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JinkoSolar
(NYSE:JKS)
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Rating:46Neutral
Price Target:
$13.50
▼(-12.90% Downside)
Action:Reiterated
Date:08/27/26
The score is held down primarily by weak recent financial performance (sharp margin/earnings deterioration, volatile/negative free cash flow, and high leverage) and a bearish technical backdrop (below key moving averages with negative MACD). The earnings call adds some offset from scale, product leadership, and improving working-capital/operating cash flow trends, while valuation is mixed due to loss-making results despite a very high dividend yield.
Positive Factors
Technology and Product Leadership
High-efficiency TOPCon products can support differentiated offerings, stronger bankability and better order quality. Continued product innovation may help JinkoSolar defend customer relationships and improve mix as the industry shifts toward higher-output modules.
Negative Factors
Severe Margin and Earnings Pressure
Near-breakeven gross margins and widening operating losses indicate that pricing pressure, elevated ramp costs and credit provisions are overwhelming scale benefits. Persistent industry oversupply or weak ASPs could keep earnings power fragile over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Technology and Product Leadership
High-efficiency TOPCon products can support differentiated offerings, stronger bankability and better order quality. Continued product innovation may help JinkoSolar defend customer relationships and improve mix as the industry shifts toward higher-output modules.
Read all positive factors
JinkoSolar Key Performance Indicators (KPIs)
Any
Total MW Shipments
Measures the total megawatts of solar panels shipped, indicating the company's market reach and demand for its products. A higher number suggests strong sales performance and competitive positioning in the solar industry.
Measures the total megawatts of solar panels shipped, indicating the company's market reach and demand for its products. A higher number suggests strong sales performance and competitive positioning in the solar industry.
Data provided by:
The Fly
The FlyJinkoSolar (JKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$686.54M
Dividend Yield20.58%
Average Volume (3M)655.88K
Price to Earnings (P/E)―
Beta (1Y)0.81
Revenue Growth-22.19%
EPS Growth-31.11%
CountryUS
Employees26,409
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-207.28
Shares Outstanding52,357,338
10 Day Avg. Volume672,117
30 Day Avg. Volume655,884
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.15
Price to Sales (P/S)0.04
P/FCF Ratio-1.06
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$16.75Price Target Upside8.06% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering5
EPS Forecast (FY)-33.82
Revenue Forecast (FY)$65.82B
JinkoSolar Business Overview & Revenue Model
Company Description
JinkoSolar Holding Co., Ltd. and its affiliated companies are primarily involved in the creation, manufacturing, and distribution of photovoltaic goods. Their product portfolio encompasses solar panels, silicon wafers, solar cells, refurbished sil...
How the Company Makes Money
JinkoSolar makes money primarily by selling photovoltaic (PV) products, with revenue largely driven by shipments of solar modules to customers worldwide. Its core revenue stream is the sale of PV modules (finished panels), typically sold under sup...
JinkoSolar Earnings Call Summary
Earnings Call Date:Aug 26, 2026
(Q2-2026)
| Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: the company shows clear technology leadership (TOPCon Tiger Neo 5.0), robust shipment scale in H1, accelerating ESS momentum, strong industry ratings and realized investment gains. However, material near-term financial headwinds persist — revenue down 31% YoY, sequential margin compression (gross margin fell to 4.2%), wider operating loss, reduced cash balances and increased net debt. Management is responding by prioritizing profitability, optimizing geographic and product mix, and trimming near-term volume guidance while continuing capacity buildout and tech investments. On balance the positives around product leadership, capacity roadmap and ESS traction are meaningful but do not fully offset the significant financial and market-access pressures disclosed.Positive Updates
Strong shipment volumes and clear shipment guidance
Q2 module shipments increased sequentially to ~16 GW; first-half shipments totaled 36.9 GW. Company guided full-year 2026 module shipments to 60–70 GW and Q3 shipments to 15–17 GW, with high-efficiency products expected to account for >60% of shipments.
Negative Updates
Significant revenue decline year-over-year
Total revenue in Q2 was $1.82 billion, up 0.9% sequentially but down 31% year-over-year, primarily due to fluctuations in module shipment volumes and market softness.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong shipment volumes and clear shipment guidance
Q2 module shipments increased sequentially to ~16 GW; first-half shipments totaled 36.9 GW. Company guided full-year 2026 module shipments to 60–70 GW and Q3 shipments to 15–17 GW, with high-efficiency products expected to account for >60% of shipments.
Read all positive updates
Company Guidance
Management guided that by year‑end 2026 JinkoSolar expects annual integrated production capacity of ~100 GW (including ~14 GW overseas) and TOPCon 3.0 capacity to exceed 40 GW; it narrowed full‑year module shipment guidance to 60–70 GW with high‑efficiency products comprising over 60% of shipments and indicated near‑term quarterly module shipments of about 15–17 GW (Q2 module shipments were ~16 GW and H1 total shipments were 36.9 GW). They highlighted next‑generation performance (Tiger Neo 5.0 mass‑production efficiency 25.91% and >700 W) and said ESS shipments should more than double year‑over‑year (H1 ESS shipments 3.1 GWh, ~1.5 GWh recognized revenue in H1, >1 GWh in Q2). Financially, management expects operating cash flow to improve versus 2025, a moderate gross‑margin recovery in Q3, continued emphasis on balancing shipment volume, profitability, cash flow and order quality, and only minimal incremental CapEx (management referenced maintenance CapEx potentially in the ~$0.5–1.0 billion range).JinkoSolar Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
35
Negative
Cash Flow
32
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 65.50B | 92.26B | 118.68B | 83.13B | 40.83B |
| Gross Profit | 1.41B | 10.06B | 19.05B | 12.28B | 6.66B |
| EBITDA | 206.79M | 9.22B | 16.85B | 5.82B | 3.73B |
| Net Income | -4.45B | 54.54M | 3.45B | 620.51M | 721.02M |
Balance Sheet | |||||
| Total Assets | 121.10B | 124.88B | 135.83B | 108.66B | 72.98B |
| Cash, Cash Equivalents and Short-Term Investments | 30.45B | 25.98B | 17.08B | 10.35B | 8.47B |
| Total Debt | 53.16B | 47.85B | 56.79B | 47.78B | 37.29B |
| Total Liabilities | 93.51B | 90.64B | 102.30B | 81.66B | 58.70B |
| Stockholders Equity | 15.74B | 19.90B | 20.16B | 16.34B | 11.05B |
Cash Flow | |||||
| Free Cash Flow | -2.22B | 7.48B | -2.02B | -18.05B | -8.22B |
| Operating Cash Flow | 1.08B | 16.85B | 13.83B | -5.80B | 430.65M |
| Investing Cash Flow | -5.38B | -2.90B | -15.16B | -12.27B | -11.31B |
| Financing Cash Flow | -758.71M | -6.27B | 8.64B | 20.02B | 12.02B |
JinkoSolar Technical Analysis
Negative
15.50
Price Trends
16.06
Negative
18.43
Negative
21.41
Negative
Market Momentum
-0.41
Positive
30.93
Neutral
10.82
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JKS, the sentiment is Negative. The current price of 15.5 is below the 20-day moving average (MA) of 15.97, below the 50-day MA of 16.06, and below the 200-day MA of 21.41, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 30.93 is Neutral, neither overbought nor oversold. The STOCH value of 10.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JKS.
JinkoSolar Risk Analysis
JinkoSolar disclosed 85 risk factors in its most recent earnings report. JinkoSolar reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JinkoSolar Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $5.08B | 38.48 | 12.28% | ― | -10.41% | -22.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | $2.04B | -7.43 | -62.50% | ― | 37.91% | 84.96% | |
49 Neutral | $2.20B | 5.30 | 2.46% | ― | 63.23% | ― | |
46 Neutral | $686.54M | -0.35 | -17.23% | 18.78% | -22.19% | -31.11% | |
44 Neutral | $941.73M | -9.26 | -3.60% | ― | -6.56% | -886.40% |
* Technology Sector Average
JKS
JinkoSolar
13.51
-6.93
-33.91%
CSIQ
Canadian Solar
13.98
4.47
47.00%
ENPH
Enphase Energy
39.25
1.67
4.44%
SEDG
SolarEdge Technologies
33.51
0.26
0.78%
RUN
Sunrun
9.06
-7.31
-44.65%
JinkoSolar Corporate Events
JinkoSolar Names Wei Du CEO in Planned Leadership Shift
Aug 26, 2026
On August 26, 2026, JinkoSolar announced a leadership transition in which long-time chief executive officer Xiande Li resigned from the CEO role while retaining his positions as chairman and chair of key board committees. The company emphasized th...
JinkoSolar Sets August 26 Date to Release Q2 2026 Results
Aug 14, 2026
On August 14, 2026, JinkoSolar announced it will release unaudited financial results for the second quarter ended June 30, 2026 before U.S. market open on August 26, 2026. The company’s management will host an earnings conference call and we...
JinkoSolar Declares US$78.5 Million Cash Dividend, Signaling Confidence in Long-Term Growth
Jun 12, 2026
JinkoSolar Holding Co., Ltd., a global leader in clean energy technology, manufactures and distributes solar modules and related solutions to utility, commercial and residential customers across key markets in Asia, the Americas, Europe and the Mi...
JinkoSolar Completes Sale of 75.1% Stake in U.S. Subsidiary
Jun 1, 2026
JinkoSolar announced that its subsidiary JinkoSolar (U.S.) Holding Inc. completed the disposal of a 75.1% equity interest in Jinko Solar (U.S.) Industries Inc. on May 31, 2026. Following the deal, JinkoSolar U.S. Holding retains a 24.9% stake, FH ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.