Cash and cash equivalents increased from 2015 to 2016 and again from 2016 to 2017, while accounts receivable, inventory, and total assets also significantly grew over this period. Total current liabilities rose from 2015 to 2016 but have declined slightly since as long-term debt has increased; the company's current ratio has remained around 1. Total stockholders' equity and noncontrolling interests have both expanded in recent years as well.

1. Balance Sheet
(in thousands)
31 Dec
2014
31 Dec
2015
31 Dec
2016
30 Sep
2017
Cash and cash equivalents 19,05,713 11,96,908 33,93,216 35,30,030
Restricted cash and marketable securities 17,947 22,628 1,05,519 1,38,181
Accounts receivable, net 2,26,604 1,68,965 4,99,142 6,07,734
Inventory 9,53,675 12,77,838 20,67,454 24,71,382
Prepaid expenses and other current assets 76,134 1,15,667 1,94,465 3,21,406
Total current assets 31,80,073 27,82,006 62,59,796 70,68,733
Operating lease vehicles, net 7,66,744 17,91,403 31,34,080 38,34,234
Solar energy systems, leased and to be leased, net - - 59,19,880 62,87,965
Property, plant and equipment, net 18,29,267 34,03,334 59,82,957 93,94,397
Intangible assets, net - 12,816 3,76,145 4,17,474
portion - - 5,06,302 4,63,878
Restricted cash, net of current portion 11,374 31,522 2,68,165 4,08,544
Other assets 43,209 46,858 2,16,751 2,31,849
Total assets 58,30,667 80,67,939 2,26,64,076 2,81,07,074
Accounts payable 7,77,946 9,16,148 18,60,341 23,85,778
Accrued liabilities 2,68,883 4,22,798 12,10,028 14,77,784
Deferred revenue 1,91,651 4,23,961 7,63,126 9,51,734
Resale value guarantees - 1,36,831 1,79,504 5,43,336
Customer deposits 2,57,587 2,83,370 6,63,859 6,86,084
Current portion of long-term debt and capital leases 6,11,099 6,27,927 9,84,211 3,24,224
Current portion of solar bonds issued to related -
parties - - 1,65,936 1,00,000
Total current liabilities 21,07,166 28,11,035 58,27,005 64,68,940
Long-term debt and capital leases, net of current
portion 18,18,785 20,21,093 58,60,049 95,81,616
Other liabilities 9,93,006 21,52,107 54,38,936 58,78,501
Total liabilities 49,18,957 69,84,235 1,71,25,990 2,19,29,057
Total stockholders' equity 9,11,710 10,83,704 47,52,911 51,14,780
Noncontrolling interests in subsidiaries - - 7,85,175 10,63,237
Total liabilities and equity 58,30,667 80,67,939 2,26,64,076 2,81,07,074
Current Ratio 1.51 0.99 1.07 1.09
DSO 25.51 15.03 25.67 25.83
DIO 148.20 147.32 137.81 133.05
DPO 120.89 105.62 124.00 128.44
Net Trading Cycle 52.81 56.73 39.47 30.44
Debt Ratio 1.19 1.16 1.32 1.28