JKS Stock Analysis: Jinko Holdings | NYSE
Solar | NYSE, USA | Market Cap: 575m USD | 12M Return: -61.5% | US47759T1007 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.52M
Qual. Beats: 0
Rev. Trend: -92.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
JinkoSolar Holding Co., Ltd. is a vertically integrated Chinese photovoltaic (solar) manufacturer that designs, develops, produces, and markets solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots under the JinkoSolar brand. Beyond component manufacturing, the company provides solar system integration, EPC (Engineering, Procurement, and Construction) services, energy storage systems, and undertakes solar power projects, selling to distributors, project developers, system integrators, and downstream manufacturers. As of December 31, 2025, its integrated annual production capacity stood at 120 GW for mono wafers, 95 GW for solar cells, and 130 GW for solar modules, with operations spanning China, the United States, India, Saudi Arabia, Australia, Pakistan, Brazil, Poland, Japan, Spain, and Germany. The company was founded in 2006 and is headquartered in Guangxin, Peoples Republic of China.
The solar photovoltaic industry sits within the broader renewable energy sector, where manufacturers increasingly pursue vertical integration-spanning polysilicon, ingots, wafers, cells, and modules-to control costs, secure supply, and capture margins across the value chain. Companies like JinkoSolar also extend downstream into project development and EPC services, allowing them to serve both upstream component buyers and end customers seeking turnkey solar installations.
- Module ASPs decline as Chinese solar supply exceeds demand
- US tariffs and import restrictions pressure shipment margins
- Overseas manufacturing footprint targets US and Middle East market share
| Net Income: -2.81b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -8.11 > 1.0 |
| NWC/Revenue: 12.33% < 20% (prev 30.16%; Δ -17.83% < -1%) |
| CFO/TA 0.01 > 3% & CFO 1.08b > Net Income -2.81b |
| Net Debt (29.9b) to EBITDA (3.16b): 9.44 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (13.3m) vs 12m ago 1.42% < -2% |
| Gross Margin: 5.87% > 18% (prev 3.18%; Δ 2.69% > 0.5%) |
| Asset Turnover: 46.85% > 50% (prev 43.97%; Δ 2.88% > 0%) |
| Interest Coverage Ratio: -3.38 > 6 (EBIT TTM -4.87b / Interest Expense TTM 1.44b) |
| A: 0.06 (Total Current Assets 62.1b - Total Current Liabilities 55.2b) / Total Assets 116b |
| B: 0.03 (Retained Earnings 3.71b / Total Assets 116b) |
| C: -0.04 (EBIT TTM -4.87b / Avg Total Assets 118b) |
| D: 0.16 (Book Value of Equity 14.4b / Total Liabilities 87.3b) |
| Altman-Z'' = 0.39 = B |
| DSRI: 0.77 (Receivables 14.8b/18.2b, Revenue 55.5b/53.1b) |
| GMI: 0.54 (GM 3.18% / 5.87%) |
| AQI: 1.45 (AQ_t 0.13 / AQ_t-1 0.09) |
| SGI: 1.04 (Revenue 55.5b / 53.1b) |
| TATA: -0.03 (NI -2.81b - CFO 1.08b) / TA 116b) |
| Beneish M = -3.33 (Cap -4..+1) = AA |
As of November 13, 2026, the stock is trading at USD 9.71 with a total of 938,719 shares traded. Over the past week, the price has changed by -5.64%, over one month by +12.51%, over three months by -40.86% and over the past year by -61.47%.
Current recommended Stop Loss: 8.80 (which is 9.4% or 1.3 ATR below the current price).
Jinko Holdings has received a consensus analysts rating of 3.57. Therefore, it is recommended to hold JKS.
- StrongBuy: 3
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 16.8 | 72.7% |
Market Cap CNY = 3.83b (574.5m USD * 6.6707 USD.CNY)
P/E Forward = 6.5274
P/S = 0.0103
P/B = 0.2499
P/EG = 0.1441
Revenue TTM = 55.5b CNY
EBIT TTM = -4.87b CNY
EBITDA TTM = 3.16b CNY
Long Term Debt = 22.6b CNY (from longTermDebt, last quarter)
Short Term Debt = 21.7b CNY (from shortTermDebt, last quarter)
Debt = 52.1b CNY (from shortLongTermDebtTotal, last quarter) + Leases 3.87b
Net Debt = 29.9b CNY (calculated: Debt 52.1b - CCE 22.2b)
Enterprise Value = 33.7b CNY (3.83b + Debt 52.1b - CCE 22.2b)
Interest Coverage Ratio = -3.38 (Ebit TTM -4.87b / Interest Expense TTM 1.44b)
EV/FCF = -15.19x (Enterprise Value 33.7b / FCF TTM -2.22b)
FCF Yield = -6.58% (FCF TTM -2.22b / Enterprise Value 33.7b)
FCF Margin = -4.00% (FCF TTM -2.22b / Revenue TTM 55.5b)
Net Margin = -5.06% (Net Income TTM -2.81b / Revenue TTM 55.5b)
Gross Margin = 5.87% ((Revenue TTM 55.5b - Cost of Revenue TTM 52.2b) / Revenue TTM)
Gross Margin QoQ = 12.27% (prev 4.15%)
Tobins Q-Ratio = 0.29 (Enterprise Value 33.7b / Total Assets 116b)
Interest Expense / Debt = 2.76% (Interest Expense 1.44b / Debt 52.1b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -3.84b (EBIT -4.87b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.12 (Total Current Assets 62.1b / Total Current Liabilities 55.2b)
Debt / Equity = 3.62 (Debt 52.1b / totalStockholderEquity, last quarter 14.4b)
Debt / EBITDA = 9.44 (Net Debt 29.9b / EBITDA 3.16b)
Debt / FCF = -13.46 (negative FCF - burning cash) (Net Debt 29.9b / FCF TTM -2.22b)
Total Stockholder Equity = 15.2b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.37% (Net Income -2.81b / Total Assets 116b)
RoE = -18.53% (Net Income TTM -2.81b / Total Stockholder Equity 15.2b)
RoCE = -12.88% (EBIT -4.87b / Capital Employed (Equity 15.2b + L.T.Debt 22.6b))
RoIC = -4.83% (negative operating profit) (NOPAT -3.84b / Invested Capital 79.6b)
WACC = 2.76% (E(3.83b)/V(55.9b) * Re(10.66%) + D(52.1b)/V(55.9b) * Rd(2.76%) * (1-Tc(0.21)))
Discount Rate = 10.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 73.42 | Cagr: 0.53%
[DCF] Fair Price = unknown (Cash Flow -2.22b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.39 | # QB: 0
Revenue Correlation: -92.41 | Revenue CAGR: -30.82% | SUE: 0.41 | # QB: 0
EPS current Quarter (2027-03-31): EPS=-0.35 | Chg30d=+9.29% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=-3.81 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+56.9% | GrowthRev=-16.0%
EPS next Year (2027-12-31): EPS=0.23 | Chg30d=-66.30% | Revisions=-25% | GrowthEPS=+106.1% | GrowthRev=+42.9%
[Analyst] Revisions Ratio: -50% (up=0, down=3)