TRINA SOLAR CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 20.03 CNY | -2.63% |
|
-6.92% | -29.79% |
| May. 17 | Trina Solar Elects Vice Chairman; Shares Slide 3% | MT |
| May. 08 | Trina Solar Co., Ltd. Announces Ramping Up Production At Its Manufacturing Facility in Northern Vietnam | CI |
Valuation
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 47,875 | 163,167 | 138,316 | 61,783 | 43,382 | - | - |
| Enterprise Value (EV) 1 | 47,875 | 169,433 | 136,418 | 66,772 | 55,649 | 58,443 | 43,382 |
| P/E ratio | 36.2 x | 90.7 x | 37.3 x | 11.8 x | 10.9 x | 6.09 x | 5.91 x |
| Yield | - | 0.29% | 0.75% | 2.22% | 2.23% | 3.87% | 4.13% |
| Capitalization / Revenue | 1.63 x | 3.67 x | 1.63 x | 0.54 x | 0.37 x | 0.32 x | 0.27 x |
| EV / Revenue | 1.63 x | 3.81 x | 1.6 x | 0.59 x | 0.48 x | 0.43 x | 0.27 x |
| EV / EBITDA | - | 47.9 x | 21.7 x | 6.55 x | 5.71 x | 4.58 x | 2.76 x |
| EV / FCF | - | -31.8 x | 117 x | 12.8 x | 49.6 x | 8.78 x | 4.95 x |
| FCF Yield | - | -3.15% | 0.85% | 7.8% | 2.01% | 11.4% | 20.2% |
| Price to Book | - | 9.75 x | 5.26 x | 2.01 x | 1.27 x | 1.04 x | 1.01 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 | 20.03 | 20.03 | 20.03 |
| Announcement Date | 2/24/21 | 2/22/22 | 2/23/23 | 2/23/24 | - | - | - |
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 | 116,480 | 135,309 | 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% | 4.48% | 6.54% | 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% | 3.47% | 5.32% | 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% | 0.96% | 4.92% | 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 | 0.4473 | 0.7745 | 0.8278 |
| Announcement Date | 5/20/20 | 2/24/21 | 2/22/22 | 2/23/23 | 2/23/24 | - | - | - |
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 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | - | 26,853 | 21,319 | 28,065 | 31,736 | 32,272 | 18,256 | 24,851 | 28,101 | 28,577 | 20,637 | 27,167 |
| 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 | 4/27/22 | 8/25/22 | 10/30/22 | 2/23/23 | 4/26/23 | 8/29/23 | 10/27/23 | 2/23/24 | 4/25/24 | - | - | - | - | - |
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% | 11.4% | 15.7% | 15.9% |
| ROA (Net income/ Total Assets) | - | 3% | 3.44% | 4.55% | - | 3.64% | 4.63% | 5.61% |
| Assets 1 | - | 40,935 | 52,477 | 80,883 | - | 110,867 | 155,351 | 131,583 |
| Book Value Per Share 2 | - | - | 8.090 | 12.10 | 14.20 | 15.70 | 19.20 | 19.90 |
| Cash Flow per Share 2 | - | 1.450 | 0.5300 | 4.250 | 11.00 | 4.690 | 4.890 | 6.320 |
| Capex 1 | - | - | 6,427 | 8,076 | 18,791 | 7,863 | 6,773 | 7,528 |
| Capex / Sales | - | - | 14.45% | 9.5% | 16.57% | 6.75% | 5.01% | 4.65% |
| Announcement Date | 5/20/20 | 2/24/21 | 2/22/22 | 2/23/23 | 2/23/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
20.03
CNY
Average target price
26.23
CNY
Spread / Average Target
+30.94%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -29.79% | 6.17B | |
| +108.33% | 21.61B | |
| +15.81% | 21.54B | |
| -16.03% | 3.15B | |
| -18.32% | 2.49B | |
| -34.76% | 1.72B | |
| -22.28% | 1.19B | |
| +1.18% | 1.04B | |
| +108.50% | 973M | |
| -13.70% | 928M |
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