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Enphase Energy, Inc. logo

Enphase Energy, Inc.

ENPH

NASDAQEnergySolar

Open in GoAI

Previous close

$38.61

+$0.25 · +0.65%

Aug 21, 4:00 PM ET

Pre-market

$38.1701

−$0.4399 · -1.14%

Aug 24, 7:43 AM ET

ENPH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

71

Undervalued

Momentum

43

Neutral

Sentiment

71

Bullish

Risk resilience

37

High Risk

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Company profile

Company website

Enphase Energy, Inc., along with its subsidiaries, is dedicated to developing, manufacturing, and distributing home energy solutions for the global solar photovoltaic industry. Their core offering is a semiconductor-based microinverter, designed to convert energy at the individual solar module level. This technology seamlessly integrates with their proprietary networking and software, providing advanced energy monitoring and control capabilities. The company's product portfolio also includes AC battery storage systems, the Envoy communications gateway, the cloud-based Enlighten monitoring service, and various related accessories. Enphase sells its offerings through multiple channels, reaching solar distributors, large installers directly, original equipment manufacturers (OEMs), strategic partners, and individual homeowners, as well as through its legacy product upgrade program and online store. Established in 2006, Enphase Energy, Inc. is headquartered in Fremont, California.

Industry
Solar
Sector
Energy
Headquarters
US
CEO
Badrinarayanan Kothandaraman
Listed since
Mar 30, 2012
Employees
2,872

Market position

Day range

Current $38.61

52-week range

Current $38.61

Open
$38.82
Previous close
$38.36
Volume
3.89M
0.57× average
Average volume
6.86M
Average daily volume
Market cap
5.1B USD
Beta
1.65
Market reference 1
50-day average
$43.1064
-10.43% below average
200-day average
$40.4035
-4.44% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
4.97B USD
EV / EBITDA
17.15×
Earnings yield
4.09%
Free cash flow yield
2.28%

Profitability & efficiency

Return on equity
15.84%
Return on assets
4.90%
Return on invested capital
4.79%

Financial health

Current ratio
2.07×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends51%35%18%2%Gross margin, FY2021: 40.12%Gross margin, FY2022: 41.81%Gross margin, FY2023: 46.20%Gross margin, FY2024: 47.29%Gross margin, FY2025: 46.64%Operating margin, FY2021: 15.62%Operating margin, FY2022: 19.23%Operating margin, FY2023: 19.46%Operating margin, FY2024: 5.81%Operating margin, FY2025: 11.18%Net margin, FY2021: 10.52%Net margin, FY2022: 17.05%Net margin, FY2023: 19.16%Net margin, FY2024: 7.72%Net margin, FY2025: 11.69%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 40.12%. Gross margin FY2022 41.81%. Gross margin FY2023 46.20%. Gross margin FY2024 47.29%. Gross margin FY2025 46.64%. Operating margin FY2021 15.62%. Operating margin FY2022 19.23%. Operating margin FY2023 19.46%. Operating margin FY2024 5.81%. Operating margin FY2025 11.18%. Net margin FY2021 10.52%. Net margin FY2022 17.05%. Net margin FY2023 19.16%. Net margin FY2024 7.72%. Net margin FY2025 11.69%.

Income trends

Revenue

1.47B USD+10.72%

Operating income

164.66M USD+113.03%

Net income

172.13M USD+67.68%
Income trends across reported periods2.56B USD1.65B USD753.36M USD−148.06M USDRevenue, FY2021: 1.38B USDRevenue, FY2022: 2.33B USDRevenue, FY2023: 2.29B USDRevenue, FY2024: 1.33B USDRevenue, FY2025: 1.47B USDOperating income, FY2021: 215.83M USDOperating income, FY2022: 448.26M USDOperating income, FY2023: 445.74M USDOperating income, FY2024: 77.29M USDOperating income, FY2025: 164.66M USDNet income, FY2021: 145.45M USDNet income, FY2022: 397.36M USDNet income, FY2023: 438.94M USDNet income, FY2024: 102.66M USDNet income, FY2025: 172.13M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.38B USD. Revenue FY2022 2.33B USD. Revenue FY2023 2.29B USD. Revenue FY2024 1.33B USD. Revenue FY2025 1.47B USD. Operating income FY2021 215.83M USD. Operating income FY2022 448.26M USD. Operating income FY2023 445.74M USD. Operating income FY2024 77.29M USD. Operating income FY2025 164.66M USD. Net income FY2021 145.45M USD. Net income FY2022 397.36M USD. Net income FY2023 438.94M USD. Net income FY2024 102.66M USD. Net income FY2025 172.13M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.47B USD1.33B USD2.29B USD2.33B USD1.38B USD
Cost of goods sold785.98M USD701.25M USD1.23B USD1.36B USD827.63M USD
Gross profit687M USD629.14M USD1.06B USD974.6M USD554.42M USD
Research and development189.08M USD201.32M USD227.34M USD168.85M USD105.53M USD
Selling, general, and administrative333.27M USD337.38M USD369.63M USD355.1M USD233.06M USD
Operating expenses522.35M USD551.85M USD612.65M USD526.33M USD338.59M USD
Interest income62.72M USD77.31M USD69.73M USD13.66M USD695K USD
Interest expense4.52M USD8.91M USD8.84M USD9.44M USD45.15M USD
Depreciation and amortization80.65M USD81.39M USD74.71M USD58.78M USD30.85M USD
Operating income164.66M USD77.29M USD445.74M USD448.26M USD215.83M USD
Net income172.13M USD102.66M USD438.94M USD397.36M USD145.45M USD

Company facts updated Aug 24, 2026.

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ETFs holding ENPH

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
309.97M
Weight
0.27%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
149.65M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
108.08M
Weight
0.06%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
iShares Global Clean Energy ETF logoiShares Global Clean Energy ETFICLN
Market value
103.84M
Weight
4.69%
AUM
2.21B USD
Expense ratio
0.39%
Price / 1D
$17.59-0.23%
Vanguard Information Technology ETF logoVanguard Information Technology ETFVGT
Market value
94.11M
Weight
0.06%
AUM
160.2B USD
Expense ratio
0.09%
Price / 1D
$118.42+0.05%
Invesco Solar ETF logoInvesco Solar ETFTAN
Market value
85.11M
Weight
6.59%
AUM
1.28B USD
Expense ratio
0.70%
Price / 1D
$49.32-0.82%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
68.63M
Weight
0.10%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund logoFirst Trust NASDAQ Clean Edge Smart Grid Infrastructure Index FundGRID
Market value
57.1M
Weight
0.48%
AUM
11.85B USD
Expense ratio
0.56%
Price / 1D
$180.93-0.13%

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