JinkoSolar Holding Co., Ltd.
- Open
- 12.51
- Day high
- 12.79
- Day low
- 12.12
- Prev close
- 12.45
- Volume
- 461K
- Mkt cap
- $653M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.3
- P/S
- 0.1
- Yield
- 12.04%
- Per share
- $1.50
- ▼Insiders net selling -$264K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
JinkoSolar Holding Co., Ltd. (JKS) is a Energy company listed on NYSE. The stock is down 49% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 2 published research articles covering JKS.
JinkoSolar Holding Co., Ltd. (JKS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
JKS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 26, 2026 | $-0.75 | $-2.53 | -237.3% | $1.8B | -16.0% |
| Apr 29, 2026 | $-1.84 | $-1.52 | +17.5% | $1.8B | -14.9% |
| Mar 25, 2026 | $-0.62 | $-1.77 | -185.9% | $2.9B | +5.2% |
| Nov 17, 2025 | $-2.01 | $-2.30 | -14.2% | $2.3B | -16.1% |
| Sep 26, 2025 | $-2.67 | $0.97 | +136.3% | $2.5B | -5.4% |
| Mar 26, 2025 | $-0.46 | $-1.01 | -119.6% | $1.9B | -37.5% |
| Oct 30, 2024 | $-0.80 | $0.29 | +136.3% | $3.5B | -2.3% |
| Aug 30, 2024 | $0.05 | $0.97 | +1840.0% | $3.3B | -15.4% |
| Mar 20, 2024 | $2.50 | $1.21 | -51.6% | $3.2B | -25.5% |
| Aug 14, 2023 | $1.65 | $3.52 | +113.3% | $4.2B | +6.2% |
| Apr 28, 2023 | $0.37 | $1.53 | +313.5% | $4.4B | +9.0% |
| Mar 10, 2023 | $1.45 | $1.50 | +3.4% | $3.4B | -10.9% |
JKS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Siew Wing Keongdirector | Grant | 10,000 | — |
| Jul 2, 2026 | Siew Wing Keongdirector | Sell | 16,000 | $16.49 |
| Jul 2, 2026 | Markscheid Stephendirector | Grant | 10,000 | — |
| May 20, 2026 | Markscheid Stephendirector | Sell | 2,000 | $25.00 |
| May 19, 2026 | Markscheid Stephendirector | Buy | 2,000 | $25.00 |
| May 15, 2026 | LI XIANHUAdirector | Sell | 1,280,000 | $25.53 |
| May 15, 2026 | Siew Wing Keongdirector | Sell | 16,000 | $26.11 |
| May 4, 2026 | Li Mengmengofficer: Chief Financial Officer | Grant | 2,856 | — |
| May 4, 2026 | LI XIANDEdirector, officer: Chief Executive Officer | Grant | 1,777,142 | — |
| May 4, 2026 | LI XIANHUAdirector | Grant | 771,428 | — |
| May 4, 2026 | Cao Haiyundirector | Grant | 354,285 | — |
Source: JKS SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full JKS insider & 13F page →JKS research & analysis
JinkoSolar Holding Co., Ltd. company profile
Overview
JinkoSolar Holding Co., Ltd. (NYSE:JKS) is a Chinese solar technology company founded in 2006 and headquartered in Shangrao, China. The company went public on the New York Stock Exchange in May 2010. JinkoSolar has grown to become one of the world's largest solar panel manufacturers, achieving global leadership in module shipments and establishing manufacturing operations across multiple continents including China, the United States, Mexico, and various other international markets.
Business
JinkoSolar operates in the photovoltaic (PV) solar energy industry, which involves converting sunlight into electricity through semiconductor technology. The solar industry is part of the broader renewable energy sector that has experienced rapid growth as countries and companies seek alternatives to fossil fuels for electricity generation. The company's core business revolves around the solar photovoltaic value chain, which includes several key components. Solar panels, also called modules, are made up of multiple solar cells that contain silicon wafers - thin slices of purified silicon that actually convert sunlight into electricity through the photovoltaic effect. JinkoSolar manufactures all these components in an integrated production process. JinkoSolar's primary products include: 1. Solar modules (solar panels) - These are the final products that customers install to generate electricity. The company's flagship product line is the Tiger Neo series, which uses advanced N-type TOPCon (Tunnel Oxide Passivated Contact) technology. These modules represent approximately 85-95% of the company's current shipments and offer higher efficiency compared to older P-type technology. 2. Solar cells - The individual units within modules that convert sunlight to electricity. JinkoSolar has achieved mass-production cell efficiency exceeding 26%, with laboratory results reaching over 34% using advanced perovskite tandem technology. 3. Silicon wafers and ingots - The raw semiconductor materials from which solar cells are manufactured. 4. Energy Storage Systems (ESS) - A growing business segment that provides battery storage solutions to complement solar installations, allowing users to store excess solar energy for later use. The solar module business represents the vast majority of JinkoSolar's revenue, accounting for approximately 92-94% of total shipments. The company also provides solar system integration services and develops commercial solar power projects, though these represent smaller portions of the overall business.
Revenue model
JinkoSolar generates revenue primarily through product sales of solar modules, cells, wafers, and energy storage systems to a diverse customer base including distributors, project developers, system integrators, and solar equipment manufacturers. The company operates on a traditional manufacturing business model where it produces physical products and sells them at a markup over production costs. The company's customers span multiple market segments. Distributors purchase products in bulk for resale to smaller installers and end customers. Project developers buy modules for large-scale solar farms and utility projects. System integrators incorporate JinkoSolar's products into complete solar installations for residential, commercial, and industrial customers. The geographic revenue split shows approximately 60% from overseas markets and 40% from domestic Chinese sales. Several factors significantly impact JinkoSolar's profitability margins. Polysilicon prices represent a major cost component, and volatility in these raw material prices directly affects gross margins. The company has experienced margin compression when polysilicon costs rise faster than module selling prices. Technology transitions also influence margins - JinkoSolar's shift from older P-type to higher-efficiency N-type technology has enabled premium pricing, though the transition requires significant capital investment. Supply-demand dynamics in the global solar market heavily influence pricing power. Periods of oversupply lead to price competition and margin pressure, while strong demand growth can support better pricing. The company has experienced significant margin volatility, with gross margins ranging from 11% in challenging periods to 16% during more favorable market conditions. Manufacturing scale and integration provide cost advantages, as JinkoSolar's large production volumes enable economies of scale in procurement and operations. The company's integrated manufacturing model, controlling the entire value chain from silicon ingots to finished modules, helps optimize costs and quality control compared to companies that rely on external suppliers for key components.
Competitive moat
JinkoSolar's competitive moat is moderate but vulnerable to industry dynamics and technological shifts. The company's primary competitive advantages stem from manufacturing scale, technological leadership, and global market presence. The company's scale advantages are significant, with annual production capacity exceeding 90 gigawatts for modules and integrated manufacturing across the entire solar value chain. This scale enables cost efficiencies in procurement, manufacturing, and R&D investments that smaller competitors cannot match. JinkoSolar has maintained global leadership in module shipments, achieving over 300 gigawatts of cumulative shipments. Technological differentiation provides a temporary moat through the company's N-type TOPCon technology leadership. JinkoSolar holds over 460 granted TOPCon patents and has achieved industry-leading cell efficiencies exceeding 26% in mass production. The company's early transition from P-type to N-type technology has provided a competitive advantage, though this technology gap may narrow as competitors catch up. However, the solar industry's fundamental commodity nature limits the durability of competitive advantages. Solar modules are largely standardized products where price competition is intense. The industry has historically experienced cycles of oversupply that compress margins across all manufacturers regardless of scale or technology advantages. Geographic diversification provides some protection, with JinkoSolar's global manufacturing footprint and market presence reducing dependence on any single region. The company's overseas manufacturing facilities help navigate trade restrictions and tariffs that affect China-based solar manufacturers. The primary competitive threats come from other large-scale Chinese manufacturers with similar cost structures and technological capabilities, as well as potential disruptive technologies that could obsolete current silicon-based solar technology. Trade restrictions and tariffs also pose ongoing challenges to the company's global market access, particularly in key markets like the United States.
Risks & safety
JinkoSolar presents moderate financial risk with adequate liquidity but elevated debt levels and cyclical earnings volatility. • Liquidity position: Cash and short-term investments of $3.77 billion provide substantial liquidity buffer, with current ratio of 1.33 indicating ability to meet short-term obligations • Debt burden: Total debt of $6.4 billion creates significant leverage with debt-to-equity ratio of 1.85, though asset-liability ratio of 74% remains manageable for a capital-intensive manufacturing business • Earnings volatility: Net income swings from $485 million profit in 2023 to $182 million loss in Q1 2025 demonstrate cyclical earnings patterns typical of commodity-like solar industry • Valuation metrics: Trading at 0.09x price-to-book ratio suggests potential value, though negative earnings in recent quarters make P/E ratios less meaningful • Cash flow concerns: Historical negative free cash flows indicate capital intensity, though company targets positive operating cash flow going forward • Industry cyclicality: Solar industry's boom-bust cycles create ongoing uncertainty around demand, pricing, and profitability sustainability
Recent development
Over the past few years, JinkoSolar has executed several key strategic initiatives focused on technology leadership and geographic diversification. The company's most significant development has been the transition from P-type to N-type TOPCon technology, with N-type modules now representing 85-95% of total shipments compared to approximately 60% in 2023. This technology shift has enabled higher module efficiency and premium pricing despite industry-wide margin pressure. The company has pursued aggressive international expansion to reduce dependence on the Chinese market and navigate trade restrictions. JinkoSolar established a strategic partnership for 10 gigawatts of solar cell and module production capacity in Saudi Arabia, expanded manufacturing in Southeast Asia, and maintained operations across multiple continents. This geographic diversification strategy aims to serve global markets while mitigating trade-related risks. Capacity expansion and optimization has been another focus area, with the company reaching integrated annual capacity of 40 gigawatts for wafers, 40 gigawatts for solar cells, and 50 gigawatts for modules by 2022. However, given current market conditions, JinkoSolar has adopted a more cautious approach to further capacity expansion, focusing on optimizing existing facilities rather than aggressive growth. The company has also diversified into energy storage systems, shipping over 300 megawatt hours in Q1 2025 with targets to reach 6 gigawatt hours for the full year. This represents an early-stage effort to expand beyond traditional solar modules into complementary energy storage solutions. Recent financial strategy changes include plans to initiate shareholder returns through dividend payments and share buybacks, with at least $100 million allocated for these programs. This marks a shift from pure growth investment toward returning capital to shareholders as the company matures.
JKS company profile · for informational purposes only — not investment advice.
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