Enphase Energy, Inc.
ENPH Nasdaq· Semiconductors & Related Devices
Last close · Oct 26, 2026
$30.36
KIRA · Stoqly’s AI analyst, in plain words
- Enphase Energy, Inc. had $1.5B of revenue in fiscal 2025, up 10.7% on the year before. Over five years, revenue changed +13.7% a year on average.
- Its operating margin was 10.7%, up 4.9 pts: of every 100 in sales, about 11 is left after running the business.
- Enphase Energy, Inc. made $172M of net profit in fiscal 2025.
- Free cash flow was $95.9M in fiscal 2025, 6.5% of revenue.
- Enphase Energy, Inc. returned $130M to shareholders in fiscal 2025, 136% of free cash flow. The diluted share count fell 3.7%.
- Enphase Energy, Inc. has $308M more cash than debt.
Market cap
$4.0B
P/E
30.1x
Revenue
$1.5B
Net income
$172M
Free cash flow
$95.9M
Operating margin
10.7%
Enphase Energy, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+10.7%
Yes. Sales grew 10.7% last year.
Does it make a profit?
11.7%
Yes. It keeps 11.7% of every sale as profit.
Does profit turn into cash?
6.5%
Partly. 6.5% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
30.1x
One share costs 30.1 times its yearly profit per share.
What Enphase Energy, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Legal name
- Enphase Energy, Inc.
- CIK
- 0001463101
Enphase Energy, Inc. · ENPH
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.4B | $2.3B | $2.3B | $1.3B | $1.5B |
| Revenue growth | 78.5% | 68.7% | −1.7% | −41.9% | 10.7% |
| Gross margin | 40.1% | 41.8% | 46.2% | 47.3% | 46.6% |
| Operating margin | 15.6% | 19.2% | 19.5% | 5.8% | 10.7% |
| Net income | $145M | $397M | $439M | $103M | $172M |
| Net margin | 10.5% | 17.0% | 19.2% | 7.7% | 11.7% |
| Diluted EPS | — | $2.77 | $3.08 | $0.75 | $1.29 |
| Cash | |||||
| Cash from operations | $352M | $745M | $697M | $514M | $137M |
| Capital expenditure | $52.3M | $46.4M | $110M | $33.6M | $40.6M |
| Free cash flow | $300M | $698M | $586M | $480M | $95.9M |
| FCF margin | 21.7% | 30.0% | 25.6% | 36.1% | 6.5% |
| Share buybacks | $500M | $0.0M | $410M | $391M | $130M |
| Share count change | 0.7% | 1.1% | −0.8% | −2.3% | −3.7% |
| Debt and strength | |||||
| Cash and short-term investments | $1.0B | $1.6B | $1.7B | $1.6B | $1.5B |
| Debt incl. finance leases | $1.0B | $1.3B | $1.3B | $1.3B | $1.2B |
| Shareholders' equity | $430M | $826M | $984M | $833M | $1.1B |
| Net debt / EBITDA | 0.1x | −0.6x | −0.8x | −2.0x | −1.3x |
| Current ratio | 3.3x | 3.5x | 4.6x | 3.5x | 2.1x |
| Interest coverage | 4.8x | 47.5x | 50.4x | 8.7x | 34.8x |
| Returns and quality | |||||
| Return on capital | 47.8% | 78.3% | 65.5% | 12.9% | 17.0% |
| Return on equity | 31.8% | 63.3% | 48.5% | 11.3% | 17.9% |
| Return on tangible equity | 96.2% | 77.5% | 62.7% | 17.7% | 20.3% |
| Piotroski F-score | 5 | 8 | 8 | 5 | 6 |
| Altman Z'' | 3.6 | 4.8 | 5.1 | 3.6 | 3.1 |
Insiders bought, 12 months
$1.1M
2 insiders
Insiders sold, 12 months
$10.8M
3 insiders
Of sales under plans
2%
$0.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Enphase Energy, Inc. · ENPH
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $30.36 a share, the company is worth $4.0B: 30.1 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001463101). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.