Recent News
June 25, 2026: Company announced Tiger Neo 3.0 modules received TÜV Rheinland verification for advanced shading and hail resistance. June 15, 2026: JinkoSolar earned RETC’s “Overall Highest Achiever” award for the seventh consecutive year. June 12, 2026: board declared a cash dividend (US$0.375 per ordinary share / US$1.50 per ADS). June 2026 filings also disclosed a strategic sale of a majority stake in a U.S. unit and a second‑quarter 2026 results announcement on August 26, 2026.
Technical Analysis
Trend strength: ADX at 14.32 signals no established trend; price action likely remains rangebound until directional conviction returns, which aligns with a stabilization rather than an outright breakout.
Directional indicators (DI+/DI-): DI+ at 17.82 shows a recent peak-and-reversal (bearish), while DI- at 17.31 also shows a peak-and-reversal (bullish). The simultaneous peak reversals indicate short-term directional conflict and raise the probability of choppy price behavior over the coming weeks.
MACD: MACD sits at -0.08 versus a -0.09 signal line, producing a marginal bullish crossover; however the MACD trend shows a peak-and-reversal, pointing to fading momentum even after the crossover. Expect momentum divergence to govern near-term moves.
MRO (Momentum/Regression Oscillator): MRO at 23.57 (positive) signals price above its internal target and therefore an intrinsic pullback risk; the MRO trend shows a dip-and-reversal, indicating improving momentum that could reduce downside pressure but not eliminate it.
RSI: RSI 43.85 with a peak-and-reversal profile signals decreasing upside momentum and room for consolidation before a durable advance; the reading sits below neutral, consistent with short-term weakness.
Price vs. averages and bands: Last close $15.50 sits below the 20‑day average ($16.41) and well below the 200‑day average ($21.52), signaling short-term weakness relative to longer-term trend. Price trades below the 1‑sigma lower Bollinger band ($15.90) and above the superTrend support at $15.07, suggesting a compressing range with nearby support and elevated volatility.
Volume and volatility: Today’s volume (~842k) exceeds the 10‑day average (492k) and the 200‑day average (698k), indicating active participation on the recent move. 42‑day beta 1.54 and 52‑week beta 1.75 confirm above‑market volatility, consistent with larger intraday swings for swing traders.
Fundamental Analysis
Profitability and margins: EBIT margin at -6.73% contrasts with the industry peer mean of 36.45% and industry peer median of 32.66%, and sits above the industry peer low; QoQ change in EBIT margin equals -63.04% while YoY change equals +46.80%, reflecting a sharp recent contraction but material improvement versus the prior year.
Revenue and growth: Total revenue $12,249,048,000 with revenue growth reported at -30.03% (overall) and revenue growth YoY -16.87%; revenue QoQ change is -459.94%, indicating severe short‑term volatility in top‑line execution.
Cash, liquidity, and leverage: Cash and short‑term investments $22,809,510,000 provide substantial liquidity relative to market cap $5,122,030,650 and net debt $26,648,627,000. Current ratio 1.26 and quick ratio 0.95 show working capital coverage but comparatively thinner quick liquidity versus the industry peer mean. Debt to equity 334.75% and debt to assets 42.35% reflect elevated leverage.
Cash flow and operating health: Operating cash flow -$3,438,415,000 and cash flow margin -28.07% indicate strained operating cash conversion this period, while cash conversion ratio 82.51% and cash conversion cycle ~113 days show sizeable working capital tied in operations.
Earnings and estimates: Reported EPS -$0.32 versus an estimate of -$0.62 produced an EPS surprise ratio of 48.39%, while forward EPS 0.1876 implies a forward PE of 137.74, signaling elevated forward expectations relative to current profitability.
Valuation frame: WMDST values the stock as under‑valued. Key valuation cues: EV/Revenue (EVR) 2.89 and price‑to‑book 0.32 sit well below the industry peer mean and median (P/B mean ~5.72, median ~5.73) and above the industry peer low, creating a pronounced valuation gap. That gap reflects market pricing of execution and leverage risk despite a large cash base.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ -3.44 B | |
| Capital Expenditures | — | |
| Change In Working Capital | $ 463.5 M | |
| Dividends Paid | — | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 12.2 B | |
| Forward Revenue | $ -259.67 M | |
| COSTS | ||
| Cost Of Revenue | $ 11.2 B | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 228.5 M | |
| Total Operating Expenses | $ 12.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.0 B | |
| EBITDA | $ -824.60 M | |
| EBIT | $ -824.60 M | |
| Operating Income | $ -256.25 M | |
| Interest Income | $ 109.9 M | |
| Interest Expense | $ 380.6 M | |
| Net Interest Income | $ -270.75 M | |
| Income Before Tax | $ -1.21 B | |
| Tax Provision | $ -379.26 M | |
| Tax Rate | 31.468 % | |
| Net Income | $ -463.51 M | |
| Net Income From Continuing Operations | $ -463.51 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.62 | |
| EPS Actual | $ -0.32 | |
| EPS Difference | $ 0.30 | |
| EPS Surprise | 48.387 % | |
| Forward EPS | $ 0.19 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 125.5 B | |
| Intangible Assets | $ 2.6 B | |
| Net Tangible Assets | $ 13.3 B | |
| Total Current Assets | $ 72.7 B | |
| Cash and Short-Term Investments | $ 22.8 B | |
| Cash | $ 22.8 B | |
| Net Receivables | $ 13.8 B | |
| Inventory | $ 17.7 B | |
| Long-Term Investments | $ 3.1 B | |
| LIABILITIES | ||
| Accounts Payable | $ 14.1 B | |
| Short-Term Debt | $ 21.5 B | |
| Total Current Liabilities | $ 57.8 B | |
| Net Debt | $ 26.6 B | |
| Total Debt | $ 53.1 B | |
| Total Liabilities | $ 95.4 B | |
| EQUITY | ||
| Total Equity | $ 15.9 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 75.79 | |
| Shares Outstanding | 209.481 M | |
| Revenue Per-Share | $ 58.47 | |
| VALUATION | Market Capitalization | $ 5.1 B |
| Enterprise Value | $ 35.5 B | |
| Enterprise Multiple | -43.0 | |
| Enterprise Multiple QoQ | 302.675 % | |
| Enterprise Multiple YoY | 53.589 % | |
| Enterprise Multiple IPRWA | high: 394.414 mean: 56.548 median: 22.264 JKS: -43.0 low: -438.379 |
|
| EV/R | 2.895 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.905 | |
| Asset To Liability | 1.316 | |
| Debt To Capital | 0.77 | |
| Debt To Assets | 0.423 | |
| Debt To Assets QoQ | -3.527 % | |
| Debt To Assets YoY | 10.518 % | |
| Debt To Assets IPRWA | high: 0.579 JKS: 0.423 mean: 0.151 median: 0.106 low: 0.002 |
|
| Debt To Equity | 3.348 | |
| Debt To Equity QoQ | -0.901 % | |
| Debt To Equity YoY | 39.213 % | |
| Debt To Equity IPRWA | JKS: 3.348 high: 1.784 mean: 0.28 median: 0.149 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.323 | |
| Price To Book QoQ | -0.918 % | |
| Price To Book YoY | 38.112 % | |
| Price To Book IPRWA | high: 18.637 median: 5.73 mean: 5.721 JKS: 0.323 low: 0.296 |
|
| Price To Earnings (P/E) | -76.41 | |
| Price To Earnings QoQ | 1170.124 % | |
| Price To Earnings YoY | -444.571 % | |
| Price To Earnings IPRWA | high: 539.07 mean: 89.477 median: 52.779 JKS: -76.41 low: -257.057 |
|
| PE/G Ratio | — | |
| Price To Sales (P/S) | 0.418 | |
| Price To Sales QoQ | 42.961 % | |
| Price To Sales YoY | 85.775 % | |
| Price To Sales IPRWA | high: 218.897 mean: 25.824 median: 17.401 low: 0.598 JKS: 0.418 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 137.739 | |
| Forward PE/G | — | |
| Forward P/S | -19.778 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.469 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.099 | |
| Asset Turnover Ratio QoQ | -31.355 % | |
| Asset Turnover Ratio YoY | -38.626 % | |
| Asset Turnover Ratio IPRWA | high: 0.255 median: 0.192 mean: 0.187 JKS: 0.099 low: 0.001 |
|
| Receivables Turnover | 0.896 | |
| Receivables Turnover Ratio QoQ | -26.791 % | |
| Receivables Turnover Ratio YoY | -26.846 % | |
| Receivables Turnover Ratio IPRWA | high: 4.864 mean: 2.069 median: 2.039 JKS: 0.896 low: 0.55 |
|
| Inventory Turnover | 0.698 | |
| Inventory Turnover Ratio QoQ | -41.184 % | |
| Inventory Turnover Ratio YoY | -51.247 % | |
| Inventory Turnover Ratio IPRWA | high: 1.183 median: 0.716 mean: 0.702 JKS: 0.698 low: 0.221 |
|
| Days Sales Outstanding (DSO) | 101.887 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 113.26 | |
| Cash Conversion Cycle Days QoQ | 42.307 % | |
| Cash Conversion Cycle Days YoY | 31.773 % | |
| Cash Conversion Cycle Days IPRWA | high: 330.889 mean: 119.947 median: 119.741 JKS: 113.26 low: -57.656 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.825 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 43.8 B | |
| Net Invested Capital | $ 65.3 B | |
| Invested Capital | $ 65.3 B | |
| Net Tangible Assets | $ 13.3 B | |
| Net Working Capital | $ 14.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.394 | |
| Current Ratio | 1.257 | |
| Current Ratio QoQ | 0.519 % | |
| Current Ratio YoY | -0.578 % | |
| Current Ratio IPRWA | high: 19.487 mean: 3.132 median: 2.897 JKS: 1.257 low: 0.475 |
|
| Quick Ratio | 0.951 | |
| Quick Ratio QoQ | -3.697 % | |
| Quick Ratio YoY | -8.105 % | |
| Quick Ratio IPRWA | high: 11.279 mean: 2.434 median: 2.319 JKS: 0.951 low: 0.421 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -64.45 | |
| Cost Of Debt | 0.491 % | |
| Interest Coverage Ratio | -2.166 | |
| Interest Coverage Ratio QoQ | -75.61 % | |
| Interest Coverage Ratio YoY | -20.51 % | |
| Interest Coverage Ratio IPRWA | high: 87.858 mean: 12.936 median: 12.548 JKS: -2.166 low: -116.6 |
|
| Operating Cash Flow Ratio | -0.059 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 72.792 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.701 % | |
| Revenue Growth | -30.033 % | |
| Revenue Growth QoQ | -459.935 % | |
| Revenue Growth YoY | -1687.368 % | |
| Revenue Growth IPRWA | high: 74.888 % mean: 27.661 % median: 2.735 % JKS: -30.033 % low: -66.446 % |
|
| Earnings Growth | 0.0 % | |
| Earnings Growth QoQ | -100.0 % | |
| Earnings Growth YoY | -100.0 % | |
| Earnings Growth IPRWA | high: 155.23 % mean: 51.072 % median: 8.85 % JKS: 0.0 % low: -188.889 % |
|
| MARGINS | ||
| Gross Margin | 8.316 % | |
| Gross Margin QoQ | 2540.0 % | |
| Gross Margin YoY | 117.469 % | |
| Gross Margin IPRWA | high: 86.201 % median: 64.709 % mean: 57.715 % JKS: 8.316 % low: -27.549 % |
|
| EBIT Margin | -6.732 % | |
| EBIT Margin QoQ | -63.037 % | |
| EBIT Margin YoY | 46.795 % | |
| EBIT Margin IPRWA | high: 67.863 % mean: 36.452 % median: 32.662 % JKS: -6.732 % low: -257.944 % |
|
| Return On Sales (ROS) | -2.092 % | |
| Return On Sales QoQ | -81.066 % | |
| Return On Sales YoY | -54.383 % | |
| Return On Sales IPRWA | high: 67.624 % mean: 36.779 % median: 33.067 % JKS: -2.092 % low: -257.944 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | — | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | — | |
| Free Cash Growth QoQ | — | |
| Free Cash Growth YoY | — | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | — | |
| Cash Flow Margin | -28.071 % | |
| Cash Flow To Earnings | 7.418 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.01 | |
| Return On Assets (ROA) | -0.376 % | |
| Return On Assets QoQ | -69.677 % | |
| Return On Assets YoY | 0.535 % | |
| Return On Assets IPRWA | high: 14.706 % median: 13.379 % mean: 8.308 % JKS: -0.376 % low: -11.994 % |
|
| Return On Capital Employed (ROCE) | -1.219 % | |
| Return On Equity (ROE) | -0.029 | |
| Return On Equity QoQ | -69.386 % | |
| Return On Equity YoY | 21.87 % | |
| Return On Equity IPRWA | high: 0.27 median: 0.19 mean: 0.12 JKS: -0.029 low: -0.401 |
|
| DuPont ROE | -2.933 % | |
| Return On Invested Capital (ROIC) | -0.865 % | |
| Return On Invested Capital QoQ | -76.431 % | |
| Return On Invested Capital YoY | -23.451 % | |
| Return On Invested Capital IPRWA | high: 7.994 % median: 2.605 % mean: 2.423 % JKS: -0.865 % low: -7.726 % |
|