JinkoSolar Holding Co., Ltd.

DB:ZJS1 Stock Report

Market Cap: €1.1b

JinkoSolar Holding Valuation

Is ZJS1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ZJS1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ZJS1 (€21.5) is trading below our estimate of fair value (€279.19)

Significantly Below Fair Value: ZJS1 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ZJS1?

Other financial metrics that can be useful for relative valuation.

ZJS1 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.3x
Enterprise Value/EBITDA2.6x
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

How does ZJS1's PE Ratio compare to its peers?

The above table shows the PE ratio for ZJS1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.7x
ELG Elmos Semiconductor
10.9x4.2%€1.1b
IFX Infineon Technologies
18.6x15.2%€39.5b
SMHN SÜSS MicroTec
44x5.3%€1.3b
AIXA AIXTRON
13.4x6.2%€1.7b
ZJS1 JinkoSolar Holding
4.7x18.2%€1.2b

Price-To-Earnings vs Peers: ZJS1 is good value based on its Price-To-Earnings Ratio (4.7x) compared to the peer average (21.7x).


Price to Earnings Ratio vs Industry

How does ZJS1's PE Ratio compare vs other companies in the European Semiconductor Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a13.6%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a13.6%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: ZJS1 is good value based on its Price-To-Earnings Ratio (4.7x) compared to the European Semiconductor industry average (16.9x).


Price to Earnings Ratio vs Fair Ratio

What is ZJS1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ZJS1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.7x
Fair PE Ratio19.9x

Price-To-Earnings vs Fair Ratio: ZJS1 is good value based on its Price-To-Earnings Ratio (4.7x) compared to the estimated Fair Price-To-Earnings Ratio (19.9x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ZJS1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€22.00
€27.84
+26.5%
51.8%€60.25€16.41n/a7
Oct ’25€22.60
€26.40
+16.8%
55.1%€59.65€16.24n/a7
Sep ’25€17.10
€27.50
+60.8%
51.0%€59.81€18.10n/a7
Aug ’25€18.50
€29.21
+57.9%
47.9%€60.44€18.29n/a7
Jul ’25€19.04
€31.61
+66.0%
41.4%€61.56€21.42n/a7
Jun ’25€27.10
€34.50
+27.3%
38.7%€60.79€21.15n/a7
May ’25€22.25
€32.97
+48.2%
42.3%€61.92€21.55n/a7
Apr ’25€23.40
€32.68
+39.7%
41.2%€60.88€23.03n/a7
Mar ’25€25.05
€41.24
+64.6%
40.0%€71.06€23.07n/a8
Feb ’25€24.60
€47.24
+92.0%
35.2%€70.93€27.64n/a8
Jan ’25€34.00
€51.76
+52.2%
32.4%€72.76€28.35n/a7
Dec ’24€30.00
€51.76
+72.5%
32.4%€72.76€28.35n/a7
Nov ’24€29.35
€51.76
+76.4%
32.4%€72.76€28.35n/a7
Oct ’24€28.70
€52.79
+83.9%
28.5%€72.90€25.56€22.607
Sep ’24€31.80
€52.06
+63.7%
25.4%€70.81€30.35€17.107
Aug ’24€37.50
€61.36
+63.6%
18.7%€72.98€35.56€18.508
Jul ’24€39.95
€61.36
+53.6%
18.7%€72.98€35.56€19.048
Jun ’24€39.30
€61.36
+56.1%
18.7%€72.98€35.56€27.108
May ’24€44.60
€61.26
+37.3%
20.9%€78.85€34.49€22.258
Apr ’24€47.50
€62.56
+31.7%
21.5%€80.98€35.42€23.408
Mar ’24€53.30
€62.64
+17.5%
20.1%€80.94€38.19€25.058
Feb ’24€52.00
€62.86
+20.9%
22.1%€87.05€37.80€24.608
Jan ’24€38.50
€65.18
+69.3%
25.5%€94.77€38.14€34.008
Dec ’23€47.90
€65.18
+36.1%
25.5%€94.77€38.14€30.008
Nov ’23€48.36
€65.75
+35.9%
25.5%€95.59€38.47€29.358
Oct ’23€57.00
€68.25
+19.7%
24.8%€96.99€35.95€28.708

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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