JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a prominent player in the solar module manufacturing industry, known for its global reach and significant contributions to the renewable energy sector. Competing with major solar companies like First Solar and Canadian Solar, JinkoSolar continues to lead in global module shipments despite financial challenges.
On November 17, 2025, JKS reported an earnings per share (EPS) of -$0.014, surpassing the estimated EPS of -$2.56. This indicates a better-than-expected performance, even though the company is still experiencing losses. The revenue for the period was approximately $2.27 billion, which fell short of the estimated $2.72 billion. This shortfall in revenue highlights the challenges JinkoSolar faces in meeting market expectations.
JinkoSolar's operational performance remains strong, with global module shipments reaching 61.9 gigawatts in the first three quarters of 2025. This achievement solidifies its position as the top-ranked solar module supplier worldwide. The company's gross margin improved significantly, rising from 2.9% in the second quarter to 7.3% in the third quarter. This improvement is attributed to strong performance in high-value overseas markets and outstanding product performance, as highlighted by Mr. Xiande Li, JinkoSolar's Chairman and CEO.
Despite these operational successes, JinkoSolar reported a net loss of $122.3 million in the second quarter and $105.3 million in the third quarter. The company's financial metrics reflect its current challenges, with a negative price-to-earnings (P/E) ratio of approximately -1.32 and a negative earnings yield of -75.64%. These figures indicate that JinkoSolar is currently unprofitable, although its price-to-sales ratio of 0.03 suggests the stock is relatively undervalued in terms of sales.
Analyst ratings for JKS are mixed. Goldman Sachs analyst Brian Lee maintained a Sell rating but raised the price target from $15 to $18. UBS analyst Jon Windham maintained a Neutral rating. JinkoSolar's stock saw a 2.7% increase, closing at $27.04 on Friday. The company's debt-to-equity ratio of 2.31 indicates a higher level of debt compared to its equity, while a current ratio of 1.33 suggests a reasonable level of liquidity to cover short-term liabilities.
