SEDGSolarEdge Technologies, Inc.
Is the business good?
Margins compressing. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is SEDG?
SolarEdge Technologies, Inc. keeps −12% of every revenue dollar as operating profit, against 5.5% for the median Solar name.
Operating margin · Solar median 5.5% · 12 months to Q2 2026
- Share count, year on year
- +4.2%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 16%
R&D as % of revenue
- Gross margin
- 23%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 9.8% |
| FY2021 | 11% |
| FY2022 | 5.3% |
| FY2023 | 1.4% |
| FY2024 | −190% |
| FY2025 | −25% |
Details›
- Gross margin12 months to Q2 2026
- 23%
- Operating margin12 months to Q2 2026
- −12%
- Net margin12 months to Q2 2026
- −20%
- Free cash flow margin
- 6.8%
- R&D as % of revenue
- 16%
- Revenue, trailing twelve months
- $1.33B
- Free cash flow, trailing twelve months
- $90M
- Net income, trailing twelve months
- −$270M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from SEDG and who it buys from, as the companies report it.
- Major customer one19%
Share of revenue · FY2025 10-K
- Top three customers36%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; SEDG’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.