Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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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 statement of comprehensive income
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).
- Net Income
- The net income demonstrated an overall increasing trend from 2018 to 2021, rising from $128,046 thousand in 2018 to a peak of $169,170 thousand in 2021. However, in 2022, there was a significant decline to $93,779 thousand, representing a noticeable decrease compared to the prior year.
- Net Change Related to Available-for-Sale Securities
- This item showed fluctuating values with a modest improvement from a negative $223 thousand in 2018 to a positive $920 thousand in 2019, followed by a return to near zero in 2020. Subsequently, it turned sharply negative in 2021 and 2022, with values of -$4,949 thousand and -$20,740 thousand, respectively, indicating deteriorating performance or valuation adjustments in this category.
- Net Change Related to Cash Flow Hedges
- Data for this item is absent prior to 2021. In 2021, a positive net change of $874 thousand was recorded, but this reversed dramatically in 2022 to a negative value of -$2,635 thousand, suggesting increased volatility or unfavorable conditions impacting cash flow hedges during the latest year.
- Foreign Currency Translation Adjustments on Intra-Entity Transactions of Long-Term Investment Nature
- This category appears from 2021 onwards, showing significant negative values: -$17,420 thousand in 2021 and worsening to -$20,540 thousand in 2022, reflecting adverse foreign exchange impacts on long-term intra-entity investments in these years.
- Foreign Currency Translation Adjustments, Net
- These adjustments show variability across the period, beginning at a positive $310 thousand in 2018, then declining to -$2,205 thousand in 2019. The value rebounds to $5,690 thousand in 2020, but again declines to negative values in 2021 (-$9,681 thousand) and 2022 (-$1,875 thousand), indicating ongoing currency translation exposure with substantial fluctuations year-over-year.
- Other Comprehensive Income (Loss), Net of Tax
- This line reflects considerable volatility and deterioration over the years. Starting with a marginal positive $87 thousand in 2018, it dropped to a loss of -$1,285 thousand in 2019. It improved notably to a gain of $5,666 thousand in 2020, but suffered a severe decline with net losses of -$31,176 thousand and -$45,790 thousand in 2021 and 2022, respectively, signifying significant negative factors affecting comprehensive income beyond net income.
- Comprehensive Income
- Comprehensive income initially increased from $128,133 thousand in 2018 to a high of $145,988 thousand in 2020, followed by a decline to $137,994 thousand in 2021. In 2022, comprehensive income saw a sharp decrease to $47,989 thousand, paralleling the downward trend seen in net income and other components of comprehensive income.
- Comprehensive (Income) Loss Attributable to Non-Controlling Interests
- Data on this category is limited, recorded only in 2018 as a loss of -$150 thousand and a gain of $981 thousand in 2019. No data is available for subsequent years, suggesting either elimination or lack of significant non-controlling interests impact on comprehensive income from 2020 onwards.
- Comprehensive Income Attributable to SolarEdge Technologies, Inc.
- This item closely follows the trend of total comprehensive income, with values increasing from $127,983 thousand in 2018 to a peak of $145,988 thousand in 2020, decreasing to $137,994 thousand in 2021, and experiencing a substantial reduction to $47,989 thousand in 2022, indicating the majority of comprehensive income changes are attributable to the parent company.