Name: SolarEdge Technologies Inc. (NASDAQ:SEDG) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

SolarEdge Technologies Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	783,112)	530,089)	827,146)	223,901)	191,633)
Marketable securities	241,117)	167,728)	143,687)	91,845)	118,680)
Trade receivables, net of allowances	905,146)	456,339)	218,706)	298,383)	173,579)
Inventories, net	729,201)	380,143)	331,696)	170,798)	141,519)
Vendor non-trade receivables	147,597)	71,041)	56,617)	83,917)	28,284)
Government authorities	55,670)	63,440)	50,041)	16,434)	5,751)
Bank deposits	—)	—)	60,096)	5,010)	6,001)
Prepaid expenses and other	37,815)	42,511)	31,352)	42,475)	12,666)
Prepaid expenses and other current assets	241,082)	176,992)	198,106)	147,836)	52,702)
Current assets	2,899,658)	1,711,291)	1,719,341)	932,763)	678,113)
Marketable securities	645,491)	482,228)	147,434)	119,176)	74,256)
Deferred tax assets, net	44,153)	27,572)	11,676)	16,298)	14,699)
Property, plant and equipment, net	543,969)	410,379)	303,408)	176,963)	119,329)
Operating lease right-of-use assets, net	62,754)	47,137)	41,600)	35,858)	—)
Intangible assets, net	19,929)	58,861)	67,818)	74,008)	38,504)
Goodwill	31,189)	129,629)	140,479)	129,654)	34,874)
Other long-term assets	18,806)	24,963)	5,353)	9,904)	4,697)
Long-term assets	1,366,291)	1,180,769)	717,768)	561,861)	286,359)
Total assets	4,265,949)	2,892,060)	2,437,109)	1,494,624)	964,472)

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).

Total assets experienced substantial growth over the five-year period, increasing from 964.47 million US dollars in 2018 to 4.27 billion US dollars by the end of 2022. This expansion is primarily driven by a significant increase in current assets, which grew from 678.11 million US dollars to 2.90 billion US dollars, reflecting a rapid scaling of the operational footprint and working capital requirements.

Working Capital Trends: A notable acceleration in the accumulation of current assets is observed between 2021 and 2022. Trade receivables, net of allowances, increased by approximately 98%, rising from 456.34 million US dollars to 905.15 million US dollars. Simultaneously, inventories nearly doubled in the same period, moving from 380.14 million US dollars to 729.20 million US dollars. This concurrent surge in both receivables and inventory suggests a period of aggressive revenue growth or potential challenges in inventory turnover and collection cycles.
Liquidity and Cash Position: Cash and cash equivalents exhibited volatility but maintained an overall upward trajectory, peaking at 827.15 million US dollars in 2020 before stabilizing at 783.11 million US dollars in 2022. The liquidity position is further bolstered by marketable securities, which saw steady growth in both current and long-term classifications, with total marketable securities increasing significantly to support the balance sheet.
Capital Expenditures and Fixed Assets: Property, plant and equipment, net, showed consistent year-over-year growth, rising from 119.33 million US dollars in 2018 to 543.97 million US dollars in 2022. This steady upward trend indicates continuous investment in physical infrastructure and production capacity to support expanding operations.
Intangible Assets and Goodwill Valuation: A significant contraction in intangible assets and goodwill occurred in 2022. Goodwill decreased sharply from 129.63 million US dollars in 2021 to 31.19 million US dollars in 2022, while net intangible assets fell from 58.86 million US dollars to 19.93 million US dollars. This trend suggests substantial impairment charges or a strategic write-down of previously acquired intangible value.
Long-Term Asset Composition: Long-term assets expanded from 286.36 million US dollars in 2018 to 1.37 billion US dollars in 2022. While fixed assets and long-term marketable securities contributed to this growth, the overall composition shifted as the company transitioned from an initial growth phase toward a more asset-heavy operational structure.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?