SEDG (SEDG) financial statements
SEDG reported revenue of $1.2B in fiscal 2025, up 10.3% a year over 9 years.
Net income was -$405M and the operating margin -25.5%, against 14.6% in 2016.
Free cash flow was $81M.
The diluted share count rose 33% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SEDG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $490M | $607M | $937M | $1.4B | $1.5B | $2.0B | $3.1B | $3.0B | $901M | $1.2B |
| Cost of revenue | $338M | $392M | $618M | $946M | $998M | $1.3B | $2.3B | $2.3B | $1.8B | $988M |
| Gross profit | $152M | $215M | $319M | $479M | $461M | $629M | $845M | $704M | -$877M | $196M |
| Research and development | $33M | $55M | $82M | $121M | $163M | $220M | $290M | $321M | $277M | $221M |
| Selling, general and admin | $47M | $69M | $98M | $137M | $159M | $201M | $272M | $311M | $294M | $218M |
| Operating income | $72M | $91M | $139M | $190M | $143M | $207M | $166M | $40M | -$1.7B | -$302M |
| Interest expense | — | — | $3M | $5M | $5M | $605,000 | $2M | $1M | $1M | $1M |
| Pre-tax income | $72M | $100M | $137M | $179M | $164M | $187M | $177M | $81M | -$1.7B | -$391M |
| Income tax | -$4M | $16M | $9M | $34M | $23M | $18M | $83M | $46M | $96M | $13M |
| Net income | $77M | $84M | $129M | $147M | $140M | $169M | $94M | $34M | -$1.8B | -$405M |
| EPS (diluted) | $1.73 | $1.85 | $2.69 | $2.90 | $2.66 | $3.06 | $1.65 | $0.60 | -$31.64 | -$6.88 |
| Diluted shares | 44M | 45M | 48M | 50M | 53M | 56M | 58M | 57M | 57M | 59M |
| Gross margin | 31.0% | 35.4% | 34.1% | 33.6% | 31.6% | 32.0% | 27.2% | 23.6% | -97.3% | 16.6% |
| Operating margin | 14.6% | 15.0% | 14.9% | 13.3% | 9.8% | 10.5% | 5.3% | 1.4% | -189.5% | -25.5% |
| Net margin | 15.6% | 13.9% | 13.7% | 10.3% | 9.6% | 8.6% | 3.0% | 1.2% | -200.4% | -34.2% |
Balance sheet
Fiscal years, from SEDG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $133M | $240M | $306M | $316M | $971M | $698M | $1.0B | $860M | $586M | $493M |
| Receivables | $73M | $110M | $174M | $298M | $219M | $456M | $905M | $622M | $160M | $267M |
| Inventory | $82M | $83M | $142M | $171M | $332M | $380M | $729M | $1.4B | $646M | $553M |
| Total current assets | $310M | $477M | $677M | $933M | $1.7B | $1.7B | $2.9B | $3.3B | $2.1B | $1.7B |
| Property, plant and equipment | $29M | $51M | $119M | $177M | $303M | $410M | $544M | $615M | $343M | $269M |
| Goodwill | — | — | $35M | $130M | $140M | $130M | $31M | $43M | $48M | $50M |
| Total assets | $397M | $641M | $964M | $1.5B | $2.4B | $2.9B | $4.3B | $4.6B | $2.6B | $2.2B |
| Total current liabilities | $87M | $130M | $226M | $437M | $436M | $525M | $890M | $893M | $1.1B | $803M |
| Total liabilities | $141M | $244M | $394M | $683M | $1.4B | $1.6B | $2.1B | $2.2B | $2.0B | $1.8B |
| Shareholders' equity | $256M | $397M | $562M | $812M | $1.1B | $1.3B | $2.2B | $2.4B | $658M | $427M |
| Net debt | -$74M | -$163M | -$188M | -$224M | -$827M | -$530M | -$783M | -$338M | -$275M | -$455M |
Cash flow
Fiscal years, from SEDG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $53M | $137M | $189M | $259M | $223M | $214M | $31M | -$180M | -$313M | $104M |
| Capital spending | $16M | $21M | $39M | $73M | $127M | $149M | $169M | $171M | $108M | $23M |
| Free cash flow | $37M | $115M | $150M | $186M | $96M | $65M | -$138M | -$351M | -$421M | $81M |
| Stock-based compensation | $9M | $18M | $31M | $60M | $67M | $103M | $146M | $150M | $137M | $93M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$50M | $0 |
| Free cash flow margin | 7.5% | 19.0% | 16.1% | 13.1% | 6.6% | 3.3% | -4.4% | -11.8% | -46.8% | 6.8% |
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Open SEDG in InvestinglyQuestions
What was SEDG's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does SEDG generate?
$81M in fiscal 2025 (operating cash flow minus capital spending).
From SEDG's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.