JINKOSOLAR HOLDING CO., LTD. Financials JinkoSolar Holding Co., Ltd.
Equities
JKS
US47759T1007
Renewable Energy Equipment & Services
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 24.14 USD | +4.55% |
|
+11.97% | -34.65% |
| Apr. 23 | JinkoSolar to Sell 100-MW Power Modules to Italy's Nyox | MT |
| Apr. 23 | JinkoSolar Holding Co., Ltd. to Supply Nyox Srl with 100Mw Tiger Neo Modules | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 387.8 | 996.2 | 2,802 | 2,192 | 2,049 | 1,240 | 1,240 | - |
| Enterprise Value (EV) 1 | 2,270 | 3,000 | 5,739 | 6,643 | 7,379 | 1,905 | 3,618 | 4,190 |
| P/E ratio | 6.51 x | 8.06 x | 78.3 x | 19.4 x | 21.2 x | 4.31 x | 5.63 x | 3.66 x |
| Yield | - | - | - | - | - | - | - | 0.42% |
| Capitalization / Revenue | 0.11 x | 0.23 x | 0.52 x | 0.34 x | 0.17 x | 0.11 x | 0.07 x | 0.06 x |
| EV / Revenue | 0.62 x | 0.7 x | 1.07 x | 1.04 x | 0.61 x | 0.11 x | 0.22 x | 0.21 x |
| EV / EBITDA | 10.6 x | 8.29 x | 12.3 x | 22.4 x | 15.8 x | 2.52 x | 2.57 x | 2.33 x |
| EV / FCF | -8.5 x | -9.39 x | -10.5 x | -5.35 x | -2.83 x | -4.27 x | -12.7 x | 21.7 x |
| FCF Yield | -11.8% | -10.7% | -9.52% | -18.7% | -35.4% | -23.4% | -7.88% | 4.61% |
| Price to Book | 0.27 x | 0.75 x | 1.89 x | 1.26 x | 0.87 x | 0.46 x | 0.35 x | 0.31 x |
| Nbr of stocks (in thousands) | 39,212 | 44,296 | 45,294 | 47,692 | 50,124 | 51,352 | 51,352 | - |
| Reference price 2 | 9.890 | 22.49 | 61.87 | 45.96 | 40.88 | 24.14 | 24.14 | 24.14 |
| Announcement Date | 3/22/19 | 3/13/20 | 4/9/21 | 3/23/22 | 3/10/23 | 3/20/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,642 | 4,273 | 5,384 | 6,407 | 12,111 | 16,716 | 16,576 | 19,599 |
| EBITDA 1 | 214.8 | 361.9 | 466.3 | 297.1 | 465.9 | 1,621 | 1,408 | 1,800 |
| EBIT 1 | 93.8 | 248.4 | 273.6 | 173 | 66.84 | 858.1 | 486.9 | 810.5 |
| Operating Margin | 2.58% | 5.81% | 5.08% | 2.7% | 0.55% | 5.13% | 2.94% | 4.14% |
| Earnings before Tax (EBT) 1 | 59.25 | 179.7 | 86.8 | 171 | 291.2 | 1,055 | 237.7 | 538.8 |
| Net income 1 | 59.12 | 129.1 | 35.31 | 113.1 | 96.44 | 485.6 | 256.6 | 415.1 |
| Net margin | 1.62% | 3.02% | 0.66% | 1.77% | 0.8% | 2.9% | 1.55% | 2.12% |
| EPS 2 | 1.520 | 2.790 | 0.7900 | 2.370 | 1.930 | 8.580 | 4.286 | 6.598 |
| Free Cash Flow 1 | -267.2 | -319.6 | -546.4 | -1,241 | -2,611 | -956.9 | -285 | 193 |
| FCF margin | -7.33% | -7.48% | -10.15% | -19.37% | -21.56% | -5.94% | -1.72% | 0.98% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | 10.72% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | 46.5% |
| Dividend per Share 2 | - | - | - | - | - | - | - | 0.1003 |
| Announcement Date | 3/22/19 | 3/13/20 | 4/9/21 | 3/23/22 | 3/10/23 | 3/20/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,228 | 1,330 | 2,572 | 2,329 | 2,813 | 2,744 | 4,408 | 3,397 | 4,232 | 4,363 | 4,624 | 3,249 | 4,118 | 4,938 | 5,334 |
| EBITDA 1 | 103.4 | 65.9 | 148.3 | 69.01 | 41.35 | 66.51 | - | - | - | - | 395.9 | 244 | 376.2 | 492.8 | 575.3 |
| EBIT 1 | 55.2 | 17.3 | 76.24 | 6.429 | -43.16 | 8.874 | 93.68 | 176.4 | 212.1 | 409.8 | 49.64 | -57.06 | 55.31 | 186.9 | 252.1 |
| Operating Margin | 4.5% | 1.3% | 2.96% | 0.28% | -1.53% | 0.32% | 2.13% | 5.19% | 5.01% | 9.39% | 1.07% | -1.76% | 1.34% | 3.78% | 4.73% |
| Earnings before Tax (EBT) | 24.82 | 31.64 | 70.18 | 26.64 | -34.08 | 127.9 | 168 | 222.6 | 370.9 | 377 | - | - | - | - | - |
| Net income 1 | 10.26 | 30.14 | 37.58 | 4.567 | -93.05 | 77.29 | 102.9 | 114.8 | 180.1 | 181.4 | 4.13 | -15.71 | 42.57 | 93.99 | 130.2 |
| Net margin | 0.84% | 2.27% | 1.46% | 0.2% | -3.31% | 2.82% | 2.33% | 3.38% | 4.26% | 4.16% | 0.09% | -0.48% | 1.03% | 1.9% | 2.44% |
| EPS 2 | 0.2100 | 0.6300 | 0.7900 | 0.1000 | -1.880 | 0.9000 | 0.8500 | 2.180 | 3.060 | 2.530 | 0.0800 | -0.2955 | 0.7856 | 1.722 | 2.377 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 9/15/21 | 11/30/21 | 3/23/22 | 4/28/22 | 8/26/22 | 10/28/22 | 3/10/23 | 4/28/23 | 8/14/23 | 10/30/23 | 3/20/24 | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,882 | 2,003 | 2,936 | 4,451 | 5,330 | 2,851 | 2,379 | 2,951 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 8.762 x | 5.536 x | 6.296 x | 14.98 x | 11.44 x | 1.758 x | 1.69 x | 1.639 x |
| Free Cash Flow 1 | -267 | -320 | -546 | -1,241 | -2,611 | -957 | -285 | 193 |
| ROE (net income / shareholders' equity) | 6% | 10.5% | 2.39% | 6.85% | 4.85% | 21% | 6.26% | 10.5% |
| ROA (Net income/ Total Assets) | 1.35% | 2.15% | 0.46% | 1.14% | 0.73% | 4.1% | 2.17% | 3.5% |
| Assets 1 | 4,374 | 6,012 | 7,675 | 9,903 | 13,171 | 14,902 | 11,842 | 11,860 |
| Book Value Per Share 2 | 36.00 | 29.90 | 32.70 | 36.30 | 47.20 | 52.30 | 68.30 | 78.70 |
| Cash Flow per Share 2 | 2.310 | 4.700 | 2.130 | 1.360 | -17.00 | 29.20 | 18.50 | 2.810 |
| Capex 1 | 357 | 519 | 638 | 1,306 | 1,772 | 1,959 | 1,631 | 1,421 |
| Capex / Sales | 9.79% | 12.14% | 11.84% | 20.38% | 14.63% | 12.16% | 9.84% | 7.25% |
| Announcement Date | 3/22/19 | 3/13/20 | 4/9/21 | 3/23/22 | 3/10/23 | 3/20/24 | - | - |
1USD in Million2USD
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
8
Last Close Price
24.14
USD
Average target price
35.06
USD
Spread / Average Target
+45.22%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -34.65% | 1.24B | |
| -18.69% | 19.47B | |
| +3.74% | 19.13B | |
| -15.29% | 15.23B | |
| -13.38% | 13.47B | |
| -13.32% | 10.6B | |
| +37.48% | 7.64B | |
| -16.81% | 7.26B | |
| -30.07% | 6.63B | |
| +16.23% | 6.03B |
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- Financials JinkoSolar Holding Co., Ltd.
