Price to Book Value (P/BV)
since 2015
Calculation
SolarEdge Technologies Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total SolarEdge Technologies, Inc. stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2023 | 7.63 | = | 295.71 | ÷ | 38.76 | 38.76 | = | 2,176,366 | ÷ | 56,146,608 | |
| Feb 22, 2022 | 9.92 | = | 246.07 | ÷ | 24.80 | 24.80 | = | 1,310,039 | ÷ | 52,818,655 | |
| Feb 19, 2021 | 15.30 | = | 321.99 | ÷ | 21.05 | 21.05 | = | 1,085,757 | ÷ | 51,581,559 | |
| Feb 27, 2020 | 7.64 | = | 125.95 | ÷ | 16.49 | 16.49 | = | 811,670 | ÷ | 49,235,498 | |
| Feb 28, 2019 | 3.55 | = | 42.26 | ÷ | 11.90 | 11.90 | = | 562,408 | ÷ | 47,255,226 | |
| Feb 20, 2018 | 5.24 | = | 47.45 | ÷ | 9.06 | 9.06 | = | 397,467 | ÷ | 43,891,212 | |
| Aug 17, 2016 | 2.84 | = | 17.76 | ÷ | 6.26 | 6.26 | = | 256,108 | ÷ | 40,898,197 | |
| Aug 20, 2015 | 5.79 | = | 24.60 | ÷ | 4.25 | 4.25 | = | 166,944 | ÷ | 39,300,386 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of SolarEdge Technologies Inc. Annual Report.
The financial data indicates a period of significant valuation expansion and subsequent correction between 2015 and 2023. A consistent upward trajectory in the company's intrinsic book value is contrasted by high volatility in market pricing, leading to fluctuating Price to Book Value (P/BV) ratios.
- Book Value Per Share (BVPS) Growth
- A steady and uninterrupted increase in BVPS is observed, rising from 4.25 USD in 2015 to 38.76 USD by February 2023. This consistent growth reflects a sustained accumulation of net assets and a continuous expansion of shareholder equity over the analyzed period.
- Share Price Dynamics
- The share price exhibited substantial volatility, particularly between 2019 and 2021, when the price surged from 42.26 USD to a peak of 321.99 USD. While a correction occurred in 2022, the price remained significantly elevated compared to the 2015-2019 period, closing at 295.71 USD in February 2023.
- P/BV Ratio Analysis
- The P/BV ratio experienced extreme variance, reaching a peak of 15.30 in February 2021. This spike indicates a period where the market assigned a substantial premium to the company relative to its accounting value, likely driven by heightened growth expectations. By February 2023, the ratio moderated to 7.63, suggesting a valuation normalization, although this remains higher than the 2.84 to 5.79 range seen in the earliest years of the data set.
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Comparison to Competitors
SolarEdge Technologies Inc., P/BV, long-term trends, comparison to competitors
| SolarEdge Technologies Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2023 | 7.63 | 2.32 | 2.35 | 7.25 | 10.23 | 1.15 | 40.04 | 10.10 | 3.52 | 1.15 | 24.95 | 7.00 | 11.33 |
| Feb 22, 2022 | 9.92 | 19.21 | 2.50 | 10.60 | 10.50 | 2.21 | 15.98 | 13.64 | 3.84 | 1.79 | 20.14 | 15.59 | 11.87 |
| Feb 19, 2021 | 15.30 | 17.77 | 4.22 | 7.63 | 7.40 | 2.84 | 11.83 | 10.55 | 1.45 | 1.50 | 15.49 | 24.00 | 17.02 |
| Feb 27, 2020 | 7.64 | 20.46 | 3.61 | 6.67 | 5.09 | 3.78 | 8.15 | 6.40 | 1.75 | 1.40 | 10.09 | 19.69 | 13.79 |
| Feb 28, 2019 | 3.55 | 18.30 | 3.02 | 4.73 | 3.74 | 2.94 | 11.40 | 4.28 | 2.52 | 1.49 | 19.60 | 82.57 | 11.20 |
| Feb 20, 2018 | 5.24 | 19.87 | 3.22 | 5.94 | 5.28 | 3.08 | 10.50 | 3.82 | 1.96 | 2.51 | 10.51 | 2.56 | 9.89 |
| Aug 17, 2016 | 2.84 | 31.66 | 4.35 | 4.93 | 3.84 | 2.60 | 17.57 | 2.45 | 1.39 | 1.48 | 3.98 | 3.12 | 7.36 |
| Aug 20, 2015 | 5.79 | — | 3.72 | 2.87 | 8.24 | 2.21 | 19.59 | 2.23 | 1.50 | 1.47 | 2.84 | 2.88 | 5.30 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
SolarEdge Technologies Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| SolarEdge Technologies Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 22, 2023 | 7.63 | 5.10 |
| Feb 22, 2022 | 9.92 | 6.22 |
| Feb 19, 2021 | 15.30 | 5.97 |
| Feb 27, 2020 | 7.64 | 5.04 |
| Feb 28, 2019 | 3.55 | 4.59 |
| Feb 20, 2018 | 5.24 | 4.04 |
| Aug 17, 2016 | 2.84 | 3.35 |
| Aug 20, 2015 | 5.79 | 2.84 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30).
Comparison to Industry (Information Technology)
SolarEdge Technologies Inc., P/BV, long-term trends, comparison to industry (information technology)
| SolarEdge Technologies Inc. | Information Technology | |
|---|---|---|
| Feb 22, 2023 | 7.63 | 10.25 |
| Feb 22, 2022 | 9.92 | 12.37 |
| Feb 19, 2021 | 15.30 | 10.94 |
| Feb 27, 2020 | 7.64 | 8.41 |
| Feb 28, 2019 | 3.55 | 7.00 |
| Feb 20, 2018 | 5.24 | 5.46 |
| Aug 17, 2016 | 2.84 | 4.53 |
| Aug 20, 2015 | 5.79 | 4.30 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30).