(ENPH) Enphase Energy - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US29355A1079

Microinverter, Battery, Gateway, Monitoring

Semiconductor Materials & Equipment
Market Cap in USD: 4,449m

IPO / Inception: 2012-03-30
Return 12m vs S&P 500: -56.4%

EPS (Earnings per Share)

EPS CAGR: -46.38%
EPS Trend: -65.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: -0.15%
Rev. Trend: -51.0%

Last SUE: 4.00
Qual. Beats: 1

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	61.0%
Value at Risk 5%th	90.1%
Relative Tail Risk	-10.15%

Reward TTM
Sharpe Ratio	-0.67
Alpha	-72.65
CAGR/Max DD	-0.54

Character TTM
Hurst Exponent	0.411
Beta	1.083
Beta Downside	1.327

Drawdowns 3y
Max DD	89.60%
Mean DD	59.50%
Median DD	57.90%

Description: ENPH Enphase Energy January 08, 2026

Enphase Energy Inc. (NASDAQ: ENPH) designs, manufactures, and sells semiconductor-based microinverters and a suite of complementary hardware and software solutions-including IQ Battery storage, IQ Gateway, cloud-based Enlighten monitoring, and EV charging systems-to the residential solar photovoltaic market in the U.S. and abroad. Its business model spans distribution through solar wholesalers, direct sales to large installers and OEMs, and a legacy-product upgrade program that drives recurring revenue.

Key recent metrics: Q4 2023 revenue rose 23% YoY to $617 million, with a gross margin of 44% and an installed-base of ~13 GW of microinverters worldwide. The residential solar segment is benefitting from a 9% CAGR in U.S. rooftop installations (2021-2025 forecast) and from state-level net-metering policies that improve the economics of behind-the-meter storage-both of which underpin Enphase’s battery-plus-inverter growth trajectory.

For a deeper dive into ENPH’s valuation metrics, the ValueRay platform offers a transparent, data-driven view.

Piotroski VR‑10 (Strict, 0-10) 7.5

Net Income (195.6m TTM) > 0 and > 6% of Revenue (6% = 90.7m TTM)

FCFTA 0.07 (>2.0%) and ΔFCFTA -3.76pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 80.71% (prev 143.4%; Δ -62.73pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.08 (>3.0%) and CFO 256.3m > Net Income 195.6m (YES >=105%, WARN >=100%)

Net Debt (807.5m) to EBITDA (320.6m) ratio: 2.52 <= 3.0 (WARN <= 3.5)

Current Ratio 2.04 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (133.0m) change vs 12m ago -4.95% (target <= -2.0% for YES)

Gross Margin 48.48% (prev 46.19%; Δ 2.29pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 45.94% (prev 38.30%; Δ 7.63pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 40.67 (EBITDA TTM 320.6m / Interest Expense TTM 5.94m) >= 6 (WARN >= 3)

Altman Z'' 2.56

(A) 0.37 = (Total Current Assets 2.39b - Total Current Liabilities 1.17b) / Total Assets 3.32b

(B) -0.07 = Retained Earnings (Balance) -242.6m / Total Assets 3.32b

(D) -0.10 = Book Value of Equity -239.3m / Total Liabilities 2.33b

Total Rating: 2.56 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 56.92

1. Piotroski 7.50pt

2. FCF Yield 5.20%

3. FCF Margin 14.37%

4. Debt/Equity 1.22

5. Debt/Ebitda 2.52

6. ROIC - WACC (= 2.12)%

7. RoE 22.23%

8. Rev. Trend -51.03%

9. EPS Trend -65.28%

What is the price of ENPH shares?

As of January 11, 2026, the stock is trading at USD 35.22 with a total of 5,250,453 shares traded.
Over the past week, the price has changed by +4.36%, over one month by +11.63%, over three months by -4.06% and over the past year by -47.23%.

Is ENPH a buy, sell or hold?

Enphase Energy has received a consensus analysts rating of 3.45. Therefor, it is recommend to hold ENPH.

Strong Buy: 11
Buy: 5
Hold: 19
Sell: 1
Strong Sell: 4

What are the forecasts/targets for the ENPH price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	38.5	9.3%
Analysts Target Price	38.5	9.3%
ValueRay Target Price	21.5	-39%

ENPH Fundamental Data Overview January 07, 2026

P/E Trailing = 23.1293
P/E Forward = 17.5747
P/S = 2.9419
P/B = 4.4386
P/EG = 0.9502
Beta = 1.348
Revenue TTM = 1.51b USD
EBIT TTM = 241.8m USD
EBITDA TTM = 320.6m USD
Long Term Debt = 571.9m USD (from longTermDebt, last quarter)
Short Term Debt = 637.5m USD (from shortTermDebt, last quarter)
Debt = 1.21b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 807.5m USD (from netDebt column, last quarter)
Enterprise Value = 4.18b USD (4.45b + Debt 1.21b - CCE 1.48b)
Interest Coverage Ratio = 40.67 (Ebit TTM 241.8m / Interest Expense TTM 5.94m)
EV/FCF = 19.24x (Enterprise Value 4.18b / FCF TTM 217.3m)
FCF Yield = 5.20% (FCF TTM 217.3m / Enterprise Value 4.18b)
FCF Margin = 14.37% (FCF TTM 217.3m / Revenue TTM 1.51b)
Net Margin = 12.93% (Net Income TTM 195.6m / Revenue TTM 1.51b)
Gross Margin = 48.48% ((Revenue TTM 1.51b - Cost of Revenue TTM 779.1m) / Revenue TTM)
Gross Margin QoQ = 47.81% (prev 46.95%)
Tobins Q-Ratio = 1.26 (Enterprise Value 4.18b / Total Assets 3.32b)
Interest Expense / Debt = 0.07% (Interest Expense 830.0k / Debt 1.21b)
Taxrate = 13.48% (10.4m / 77.0m)
NOPAT = 209.2m (EBIT 241.8m * (1 - 13.48%))
Current Ratio = 2.04 (Total Current Assets 2.39b / Total Current Liabilities 1.17b)
Debt / Equity = 1.22 (Debt 1.21b / totalStockholderEquity, last quarter 995.0m)
Debt / EBITDA = 2.52 (Net Debt 807.5m / EBITDA 320.6m)
Debt / FCF = 3.72 (Net Debt 807.5m / FCF TTM 217.3m)
Total Stockholder Equity = 879.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.94% (Net Income 195.6m / Total Assets 3.32b)
RoE = 22.23% (Net Income TTM 195.6m / Total Stockholder Equity 879.8m)
RoCE = 16.65% (EBIT 241.8m / Capital Employed (Equity 879.8m + L.T.Debt 571.9m))
RoIC = 9.93% (NOPAT 209.2m / Invested Capital 2.11b)
WACC = 7.80% (E(4.45b)/V(5.66b) * Re(9.91%) + D(1.21b)/V(5.66b) * Rd(0.07%) * (1-Tc(0.13)))
Discount Rate = 9.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.26%
[DCF Debug] Terminal Value 78.93% ; FCFF base≈264.9m ; Y1≈266.9m ; Y5≈286.9m
Fair Price DCF = 33.85 (EV 5.24b - Net Debt 807.5m = Equity 4.43b / Shares 130.9m; r=7.80% [WACC]; 5y FCF grow 0.34% → 2.90% )
EPS Correlation: -65.28 | EPS CAGR: -46.38% | SUE: -4.0 | # QB: 0
Revenue Correlation: -51.03 | Revenue CAGR: -0.15% | SUE: 4.0 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.38 | Chg30d=+0.010 | Revisions Net=-15 | Analysts=19
EPS next Year (2026-12-31): EPS=2.10 | Chg30d=-0.032 | Revisions Net=-2 | Growth EPS=-23.8% | Growth Revenue=-16.1%

Additional Sources for ENPH Stock

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