Stock Analysis on Net
Stock Analysis on Net

SolarEdge Technologies Inc. (NASDAQ:SEDG)

$22.49

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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SolarEdge Technologies Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Trade payables, net
Employees and payroll accruals
Warranty obligations
Deferred revenues and customers advances
Accrued expenses
Government authorities
Short-term finance lease liabilities
Short-term operating lease liabilities
Accrual for sales incentives
Provision for legal claims
Other
Accrued expenses and other current liabilities
Current liabilities
Convertible senior notes, net
Warranty obligations
Deferred revenues
Long-term finance lease liabilities
Long-term operating lease liabilities
Tax liabilities
Accrued severance pay
Other
Other long-term liabilities
Long-term liabilities
Total liabilities
Common stock of $0.0001 par value
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Total SolarEdge Technologies, Inc. stockholders’ equity
Non-controlling interests
Total stockholders’ equity
Total liabilities and stockholders’ equity

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).

Trade Payables, Net
The proportion of trade payables relative to total liabilities and stockholders’ equity showed a fluctuation over the five-year period. Starting at 11.1% in 2018, it declined significantly to 6.65% in 2020, before rising again to 10.78% by 2022. This suggests variation in the company’s short-term obligations to suppliers.
Employees and Payroll Accruals
This item decreased modestly from 3.01% in 2018 to 2% in 2022, indicating a slight reduction in accrued employee-related expenses as a percentage of total liabilities and equity.
Warranty Obligations
Warranty obligations as a percentage of total liabilities and stockholders’ equity decreased substantially from 9.64% in 2018 (long-term) and 2.99% (current) to 6.59% and 2.44% respectively in 2022, reflecting a general downward trend in warranty liabilities, possibly due to improved product reliability or changes in warranty policy.
Deferred Revenues and Customer Advances
Current deferred revenues dropped sharply from 4.74% in 2019 to 0.62% in 2022, while long-term deferred revenues also decreased slightly from 6.29% in 2018 to 4.38% in 2022. This indicates a decline in unearned revenue balances over time.
Accrued Expenses
Accrued expenses showed variability, climbing from 1.54% in 2018 to a peak of 2.76% in 2022, with a dip in intermediate years, suggesting fluctuations in accrued liabilities through the periods examined.
Government Authorities
Amounts due to government authorities rose from 1.18% in 2018 to 1.58% in 2022, after peaking at 1.82% in 2019 and declining in 2021, reflecting changes in tax or regulatory accruals.
Lease Liabilities
Short-term finance lease liabilities appeared starting in 2019 and increased modestly to 0.08% in 2022. Short-term operating lease liabilities declined slightly from 0.64% in 2019 to 0.38% in 2022. Long-term finance lease liabilities increased from 0.16% in 2019 to 1.06% in 2022, while long-term operating lease liabilities decreased from 2.02% in 2019 to 1.08% in 2022, indicating a shifting lease liability profile consistent with lease accounting changes.
Provision for Legal Claims and Accrual for Sales Incentives
Provision for legal claims rose temporarily to 0.4% in 2021 but fell to zero in 2022. Accrual for sales incentives was recorded only in 2022 at 0.16%, suggesting a new accrual in that year.
Other Current and Long-Term Liabilities
Other current liabilities decreased continuously from 2.09% in 2018 to 0.06% in 2022. Similarly, other long-term liabilities declined from 1.49% in 2018 to 0.37% in 2022, reflecting efforts to streamline or reduce miscellaneous liabilities.
Current Liabilities
Current liabilities as a percentage of total decreased significantly from 29.22% in 2019 to about 20.86% in 2022, indicating a reduction in short-term obligations relative to total financing sources.
Convertible Senior Notes
Convertible senior notes emerged in 2020 at 23.53% and decreased to 14.64% by 2022, reflecting issuance followed by partial repayment or conversion, reducing their share in the capital structure.
Tax and Severance Liabilities
Tax liabilities declined steadily from 0.74% in 2018 to 0.09% in 2022. Accrued severance pay showed volatility but ended higher at 0.23% in 2022 compared to 0.04% in 2018.
Total Liabilities
Total liabilities rose from 40.83% in 2018, peaking at 55.45% in 2020, then decreased to 48.98% in 2022, indicating a notable peak in leverage during 2020 followed by partial deleveraging.
Stockholders’ Equity Components
Additional paid-in capital decreased from 38.55% in 2018 to 23.76% in 2021, then increased significantly to 35.29% in 2022, suggesting new equity issuances or increases in capital reserves. Retained earnings fluctuated, increasing from 19.82% in 2018 to 22.59% in 2019, then declining to 17.44% in 2022. Accumulated other comprehensive income (loss) worsened over time, moving from a slight negative balance to -1.71% in 2022, indicative of unfavorable impacts from foreign currency translation or unrealized losses.
Total Stockholders’ Equity
Equity as a share of total liabilities and stockholders’ equity decreased from 59.17% in 2018 to a low of 44.55% in 2020, then recovered to 51.02% in 2022, aligning inversely with the total liabilities trend.
Total Liabilities and Stockholders’ Equity
The sum remained constant at 100% for all years, aligning with accounting principles.