Stock 688599 TRINA SOLAR CO., LTD.
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Financials Trina Solar Co., Ltd.

Equities

688599

CNE100003ZR0

Renewable Energy Equipment & Services

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
20.58 CNY +3.21% Intraday chart for Trina Solar Co., Ltd. -1.72% -27.87%
Apr. 26 Trina Solar's Q1 Profit Plunges 71% MT
Apr. 26 Jefferies Adjusts Trina Solar’s Price Target to 26.12 Yuan From 33.07 Yuan, Keeps at Buy MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 47,875 163,167 138,316 61,783 44,574 - -
Enterprise Value (EV) 1 47,875 169,433 136,418 66,772 44,574 59,635 40,440
P/E ratio 36.2 x 90.7 x 37.3 x 11.8 x 10.8 x 5.62 x 4.04 x
Yield - 0.29% 0.75% 2.22% 2.18% 3.8% 4.35%
Capitalization / Revenue 1.63 x 3.67 x 1.63 x 0.54 x 0.37 x 0.3 x 0.26 x
EV / Revenue 1.63 x 3.67 x 1.63 x 0.54 x 0.37 x 0.3 x 0.26 x
EV / EBITDA - 46.1 x 22.1 x 6.06 x 4.24 x 3.28 x 2.63 x
EV / FCF - -30.6 x 119 x 11.9 x 39.8 x 3.79 x 5.08 x
FCF Yield - -3.27% 0.84% 8.43% 2.51% 26.4% 19.7%
Price to Book - 9.75 x 5.26 x 2.01 x 1.23 x 1.03 x 1.23 x
Nbr of stocks (in thousands) 2,068,026 2,068,026 2,169,325 2,165,534 2,165,873 - -
Reference price 2 23.15 78.90 63.76 28.53 20.58 20.58 20.58
Announcement Date 2/24/21 2/22/22 2/23/23 2/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 29,418 44,480 85,052 113,392 119,343 147,418 170,297
EBITDA 1 - - 3,540 6,273 10,199 10,518 13,579 16,977
EBIT 1 - 1,433 2,261 4,078 6,955 5,404 10,056 10,939
Operating Margin - 4.87% 5.08% 4.79% 6.13% 4.53% 6.82% 6.42%
Earnings before Tax (EBT) 1 - 1,407 2,274 3,984 6,533 8,713 9,652 9,491
Net income 1 640.6 1,229 1,804 3,680 5,531 4,268 8,005 7,865
Net margin - 4.18% 4.06% 4.33% 4.88% 3.58% 5.43% 4.62%
EPS 2 0.3600 0.6400 0.8700 1.710 2.420 1.909 3.661 5.090
Free Cash Flow 1 - - -5,329 1,161 5,205 1,121 11,768 8,771
FCF margin - - -11.98% 1.37% 4.59% 0.94% 7.98% 5.15%
FCF Conversion (EBITDA) - - - 18.51% 51.04% 10.66% 86.66% 51.66%
FCF Conversion (Net income) - - - 31.55% 94.11% 26.27% 147.01% 111.52%
Dividend per Share 2 - - 0.2300 0.4780 0.6330 0.4488 0.7816 0.8960
Announcement Date 5/20/20 2/24/21 2/22/22 2/23/23 2/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - - - 26,853 21,319 28,065 31,736 32,272 18,256 34,067 37,413 44,716
EBITDA - - - - - - - - - - - -
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 543.2 1,269 1,133 - 1,768 1,772 1,537 - - - - -
Net margin - - - - 8.29% 6.31% 4.84% - - - - -
EPS - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 4/27/22 8/25/22 10/30/22 2/23/23 4/26/23 8/29/23 10/27/23 2/23/24 4/25/24 - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - 6,265 - 4,989 - 15,061 -
Net Cash position - - - 1,898 - - - 4,134
Leverage (Debt/EBITDA) - - 1.77 x - 0.4892 x - 1.109 x -
Free Cash Flow 1 - - -5,329 1,161 5,205 1,121 11,768 8,771
ROE (net income / shareholders' equity) - 8.94% 11.3% 16.2% 19% 11.3% 18.3% 17.1%
ROA (Net income/ Total Assets) - 3% 3.44% 4.55% - 3.8% 5.77% 9%
Assets 1 - 40,935 52,477 80,883 - 112,313 138,651 87,385
Book Value Per Share 2 - - 8.090 12.10 14.20 16.80 20.00 16.70
Cash Flow per Share 2 - 1.450 0.5300 4.250 11.00 1.590 5.390 -
Capex 1 - - 6,427 8,076 18,791 9,103 7,326 7,304
Capex / Sales - - 14.45% 9.5% 16.57% 7.63% 4.97% 4.29%
Announcement Date 5/20/20 2/24/21 2/22/22 2/23/23 2/23/24 - - -
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

Ratings for Trina Solar Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
20.58 CNY
Average target price
27.85 CNY
Spread / Average Target
+35.34%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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