Is JinkoSolar Stock a Buy?
Leading solar panel manufacturer JinkoSolar's (NYSE: JKS) stock surged 158% in 2020, performing slightly better than top peer Canadian Solar (NASDAQ: CSIQ). Both solar stocks have significantly outperformed First Solar (NASDAQ: FSLR) stock during this timeframe. However, can JinkoSolar continue its outperformance in the years to come? Let's see if its stock is still a buy after its recent outperformance.
JinkoSolar is one of the world's largest solar panel manufacturers. It has seven production facilities in China, and one each in the U.S. and Malaysia. Having bulk of the production in China gives the company an edge in terms of lower production costs compared to its U.S.-based peers. The company's sales are globally diversified. While the geographical break up of 2020 sales are yet to be reported, we can get an idea of JinkoSolar's sales diversity from the previous year. Only about 18% of total revenue in 2019 came from its domestic China market -- meaning 82% of sales generated were in overseas markets. One-fourth of the company's revenue came from North America, while Europe accounted for around 18%, whereas the Asia Pacific region accounted for roughly 25% of 2019 sales.
Source Fool.com
