JKS FY 2016 Earnings Report — JinkoSolar Holding Co., Ltd. Revenue & Financial Results | Market Cap Arena

JinkoSolar Holding Co., Ltd.JKS

FY 2016 Earnings

Reported March 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$3.1B	—	$2.3B	—	38.5%
Op. Income	$197M	—	$164M	—	20.3%
Gross Margin	18.1%	—	19.0%	—	-0.9pp
Net Margin	8.5%	—	4.4%	—	4.1pp
EPS (Diluted)	$31.20	—	$12.50	—	149.5%
Free Cash Flow	-$861M	—	-$242M	—	-256.4%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.6B
GROSS PROFIT	$565M
R&D Expenses	$26M
Selling & Marketing	$209M
General & Administrative	$114M
SG&A Expenses	$323M
Other Expenses	$18M
Operating Expenses	$368M
Cost & Expenses	$2.9B
OPERATING INCOME	$197M
Interest Income	$748.9K
Interest Expense	$55M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$182M
Income Tax Expense	$38M
Net Income from Continuing Ops	$145M
Net Income from Discontinued Ops	$146M
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$115M
EBIT	$241M
EBITDA	$356M
EPS	$34
EPS Diluted	$31

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.6B
GROSS PROFIT	$565M
R&D Expenses	$26M
Selling & Marketing	$209M
General & Administrative	$114M
SG&A Expenses	$323M
Other Expenses	$18M
Operating Expenses	$368M
Cost & Expenses	$2.9B
OPERATING INCOME	$197M
Interest Income	$748.9K
Interest Expense	$55M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$182M
Income Tax Expense	$38M
Net Income from Continuing Ops	$145M
Net Income from Discontinued Ops	$146M
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$115M
EBIT	$241M
EBITDA	$356M
EPS	$34
EPS Diluted	$31

Cash Flow Statement

Item	Amount
Net Income	$267M
Depreciation & Amortization	$115M
Stock-Based Compensation	$30M
Deferred Income Tax	$3M
Other Non-Cash Items	-$645M
Change in Working Capital	-$748M
OPERATING CASH FLOW	-$263M
Capital Expenditure	-$598M
Acquisitions (Net)	-$94M
Purchases of Investments	-$25M
Sales/Maturities of Investments	$9M
Other Investing Activities	-$417M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$718M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$360M
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	-$861M
Net Change in Cash	-$126M

Balance Sheet

Item	Amount
Cash & Equivalents	$365M
Short-Term Investments	$10M
Net Receivables	$1.2B
Inventory	$653M
Other Current Assets	$560M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$772M
Goodwill	$0
Intangible Assets	$69M
Long-Term Investments	$1M
Tax Assets	$20M
Other Non-Current Assets	$73M
TOTAL NON-CURRENT ASSETS	$934M
TOTAL ASSETS	$3.8B
Account Payables	$627M
Short-Term Debt	$1.6B
Deferred Revenue	$201M
Other Current Liabilities	$13M
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$71M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$106M
TOTAL NON-CURRENT LIABILITIES	$185M
TOTAL LIABILITIES	$2.9B
Common Stock	$2.6K
Additional Paid-In Capital	$459M
Retained Earnings	$403M
Treasury Stock	-$2M
Accum. Other Comp. Income	$83M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$944M
Minority Interest	-$72.4K
TOTAL EQUITY	$943M
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$1.6B
Net Debt	$1.3B