Intrinsic value of JinkoSolar Holding ADR - JKS

Previous Close

$26.33

  Intrinsic Value

$24.84

stock screener

  Rating & Target

hold

-6%

  Value-price divergence*

+140%

Previous close

$26.33

 
Intrinsic value

$24.84

 
Up/down potential

-6%

 
Rating

hold

 
Value-price divergence*

+140%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of JKS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  38.46
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  3,096
  3,158
  3,231
  3,314
  3,407
  3,510
  3,623
  3,747
  3,880
  4,024
  4,179
  4,344
  4,520
  4,708
  4,907
  5,119
  5,343
  5,581
  5,832
  6,097
  6,378
  6,673
  6,985
  7,314
  7,660
  8,024
  8,408
  8,813
  9,238
  9,685
  10,156
Variable operating expenses, $m
 
  2,931
  2,998
  3,075
  3,161
  3,257
  3,363
  3,477
  3,601
  3,735
  3,878
  4,031
  4,195
  4,369
  4,554
  4,751
  4,959
  5,179
  5,412
  5,658
  5,918
  6,193
  6,482
  6,787
  7,108
  7,447
  7,803
  8,178
  8,573
  8,988
  9,425
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,900
  2,931
  2,998
  3,075
  3,161
  3,257
  3,363
  3,477
  3,601
  3,735
  3,878
  4,031
  4,195
  4,369
  4,554
  4,751
  4,959
  5,179
  5,412
  5,658
  5,918
  6,193
  6,482
  6,787
  7,108
  7,447
  7,803
  8,178
  8,573
  8,988
  9,425
Operating income, $m
  196
  227
  233
  239
  245
  253
  261
  270
  279
  290
  301
  313
  325
  339
  353
  369
  385
  402
  420
  439
  459
  480
  503
  527
  552
  578
  605
  635
  665
  697
  731
EBITDA, $m
  310
  296
  303
  311
  320
  329
  340
  351
  364
  377
  392
  407
  424
  442
  460
  480
  501
  523
  547
  572
  598
  626
  655
  686
  718
  753
  789
  827
  867
  908
  953
Interest expense (income), $m
  97
  87
  90
  94
  98
  104
  109
  115
  122
  130
  137
  146
  155
  165
  175
  186
  198
  210
  223
  237
  251
  267
  283
  300
  318
  337
  357
  378
  401
  424
  449
Earnings before tax, $m
  181
  141
  143
  145
  147
  149
  152
  154
  157
  160
  163
  167
  170
  174
  178
  183
  187
  192
  197
  202
  208
  214
  220
  226
  233
  240
  248
  256
  264
  273
  283
Tax expense, $m
  38
  38
  39
  39
  40
  40
  41
  42
  42
  43
  44
  45
  46
  47
  48
  49
  51
  52
  53
  55
  56
  58
  59
  61
  63
  65
  67
  69
  71
  74
  76
Net income, $m
  264
  103
  104
  106
  107
  109
  111
  113
  115
  117
  119
  122
  124
  127
  130
  133
  137
  140
  144
  148
  152
  156
  160
  165
  170
  176
  181
  187
  193
  199
  206

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  372
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,775
  3,470
  3,550
  3,641
  3,744
  3,857
  3,982
  4,117
  4,264
  4,422
  4,592
  4,774
  4,967
  5,174
  5,393
  5,625
  5,872
  6,133
  6,409
  6,700
  7,008
  7,333
  7,676
  8,037
  8,417
  8,818
  9,240
  9,684
  10,151
  10,643
  11,160
Adjusted assets (=assets-cash), $m
  3,403
  3,470
  3,550
  3,641
  3,744
  3,857
  3,982
  4,117
  4,264
  4,422
  4,592
  4,774
  4,967
  5,174
  5,393
  5,625
  5,872
  6,133
  6,409
  6,700
  7,008
  7,333
  7,676
  8,037
  8,417
  8,818
  9,240
  9,684
  10,151
  10,643
  11,160
Revenue / Adjusted assets
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
Average production assets, $m
  676
  688
  704
  722
  743
  765
  790
  817
  846
  877
  911
  947
  985
  1,026
  1,070
  1,116
  1,165
  1,217
  1,271
  1,329
  1,390
  1,455
  1,523
  1,594
  1,670
  1,749
  1,833
  1,921
  2,014
  2,111
  2,214
Working capital, $m
  192
  1,396
  1,428
  1,465
  1,506
  1,551
  1,602
  1,656
  1,715
  1,779
  1,847
  1,920
  1,998
  2,081
  2,169
  2,263
  2,362
  2,467
  2,578
  2,695
  2,819
  2,950
  3,087
  3,233
  3,386
  3,547
  3,717
  3,895
  4,083
  4,281
  4,489
Total debt, $m
  1,626
  1,302
  1,360
  1,426
  1,500
  1,582
  1,673
  1,771
  1,878
  1,992
  2,115
  2,247
  2,387
  2,537
  2,696
  2,864
  3,043
  3,232
  3,432
  3,644
  3,867
  4,103
  4,351
  4,613
  4,889
  5,179
  5,485
  5,807
  6,146
  6,502
  6,877
Total liabilities, $m
  2,840
  2,516
  2,574
  2,640
  2,714
  2,796
  2,887
  2,985
  3,092
  3,206
  3,329
  3,461
  3,601
  3,751
  3,910
  4,078
  4,257
  4,446
  4,646
  4,858
  5,081
  5,317
  5,565
  5,827
  6,103
  6,393
  6,699
  7,021
  7,360
  7,716
  8,091
Total equity, $m
  935
  954
  976
  1,001
  1,030
  1,061
  1,095
  1,132
  1,173
  1,216
  1,263
  1,313
  1,366
  1,423
  1,483
  1,547
  1,615
  1,687
  1,762
  1,843
  1,927
  2,017
  2,111
  2,210
  2,315
  2,425
  2,541
  2,663
  2,792
  2,927
  3,069
Total liabilities and equity, $m
  3,775
  3,470
  3,550
  3,641
  3,744
  3,857
  3,982
  4,117
  4,265
  4,422
  4,592
  4,774
  4,967
  5,174
  5,393
  5,625
  5,872
  6,133
  6,408
  6,701
  7,008
  7,334
  7,676
  8,037
  8,418
  8,818
  9,240
  9,684
  10,152
  10,643
  11,160
Debt-to-equity ratio
  1.739
  1.360
  1.390
  1.420
  1.460
  1.490
  1.530
  1.560
  1.600
  1.640
  1.680
  1.710
  1.750
  1.780
  1.820
  1.850
  1.880
  1.920
  1.950
  1.980
  2.010
  2.030
  2.060
  2.090
  2.110
  2.140
  2.160
  2.180
  2.200
  2.220
  2.240
Adjusted equity ratio
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  264
  103
  104
  106
  107
  109
  111
  113
  115
  117
  119
  122
  124
  127
  130
  133
  137
  140
  144
  148
  152
  156
  160
  165
  170
  176
  181
  187
  193
  199
  206
Depreciation, amort., depletion, $m
  114
  69
  70
  72
  74
  77
  79
  82
  85
  88
  91
  95
  99
  103
  107
  112
  116
  122
  127
  133
  139
  145
  152
  159
  167
  175
  183
  192
  201
  211
  221
Funds from operations, $m
  -871
  172
  175
  178
  182
  185
  190
  194
  199
  205
  210
  216
  223
  230
  237
  245
  253
  262
  271
  281
  291
  301
  313
  325
  337
  350
  364
  379
  394
  411
  428
Change in working capital, $m
  -610
  27
  32
  37
  41
  46
  50
  55
  59
  64
  68
  73
  78
  83
  88
  94
  99
  105
  111
  117
  124
  131
  138
  145
  153
  161
  170
  179
  188
  198
  208
Cash from operations, $m
  -261
  144
  143
  141
  140
  140
  140
  140
  140
  141
  142
  143
  145
  147
  149
  151
  154
  157
  160
  163
  167
  171
  175
  179
  184
  189
  195
  200
  206
  213
  220
Maintenance CAPEX, $m
  0
  -68
  -69
  -70
  -72
  -74
  -77
  -79
  -82
  -85
  -88
  -91
  -95
  -99
  -103
  -107
  -112
  -116
  -122
  -127
  -133
  -139
  -145
  -152
  -159
  -167
  -175
  -183
  -192
  -201
  -211
New CAPEX, $m
  -302
  -12
  -16
  -18
  -20
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -38
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -72
  -75
  -79
  -84
  -88
  -93
  -98
  -103
Cash from investing activities, $m
  -1,000
  -80
  -85
  -88
  -92
  -97
  -102
  -106
  -111
  -116
  -122
  -127
  -133
  -140
  -146
  -153
  -161
  -168
  -177
  -185
  -194
  -203
  -213
  -224
  -234
  -246
  -259
  -271
  -285
  -299
  -314
Free cash flow, $m
  -1,261
  64
  58
  53
  48
  43
  38
  34
  29
  25
  21
  16
  12
  7
  3
  -2
  -7
  -12
  -17
  -22
  -27
  -33
  -38
  -44
  -51
  -57
  -64
  -71
  -78
  -86
  -94
Issuance/(repayment) of debt, $m
  898
  48
  58
  66
  74
  82
  90
  98
  106
  115
  123
  132
  140
  150
  159
  169
  179
  189
  200
  211
  223
  236
  248
  262
  276
  291
  306
  322
  339
  356
  375
Issuance/(repurchase) of shares, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,079
  48
  58
  66
  74
  82
  90
  98
  106
  115
  123
  132
  140
  150
  159
  169
  179
  189
  200
  211
  223
  236
  248
  262
  276
  291
  306
  322
  339
  356
  375
Total cash flow (excl. dividends), $m
  -171
  112
  116
  119
  122
  125
  129
  132
  136
  140
  144
  148
  152
  157
  162
  167
  172
  178
  184
  190
  196
  203
  210
  217
  225
  233
  242
  251
  260
  270
  281
Retained Cash Flow (-), $m
  -310
  -19
  -22
  -25
  -28
  -31
  -34
  -37
  -40
  -43
  -47
  -50
  -53
  -57
  -60
  -64
  -68
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -105
  -110
  -116
  -122
  -129
  -135
  -142
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  93
  94
  94
  94
  94
  94
  95
  96
  96
  97
  98
  99
  100
  101
  103
  104
  106
  108
  109
  111
  113
  116
  118
  121
  123
  126
  129
  132
  135
  139
Discount rate, %
 
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
 
  87
  81
  74
  68
  62
  55
  49
  44
  38
  33
  28
  24
  20
  17
  14
  11
  9
  7
  5
  4
  3
  2
  1
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People’s Republic of China and internationally. The company operates through two segments, Manufacturing and Solar Power Projects. It offers solar modules, solar cells, silicon ingots, silicon wafers, and recovered silicon materials. The company is also involved in the solar power generation activities; engineering, procurement, and construction of solar power projects; connecting solar power projects to the grid; and operation and maintenance of the solar power projects, as well as provides solar system integration and processing services. JinkoSolar Holding Co., Ltd. sells its products to distributors, project developers, and system integrators under the JinkoSolar brand, as well as on an original equipment manufacturer basis. JinkoSolar Holding Co., Ltd. was founded in 2006 and is based in Shangrao, the People’s Republic of China.

FINANCIAL RATIOS  of  JinkoSolar Holding ADR (JKS)

Valuation Ratios
P/E Ratio 12.6
Price to Sales 1.1
Price to Book 3.6
Price to Tangible Book
Price to Cash Flow -12.8
Price to Free Cash Flow -5.9
Growth Rates
Sales Growth Rate 38.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 127.1%
Cap. Spend. - 3 Yr. Gr. Rate 34.3%
Financial Strength
Quick Ratio 0
Current Ratio 0.2
LT Debt to Equity 8.2%
Total Debt to Equity 173.9%
Interest Coverage 3
Management Effectiveness
Return On Assets 8.8%
Ret/ On Assets - 3 Yr. Avg. 6.5%
Return On Total Capital 12.1%
Ret/ On T. Cap. - 3 Yr. Avg. 8.2%
Return On Equity 33.8%
Return On Equity - 3 Yr. Avg. 25.2%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 18.1%
Gross Margin - 3 Yr. Avg. 19.5%
EBITDA Margin 12.7%
EBITDA Margin - 3 Yr. Avg. 12.5%
Operating Margin 6.3%
Oper. Margin - 3 Yr. Avg. 7.4%
Pre-Tax Margin 5.8%
Pre-Tax Margin - 3 Yr. Avg. 5.7%
Net Profit Margin 8.5%
Net Profit Margin - 3 Yr. Avg. 6.6%
Effective Tax Rate 21%
Eff/ Tax Rate - 3 Yr. Avg. 2.5%
Payout Ratio 0%

JKS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JKS stock intrinsic value calculation we used $3096 million for the last fiscal year's total revenue generated by JinkoSolar Holding ADR. The default revenue input number comes from 2016 income statement of JinkoSolar Holding ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JKS stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for JKS is calculated based on our internal credit rating of JinkoSolar Holding ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of JinkoSolar Holding ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JKS stock the variable cost ratio is equal to 92.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for JKS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.9% for JinkoSolar Holding ADR.

Corporate tax rate of 27% is the nominal tax rate for JinkoSolar Holding ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JKS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JKS are equal to 21.8%.

Life of production assets of 10 years is the average useful life of capital assets used in JinkoSolar Holding ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JKS is equal to 44.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $935 million for JinkoSolar Holding ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.705 million for JinkoSolar Holding ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of JinkoSolar Holding ADR at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
SOL ReneSola ADR 2.61 0.84  str.sell
JASO JA Solar Holdi 6.22 19.46  str.buy
CSIQ Canadian Solar 16.63 3.92  str.sell
HQCL Hanwha Q CELLS 7.33 12.40  str.buy

COMPANY NEWS

▶ Solar Stocks Are Heating Up   [Aug-09-17 01:00PM  Investopedia]
▶ 3 Stocks Billionaires Can't Buy but You Can   [Aug-05-17 11:32AM  Motley Fool]
▶ Sunny Times Ahead for the Solar Sector   [10:47AM  Investopedia]
▶ Solar Stocks Jump -- and Theres a Lot More Room to Run   [Jun-25-17 10:14AM  Motley Fool]
▶ Solar Stocks Fly As Trump Repeats Idea Of Border Wall Providing Energy   [Jun-22-17 04:21PM  Investor's Business Daily]
▶ Which Stocks Are Showing Rising Relative Strength?   [02:47PM  Investor's Business Daily]
▶ Solar Manufacturers Face a Tough Market in 2017   [Jun-08-17 01:39PM  Motley Fool]
▶ 3 Stocks With MercadoLibre-Like Return Potential   [Jun-07-17 09:25AM  Motley Fool]
▶ Story Stocks from Briefing.com   [10:44AM  Briefing.com]
▶ JinkoSolar posts 1Q profit   [06:17AM  Associated Press]
▶ This Week in Solar   [Jun-02-17 04:34PM  Motley Fool]
▶ This Week in Solar   [May-30-17 08:05AM  Motley Fool]
▶ Why Shares of JinkoSolar Holding Co. Plunged 11% Today   [May-26-17 04:27PM  Motley Fool]
▶ /C O R R E C T I O N -- JinkoSolar Co., Ltd./   [May-16-17 04:43AM  PR Newswire]
▶ JinkoSolar Files 2016 Annual Report on Form 20-F   [Mar-30-17 06:50AM  PR Newswire]
▶ Chinese Solar Manufacturers Are Their Own Worst Enemies   [Mar-28-17 03:23PM  Motley Fool]
▶ This Week in Solar   [Feb-25-17 09:03AM  at Motley Fool]
▶ The U.A.E. Sets Its Sights on Biggest Solar Farm Ever   [Feb-04-17 09:30AM  at Motley Fool]
▶ JinkoSolar Chaiman's Letter, 2016 and Beyond   [Jan-05-17 12:43AM  PR Newswire]
▶ Ignore Canadian Solar Inc.: Here Are 3 Better Stocks   [Dec-15-16 08:05AM  at Motley Fool]
▶ Beaten Down Stocks Offering Good Value (JKS, KEP)   [Dec-12-16 01:00PM  at Investopedia]
▶ Is Entercom Communications Corp. (ETM) A Good Stock To Buy?   [Dec-09-16 02:23PM  at Insider Monkey]
Stock chart of JKS Financial statements of JKS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.