JKS FY 2018 Earnings Report — JinkoSolar Holding Co., Ltd. Revenue & Financial Results | Market Cap Arena

JinkoSolar Holding Co., Ltd.JKS

FY 2018 Earnings

Reported April 10, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$3.7B	—	$3.9B	—	-5.4%
Op. Income	$94M	—	$48M	—	98.3%
Gross Margin	14.0%	—	11.3%	—	2.7pp
Net Margin	1.6%	—	0.5%	—	1.1pp
EPS (Diluted)	$6.15	—	$2.52	—	143.5%
Free Cash Flow	-$268M	—	-$401M	—	33.0%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$3.1B
GROSS PROFIT	$513M
R&D Expenses	$54M
Selling & Marketing	$250M
General & Administrative	$114M
SG&A Expenses	$363M
Other Expenses	$2M
Operating Expenses	$419M
Cost & Expenses	$3.6B
OPERATING INCOME	$94M
Interest Income	$13M
Interest Expense	$58M
Other Income/Expenses	-$34M
INCOME BEFORE TAX	$60M
Income Tax Expense	$644.3K
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$119M
EBIT	$115M
EBITDA	$234M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$3.1B
GROSS PROFIT	$513M
R&D Expenses	$54M
Selling & Marketing	$250M
General & Administrative	$114M
SG&A Expenses	$363M
Other Expenses	$2M
Operating Expenses	$419M
Cost & Expenses	$3.6B
OPERATING INCOME	$94M
Interest Income	$13M
Interest Expense	$58M
Other Income/Expenses	-$34M
INCOME BEFORE TAX	$60M
Income Tax Expense	$644.3K
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$119M
EBIT	$115M
EBITDA	$234M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$59M
Depreciation & Amortization	$119M
Stock-Based Compensation	$4M
Deferred Income Tax	$203M
Other Non-Cash Items	-$89M
Change in Working Capital	-$207M
OPERATING CASH FLOW	$90M
Capital Expenditure	-$358M
Acquisitions (Net)	$2M
Purchases of Investments	-$88M
Sales/Maturities of Investments	$88M
Other Investing Activities	-$217M
NET CASH FROM INVESTING	-$575M
Net Debt Issuance	$387M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$96M
NET CASH FROM FINANCING	$580M
FREE CASH FLOW	-$268M
Net Change in Cash	$105M

Balance Sheet

Item	Amount
Cash & Equivalents	$454M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$839M
Other Current Assets	$660M
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$1.5B
Goodwill	$0
Intangible Assets	$89M
Long-Term Investments	$4M
Tax Assets	$49M
Other Non-Current Assets	$221M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$5.2B
Account Payables	$778M
Short-Term Debt	$1.9B
Deferred Revenue	$350M
Other Current Liabilities	$14M
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$329M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$93M
TOTAL NON-CURRENT LIABILITIES	$476M
TOTAL LIABILITIES	$4.0B
Common Stock	$3.2K
Additional Paid-In Capital	$586M
Retained Earnings	$468M
Treasury Stock	-$2M
Accum. Other Comp. Income	$94M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$90M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$2.3B
Net Debt	$1.9B