JKS

MKT CAP:$291M

JinkoSolar Holding Co., Ltd.

Market Cap

$291M

Energy·Solar·🇨🇳 China·NYSE

Energy·Solar·🇨🇳·NYSE

Stock Price

$22.96-$4.98 (-17.82%)

Apr 23, 2026

Company Details

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

CEO

Xiande Li

IPO Date

May 14, 2010

Website

www.jinkosolar.com

Key Metrics TTM

Revenue

$9.5B

-37.7% YoY

Net Income

-$645M

EPS (Diluted)

-$49.54

Free Cash Flow

$0

Revenue / Share

$726.52

Gross Margin

2.2%

Operating Margin

-11.9%

Net Margin

-6.8%

FCF Margin

0.0%

P/S

0.0x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Dec 30, 2025

$9.3BEPS -$48.51

Q4 2025

Dec 30, 2025

$2.5BEPS -$16.51

Q3 2025

Nov 17, 2025

$2.4B-34.1%EPS -$8.37

Q2 2025

Jun 29, 2025

$2.6B-25.9%EPS -$9.71

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$2.4B	$386M	$71M
Q1 22	$2.2B	$325M	$6M
Q2 22	$2.8B	$405M	-$42M
Q3 22	$2.9B	$449M	$9M
Q4 22	$4.4B	$615M	$90M
Q1 23	$3.4B	$590M	$177M
Q2 23	$4.5B	$699M	$225M
Q3 23	$4.7B	$896M	$437M
Q4 23	$4.8B	$598M	$51M
Q1 24	$3.4B	$400M	-$50M
Q2 24	$3.5B	$391M	-$166M
Q3 24	$3.6B	$563M	$11M
Q1 25	$2.0B	-$52M	-$419M
Q2 25	$2.6B	$76M	-$196M
Q3 25	$2.4B	$173M	-$205M
Q4 25	$2.5B	$8M	-$313M

Valuation

Quarter	P/S	P/E
Q4 21	0.1x	5.3x
Q1 22	0.1x	8.1x
Q2 22	0.1x	—
Q3 22	0.1x	24.2x
Q4 22	0.1x	6.8x
Q1 23	0.0x	3.2x
Q2 23	0.0x	1.2x
Q3 23	0.0x	0.6x
Q4 23	0.0x	0.9x
Q1 24	0.0x	0.7x
Q2 24	0.0x	1.0x
Q3 24	0.0x	4.2x
Q1 25	0.0x	—
Q2 25	0.0x	—
Q3 25	0.0x	—
Q4 25	0.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$0	$0
Q3 21	$0	$0
Q4 21	$62.6B	-$1.2T
Q1 22	$0	$0
Q2 22	$0	$0
Q3 22	$0	$0
Q4 22	-$1.2B	-$2.7B
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q1 25	$0	$0
Q3 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q2 21	$0
Q3 21	$0
Q4 21	$1.3T
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$1.5B
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q1 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+86.9%	+93.4%
Q1 22	+85.9%	+89.0%
Q2 22	+137.6%	+152.6%
Q3 22	+127.8%	+130.0%
Q4 22	+83.1%	+84.8%
Q1 23	+58.0%	+50.2%
Q2 23	+62.9%	+52.4%
Q3 23	+63.1%	+48.3%
Q4 23	+9.4%	+10.5%
Q1 24	-1.2%	+5.7%
Q2 24	-21.6%	-13.6%
Q3 24	-23.0%	-15.3%
Q1 25	-57.8%	-48.6%
Q2 25	-22.7%	-18.1%
Q3 25	-32.8%	-30.3%
Q4 25	-29.6%	-20.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$12.3K	0.0%
Q3 21	$737.3K	0.1%
Q4 21	$682.5K	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$146M	3.3%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$126M	2.6%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q1 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$17M	$113M	$163M	—
Q1 22	$21M	$96M	$202M	—
Q2 22	$22M	$165M	$237M	—
Q3 22	$29M	$120M	$289M	—
Q4 22	$33M	$131M	$329M	—
Q1 23	$28M	$158M	$227M	—
Q2 23	$33M	$117M	$243M	—
Q3 23	$32M	$169M	$254M	—
Q4 23	$41M	$225M	$271M	—
Q1 24	$35M	$200M	$214M	—
Q2 24	$31M	$167M	$263M	—
Q3 24	$30M	$172M	$317M	—
Q1 25	$22M	$178M	$167M	—
Q2 25	$36M	—	—	$236M
Q3 25	$37M	$113M	$146M	—
Q4 25	$34M	—	—	$287M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.2B	$0	$2.2B
Q2 22	$1.9B	$15M	$2.0B
Q3 22	$2.1B	$15M	$2.1B
Q4 22	$1.5B	$15M	$1.5B
Q1 23	$1.3B	$23M	$1.3B
Q2 23	$2.1B	$12M	$2.2B
Q3 23	$2.0B	$8M	$2.0B
Q4 23	$2.3B	$150M	$2.5B
Q1 24	$2.6B	$0	$2.6B
Q2 24	$2.0B	$0	$2.0B
Q3 24	$3.3B	$0	$3.3B
Q4 24	$3.7B	$136M	$3.8B
Q1 25	$4.0B	$0	$4.0B
Q2 25	$3.6B	$825M	$4.4B
Q3 25	$3.4B	$0	$3.4B
Q4 25	$3.4B	$1.1B	$4.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	13M	+0.3%	+15.6%
Q1 22	12M	-6.4%	-6.1%
Q2 22	12M	+2.8%	+3.5%
Q3 22	14M	+10.7%	+6.7%
Q4 22	14M	+0.1%	+6.5%
Q1 23	13M	-3.8%	+9.5%
Q2 23	14M	+6.0%	+13.0%
Q3 23	14M	-0.2%	+1.9%
Q4 23	13M	-3.5%	-1.8%
Q1 24	14M	+3.9%	+6.0%
Q2 24	13M	-6.2%	-6.2%
Q3 24	13M	-2.3%	-8.2%
Q1 25	13M	+0.6%	-4.2%
Q2 25	13M	+1.1%	-6.8%
Q3 25	13M	+0.4%	-0.2%
Q4 25	13M	0.0%	+2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$77.2K	31K
Q1 22	$69.5K	31K
Q2 22	$88.7K	31K
Q3 22	$91.9K	31K
Q4 22	$94.3K	47K
Q1 23	$73.3K	47K
Q2 23	$96.4K	47K
Q3 23	$100.0K	47K
Q4 23	$83.6K	57K
Q1 24	$58.7K	57K
Q2 24	$61.2K	57K
Q3 24	$62.4K	57K
Q1 25	$59.8K	34K
Q2 25	$76.9K	34K
Q3 25	$69.8K	34K
Q4 25	$74.6K	34K

Revenue / Employee