Logo

JKS

JinkoSolar Holding Co., Ltd.

JKS

JinkoSolar Holding Co., Ltd. • NYSE
$26.14 ▲ 1.67% (+0.43)
Market Cap $337.55 M
52w High $31.88
52w Low $13.42
Dividend Yield 1.28%
P/E -2.82
Volume 176.58K
Outstanding Shares 12.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $16.158B ▲ $2.587B ▲ $-749.786M ▲ -4.64% ▲ $-57.28 ▲ $-980.696M ▲
Q1-2025 $13.844B ▼ $2.512B ▼ $-1.319B ▼ -9.527% ▼ $-102.32 ▼ $-2.369B ▼
Q4-2024 $20.651B ▼ $2.732B ▼ $-476.737M ▼ -2.309% ▼ $-62.04 ▼ $-947.084M ▼
Q3-2024 $24.508B ▲ $3.78B ▼ $22.532M ▲ 0.092% ▲ $1.76 ▲ $458.57M ▲
Q2-2024 $24.053B $3.815B $-100.653M -0.418% $-7.72 $185.84M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $23.44B ▼ $120.842B ▼ $90.726B ▲ $17.096B ▼
Q1-2025 $27.383B ▼ $122.251B ▼ $90.634B ▲ $18.403B ▼
Q4-2024 $27.738B ▲ $124.88B ▼ $90.56B ▼ $19.869B ▼
Q3-2024 $22.371B ▲ $130.216B ▲ $95.357B ▲ $20.118B ▼
Q2-2024 $13.87B $128.646B $95.185B $20.62B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-749.786M ▲ $0 $0 $0 $0 $0
Q1-2025 $-1.319B ▼ $0 $0 $0 $0 $0
Q4-2024 $-473.73M ▼ $0 $0 $0 $0 $0
Q3-2024 $22.532M ▲ $0 $0 $0 $0 $0
Q2-2024 $-100.653M $0 $0 $0 $0 $0

Revenue by Products

Product Q3-2017Q4-2017Q3-2020Q4-2020
Generated Electricity
Generated Electricity
 $10.00M ▲$0 ▼$70.00M ▲$30.00M ▼
Sales Of Solar Projects
Sales Of Solar Projects
 $0 ▲$0 ▲$1.20Bn ▲$0 ▼
Silicon Wafers
Silicon Wafers
 $360.00M ▲$0 ▼$310.00M ▲$140.00M ▼
Solar Cells
Solar Cells
 $340.00M ▲$0 ▼$210.00M ▲$130.00M ▼
Solar Modules
Solar Modules
 $19.41Bn ▲$0 ▼$23.91Bn ▲$8.64Bn ▼
Recovered Silicon Materials
Recovered Silicon Materials
 $0 ▲$0 ▲$0 ▲$0 ▲
Solar System Epc
Solar System Epc
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past few years, but 2024 shows a clear slowdown with a noticeable drop in sales and profitability. Gross profit has been squeezed, and the company moved from positive operating profit in recent years to an operating loss in 2024, suggesting intense price pressure and higher costs. Net earnings have been very volatile, swinging from solid profits to being close to breakeven, which underlines how cyclical and competitive the solar module business is. Overall, growth has come with significant earnings instability and margin compression.

Balance Sheet

Balance Sheet The balance sheet shows a company that has expanded rapidly, with total assets rising meaningfully over several years. Debt remains sizeable, though it has started to come down from its peak, while equity has steadily grown, which points to some buildup of underlying shareholder value despite volatility. Cash levels have improved, giving the company a better liquidity cushion than in the past, but the business is still capital intensive and relies on substantial financing. The overall picture is of a large, asset-heavy manufacturer with meaningful leverage but gradually strengthening capital base.

Cash Flow

Cash Flow Operating cash flow has improved over time and turned decisively positive in recent years, indicating that the core business can generate cash even when accounting profits are choppy. However, heavy ongoing investment in factories and equipment has kept free cash flow weak or negative for much of the period, only recently turning positive as investment slowed relative to cash generation. This pattern suggests an emphasis on capacity expansion and technology upgrades, which can support future competitiveness but also weighs on near‑term financial flexibility. Cash discipline and the ability to fund growth without overstraining the balance sheet will remain important watch points.

Competitive Edge

Competitive Edge JinkoSolar is one of the global leaders in solar modules, with strong scale, a well‑known brand, and a broad international footprint. Its high degree of vertical integration—from wafers to finished modules—helps control costs and quality and can be an advantage in a low‑margin industry. The company’s reputation as a bankable supplier makes it a preferred partner for large projects, but it still operates in a fiercely competitive, price‑driven market that is sensitive to policy changes and trade actions. Overall, it appears competitively strong within a tough, commodity‑like industry where maintaining cost leadership is critical.

Innovation and R&D

Innovation and R&D The company invests heavily in advancing solar cell efficiency, especially around N‑type TOPCon technology, and holds a large portfolio of related patents, signaling genuine technological leadership. Its flagship high‑efficiency module lines and work on bifacial, smart, and next‑generation tandem cells show a clear push to stay at the cutting edge. JinkoSolar is also branching into energy storage and building‑integrated solar solutions, which could diversify revenue and deepen customer relationships over time. The main risk is execution: the solar technology landscape evolves quickly, so continued R&D success and commercialization at scale are essential to maintain its edge.

Summary

JinkoSolar combines global scale, vertical integration, and strong technology with very challenging industry dynamics. Financially, it has grown rapidly but with thin and volatile profits, recent margin pressure, and a heavy reliance on capital investment and debt to build capacity. Its balance sheet and cash generation have improved, yet the business remains exposed to pricing cycles, policy shifts, and the need for ongoing high investment. On the positive side, its innovation around high‑efficiency modules and energy storage, together with its established brand and global presence, provides a solid platform if it can navigate industry volatility and continue converting technical leadership into stable, durable earnings.

NEWS

November 17, 2025 · 7:04 AM UTC

JinkoSolar Announces Second and Third Quarter 2025 Financial Results

Read more

November 17, 2025 · 12:01 AM UTC

JinkoSolar Schedules 2025 Annual General Meeting to be Held on December 29, 2025

Read more

October 30, 2025 · 6:50 AM UTC

JinkoSolar's Subsidiary, Jinko Solar Co., Ltd., Announces Third Quarter 2025 Unaudited Financial Results

Read more

October 27, 2025 · 7:00 AM UTC

JinkoSolar Supplied Modules to Trinity Energy for Costco Warehouse in Washington State

Read more

October 10, 2025 · 6:00 AM UTC

JinkoSolar to Report Second and Third Quarter 2025 Results on November 17, 2025

Read more