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Enphase Energy, Inc.(ENPH)Earnings, Financials & Key Ratios
ENPH•NASDAQ
40.5× P/E·Price updated Jun 19, 2026
AboutEnphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.Show more
- Revenue$1.47B+10.7%
- EBITDA$245M+54.6%
- Net Income$172M+67.7%
- EPS (Diluted)1.29+72.0%
- Gross Margin46.64%-1.4%
- EBITDA Margin16.65%+39.6%
- Operating Margin11.18%+92.4%
- Net Margin11.69%+51.4%
- ROE17.93%+58.6%
ENPH Key Insights
Enphase Energy, Inc. (ENPH) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 25.9%
- ✓Momentum leader: RS Rating 90 (top 10%)
- ✓Strong 5Y sales CAGR of 13.7%
- ✓Share count reduced 3.7% through buybacks
- ✓Healthy 5Y average net margin of 13.2%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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ENPH Price & Volume
Enphase Energy, Inc. (ENPH) stock price & volume — 10-year historical chart
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ENPH Growth Metrics
Enphase Energy, Inc. (ENPH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.22%
5 Years13.72%
3 Years-14.19%
TTM-1.64%
Profit CAGR
10 Years-
5 Years5.14%
3 Years-24.34%
TTM-9.08%
EPS CAGR
10 Years-
5 Years6.31%
3 Years-22.49%
TTM-7.31%
Return on Capital
10 Years0.69%
5 Years13.43%
3 Years8.83%
Last Year6.81%
ENPH Recent Earnings
Enphase Energy, Inc. (ENPH) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$0.47+9.3%
$0.43
Rev
$283M+0.2%
$282M
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$0.71+31.5%
$0.54
Rev
$343M+1.4%
$338M
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$0.90+45.2%
$0.62
Rev
$410M+21.2%
$339M
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$0.69+11.3%
$0.62
Rev
$363M-1.4%
$368M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.47vs $0.43+9.3% | $283Mvs $282M+0.2% |
| Q1 2026 | Feb 3, 2026 | $0.71vs $0.54+31.5% | $343Mvs $338M+1.4% |
| Q4 2025 | Oct 28, 2025 | $0.90vs $0.62+45.2% | $410Mvs $339M+21.2% |
| Q3 2025 | Jul 22, 2025 | $0.69vs $0.62+11.3% | $363Mvs $368M-1.4% |
Based on last 12 quarters of dataView full earnings history →
ENPH Peer Comparison
Enphase Energy, Inc. (ENPH) competitors in Solar modules and inverters — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 SEDG | 3.53B | 58.05 | -8.41 | 31.39% | -28.56% | -79.58% | 0.99 | |
 FSLR | 27.69B | 257.70 | 18.14 | 24.09% | 30.73% | 18.01% | 0.05 | |
 ARRY | 1.23B | 8.00 | -10.96 | 40.22% | -5.56% | -20.64% | 2.94 | |
 SHLS | 1.75B | 10.42 | 52.10 | 19.07% | 6.27% | 5.67% | 0.29 | |
 GTLS | 9.96B | 207.99 | 630.27 | 2.49% | -0.63% | -0.78% | 1.11 | |
 SPWR | 127.72M | 0.78 | -11.66 | 2.92% | -8.66% | |||
 RUN | 3.23B | 13.52 | 7.91 | 45.11% | 17.9% | 12.42% | 2.99 | |
 STEM | 70.03M | 8.22 | -0.90 | 8.08% | 93.33% |
Compare ENPH vs Peers
Enphase Energy, Inc. (ENPH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ENPH Income Statement
Enphase Energy, Inc. (ENPH) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 286.17M | 316.16M | 624.33M | 774.42M | 1.38B | 2.33B | 2.29B | 1.33B | 1.47B | 1.4B |
Revenue Growth % | -11.29% | 10.48% | 97.47% | 24.04% | 78.46% | 68.65% | -1.72% | -41.92% | 10.72% | -1.64% |
Cost of Goods Sold | 230.12M | 221.71M | 403.09M | 428.44M | 827.63M | 1.36B | 1.23B | 701.25M | 785.98M | 780.64M |
COGS % of Revenue | 80.42% | 70.13% | 64.56% | 55.32% | 59.88% | 58.19% | 53.8% | 52.71% | 53.36% | - |
Gross Profit | 56.04M▲ 0% | 94.44M▲ 68.5% | 221.25M▲ 134.3% | 345.98M▲ 56.4% | 554.42M▲ 60.2% | 974.6M▲ 75.8% | 1.06B▲ 8.6% | 629.14M▼ 40.6% | 687M▲ 9.2% | 619.16M▲ 0% |
Gross Margin % | 19.58% | 29.87% | 35.44% | 44.68% | 40.12% | 41.81% | 46.2% | 47.29% | 46.64% | 44.23% |
Gross Profit Growth % | -3.39% | 68.52% | 134.26% | 56.38% | 60.25% | 75.79% | 8.6% | -40.56% | 9.2% | - |
Operating Expenses | 95.42M | 92.85M | 118.52M | 159.54M | 338.59M | 526.33M | 612.65M | 551.85M | 522.35M | 523.84M |
OpEx % of Revenue | 33.34% | 29.37% | 18.98% | 20.6% | 24.5% | 22.58% | 26.74% | 41.48% | 35.46% | - |
Selling, General & Admin | 45.35M | 56.13M | 75.54M | 103.62M | 233.06M | 355.1M | 369.63M | 337.38M | 333.27M | 331.63M |
SG&A % of Revenue | 15.85% | 17.75% | 12.1% | 13.38% | 16.86% | 15.23% | 16.14% | 25.36% | 22.63% | - |
Research & Development | 33.16M | 32.59M | 40.38M | 55.92M | 105.53M | 168.85M | 227.34M | 201.31M | 189.07M | 183.77M |
R&D % of Revenue | 11.59% | 10.31% | 6.47% | 7.22% | 7.64% | 7.24% | 9.92% | 15.13% | 12.84% | - |
Other Operating Expenses | 16.92M | 4.13M | 2.6M | 0 | 0 | 2.38M | 15.68M | 13.15M | 0 | 3M |
Operating Income | -39.38M▲ 0% | 1.6M▲ 104.1% | 102.73M▲ 6336.7% | 186.44M▲ 81.5% | 215.83M▲ 15.8% | 448.26M▲ 107.7% | 445.74M▼ 0.6% | 77.29M▼ 82.7% | 164.66M▲ 113.0% | 95.32M▲ 0% |
Operating Margin % | -13.76% | 0.5% | 16.45% | 24.07% | 15.62% | 19.23% | 19.46% | 5.81% | 11.18% | 6.81% |
Operating Income Growth % | 37.2% | 104.05% | 6336.65% | 81.49% | 15.77% | 107.69% | -0.56% | -82.66% | 113.03% | - |
EBITDA | -30.37M | 11.26M | 116.85M | 204.54M | 246.68M | 507.04M | 520.45M | 158.68M | 245.3M | 171.2M |
EBITDA Margin % | -10.61% | 3.56% | 18.72% | 26.41% | 17.85% | 21.75% | 22.72% | 11.93% | 16.65% | 12.23% |
EBITDA Growth % | 41.66% | 137.08% | 937.45% | 75.05% | 20.6% | 105.55% | 2.65% | -69.51% | 54.59% | -22% |
D&A (Non-Cash Add-back) | 9M | 9.67M | 14.12M | 18.1M | 30.85M | 58.77M | 74.71M | 81.39M | 80.64M | 58.73M |
EBIT | -37.13M | 464K | 99.81M | 140.41M | 166.08M | 461.49M | 521.98M | 129.06M | 209.34M | 147.9M |
Net Interest Income | -7.94M | -9.63M | -7.18M | -18.84M | -44.46M | 4.22M | 60.89M | 68.4M | 58.2M | 55.21M |
Interest Income | 0 | 0 | 2.51M | 2.16M | 695K | 13.66M | 69.73M | 77.31M | 62.72M | 58.31M |
Interest Expense | 7.94M | 9.63M | 9.69M | 21M | 45.15M | 9.44M | 8.84M | 8.9M | 4.52M | 3.11M |
Other Income/Expense | -5.96M | -11.82M | -12.62M | -67.03M | -94.9M | 3.79M | 67.4M | 42.87M | 40.16M | 48.74M |
Pretax Income | -45.34M▲ 0% | -10.23M▲ 77.4% | 90.11M▲ 981.0% | 119.41M▲ 32.5% | 120.93M▲ 1.3% | 452.05M▲ 273.8% | 513.14M▲ 13.5% | 120.16M▼ 76.6% | 204.81M▲ 70.5% | 144.06M▲ 0% |
Pretax Margin % | -15.84% | -3.24% | 14.43% | 15.42% | 8.75% | 19.39% | 22.4% | 9.03% | 13.9% | 10.29% |
Income Tax | -149K | 1.4M | -71.03M | -14.59M | -24.52M | 54.69M | 74.2M | 17.5M | 32.68M | 9.06M |
Effective Tax Rate % | 0.33% | -13.67% | -78.83% | -12.21% | -20.28% | 12.1% | 14.46% | 14.56% | 15.96% | 6.29% |
Net Income | -45.19M▲ 0% | -11.63M▲ 74.3% | 161.15M▲ 1486.0% | 134M▼ 16.8% | 145.45M▲ 8.5% | 397.36M▲ 173.2% | 438.94M▲ 10.5% | 102.66M▼ 76.6% | 172.13M▲ 67.7% | 135M▲ 0% |
Net Margin % | -15.79% | -3.68% | 25.81% | 17.3% | 10.52% | 17.05% | 19.16% | 7.72% | 11.69% | 9.64% |
Net Income Growth % | 33.01% | 74.27% | 1485.98% | -16.85% | 8.55% | 173.2% | 10.46% | -76.61% | 67.68% | -9.08% |
Net Income (Continuing) | -45.19M | -11.63M | 161.15M | 134M | 145.45M | 397.36M | 438.94M | 102.66M | 172.13M | 135M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.54▲ 0% | -0.12▲ 77.8% | 1.23▲ 1125.0% | 0.95▼ 22.8% | 1.02▲ 7.4% | 2.77▲ 171.6% | 3.08▲ 11.2% | 0.75▼ 75.6% | 1.29▲ 72.0% | 1.03▲ 0% |
EPS Growth % | 59.7% | 77.78% | 1125% | -22.76% | 7.37% | 171.57% | 11.19% | -75.65% | 72% | -7.31% |
EPS (Basic) | -0.54 | -0.12 | 1.38 | 1.07 | 1.09 | 2.94 | 3.22 | 0.76 | 1.31 | - |
Diluted Shares Outstanding | 82.94M | 99.62M | 131.64M | 141.92M | 142.88M | 144.39M | 143.29M | 140M | 134.89M | 131.34M |
Basic Shares Outstanding | 82.94M | 96.89M | 116.71M | 125.56M | 134.03M | 135.35M | 136.38M | 135.17M | 131.16M | 131.34M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
ENPH Balance Sheet
Enphase Energy, Inc. (ENPH) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 130.45M | 222.3M | 499.66M | 933.06M | 1.46B | 2.26B | 2.44B | 2.33B | 2.61B | 1.83B |
Cash & Short-Term Investments | 29.14M | 106.24M | 251.41M | 679.38M | 1.02B | 1.61B | 1.7B | 1.62B | 1.51B | 930.64M |
Cash Only | 29.14M | 106.24M | 251.41M | 679.38M | 119.32M | 473.24M | 288.75M | 369.11M | 474.32M | 497.55M |
Short-Term Investments | 0 | 0 | 0 | 0 | 897.34M | 1.14B | 1.41B | 1.25B | 1.04B | 433.1M |
Accounts Receivable | 65.35M | 78.94M | 145.41M | 200.04M | 333.63M | 440.9M | 445.96M | 223.75M | 229.88M | 196.58M |
Days Sales Outstanding | 83.35 | 91.13 | 85.01 | 94.28 | 88.11 | 69.04 | 71.06 | 61.39 | 56.96 | 62.42 |
Inventory | 26M | 16.27M | 32.06M | 41.76M | 74.4M | 149.71M | 213.59M | 165M | 288.05M | 290.7M |
Days Inventory Outstanding | 41.24 | 26.78 | 29.03 | 35.58 | 32.81 | 40.29 | 63.26 | 85.89 | 133.77 | 109.93 |
Other Current Assets | 9.96M | 20.86M | 44.7M | 11.88M | 0 | 60.82M | 48.69M | 315.74M | 0 | 412.35M |
Total Non-Current Assets | 38.7M | 117.64M | 213.57M | 267.04M | 616.79M | 820.01M | 939.49M | 922.59M | 902.93M | 893.65M |
Property, Plant & Equipment | 26.48M | 21M | 39.05M | 60.67M | 96.59M | 132.75M | 188.13M | 172.13M | 136.8M | 138.87M |
Fixed Asset Turnover | 10.81x | 15.06x | 15.99x | 12.76x | 14.31x | 17.56x | 12.18x | 7.73x | 10.77x | 9.83x |
Goodwill | 3.66M | 24.78M | 24.78M | 24.78M | 181.25M | 213.56M | 214.56M | 211.57M | 214.76M | 213.74M |
Intangible Assets | 515K | 35.31M | 30.58M | 28.81M | 97.76M | 99.54M | 68.54M | 42.4M | 22.29M | 17.56M |
Long-Term Investments | 0 | 0 | 0 | 51.99M | 0 | 157.77M | 0 | 0 | 0 | 170.37M |
Other Non-Current Assets | 8.04M | 36.55M | 44.62M | 7.89M | 118.73M | 11.52M | 215.9M | 180.93M | 529.08M | 211.71M |
Total Assets | 169.15M▲ 0% | 339.94M▲ 101.0% | 713.22M▲ 109.8% | 1.2B▲ 68.3% | 2.08B▲ 73.3% | 3.08B▲ 48.3% | 3.38B▲ 9.7% | 3.25B▼ 3.9% | 3.51B▲ 8.0% | 2.72B▲ 0% |
Asset Turnover | 1.69x | 0.93x | 0.88x | 0.65x | 0.66x | 0.76x | 0.68x | 0.41x | 0.42x | 0.44x |
Asset Growth % | 3.41% | 100.97% | 109.81% | 68.26% | 73.26% | 48.34% | 9.69% | -3.94% | 8% | -2.19% |
Total Current Liabilities | 91.74M | 147.16M | 199.31M | 534.04M | 439.8M | 638.22M | 532.45M | 660.09M | 1.26B | 481.78M |
Accounts Payable | 28.75M | 48.79M | 57.47M | 72.61M | 113.77M | 125.08M | 116.16M | 90.03M | 203.04M | 113.46M |
Days Payables Outstanding | 45.6 | 80.33 | 52.04 | 61.86 | 50.17 | 33.66 | 34.4 | 46.86 | 94.29 | 78.06 |
Short-Term Debt | 17.43M | 28.16M | 2.88M | 330.51M | 86.05M | 90.89M | 5.22M | 101.29M | 632.18M | 0 |
Deferred Revenue (Current) | 15.69M | 33.12M | 81.78M | 47.66M | 62.67M | 90.75M | 118.3M | 237.22M | 0 | 565.38M |
Other Current Liabilities | 26.27M | 32.99M | 10.08M | 76.63M | 19.39M | 291.97M | 273.92M | 34.66M | 201.35M | 28.41M |
Current Ratio | 1.42x | 1.51x | 2.51x | 1.75x | 3.33x | 3.55x | 4.59x | 3.53x | 2.07x | 3.80x |
Quick Ratio | 1.14x | 1.40x | 2.35x | 1.67x | 3.16x | 3.31x | 4.19x | 3.28x | 1.84x | 3.20x |
Cash Conversion Cycle | 78.99 | 37.58 | 62 | 68.01 | 70.75 | 75.67 | 99.91 | 100.41 | 96.44 | 94.29 |
Total Non-Current Liabilities | 86.53M | 185M | 241.7M | 182.07M | 1.21B | 1.62B | 1.87B | 1.76B | 1.16B | 1.14B |
Long-Term Debt | 32.32M | 81.63M | 102.66M | 4.9M | 951.59M | 1.2B | 1.29B | 1.2B | 572.19M | 572.51M |
Capital Lease Obligations | 0 | 0 | 0 | 15.21M | 11.92M | 19.08M | 18.8M | 23.04M | 31.2M | 50.2M |
Deferred Tax Liabilities | 22.39M | 23.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 24.27M | 26.46M | 38.84M | 36.49M | 58.59M | 120.33M | 185.23M | 190.45M | 219.31M | 241.05M |
Total Liabilities | 178.27M | 332.16M | 441.01M | 716.11M | 1.65B | 2.26B | 2.4B | 2.42B | 2.42B | 1.62B |
Total Debt | 49.75M | 109.78M | 108.71M | 350.62M | 1.05B | 1.31B | 1.32B | 1.33B | 1.24B | 581.11M |
Net Debt | 20.61M | 3.55M | -142.7M | -328.76M | 934.08M | 841.56M | 1.03B | 962.13M | 769.47M | 83.57M |
Debt / Equity | - | 14.12x | 0.40x | 0.72x | 2.45x | 1.59x | 1.34x | 1.60x | 1.14x | 0.53x |
Debt / EBITDA | - | 9.75x | 0.93x | 1.71x | 4.27x | 2.59x | 2.53x | 8.39x | 5.07x | 3.39x |
Net Debt / EBITDA | - | 0.31x | -1.22x | -1.61x | 3.79x | 1.66x | 1.98x | 6.06x | 3.14x | 0.49x |
Interest Coverage | -4.68x | 0.05x | 10.30x | 6.69x | 3.68x | 48.90x | 59.05x | 14.49x | 46.30x | 47.60x |
Total Equity | -9.13M▲ 0% | 7.78M▲ 185.2% | 272.21M▲ 3400.7% | 483.99M▲ 77.8% | 430.17M▼ 11.1% | 825.57M▲ 91.9% | 983.62M▲ 19.1% | 833.02M▼ 15.3% | 1.09B▲ 30.5% | 1.1B▲ 0% |
Equity Growth % | -802% | 185.21% | 3400.67% | 77.8% | -11.12% | 91.92% | 19.14% | -15.31% | 30.49% | 72.86% |
Book Value per Share | -0.11 | 0.08 | 2.07 | 3.41 | 3.01 | 5.72 | 6.86 | 5.95 | 8.06 | 8.39 |
Total Shareholders' Equity | -9.13M | 7.78M | 272.21M | 483.99M | 430.17M | 825.57M | 983.62M | 833.02M | 1.09B | 1.1B |
Common Stock | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K |
Retained Earnings | -295.73M | -346.3M | -185.18M | -51.19M | -405.74M | 17.34M | 46.27M | -245.21M | -203.9M | -211.3M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -656K | 742K | -923K | 434K | -2.02M | -10.88M | -1.99M | -6.35M | 1.75M | -5.82M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
ENPH Cash Flow Statement
Enphase Energy, Inc. (ENPH) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -28.44M | 16.13M | 139.07M | 216.33M | 352.03M | 744.82M | 696.78M | 513.69M | 136.54M | 191M |
Operating CF Margin % | -9.94% | 5.1% | 22.27% | 27.93% | 25.47% | 31.95% | 30.42% | 38.61% | 9.27% | - |
Operating CF Growth % | 13.69% | 156.72% | 762.06% | 55.56% | 62.72% | 111.58% | -6.45% | -26.28% | -73.42% | -129.94% |
Net Income | -45.19M | -11.63M | 161.15M | 134M | 145.45M | 397.36M | 438.94M | 102.66M | 172.13M | 135M |
Depreciation & Amortization | 9M | 9.67M | 14.12M | 18.1M | 30.85M | 52.4M | 74.71M | 81.39M | 81.69M | 86.19M |
Stock-Based Compensation | 6.73M | 11.43M | 20.18M | 42.5M | 114.29M | 0 | 212.86M | 211.36M | 214.09M | 207.45M |
Deferred Taxes | -1.39M | 123K | -73.38M | -17.12M | -31.24M | 3.63M | -43.35M | -58.32M | 6.08M | -5.6M |
Other Non-Cash Items | 5.22M | 5.01M | 15.57M | 63.5M | 77.63M | 229.3M | -3.5M | 33.6M | 15.44M | 50.48M |
Working Capital Changes | -2.81M | 1.52M | 1.43M | -24.65M | 15.06M | 62.13M | 17.13M | 143M | -352.89M | -282.51M |
Change in Receivables | -4.8M | -13.52M | -68.75M | -34.32M | -151.16M | -107.56M | -12.48M | 211.64M | 3.84M | 43.63M |
Change in Inventory | 5.96M | 9.73M | -15.79M | -9.71M | -29.26M | -75.27M | -63.89M | 48.59M | -123.04M | -146.68M |
Change in Payables | -8.07M | 23.08M | 22.2M | 35.7M | 117.18M | 133.42M | -22.15M | -85.54M | 139.14M | -33.22M |
Cash from Investing | -4.12M | -19.15M | -14.79M | -25.57M | -1.22B | -371.91M | -366.36M | 128.27M | 106.79M | 570.12M |
Capital Expenditures | -4.12M | -4.15M | -14.79M | -20.56M | -52.26M | -46.44M | -110.4M | -33.6M | -40.64M | -45.93M |
CapEx % of Revenue | 1.44% | 1.31% | 2.37% | 2.65% | 3.78% | 1.99% | 4.82% | 2.53% | 2.76% | 3.28% |
Acquisitions | 0 | -15M | 0 | -5.01M | -293.65M | -62.16M | -15M | 0 | 0 | 0 |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 0 | -15M | 0 | 0 | -250K | 0 | 0 | 0 | -69.55M | -54.5M |
Cash from Financing | 43.3M | 80.61M | 65.85M | 191.68M | 309.41M | -17.13M | -516.77M | -460.27M | -241.62M | -678.63M |
Debt Issued (Net) | 16.34M | 58.05M | 81.56M | 269.12M | 610.26M | 0 | 0 | -7K | -102.17M | 0 |
Equity Issued (Net) | 0 | 19.77M | 0 | 0 | -271.72M | 10.37M | -396.13M | -378.68M | -121.43M | -23.21M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | -500M | 0 | -410M | -391.36M | -129.96M | -31.67M |
Other Financing | 26.95M | 2.8M | -15.71M | -77.44M | -29.14M | -27.5M | -120.65M | -81.59M | -18.03M | -655.42M |
Net Change in Cash | 11.38M▲ 0% | 77.09M▲ 577.4% | 189.87M▲ 146.3% | 383.27M▲ 101.9% | -560.06M▼ 246.1% | 353.93M▲ 163.2% | -184.5M▼ 152.1% | 175.37M▲ 195.1% | 10.2M▼ 94.2% | 82.46M▲ 0% |
Free Cash Flow | -32.56M▲ 0% | 11.98M▲ 136.8% | 124.28M▲ 937.3% | 195.78M▲ 57.5% | 299.52M▲ 53.0% | 698.37M▲ 133.2% | 586.38M▼ 16.0% | 480.09M▼ 18.1% | 95.9M▼ 80.0% | 145.07M▲ 0% |
FCF Margin % | -11.38% | 3.79% | 19.91% | 25.28% | 21.67% | 29.96% | 25.6% | 36.09% | 6.51% | 10.36% |
FCF Growth % | 28.9% | 136.79% | 937.3% | 57.53% | 52.99% | 133.16% | -16.04% | -18.13% | -80.02% | -69.27% |
FCF per Share | -0.39 | 0.12 | 0.94 | 1.38 | 2.10 | 4.84 | 4.09 | 3.43 | 0.71 | 1.10 |
FCF Conversion (FCF/Net Income) | 0.63x | -1.39x | 0.86x | 1.61x | 2.42x | 1.87x | 1.59x | 5.00x | 0.79x | 1.07x |
Interest Paid | 5.82M | 6.34M | 2.69M | 1.88M | 733K | 455K | 455K | 255K | 0 | 0 |
Taxes Paid | 909K | 775K | 1.75M | 3.45M | 4.82M | 33.17M | 74.71M | 32.66M | 0 | 0 |
ENPH Key Ratios
Enphase Energy, Inc. (ENPH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | - | -149.52% | 115.11% | 35.44% | 31.82% | 63.29% | 48.52% | 11.3% | 17.93% | 13.28% |
Return on Invested Capital (ROIC) | -204.26% | 10.5% | 109.41% | 98.21% | 21.31% | 22.18% | 18.17% | 3.04% | 6.76% | 4.35% |
Gross Margin | 19.58% | 29.87% | 35.44% | 44.68% | 40.12% | 41.81% | 46.2% | 47.29% | 46.64% | 44.23% |
Net Margin | -15.79% | -3.68% | 25.81% | 17.3% | 10.52% | 17.05% | 19.16% | 7.72% | 11.69% | 9.64% |
Debt / Equity | - | 14.12x | 0.40x | 0.72x | 2.45x | 1.59x | 1.34x | 1.60x | 1.14x | 0.53x |
Interest Coverage | -4.68x | 0.05x | 10.30x | 6.69x | 3.68x | 48.90x | 59.05x | 14.49x | 46.30x | 47.60x |
FCF Conversion | 0.63x | -1.39x | 0.86x | 1.61x | 2.42x | 1.87x | 1.59x | 5.00x | 0.79x | 1.07x |
Revenue Growth | -11.29% | 10.48% | 97.47% | 24.04% | 78.46% | 68.65% | -1.72% | -41.92% | 10.72% | -1.64% |
Related:ENPH Dividend History·ENPH Revenue History·ENPH Price History·ENPH P/E History·ENPH Financial Ratios·ENPH Institutional Holders
ENPH SEC Filings & Documents
Enphase Energy, Inc. (ENPH) SEC filings — annual & quarterly reports (10-K, 10-Q)
ENPH Frequently Asked Questions
Enphase Energy, Inc. (ENPH) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Enphase Energy, Inc. (ENPH) reported $1.40B in revenue for fiscal year 2025. This represents a 6832% increase from $20.2M in 2009.
Enphase Energy, Inc. (ENPH) grew revenue by 10.7% over the past year. This is steady growth.
Yes, Enphase Energy, Inc. (ENPH) is profitable, generating $135.0M in net income for fiscal year 2025 (11.7% net margin).
Dividend & Returns
Enphase Energy, Inc. (ENPH) has a return on equity (ROE) of 17.9%. This is reasonable for most industries.
Enphase Energy, Inc. (ENPH) generated $145.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.