JKSJinkoSolar Holding Co., Ltd.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and big price swings.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -87% · now 68% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can JKS take a bad year?
JinkoSolar Holding Co., Ltd. carries $8.17B of net debt at 4.67× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q4 2020 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.67×
Net debt / EBITDA
- Debt / equity
- 1.62×
Debt / equity
- Annualised volatility
- 65%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ4 2020
- $16.2B
- Cash and short-term investments
- $8.05B
- Net debt
- $8.17B
- EBITDA, trailing twelve months
- $1.75B
- Operating profit, trailing twelve months
- $850M
- Debt / equity
- 1.62×
- Total debt / EBITDA
- 9.28×
- Annualised volatilitytwo years of daily moves
- 65%
- Worst drawdown on file
- −87%
- Below its 52-week high
- 69%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.