JKS FY 2019 Earnings Report — JinkoSolar Holding Co., Ltd. Revenue & Financial Results | Market Cap Arena

JinkoSolar Holding Co., Ltd.JKS

FY 2019 Earnings

Reported April 24, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$4.3B	—	$3.7B	—	18.8%
Op. Income	$253M	—	$94M	—	168.2%
Gross Margin	18.3%	—	14.0%	—	4.2pp
Net Margin	3.0%	—	1.6%	—	1.4pp
EPS (Diluted)	$11.34	—	$6.15	—	84.4%
Free Cash Flow	-$331M	—	-$268M	—	-23.2%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.6B
GROSS PROFIT	$794M
R&D Expenses	$47M
Selling & Marketing	$329M
General & Administrative	$155M
SG&A Expenses	$484M
Other Expenses	$10M
Operating Expenses	$541M
Cost & Expenses	$4.1B
OPERATING INCOME	$253M
Interest Income	$25M
Interest Expense	$82M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$176M
Income Tax Expense	$41M
Net Income from Continuing Ops	$135M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$131M
Net Income Deductions	$13M
BOTTOM LINE NET INCOME	$118M
D&A	$143M
EBIT	$265M
EBITDA	$408M
EPS	$12
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.6B
GROSS PROFIT	$794M
R&D Expenses	$47M
Selling & Marketing	$329M
General & Administrative	$155M
SG&A Expenses	$484M
Other Expenses	$10M
Operating Expenses	$541M
Cost & Expenses	$4.1B
OPERATING INCOME	$253M
Interest Income	$25M
Interest Expense	$82M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$176M
Income Tax Expense	$41M
Net Income from Continuing Ops	$135M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$131M
Net Income Deductions	$13M
BOTTOM LINE NET INCOME	$118M
D&A	$143M
EBIT	$265M
EBITDA	$408M
EPS	$12
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$131M
Depreciation & Amortization	$143M
Stock-Based Compensation	$669.0K
Deferred Income Tax	$43M
Other Non-Cash Items	$143M
Change in Working Capital	-$254M
OPERATING CASH FLOW	$206M
Capital Expenditure	-$537M
Acquisitions (Net)	-$14M
Purchases of Investments	-$1.6T
Sales/Maturities of Investments	$1.2T
Other Investing Activities	$445.9B
NET CASH FROM INVESTING	-$880M
Net Debt Issuance	$657M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$350M
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	-$331M
Net Change in Cash	$408M

Balance Sheet

Item	Amount
Cash & Equivalents	$826M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$850M
Other Current Assets	$1.3B
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$1.9B
Goodwill	$0
Intangible Assets	$93M
Long-Term Investments	$41M
Tax Assets	$40M
Other Non-Current Assets	$267M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$7.0B
Account Payables	$729M
Short-Term Debt	$2.4B
Deferred Revenue	$636M
Other Current Liabilities	$148M
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$338M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$37M
Other Non-Current Liabilities	$102M
TOTAL NON-CURRENT LIABILITIES	$603M
TOTAL LIABILITIES	$5.2B
Common Stock	$3.6K
Additional Paid-In Capital	$670M
Retained Earnings	$582M
Treasury Stock	-$2M
Accum. Other Comp. Income	$110M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$458M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$7.0B
Total Debt	$2.9B
Net Debt	$2.1B