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JinkoSolar (JKS)
NYSE:JKS
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JinkoSolar
(NYSE:JKS)
Rating:53Neutral
Price Target:
$22.00
▼(-13.66% Downside)
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
$1.22B
Dividend Yield10.83%
Average Volume (3M)445.81K
Price to Earnings (P/E)118.1
Beta (1Y)1.27
Revenue Growth-30.26%
EPS Growth-156.69%
CountryUS
Employees33,830
SectorTechnology
Sector Strength83
IndustrySolar
Share Statistics
EPS (TTM)-1.23
Shares Outstanding51,652,440
10 Day Avg. Volume501,151
30 Day Avg. Volume445,808
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap4.21
Enterprise Value/Revenue0.06
Enterprise Value/Gross Profit0.73
Enterprise Value/Ebitda-1.92
Forecast
1Y Price Target
$22.00Price Target Upside-13.66% Downside
Rating ConsensusHold
Number of Analyst Covering1
JinkoSolar Business Overview & Revenue Model
Company DescriptionJinkoSolar Holding Co., Ltd. is a leading global solar module manufacturer headquartered in Shanghai, China. The company specializes in the production of high-efficiency photovoltaic (PV) solar cells and modules, as well as providing comprehensive solar energy solutions. JinkoSolar operates in the renewable energy sector, focusing on the development, manufacturing, and distribution of solar products, catering to both residential and commercial markets. Its core products include solar panels, inverters, and energy storage systems, which are widely used in solar power installations around the world.
How the Company Makes MoneyJinkoSolar generates revenue primarily through the sale of its solar modules and related products. The company operates a vertically integrated business model, which allows it to control the entire manufacturing process, from silicon ingots to finished solar panels. Its key revenue streams include direct sales to solar project developers, distributors, and installers, as well as partnerships with utility companies for large-scale solar projects. Additionally, JinkoSolar benefits from government incentives and subsidies aimed at promoting renewable energy, which enhance its profitability. The company also engages in strategic collaborations and joint ventures that expand its market reach and enable the development of innovative solar technologies, further contributing 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:Aug 27, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Nov 04, 2025
Earnings Call Sentiment Neutral
The earnings call presented both significant achievements in technological advancements and market expansion, particularly in energy storage and the Indo-Pacific region. However, these were offset by substantial financial challenges, including a notable revenue decline, negative profitability metrics, and increased debt levels. The challenges in the U.S. market further contributed to a cautious outlook.Q1-2025 Updates
Positive Updates
Increase in Energy Storage Shipments
Shipments of Energy Storage Systems (ESS) exceeded 300 megawatt-hours in Q1 2025, with expectations of reaching 6 gigawatt-hours for the full year. The confirmed orders for energy storage systems account for 50% to 60%, with another 20% to 30% showing strong potential.
Expansion in Indo-Pacific and Middle East
Shipments to the 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. The visibility of the order book stands at 60% to 70%, with Indo-Pacific and Middle East and Africa exceeding 80%.
Record Efficiency in Solar Cell Technology
Mass-produced cell efficiency for third-generation TOPCon products exceeded 26.6%, and laboratory efficiency for perovskite tandem solar cell based on TOPCon reached 34.22%, setting a new record.
Improvement in Cash Reserves
Cash and cash equivalents increased to US$3.77 billion by the end of Q1 2025, up from US$2.44 billion at the end of Q1 2024.
Negative Updates
Significant Revenue Decline
Total revenue was US$1.9 billion, down 33% sequentially and down 40% year-over-year, primarily due to a decrease in shipments and average selling price of solar modules.
Negative Profitability Metrics
Net loss was approximately US$180 million for Q1 2025. Gross margin decreased both sequentially and year-over-year, with an operating loss margin of about 20% compared to 9% in the previous quarter.
Challenges in U.S. Market
Year-over-year decline in shipments to the U.S. market, affected by reciprocal tariffs and other trade policy changes. U.S. shipments accounted for approximately 5% of total shipments.
Increased Debt Levels
Total debt was US$6.4 billion, up from US$5.5 billion in the previous quarter, with net debt increasing to US$2.6 billion from US$1.7 billion.
Company Guidance
During JinkoSolar's first quarter 2025 earnings call, the company provided guidance for the upcoming quarters and the full year. They project their annual production capacity to reach 120 gigawatts for mono wafers, 95 gigawatts for solar cells, and 130 gigawatts for solar modules by the end of 2025. Additionally, the production capacity for their third-generation TOPCon modules is expected to be between 40 gigawatts to 50 gigawatts. For module shipments, JinkoSolar anticipates delivering between 20 gigawatts to 25 gigawatts in the second quarter and between 85 gigawatts to 100 gigawatts for the entire year. They also outlined a strategic focus on maintaining competitiveness through ongoing technology and product enhancements, supply chain management, and responding to market demand changes. The company is targeting a significant growth in energy storage system (ESS) shipments, forecasting around 6 gigawatt-hours for 2025, with confirmed orders accounting for 50% to 60% of this target, and potential strong interest covering an additional 20% to 30%.JinkoSolar Financial Statement Overview
Summary
JinkoSolar's financial statements reveal a cautious position with declining profitability and inconsistent revenue growth. The balance sheet is heavily leveraged, posing financial stability risks, while cash flow improvements are promising but challenged by high capital expenditures.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.06B | 92.26B | 118.68B | 83.13B | 40.83B | 35.13B |
| Gross Profit | 6.97B | 10.06B | 19.05B | 12.28B | 6.66B | 6.17B |
| EBITDA | -2.67B | 9.22B | 16.85B | 5.82B | 3.73B | 2.63B |
| Net Income | -1.87B | 54.54M | 3.45B | 620.51M | 721.02M | 230.38M |
Balance Sheet | ||||||
| Total Assets | 122.25B | 124.88B | 135.83B | 108.66B | 72.98B | 53.23B |
| Cash, Cash Equivalents and Short-Term Investments | 27.38B | 27.74B | 17.08B | 10.35B | 8.47B | 8.05B |
| Total Debt | 42.57B | 36.66B | 56.79B | 47.78B | 37.29B | 27.62B |
| Total Liabilities | 90.63B | 90.56B | 102.30B | 81.66B | 58.70B | 40.24B |
| Stockholders Equity | 18.40B | 19.87B | 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
Positive
25.48
Price Trends
22.93
Positive
20.11
Positive
20.62
Positive
Market Momentum
0.52
Negative
67.48
Neutral
88.92
Negative
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 25.48 is above the 20-day moving average (MA) of 23.07, above the 50-day MA of 22.93, and above the 200-day MA of 20.62, indicating a bullish trend. The MACD of 0.52 indicates Negative momentum. The RSI at 67.48 is Neutral, neither overbought nor oversold. The STOCH value of 88.92 is Negative, 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 (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $1.20B | 56.65 | 3.77% | ― | -11.95% | -7.87% | |
64 Neutral | $1.39B | ― | -44.13% | ― | 6.36% | -1683.09% | |
61 Neutral | $35.52B | 8.84 | -11.06% | 1.87% | 8.55% | -8.14% | |
57 Neutral | $3.79B | ― | -61.90% | ― | 3.27% | -81.63% | |
53 Neutral | $1.22B | 118.10 | -9.49% | 10.83% | -30.26% | -156.69% | |
51 Neutral | $2.03B | ― | -131.02% | ― | -36.07% | -233.14% | |
49 Neutral | $650.30M | 20.05 | -0.25% | ― | -9.11% | -118.62% |
* Technology Sector Average
Performance Comparison
JKS
JinkoSolar
25.48
8.58
50.77%
CSIQ
Canadian Solar
11.17
-0.73
-6.13%
SEDG
SolarEdge Technologies
34.42
16.48
91.86%
RUN
Sunrun
18.18
0.89
5.15%
ARRY
Array Technologies
8.97
2.96
49.25%
SHLS
Shoals Technologies Group
7.16
1.34
23.02%
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.