DAQO New Energy Corp. (DQ) vs Jinko Holdings Limited - Unsponsored ADR (JKS)

DAQO New Energy Corp. and Jinko Holdings Limited - Unsponsored ADR are both Solar companies. DAQO New Energy Corp. is the larger, with a market value of $803.9M against $517.2M — 1.6× the size. Jinko Holdings Limited - Unsponsored ADR grew revenue faster over the last twelve months: −19.1% against −20.9%. Jinko Holdings Limited - Unsponsored ADR has the higher net margin (−5.87% vs −45.5%) and the lower return on invested capital (−15.2% vs −5.41%). Across the 17 metrics below, Jinko Holdings Limited - Unsponsored ADR leads on 9 and DAQO New Energy Corp. on 8.

Valuation

Metric DQ JKS Solar median
P/E n/m n/m 11.37
P/S 1.59 0.06 0.60
P/B 0.14 0.15 0.90
Price to free cash flow n/m n/m 15.06
EV/EBITDA 2.34 n/m 10.71
EV/Sales (1.61) 0.10 0.85
Earnings yield (31.12%) (90.06%) (16.54%)
Free cash flow yield (32.73%) (543.15%) (1.15%)

Profitability

Metric DQ JKS Solar median
Gross margin (52.89%) 4.68% 28.56%
Operating margin (68.96%) (11.51%) (7.89%)
Net margin (45.46%) (5.87%) (7.34%)
Free cash flow margin (50.12%) 0.00% (1.48%)
Return on equity 0.00% 0.00% 7.14%
Return on assets (3.58%) (2.91%) (3.25%)
Return on invested capital (5.41%) (15.23%) (4.96%)

Growth

Metric DQ JKS Solar median
Revenue growth (TTM) (20.94%) (19.06%) 10.49%
EPS growth (last fiscal year) 51.53% (1,668.12%) 51.53%
Revenue growth, 5-year CAGR (0.30%) 11.71% 13.86%
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 0.01
Current ratio 4.54 1.13 1.50
Net debt to EBITDA 68.42 (14.38) 0.19

Dividend

Metric DQ JKS Solar median
Dividend yield — 14.48% —
Payout ratio — — —

Size

Metric DQ JKS Solar median
Market cap 803.92m 517.18m 76.52m

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