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.
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2015
- Return on Assets (ROA) since 2015
- Price to Earnings (P/E) since 2015
- Price to Operating Profit (P/OP) since 2015
- Price to Sales (P/S) since 2015
- Analysis of Debt
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SolarEdge Technologies Inc., consolidated balance sheet: assets
US$ in thousands
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).
The financial data demonstrates a general upward trend in the company's asset base over the five-year period from 2018 to 2022, with total assets growing significantly from approximately $964 million to about $4.27 billion. This growth indicates expansion and increased investment in various asset categories.
- Liquidity and Short-term Assets
- Cash and cash equivalents show fluctuations, peaking in 2020 at over $827 million before declining in 2021 and rising again in 2022 to approximately $783 million. Marketable securities in current assets increased steadily, especially between 2021 and 2022, moving from $167 million to $241 million. Trade receivables exhibit notable growth, nearly quadrupling from around $174 million in 2018 to over $905 million in 2022, suggesting increased sales or credit extension to customers.
- Inventories also rose markedly, more than quintupling over the period, reaching around $729 million in 2022, which may imply higher production levels or accumulation of stock. Vendor non-trade receivables and government authorities balances increased as well, supporting the trend of expanded operational scale.
- Prepaid expenses and other current assets show variability but overall increased, reflecting possibly more advanced payments or other short-term asset increases supporting operations. The total current assets nearly quadrupled, reflecting strong asset growth on the short-term side and enhanced liquidity reserves.
- Long-term Assets
- Marketable securities categorized under long-term assets increased significantly, particularly from 2020 to 2022, nearly quadrupling to approximately $645 million, indicating strategic investments or allocation to longer-term financial instruments.
- Deferred tax assets showed mild growth with some fluctuations, increasing to about $44 million by 2022. Property, plant, and equipment assets steadily rose, more than quadrupling between 2018 and 2022 to nearly $544 million, which suggests considerable capital expenditure and asset base expansion.
- The operating lease right-of-use assets, introduced in 2019, increased gradually over the four-year period, consistent with leases entered. Intangible assets, net, decreased substantially by 2022, falling to roughly $20 million from a peak of $74 million in 2019, indicating possible amortization or impairment.
- Goodwill peaked in 2020 at about $140 million but dropped sharply in 2022 to around $31 million, reflecting potential goodwill impairments or disposals. Other long-term assets present a mixed trend with fluctuations.
- The total long-term assets nearly quintupled, indicating strategic growth through capital investments and acquisitions over the analyzed period.
- Overall Asset Growth
- Combined current and long-term assets consistently increased, driven by growth in cash equivalents, receivables, inventories, marketable securities, and fixed assets. The data points to a substantial scaling of operations and investment in both working capital and capital assets.
- The decline in intangible assets and goodwill values in 2022 may warrant further investigation, as this could impact future earnings or asset valuations.