JinkoSolar Co. Ltd. A (688223) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of JinkoSolar Co. Ltd. A stock ¥6.49, price ¥4.22, upside +53.8%, quality 32 out of 100. Rating: strongly undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
57‑month range ¥3.62 – ¥18.30 · fair‑value band ¥4.93 – ¥8.04 · the ¥4.22 price screens below the ¥6.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Jinko Solar Co., Ltd. engages in the research, development, manufacturing, and sale of photovoltaic products and clean energy solutions in China, Europe, America, the Asia Pacific, and internationally.
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The company offers Tiger Neo 3.0, a photovoltaic module for power generation; liquid cooling energy storage system; and energy solutions, such as residential house roof, industrial and commercial distribution, and surface power plants, as well as half-cell and bifacial technology.
It also provides silicon wafers, pulling rods, and batteries; photovoltaic cells; and battery components. It exports its products. The company was founded in 2006 and is headquartered in Shanghai, China. Jinko Solar Co., Ltd. is a subsidiary of JinkoSolar Investment Limited.
Stock analysis
JinkoSolar Co. Ltd. A (688223) currently trades at ¥4.22, while our model-based Fair Value estimate is ¥6.49, implying the stock looks roughly 35% undervalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 93/100, which puts the data coverage at low.
Scenario range: ¥4.93 (bear) to ¥8.04 (bull), the price of ¥4.22 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 32/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
JinkoSolar Co. Ltd. A reported revenue of 65.5B CNY in FY2025 versus 40.6B CNY in FY2021, a compound +12.7%/yr. Reported net income was −6.9B CNY in FY2025.
Key figures
Market cap 42.2B CNY (≈ $6.3B) Mid · P/S ratio 0.69 · EPS (TTM) ¥−0.7100 · Dividend yield 1.9% · Net margin −12.1% · Return on equity −24.3% · Return on assets (EBIT) 3.0% (5-year average) · Operating margin −15.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (medium confidence).
What moves the price
The share trades about 51% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 54%, 688223 screens cheaper than that median.
Fair Value models
Bear¥4.93Fair Value ¥6.49Bull¥8.04
Price ¥4.22 · Upside +53.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.38/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−29.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.2%
’19
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
7.8% (2020) → −7.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
News mood ⓘNews mood, the average tone of recent news (23 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Margin gains via storage revenue and premium modules form the main strength, while negative returns and volume weakness in a commoditized solar business remain the central weakness.
Main risk: Overcapacity at peers such as LONGi, Trina Solar and Tongwei could sustain low module prices and pressure JinkoSolar's margins and volumes.
Bull case: JinkoSolar could strengthen its position in premium efficient modules and integrated solar-storage solutions for AI data centers to offset volume pressure from rivals.
Bear case: Persistent overcapacity and rival price competition combined with trade barriers could force further volume cuts, margin erosion or capacity rationalization across the core module business.
JinkoSolar lifted its gross margin to 12.3 percent in the third quarter through cost cuts, a higher share of efficient modules and rising energy storage revenue, even as module shipments fell 25 percent year over year. Our models see the shares as undervalued, yet the core solar business still contends with lower volumes amid industry overcapacity. Will the margin gains from storage and premium products hold up if module shipments stay under pressure?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Solar · 97 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score32 · Below median
Fair Value upside+48.2% · Top 25%
Profitability
Return on assets−5.8% · Below median
Net margin (12 months)−12.1% · Below median
Operating margin (12 months)−15.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−30.6% · Bottom 25%
Dividend yield (12 months)1.9% · Above median
Balance sheet
Debt / equity0.96× · Highest 25%
Valuation Multiplesvs Solar median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "JinkoSolar Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688223
Frequently asked questions
Is JinkoSolar Co. Ltd. A (688223) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ¥6.49 versus a price of ¥4.22, about +54% upside (undervalued).
What is the fair value of 688223?
Our model-based fair value for JinkoSolar Co. Ltd. A is ¥6.49 (as of Nov 8, 2026), built from audited fundamentals. The current price: ¥4.22.
What is the quality score of 688223?
JinkoSolar Co. Ltd. A has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JinkoSolar Co. Ltd. A (688223)?
Our model-based price target is the fair value of ¥6.49 (as of Nov 8, 2026) from 2 valuation models. Cautious scenario ¥4.93, optimistic scenario ¥8.04. It is a calculation from audited fundamentals, not an analyst target.
What is the JinkoSolar Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥6.49, about +54% upside versus a price of ¥4.22 (undervalued). Cautious scenario ¥4.93, optimistic scenario ¥8.04. The calculation is refreshed regularly with new filings.
What is the revenue of JinkoSolar Co. Ltd. A (688223)?
JinkoSolar Co. Ltd. A reported trailing-twelve-month revenue of about 58.4B CNY (latest available figure, as of Nov 8, 2026).
Does JinkoSolar Co. Ltd. A pay a dividend?
JinkoSolar Co. Ltd. A currently shows a dividend yield of 1.94% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of JinkoSolar Co. Ltd. A (688223)?
JinkoSolar Co. Ltd. A has a dividend yield of 1.9%.
What is the intrinsic value of JinkoSolar Co. Ltd. A (688223)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JinkoSolar Co. Ltd. A it is ¥6.49 per share (as of Nov 8, 2026), against a price of ¥4.22. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is JinkoSolar Co. Ltd. A stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 688223 trades below its calculated fair value: price ¥4.22, fair value ¥6.49, a gap of about +54% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688223?
No. The price is what the market pays today (¥4.22); the fair value is what the company's own numbers justify (¥6.49). For JinkoSolar Co. Ltd. A the two are ¥2.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is JinkoSolar Co. Ltd. A worth?
The market values JinkoSolar Co. Ltd. A at about 42.2B CNY (market capitalisation, as of Nov 8, 2026). Per share that is ¥4.22; our models calculate a fair value of ¥6.49 per share.
What do the bullish and bearish scenarios say about 688223?
Our models span a range for JinkoSolar Co. Ltd. A: cautious scenario ¥4.93, base ¥6.49, optimistic ¥8.04 per share (as of Nov 8, 2026, price ¥4.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 688223?
The PEG ratio of JinkoSolar Co. Ltd. A is 0.19 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of JinkoSolar Co. Ltd. A (688223)?
Balance-sheet figures for JinkoSolar Co. Ltd. A (as of Nov 8, 2026): return on equity −24.3%, debt of 0.96 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 688223 from its 52-week high?
JinkoSolar Co. Ltd. A trades at ¥4.22, about 51% below its 52-week high of ¥8.54 and 17% above the low of ¥3.62 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.49 is for.
Which stocks are comparable to JinkoSolar Co. Ltd. A?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is JinkoSolar Co. Ltd. A stock attractive at the current price?
The data as of Nov 8, 2026: price ¥4.22, calculated fair value ¥6.49 (+54%), Quality Score 32/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688223 calculated?
We run JinkoSolar Co. Ltd. A through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of ¥6.49 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. JinkoSolar Co. Ltd. A currently trades 35% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of JinkoSolar Co. Ltd. A (688223)?
The closing price on Nov 9, 2026 was ¥4.22. Our model-based fair value is ¥6.49, about +54% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JinkoSolar Co. Ltd. A right now?
The large discount to fair value meets weak quality (32/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥4.93). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of JinkoSolar Co. Ltd. A
How large is the market capitalisation of JinkoSolar Co. Ltd. A (688223)?
The market capitalisation of JinkoSolar Co. Ltd. A is 42.2B CNY (≈ $6.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JinkoSolar Co. Ltd. A (688223)?
The price-to-sales ratio of JinkoSolar Co. Ltd. A is 0.69 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JinkoSolar Co. Ltd. A (688223)?
Earnings per share at JinkoSolar Co. Ltd. A are ¥−0.7100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of JinkoSolar Co. Ltd. A (688223)?
The dividend yield of JinkoSolar Co. Ltd. A is 1.9%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of JinkoSolar Co. Ltd. A (688223)?
The net margin of JinkoSolar Co. Ltd. A is −12.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of JinkoSolar Co. Ltd. A (688223)?
The return on equity (ROE) of JinkoSolar Co. Ltd. A is −24.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of JinkoSolar Co. Ltd. A (688223)?
On an EBIT basis the return on assets of JinkoSolar Co. Ltd. A is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of JinkoSolar Co. Ltd. A (688223)?
The operating margin of JinkoSolar Co. Ltd. A is −15.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JinkoSolar Co. Ltd. A (688223)?
Revenue at JinkoSolar Co. Ltd. A is growing −30.6% versus a year earlier (3y avg −7.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does JinkoSolar Co. Ltd. A (688223) generate?
The free cash flow of JinkoSolar Co. Ltd. A is −852M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Thin data
Nov 8, 2026