DAQO New Energy Corp. (DQ) vs JinkoSolar Holding Company Limited (JKS)

DAQO New Energy Corp. and JinkoSolar Holding Company Limited are both Solar companies. DAQO New Energy Corp. is the larger, with a market value of $774.8M against $486.0M — 1.6× the size. DAQO New Energy Corp. grew revenue faster over the last twelve months: −6.28% against −19.1%. JinkoSolar Holding Company Limited has the higher net margin (−5.87% vs −34.5%) and the lower return on invested capital (−15.2% vs −4.45%). Both pay a dividend; DAQO New Energy Corp. yields more (1.15% vs 0.95%). Across the 18 metrics below, DAQO New Energy Corp. leads on 10 and JinkoSolar Holding Company Limited on 8.

Valuation

Metric DQ JKS Solar median
P/E n/m n/m 10.93
P/S 0.28 0.06 0.54
P/B 0.03 0.14 1.44
Price to free cash flow n/m n/m 9.91
EV/EBITDA 4.89 n/m 9.90
EV/Sales (2.55) 0.10 0.74
Earnings yield (24.76%) (111.41%) 0.00%
Free cash flow yield (174.96%) (383.19%) 0.00%

Profitability

Metric DQ JKS Solar median
Gross margin (35.45%) 4.68% 31.92%
Operating margin (52.20%) (11.51%) (9.70%)
Net margin (34.50%) (5.87%) (8.48%)
Free cash flow margin (47.06%) 0.00% (2.95%)
Return on equity 0.00% 0.00% 5.34%
Return on assets (3.04%) (2.91%) (5.36%)
Return on invested capital (4.45%) (15.23%) (5.27%)

Growth

Metric DQ JKS Solar median
Revenue growth (TTM) (6.28%) (19.06%) 16.97%
EPS growth (last fiscal year) 51.53% (1,668.12%) —
Revenue growth, 5-year CAGR (0.30%) 7.89% 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DQ JKS Solar median
Debt to equity 0.00 1.10 0.09
Current ratio 5.81 1.13 1.33
Net debt to EBITDA 68.42 (14.38) 0.03

Dividend

Metric DQ JKS Solar median
Dividend yield 1.15% 0.95% —
Payout ratio 0.00 0.00 0.00

Size

Metric DQ JKS Solar median
Market cap 774.82m 486.01m 43.46m

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