Stock Analysis on Net
Stock Analysis on Net

SolarEdge Technologies Inc. (NASDAQ:SEDG)

This company has been moved to the archive! The financial data has not been updated since February 22, 2023.

Analysis of Investments

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

SolarEdge Technologies Inc., adjustment to net income attributable to SolarEdge Technologies, Inc.

US$ in thousands

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income attributable to SolarEdge Technologies, Inc. (as reported) 93,779 169,170 140,322 146,549 128,833
Add: Net change related to available-for-sale securities (20,740) (4,949) (24) 920 (223)
Net income attributable to SolarEdge Technologies, Inc. (adjusted) 73,039 164,221 140,298 147,469 128,610

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

SolarEdge Technologies Inc., adjusted profitability ratios

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net Profit Margin
Reported net profit margin 3.02% 8.61% 9.62% 10.28% 13.75%
Adjusted net profit margin 2.35% 8.36% 9.61% 10.34% 13.72%
Return on Equity (ROE)
Reported ROE 4.31% 12.91% 12.92% 18.06% 22.91%
Adjusted ROE 3.36% 12.54% 12.92% 18.17% 22.87%
Return on Assets (ROA)
Reported ROA 2.20% 5.85% 5.76% 9.81% 13.36%
Adjusted ROA 1.71% 5.68% 5.76% 9.87% 13.33%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. SolarEdge Technologies Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. SolarEdge Technologies Inc. adjusted ROE deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. SolarEdge Technologies Inc. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.

SolarEdge Technologies Inc., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income attributable to SolarEdge Technologies, Inc. 93,779 169,170 140,322 146,549 128,833
Revenues 3,110,279 1,963,865 1,459,271 1,425,660 937,237
Profitability Ratio
Net profit margin1 3.02% 8.61% 9.62% 10.28% 13.75%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income attributable to SolarEdge Technologies, Inc. 73,039 164,221 140,298 147,469 128,610
Revenues 3,110,279 1,963,865 1,459,271 1,425,660 937,237
Profitability Ratio
Adjusted net profit margin2 2.35% 8.36% 9.61% 10.34% 13.72%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 Net profit margin = 100 × Net income attributable to SolarEdge Technologies, Inc. ÷ Revenues
= 100 × 93,779 ÷ 3,110,279 = 3.02%

2 Adjusted net profit margin = 100 × Adjusted net income attributable to SolarEdge Technologies, Inc. ÷ Revenues
= 100 × 73,039 ÷ 3,110,279 = 2.35%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. SolarEdge Technologies Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income attributable to SolarEdge Technologies, Inc. 93,779 169,170 140,322 146,549 128,833
Total SolarEdge Technologies, Inc. stockholders’ equity 2,176,366 1,310,039 1,085,757 811,670 562,408
Profitability Ratio
ROE1 4.31% 12.91% 12.92% 18.06% 22.91%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income attributable to SolarEdge Technologies, Inc. 73,039 164,221 140,298 147,469 128,610
Total SolarEdge Technologies, Inc. stockholders’ equity 2,176,366 1,310,039 1,085,757 811,670 562,408
Profitability Ratio
Adjusted ROE2 3.36% 12.54% 12.92% 18.17% 22.87%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 ROE = 100 × Net income attributable to SolarEdge Technologies, Inc. ÷ Total SolarEdge Technologies, Inc. stockholders’ equity
= 100 × 93,779 ÷ 2,176,366 = 4.31%

2 Adjusted ROE = 100 × Adjusted net income attributable to SolarEdge Technologies, Inc. ÷ Total SolarEdge Technologies, Inc. stockholders’ equity
= 100 × 73,039 ÷ 2,176,366 = 3.36%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. SolarEdge Technologies Inc. adjusted ROE deteriorated from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income attributable to SolarEdge Technologies, Inc. 93,779 169,170 140,322 146,549 128,833
Total assets 4,265,949 2,892,060 2,437,109 1,494,624 964,472
Profitability Ratio
ROA1 2.20% 5.85% 5.76% 9.81% 13.36%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income attributable to SolarEdge Technologies, Inc. 73,039 164,221 140,298 147,469 128,610
Total assets 4,265,949 2,892,060 2,437,109 1,494,624 964,472
Profitability Ratio
Adjusted ROA2 1.71% 5.68% 5.76% 9.87% 13.33%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 ROA = 100 × Net income attributable to SolarEdge Technologies, Inc. ÷ Total assets
= 100 × 93,779 ÷ 4,265,949 = 2.20%

2 Adjusted ROA = 100 × Adjusted net income attributable to SolarEdge Technologies, Inc. ÷ Total assets
= 100 × 73,039 ÷ 4,265,949 = 1.71%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. SolarEdge Technologies Inc. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.