Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
SolarEdge Technologies Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | SolarEdge Technologies Inc. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | SolarEdge Technologies Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | SolarEdge Technologies Inc. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | SolarEdge Technologies Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | SolarEdge Technologies Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | SolarEdge Technologies Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | SolarEdge Technologies Inc. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | SolarEdge Technologies Inc. interest coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | SolarEdge Technologies Inc. fixed charge coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Equity
SolarEdge Technologies Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| 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 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.05 | 0.04 | 0.06 | — | — | |
| Analog Devices Inc. | 0.18 | 0.18 | 0.43 | 0.47 | — | |
| Applied Materials Inc. | 0.45 | 0.45 | 0.52 | 0.65 | — | |
| Broadcom Inc. | 1.74 | 1.59 | 1.72 | 1.32 | — | |
| Intel Corp. | 0.41 | 0.40 | 0.45 | — | — | |
| KLA Corp. | 4.75 | 1.02 | 1.30 | 1.29 | — | |
| Lam Research Corp. | 0.80 | 0.83 | 1.12 | 0.96 | — | |
| Micron Technology Inc. | 0.14 | 0.15 | 0.17 | 0.16 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.41 | 0.41 | 0.16 | — | — | |
| Qualcomm Inc. | 0.86 | 1.58 | 2.59 | 3.25 | — | |
| Texas Instruments Inc. | 0.60 | 0.58 | 0.74 | — | — | |
| Debt to Equity, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.43 | 0.50 | 0.62 | — | — | |
| Debt to Equity, Industry | ||||||
| Information Technology | 0.70 | 0.83 | 0.97 | — | — | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | SolarEdge Technologies Inc. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Equity (including Operating Lease Liability)
SolarEdge Technologies Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| Total debt | 673,099) | 663,918) | 601,209) | 2,630) | —) | |
| Short-term operating lease liabilities | 16,183) | 12,728) | 10,994) | 9,590) | —) | |
| Long-term operating lease liabilities | 46,256) | 38,912) | 35,194) | 30,213) | —) | |
| Total debt (including operating lease liability) | 735,538) | 715,558) | 647,397) | 42,433) | —) | |
| Total SolarEdge Technologies, Inc. stockholders’ equity | 2,176,366) | 1,310,039) | 1,085,757) | 811,670) | 562,408) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.34 | 0.55 | 0.60 | 0.05 | 0.00 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.05 | 0.10 | 0.10 | — | — | |
| Analog Devices Inc. | 0.19 | 0.19 | 0.46 | 0.47 | — | |
| Applied Materials Inc. | 0.48 | 0.47 | 0.54 | 0.65 | — | |
| Broadcom Inc. | 1.76 | 1.61 | 1.75 | 1.32 | — | |
| Intel Corp. | 0.42 | 0.40 | 0.46 | — | — | |
| KLA Corp. | 4.83 | 1.05 | 1.34 | 1.29 | — | |
| Lam Research Corp. | 0.83 | 0.86 | 1.16 | 0.96 | — | |
| Micron Technology Inc. | 0.15 | 0.17 | 0.19 | 0.16 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.44 | 0.46 | 0.22 | — | — | |
| Qualcomm Inc. | 0.90 | 1.64 | 2.67 | 3.25 | — | |
| Texas Instruments Inc. | 0.63 | 0.62 | 0.77 | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.45 | 0.52 | 0.64 | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.77 | 0.90 | 1.04 | — | — | |
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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total SolarEdge Technologies, Inc. stockholders’ equity
= 735,538 ÷ 2,176,366 = 0.34
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | SolarEdge Technologies Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Capital
SolarEdge Technologies Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| 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) | |
| 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 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.04 | 0.04 | 0.05 | — | — | |
| Analog Devices Inc. | 0.15 | 0.15 | 0.30 | 0.32 | — | |
| Applied Materials Inc. | 0.31 | 0.31 | 0.34 | 0.39 | — | |
| Broadcom Inc. | 0.64 | 0.61 | 0.63 | 0.57 | — | |
| Intel Corp. | 0.29 | 0.29 | 0.31 | — | — | |
| KLA Corp. | 0.83 | 0.50 | 0.57 | 0.56 | — | |
| Lam Research Corp. | 0.44 | 0.45 | 0.53 | 0.49 | — | |
| Micron Technology Inc. | 0.12 | 0.13 | 0.15 | 0.14 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.29 | 0.29 | 0.14 | — | — | |
| Qualcomm Inc. | 0.46 | 0.61 | 0.72 | 0.76 | — | |
| Texas Instruments Inc. | 0.37 | 0.37 | 0.43 | — | — | |
| Debt to Capital, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.30 | 0.33 | 0.38 | — | — | |
| Debt to Capital, Industry | ||||||
| Information Technology | 0.41 | 0.45 | 0.49 | — | — | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | SolarEdge Technologies Inc. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Capital (including Operating Lease Liability)
SolarEdge Technologies Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| Total debt | 673,099) | 663,918) | 601,209) | 2,630) | —) | |
| Short-term operating lease liabilities | 16,183) | 12,728) | 10,994) | 9,590) | —) | |
| Long-term operating lease liabilities | 46,256) | 38,912) | 35,194) | 30,213) | —) | |
| Total debt (including operating lease liability) | 735,538) | 715,558) | 647,397) | 42,433) | —) | |
| Total SolarEdge Technologies, Inc. stockholders’ equity | 2,176,366) | 1,310,039) | 1,085,757) | 811,670) | 562,408) | |
| Total capital (including operating lease liability) | 2,911,904) | 2,025,597) | 1,733,154) | 854,103) | 562,408) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.25 | 0.35 | 0.37 | 0.05 | 0.00 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.05 | 0.09 | 0.09 | — | — | |
| Analog Devices Inc. | 0.16 | 0.16 | 0.31 | 0.32 | — | |
| Applied Materials Inc. | 0.32 | 0.32 | 0.35 | 0.39 | — | |
| Broadcom Inc. | 0.64 | 0.62 | 0.64 | 0.57 | — | |
| Intel Corp. | 0.30 | 0.29 | 0.31 | — | — | |
| KLA Corp. | 0.83 | 0.51 | 0.57 | 0.56 | — | |
| Lam Research Corp. | 0.45 | 0.46 | 0.54 | 0.49 | — | |
| Micron Technology Inc. | 0.13 | 0.14 | 0.16 | 0.14 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.31 | 0.31 | 0.18 | — | — | |
| Qualcomm Inc. | 0.47 | 0.62 | 0.73 | 0.76 | — | |
| Texas Instruments Inc. | 0.39 | 0.38 | 0.44 | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.31 | 0.34 | 0.39 | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.43 | 0.47 | 0.51 | — | — | |
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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 735,538 ÷ 2,911,904 = 0.25
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | SolarEdge Technologies Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Assets
SolarEdge Technologies Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| Total debt | 673,099) | 663,918) | 601,209) | 2,630) | —) | |
| Total assets | 4,265,949) | 2,892,060) | 2,437,109) | 1,494,624) | 964,472) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.16 | 0.23 | 0.25 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.04 | 0.03 | 0.04 | — | — | |
| Analog Devices Inc. | 0.13 | 0.13 | 0.24 | 0.26 | — | |
| Applied Materials Inc. | 0.20 | 0.21 | 0.24 | 0.28 | — | |
| Broadcom Inc. | 0.54 | 0.53 | 0.54 | 0.49 | — | |
| Intel Corp. | 0.23 | 0.23 | 0.24 | — | — | |
| KLA Corp. | 0.53 | 0.34 | 0.37 | 0.38 | — | |
| Lam Research Corp. | 0.29 | 0.31 | 0.40 | 0.37 | — | |
| Micron Technology Inc. | 0.10 | 0.12 | 0.12 | 0.12 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.25 | 0.24 | 0.11 | — | — | |
| Qualcomm Inc. | 0.32 | 0.38 | 0.44 | 0.48 | — | |
| Texas Instruments Inc. | 0.32 | 0.31 | 0.35 | — | — | |
| Debt to Assets, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.24 | 0.26 | 0.30 | — | — | |
| Debt to Assets, Industry | ||||||
| Information Technology | 0.26 | 0.29 | 0.31 | — | — | |
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 assets = Total debt ÷ Total assets
= 673,099 ÷ 4,265,949 = 0.16
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | SolarEdge Technologies Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Assets (including Operating Lease Liability)
SolarEdge Technologies Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term finance lease liabilities | 3,263) | 1,875) | 1,686) | 231) | —) | |
| Convertible senior notes, net | 624,451) | 621,535) | 573,350) | —) | —) | |
| Long-term finance lease liabilities | 45,385) | 40,508) | 26,173) | 2,399) | —) | |
| Total debt | 673,099) | 663,918) | 601,209) | 2,630) | —) | |
| Short-term operating lease liabilities | 16,183) | 12,728) | 10,994) | 9,590) | —) | |
| Long-term operating lease liabilities | 46,256) | 38,912) | 35,194) | 30,213) | —) | |
| Total debt (including operating lease liability) | 735,538) | 715,558) | 647,397) | 42,433) | —) | |
| Total assets | 4,265,949) | 2,892,060) | 2,437,109) | 1,494,624) | 964,472) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.17 | 0.25 | 0.27 | 0.03 | 0.00 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Advanced Micro Devices Inc. | 0.04 | 0.06 | 0.06 | — | — | |
| Analog Devices Inc. | 0.14 | 0.14 | 0.25 | 0.26 | — | |
| Applied Materials Inc. | 0.22 | 0.22 | 0.26 | 0.28 | — | |
| Broadcom Inc. | 0.55 | 0.53 | 0.55 | 0.49 | — | |
| Intel Corp. | 0.23 | 0.23 | 0.24 | — | — | |
| KLA Corp. | 0.54 | 0.35 | 0.38 | 0.38 | — | |
| Lam Research Corp. | 0.30 | 0.33 | 0.41 | 0.37 | — | |
| Micron Technology Inc. | 0.11 | 0.12 | 0.13 | 0.12 | — | |
| Monolithic Power Systems Inc. | 0.00 | 0.00 | 0.00 | — | — | |
| NVIDIA Corp. | 0.27 | 0.27 | 0.15 | — | — | |
| Qualcomm Inc. | 0.33 | 0.40 | 0.46 | 0.48 | — | |
| Texas Instruments Inc. | 0.34 | 0.33 | 0.37 | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Semiconductors & Semiconductor Equipment | 0.25 | 0.27 | 0.31 | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.29 | 0.31 | 0.33 | — | — | |
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
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 735,538 ÷ 4,265,949 = 0.17
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | SolarEdge Technologies Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Financial Leverage
SolarEdge Technologies Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| 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 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 1.23 | 1.66 | 1.54 | — | — | |
| Analog Devices Inc. | 1.38 | 1.38 | 1.79 | 1.83 | — | |
| Applied Materials Inc. | 2.19 | 2.11 | 2.11 | 2.32 | — | |
| Broadcom Inc. | 3.23 | 3.03 | 3.18 | 2.71 | — | |
| Intel Corp. | 1.80 | 1.77 | 1.89 | — | — | |
| KLA Corp. | 8.99 | 3.04 | 3.48 | 3.39 | — | |
| Lam Research Corp. | 2.74 | 2.64 | 2.81 | 2.57 | — | |
| Micron Technology Inc. | 1.33 | 1.34 | 1.38 | 1.36 | — | |
| Monolithic Power Systems Inc. | 1.23 | 1.27 | 1.25 | — | — | |
| NVIDIA Corp. | 1.66 | 1.70 | 1.42 | — | — | |
| Qualcomm Inc. | 2.72 | 4.14 | 5.86 | 6.71 | — | |
| Texas Instruments Inc. | 1.87 | 1.85 | 2.11 | — | — | |
| Financial Leverage, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 1.79 | 1.89 | 2.07 | — | — | |
| Financial Leverage, Industry | ||||||
| Information Technology | 2.68 | 2.89 | 3.12 | — | — | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | SolarEdge Technologies Inc. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022. |
Interest Coverage
SolarEdge Technologies Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to SolarEdge Technologies, Inc. | 93,779) | 169,170) | 140,322) | 146,549) | 128,833) | |
| Add: Net income attributable to noncontrolling interest | —) | —) | —) | (1,592) | (787) | |
| Add: Income tax expense | 83,376) | 18,054) | 23,344) | 33,646) | 9,077) | |
| Add: Interest expenses | 11,538) | 10,665) | 10,120) | 5,826) | 3,211) | |
| Earnings before interest and tax (EBIT) | 188,693) | 197,889) | 173,786) | 184,429) | 140,334) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 16.35 | 18.55 | 17.17 | 31.66 | 43.70 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 14.61 | 109.09 | 28.23 | — | — | |
| Analog Devices Inc. | 16.46 | 8.19 | 7.79 | 7.49 | — | |
| Applied Materials Inc. | 34.33 | 29.69 | 18.36 | 14.79 | — | |
| Broadcom Inc. | 8.16 | 4.59 | 2.37 | 2.54 | — | |
| Intel Corp. | 16.66 | 37.35 | 40.87 | — | — | |
| KLA Corp. | 22.76 | 16.00 | 9.22 | 11.40 | — | |
| Lam Research Corp. | 29.11 | 21.95 | 15.51 | 21.86 | — | |
| Micron Technology Inc. | 51.66 | 35.18 | 16.41 | 56.09 | — | |
| Monolithic Power Systems Inc. | — | — | — | — | — | |
| NVIDIA Corp. | 43.12 | 24.96 | 58.12 | — | — | |
| Qualcomm Inc. | 31.61 | 19.38 | 10.50 | 12.93 | — | |
| Texas Instruments Inc. | 47.88 | 49.47 | 32.67 | — | — | |
| Interest Coverage, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 21.33 | 18.47 | 14.15 | — | — | |
| Interest Coverage, Industry | ||||||
| Information Technology | 22.75 | 19.95 | 14.17 | — | — | |
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
Interest coverage = EBIT ÷ Interest expense
= 188,693 ÷ 11,538 = 16.35
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | SolarEdge Technologies Inc. interest coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Fixed Charge Coverage
SolarEdge Technologies Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to SolarEdge Technologies, Inc. | 93,779) | 169,170) | 140,322) | 146,549) | 128,833) | |
| Add: Net income attributable to noncontrolling interest | —) | —) | —) | (1,592) | (787) | |
| Add: Income tax expense | 83,376) | 18,054) | 23,344) | 33,646) | 9,077) | |
| Add: Interest expenses | 11,538) | 10,665) | 10,120) | 5,826) | 3,211) | |
| Earnings before interest and tax (EBIT) | 188,693) | 197,889) | 173,786) | 184,429) | 140,334) | |
| Add: Operating lease cost | 15,901) | 14,890) | 12,741) | 9,665) | 6,231) | |
| Earnings before fixed charges and tax | 204,594) | 212,779) | 186,527) | 194,094) | 146,565) | |
| Interest expenses | 11,538) | 10,665) | 10,120) | 5,826) | 3,211) | |
| Operating lease cost | 15,901) | 14,890) | 12,741) | 9,665) | 6,231) | |
| Fixed charges | 27,439) | 25,555) | 22,861) | 15,491) | 9,442) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 7.46 | 8.33 | 8.16 | 12.53 | 15.52 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Advanced Micro Devices Inc. | 6.82 | 36.00 | 13.08 | — | — | |
| Analog Devices Inc. | 12.87 | 6.64 | 6.48 | 5.62 | — | |
| Applied Materials Inc. | 24.67 | 22.50 | 14.48 | 12.35 | — | |
| Broadcom Inc. | 6.55 | 3.70 | 1.92 | 2.27 | — | |
| Intel Corp. | 7.34 | 16.56 | 25.00 | — | — | |
| KLA Corp. | 18.72 | 13.03 | 7.74 | 10.39 | — | |
| Lam Research Corp. | 21.44 | 17.80 | 12.52 | 17.83 | — | |
| Micron Technology Inc. | 31.49 | 22.49 | 11.10 | 32.90 | — | |
| Monolithic Power Systems Inc. | 195.13 | 111.93 | 114.81 | — | — | |
| NVIDIA Corp. | 25.61 | 14.40 | 18.89 | — | — | |
| Qualcomm Inc. | 22.52 | 14.48 | 8.30 | 10.68 | — | |
| Texas Instruments Inc. | 36.70 | 36.25 | 24.14 | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 14.48 | 12.79 | 10.46 | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Information Technology | 13.48 | 12.23 | 9.05 | — | — | |
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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 204,594 ÷ 27,439 = 7.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | SolarEdge Technologies Inc. fixed charge coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |