The latest financial stability ranking of the Hong Kong-based consultancy firm based on Altman-Z-Scores sees Hooymiles, Eaton and APSYSTEMS (Yuneng Technology) in the top three positions.
Sinovoltaics, a technical compliance and quality assurance of Hong Kong-Geshandel, has released its latest worldwide worldwide PV -Omverter manufacturer ranking reportThe provision of Altman-Z scores that followed quarterly from March 2022 to December 2024 for 33 companies.
“The Altman-Z scores in this report are based on Q4-2024 Financials. With the energy landscape that is being reformed under the new American administration, manufacturers of inverters must now prove both technological innovation and financial resilience, ”said Niclas D. Weimar, CTO of Sinovoltaics, PV Magazine.
“Our latest report identifies the companies that are best positioned to navigate through these changes. However, because new policy takes shape, developers and engineering, purchasing and construction (EPCs) must keep a close eye on future rankings to assess how publicly mentioned inverters manufacturers adapt to evolving our and worldwide energy policy and rates. “
According to the report, the number of companies followed remained stable compared to the report of the last quarter.
The best scoring inverter manufacturers are the Chinese Hymiles Power Electronics, followed by Irish energy management specialist Eaton, subsequently three -based companies APSYSTEMS (Yuneng Technology), Kstar Science and Technology and Sinexcel.
The next one on the list and located in the US EmersonDelta Electronics, based in Switzerland, established in Taiwan, ABB and France in Schneider Electric and Jiuzhou Electric, based in China.
Sinovoltaics notes that Altmann Z-Scores are based on a quantitative formula that takes into account business income and balance values when measuring the financial health of a listed company.
The assessment of the financial strength includes a credit test based on profitability, leverage, liquidity, solvency and activity ratios. A score that is 1.1 or lower indicates a higher chance of bankruptcy within the next two years, while a higher score of 2.6 or more indicates a solid financial position.
The Sinovoltaics Financial Stability Reports offer insight into stability scores over time and can be used by buyers or stakeholders in the industry, such as financial institutions, as part of Due Diligence, or to help identify financially stable partners, according to Sinovoltaics. It also notes that the rankings do not indicate the quality of PV equipment.
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