Solaredge Technologies (SEDG) FY2021 results: revenue $2.0 billion, up 34.6% on the year
Solaredge Technologies, Inc. (SEDG) reported revenue of $2.0 billion for fiscal 2021, the year ended 31 December 2021, up 34.6% on the year before. Net income was $169 million, up 20.6%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$2.0 billion
+34.6% on the year
FY2017FY2021
Operating margin
10.5%
9.8% a year earlier
FY2017FY2021
Net income
$169 million
+20.6% on the year
FY2017FY2021
Diluted EPS
$3.06
+15.0% on the year
FY2017FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
214
223
259
-3.8%
Capital expenditure
149
127
72.6
+17.7%
Free cash flow
64.9
95.9
186
-32.3%
Free cash flow margin
3.3%
6.6%
13.1%
Cash from investing
-484
-237
-153
Cash from financing
-15.2
640
-73.0
Depreciation and amortisation
39.5
31.8
17.3
+24.2%
Share-based compensation
103
67.3
60.4
+52.4%
Diluted shares, weighted
56m
53m
50m
+6.0%
Shares outstanding at period end
53m
52m
49m
+2.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,310
1,086
812
+20.7%
Debt
622
590
n/a
+5.3%
Operating lease liabilities
38.9
35.2
30.2
+10.6%
Finance lease liabilities
40.5
26.2
2.4
+54.8%
Other liabilities
890
700
650
+27.2%
Total liabilities and equity
2,901
2,437
1,495
+19.0%
Fixed assets
410
303
177
+35.3%
Goodwill
130
140
130
-7.7%
Intangible assets
58.9
67.8
74.0
-13.2%
Investments
650
291
211
+123.3%
Cash and equivalents
530
827
224
-35.9%
Receivables
456
219
298
+108.7%
Inventory
380
332
171
+14.6%
Other assets
286
257
210
+11.2%
Total assets
2,901
2,437
1,495
+19.0%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.