Trina Solar Co Ltd (688599) - Net Assets
Based on the latest financial reports, Trina Solar Co Ltd (688599) has net assets worth CN¥25.61 Billion CNY (≈ $3.75 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥116.15 Billion ≈ $17.00 Billion USD) and total liabilities (CN¥90.54 Billion ≈ $13.25 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Trina Solar Co Ltd's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥25.61 Billion |
| % of Total Assets | 22.05% |
| Annual Growth Rate | 26.84% |
| 5-Year Change | 46.08% |
| 10-Year Change | 191.62% |
| Growth Volatility | 166.41 |
Trina Solar Co Ltd - Net Assets Trend (2007–2025)
This chart illustrates how Trina Solar Co Ltd's net assets have evolved over time, based on quarterly financial data. See Trina Solar Co Ltd defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Trina Solar Co Ltd (2007–2025)
The table below shows the annual net assets of Trina Solar Co Ltd from 2007 to 2025. For live valuation and market cap data, see market cap of Trina Solar Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥26.53 Billion ≈ $3.88 Billion |
-17.70% |
| 2024-12-31 | CN¥32.24 Billion ≈ $4.72 Billion |
-11.77% |
| 2023-12-31 | CN¥36.54 Billion ≈ $5.35 Billion |
+26.91% |
| 2022-12-31 | CN¥28.80 Billion ≈ $4.21 Billion |
+58.53% |
| 2021-12-31 | CN¥18.16 Billion ≈ $2.66 Billion |
+15.69% |
| 2020-12-31 | CN¥15.70 Billion ≈ $2.30 Billion |
+23.64% |
| 2019-12-31 | CN¥12.70 Billion ≈ $1.86 Billion |
+5.45% |
| 2018-12-31 | CN¥12.04 Billion ≈ $1.76 Billion |
+5.81% |
| 2017-12-31 | CN¥11.38 Billion ≈ $1.67 Billion |
+25.09% |
| 2016-12-31 | CN¥9.10 Billion ≈ $1.33 Billion |
+734.34% |
| 2015-12-31 | CN¥1.09 Billion ≈ $159.58 Million |
+8.94% |
| 2014-12-31 | CN¥1.00 Billion ≈ $146.49 Million |
+21.71% |
| 2013-12-31 | CN¥822.48 Million ≈ $120.35 Million |
-6.73% |
| 2012-12-31 | CN¥881.78 Million ≈ $129.03 Million |
-23.01% |
| 2011-12-31 | CN¥1.15 Billion ≈ $167.60 Million |
-2.41% |
| 2010-12-31 | CN¥1.17 Billion ≈ $171.74 Million |
+73.30% |
| 2009-12-31 | CN¥677.23 Million ≈ $99.10 Million |
+56.38% |
| 2008-12-31 | CN¥433.06 Million ≈ $63.37 Million |
+17.84% |
| 2007-12-31 | CN¥367.49 Million ≈ $53.78 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Trina Solar Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1875.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CN¥22.37 Billion | 104.25% |
| Total Equity | CN¥21.46 Billion | 100.00% |
Trina Solar Co Ltd Competitors by Market Cap
The table below lists competitors of Trina Solar Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Patanjali Foods Limited
NSE:PATANJALI
|
$4.96 Billion |
|
Shenzhen Zhongjin Lingnan Nonfemet Co Ltd
SHE:000060
|
$4.96 Billion |
|
Scout24 AG
XETRA:G24
|
$4.96 Billion |
|
Meritage Corporation
NYSE:MTH
|
$4.96 Billion |
|
Bank BRISyariah Tbk PT
JK:BRIS
|
$4.96 Billion |
|
Firefly Aerospace Inc. Common Stock
NASDAQ:FLY
|
$4.96 Billion |
|
Shenzhen Salubris Pharmaceuticals Co Ltd
SHE:002294
|
$4.96 Billion |
|
Gan & Lee Pharmaceuticals Co Ltd
SHG:603087
|
$4.96 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Trina Solar Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 26,377,754,000 to 21,458,303,501, a change of -4,919,450,499 (-18.6%).
- Net loss of 6,993,954,000 reduced equity.
- Dividend payments of 1,037,061,028 reduced retained earnings.
- Other factors increased equity by 3,111,564,529.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-6.99 Billion | -32.59% |
| Dividends Paid | CN¥1.04 Billion | -4.83% |
| Other Changes | CN¥3.11 Billion | +14.5% |
| Total Change | CN¥- | -18.65% |
Book Value vs Market Value Analysis
This analysis compares Trina Solar Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.46x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 93.35x to 1.46x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | CN¥0.16 | CN¥14.47 | x |
| 2008-12-31 | CN¥0.16 | CN¥14.47 | x |
| 2009-12-31 | CN¥0.22 | CN¥14.47 | x |
| 2010-12-31 | CN¥0.31 | CN¥14.47 | x |
| 2011-12-31 | CN¥0.33 | CN¥14.47 | x |
| 2012-12-31 | CN¥1.25 | CN¥14.47 | x |
| 2013-12-31 | CN¥1.16 | CN¥14.47 | x |
| 2014-12-31 | CN¥1.14 | CN¥14.47 | x |
| 2015-12-31 | CN¥1.00 | CN¥14.47 | x |
| 2016-12-31 | CN¥2.02 | CN¥14.47 | x |
| 2017-12-31 | CN¥7.33 | CN¥14.47 | x |
| 2018-12-31 | CN¥6.51 | CN¥14.47 | x |
| 2019-12-31 | CN¥6.72 | CN¥14.47 | x |
| 2020-12-31 | CN¥7.85 | CN¥14.47 | x |
| 2021-12-31 | CN¥8.25 | CN¥14.47 | x |
| 2022-12-31 | CN¥12.23 | CN¥14.47 | x |
| 2023-12-31 | CN¥13.80 | CN¥14.47 | x |
| 2024-12-31 | CN¥12.18 | CN¥14.47 | x |
| 2025-12-31 | CN¥9.91 | CN¥14.47 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Trina Solar Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -32.59%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -10.40%
- • Asset Turnover: 0.58x
- • Equity Multiplier: 5.36x
- Recent ROE (-32.59%) is below the historical average (4.57%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 9.72% | 11.84% | 0.50x | 1.63x | CN¥-1.02 Million |
| 2008 | 14.17% | 7.38% | 0.88x | 2.17x | CN¥18.05 Million |
| 2009 | 14.41% | 11.55% | 0.55x | 2.29x | CN¥29.86 Million |
| 2010 | 26.54% | 16.77% | 0.87x | 1.82x | CN¥194.09 Million |
| 2011 | -3.30% | -1.85% | 0.71x | 2.51x | CN¥-152.33 Million |
| 2012 | -30.24% | -20.56% | 0.45x | 3.25x | CN¥-354.71 Million |
| 2013 | -54.14% | -4.06% | 4.27x | 3.12x | CN¥-527.38 Million |
| 2014 | 37.29% | 2.60% | 4.37x | 3.29x | CN¥265.51 Million |
| 2015 | 47.25% | 2.52% | 4.20x | 4.47x | CN¥391.35 Million |
| 2016 | 5.61% | 2.12% | 0.61x | 4.36x | CN¥-374.62 Million |
| 2017 | 5.11% | 2.07% | 0.72x | 3.44x | CN¥-525.81 Million |
| 2018 | 4.68% | 2.23% | 0.81x | 2.61x | CN¥-604.18 Million |
| 2019 | 5.30% | 2.75% | 0.63x | 3.05x | CN¥-561.63 Million |
| 2020 | 8.15% | 4.18% | 0.65x | 3.02x | CN¥-279.28 Million |
| 2021 | 10.56% | 4.06% | 0.70x | 3.71x | CN¥96.12 Million |
| 2022 | 13.89% | 4.33% | 0.94x | 3.42x | CN¥1.02 Billion |
| 2023 | 17.50% | 4.87% | 0.94x | 3.82x | CN¥2.36 Billion |
| 2024 | -13.05% | -4.29% | 0.65x | 4.70x | CN¥-6.08 Billion |
| 2025 | -32.59% | -10.40% | 0.58x | 5.36x | CN¥-9.14 Billion |
Industry Comparison
This section compares Trina Solar Co Ltd's net assets metrics with peer companies in the Solar industry.
Industry Context
- Industry: Solar
- Average net assets among peers: $2,251,263,194
- Average return on equity (ROE) among peers: -4.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Trina Solar Co Ltd (688599) | CN¥25.61 Billion | 9.72% | 3.54x | $4.96 Billion |
| Shenzhen Topraysolar Co Ltd (002218) | $2.61 Billion | 1.19% | 0.63x | $845.69 Million |
| JA Solar Technology Co Ltd (002459) | $235.47 Million | 24.95% | 2.73x | $4.03 Billion |
| GCL System Integration Technology Co Ltd (002506) | $4.44 Billion | 1.25% | 2.61x | $2.63 Billion |
| Changzhou Almaden Co Ltd (002623) | $2.36 Billion | 5.84% | 0.72x | $492.86 Million |
| Hainan Drinda Automotive Trim Co Ltd (002865) | $3.66 Billion | -38.68% | 3.48x | $2.14 Billion |
| Henan Yicheng New Energy Co Ltd (300080) | $3.27 Billion | 0.58% | 0.91x | $1.04 Billion |
| Gansu Golden Glass Technologies Co Ltd (300093) | $827.16 Million | 5.38% | 0.27x | $731.72 Million |
| Risen Energy (300118) | $2.05 Billion | 3.69% | 1.00x | $2.22 Billion |
| Lingda Group Co Ltd (300125) | $412.04 Million | -63.58% | 3.73x | $968.50 Million |
| Jolywood Suzhou Sunwatt Co Ltd (300393) | $2.65 Billion | 9.75% | 1.34x | $1.26 Billion |
About Trina Solar Co Ltd
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, phot… Read more