Total Asset Turnover
since 2015
Calculation
SolarEdge Technologies Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.73 | = | 3,110,279) | ÷ | 4,265,949) |
| Dec 31, 2021 | 0.68 | = | 1,963,865) | ÷ | 2,892,060) |
| Dec 31, 2020 | 0.60 | = | 1,459,271) | ÷ | 2,437,109) |
| Dec 31, 2019 | 0.95 | = | 1,425,660) | ÷ | 1,494,624) |
| Dec 31, 2018 | 0.97 | = | 937,237) | ÷ | 964,472) |
| Dec 31, 2017 | 0.95 | = | 607,045) | ÷ | 641,305) |
| Jun 30, 2016 | 1.23 | = | 489,843) | ÷ | 397,438) |
| Jun 30, 2015 | 1.06 | = | 325,078) | ÷ | 305,658) |
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$ in thousands
The financial data indicates a period of aggressive expansion characterized by substantial growth in both revenues and total assets between 2015 and 2022. While revenues increased from approximately 325 million USD to 3.11 billion USD, total assets grew at a more rapid pace, rising from 305 million USD to approximately 4.27 billion USD. This divergence in growth rates resulted in a fluctuating total asset turnover ratio over the analyzed timeframe.
- Revenue and Asset Growth Correlation
- Revenues exhibited consistent year-over-year growth throughout the period. However, the expansion of the asset base often outpaced revenue gains. A notable instance occurred between 2019 and 2020, where total assets increased by roughly 63% while revenues grew by only 2%, leading to a significant drop in asset utilization efficiency.
- Total Asset Turnover Trend
- The total asset turnover ratio peaked in 2016 at 1.23 before entering a period of relative stability between 0.95 and 0.97 from 2017 to 2019. The ratio experienced a sharp decline to a period low of 0.60 in 2020. Since that trough, a gradual recovery has been observed, with the ratio rising to 0.68 in 2021 and 0.73 in 2022.
- Operational Efficiency Insights
- The overall trajectory suggests a strategic shift toward a more asset-intensive operational model. The decline in the turnover ratio through 2020 indicates that investments in assets did not immediately yield proportional increases in sales. The subsequent upward trend from 2021 to 2022 reflects an improving capacity to generate revenue from the expanded asset base.
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Comparison to Competitors
SolarEdge Technologies Inc., total asset turnover, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 0.73 | 0.35 | 0.24 | 0.96 | 0.45 | 0.35 | 0.73 | 1.00 | 0.20 | 0.46 | 0.61 | 0.90 | 0.74 |
| Dec 31, 2021 | 0.68 | 1.32 | 0.14 | 0.89 | 0.36 | 0.47 | 0.67 | 0.92 | 0.28 | 0.47 | 0.58 | 0.81 | 0.74 |
| Dec 31, 2020 | 0.60 | 1.09 | 0.26 | 0.77 | 0.31 | 0.51 | 0.63 | 0.69 | 0.24 | 0.40 | 0.63 | 0.66 | 0.75 |
| Dec 31, 2019 | 0.95 | 1.12 | 0.28 | 0.77 | 0.33 | 0.53 | 0.51 | 0.80 | 0.29 | 0.48 | 0.88 | 0.74 | 0.80 |
| Dec 31, 2018 | 0.97 | 1.42 | 0.30 | 0.97 | 0.42 | 0.55 | 0.72 | 0.89 | 0.51 | 0.70 | 0.86 | 0.70 | 0.92 |
| Dec 31, 2017 | 0.95 | 1.51 | 0.24 | 0.75 | 0.32 | 0.51 | 0.63 | 0.66 | 0.50 | 0.58 | 0.70 | 0.34 | 0.85 |
| Jun 30, 2016 | 1.23 | 1.29 | 0.43 | 0.74 | 0.26 | 0.52 | 0.60 | 0.48 | 0.50 | 0.45 | 0.68 | 0.45 | 0.81 |
| Jun 30, 2015 | 1.06 | 1.28 | 0.49 | 0.63 | 0.64 | 0.54 | 0.58 | 0.56 | 0.63 | 0.67 | 0.65 | 0.50 | 0.80 |
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., total asset turnover, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| SolarEdge Technologies Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2022 | 0.73 | 0.49 |
| Dec 31, 2021 | 0.68 | 0.52 |
| Dec 31, 2020 | 0.60 | 0.50 |
| Dec 31, 2019 | 0.95 | 0.54 |
| Dec 31, 2018 | 0.97 | 0.63 |
| Dec 31, 2017 | 0.95 | 0.49 |
| Jun 30, 2016 | 1.23 | 0.50 |
| Jun 30, 2015 | 1.06 | 0.58 |
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., total asset turnover, long-term trends, comparison to industry (information technology)
| SolarEdge Technologies Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2022 | 0.73 | 0.64 |
| Dec 31, 2021 | 0.68 | 0.62 |
| Dec 31, 2020 | 0.60 | 0.58 |
| Dec 31, 2019 | 0.95 | 0.59 |
| Dec 31, 2018 | 0.97 | 0.59 |
| Dec 31, 2017 | 0.95 | 0.51 |
| Jun 30, 2016 | 1.23 | 0.55 |
| Jun 30, 2015 | 1.06 | 0.63 |
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).