JKS · Jinkosolar Holding Co., Ltd. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - |
| Cost of Revenue | $9.16B | $11.26B | $14.03B | $10.27B | $5.36B | $4.44B |
| Gross Profit | $201.71M | $1.38B | $2.68B | $1.78B | $1.04B | $945.85M |
| R&D | $128.25M | $126.11M | $128.43M | $105.08M | $72.43M | $59.65M |
| SG&A | $472.59M | $629.88M | $645.62M | $508.71M | $308.13M | $216.00M |
| Total Operating Expenses | $1.48B | $1.84B | $1.82B | $1.72B | $871.75M | $672.29M |
| D&A | $1.11B | $1.03B | $1.11B | $374.79M | $251.67M | $177.91M |
| Operating Income | ($1.27B) | ($458.22M) | $858.13M | $62.23M | $173.01M | $273.56M |
| Interest Expense | $194.50M | $156.60M | $164.95M | $156.50M | - | - |
| Income Tax | ($317.59M) | $9.51M | $177.51M | $87.76M | $30.46M | $27.34M |
| Net Income | ($635.64M) | $7.47M | $485.56M | $89.97M | $113.14M | $35.31M |
| EPS - Basic | ($3.05) | $0.04 | $2.34 | $0.45 | $0.59 | $0.20 |
| EPS - Diluted | ($3.05) | ($0.17) | $2.15 | $0.45 | $0.31 | ($0.21) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.86B | $3.43B | $2.26B | $1.49B | $1.31B | $1.15B |
| Accounts Receivable | - | - | - | $2.42B | $1.17B | $694.98M |
| Inventory | $2.07B | $1.71B | $2.57B | $2.53B | $2.08B | $1.28B |
| Accounts Payable | - | - | - | $1.50B | $1.07B | $679.92M |
| Current Assets | $9.84B | $9.43B | $11.68B | $9.91B | $7.14B | $5.16B |
| Total Assets | $17.31B | $17.11B | $19.13B | $15.75B | $11.45B | $8.16B |
| Current Liabilities | $7.87B | $7.46B | $11.42B | $9.41B | $7.13B | $4.78B |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $13.36B | $12.42B | $14.41B | $11.84B | $9.21B | $6.17B |
| Stockholders' Equity | $2.25B | $2.73B | $2.84B | $2.37B | $1.73B | $1.53B |
| Retained Earnings | - | - | - | - | - | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $154.71M | $2.31B | $1.95B | ($841.03M) | $67.58M | $90.65M |
| Investing Cash Flow | ($768.95M) | ($397.60M) | ($2.14B) | ($1.78B) | ($1.77B) | ($753.82M) |
| Financing Cash Flow | ($108.50M) | ($858.76M) | $1.22B | $2.90B | $1.89B | $965.10M |
| CapEx | $455.56M | $1.25B | $2.15B | $1.78B | $1.36B | $621.47M |
| Free Cash Flow | ($300.85M) | $1.06B | ($206.17M) | ($2.62B) | ($1.29B) | ($530.82M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | 0.47 | 142.21 | -0.42 | -29.09 | -11.41 | -15.03 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | - | 56.0% | 26.8% | 49.4% | 21.2% | 43.6% |
| Return on assets | -3.7% | 0.0% | 2.5% | 0.6% | 1.0% | 0.4% |
| Return on equity | -28.3% | 0.3% | 17.1% | 3.8% | 6.5% | 2.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.25 | 1.26 | 1.02 | 1.05 | 1.00 | 1.08 |
| Quick ratio | 0.99 | 1.03 | 0.80 | 0.78 | 0.71 | 0.81 |
| Cash ratio | 0.36 | 0.46 | 0.20 | 0.16 | 0.18 | 0.24 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -6.5x | -2.9x | 5.2x | 0.4x | - | - |
| Equity multiplier | 7.70 | 6.28 | 6.74 | 6.65 | 6.60 | 5.33 |
| Liabilities / Assets | 0.77 | 0.73 | 0.75 | 0.75 | 0.80 | 0.76 |
| Efficiency | ||||||
| Asset turnover | - | - | - | - | - | - |
| Inventory turnover | 4.42 | 6.57 | 5.47 | 4.06 | 2.58 | 3.46 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 82d | 56d | 67d | 90d | 142d | 106d |
| Days payable outstanding | - | - | - | 53d | 73d | 56d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | 17.2x | 90.8x | 148.3x | - |
| P / B | 2.4x | 1.9x | 2.9x | 3.5x | 5.5x | 6.9x |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | 3.1x | 3.1x | 15.3x | 19.2x | 21.0x |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -85.4% | -48.6% | 50.7% | 70.4% | 10.5% | 21.2% |
| Operating income growth (YoY) | -177.9% | - | 1278.8% | -64.0% | -36.8% | 10.1% |
| Net income growth (YoY) | - | -98.5% | 439.7% | -20.5% | 220.4% | -72.6% |
| EPS growth (YoY) | -1694.1% | - | 377.8% | 45.2% | - | - |
| EPS CAGR (3y) | - | - | - | -13.7% | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 92.1% | -102.8% | -143.1% | -95.8% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -17.5% | -4.0% | 19.9% | 36.6% | 13.3% | 14.5% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing JinkoSolar Holding Co. against the 5 most active filers in the same SIC group.
Dividends
$1.30/share trailing 12 months · -13.3% YoY
| Ex-date | Per share |
|---|---|
| Jul 2, 2025 | $1.3000 |
| Aug 15, 2024 | $1.5000 |
| Nov 22, 2023 | $1.5000 |