JKS FY 2022 Earnings Report — JinkoSolar Holding Co., Ltd. Revenue & Financial Results | Market Cap Arena

JinkoSolar Holding Co., Ltd.JKS

FY 2022 Earnings

Reported April 28, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$12.1B	—	$6.0B	—	103.6%
Op. Income	$63M	—	$161M	—	-61.1%
Gross Margin	14.8%	—	16.3%	—	-1.5pp
Net Margin	0.7%	—	1.8%	—	-1.0pp
EPS (Diluted)	$7.25	—	$4.70	—	54.2%
Free Cash Flow	-$2.6B	—	-$1.2B	—	-119.5%

Revenue Flow

Item	Amount
REVENUE	$12.1B
Cost of Revenue	$10.4B
GROSS PROFIT	$1.8B
R&D Expenses	$106M
Selling & Marketing	$1.1B
General & Administrative	$513M
SG&A Expenses	$1.6B
Other Expenses	$55M
Operating Expenses	$1.7B
Cost & Expenses	$12.1B
OPERATING INCOME	$63M
Interest Income	$88M
Interest Expense	$160M
Other Income/Expenses	$254M
INCOME BEFORE TAX	$317M
Income Tax Expense	$88M
Net Income from Continuing Ops	$229M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$91M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$403M
EBIT	$447M
EBITDA	$850M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$12.1B
Cost of Revenue	$10.4B
GROSS PROFIT	$1.8B
R&D Expenses	$106M
Selling & Marketing	$1.1B
General & Administrative	$513M
SG&A Expenses	$1.6B
Other Expenses	$55M
Operating Expenses	$1.7B
Cost & Expenses	$12.1B
OPERATING INCOME	$63M
Interest Income	$88M
Interest Expense	$160M
Other Income/Expenses	$254M
INCOME BEFORE TAX	$317M
Income Tax Expense	$88M
Net Income from Continuing Ops	$229M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$91M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$403M
EBIT	$447M
EBITDA	$850M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$91M
Depreciation & Amortization	$403M
Stock-Based Compensation	$146M
Deferred Income Tax	-$47M
Other Non-Cash Items	$976M
Change in Working Capital	-$2.4B
OPERATING CASH FLOW	-$848M
Capital Expenditure	-$1.8B
Acquisitions (Net)	-$103M
Purchases of Investments	-$48M
Sales/Maturities of Investments	$38M
Other Investing Activities	$110M
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	$1.5B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$2.9B
FREE CASH FLOW	-$2.6B
Net Change in Cash	$318M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$15M
Net Receivables	$3.5B
Inventory	$2.5B
Other Current Assets	$1.9B
TOTAL CURRENT ASSETS	$10.0B
PP&E (Net)	$5.0B
Goodwill	$0
Intangible Assets	$221M
Long-Term Investments	$250M
Tax Assets	$103M
Other Non-Current Assets	$292M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$15.9B
Account Payables	$1.5B
Short-Term Debt	$4.8B
Deferred Revenue	$1.3B
Other Current Liabilities	$559.5K
TOTAL CURRENT LIABILITIES	$9.5B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$296M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$11.9B
Common Stock	$4.1K
Additional Paid-In Capital	$1.4B
Retained Earnings	$913M
Treasury Stock	-$6M
Accum. Other Comp. Income	$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$1.6B
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$15.9B
Total Debt	$7.0B
Net Debt	$5.5B