First Solar, Inc. (FSLR) vs JinkoSolar Holding Company Limited (JKS)

First Solar, Inc. and JinkoSolar Holding Company Limited are both Solar companies. First Solar, Inc. is the larger, with a market value of $19.2B against $435.3M — 44.2× the size. JinkoSolar Holding Company Limited has negative trailing earnings, so its P/E is not meaningful; First Solar, Inc. trades at 10.9×. First Solar, Inc. grew revenue faster over the last twelve months: 23.8% against −19.1%. First Solar, Inc. has the higher net margin (32.5% vs −5.87%) and the higher return on invested capital (13.1% vs −15.2%). Across the 19 metrics below, First Solar, Inc. leads on 15 and JinkoSolar Holding Company Limited on 4.

Valuation

Metric FSLR JKS Solar median
P/E 10.94 n/m 10.94
P/S 3.55 0.05 0.50
P/B 1.85 0.13 1.16
Price to free cash flow 12.74 n/m 10.04
EV/EBITDA 7.40 n/m 9.58
EV/Sales 3.28 0.09 0.68
Earnings yield 9.14% (105.07%) 0.00%
Free cash flow yield 7.85% (633.67%) 0.00%

Profitability

Metric FSLR JKS Solar median
Gross margin 44.02% 4.68% 31.92%
Operating margin 33.65% (11.51%) (9.70%)
Net margin 32.47% (5.87%) (8.48%)
Free cash flow margin 27.89% 0.00% (2.95%)
Return on equity 18.51% 0.00% 5.34%
Return on assets 13.30% (2.91%) (5.36%)
Return on invested capital 13.10% (15.23%) (5.27%)

Growth

Metric FSLR JKS Solar median
Revenue growth (TTM) 23.82% (19.06%) 16.97%
EPS growth (last fiscal year) 18.22% (1,668.12%) 47.20%
Revenue growth, 5-year CAGR 14.00% 11.71% 14.00%
Net income growth, 5-year CAGR 30.85% 0.00% 0.00%

Health

Metric FSLR JKS Solar median
Debt to equity 0.00 1.10 0.09
Current ratio 2.52 1.13 1.33
Net debt to EBITDA (1.11) (14.38) 0.03

Dividend

Metric FSLR JKS Solar median
Dividend yield — 16.89% —
Payout ratio — — —

Size

Metric FSLR JKS Solar median
Market cap 19.22b 435.25m 33.65m

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