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DC Infra·ENPH
Enphase Energy, Inc.
NASDAQ · US
Solar microinverter, battery storage, and energy management technology supplier for distributed power systems.
AI relevance
Distributed solar, storage, and grid-edge power electronics exposure as data center load growth increases pressure on grid capacity.
Price
$25.86
Change
+0.87 (+3.48%)
Market cap
$3.4B
52w range
$24–$74
Exchange
NASDAQ
Country
US
Jason's Chips
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Price chart
ENPH market performance
Daily close for Enphase Energy, Inc.
- Latest close
- $25.86
- Range move
- -$5.28 (-17.0%)
- Range high
- $72.33
- Range low
- $24.99
- Latest volume
- 10.1M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
12 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
12 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
12 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
12 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
12 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1254 rowsFive years of daily close and volume data powering the company chart.
Transcript list
56 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetHold
Analyst expectations
Rating consensus56 ratings
Strong buy
0
Buy
22
Hold
29
Sell
5
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-12-31 | $1.13B | $1.09B - $1.18B | $1.71 | $1.47 - $1.88 | $272.6M | $248.8M | $213.8M | $216.7M | 14 rev / 12 EPS |
| 2027-12-31 | $1.03B | $949.0M - $1.22B | $1.44 | $1.20 - $1.74 | $242.8M | $217.2M | $185.8M | $198.8M | 19 rev / 15 EPS |
| 2028-12-31 | $1.20B | $934.3M - $1.54B | $1.91 | $-0.66 - $5.90 | $311.2M | $283.1M | $244.2M | $230.8M | 20 rev / 11 EPS |
| 2029-12-31 | $1.31B | $1.18B - $1.52B | $2.53 | $2.21 - $3.08 | $423.9M | $393.1M | $341.6M | $251.4M | 10 rev / 4 EPS |
| 2030-12-31 | $1.40B | $1.26B - $1.63B | $2.52 | $2.20 - $3.07 | $424.7M | $391.1M | $339.9M | $269.1M | 10 rev / 4 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-12-30 | $251.9M | $229.7M - $270.7M | $0.32 | $0.22 - $0.40 | $68.3M | $48.8M | $43.2M | $48.5M | 10 rev / 10 EPS |
| 2027-03-30 | $198.7M | $182.2M - $223.3M | $0.17 | $0.15 - $0.21 | $45.4M | $26.6M | $23.6M | $38.2M | 9 rev / 10 EPS |
| 2027-06-30 | $240.0M | $216.6M - $268.6M | $0.28 | $0.25 - $0.32 | $61.2M | $42.9M | $38.0M | $46.2M | 4 rev / 8 EPS |
| 2027-09-30 | $262.2M | $236.6M - $293.4M | $0.35 | $0.30 - $0.40 | $70.7M | $52.9M | $46.8M | $50.5M | 4 rev / 8 EPS |
| 2027-12-30 | $268.9M | $242.7M - $300.9M | $0.38 | $0.33 - $0.44 | $75.6M | $58.3M | $51.6M | $51.7M | 7 rev / 8 EPS |
| 2028-03-30 | $235.2M | $212.3M - $263.2M | $0.30 | $0.26 - $0.35 | $62.5M | $45.7M | $40.5M | $45.3M | 7 rev / 9 EPS |
| 2028-06-30 | $287.6M | $259.6M - $321.8M | $0.40 | $0.35 - $0.46 | $76.8M | $60.4M | $53.5M | $55.3M | 3 rev / 9 EPS |
| 2028-09-30 | $304.8M | $275.1M - $341.0M | $0.44 | $0.39 - $0.51 | $83.7M | $67.6M | $59.9M | $58.6M | 4 rev / 9 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 15 | $33.17 |
| Last quarter | 19 | $35.08 |
| Last year | 57 | $41.31 |
| All time | 143 | $112.99 |
Sources: StreetInsider, Benzinga, Pulse 2.0
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-10-29 | Barclays | Maintain | Equal Weight | Equal Weight |
| 2026-10-28 | Oppenheimer | Downgrade | Outperform | Perform |
| 2026-10-28 | GLJ Research | Maintain | Sell | Sell |
| 2026-10-28 | Morgan Stanley | Maintain | Underweight | Underweight |
| 2026-10-28 | Bernstein | Maintain | Market Perform | Market Perform |
| 2026-10-28 | JP Morgan | Maintain | Neutral | Neutral |
| 2026-10-28 | BMO Capital | Maintain | Market Perform | Market Perform |
| 2026-10-28 | Goldman Sachs | Maintain | Buy | Buy |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-10-01 | 3 | 10 | 16 | 1 | 1 |
| 2026-09-01 | 3 | 10 | 16 | 1 | 1 |
| 2026-08-01 | 3 | 8 | 18 | 1 | 1 |
| 2026-07-01 | 3 | 8 | 18 | 1 | 2 |
| 2026-06-01 | 3 | 8 | 17 | 3 | 3 |
| 2026-05-01 | 3 | 8 | 16 | 3 | 3 |
| 2026-04-01 | 4 | 8 | 17 | 2 | 3 |
| 2026-03-01 | 3 | 9 | 17 | 2 | 3 |
FinancialsFY 2025
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2025 | $1.47B | $687.0M | 46.6% | $189.1M | $164.7M | $230.2M | $172.1M | $1.31 |
| FY 2024 | $1.33B | $629.1M | 47.3% | $201.3M | $77.3M | $210.5M | $102.7M | $0.76 |
| FY 2023 | $2.29B | $1.06B | 46.2% | $227.3M | $445.7M | $596.7M | $438.9M | $3.22 |
| FY 2022 | $2.33B | $974.6M | 41.8% | $168.8M | $448.3M | $520.3M | $397.4M | $2.94 |
| FY 2021 | $1.38B | $554.4M | 40.1% | $105.5M | $215.8M | $196.9M | $145.4M | $1.09 |
| FY 2020 | $774.4M | $346.0M | 44.7% | $55.9M | $186.4M | $158.5M | $134.0M | $1.07 |
| FY 2019 | $624.3M | $221.2M | 35.4% | $40.4M | $102.7M | $113.9M | $161.1M | $1.38 |
| FY 2018 | $316.2M | $94.4M | 29.9% | $32.6M | $1.6M | $10.1M | -$11.6M | $-0.12 |
| FY 2017 | $286.2M | $56.0M | 19.6% | $33.2M | -$39.4M | -$28.1M | -$45.2M | $-0.54 |
| FY 2016 | $322.6M | $58.0M | 18.0% | $50.7M | -$62.7M | -$52.6M | -$67.5M | $-1.34 |
| FY 2015 | $357.2M | $108.2M | 30.3% | $50.8M | -$19.3M | -$9.7M | -$22.1M | $-0.49 |
| FY 2014 | $343.9M | $113.0M | 32.9% | $45.4M | -$4.4M | $2.8M | -$8.1M | $-0.19 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2025 | $136.5M | $40.6M | $95.9M |
| FY 2024 | $513.7M | $33.6M | $480.1M |
| FY 2023 | $696.8M | $110.4M | $586.4M |
| FY 2022 | $744.8M | $46.4M | $698.4M |
| FY 2021 | $352.0M | $52.3M | $299.5M |
| FY 2020 | $216.3M | $20.6M | $195.8M |
| FY 2019 | $139.1M | $14.8M | $124.3M |
| FY 2018 | $16.1M | $4.2M | $12.0M |
| FY 2017 | -$28.4M | $4.1M | -$32.6M |
| FY 2016 | -$33.0M | $12.8M | -$45.8M |
| FY 2015 | -$21.2M | $12.8M | -$33.9M |
| FY 2014 | $24.2M | $14.0M | $10.2M |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $1.51B | $265.9M | $288.0M | $136.8M | $3.51B | $1.24B | $769.5M | $2.42B | $1.09B |
| FY 2024 | $1.62B | $223.7M | $165.0M | $172.1M | $3.25B | $1.33B | $962.1M | $2.42B | $833.0M |
| FY 2023 | $1.70B | $446.0M | $213.6M | $188.1M | $3.38B | $1.32B | $1.03B | $2.40B | $983.6M |
| FY 2022 | $1.61B | $440.9M | $149.7M | $132.7M | $3.08B | $1.31B | $841.6M | $2.26B | $825.6M |
| FY 2021 | $1.02B | $357.1M | $74.4M | $96.6M | $2.08B | $1.05B | $934.1M | $1.65B | $430.2M |
| FY 2020 | $679.4M | $200.0M | $41.8M | $60.7M | $1.20B | $350.6M | -$328.8M | $716.1M | $484.0M |
| FY 2019 | $251.4M | $145.4M | $32.1M | $39.1M | $713.2M | $108.7M | -$142.7M | $441.0M | $272.2M |
| FY 2018 | $106.2M | $78.9M | $16.3M | $21.0M | $339.9M | $109.8M | $3.5M | $332.2M | $7.8M |
| FY 2017 | $29.1M | $65.3M | $26.0M | $26.5M | $169.1M | $49.8M | $20.6M | $178.3M | -$9.1M |
| FY 2016 | $17.8M | $61.0M | $32.0M | $31.4M | $163.6M | $33.9M | $16.1M | $162.3M | $1.3M |
| FY 2015 | $28.5M | $46.1M | $40.8M | $32.1M | $165.5M | $17.0M | -$11.5M | $124.1M | $41.4M |
| FY 2014 | $42.0M | $45.1M | $21.6M | $30.8M | $152.2M | $0 | -$42.0M | $105.2M | $47.0M |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | 46.6% | 11.2% | 11.7% | 2.1x | 1.8x | 15.8% | 4.8% | 3.4x | 21.6x | 2.3% | 12.8% | 105d |
| FY 2024 | 47.3% | 5.8% | 7.7% | 3.5x | 3.3x | 12.3% | 2.4% | 7.7x | 48.7x | 5.2% | 15.1% | 100d |
| FY 2023 | 46.2% | 19.5% | 19.2% | 4.6x | 4.2x | 44.6% | 13.4% | 8.3x | 31.9x | 3.3% | 9.9% | 100d |
| FY 2022 | 41.8% | 19.2% | 17.0% | 3.5x | 3.3x | 48.1% | 15.5% | 15.7x | 70.5x | 1.9% | 7.2% | 76d |
| FY 2021 | 40.1% | 15.6% | 10.5% | 3.3x | 3.2x | 33.8% | 12.5% | 18.4x | 129.2x | 1.2% | 7.6% | 77d |
| FY 2020 | 44.7% | 24.1% | 17.3% | 1.7x | 1.7x | 27.7% | 18.7% | 28.0x | 136.9x | 0.9% | 7.2% | 68d |
| FY 2019 | 35.4% | 16.5% | 25.8% | 2.5x | 2.3x | 59.2% | 19.8% | 4.7x | 25.5x | 4.1% | 6.5% | 62d |
| FY 2018 | 29.9% | 0.5% | -3.7% | 1.5x | 1.4x | -149.5% | 0.7% | 1.5x | 45.6x | 2.6% | 10.3% | 38d |
| FY 2017 | 19.6% | -13.8% | -15.8% | 1.4x | 1.1x | 495.2% | -41.4% | 0.8x | -7.8x | -16.3% | 11.6% | 79d |
| FY 2016 | 18.0% | -19.4% | -20.9% | 1.4x | 1.0x | -5189.4% | -66.7% | 0.2x | -1.3x | -89.8% | 15.7% | 69d |
| FY 2015 | 30.3% | -5.4% | -6.2% | 1.7x | 1.1x | -53.3% | -17.6% | 0.4x | -15.0x | -21.7% | 14.2% | 69d |
| FY 2014 | 32.9% | -1.3% | -2.3% | 2.0x | 1.6x | -17.1% | -4.7% | 1.7x | 201.4x | 1.7% | 13.2% | 47d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | +10.7% | +9.2% | -6.1% | +113.0% | +67.7% | +72.4% | -80.0% | -20.9% | -6.8% | +74.6% | +8.0% | -6.6% |
| FY 2024 | -41.9% | -40.6% | -11.4% | -82.7% | -76.6% | -76.4% | -18.1% | +69.6% | -4.3% | -22.7% | -3.9% | +1.0% |
| FY 2023 | -1.7% | +8.6% | +34.6% | -0.6% | +10.5% | +9.5% | -16.0% | -137.7% | +5.1% | +42.7% | +9.7% | +0.2% |
| FY 2022 | +68.7% | +75.8% | +60.0% | +107.7% | +173.2% | +169.7% | +133.2% | +11.6% | +58.6% | +101.2% | +48.3% | +24.8% |
| FY 2021 | +78.5% | +60.2% | +88.7% | +15.8% | +8.5% | +1.9% | +53.0% | -155.4% | +49.6% | +78.1% | +73.3% | +200.4% |
| FY 2020 | +24.0% | +56.4% | +38.5% | +81.5% | -16.8% | -22.5% | +57.5% | -39.0% | +170.2% | +30.3% | +68.3% | +222.5% |
| FY 2019 | +97.5% | +134.3% | +23.9% | +6336.7% | +1486.0% | +1250.0% | +937.3% | -256.3% | +136.6% | +97.1% | +109.8% | -1.0% |
| FY 2018 | +10.5% | +68.5% | -1.7% | +104.1% | +74.3% | +77.8% | +136.8% | -0.7% | +264.5% | -37.4% | +101.0% | +120.7% |
| FY 2017 | -11.3% | -3.4% | -34.6% | +37.2% | +33.0% | +59.7% | +28.9% | +67.9% | +64.1% | -18.7% | +3.4% | +46.8% |
| FY 2016 | -9.7% | -46.4% | -0.2% | -224.7% | -205.5% | -173.5% | -35.0% | -0.7% | -37.6% | -21.7% | -1.2% | +99.4% |
| FY 2015 | +3.9% | -4.3% | +12.0% | -336.0% | -174.2% | -157.9% | -431.8% | +8.8% | -32.3% | +89.0% | +8.8% | 0.0% |
| FY 2014 | +47.7% | +67.7% | +31.5% | +80.0% | +68.9% | +69.4% | +243.4% | -123.7% | +10.1% | +30.2% | +30.4% | -100.0% |
SegmentsFY 2025
Revenue Mix
Latest product mixFY 2025 · $1.47B
Reportable Segment$1.47B · 100.0%
Latest geography mixFY 2025 · $1.47B
UNITED STATES$1.19B · 80.7%
International$284.3M · 19.3%
Product revenue annual
| Period | Total | Reportable Segment | Envoy Communications Gateway |
|---|---|---|---|
| FY 2025 | $1.47B | $1.47B | -- |
| FY 2024 | $1.33B | $1.33B | -- |
| FY 2019 | $5.4M | -- | $5.4M |
Geography revenue annual
| Period | Total | UNITED STATES | International | Nethelands |
|---|---|---|---|---|
| FY 2025 | $1.47B | $1.19B | $284.3M | -- |
| FY 2024 | $1.33B | $934.7M | $395.7M | -- |
| FY 2023 | $2.29B | $1.47B | $470.1M | $351.6M |
| FY 2022 | $2.33B | $1.76B | $569.0M | -- |
| FY 2021 | $1.38B | $1.11B | $273.2M | -- |
| FY 2020 | $774.4M | $637.9M | $136.5M | -- |
| FY 2019 | $624.3M | $523.6M | $100.8M | -- |
| FY 2018 | $316.2M | $219.6M | $96.6M | -- |
| FY 2017 | $286.2M | $199.6M | $86.6M | -- |
| FY 2016 | $322.6M | $259.1M | $63.5M | -- |
| FY 2015 | $357.2M | $303.2M | $54.1M | -- |
| FY 2014 | $343.9M | $294.5M | $49.4M | -- |
Transcripts56 on file
Transcripts
Events
Events
Next earnings
2027-02-02EPS est $0.32
Latest news
- Enphase Energy: Solar Demand Destruction And Nascent AI Opportunities - Discounted For A Reason
Seeking Alpha · 2026-10-29
- Enphase Energy Q3 Earnings Lag Estimates, Revenues Decline Y/Y
Zacks Investment Research · 2026-10-28