JinkoSolar Holding Company Limited (JKS) vs Shoals Technologies Group, Inc. (SHLS)

JinkoSolar Holding Company Limited and Shoals Technologies Group, Inc. are both Solar companies. Shoals Technologies Group, Inc. is the larger, with a market value of $1.3B against $486.0M — 2.6× the size. JinkoSolar Holding Company Limited has negative trailing earnings, so its P/E is not meaningful; Shoals Technologies Group, Inc. trades at 39.7×. Shoals Technologies Group, Inc. grew revenue faster over the last twelve months: 46.9% against −19.1%. Shoals Technologies Group, Inc. has the higher net margin (5.41% vs −5.87%) and the higher return on invested capital (4.89% vs −15.2%). Across the 19 metrics below, Shoals Technologies Group, Inc. leads on 13 and JinkoSolar Holding Company Limited on 6.

Valuation

Metric JKS SHLS Solar median
P/E n/m 39.69 10.93
P/S 0.06 2.13 0.54
P/B 0.14 2.03 1.44
Price to free cash flow n/m n/m 9.91
EV/EBITDA n/m 18.19 9.90
EV/Sales 0.10 2.45 0.74
Earnings yield (111.41%) 2.52% 0.00%
Free cash flow yield (383.19%) (4.11%) 0.00%

Profitability

Metric JKS SHLS Solar median
Gross margin 4.68% 31.92% 31.92%
Operating margin (11.51%) 10.63% (9.70%)
Net margin (5.87%) 5.41% (8.48%)
Free cash flow margin 0.00% (8.77%) (2.95%)
Return on equity 0.00% 5.34% 5.34%
Return on assets (2.91%) 3.51% (5.36%)
Return on invested capital (15.23%) 4.89% (5.27%)

Growth

Metric JKS SHLS Solar median
Revenue growth (TTM) (19.06%) 46.88% 16.97%
EPS growth (last fiscal year) (1,668.12%) 42.86% —
Revenue growth, 5-year CAGR 7.89% 22.05% 14.00%
Net income growth, 5-year CAGR 0.00% (0.11%) 0.00%

Health

Metric JKS SHLS Solar median
Debt to equity 1.10 0.32 0.09
Current ratio 1.13 2.25 1.33
Net debt to EBITDA (14.38) 1.83 0.03

Dividend

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

Size

Metric JKS SHLS Solar median
Market cap 486.01m 1.25b 43.46m

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