Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

SolarEdge Technologies Inc., adjusted financial ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported	0.73	0.68	0.60	0.95	0.97
Adjusted	0.75	0.70	0.59	1.02	1.01
Liquidity Ratio
Current Ratio
Reported	3.26	3.26	3.94	2.14	3.00
Adjusted	3.82	3.93	4.94	3.11	3.72
Solvency Ratios
Debt to Equity
Reported	0.31	0.51	0.55	0.00	0.00
Adjusted	0.27	0.42	0.45	0.04	0.03
Debt to Capital
Reported	0.24	0.34	0.36	0.00	0.00
Adjusted	0.21	0.29	0.31	0.04	0.03
Financial Leverage
Reported	1.96	2.21	2.24	1.84	1.71
Adjusted	1.55	1.67	1.70	1.30	1.29
Profitability Ratios
Net Profit Margin
Reported	3.02%	8.61%	9.62%	10.28%	13.75%
Adjusted	6.39%	10.82%	10.75%	18.31%	21.09%
Return on Equity (ROE)
Reported	4.31%	12.91%	12.92%	18.06%	22.91%
Adjusted	7.38%	12.54%	10.81%	24.37%	27.33%
Return on Assets (ROA)
Reported	2.20%	5.85%	5.76%	9.81%	13.36%
Adjusted	4.77%	7.52%	6.37%	18.69%	21.27%

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).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	SolarEdge Technologies Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	SolarEdge Technologies Inc. adjusted current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	SolarEdge Technologies Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	SolarEdge Technologies Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	SolarEdge Technologies Inc. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	SolarEdge Technologies Inc. adjusted net profit margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	SolarEdge Technologies Inc. adjusted ROE improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	SolarEdge Technologies Inc. adjusted ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

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

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Revenues	3,110,279)	1,963,865)	1,459,271)	1,425,660)	937,237)
Total assets	4,265,949)	2,892,060)	2,437,109)	1,494,624)	964,472)
Activity Ratio
Total asset turnover¹	0.73	0.68	0.60	0.95	0.97
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted revenues²	3,154,511)	1,993,190)	1,438,494)	1,511,436)	978,246)
Adjusted total assets³	4,224,998)	2,867,114)	2,428,319)	1,480,799)	970,014)
Activity Ratio
Adjusted total asset turnover⁴	0.75	0.70	0.59	1.02	1.01

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).

¹ 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 3,110,279 ÷ 4,265,949 = 0.73

² Adjusted revenues. See details »

³ Adjusted total assets. See details »

⁴ 2022 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 3,154,511 ÷ 4,224,998 = 0.75

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	SolarEdge Technologies Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Current assets	2,899,658)	1,711,291)	1,719,341)	932,763)	678,113)
Current liabilities	889,717)	525,181)	436,099)	436,714)	225,718)
Liquidity Ratio
Current ratio¹	3.26	3.26	3.94	2.14	3.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted current assets²	2,902,860)	1,713,917)	1,722,227)	935,236)	678,540)
Adjusted current liabilities³	759,101)	435,912)	348,837)	300,787)	182,499)
Liquidity Ratio
Adjusted current ratio⁴	3.82	3.93	4.94	3.11	3.72

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).

¹ 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 2,899,658 ÷ 889,717 = 3.26

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2022 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 2,902,860 ÷ 759,101 = 3.82

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	SolarEdge Technologies Inc. adjusted current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt	673,099)	663,918)	601,209)	2,630)	—)
Total SolarEdge Technologies, Inc. stockholders’ equity	2,176,366)	1,310,039)	1,085,757)	811,670)	562,408)
Solvency Ratio
Debt to equity¹	0.31	0.51	0.55	0.00	0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt²	735,538)	715,558)	647,397)	42,433)	19,814)
Adjusted total stockholders’ equity³	2,734,049)	1,719,754)	1,430,574)	1,135,666)	754,800)
Solvency Ratio
Adjusted debt to equity⁴	0.27	0.42	0.45	0.04	0.03

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).

¹ 2022 Calculation
Debt to equity = Total debt ÷ Total SolarEdge Technologies, Inc. stockholders’ equity
= 673,099 ÷ 2,176,366 = 0.31

² Adjusted total debt. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity
= 735,538 ÷ 2,734,049 = 0.27

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	SolarEdge Technologies Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt	673,099)	663,918)	601,209)	2,630)	—)
Total capital	2,849,465)	1,973,957)	1,686,966)	814,300)	562,408)
Solvency Ratio
Debt to capital¹	0.24	0.34	0.36	0.00	0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt²	735,538)	715,558)	647,397)	42,433)	19,814)
Adjusted total capital³	3,469,587)	2,435,312)	2,077,971)	1,178,099)	774,614)
Solvency Ratio
Adjusted debt to capital⁴	0.21	0.29	0.31	0.04	0.03

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).

¹ 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 673,099 ÷ 2,849,465 = 0.24

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 735,538 ÷ 3,469,587 = 0.21

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	SolarEdge Technologies Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total assets	4,265,949)	2,892,060)	2,437,109)	1,494,624)	964,472)
Total SolarEdge Technologies, Inc. stockholders’ equity	2,176,366)	1,310,039)	1,085,757)	811,670)	562,408)
Solvency Ratio
Financial leverage¹	1.96	2.21	2.24	1.84	1.71
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets²	4,224,998)	2,867,114)	2,428,319)	1,480,799)	970,014)
Adjusted total stockholders’ equity³	2,734,049)	1,719,754)	1,430,574)	1,135,666)	754,800)
Solvency Ratio
Adjusted financial leverage⁴	1.55	1.67	1.70	1.30	1.29

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).

¹ 2022 Calculation
Financial leverage = Total assets ÷ Total SolarEdge Technologies, Inc. stockholders’ equity
= 4,265,949 ÷ 2,176,366 = 1.96

² Adjusted total assets. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity
= 4,224,998 ÷ 2,734,049 = 1.55

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	SolarEdge Technologies Inc. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
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
Selected Financial Data (US$ in thousands)
Adjusted net income²	201,640)	215,587)	154,621)	276,805)	206,300)
Adjusted revenues³	3,154,511)	1,993,190)	1,438,494)	1,511,436)	978,246)
Profitability Ratio
Adjusted net profit margin⁴	6.39%	10.82%	10.75%	18.31%	21.09%

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).

¹ 2022 Calculation
Net profit margin = 100 × Net income attributable to SolarEdge Technologies, Inc. ÷ Revenues
= 100 × 93,779 ÷ 3,110,279 = 3.02%

² Adjusted net income. See details »

³ Adjusted revenues. See details »

⁴ 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenues
= 100 × 201,640 ÷ 3,154,511 = 6.39%

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

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
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
Selected Financial Data (US$ in thousands)
Adjusted net income²	201,640)	215,587)	154,621)	276,805)	206,300)
Adjusted total stockholders’ equity³	2,734,049)	1,719,754)	1,430,574)	1,135,666)	754,800)
Profitability Ratio
Adjusted ROE⁴	7.38%	12.54%	10.81%	24.37%	27.33%

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).

¹ 2022 Calculation
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 net income. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2022 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total stockholders’ equity
= 100 × 201,640 ÷ 2,734,049 = 7.38%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	SolarEdge Technologies Inc. adjusted ROE improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
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
Selected Financial Data (US$ in thousands)
Adjusted net income²	201,640)	215,587)	154,621)	276,805)	206,300)
Adjusted total assets³	4,224,998)	2,867,114)	2,428,319)	1,480,799)	970,014)
Profitability Ratio
Adjusted ROA⁴	4.77%	7.52%	6.37%	18.69%	21.27%

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).

¹ 2022 Calculation
ROA = 100 × Net income attributable to SolarEdge Technologies, Inc. ÷ Total assets
= 100 × 93,779 ÷ 4,265,949 = 2.20%

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2022 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 201,640 ÷ 4,224,998 = 4.77%

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

SolarEdge Technologies Inc. (NASDAQ:SEDG)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

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

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)