Enphase Energy, Inc. financials

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ENPH CIK 0001463101

Source: EDGAR filings · Built 2026-06-02T02:54:36Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 95.90M 480.09M 586.38M 698.37M 299.77M 195.78M
EBITDA 238.17M 158.68M 520.45M 507.04M 246.68M 204.54M
Working Capital 1.34B 1.67B 1.91B 1.63B 1.02B 399.02M
Net Debt 769.47M 962.13M 1.03B 841.56M 934.08M -328.76M
Gross Margin 46.64% 47.29% 46.20% 41.81% 40.12% 44.68%
Operating Margin 10.69% 5.81% 19.46% 19.23% 15.62% 24.07%
Net Margin 11.69% 7.72% 19.16% 17.05% 10.52% 17.30%
Return on Equity (ROE) 15.84% 12.32% 44.62% 48.13% 33.81% 27.69%
Return on Assets (ROA) 4.90% 3.16% 12.97% 12.88% 7.00% 11.17%
Current Ratio 2.07× 3.53× 4.59× 3.55× 3.33× 1.75×
Debt-to-Equity 1.14× 1.60× 1.34× 1.59× 2.45× 0.72×
Effective Tax Rate 15.96% 14.56% 14.46% 12.10% -20.28% -12.21%
Cash Conversion Ratio 0.79× 5.00× 1.59× 1.87× 2.42× 1.61×
Accruals Ratio 0.01× -0.13× -0.08× -0.11× -0.10× -0.07×
SBC % of Revenue 14.53% 15.89% 9.29% 9.30% 8.27% 5.49%
CapEx Coverage 3.36× 15.29× 6.31× 16.04× 6.74× 10.52×
Free Cash Flow Per Share $0.71 $3.43 $4.09 $4.84 $2.10 $1.38

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 24.84× 91.57× 42.90× 95.65× — —
P/FCF 45.08× 20.03× 32.29× 54.78× 87.19× 127.20×
FCF Yield 2.22% 4.99% 3.10% 1.83% 1.15% 0.79%
EV / EBITDA 20.87× 63.39× 36.44× 72.96× 103.08× 109.03×
P/S 2.85× 6.84× 7.83× 15.51× 17.72× 29.22×
P/B 3.86× 10.92× 18.23× 43.79× 56.94× 46.75×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 1.47B 1.33B 2.29B 2.33B 1.38B 774.42M
Cost of Revenue 785.98M 701.25M 1.23B 1.36B 827.63M 428.44M
Gross Profit 687.00M 629.14M 1.06B 974.60M 554.42M 345.98M
Research and Development Expense 189.07M 201.31M 227.34M 168.85M 105.53M 55.92M
Operating Expenses 529.48M 551.85M 612.65M 526.33M 338.59M 159.54M
Operating Income (Loss) 157.53M 77.29M 445.74M 448.26M 215.83M 186.44M
Income Tax Expense (Benefit) 32.68M 17.50M 74.20M 54.69M -24.52M -14.59M
Net Income (Loss) Attributable to Parent 172.13M 102.66M 438.94M 397.36M 145.45M 134.00M
Earnings Per Share, Basic $1.31 $0.76 $3.22 $2.94 — —
Weighted Average Number of Shares Outstanding, Basic 131.16M 135.17M 136.38M 135.35M 134.03M 125.56M
Earnings Per Share, Diluted $1.29 $0.75 $3.08 $2.77 — —
Weighted Average Number of Shares Outstanding, Diluted 134.89M 140.00M 143.29M 144.39M 142.88M 141.92M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 474.32M 369.11M 288.75M 473.24M 119.32M 679.38M
Assets, Current 2.61B 2.33B 2.44B 2.26B 1.46B 933.06M
Assets 3.51B 3.25B 3.38B 3.08B 2.08B 1.20B
Long-term Debt 1.20B 1.30B 1.29B 1.29B 1.04B 330.87M
Liabilities, Current 1.26B 660.09M 532.45M 638.22M 439.80M 534.04M
Long-term Debt, Excluding Current Maturities 572.19M 1.20B 1.29B 1.20B 951.59M 4.90M
Liabilities 2.42B 2.42B 2.40B 2.26B 1.65B 716.11M
Stockholders' Equity Attributable to Parent 1.09B 833.02M 983.62M 825.57M 430.17M 483.99M
Common Stock, Shares, Outstanding 131.08M 132.45M 135.72M 136.44M 133.89M 128.96M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 136.54M 513.69M 696.78M 744.82M 352.03M 216.33M
Payments to Acquire Property, Plant, and Equipment 40.64M 33.60M 110.40M 46.44M 52.26M 20.56M
Net Cash Provided by (Used in) Investing Activities 106.79M 128.27M -366.36M -371.91M -1.22B -25.57M
Payments for Repurchase of Common Stock 129.96M 391.36M 410.00M 0 500.00M 0
Net Cash Provided by (Used in) Financing Activities -241.62M -460.27M -516.77M -17.13M 309.41M 191.68M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

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Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (ENPH CIK 0001463101), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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