ
Canadian Solar
12.90
-3.27
-20.22%
SEDG
SolarEdge Technologies
28.83
3.31
12.97%
RUN
Sunrun
10.46
-6.81
-39.43%
ARRY
Array Technologies
6.82
-4.13
-37.72%
SHLS
Shoals Technologies Group
5.64
-0.99
-14.93%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.