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Enphase Energy, Inc.

ENPH

$33.07 ▼ -1.34 (-3.89%) at close

16 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Fair

Bullish

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Analytical Summary

Enphase Energy, Inc. shows strong fundamentals with top-quartile Return on Common Equity (%). The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $4.3B

Dividend Yield —

Revenue Growth 10.7% ↗

Op. Margin 10.7% ↗

ROIC 5.8% ↗

FCF / Share $0.73 ↘

Trailing P/E 25.2x

Price / Book 4.0x

FCF Yield 2.2%

Debt / Equity 1.11

info Valuation on last close. End-of-day price, Sep 23, 2026.

16-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$1.47B

↑ +10.7% —

Net Income Profit after all expenses

$172.13M

↑ +67.7% —

Operating Margin Operating profit as % of sales

10.7%

↑ +84.1% 58th

FCF / Share Free cash flow per share

$0.73

↓ -79.4% —

Long-Term Debt Long-term obligations

$1.20B

↓ -7.5% —

trending_up

Bullish Indicators

Return on Common Equity (%)Return on Common Equity (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↓

Returns ↓

Financial Health →

Cash Quality ↓

Financial view

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Revenue Growth YoY (%)	10.7% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-11%)	-41.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-449%)	-1.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-114%)	68.7% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+472%)	78.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+554%)	144.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1108%)	10.5% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-13%)	-11.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-194%)	-9.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-181%)	3.9% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-68%)	47.7% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+297%)	7.5% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-38%)	44.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+274%)	142.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1087%)	—	—
EPS Growth YoY (%)	72.4% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-76.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	67.7% Excellent ↑ Excellent Improving Year-over-year change in net income	-76.6% Weak ↓ Weak Declining Year-over-year change in net income	10.5% Fair ↓ Fair Declining Year-over-year change in net income	173.2% Excellent ↑ Excellent Improving Year-over-year change in net income	8.5% Fair ↓ Fair Declining Year-over-year change in net income	N/M	74.3% Excellent ↑ Excellent Improving Year-over-year change in net income	33.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-205.5% Weak ↓ Weak Declining Year-over-year change in net income	-174.2% Weak ↓ Weak Declining Year-over-year change in net income	68.9% Excellent ↑ Excellent Improving Year-over-year change in net income	32.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-18.4% Weak Weak Year-over-year change in net income	-48.3% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-79.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	-17.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	-16.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	130.7% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	43.4% Excellent Excellent Year-over-year change in free cash flow	1196.4% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	-14.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-1.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	43.5% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	94.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	69.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	33.9% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-4.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-5.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	11.5% Good ↓ Good Declining Compound annual revenue growth over 3 years	18.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	32.0% Excellent Excellent Compound annual revenue growth over 3 years	55.7% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	13.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	33.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	51.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	48.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	31.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	17.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	6.3% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	5.7% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	16.6% Excellent Excellent Compound annual revenue growth over 5 years	42.1% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Operating Margin (%) (%)	10.7% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	5.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	19.5% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	19.2% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	15.6% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-22%)	24.1% Good Good Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+20%)	0.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	—	—	—	—	—	—	—	—	—
Effective Tax Rate (%) (%)	16.0% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	14.6% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	14.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	12.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-20.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-12.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-13.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-6.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-10.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-3.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	11.7% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-22%)	7.7% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	19.2% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+28%)	17.0% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+14%)	10.5% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-30%)	17.3% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+15%)	-3.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-125%)	-15.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-205%)	-20.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-239%)	-6.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-141%)	-2.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-116%)	-11.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-174%)	-17.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-218%)	-21.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-244%)	-35.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-335%)	—
FCF Margin (%) (%)	6.5% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	36.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	25.6% Excellent → Excellent Stable Free cash flow as a percentage of revenue Optimal: > 10%	30.0% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	21.7% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	25.3% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	3.8% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-11.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-14.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-9.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.2% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-3.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-26.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-10.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-34.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	0.56x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	4.68x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.34x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.76x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.06x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.46x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	-1.03x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.72x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.67x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.53x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-1.36x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.28x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.51x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.47x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Return on Invested Capital (%)	5.8% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	3.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	16.7% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	18.6% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	17.7% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	25.7% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	1.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—	—	—	—	—	—	—
Return on Capital (%) (%)	4.5% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	2.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	13.2% Good → Good Stable Operating profit relative to total assets Optimal: > 10%	14.5% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	10.4% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	15.5% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	0.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	—	—	—	—	—
Return on Common Equity (%) (%)	15.8% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-14%)	12.3% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-33%)	44.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+141%)	48.1% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+160%)	33.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+83%)	27.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+50%)	-149.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-908%)	—	—	-53.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-388%)	-17.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-193%)	-64.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-448%)	-67.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-465%)	-231.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1349%)	-56.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-406%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Debt to Equity (x)	1.11x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+146%)	1.56x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+247%)	1.32x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+192%)	1.56x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+247%)	2.41x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+436%)	0.68x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+52%)	13.57x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+2916%)	-5.45x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-1311%)	18.31x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+3968%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.28x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-39%)	0.20x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-57%)	1.05x Caution Caution Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+133%)	—	—
Interest Coverage (x)	1230.67x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	303.11x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	979.65x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	47.50x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	4.78x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	8.88x Good Good Operating income divided by interest expense Optimal: > 5x	0.15x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—	—	—
Net Debt (USD)	$730.06M	$933.27M	$1.00B	$817.11M	$918.33M	$-348.51M	$-694.00K	$20.61M	$6.04M	$-28.45M	$-42.03M	$-27.13M	$-34.23M	$-36.85M	$-39.99M	$-8.64M
Debt / EBITDA (x)	5.06x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	8.21x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.49x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.54x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.21x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.62x Good Good Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	9.37x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Revenue per Share (USD)	$11.23	$9.84	$16.80	$17.22	$10.31	$6.17	$3.17	—	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$1.31	$0.76	$3.22	—	—	—	—	—	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$0.73	$3.55	$4.30	$5.16	$2.24	$1.56	$0.12	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$8.29	$6.29	$7.25	$6.05	$3.21	$3.75	$0.06	$-0.11	$0.02	$0.90	$1.07	$0.95	$1.39	$8.23	—	—
Tangible Book Value per Share (USD)	$6.48	$4.37	$5.16	$3.76	$1.13	$3.34	$-0.39	$-0.15	$-0.05	$0.77	$0.95	$0.95	$1.39	$8.23	—	—
Basic Weighted Avg Shares (shares)	131.16M	135.17M	136.38M	135.35M	134.03M	125.56M	99.62M	—	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Working Capital (USD)	$1.34B	$1.67B	$1.91B	$1.63B	$1.02B	$399.02M	$300.35M	$38.70M	$35.09M	$48.92M	$56.19M	$57.14M	$61.14M	$29.42M	—	—
LT Debt (USD)	$1.20B	$1.30B	$1.29B	$1.29B	$1.04B	$330.87M	$105.54M	$49.75M	$23.80M	$0.00	$0.00	$11.06M	$11.06M	$14.68M	—	—
Total Equity (USD)	$1.09B	$833.02M	$983.62M	$825.57M	$430.17M	$483.99M	$7.78M	$-9.13M	$1.30M	$41.45M	$46.95M	$40.21M	$56.66M	$13.97M	$38.48M	$13.63M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Sales/Revenue/Turnover (USD)	$1.47B	$1.33B	$2.29B	$2.33B	$1.38B	$774.42M	$316.16M	$286.17M	$322.59M	$357.25M	$343.90M	$232.85M	$216.68M	$149.52M	$61.66M	—
Depreciation Expense (USD)	$80.64M	$81.39M	$74.71M	$58.77M	$30.85M	$18.10M	$9.67M	$9.00M	$10.64M	$10.54M	$8.26M	$6.98M	$5.57M	$3.03M	$1.55M	—
Net Income, GAAP (USD)	$172.13M	$102.66M	$438.94M	$397.36M	$145.45M	$134.00M	$-11.63M	$-45.19M	$-67.46M	$-22.08M	$-8.05M	$-25.91M	$-38.22M	$-32.29M	$-21.78M	—
Operating Cash Flow (USD)	$136.54M	$513.69M	$696.78M	$744.82M	$352.03M	$216.33M	$16.13M	$-28.44M	$-32.95M	$-21.16M	$24.22M	$-872.00K	$-44.65M	$-367.00K	$-17.85M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 2 days ago 16 years · 60 quarters

Enphase Energy, Inc.

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