logo
Twitter
Discord
Email
logo
Enphase Energy, Inc.

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
$3.75B
P/E (TTM)
19.2
17.3
Dividend Yield
--
52W High
$78.26
52W Low
$28.14
52W Range
1%
3.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$410.43M+7.76%
4-Quarter Trend

EPS

$0.51+50.00%
4-Quarter Trend

FCF

$5.89M-96.36%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Growth Net revenues reached $1.130 B, up 19% for nine months, driven by 7% microinverter unit increase.
Net Income Soars Net income totaled $133.4 M for nine months, reflecting a substantial 228% increase year-over-year.
Gross Margin Expansion Gross margin improved 1.9 points to 47.4% for nine months, aided by IRA net benefit recognition.
Strong Cash Position Cash, equivalents, and securities totaled $1.478 B as of September 30, 2025, supporting liquidity needs.

Risk Factors

International Revenue Decline International revenues fell 38% quarterly due to European demand softening and slower economic growth.
Warranty Expense Reversal Warranty obligations recorded $13.9 M expense from estimate changes, reversing prior period benefit recognition.
Regulatory Uncertainty Impact OBBB legislation enacted July 2025 may negatively impact tax credit eligibility and future demand for products.
LFP Supply Chain Risk Critical LFP battery cells remain exclusively sourced from two Chinese vendors, posing significant supply chain risk.

Outlook

New Product Shipments Begin Began pre-orders for IQ9N-3P Commercial Microinverter; shipping IQ8P-3P for small commercial market.
EV Charging Expansion Launched IQ EV Charger 2 in new markets; announced new IQ Bidirectional EV Charger architecture.
Debt Settlement Complete Total debt decreased $96.6 M, primarily due to settlement of Notes due 2025 at maturity in March 2025.
Restructuring Completion Planned Plans to complete 2024 Restructuring Plan activities in the fourth quarter of 2025 for efficiency gains.

Peer Comparison

Revenue (TTM)

NOV Inc.NOV
$8.77B
-1.5%
Chord Energy CorporationCHRD
$5.16B
+8.4%
Weatherford International plcWFRD
$4.97B
-10.2%

Gross Margin (Latest Quarter)

Archrock, Inc.AROC
66.1%
+21.7 pp
Enphase Energy, Inc.ENPH
47.8%
+1.0 pp
Valvoline Inc.VVV
40.5%
+0.7 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NOV$5.73B15.25.9%20.8%
FRO$5.67B23.810.1%58.7%
CNX$5.33B18.07.3%31.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+2.4%
Moderate Growth
4Q Net Income CAGR
+2.3%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 28, 2025|
    Revenue: $410.43M+7.8%
    |
    EPS: $0.51+50.0%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 22, 2025|
    Revenue: $363.15M+19.7%
    |
    EPS: $0.28+250.0%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 22, 2025|
    Revenue: $356.08M+35.2%
    |
    EPS: $0.23-291.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 10, 2025|
    Revenue: $1.33B-41.9%
    |
    EPS: $0.76-76.5%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 22, 2024|
    Revenue: $380.87M-30.9%
    |
    EPS: $0.34-59.5%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 23, 2024|
    Revenue: $303.46M-57.3%
    |
    EPS: $0.08-93.0%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 23, 2024|
    Revenue: $263.34M-63.7%
    |
    EPS: $-0.12-111.0%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 9, 2024|
    Revenue: $2.29B-1.7%
    |
    EPS: $3.24+10.2%
    Miss