JinkoSolar Co. Ltd. A (688223) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of JinkoSolar Co. Ltd. A ¥6.47, price ¥3.75, upside +72.5%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
56‑month range ¥3.74 – ¥18.30 · fair‑value band ¥4.92 – ¥8.01 · the ¥3.75 price screens below the ¥6.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 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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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. 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 ¥3.75, while our model-based Fair Value estimate is ¥6.47, implying the stock looks roughly 42.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥6.47 per share, and 1 of the 4 models we run sit above the ¥3.75 price.
Bear case: the Dividend Discount group reads lowest at ¥0.7300, and 3 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥4.92 (bear) to ¥8.01 (bull), the price of ¥3.75 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 36/100 (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 46.8B CNY (≈ $7.0B) · P/S ratio 0.73 · EPS (TTM) ¥−0.6800 · Dividend yield 1.7% · Net margin −10.5% · Return on equity −22.4% · Return on assets (EBIT) 3.0% · Operating margin −2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).
What moves the price
The share trades about 56% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 8% fair-value upside, at 73%, 688223 screens cheaper than that median.
Fair Value models
Bear ¥4.92Fair Value ¥6.47Bull ¥8.01
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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%
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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
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 · 113 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score36 · Below median
Fair Value upside+73% · Top 25%
Profitability
Return on assets−3% · Below median
Net margin (TTM)−11% · Below median
Operating margin (TTM)−2% · Below median
Growth and dividend
Revenue growth−12% · Below median
Dividend yield (TTM)1.7% · Above median
Balance sheet
Debt / equity0.96× · Highest 25%
Valuation Multiplesvs Solar median · lower = cheaper
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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 Sep 24, 2026, our model estimates a fair value of ¥6.47 versus a price of ¥3.75, about +73% upside (undervalued).
What is the fair value of 688223?
Our model-based fair value for JinkoSolar Co. Ltd. A is ¥6.47 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥3.75.
What is the quality score of 688223?
JinkoSolar Co. Ltd. A has a Quality Score of 36/100. 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 ¥6.47 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario ¥4.92, optimistic scenario ¥8.01. 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 ¥6.47, about +73% upside versus a price of ¥3.75 (undervalued). Cautious scenario ¥4.92, optimistic scenario ¥8.01. 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 63.9B CNY (latest available figure, as of Sep 24, 2026).
Does JinkoSolar Co. Ltd. A pay a dividend?
JinkoSolar Co. Ltd. A currently shows a dividend yield of about 1.66% relative to its recent price (as of Sep 24, 2026).
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 ¥6.47 per share (as of Sep 24, 2026), against a price of ¥3.75. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is JinkoSolar Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 688223 trades below its calculated fair value: price ¥3.75, fair value ¥6.47, a gap of about +73% (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 (¥3.75); the fair value is what the company's own numbers justify (¥6.47). For JinkoSolar Co. Ltd. A the two are ¥2.72 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 46.8B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥3.75; our models calculate a fair value of ¥6.47 per share.
What do the bullish and bearish scenarios say about 688223?
Our models span a range for JinkoSolar Co. Ltd. A: cautious scenario ¥4.92, base ¥6.47, optimistic ¥8.01 per share (as of Sep 24, 2026, price ¥3.75). 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 Sep 24, 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 Sep 24, 2026): return on equity −22.4%, debt of 0.96 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 688223 from its 52-week high?
JinkoSolar Co. Ltd. A trades at ¥3.75, about 56% below its 52-week high of ¥8.54 and at the low of ¥3.74 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.47 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 Sep 24, 2026: price ¥3.75, calculated fair value ¥6.47 (+73%), Quality Score 36/100, from 4 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 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥6.47, 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 14.0 % above its aggregate fair value. JinkoSolar Co. Ltd. A currently trades 73 % 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 Sep 24, 2026 was ¥3.75. Our model-based fair value is ¥6.47, about +73% 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 (36/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥4.92). 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 46.8B CNY (≈ $7.0B). 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 0.73 (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 ¥−0.6800. 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 1.7%. 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 −10.5% (fiscal year 2025). 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 −22.4% (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 −2.2% (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 −11.5% 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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