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.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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SolarEdge Technologies Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Net income
Depreciation of property, plant and equipment
Amortization of intangible assets
Amortization of debt discount and debt issuance costs
Amortization of premium and accretion of discount on available-for-sale marketable securities, net
Impairment of goodwill and intangible assets
Stock-based compensation expenses
Gain from sale of privately held company
Deferred income taxes, net
Exchange rate fluctuations and other items, net
Inventories, net
Prepaid expenses and other assets
Trade receivables, net
Trade payables, net
Employees and payroll accruals
Warranty obligations
Deferred revenues and customers advances
Other liabilities, net
Changes in assets and liabilities
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by (used in) operating activities
Proceed from sales and maturities of available-for-sale marketable securities
Purchase of property, plant and equipment
Investment in available-for-sale marketable securities
Investment in a privately-held company
Proceeds from sale of a privately-held company
Withdrawal from (investment in) bank deposits, net
Business combinations, net of cash acquired
Other investing activities
Net cash (used in) provided by investing activities
Proceeds from secondary public offering, net of issuance costs
Repayment of bank loans
Proceeds from exercise of stock-based award
Tax withholding in connection with stock-based awards, net
Proceeds from issuance of convertible senior notes, net
Proceeds from bank loans
Change in non-controlling interests
Other financing activities
Net cash provided by (used in) financing activities
Effect of exchange rate differences on cash and cash equivalents
Increase (decrease) in cash and cash equivalents

Based on: 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Net Income
Net income exhibited volatility over the reported quarters, with notable peaks occurring in late 2019 and late 2021. Early 2022 showed a decline in net income compared to previous high points but remained positive overall.
Depreciation and Amortization
Depreciation of property, plant, and equipment showed a consistent upward trend throughout the periods, reflecting ongoing capital investments or aging assets. Amortization of intangible assets fluctuated but generally increased until early 2022, followed by a significant drop in the last quarter. Amortization related to debt and securities displayed variable amounts, indicating changes in financing activities and investment valuation.
Impairment Charges
There was a significant impairment of goodwill and intangible assets reported in late 2022, which represents a material non-recurring charge that could affect profitability.
Stock-based Compensation Expenses
These expenses steadily increased, indicating either an increase in stock-based incentives or higher employee-related costs settled through equity, reaching the highest levels in the last quarters.
Other Income and Expense Items
Amounts classified as deferred income taxes, exchange rate fluctuations, inventories, and trade receivables/payables demonstrated high variability. Inventory levels and trade accounts generally reflected wide swings, pointing to possible operational or supply chain uncertainties. Exchange rate impacts showed significant positive spikes in some quarters and large negative adjustments in others, indicating foreign currency risk exposure and its effect on financial statements.
Operating Cash Flows
Operating cash flow generally improved and remained positive across most quarters, with substantial growth in late 2019 and periodic spikes in early 2020 and mid-2021. However, a sharp negative cash flow was observed in the first quarter of 2022, indicating short-term operational or working capital challenges.
Investing Activities
Investing cash flows were mostly negative, reflecting significant purchases of property, plant, and equipment, alongside continuous investments in marketable securities. The pattern shows heavy capital expenditures and an active portfolio management strategy, including private company investments and occasional proceeds from asset sales.
Financing Activities
Financing cash flows were mixed with periods of inflows corresponding to public offerings and issuance of convertible debt, notably in mid-2020, contributing large cash inflows. Occasional repayments and other financing outflows were evident but generally smaller in magnitude compared to the inflows generated by equity and debt issuance events.
Effect of Exchange Rates and Cash Changes
Fluctuations due to exchange rate effects were significant and highly variable, affecting cash balances substantially in some quarters. The overall cash and cash equivalents exhibited irregular changes but showed sizeable increases in periods aligned with strong operating cash flow or financing proceeds.
Summary
The company’s financials reveal growth and investment dynamics accompanied by volatility in earnings and working capital. Increased depreciation and stock-based compensation suggest growing operational scale. Significant impairment and exchange rate impacts highlight risk factors. Positive operating cash flow is a strength, but large investing outflows underscore ongoing capitalization efforts. Financing activities reflect a strategy oriented towards raising capital through equity and convertible debt instruments. The data implies active management of assets and liabilities as well as exposure to market and currency risks.