SolarEdge Technologies Posts Record-Breaking Earnings & Revenue Growth

Trending News ☀️

SOLAREDGE ($NASDAQ:SEDG): SolarEdge Technologies recently posted record-breaking earnings and revenue growth. The company reported Non-GAAP earnings per share (EPS) of $2.90, which was higher than expected by $0.95, and revenue of $943.9M, which surpassed the forecast by $12.05M. This news is undoubtedly positive for SolarEdge Technologies, a publicly traded company that designs, manufactures, and sells energy optimization solutions. SolarEdge’s solutions are designed to enable customers to reduce their electricity bills by maximizing their solar power production and energy efficiency.

SolarEdge also offers a growing range of energy storage solutions such as the SolarEdge PowerBOX and the SolarEdge StorEdge System, which allow users to store the energy they produce for later use. The strong earnings and revenue growth that SolarEdge Technologies has recently posted is undoubtedly a great sign of success for the company. With their innovative solutions and rapidly growing customer base, SolarEdge is well-positioned to continue its impressive growth trajectory in the future.

Earnings

SOLAREDGE TECHNOLOGIES recently released its FY2022 Q4 earning report ending December 31 2022, posting record-breaking growth. The report revealed total revenue of 890.7M USD, a 61.4% increase compared to the previous year’s figure. Net income was however 20.83M USD, resulting in a 49.1% decrease year-on-year.

Over the last 3 years, SOLAREDGE TECHNOLOGIES has seen an impressive increase in total revenue, from 358.11M USD to 890.7M USD. This is a testament to the company’s ability to continue pushing the boundaries of growth and success in the industry.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Solaredge Technologies. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Solaredge Technologies. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Solaredge Technologies. More…

Key Ratios Snapshot

Some of the financial key ratios for Solaredge Technologies are shown below. More…

Share Price

On Wednesday, the company’s stock opened at $260.6 and closed at $263.8, representing a 0.1% increase from the prior closing price of $263.6. This marks a significant milestone for SOLAREDGE TECHNOLOGIES, demonstrating their continued success as a leader in the solar energy sector. Their strong financial performance is a testament to their commitment to innovation and customer satisfaction. The company’s success can be attributed to their dedication to cutting-edge technology and sustainability. SolarEdge Technologies has developed products that maximize energy conversion and reduce energy losses, resulting in higher efficiency for both homeowners and businesses. They provide high quality solutions designed to minimize environmental impact and optimize energy savings.

SolarEdge Technologies is well-positioned to continue its strong growth trajectory as demand for solar energy continues to rise. With its reliable customer base and expanding product portfolio, the company looks poised to capitalize on the growing market of solar energy solutions. Their cutting-edge solutions and commitment to sustainability will continue to drive their success into the future. Live Quote…

Analysis

GoodWhale has conducted an analysis of SOLAREDGE TECHNOLOGIES‘s wellbeing. According to our Star Chart, SOLAREDGE TECHNOLOGIES is strong in assets, growth, profitability and weak in dividend. Based on these findings, we classify SOLAREDGE TECHNOLOGIES as a ‘gorilla’ type of company; one that has achieved stable and high revenue or earning growth due to its strong competitive advantage. As such, SOLAREDGE TECHNOLOGIES may be attractive to investors who are looking for a stable business that has good potential for growth. Furthermore, SOLAREDGE TECHNOLOGIES has a high health score of 8/10 with regard to its cashflows and debt, meaning it is capable to sustain future operations in times of crisis. We believe that this company can provide a long-term and reliable return for investors. More…

Peers

In the solar energy industry, there is intense competition between SolarEdge Technologies Inc and its main competitors United Renewable Energy Co Ltd, Folkup Development Inc, and Tainergy Tech Co Ltd. All four companies are striving to be the leading provider of solar energy solutions and each has its own unique strengths and weaknesses. SolarEdge Technologies Inc has a strong focus on innovation and has developed several industry-leading products, while United Renewable Energy Co Ltd has a large customer base and a strong financial position. Folkup Development Inc has a strong research and development team, while Tainergy Tech Co Ltd has a large manufacturing capacity.

– United Renewable Energy Co Ltd ($TWSE:3576)

As of 2022, United Renewable Energy Co Ltd has a market cap of 34.73B and a Return on Equity of 2.02%. The company is engaged in the business of developing, manufacturing and marketing of solar photovoltaic products. It also provides engineering, procurement and construction services for solar power projects.

– Folkup Development Inc ($OTCPK:FLDI)

Folkup Development Inc is a publicly traded company with a market capitalization of $49 million as of 2022. The company has a return on equity of 40.0%, indicating that it is a profitable company that is generate shareholder value. Folkup Development Inc is engaged in the business of real estate development and management. The company has a portfolio of properties in the United States and Canada.

– Tainergy Tech Co Ltd ($TWSE:4934)

Tainergy Tech Co Ltd is a Taiwanese company that manufactures lithium batteries and energy storage systems. The company has a market cap of 5.65 billion as of 2022 and a return on equity of -26.54%. Tainergy Tech Co Ltd manufactures lithium batteries and energy storage systems for a variety of applications, including electric vehicles, power tools, and consumer electronics. The company has a strong presence in the Asia-Pacific region and is expanding its operations globally.

Summary

Non-GAAP earnings per share (EPS) of $2.90 beat analyst estimates by $0.95, while revenue came in at $943.9M, surpassing expectations by $12.05M. These encouraging financial results suggest that SolarEdge Technologies is well-positioned to capitalize on the growing demand for renewable energy solutions. Moreover, the company’s expanding product portfolio and forward-looking strategies should continue to drive growth. Given these factors, investors should consider SolarEdge Technologies as a potential long-term investment opportunity.