Education
About Us
Working with TipRanks
Follow Us
JinkoSolar (JKS)
NYSE:JKS
Top Page
JinkoSolar
(NYSE:JKS)
Rating:63Neutral
Price Target:―
Positive Factors
Share Performance
JKS' shares have rallied materially since the announcement of the preliminary Antidumping duties.
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
The stock is facing headwinds due to potential universal tariffs on solar panel imports, which could significantly impact JinkoSolar's operations and profitability.
JinkoSolar (JKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$950.34M
Dividend Yield15.5%
Average Volume (3M)995.51K
Price to Earnings (P/E)118.1
Beta (1Y)1.36
Revenue Growth-30.26%
EPS Growth-156.69%
CountryUS
Employees33,830
SectorTechnology
Sector Strength77
IndustrySolar
Share Statistics
EPS (TTM)-3.53
Shares Outstanding51,652,440
10 Day Avg. Volume704,008
30 Day Avg. Volume995,508
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.10
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
$29.75Price Target Upside58.41% Upside
Rating ConsensusHold
Number of Analyst Covering5
JinkoSolar Business Overview & Revenue Model
Company DescriptionJinkoSolar 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 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 Financial Statement Overview
Summary
JinkoSolar shows strong revenue growth and improved profit margins, but faces challenges with high debt levels and negative free cash flow. Overall, the financial health is solid but requires careful management of leverage and cash flow.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 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 53.30B | 92.26B | 118.68B | 83.13B | 40.83B | 35.13B | Gross Profit |
| 6.59B | 10.01B | 19.05B | 12.28B | 6.66B | 6.17B | EBIT |
| -1.73B | -3.42B | 6.09B | 802.98M | 1.38B | 1.90B | EBITDA |
| 2.03B | 5.83B | 16.85B | 3.43B | 3.04B | 3.14B | Net Income Common Stockholders |
| -324.69M | 57.55M | 3.45B | 620.51M | 721.02M | 230.38M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 17.63B | 27.74B | 17.08B | 10.35B | 8.47B | 8.05B | Total Assets |
| 137.08B | 124.88B | 135.83B | 108.66B | 72.98B | 53.23B | Total Debt |
| 53.47B | 36.66B | 56.79B | 47.78B | 37.29B | 27.62B | Net Debt |
| 35.84B | 8.92B | 40.73B | 37.54B | 28.96B | 20.14B | Total Liabilities |
| 102.38B | 90.56B | 102.30B | 81.66B | 58.70B | 40.24B | Stockholders Equity |
| 20.95B | 19.87B | 20.16B | 16.34B | 11.05B | 9.99B |
| Cash Flow | Free Cash Flow | ||||
| 0.00 | 0.00 | -2.02B | -18.05B | -8.22B | -3.54B | Operating Cash Flow |
| 0.00 | 0.00 | 13.83B | -5.80B | 430.65M | 591.49M | Investing Cash Flow |
| 0.00 | 0.00 | -15.16B | -12.27B | -11.31B | -4.92B | Financing Cash Flow |
| 0.00 | 0.00 | 8.64B | 20.02B | 12.02B | 6.30B |
JinkoSolar Technical Analysis
Negative
18.78
Price Trends
18.54
Positive
20.61
Negative
21.45
Negative
Market Momentum
0.35
Negative
53.73
Neutral
37.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JKS, the sentiment is Negative. The current price of 18.78 is above the 20-day moving average (MA) of 18.34, above the 50-day MA of 18.54, and below the 200-day MA of 21.45, indicating a neutral trend. The MACD of 0.35 indicates Negative momentum. The RSI at 53.73 is Neutral, neither overbought nor oversold. The STOCH value of 37.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $789.07M | 42.35 | 3.43% | ― | -18.10% | -36.91% | |
63 Neutral | $1.11B | ― | -49.11% | ― | -21.31% | -593.57% | |
63 Neutral | $950.34M | 118.10 | -9.49% | 15.50% | -30.26% | -156.69% | |
60 Neutral | $11.59B | 10.34 | -7.15% | 2.94% | 7.49% | -10.88% | |
60 Neutral | $731.89M | 20.05 | -0.39% | ― | -19.06% | -104.91% | |
60 Neutral | $2.58B | ― | -69.47% | ― | -2.08% | -80.64% | |
54 Neutral | $1.22B | ― | -121.50% | ― | -57.89% | -559.87% |
* Technology Sector Average
Performance Comparison
JKS
JinkoSolar
18.78
-7.66
-28.97%
CSIQ
Canadian Solar
10.50
-7.69
-42.28%
SEDG
SolarEdge Technologies
19.84
-32.99
-62.45%
RUN
Sunrun
10.66
-2.26
-17.49%
ARRY
Array Technologies
7.11
-5.87
-45.22%
SHLS
Shoals Technologies Group
4.71
-2.93
-38.35%
JinkoSolar Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q1-2025)
| % Change Since: 6.40%|
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.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.