JKS FY 2020 Earnings Report — JinkoSolar Holding Co., Ltd. Revenue & Financial Results | Market Cap Arena

JinkoSolar Holding Co., Ltd.JKS

FY 2020 Earnings

Reported April 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$5.1B	—	$4.3B	—	18.1%
Op. Income	$261M	—	$253M	—	3.2%
Gross Margin	17.6%	—	18.3%	—	-0.7pp
Net Margin	0.7%	—	3.0%	—	-2.4pp
EPS (Diluted)	$3.01	—	$11.34	—	-73.5%
Free Cash Flow	-$517M	—	-$331M	—	-56.4%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$4.2B
GROSS PROFIT	$902M
R&D Expenses	$57M
Selling & Marketing	$361M
General & Administrative	$206M
SG&A Expenses	$567M
Other Expenses	$17M
Operating Expenses	$641M
Cost & Expenses	$4.9B
OPERATING INCOME	$261M
Interest Income	$30M
Interest Expense	$93M
Other Income/Expenses	-$186M
INCOME BEFORE TAX	$75M
Income Tax Expense	$26M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$202M
EBIT	$182M
EBITDA	$384M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$4.2B
GROSS PROFIT	$902M
R&D Expenses	$57M
Selling & Marketing	$361M
General & Administrative	$206M
SG&A Expenses	$567M
Other Expenses	$17M
Operating Expenses	$641M
Cost & Expenses	$4.9B
OPERATING INCOME	$261M
Interest Income	$30M
Interest Expense	$93M
Other Income/Expenses	-$186M
INCOME BEFORE TAX	$75M
Income Tax Expense	$26M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$202M
EBIT	$182M
EBITDA	$384M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$202M
Stock-Based Compensation	$134.9K
Deferred Income Tax	$14M
Other Non-Cash Items	-$41M
Change in Working Capital	-$122M
OPERATING CASH FLOW	$86M
Capital Expenditure	-$604M
Acquisitions (Net)	$4M
Purchases of Investments	-$83M
Sales/Maturities of Investments	$79M
Other Investing Activities	-$115M
NET CASH FROM INVESTING	-$719M
Net Debt Issuance	$370M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$2.3B
Other Financing Activities	$2.8B
NET CASH FROM FINANCING	$920M
FREE CASH FLOW	-$517M
Net Change in Cash	$263M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$83M
Net Receivables	$1.2B
Inventory	$1.2B
Other Current Assets	$1.0B
TOTAL CURRENT ASSETS	$4.9B
PP&E (Net)	$2.2B
Goodwill	$0
Intangible Assets	$116M
Long-Term Investments	$28M
Tax Assets	$37M
Other Non-Current Assets	$464M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$7.8B
Account Payables	$650M
Short-Term Debt	$2.8B
Deferred Revenue	$358M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$48M
Other Non-Current Liabilities	$118M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$5.9B
Common Stock	$3.8K
Additional Paid-In Capital	$767M
Retained Earnings	$616M
Treasury Stock	-$6M
Accum. Other Comp. Income	$82M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$439M
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$7.8B
Total Debt	$4.0B
Net Debt	$2.9B