JinkoSolar (JKS) AI Stock Analysis

• Market Cap: $1.40B
• Dividend Yield: 10.19%
• Average Volume (3M): 655.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.80
• Revenue Growth: -34.29%
• EPS Growth: -732.90%
• Country: US
• Employees: 33,830
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -1.02
• Shares Outstanding: 51,652,440
• 10 Day Avg. Volume: 718,014
• 30 Day Avg. Volume: 655,588
• PEG Ratio: -0.40
• Price to Book (P/B): 0.12
• Price to Sales (P/S): 0.03
• P/FCF Ratio: 0.32
• Enterprise Value/Market Cap: 20.17
• Enterprise Value/Revenue: 0.56
• Enterprise Value/Gross Profit: 17.45
• Enterprise Value/Ebitda: -6.57
• 1Y Price Target: $23.33
• Price Target Upside: -14.45% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $29.00 ▲(6.34% Upside)

JinkoSolar's overall stock score reflects a cautious outlook. The most significant factor is the financial performance, which shows declining profitability and high leverage. Technical analysis provides a slightly positive outlook, while the valuation is concerning due to a negative P/E ratio. The earnings call offers some optimism with strategic shifts and operational achievements, but challenges remain.

Positive Factors

Scale & Market Leadership

Leading cumulative shipments and top global ranking reflect durable scale advantages: lower per-unit costs, stronger supplier leverage, broad customer relationships and preferred status in large project tenders. Scale underpins long-term competitiveness in module manufacturing.

Energy Storage (ESS) Growth and Higher-Margin Mix

Rapid ESS volume growth and materially higher expected ESS margins signal strategic diversification away from cyclical module ASPs. A higher-margin ESS mix can sustainably lift group profitability, provide recurring project economics, and reduce exposure to module price cycles over the medium term.

Improving Operating Cash Generation

Material operating cash flow improvement points to stronger cash conversion and reduced liquidity strain. Positive OCF supports capex for high-power products and ESS, helps service debt, and provides durable financial flexibility if sustained across quarters.

Negative Factors

Rising Net Debt

Elevated and rising net debt increases refinancing and interest-rate sensitivity for a cyclical manufacturer. High leverage limits strategic optionality, raises funding costs for capacity expansions and ESS investments, and heightens solvency risk during industry downturns.

Revenue Decline and Margin Compression

Sustained revenue declines and lower gross margins reflect weaker module demand and falling ASPs. Persistent top-line contraction erodes operating leverage, pressures profitability metrics and may force margin-sacrificing actions, impairing long-term ability to fund R&D and vertical expansion.

Significant Loss at Core Operating Subsidiary

A multi-billion RMB loss at the principal operating subsidiary (55.59% owned) materially exposes consolidated earnings and may require group capital support. Persistent subsidiary losses can depress group return on equity, strain balance sheet repair efforts, and impede long-term investment plans.

JinkoSolar Business Overview & Revenue Model

Company Description

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects. The company sells its products to distributors, project developers, system integrators, and manufacturers of solar power products under the JinkoSolar brand. As of March 31, 2022, it had an integrated annual capacity of 40 gigawatts (GW) for mono wafers; 40.0 GW for solar cells; and 50.0 GW for solar modules. The company has operations in the People's Republic of China, the United States, Mexico, Australia, Japan, United Arab Emirates, Turkey, Jordan, Vietnam, Egypt, Spain, and Germany. JinkoSolar Holding Co., Ltd. was founded in 2006 and is based in Shangrao, the People's Republic of China.

How the Company Makes Money

JinkoSolar generates revenue primarily through the sale of solar modules and related products. The company's revenue model is largely driven by the production and distribution of photovoltaic cells and panels, which are sold to distributors, installers, and project developers across various markets. Key revenue streams include direct sales of solar modules, sales of solar system solutions, and long-term contracts for solar energy projects. Additionally, JinkoSolar benefits from strategic partnerships with other companies in the energy sector, government incentives for renewable energy production, and increasing global demand for clean energy solutions, which contribute significantly to its earnings.

JinkoSolar Financial Statement Overview

Summary

JinkoSolar's financial performance is mixed. The income statement shows declining profitability and inconsistent revenue growth. 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.

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.

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	50.65B	92.26B	118.68B	83.13B	40.83B	35.13B
Gross Profit	1.62B	10.06B	19.05B	12.28B	6.66B	6.17B
EBITDA	-4.30B	9.22B	16.85B	5.82B	3.73B	2.63B
Net Income	-2.55B	54.54M	3.45B	620.51M	721.02M	230.38M
Balance Sheet
Total Assets	120.84B	124.88B	135.83B	108.66B	72.98B	53.23B
Cash, Cash Equivalents and Short-Term Investments	23.44B	25.98B	17.08B	10.35B	8.47B	8.05B
Total Debt	49.37B	47.85B	56.79B	47.78B	37.29B	27.62B
Total Liabilities	90.73B	90.64B	102.30B	81.66B	58.70B	40.24B
Stockholders Equity	17.10B	19.90B	20.16B	16.34B	11.05B	9.99B
Cash Flow
Free Cash Flow	0.00	7.48B	-2.02B	-18.05B	-8.22B	-3.54B
Operating Cash Flow	0.00	16.85B	13.83B	-5.80B	430.65M	591.49M
Investing Cash Flow	0.00	-2.90B	-15.16B	-12.27B	-11.31B	-4.92B
Financing Cash Flow	0.00	-6.27B	8.64B	20.02B	12.02B	6.30B

JinkoSolar Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 27.27 is below the 20-day moving average (MA) of 27.70, above the 50-day MA of 26.93, and above the 200-day MA of 22.90, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 49.47 is Neutral, neither overbought nor oversold. The STOCH value of 52.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JKS.

JinkoSolar Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENPH	66 Neutral	$5.23B	28.00	20.31%	―	20.97%	226.98%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
JKS	61 Neutral	$1.40B	-2.99	-17.96%	10.19%	-34.29%	-732.90%
SEDG	49 Neutral	$2.08B	-3.70	-78.09%	―	-0.14%	66.71%
RUN	49 Neutral	$4.81B	―	-59.68%	―	13.79%	-527.48%
CSIQ	45 Neutral	$1.48B	90.92	0.56%	―	-4.46%	1645.26%
MAXN	39 Underperform	$46.97M	-0.01	―	―	-54.68%	63.56%

JinkoSolar Corporate Events

JinkoSolar Flags Multi-Billion-RMB 2025 Loss at Core Subsidiary Jiangxi Jinko

On January 21, 2026, JinkoSolar announced that its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), expects to report a substantial preliminary unaudited net loss attributable to its shareholders for the full year ended December 31, 2025, estimated between RMB5.9 billion and RMB6.9 billion, rising to RMB6.7 billion to RMB7.8 billion when excluding extraordinary gains and losses. The company emphasized that these figures, prepared under PRC GAAP and limited to Jiangxi Jinko, will differ from JinkoSolar’s consolidated U.S. GAAP financial statements, urging investors not to base decisions solely on these preliminary results; the sizable expected loss at the core operating subsidiary underscores ongoing margin and market pressures in the solar manufacturing sector and could weigh on JinkoSolar’s overall profitability, while its 55.59% stake in Jiangxi Jinko means group-level earnings will be significantly exposed to the subsidiary’s performance.

The most recent analyst rating on (JKS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on JinkoSolar stock, see the JKS Stock Forecast page.

JinkoSolar Shareholders Approve All Resolutions at 2025 AGM

On December 29, 2025, JinkoSolar Holding Co., Ltd. reported that all resolutions presented at its 2025 annual general meeting held the same day were approved by shareholders, reinforcing continuity in its governance and oversight. Investors endorsed the re-election of director Haiyun Cao and independent director Wing Keong Siew, ratified PricewaterhouseCoopers Zhong Tian LLP as auditor for the 2025 fiscal year, and authorized the board to set auditor remuneration and take any necessary actions to implement these decisions, underscoring shareholder support for the company’s existing leadership, audit framework and operational direction.

The most recent analyst rating on (JKS) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on JinkoSolar stock, see the JKS Stock Forecast page.

JinkoSolar Reports Q2 and Q3 2025 Financial Results, Highlights Growth in Energy Storage

On November 17, 2025, JinkoSolar announced its financial results for the second and third quarters of 2025. The company reported a significant achievement in becoming the first module manufacturer to deliver a total of 370 GW of solar modules. Despite a decrease in total revenues and shipments compared to the previous year, JinkoSolar’s gross profit margin improved sequentially. The company also highlighted the growth of its energy storage business, which is expected to become a major growth engine by 2026. JinkoSolar’s strategic focus on high-power products and energy storage solutions aligns with global energy transitions and positions it to strengthen its competitive advantage in the industry.

The most recent analyst rating on (JKS) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on JinkoSolar stock, see the JKS Stock Forecast page.

JinkoSolar Subsidiary Reports Q3 2025 Financial Losses

On October 30, 2025, JinkoSolar’s subsidiary, Jinko Solar Co., Ltd., announced its unaudited financial results for the third quarter ending September 30, 2025. The results, prepared under PRC GAAP, revealed a decline in total assets and equity, with significant losses reported before income taxes and net profit. The financial performance reflects challenges in the solar industry, impacting the company’s operations and market positioning. Investors are advised to exercise caution due to differences in accounting standards between PRC GAAP and US GAAP.

The most recent analyst rating on (JKS) stock is a Hold with a $24.50 price target. To see the full list of analyst forecasts on JinkoSolar stock, see the JKS Stock Forecast page.