SolarEdge Technologies Inc. (NASDAQ:SEDG)

The financial data reveals notable shifts in asset composition over the five-year period. The proportion of cash and cash equivalents relative to total assets exhibited considerable volatility, initially decreasing from 19.87% in 2018 to 14.98% in 2019, then sharply increasing to 33.94% in 2020 before declining again to stabilize around 18.3% in 2021 and 2022. This fluctuation suggests changes in liquidity management or cash holdings potentially linked to operational needs or investment activities.

Marketable securities as a percentage of total assets consistently declined from 12.31% in 2018 to 5.65% in 2022, indicative of diminished investment in liquid financial instruments. However, an alternate category of marketable securities, reported separately, showed an increase starting from 7.7% in 2018, peaking at 16.67% in 2021, and slightly declining to 15.13% in 2022. This may reflect a reclassification or shifting investment strategy within the company's asset portfolio.

Trade receivables demonstrated uneven trends, starting at 18% in 2018, rising to nearly 20% in 2019, dropping notably to 8.97% in 2020, then climbing again to 21.22% by 2022. This volatility suggests fluctuations in sales on credit and possibly changes in credit policies or collection efficiency. Inventories as a percentage of total assets followed a more gradual upward trajectory after a dip in 2019, reaching a peak of 17.09% in 2022, indicating an accumulation of stock or a strategic shift towards holding more inventory.

Vendor non-trade receivables saw an increase over the period, from 2.93% in 2018 to a peak of 5.61% in 2019, followed by declines and a subsequent rise to 3.46% in 2022. Receivables from government authorities increased moderately until 2021 before falling back in 2022. Bank deposits exhibited a sporadic presence, rising in 2020 but absent in later years, possibly indicating changes in deposit practices or reporting.

Prepaid expenses and similar current assets experienced an initial increase peaking in 2019 then declining steadily through 2022. Meanwhile, current assets as a whole displayed a downward trend from 70.31% in 2018 to a low of 59.17% in 2021, recovering slightly to 67.97% in 2022, illustrating fluctuations in the composition of short-term assets.

Long-term assets as a share of total assets increased significantly in 2019 and 2021, from 29.69% in 2018 to 37.59% and 40.83%, respectively, before decreasing to 32.03% in 2022. Within long-term assets, property, plant and equipment remained relatively stable, fluctuating modestly near 12-14%, highlighting consistent investment or maintenance in physical assets.

The data shows a diminishing trend in intangible assets and goodwill, with intangible assets dropping from approximately 4% in 2018 to under 1% in 2022, and goodwill showing a similar reduction from 3.62% to 0.73%. This decline could point to amortization, impairment charges, or divestitures affecting these asset categories.

Other long-term assets remained a small fraction of total assets, maintaining percentages below 1% throughout the period. The operating lease right-of-use assets were introduced in 2019, decreasing steadily from 2.4% to 1.47% by 2022, likely reflecting the impact of lease accounting standards and ongoing lease amortization.