SolarEdge Technologies

SEDG

Solar · Energy

Also trades as: 0L7S.L

Price

$30.83

-0.07 (-0.23%)

Market Cap

$1.88B

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+6.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 56.0M (2021) → 59.8M (2025)

Winston Score History

The full picture

SolarEdge Technologies makes equipment that helps solar panels work more efficiently. Its main products are power optimizers and inverters — devices that convert the electricity solar panels generate into usable power for homes and businesses. The company also makes battery storage systems and software tools for monitoring solar installations, selling mostly to solar installers and homeowners across residential and commercial markets.

SolarEdge earns money by selling hardware, with inverters and optimizers making up the bulk of revenue. It operates globally, with Europe and the United States as its largest markets, and generated roughly $2–3 billion in annual revenue at its peak. The company built a strong position by pairing its optimizers with inverters in a way that locked in installers on its ecosystem, but it faces intense competition from Enphase and cheaper Chinese rivals. The biggest risk right now is a severe demand slowdown in Europe combined with high inventory levels, which has pushed the company into significant operating losses.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+19.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+76.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$221M/ year

↓ Declining (-20% vs prior year)

18.7% of revenue

18.7x the sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

1.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$547M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

SolarEdge Technologies is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

27.5%

Modest — 27.5% gross margin

Profit after running costs

Operating Margin

-4.6%

Losing money on operations — -4.6%

Return on the money invested

ROCE

-17.3%

Weak — -17.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+41.6%

Fast-growing sales (+41.6% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

6.8%

Modest free cash flow (6.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.81

Moderate — manageable debt (0.81)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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