Sinovoltaics, a Hong Kong-based quality assurance services firm, released the third edition of its Sinovoltaics PV inverter manufacturer financial stability ranking, featuring 32 manufacturers. The ranking is based on publicly available information on publicly traded companies.
The top ten inverter manufacturers are China’s Hoymiles Power Electronics, Irish energy management specialist Eaton, U.S.-based microinverter specialist Enphase Energy, China-based Kstar Science and Technology and Taiwan-based Delta Electronics, followed by China’s Sinexcel, Switzerland-based ABB, China’s Goodwe, France’s Schneider Electric and U.S.-based Emerson.
In this edition, Schneider Electric is new to the top ten, coming up from fifteenth to ninth.
Sinovoltaics notes that the report, which is global in scope and calculated since September 2021, provides insight into how the financial strength of inverter manufacturers has evolved over the past three years. The report is free to download.
The ranking is based on a so-called Altmann Z-score, a quantitative formula that uses multiple corporate income and balance sheet values to measure the financial health of a company. Sinovoltaics assesses a company’s financial strength through a credit-strength test based on profitability, leverage, liquidity, solvency and activity ratios.
A score that is 1.1 or lower indicates a higher probability of bankruptcy within the next two years, while a higher score of 2.6 or greater indicates a solid financial position.
Sinovoltaics has published several other manufacturer rankings for the quarter, including reports focused on battery manufacturers and module manufacturers. It notes that the financial ranking does not indicate the quality of the equipment, rather they are meant to be used as an element of the due diligence process, or to help identify financially stable partners.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.