JA SOLAR TECHNOLOGY CO., LTD. Financials JA Solar Technology Co., Ltd.
Equities
002459
CNE100000SD1
Renewable Energy Equipment & Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.64 CNY | -1.74% |
|
+2.95% | -29.34% |
| May. 09 | Jefferies Adjusts JA Solar Technology’s Price Target to 20.90 Yuan From 27.10 Yuan, Keeps at Buy | MT |
| Apr. 30 | JA Solar Technology Co., Ltd. Proposes Final Dividend for 2023 | CI |
Valuation
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 64,962 | 148,239 | 141,536 | 68,713 | 48,157 | - | - |
| Enterprise Value (EV) 1 | 64,962 | 145,167 | 134,822 | 68,713 | 58,539 | 57,783 | 43,034 |
| P/E ratio | 37.7 x | 73 x | 25.2 x | 9.87 x | 13.1 x | 6.45 x | 8.07 x |
| Yield | - | - | 0.4% | - | 1.72% | 2.27% | 2.57% |
| Capitalization / Revenue | 2.51 x | 3.59 x | 1.94 x | 0.84 x | 0.56 x | 0.43 x | 0.4 x |
| EV / Revenue | 2.51 x | 3.51 x | 1.85 x | 0.84 x | 0.68 x | 0.52 x | 0.35 x |
| EV / EBITDA | 17.2 x | 28.1 x | 14.6 x | 5.67 x | 7.25 x | 4.13 x | 3.3 x |
| EV / FCF | - | -86.9 x | 311 x | - | -13.7 x | -81.4 x | 6.12 x |
| FCF Yield | - | -1.15% | 0.32% | - | -7.28% | -1.23% | 16.3% |
| Price to Book | 4.43 x | 8.99 x | - | - | 1.29 x | 1.08 x | 1.05 x |
| Nbr of stocks (in thousands) | 3,126,852 | 3,134,291 | 3,297,567 | 3,316,249 | 3,289,384 | - | - |
| Reference price 2 | 20.78 | 47.30 | 42.92 | 20.72 | 14.64 | 14.64 | 14.64 |
| Announcement Date | 3/29/21 | 4/14/22 | 3/22/23 | 4/30/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 25,847 | 41,302 | 72,989 | 81,556 | 86,679 | 111,740 | 121,570 |
| EBITDA 1 | 3,771 | 5,173 | 9,259 | 12,126 | 8,072 | 13,980 | 13,044 |
| EBIT 1 | 1,918 | 2,600 | 6,468 | 8,114 | 4,513 | 9,147 | 7,742 |
| Operating Margin | 7.42% | 6.3% | 8.86% | 9.95% | 5.21% | 8.19% | 6.37% |
| Earnings before Tax (EBT) 1 | 1,814 | 2,426 | 6,317 | 8,043 | 4,428 | 8,910 | 6,399 |
| Net income 1 | 1,507 | 2,039 | 5,533 | 7,039 | 3,799 | 7,790 | 6,221 |
| Net margin | 5.83% | 4.94% | 7.58% | 8.63% | 4.38% | 6.97% | 5.12% |
| EPS 2 | 0.5510 | 0.6480 | 1.700 | 2.100 | 1.118 | 2.270 | 1.815 |
| Free Cash Flow 1 | - | -1,671 | 433.6 | - | -4,264 | -709.5 | 7,034 |
| FCF margin | - | -4.05% | 0.59% | - | -4.92% | -0.63% | 5.79% |
| FCF Conversion (EBITDA) | - | - | 4.68% | - | - | - | 53.93% |
| FCF Conversion (Net income) | - | - | 7.84% | - | - | - | 113.06% |
| Dividend per Share 2 | - | - | 0.1714 | - | 0.2523 | 0.3318 | 0.3760 |
| Announcement Date | 3/29/21 | 4/14/22 | 3/22/23 | 4/30/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | - | - | 19,138 | 21,575 | 15,971 | 22,665 | 29,272 | 33,217 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income | 1,702 | 1,587 | 2,582 | 2,231 | 1,951 | - | - | - | - | - |
| Net margin | - | - | - | - | 10.2% | - | - | - | - | - |
| EPS | 0.5286 | 0.4786 | - | 0.3700 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/25/22 | 10/27/22 | 4/26/23 | 8/30/23 | 10/31/23 | 4/30/24 | 4/29/24 | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 10,382 | 9,626 | - |
| Net Cash position 1 | - | 3,072 | 6,715 | - | - | - | 5,122 |
| Leverage (Debt/EBITDA) | - | - | - | - | 1.286 x | 0.6885 x | - |
| Free Cash Flow 1 | - | -1,671 | 434 | - | -4,264 | -710 | 7,034 |
| ROE (net income / shareholders' equity) | 13.3% | 13.1% | 24.2% | - | 8.69% | 16.6% | 13.9% |
| ROA (Net income/ Total Assets) | 4.58% | 4.33% | 8.56% | - | 2.71% | 5.83% | 4.74% |
| Assets 1 | 32,913 | 47,135 | 64,658 | - | 140,132 | 133,527 | 131,313 |
| Book Value Per Share 2 | 4.690 | 5.260 | - | - | 11.40 | 13.50 | 14.00 |
| Cash Flow per Share 2 | 0.8300 | 1.190 | 2.520 | - | 3.170 | 4.550 | 3.800 |
| Capex 1 | 3,100 | 5,421 | 7,753 | - | 12,070 | 13,314 | 9,743 |
| Capex / Sales | 11.99% | 13.13% | 10.62% | - | 13.92% | 11.92% | 8.01% |
| Announcement Date | 3/29/21 | 4/14/22 | 3/22/23 | 4/30/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
14.64
CNY
Average target price
23
CNY
Spread / Average Target
+57.12%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -29.34% | 6.66B | |
| +10.90% | 20.45B | |
| -18.69% | 19.53B | |
| -18.00% | 14.74B | |
| -9.75% | 14.08B | |
| -9.48% | 11.11B | |
| +33.54% | 7.89B | |
| -14.24% | 7.5B | |
| +26.54% | 6.58B | |
| -31.07% | 6.02B |
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