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JinkoSolar Holding Company Limited (JKS) Fair Value & Analysis

Technology · US · Market cap $891M · ISIN US47759T1007

What is JinkoSolar Holding Company Limited really worth?

JH JinkoSolar Holding Company Limited logo JinkoSolar Holding Company Limited JKS · US
Price$12.19
Fair Value$22.96
Upside+88.4%
Quality31/100

Below-average quality, trading 47% below our fair value of $22.96.

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Risks

!Weak Growth (revenue 5y +13.3 %/yr)
!Loss-making · -5.6% net margin
!High debt · negative free cash flow
!Mixed vs. peers (6/13)
!Narrow moat 1/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 15 out of 100

For context

·8.82% dividend yield
Evidence: Medium Range $11.81 – $33.89

Fair value as of: Aug 29, 2026

From 5 valuation models · updated 6 days ago

Fair value updated Aug 29, 2026, revised from $22.99 to $22.96 (−0.1%) since Aug 27, 2026. Share price −23.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide ($11.81 to $33.89). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

$57.60 $11.96 Fair Value $22.96 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $11.96 – $57.60 · fair‑value band $11.81 – $33.89 · the $12.19 price screens below the $22.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

JinkoSolar Holding Company Limited (JKS) currently trades at $12.19, while our model-based Fair Value estimate is $22.96, implying the stock looks roughly 46.9% undervalued today. The Quality Score stands at 31/100 (below-average quality), in the Technology sector. Bull case: the Multiples group reads highest at a median of $22.96 per share, and 1 of the 5 models we run sit above the $12.19 price. Bear case: the DCF Models group reads lowest at $2.72, and 4 of the 5 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, JinkoSolar Holding Company Limited generated revenue of $63.9B at a net margin of −5.6%. Revenue declined 11.5% year over year. It earns a return on equity of −19.2%. Net debt stands at $30.2B. Fundamentals as of Aug 29, 2026

Our scenario range runs from $11.81 (bear case) to $33.89 (bull case); at $12.19, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 62% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at 88%, JKS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

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
Highest evidence
Owner Earnings best evidence $2.72 $8.08 71
EV/EBITDA $16.50 $22.96 $29.42 67
Gordon GGM $2.81 $5.06 $6.96 66
All 5 models by family
DCF Models
Owner Earnings best evidence $2.72 $8.08 71
Dividend Discount
Gordon GGM $2.81 $5.06 $6.96 66
DDM Multi-Stage $2.81 $4.62 $5.40 65
Multiples
EV/EBITDA $16.50 $22.96 $29.42 67
Asset-Based
NCAV (Graham) $5.84 $7.82 $11.67 54

Widest divergence: Multiples ($22.96) versus DCF Models ($2.72). Highest evidence: Owner Earnings (71).

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Key figures & financial health

EPS (TTM) $−10.12
Dividend yield 8.8%
Net margin −6.8% FY2025
Return on equity −19.2% TTM
Return on assets (EBIT) −0.3% avg 5y
Operating margin −4.8% TTM
More key figures
Growth
Revenue (TTM) $63.9B TTM
Revenue growth (YoY) −11.5% 3y avg −7.6%
EPS growth (YoY) −97.6%
Balance sheet & cash flow
Free cash flow −$2.2B FY2025
Net debt $30.2B FY2025

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 31/100

Of which business quality 30 · Market factors (momentum, volatility) 16

Profitability 8
Margins and returns on capital today
Quality Growth 3
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 3
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 94
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company provides solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

Full company description

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company provides solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It offers solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects. The company sells its products to distributors, project developers, system integrators, and manufacturers of solar power products under the JinkoSolar brand. As of December 31, 2025, it had an integrated annual capacity of 120 gigawatts (GW) for mono wafers; 95 GW for solar cells; and 130 GW for solar modules. It operates in China, the United States, India, Saudi Arabia, Australia, Pakistan, Brazil, Poland, Japan, Spain, and Germany. The company was founded in 2006 and is headquartered in Guangxin, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JinkoSolar Holding Company Limited reported revenue of 65.5B CNY in FY2025 versus 40.8B CNY in FY2021, a compound +12.5%/yr. Reported net income was −4.4B CNY in FY2025.

Growth Quality 37/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$65.5B
Latest YoY
−29.0%
Avg. revenue growth/yr (3Y) 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.
−7.6%
Avg. revenue growth/yr (5Y) 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.
+13.3%
Avg. revenue growth/yr (19Y) 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.
+39.7%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +12.5%/yr
FY21 40.8B CNY
FY22 83.1B CNY
FY23 119B CNY
FY24 92.3B CNY
FY25 65.5B CNY
Net income
FY21 721M CNY
FY22 621M CNY
FY23 3.4B CNY
FY24 54.5M CNY
FY25 −4.4B CNY

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Cite: Fair Value Calculator (2026). "JinkoSolar Holding Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/JKS

Peer Group

Solar · 114 stocks

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.

Quality Score 31 · Bottom 25%
Fair Value upside +88% · Top 25%
Return on assets −3% · Below median
Net margin (TTM) −6% · Below median
Operating margin (TTM) −5% · Below median
Revenue growth −12% · Below median
Dividend yield (TTM) 8.8% · Top 25%
Debt / equity 1.70× · Higher than 75% of peers

Valuation Multiples vs Solar median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
EV/EBITDA 1.6× · Cheaper than 75% of peers
PEG 0.14× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 20
FUTURE0 · sector 0
PAST0 · sector 0
HEALTH15 · sector 85
DIVIDEND100 · sector 30

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $210.10 $392.12 +87%
Nextpower Inc NXT $103.67 $69.61 −33%
Waaree Energies Limited WAAREEENER ₹2,624 ₹2,709 +3%
Tongwei Co 600438 ¥12.89 ¥12.13 −6%
Enphase Energy, Inc ENPH $39.25 $24.15 −38%
CSI Solar Co 688472 ¥10.28 ¥6.76 −34%
Hengdian Group 002056 ¥21.53 ¥31.86 +48%
Premier Energies Limited PREMIERENE ₹1,017 ₹648.94 −36%
Trina Solar Co 688599 ¥12.77 ¥7.97 −38%
JA Solar Technology Co 002459 ¥6.81 ¥3.32 −51%

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Frequently asked questions

Is JinkoSolar Holding Company Limited (JKS) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $22.96 versus a price of $12.19, about +88% upside (undervalued).
What is the fair value of JKS?
Our model-based fair value for JinkoSolar Holding Company Limited is $22.96 (as of Aug 29, 2026), built from audited fundamentals. The current price: $12.19.
What is the quality score of JKS?
JinkoSolar Holding Company Limited has a Quality Score of 31/100. 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 revenue of JinkoSolar Holding Company Limited (JKS)?
JinkoSolar Holding Company Limited reported trailing-twelve-month revenue of about $63.9B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of JKS?
The net profit margin of JinkoSolar Holding Company Limited is about −5.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does JinkoSolar Holding Company Limited pay a dividend?
JinkoSolar Holding Company Limited currently shows a dividend yield of about 8.82% relative to its recent price (as of Aug 29, 2026).
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