What is Jinkosolar Hold's earnings per share (EPS)?

Jinkosolar Hold (JKS) reported diluted earnings per share of $-3.05 for fiscal year 2025. This represents a -1694.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Jinkosolar Hold Financials

JKS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Jinkosolar Hold (JKS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI JKS FY2024 2026-04-29

Cash generation improved in FY2024 because inventory and capex reset offset a sharp squeeze in operating margins.

FY2024 looked weak on earnings but stronger on cash: despite an operating margin of -3.6%, operating cash flow rose to $2.3B. That gap was created less by profit than by a working-capital release and a lighter investment cycle, with free cash flow improving from -$206M to $1.1B as inventory and capex both moved down versus FY2023.

Across FY2020-FY2023, revenue more than tripled from $5.4B to $16.7B, yet free cash flow stayed negative each year. That pattern points to a capital-hungry expansion model: scale was rising, but factories, equipment, and working capital were absorbing the cash that reported sales growth would normally suggest.

Margin shape also explains why earnings can swing so hard: gross margin fell from 16.1% to 10.9% in FY2024, but that modest-looking drop was enough to push operating results below zero once overhead and depreciation were carried across a smaller revenue base. The later cash improvement therefore looks more like a reset in balance-sheet usage than a recovery in core profitability.

Financial Health Signals

Financial Profile 9/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Jinkosolar Hold's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Jinkosolar Hold has an operating margin of -13.6%, meaning the company retains $-14 of operating profit per $100 of revenue. This below-average margin results in a low score of 7/100, suggesting thin profitability after operating expenses. This is down from -3.6% the prior year.

Growth

Jinkosolar Hold's revenue declined 25.9% year-over-year, from $12.6B to $9.4B. This contraction results in a growth score of 0/100.

Leverage

Jinkosolar Hold has elevated debt relative to equity (D/E of 5.94), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Jinkosolar Hold's current ratio of 1.25 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Jinkosolar Hold generated $154.7M in operating cash flow, capex of $455.6M consumed most of it, leaving -$300.8M in free cash flow. This results in a low score of 27/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Jinkosolar Hold generates a -28.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 0.3% the prior year.

Piotroski F-Score Weak

2/9

Jinkosolar Hold passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

-0.24x

For every $1 of reported earnings, Jinkosolar Hold generates $-0.24 in operating cash flow ($154.7M OCF vs -$635.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-6.5x

Jinkosolar Hold earns $-6.5 in operating income for every $1 of interest expense (-$1.3B vs $194.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$9.4B

YoY-25.9%

5Y CAGR+11.7%

10Y CAGR+14.2%

Jinkosolar Hold generated $9.4B in revenue in fiscal year 2025. This represents a decrease of 25.9% from the prior year.

EBITDA

-$146.2M

YoY-124.9%

Jinkosolar Hold's EBITDA was -$146.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 124.9% from the prior year.

Net Income

-$635.6M

YoY-8605.8%

Jinkosolar Hold reported -$635.6M in net income in fiscal year 2025. This represents a decrease of 8605.8% from the prior year.

EPS (Diluted)

$-3.05

YoY-1694.1%

Jinkosolar Hold earned $-3.05 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1694.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$300.8M

YoY-128.3%

Jinkosolar Hold generated -$300.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 128.3% from the prior year.

Cash & Debt

$2.9B

YoY-16.6%

5Y CAGR+20.1%

10Y CAGR+23.6%

Jinkosolar Hold held $2.9B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.38

Jinkosolar Hold paid $0.38 per share in dividends in fiscal year 2025.

Shares Outstanding

209M

YoY+2.0%

5Y CAGR+2.2%

10Y CAGR+5.3%

Jinkosolar Hold had 209M shares outstanding in fiscal year 2025. This represents an increase of 2.0% from the prior year.

Margins & Returns

Gross Margin

2.1%

YoY-8.8pp

5Y CAGR-15.4pp

10Y CAGR-18.2pp

Jinkosolar Hold's gross margin was 2.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 8.8 percentage points from the prior year.

Operating Margin

-13.6%

YoY-10.0pp

5Y CAGR-18.7pp

10Y CAGR-21.8pp

Jinkosolar Hold's operating margin was -13.6% in fiscal year 2025, reflecting core business profitability. This is down 10.0 percentage points from the prior year.

Net Margin

-6.8%

YoY-6.9pp

5Y CAGR-7.4pp

10Y CAGR-11.0pp

Jinkosolar Hold's net profit margin was -6.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.9 percentage points from the prior year.

Return on Equity

-28.3%

YoY-28.5pp

5Y CAGR-30.6pp

10Y CAGR-44.1pp

Jinkosolar Hold's ROE was -28.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 28.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$128.3M

YoY+1.7%

5Y CAGR+16.5%

10Y CAGR+19.2%

Jinkosolar Hold invested $128.3M in research and development in fiscal year 2025. This represents an increase of 1.7% from the prior year.

Share Buybacks

$568K

YoY-99.5%

5Y CAGR-33.9%

Jinkosolar Hold spent $568K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.5% from the prior year.

Capital Expenditures

$455.6M

YoY-63.4%

5Y CAGR-6.0%

10Y CAGR+13.1%

Jinkosolar Hold invested $455.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 63.4% from the prior year.

JKS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$9.4B-25.9%	$12.6B-24.4%	$16.7B+38.7%	$12.1B+88.1%	$6.4B+19.0%	$5.4B
Cost of Revenue	$9.2B-18.6%	$11.3B-19.8%	$14.0B+36.6%	$10.3B+91.6%	$5.4B+20.8%	$4.4B
Gross Profit	$201.7M-85.4%	$1.4B-48.6%	$2.7B+50.7%	$1.8B+70.4%	$1.0B+10.5%	$945.8M
R&D Expenses	$128.3M+1.7%	$126.1M-1.8%	$128.4M+22.2%	$105.1M+45.1%	$72.4M+21.4%	$59.6M
SG&A Expenses	$472.6M-25.0%	$629.9M-2.4%	$645.6M+26.9%	$508.7M+65.1%	$308.1M+42.7%	$216.0M
Operating Income	-$1.3B-177.9%	-$458.2M-153.4%	$858.1M+1278.8%	$62.2M-64.0%	$173.0M-36.8%	$273.6M
Interest Expense	$194.5M+24.2%	$156.6M-5.1%	$165.0M+5.4%	$156.5M	N/A	N/A
Income Tax	-$317.6M-3438.5%	$9.5M-94.6%	$177.5M+102.3%	$87.8M+188.1%	$30.5M+11.4%	$27.3M
Net Income	-$635.6M-8605.8%	$7.5M-98.5%	$485.6M+439.7%	$90.0M-20.5%	$113.1M+220.4%	$35.3M
EPS (Diluted)	$-3.05-1694.1%	$-0.17-107.9%	$2.15+377.8%	$0.45+45.2%	$0.31+247.6%	$-0.21

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q3'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JKS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$17.3B+1.2%	$17.1B-10.6%	$19.1B+21.4%	$15.8B+37.6%	$11.5B+40.4%	$8.2B
Current Assets	$9.8B+4.3%	$9.4B-19.2%	$11.7B+17.9%	$9.9B+38.7%	$7.1B+38.4%	$5.2B
Cash & Equivalents	$2.9B-16.6%	$3.4B+51.7%	$2.3B+52.3%	$1.5B+13.7%	$1.3B+13.9%	$1.1B
Inventory	$2.1B+20.9%	$1.7B-33.2%	$2.6B+1.4%	$2.5B+21.7%	$2.1B+62.0%	$1.3B
Accounts Receivable	$25.1M	N/A	N/A	$2.4B+106.2%	$1.2B+68.7%	$695.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$13.4B+7.6%	$12.4B-13.8%	$14.4B+21.7%	$11.8B+28.5%	$9.2B+49.3%	$6.2B
Current Liabilities	$7.9B+5.5%	$7.5B-34.6%	$11.4B+21.3%	$9.4B+32.0%	$7.1B+49.1%	$4.8B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.2B-17.5%	$2.7B-4.0%	$2.8B+19.9%	$2.4B+36.6%	$1.7B+13.3%	$1.5B
Retained Earnings	$540.8M	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q3'20	Q4'19
Total Assets	$17.3B+1.2%	$17.1B-10.6%	$19.1B+21.4%	$15.8B+37.6%	$11.5B+40.4%	$8.2B+10.8%	$7.4B+7.2%	$6.9B
Current Assets	$9.8B+4.3%	$9.4B-19.2%	$11.7B+17.9%	$9.9B+38.7%	$7.1B+38.4%	$5.2B+8.4%	$4.8B+4.6%	$4.6B
Cash & Equivalents	$2.9B-16.6%	$3.4B+51.7%	$2.3B+52.3%	$1.5B+13.7%	$1.3B+13.9%	$1.1B+34.8%	$850.5M+4.7%	$812.1M
Inventory	$2.1B+20.9%	$1.7B-33.2%	$2.6B+1.4%	$2.5B+21.7%	$2.1B+62.0%	$1.3B+12.9%	$1.1B+36.1%	$835.8M
Accounts Receivable	N/A	N/A	N/A	$2.4B+106.2%	$1.2B+68.7%	$695.0M-8.3%	$758.1M+0.2%	$756.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$13.4B+7.6%	$12.4B-13.8%	$14.4B+21.7%	$11.8B+28.5%	$9.2B+49.3%	$6.2B+11.1%	$5.6B+9.2%	$5.1B
Current Liabilities	$7.9B+5.5%	$7.5B-34.6%	$11.4B+21.3%	$9.4B+32.0%	$7.1B+49.1%	$4.8B+4.5%	$4.6B+1.9%	$4.5B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.2B-17.5%	$2.7B-4.0%	$2.8B+19.9%	$2.4B+36.6%	$1.7B+13.3%	$1.5B+5.3%	$1.5B+8.8%	$1.3B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JKS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$154.7M-93.3%	$2.3B+18.5%	$1.9B+331.5%	-$841.0M-1344.5%	$67.6M-25.5%	$90.6M
Capital Expenditures	$455.6M-63.4%	$1.2B-42.2%	$2.2B+21.2%	$1.8B+30.8%	$1.4B+118.5%	$621.5M
Free Cash Flow	-$300.8M-128.3%	$1.1B+615.5%	-$206.2M+92.1%	-$2.6B-102.8%	-$1.3B-143.1%	-$530.8M
Investing Cash Flow	-$769.0M-93.4%	-$397.6M+81.4%	-$2.1B-20.0%	-$1.8B-0.3%	-$1.8B-135.4%	-$753.8M
Financing Cash Flow	-$108.5M+87.4%	-$858.8M-170.6%	$1.2B-58.1%	$2.9B+53.9%	$1.9B+95.4%	$965.1M
Dividends Paid	$69.6M	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$568K-99.5%	$119.9M+973.4%	$11.2M	N/A	N/A	$4.5M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q3'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	$338.8M	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$298.8M	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$40.0M	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	-$435.3M	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	$374.1M	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$175K	N/A	N/A

JKS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	2.1%-8.8pp	10.9%-5.2pp	16.1%+1.3pp	14.8%-1.5pp	16.3%-1.3pp	17.6%
Operating Margin	-13.6%-10.0pp	-3.6%-8.8pp	5.1%+4.6pp	0.5%-2.2pp	2.7%-2.4pp	5.1%
Net Margin	-6.8%-6.9pp	0.1%-2.8pp	2.9%+2.2pp	0.8%-1.0pp	1.8%+1.1pp	0.7%
Return on Equity	-28.3%-28.5pp	0.3%-16.8pp	17.1%+13.3pp	3.8%-2.7pp	6.5%+4.2pp	2.3%
Return on Assets	-3.7%-3.7pp	0.0%-2.5pp	2.5%+2.0pp	0.6%-0.4pp	1.0%+0.6pp	0.4%
Current Ratio	1.25-0.0	1.26+0.2	1.02-0.0	1.05+0.1	1.00-0.1	1.08
Debt-to-Equity	5.94+1.4	4.56-0.5	5.08+0.1	5.00-0.3	5.31+1.3	4.03
FCF Margin	-3.2%-11.6pp	8.4%+9.6pp	-1.2%+20.5pp	-21.7%-1.6pp	-20.1%-10.3pp	-9.9%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q3'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.25-0.0	1.26+0.2	1.02-0.0	1.05+0.1	1.00-0.1	1.08+0.0	1.04+0.0	1.01
Debt-to-Equity	5.94+1.4	4.56-0.5	5.08+0.1	5.00-0.3	5.31+1.3	4.03+0.2	3.82+0.0	3.81
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Jinkosolar Hold's annual revenue?

Jinkosolar Hold (JKS) reported $9.4B in total revenue for fiscal year 2025. This represents a -25.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Jinkosolar Hold's revenue growing?

Jinkosolar Hold (JKS) revenue declined by 25.9% year-over-year, from $12.6B to $9.4B in fiscal year 2025.

Is Jinkosolar Hold profitable?

No, Jinkosolar Hold (JKS) reported a net income of -$635.6M in fiscal year 2025, with a net profit margin of -6.8%.

What is Jinkosolar Hold's EBITDA?

Jinkosolar Hold (JKS) had EBITDA of -$146.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Jinkosolar Hold's gross margin?

Jinkosolar Hold (JKS) had a gross margin of 2.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Jinkosolar Hold's operating margin?

Jinkosolar Hold (JKS) had an operating margin of -13.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Jinkosolar Hold's net profit margin?

Jinkosolar Hold (JKS) had a net profit margin of -6.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Jinkosolar Hold pay dividends?

Yes, Jinkosolar Hold (JKS) paid $0.38 per share in dividends during fiscal year 2025.

What is Jinkosolar Hold's return on equity (ROE)?

Jinkosolar Hold (JKS) has a return on equity of -28.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Jinkosolar Hold's free cash flow?

Jinkosolar Hold (JKS) generated -$300.8M in free cash flow during fiscal year 2025. This represents a -128.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Jinkosolar Hold's operating cash flow?

Jinkosolar Hold (JKS) generated $154.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Jinkosolar Hold's total assets?

Jinkosolar Hold (JKS) had $17.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Jinkosolar Hold's capital expenditures?

Jinkosolar Hold (JKS) invested $455.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Jinkosolar Hold spend on research and development?

Jinkosolar Hold (JKS) invested $128.3M in research and development during fiscal year 2025.

Does Jinkosolar Hold buy back shares?

Yes, Jinkosolar Hold (JKS) spent $568K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Jinkosolar Hold have outstanding?

Jinkosolar Hold (JKS) had 209M shares outstanding as of fiscal year 2025.

What is Jinkosolar Hold's current ratio?

Jinkosolar Hold (JKS) had a current ratio of 1.25 as of fiscal year 2025, which is considered adequate.

What is Jinkosolar Hold's debt-to-equity ratio?

Jinkosolar Hold (JKS) had a debt-to-equity ratio of 5.94 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Jinkosolar Hold's return on assets (ROA)?

Jinkosolar Hold (JKS) had a return on assets of -3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Jinkosolar Hold's Piotroski F-Score?

Jinkosolar Hold (JKS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Jinkosolar Hold's earnings high quality?

Jinkosolar Hold (JKS) has an earnings quality ratio of -0.24x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Jinkosolar Hold cover its interest payments?

Jinkosolar Hold (JKS) has an interest coverage ratio of -6.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Jinkosolar Hold?

Jinkosolar Hold (JKS) scores 9 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.