Trina Solar Co Ltd (688599) Fair Value & Analysis
Technology · CN · Market cap 31.7B CNY (≈ $4.7B) · ISIN CNE100003ZR0
What is Trina Solar Co Ltd really worth?
Below-average quality, and trading another 41% above our fair value of ¥7.97.
Strengths
Risks
Fair value as of: Aug 19, 2026
From 7 valuation models · updated 16 days ago
Share price −21.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (¥4.25 to ¥11.69). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range ¥11.16 – ¥85.92 · fair‑value band ¥4.25 – ¥11.69 · the ¥11.25 price screens above the ¥7.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Trina Solar Co Ltd (688599) currently trades at ¥11.25, while our model-based Fair Value estimate is ¥7.97, implying the stock looks roughly 41.2% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥23.97 per share, and 5 of the 7 models we run sit above the ¥11.25 price. Bear case: the Asset-Based group reads lowest at ¥6.14, and 2 of the 7 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Trina Solar Co Ltd generated revenue of 69.5B CNY at a net margin of −8.6%. Revenue grew 17.4% year over year. It earns a return on equity of −21.4%. Net debt stands at 10.4B CNY. Fundamentals as of Aug 19, 2026
Our scenario range runs from ¥4.25 (bear case) to ¥11.69 (bull case); at ¥11.25, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 54% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −29%, 688599 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 7 models by family
Widest divergence: DCF Models (¥23.97) versus Asset-Based (¥6.14). Highest evidence: FCF DCF (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 25
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Trina Solar Co., Ltd. engages in the research and development, production, and sales of photovoltaic (PV) modules in China, Europe, North and Latin America, the United States, Japan, the Asia Pacific, the Middle East, and Africa. It offers silicon photovoltaic modules and monocrystalline silicon solar cells.
Full company description
Trina Solar Co., Ltd. engages in the research and development, production, and sales of photovoltaic (PV) modules in China, Europe, North and Latin America, the United States, Japan, the Asia Pacific, the Middle East, and Africa. It offers silicon photovoltaic modules and monocrystalline silicon solar cells. The company also provides solutions, such as solar modules, energy storage products, photovoltaic brackets, and other products, and inverters. In addition, it offers photovoltaic power generation, photovoltaic power station operation and maintenance, and photovoltaic power station project construction management services, as well as smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. The company was founded in 1997 and is headquartered in Changzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Trina Solar Co Ltd reported revenue of 67.3B CNY in FY2025 versus 44.6B CNY in FY2021, a compound +10.8%/yr. Reported net income was −7.0B CNY in FY2025.
688599 screens 41% overvalued. Compare with First Solar, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Where AI Meets Green Energy: Trina Solar Leads the Next Wave of Electricity-Computing Synergy Infrastructure
- U.S. Patent Trial and Appeal Board Invalidates Trina's TOPCon Patents
Peer Group
Solar · 109 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $210.10 | $392.12 | +87% |
| Nextpower Inc NXT | $103.67 | $69.61 | −33% |
| Waaree Energies Limited WAAREEENER | ₹2,624 | ₹2,709 | +3% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | −6% |
| Jinko Solar Co 688223 | ¥4.16 | ¥6.47 | +56% |
| Enphase Energy, Inc ENPH | $39.25 | $24.15 | −38% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | −34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | −36% |
| JA Solar Technology Co 002459 | ¥6.81 | ¥3.32 | −51% |
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