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Semiconductors · Technology · Fiscal year ends Dec 31
Solaredge Technologies reported revenue of $1.2B in the fiscal year ended Dec 2025, up 31.4% from the year before. Operating income was −$302M, an operating margin of −25.5%, and net income was −$405M. Operating cash flow of $104M less capital expenditure of $23M left free cash flow of $81M.
Ranks among the 50 semiconductors companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,964 | 3,110 | 2,977 | 901 | 1,184 |
| Cost of revenue | 1,335 | 2,266 | 2,273 | 1,779 | 988 |
| Gross profit | 629 | 845 | 704 | −877 | 196 |
| Research & development | 220 | 290 | 321 | 277 | 221 |
| Selling, general & admin | 201 | 272 | 311 | 294 | 218 |
| Operating income | 207 | 166 | 40.2 | −1,708 | −302 |
| Interest expense | 0.6 | 1.5 | 1.3 | 1.2 | 1.4 |
| Pre-tax income | 187 | 177 | 81.1 | −1,708 | −391 |
| Income tax | 18.1 | 83.4 | 46.4 | 96.2 | 13.4 |
| Net income | 169 | 442 | 34.3 | −1,806 | −405 |
| Diluted EPS | 3.06 | 1.65 | 0.60 | −31.64 | −6.88 |
| Diluted shares | 56.0 | 58.1 | 57.2 | 57.1 | 59.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 530 | 783 | 338 | 275 | 455 |
| Receivables | 456 | 905 | 622 | 160 | 267 |
| Inventory | 380 | 729 | 1,443 | 646 | 553 |
| Current assets | 1,711 | 2,900 | 3,304 | 2,051 | 1,740 |
| Net PP&E | 410 | 544 | 615 | 343 | 269 |
| Goodwill | 130 | 31.2 | 43.0 | 48.4 | 50.1 |
| Total assets | 2,901 | 4,266 | 4,588 | 2,646 | 2,182 |
| Payables | 252 | 460 | 386 | 108 | 272 |
| Deferred revenue | 17.8 | 26.6 | 40.8 | 141 | 70.4 |
| Current liabilities | 525 | 890 | 893 | 1,057 | 803 |
| Total liabilities | 1,591 | 2,090 | 2,176 | 1,988 | 1,755 |
| Shareholders' equity | 1,310 | 2,176 | 2,412 | 658 | 427 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 214 | 31.3 | −180 | −313 | 104 |
| Capital expenditure | 149 | 169 | 171 | 108 | 23.5 |
| Free cash flow | 64.9 | −138 | −351 | −421 | 80.8 |
| Depreciation & amortisation | 39.5 | 49.7 | 57.2 | 59.9 | 30.5 |
| Stock-based compensation | 103 | 146 | 150 | 137 | 92.5 |
| Acquisitions | 0.0 | 0.0 | 16.7 | 10.4 | 0.0 |
| Share buybacks | – | 0.0 | 0.0 | 50.2 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 58.4% | −4.3% | −69.7% | 31.4% |
| Operating income growth (YoY) | – | −19.8% | −75.8% | −4348.9% | – |
| EPS growth (YoY) | – | −46.1% | −63.6% | −5373.3% | – |
| Gross margin | 32.0% | 27.2% | 23.6% | −97.3% | 16.6% |
| Operating margin | 10.5% | 5.3% | 1.4% | −189.5% | −25.5% |
| Net margin | 8.6% | 14.2% | 1.2% | −200.4% | −34.2% |
| Return on equityBlank when equity is negative | 12.9% | 20.3% | 1.4% | −274.4% | −94.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.7% | 4.9% | 1.1% | −107.5% | −21.9% |
| Free cash flow margin | 3.3% | −4.4% | −11.8% | −46.8% | 6.8% |
| Cash conversion (CFO ÷ net income) | 1.27x | 0.07x | −5.25x | 0.17x | −0.26x |
| Receivable days | 85 | 106 | 76 | 65 | 82 |
| Inventory days | 104 | 117 | 232 | 133 | 204 |
| Payable days | 69 | 74 | 62 | 22 | 100 |
| Interest cover | 342x | 109x | 31.7x | −1478x | −219x |
| Current ratio | 3.26x | 3.26x | 3.70x | 1.94x | 2.17x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.