SMRE Acquisition
10-K - Feb 27, 2020
On January 24, 2019, the Company completed the acquisition of 56.8% of the outstanding common shares and voting rights of SMRE, a provider of innovative integrated powertrain technology and electro...
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Solaredge Technologies, Inc.
SEDGActiveCIK 1419612 · Renewables, RNG & Sustainability Infrastructure
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, SEDG filings, SEC EDGAR
$2,512
Market cap ($MM)
$2,348
Enterprise value ($MM)
$1,275
Revenue · LTM ($MM)
($199)
EBITDA · LTM ($MM)
-16%
EBITDA margin
1.8x
EV / revenue
NM
EV / EBITDA
NM
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01SEDG is a scaled public consolidator in Renewables & RNG, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is AMRC, NEE, CWEN, BEP, BEPC, ORA.
Balance sheet & capacity
Indicative capacity read: public-market scale of $2.3B enterprise value against $1.3B revenue.
$512
Cash & equiv. ($MM)
$20
Total debt ($MM)
($492)
Net debt ($MM)
NM
Net debt / EBITDA
Valuation
Where it trades against its peer set
SEDG versus the scaled public Renewables, RNG & Sustainability Infrastructure comparables.
Indexed share-price performance
SEDG versus available Renewables, RNG & Sustainability Infrastructure peers and SPY.
-73%
SEDG
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Solaredge Technologies, Inc. | SEDG | $1,275 | ($199) | -16% | $2,512 | $2,348 | 1.8x | NM | NM |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
SEDG's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
8
Active years
4
Named deals
1
Avg / active year
2.0
Acq. cash outflow ($MM)
N/A
Banker read
- 01SEDG reads as a programmatic acquirer: 8 disclosed acquisitions across 4 active years, or 2.0 per active year. The chart shows activity in 4 of the last 4 visible years.
- 02In the last three years, the file shows 3 acquisitions versus 2 in the prior three; recent activity is running above the prior three-year period.
- 03Spend changes the read: $187MM of disclosed spend is concentrated in lumpy years, with FY18 the largest year at $83.5MM. Recent spend is above the prior three-year period.
Annual acquisitions + disclosed spend
count spend named deal
SEDG count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
3 / 2
Last three years is up 50% vs prior three.
Peak count year
FY18
2 disclosed acquisitions in the peak visible year.
Recent spend
$103MM
is up 23% vs prior three; peak FY18 at $83.5MM.
Named evidence
1 rows
13% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Jan 24, 2019 | SMRE | Renewables, RNG, circularity, and sustainability infrastructure | $73,036 | On January 24, 2019, the Company completed the acquisition of 56.8% of the outstanding common shares and voting rights of SMRE, a provider of innovative integrated powertrain te... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 2 SEC-backed facts across 1 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
0
Named deal filings
1
Recent SEC filings
0
Evidence clips
1
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.0 rows+-
No filing source clears this category.
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.1 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 27, 2020 | 10-K | SMRE | Named deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.1 rows+-
Medium
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.