Enphase Energy, Inc. (ENPH) vs Jinko Holdings Limited - Unsponsored ADR (JKS)

Enphase Energy, Inc. and Jinko Holdings Limited - Unsponsored ADR are both Solar companies. Enphase Energy, Inc. is the larger, with a market value of $3.8B against $517.2M — 7.4× the size. Jinko Holdings Limited - Unsponsored ADR has negative trailing earnings, so its P/E is not meaningful; Enphase Energy, Inc. trades at 42.5×. Jinko Holdings Limited - Unsponsored ADR grew revenue faster over the last twelve months: −19.1% against −19.9%. Enphase Energy, Inc. has the higher net margin (7.49% vs −5.87%) and the higher return on invested capital (3.59% vs −15.2%). Across the 19 metrics below, Enphase Energy, Inc. leads on 14 and Jinko Holdings Limited - Unsponsored ADR on 5.

Valuation

Metric ENPH JKS Solar median
P/E 42.48 n/m 11.37
P/S 3.18 0.06 0.60
P/B 3.11 0.15 0.90
Price to free cash flow 29.65 n/m 15.06
EV/EBITDA 30.18 n/m 10.71
EV/Sales 3.41 0.10 0.85
Earnings yield 2.35% (90.06%) (16.54%)
Free cash flow yield 3.37% (543.15%) (1.15%)

Profitability

Metric ENPH JKS Solar median
Gross margin 45.78% 4.68% 28.56%
Operating margin 4.19% (11.51%) (7.89%)
Net margin 7.49% (5.87%) (7.34%)
Free cash flow margin 11.17% 0.00% (1.48%)
Return on equity 8.12% 0.00% 7.14%
Return on assets 2.93% (2.91%) (3.25%)
Return on invested capital 3.59% (15.23%) (4.96%)

Growth

Metric ENPH JKS Solar median
Revenue growth (TTM) (19.90%) (19.06%) 10.49%
EPS growth (last fiscal year) 72.00% (1,668.12%) 51.53%
Revenue growth, 5-year CAGR 13.72% 11.71% 13.86%
Net income growth, 5-year CAGR 5.14% 0.00% 0.00%

Health

Metric ENPH JKS Solar median
Debt to equity 0.46 1.10 0.01
Current ratio 4.09 1.13 1.50
Net debt to EBITDA (1.29) (14.38) 0.19

Dividend

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

Size

Metric ENPH JKS Solar median
Market cap 3.83b 517.18m 76.52m

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