Stock 688599 TRINA SOLAR CO., LTD.
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Financials Trina Solar Co., Ltd.

Equities

688599

CNE100003ZR0

Renewable Energy Equipment & Services

End-of-day quote Shanghai S.E.
Other stock markets
 23:00:00 05/05/2024 BST 		5-day change 1st Jan Change
21.4 CNY +0.56% Intraday chart for Trina Solar Co., Ltd. +3.98% -24.99%
04-26 Trina Solar's Q1 Profit Plunges 71% MT
04-26 Jefferies Adjusts Trina Solar’s Price Target to 26.12 Yuan From 33.07 Yuan, Keeps at Buy MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 47,875 163,167 138,316 61,783 46,350 - -
Enterprise Value (EV) 1 47,875 169,433 136,418 66,772 58,617 61,411 46,350
P/E ratio 36.2 x 90.7 x 37.3 x 11.8 x 11.7 x 6.5 x 6.31 x
Yield - 0.29% 0.75% 2.22% 2.11% 3.68% 4%
Capitalization / Revenue 1.63 x 3.67 x 1.63 x 0.54 x 0.39 x 0.33 x 0.29 x
EV / Revenue 1.63 x 3.81 x 1.6 x 0.59 x 0.5 x 0.44 x 0.29 x
EV / EBITDA - 47.9 x 21.7 x 6.55 x 6.02 x 4.81 x 2.94 x
EV / FCF - -31.8 x 117 x 12.8 x 52.3 x 9.22 x 5.28 x
FCF Yield - -3.15% 0.85% 7.8% 1.91% 10.8% 18.9%
Price to Book - 9.75 x 5.26 x 2.01 x 1.35 x 1.08 x 1.05 x
Nbr of stocks (in thousands) 2,068,026 2,068,026 2,169,325 2,165,534 2,165,873 - -
Reference price 2 23.15 78.90 63.76 28.53 21.40 21.40 21.40
Announcement Date 24/02/21 22/02/22 23/02/23 23/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 29,418 44,480 85,052 113,392 118,149 140,048 161,831
EBITDA 1 - - 3,540 6,273 10,199 9,744 12,760 15,743
EBIT 1 - 1,433 2,261 4,078 6,955 5,224 8,853 9,359
Operating Margin - 4.87% 5.08% 4.79% 6.13% 4.42% 6.32% 5.78%
Earnings before Tax (EBT) 1 - 1,407 2,274 3,984 6,533 4,786 8,481 8,757
Net income 1 640.6 1,229 1,804 3,680 5,531 4,037 7,199 7,387
Net margin - 4.18% 4.06% 4.33% 4.88% 3.42% 5.14% 4.56%
EPS 2 0.3600 0.6400 0.8700 1.710 2.420 1.832 3.291 3.391
Free Cash Flow 1 - - -5,329 1,161 5,205 1,121 6,658 8,771
FCF margin - - -11.98% 1.37% 4.59% 0.95% 4.75% 5.42%
FCF Conversion (EBITDA) - - - 18.51% 51.04% 11.5% 52.18% 55.71%
FCF Conversion (Net income) - - - 31.55% 94.11% 27.77% 92.49% 118.73%
Dividend per Share 2 - - 0.2300 0.4780 0.6330 0.4507 0.7870 0.8555
Announcement Date 20/05/20 24/02/21 22/02/22 23/02/23 23/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - - - 26,853 21,319 28,065 31,736 32,272 18,256 34,067 37,413 44,716
EBITDA - - - - - - - - - - - -
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 543.2 1,269 1,133 - 1,768 1,772 1,537 - - - - -
Net margin - - - - 8.29% 6.31% 4.84% - - - - -
EPS - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 27/04/22 25/08/22 30/10/22 23/02/23 26/04/23 29/08/23 27/10/23 23/02/24 25/04/24 - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 6,265 - 4,989 12,267 15,061 -
Net Cash position 1 - - - 1,898 - - - -
Leverage (Debt/EBITDA) - - 1.77 x - 0.4892 x 1.259 x 1.18 x -
Free Cash Flow 1 - - -5,329 1,161 5,205 1,121 6,659 8,771
ROE (net income / shareholders' equity) - 8.94% 11.3% 16.2% 19% 11.6% 16.8% 16.3%
ROA (Net income/ Total Assets) - 3% 3.44% 4.55% - 3.8% 5.11% 5.99%
Assets 1 - 40,935 52,477 80,883 - 106,287 141,007 123,272
Book Value Per Share 2 - - 8.090 12.10 14.20 15.90 19.80 20.40
Cash Flow per Share 2 - 1.450 0.5300 4.250 11.00 5.260 5.160 7.980
Capex 1 - - 6,427 8,076 18,791 7,863 6,773 7,528
Capex / Sales - - 14.45% 9.5% 16.57% 6.66% 4.84% 4.65%
Announcement Date 20/05/20 24/02/21 22/02/22 23/02/23 23/02/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Trina Solar Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
21.28 CNY
Average target price
26.23 CNY
Spread / Average Target
+23.25%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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