JinkoSolar Holding Company Limited (JKS) vs Sunrun Inc. (RUN)

JinkoSolar Holding Company Limited and Sunrun Inc. are both Solar companies. Sunrun Inc. is the larger, with a market value of $1.9B against $486.0M — 3.9× the size. JinkoSolar Holding Company Limited has negative trailing earnings, so its P/E is not meaningful; Sunrun Inc. trades at 4.7×. Sunrun Inc. grew revenue faster over the last twelve months: 63.2% against −19.1%. Sunrun Inc. has the higher net margin (11.6% vs −5.87%) and the higher return on invested capital (0.31% vs −15.2%). Across the 18 metrics below, Sunrun Inc. leads on 12 and JinkoSolar Holding Company Limited on 6.

Valuation

Metric JKS RUN Solar median
P/E n/m 4.74 10.93
P/S 0.06 0.56 0.54
P/B 0.14 0.44 1.44
Price to free cash flow n/m n/m 9.91
EV/EBITDA n/m 19.02 9.90
EV/Sales 0.10 4.60 0.74
Earnings yield (111.41%) 21.09% 0.00%
Free cash flow yield (383.19%) (114.08%) 0.00%

Profitability

Metric JKS RUN Solar median
Gross margin 4.68% 35.29% 31.92%
Operating margin (11.51%) 2.66% (9.70%)
Net margin (5.87%) 11.59% (8.48%)
Free cash flow margin 0.00% (63.62%) (2.95%)
Return on equity 0.00% 9.92% 5.34%
Return on assets (2.91%) 1.81% (5.36%)
Return on invested capital (15.23%) 0.31% (5.27%)

Growth

Metric JKS RUN Solar median
Revenue growth (TTM) (19.06%) 63.23% 16.97%
EPS growth (last fiscal year) (1,668.12%) 113.35% —
Revenue growth, 5-year CAGR 7.89% 26.24% 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric JKS RUN Solar median
Debt to equity 1.10 3.46 0.09
Current ratio 1.13 1.42 1.33
Net debt to EBITDA (14.38) 22.50 0.03

Dividend

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

Size

Metric JKS RUN Solar median
Market cap 486.01m 1.90b 43.46m

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