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Enphase Energy, Inc.

NASDAQ•ENPH
CEO: Mr. Badrinarayanan Kothandaraman
Sector: Energy
Industry: Solar
Listing Date: 2012-03-30
Enphase 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. It also provides microinverter units and related accessories, an IQ gateway; IQ batteries; the cloud-based Enlighten monitoring service; storage solutions; and electric vehicle charging solutions, as well as design, proposal, permitting, and lead generation services. 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.
Contact Information
47281 Bayside Parkway, Fremont, CA, 94538, United States
707-774-7000
www.enphase.com
Market Cap
$5.78B
P/E (TTM)
33.6
15
Dividend Yield
--
52W High
$64.40
52W Low
$25.78
52W Range
47%
Rank47Top 61.9%
3.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$343.32M-10.29%
4-Quarter Trend

EPS

$0.30-34.78%
4-Quarter Trend

FCF

$37.84M-76.24%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Growth 11% Net revenues reached $1.473 B USD, increasing 11% driven by 36% growth in IQ Batteries MWh shipped.
Net Income Jumps 68% Net income totaled $172.1 M USD, a significant 68% increase over 2024 results, showing strong profitability recovery.
Gross Margin Slight Decline Gross margin decreased 0.7 points to 46.6% due to increased tariff costs, partially offset by AMPTC benefits.
US Market Expansion Strong US market revenues grew 27% to $1.189 B USD, driven by higher demand and safe harbor transactions.

Risk Factors

Regulatory Incentive Uncertainty Expiration of Section 25D ITC and OBBBA timing rules create uncertainty impacting product cost competitiveness.
Supply Chain Component Reliance Reliance on limited-source suppliers, especially for LFP battery cells sourced exclusively from China, poses supply risk.
Macroeconomic Demand Softening Continued macroeconomic weakness, inflation, and tariffs may reduce capital spending, adversely affecting solar demand.
Litigation Exposure Remains High Multiple pending securities class action and derivative lawsuits seek unspecified damages, burdening management.

Outlook

Strategy Focus: Customer Experience Objective centers on building best-in-class home energy systems, reinforcing customer experience with 24/7 support.
Product Innovation Continues Engineering focuses on increasing power conversion efficiency and reducing cost per watt for microinverters.
Expanding Global Market Share Intend to capitalize on microinverter leadership to expand market share in core markets and new regions.
New Commercial Product Launch Began shipping IQ9N-3P Commercial Microinverter in December 2025, designed for three-phase 480V grid configurations.

Peer Comparison

Revenue (TTM)

PBF stock ticker logoPBF
$29.33B
-11.4%
NOV stock ticker logoNOV
$8.74B
-1.4%
CVI stock ticker logoCVI
$7.16B
-5.9%

Gross Margin (Latest Quarter)

MUR stock ticker logoMUR
171.1%
+144.1pp
CNX stock ticker logoCNX
93.2%
+32.8pp
AROC stock ticker logoAROC
53.0%
+5.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CHRD$7.50B168.60.5%11.2%
NE$7.44B34.24.7%26.2%
FRO$7.16B18.915.9%53.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.2%
Flat Growth
4Q Net Income CAGR
9.2%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Apr 20, 2026
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EPS:-
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News
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LTM
No Data