Solaredge Technologies (SEDG) FY2023 results: revenue $3.0 billion, down 4.3% on the year
Solaredge Technologies, Inc. (SEDG) reported revenue of $3.0 billion for fiscal 2023, the year ended 31 December 2023, down 4.3% on the year before. Net income was $34 million, down 92.2%, and diluted earnings per share $0.60. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$3.0 billion
-4.3% on the year
FY2017FY2023
Operating margin
1.4%
5.3% a year earlier
FY2017FY2023
Net income
$34 million
-92.2% on the year
FY2017FY2023
Diluted EPS
$0.60
-63.6% on the year
FY2017FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
-180
31.3
214
Capital expenditure
171
169
149
+0.7%
Free cash flow
-351
-138
64.9
Free cash flow margin
-11.8%
-4.4%
3.3%
Cash from investing
-269
-417
-484
Cash from financing
-12.0
655
-15.2
Depreciation and amortisation
57.2
49.7
39.5
+15.1%
Share-based compensation
150
146
103
+3.0%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
57m
58m
56m
-1.5%
Shares outstanding at period end
57m
56m
53m
+1.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,412
2,176
1,310
+10.8%
Debt
627
624
622
+0.5%
Operating lease liabilities
45.1
46.3
38.9
-2.6%
Finance lease liabilities
41.9
45.4
40.5
-7.7%
Other liabilities
1,461
1,373
890
+6.4%
Total liabilities and equity
4,588
4,266
2,901
+7.5%
Fixed assets
615
544
410
+13.0%
Goodwill
43.0
31.2
130
+37.9%
Intangible assets
35.3
19.9
58.9
+77.4%
Investments
929
887
650
+4.8%
Cash and equivalents
338
783
530
-56.8%
Receivables
622
905
456
-31.2%
Inventory
1,443
729
380
+97.9%
Other assets
561
367
286
+53.0%
Total assets
4,588
4,266
2,901
+7.5%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.