ENPH

Enphase Energy, Inc.

Fundamental data last updated:May 13, 2026

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company profile

SECTOR

Energy

industry

Solar

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

07/28/2026

Business Summary

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 services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. 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.

 


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VALUATION

P/E

35.53

Market Cap ($M USD)

$4.81B

Forward P/E

11.59

PEG

0.06

PRICE TO SALES

3.44

PRICE TO BOOK

4.35

EV / EBITDA

23.70

5-Year Average P/E

Free Cash Flow Yield

3.01%

DCF Value

$32.48

Graham Number

$13.93

Price to FCF

33.18

EV to FCF

33.76

Earnings Yield

2.81%

FCF Yield

3.01%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.00%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$1.03

Next Year EPS Growth Estimate

$3.15

Next Year Revenue Growth Estimate

$147.60B

Return on Equity (ROE)

13.28%

FREE CASH FLOW

Operating Margin

6.81%

Debt-to-Equity

1.14

Piotroski F-Score

6

Altman Z-Score

2.96

Return on Invested Capital (ROIC)

4.25%

Current Ratio

3.80

Quick Ratio

3.20

Net Debt to EBITDA

0.40

Interest Coverage

30.68

Gross Profit margin

44.23%

FCF PER SHARE

$1.10

REVENUE PER SHARE

$10.66

Analyze ENPH on TradingView

Gainseekers Quantitative Analysis

Summary

Enphase Energy’s valuation presents a mixed bag. The stock has traded above its DCF value, suggesting potential overvaluation, yet its Forward P/E indicates a more attractive future earnings scenario. The Earnings Yield is modest, hinting at limited immediate returns, but the Altman Z-score of 2.96 suggests reasonable financial stability. Despite a high Price/Book ratio, the market seems to expect robust growth, supported by a PEG ratio well below 1.0, indicating undervaluation relative to growth expectations. Overall, the financial health is solid, but the market’s optimism might be a double-edged sword.

AI Exposure / Tech Reliance

Operating in the solar industry, Enphase Energy is well-positioned to leverage AI and modern tech advancements. As the energy sector increasingly integrates smart technologies, Enphase's focus on solar solutions aligns with these trends. Their adaptability in tech-driven environments could enhance efficiency and innovation.

The Bull Case

For the value-driven investor, Enphase Energy offers compelling reasons to buy. The company's ROIC of 4.25% and a Piotroski F-Score of 6 reflect decent capital efficiency and operational health. With a solid FCF Yield, Enphase demonstrates the ability to generate cash, while its operating margin of 6.81% suggests effective cost management. These metrics indicate a company with pricing power and the potential for sustainable growth.

The Bear Case

Despite some strengths, Enphase Energy faces significant challenges. The Price/Sales and Price/Book ratios are elevated, raising concerns about overvaluation. The EV to EBITDA multiple is high, suggesting the market may be pricing in growth that could be hard to achieve. Additionally, the stock's proximity to its 52-week high could indicate technical overextension, making it vulnerable to corrections.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$42.41

Institutional Ownership %

1-Year Beta

1.25

Insider Buying % (6 Mo)

Distance to 52-Week High

44.93%

Distance to 52-Week Low

29.41%

EARNINGS SURPRISE %

9.30%

50-DAY SMA

$37.50

200-DAY SMA

$36.22

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.