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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and SOLAREDGE TECHNOLOGIES, INC. (SEDG). Click either name above to swap in a different company.
SOLAREDGE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($335.4M vs $114.8M, roughly 2.9× HA Sustainable Infrastructure Capital, Inc.). SOLAREDGE TECHNOLOGIES, INC. runs the higher net margin — -39.4% vs -46.8%, a 7.4% gap on every dollar of revenue. On growth, SOLAREDGE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (70.9% vs 13.3%). Over the past eight quarters, SOLAREDGE TECHNOLOGIES, INC.'s revenue compounded faster (28.1% CAGR vs 4.2%).
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
SolarEdge Technologies, Inc. is an Israeli company that developed a DC optimized inverter system.
HASI vs SEDG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $335.4M |
| Net Profit | $-53.8M | $-132.1M |
| Gross Margin | — | 22.2% |
| Operating Margin | -57.4% | -14.4% |
| Net Margin | -46.8% | -39.4% |
| Revenue YoY | 13.3% | 70.9% |
| Net Profit YoY | -176.7% | 54.0% |
| EPS (diluted) | $-0.38 | $-2.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $114.8M | $335.4M | ||
| Q3 25 | $103.1M | $340.2M | ||
| Q2 25 | $85.7M | $289.4M | ||
| Q1 25 | $96.9M | $219.5M | ||
| Q4 24 | $101.3M | $196.2M | ||
| Q3 24 | $82.0M | $235.4M | ||
| Q2 24 | $94.5M | $265.4M | ||
| Q1 24 | $105.8M | $204.4M |
| Q4 25 | $-53.8M | $-132.1M | ||
| Q3 25 | $83.3M | $-50.1M | ||
| Q2 25 | $98.4M | $-124.7M | ||
| Q1 25 | $56.6M | $-98.5M | ||
| Q4 24 | $70.1M | $-287.4M | ||
| Q3 24 | $-19.6M | $-1.2B | ||
| Q2 24 | $26.5M | $-130.8M | ||
| Q1 24 | $123.0M | $-157.3M |
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 21.2% | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | 8.0% | ||
| Q4 24 | — | -57.2% | ||
| Q3 24 | — | -309.1% | ||
| Q2 24 | — | -4.1% | ||
| Q1 24 | — | -12.8% |
| Q4 25 | -57.4% | -14.4% | ||
| Q3 25 | — | -10.3% | ||
| Q2 25 | — | -39.9% | ||
| Q1 25 | 84.7% | -46.8% | ||
| Q4 24 | 90.9% | -134.4% | ||
| Q3 24 | -32.1% | -471.8% | ||
| Q2 24 | 39.5% | -60.4% | ||
| Q1 24 | — | -85.0% |
| Q4 25 | -46.8% | -39.4% | ||
| Q3 25 | 80.8% | -14.7% | ||
| Q2 25 | 114.9% | -43.1% | ||
| Q1 25 | 58.4% | -44.9% | ||
| Q4 24 | 69.2% | -146.5% | ||
| Q3 24 | -23.9% | -522.8% | ||
| Q2 24 | 28.1% | -49.3% | ||
| Q1 24 | 116.3% | -77.0% |
| Q4 25 | $-0.38 | $-2.21 | ||
| Q3 25 | $0.61 | $-0.84 | ||
| Q2 25 | $0.74 | $-2.13 | ||
| Q1 25 | $0.44 | $-1.70 | ||
| Q4 24 | $0.58 | $-5.00 | ||
| Q3 24 | $-0.17 | $-21.58 | ||
| Q2 24 | $0.23 | $-2.31 | ||
| Q1 24 | $0.98 | $-2.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $110.2M | $493.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $427.5M |
| Total Assets | $8.2B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $493.2M | ||
| Q3 25 | $301.8M | $498.6M | ||
| Q2 25 | $86.5M | $758.0M | ||
| Q1 25 | $67.4M | $651.6M | ||
| Q4 24 | $129.8M | $585.9M | ||
| Q3 24 | $44.1M | $678.8M | ||
| Q2 24 | $145.7M | $689.8M | ||
| Q1 24 | $61.4M | $680.6M |
| Q4 25 | $2.7B | $427.5M | ||
| Q3 25 | $2.7B | $479.8M | ||
| Q2 25 | $2.6B | $513.2M | ||
| Q1 25 | $2.5B | $594.2M | ||
| Q4 24 | $2.4B | $658.3M | ||
| Q3 24 | $2.3B | $930.9M | ||
| Q2 24 | $2.3B | $2.1B | ||
| Q1 24 | $2.3B | $2.2B |
| Q4 25 | $8.2B | $2.2B | ||
| Q3 25 | $8.2B | $2.2B | ||
| Q2 25 | $7.6B | $2.5B | ||
| Q1 25 | $7.5B | $2.5B | ||
| Q4 24 | $7.1B | $2.6B | ||
| Q3 24 | $6.7B | $2.8B | ||
| Q2 24 | $6.7B | $3.9B | ||
| Q1 24 | $6.7B | $4.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $167.3M | $52.6M |
| Free Cash FlowOCF − Capex | — | $43.3M |
| FCF MarginFCF / Revenue | — | 12.9% |
| Capex IntensityCapex / Revenue | — | 2.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $80.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $52.6M | ||
| Q3 25 | $-121.8M | $25.6M | ||
| Q2 25 | $79.6M | $-7.8M | ||
| Q1 25 | $-37.1M | $33.8M | ||
| Q4 24 | $5.9M | $37.8M | ||
| Q3 24 | $21.9M | $-89.3M | ||
| Q2 24 | $-24.8M | $-44.8M | ||
| Q1 24 | $20.9M | $-217.0M |
| Q4 25 | — | $43.3M | ||
| Q3 25 | — | $22.8M | ||
| Q2 25 | — | $-9.1M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $25.5M | ||
| Q3 24 | — | $-136.7M | ||
| Q2 24 | — | $-67.0M | ||
| Q1 24 | — | $-243.4M |
| Q4 25 | — | 12.9% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | -58.1% | ||
| Q2 24 | — | -25.2% | ||
| Q1 24 | — | -119.1% |
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 12.9% |
| Q4 25 | — | — | ||
| Q3 25 | -1.46× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | -0.66× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.94× | — | ||
| Q1 24 | 0.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
SEDG
| Other | $197.7M | 59% |
| Europe Except Netherlands | $99.4M | 30% |
| Others | $38.2M | 11% |
