(JKS) JinkoSolar Holding - Overview
Stock: Solar Modules, Silicon Wafers, Solar Cells, Silicon Ingots, System Integration
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 5.53% |
| Yield on Cost 5y | 2.50% |
| Yield CAGR 5y | -6.91% |
| Payout Consistency | 94.3% |
| Payout Ratio | 388.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 63.2% |
| Relative Tail Risk | -7.86% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.67 |
| Alpha | 10.23 |
| Character TTM | |
|---|---|
| Beta | 1.194 |
| Beta Downside | 1.965 |
| Drawdowns 3y | |
|---|---|
| Max DD | 72.49% |
| CAGR/Max DD | -0.24 |
Description: JKS JinkoSolar Holding January 20, 2026
JinkoSolar Holding Co., Ltd. (NYSE:JKS) designs, develops, manufactures and markets a full suite of photovoltaic products-including mono-silicon wafers, solar cells, modules, and recovered silicon-while also offering system integration, EPC, power-plant development and energy-storage services under the JinkoSolar brand. As of 31 Dec 2024 the firm’s integrated annual capacities stood at roughly 120 GW of mono wafers, 95 GW of cells and 130 GW of modules, serving distributors, project developers and OEMs across China, the U.S., Europe, the Middle East, and emerging markets.
Key recent metrics: 2023 revenue reached about $5.5 billion with a gross margin near 15 %, reflecting tighter pricing pressure from the global oversupply of polysilicon. The company’s earnings are highly sensitive to the U.S. International Trade Commission (ITC) anti-dumping duties on Chinese modules, which currently add an estimated $0.03 per-watt cost to U.S. sales. On the macro side, global solar installations are projected to grow ~20 % YoY in 2025, driven by declining Levelized Cost of Energy (LCOE) and expanding corporate renewable-procurement mandates-both of which could boost JinkoSolar’s order pipeline if it can maintain its cost advantage.
For a deeper, data-driven assessment of JKS’s valuation dynamics, a quick look at ValueRay’s analyst toolkit can help you surface the most material risk-adjusted scenarios.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: -2.52b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 7.76 > 1.0 |
| NWC/Revenue: 21.32% < 20% (prev 5.04%; Δ 16.29% < -1%) |
| CFO/TA 0.14 > 3% & CFO 16.85b > Net Income -2.52b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.30 > 1.5 & < 3 |
| Outstanding Shares: last quarter (13.1m) vs 12m ago -0.21% < -2% |
| Gross Margin: 7.28% > 18% (prev 0.14%; Δ 714.4% > 0.5%) |
| Asset Turnover: 60.25% > 50% (prev 79.27%; Δ -19.02% > 0%) |
| Interest Coverage Ratio: -0.12 > 6 (EBITDA TTM -2.89b / Interest Expense TTM 1.31b) |
Altman Z'' 1.29
| A: 0.13 (Total Current Assets 69.96b - Total Current Liabilities 53.93b) / Total Assets 120.84b |
| B: 0.07 (Retained Earnings 8.64b / Total Assets 120.84b) |
| C: -0.00 (EBIT TTM -152.5m / Avg Total Assets 124.74b) |
| D: 0.19 (Book Value of Equity 17.10b / Total Liabilities 90.73b) |
| Altman-Z'' Score: 1.29 = BB |
Beneish M -2.37
| DSRI: 1.09 (Receivables 18.25b/22.79b, Revenue 75.16b/101.98b) |
| GMI: 1.92 (GM 7.28% / 14.00%) |
| AQI: 1.17 (AQ_t 0.09 / AQ_t-1 0.08) |
| SGI: 0.74 (Revenue 75.16b / 101.98b) |
| TATA: -0.16 (NI -2.52b - CFO 16.85b) / TA 120.84b) |
| Beneish M-Score: -2.37 (Cap -4..+1) = BBB |
What is the price of JKS shares?
Over the past week, the price has changed by -8.50%, over one month by -9.09%, over three months by -0.70% and over the past year by +37.19%.
Is JKS a buy, sell or hold?
- StrongBuy: 2
- Buy: 0
- Hold: 3
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the JKS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 37.4 | 47.3% |
| Analysts Target Price | 37.4 | 47.3% |
| ValueRay Target Price | 25.5 | 0.6% |
JKS Fundamental Data Overview February 03, 2026
P/E Forward = 53.7634
P/S = 0.0193
P/B = 0.5423
P/EG = 0.2568
Revenue TTM = 75.16b CNY
EBIT TTM = -152.5m CNY
EBITDA TTM = -2.89b CNY
Long Term Debt = 30.52b CNY (from longTermDebt, last quarter)
Short Term Debt = 18.61b CNY (from shortTermDebt, last quarter)
Debt = 49.37b CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = 25.93b CNY (from netDebt column, last quarter)
Enterprise Value = 35.38b CNY (9.45b + Debt 49.37b - CCE 23.44b)
Interest Coverage Ratio = -0.12 (Ebit TTM -152.5m / Interest Expense TTM 1.31b)
EV/FCF = 4.73x (Enterprise Value 35.38b / FCF TTM 7.48b)
FCF Yield = 21.15% (FCF TTM 7.48b / Enterprise Value 35.38b)
FCF Margin = 9.95% (FCF TTM 7.48b / Revenue TTM 75.16b)
Net Margin = -3.36% (Net Income TTM -2.52b / Revenue TTM 75.16b)
Gross Margin = 7.28% ((Revenue TTM 75.16b - Cost of Revenue TTM 69.69b) / Revenue TTM)
Gross Margin QoQ = 7.31% (prev -2.55%)
Tobins Q-Ratio = 0.29 (Enterprise Value 35.38b / Total Assets 120.84b)
Interest Expense / Debt = 0.66% (Interest Expense 326.8m / Debt 49.37b)
Taxrate = 21.0% (US default 21%)
NOPAT = -120.4m (EBIT -152.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.30 (Total Current Assets 69.96b / Total Current Liabilities 53.93b)
Debt / Equity = 2.89 (Debt 49.37b / totalStockholderEquity, last quarter 17.10b)
Debt / EBITDA = -8.97 (negative EBITDA) (Net Debt 25.93b / EBITDA -2.89b)
Debt / FCF = 3.47 (Net Debt 25.93b / FCF TTM 7.48b)
Total Stockholder Equity = 18.88b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.02% (Net Income -2.52b / Total Assets 120.84b)
RoE = -13.36% (Net Income TTM -2.52b / Total Stockholder Equity 18.88b)
RoCE = -0.31% (EBIT -152.5m / Capital Employed (Equity 18.88b + L.T.Debt 30.52b))
RoIC = -0.18% (negative operating profit) (NOPAT -120.4m / Invested Capital 66.26b)
WACC = 2.10% (E(9.45b)/V(58.82b) * Re(10.32%) + D(49.37b)/V(58.82b) * Rd(0.66%) * (1-Tc(0.21)))
Discount Rate = 10.32% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -51.62%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈7.48b ; Y1≈4.91b ; Y5≈2.24b
Fair Price DCF = 880.2 (EV 71.40b - Net Debt 25.93b = Equity 45.47b / Shares 51.7m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: -45.72 | EPS CAGR: -0.26% | SUE: 1.36 | # QB: 3
Revenue Correlation: 28.28 | Revenue CAGR: 18.43% | SUE: 0.41 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.22 | Chg30d=+0.690 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=2.23 | Chg30d=+2.476 | Revisions Net=+0 | Growth EPS=+131.2% | Growth Revenue=+41.4%