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JinkoSolar
(NYSE:JKS)
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Rating:43Neutral
Price Target:
$9.00
▼(-41.94% Downside)
Action:Reiterated
Date:09/29/26
The score is held down primarily by weak financial performance (recent profitability collapse, elevated leverage, and volatile/negative free cash flow) and a strongly bearish technical setup (price below all key moving averages with negative MACD). Valuation is mixed—an extremely high dividend yield is offset by loss-making earnings (negative P/E). Earnings-call commentary adds some support via technology leadership, shipments/ESS growth plans, and expected cash-flow improvement, but does not fully offset the near-term margin, debt, and market-access pressures.
Positive Factors
High-efficiency module technology
Tiger Neo 5.0's 25.91% mass-production efficiency and output above 700 W support differentiated, higher-value module offerings. Product performance can improve customer and tender competitiveness and help defend product mix as the company scales high-efficiency shipments.
Negative Factors
Severe margin and profitability pressure
Q2 gross margin fell to 4.2% while operating loss margin widened to 11.6%, reflecting lower ASPs, ramp-up costs and credit-loss provisions. Persistent margin pressure would weaken earnings conversion and reduce internally funded capacity for technology and growth.
Read all positive and negative factors
Positive Factors
Negative Factors
High-efficiency module technology
Tiger Neo 5.0's 25.91% mass-production efficiency and output above 700 W support differentiated, higher-value module offerings. Product performance can improve customer and tender competitiveness and help defend product mix as the company scales high-efficiency shipments.
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
$477.96M
Dividend Yield29.92%
Average Volume (3M)841.31K
Price to Earnings (P/E)―
Beta (1Y)0.70
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. Volume798,023
30 Day Avg. Volume841,308
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
$14.33Price Target Upside-7.53% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering4
EPS Forecast (FY)-32.64
Revenue Forecast (FY)$64.06B
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
13.48
Negative
15.97
Negative
19.82
Negative
Market Momentum
-1.23
Negative
25.42
Positive
18.06
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 above the 20-day moving average (MA) of 10.66, above the 50-day MA of 13.48, and below the 200-day MA of 19.82, indicating a bearish trend. The MACD of -1.23 indicates Negative momentum. The RSI at 25.42 is Positive, neither overbought nor oversold. The STOCH value of 18.06 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $18.82B | 10.55 | 18.02% | ― | 23.82% | 38.56% | |
66 Neutral | $185.83M | 1.79 | 57.34% | ― | 141.52% | -1.46% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | $1.96B | -6.88 | -62.50% | ― | 37.91% | 84.96% | |
46 Neutral | $782.17M | -4.13 | -6.62% | ― | -15.70% | -2559.44% | |
43 Neutral | $477.96M | -0.24 | -21.53% | 29.92% | -22.19% | -31.11% | |
42 Neutral | $98.36M | -1.01 | 26.07% | ― | 13.88% | 68.31% |
* Technology Sector Average
JKS
JinkoSolar
9.29
-13.56
-59.35%
CSIQ
Canadian Solar
11.27
-3.93
-25.86%
FSLR
First Solar
172.11
-58.02
-25.21%
SEDG
SolarEdge Technologies
30.87
-5.37
-14.82%
SPWR
SunPower Inc
0.31
-1.68
-84.62%
TOYO
TOYO Co Ltd
4.26
-1.85
-30.28%
JinkoSolar Corporate Events
JinkoSolar Sets October 21, 2026 AGM and Proposes Rebranding as Jinko Holdings Limited
Sep 9, 2026
JinkoSolar Holding Co., Ltd. said on Sept. 9, 2026 that it has scheduled its 2026 annual general meeting for Oct. 21, 2026 in Shanghai, setting an agenda that includes director re-elections and auditor ratification. Shareholders of record as of Se...
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...
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.