ENPH Stock Analysis: Enphase Energy | NASDAQ
Solar | NASDAQ, USA | Market Cap: 4.481m USD | 12M Return: -8.7% | US29355A1079 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 154M
EPS Trend: -52.1%
Qual. Beats: 0
Rev. Trend: -68.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Enphase Energy, Inc. (ticker: ENPH) is a U.S.-based semiconductor and energy technology company that designs, manufactures, and sells home energy solutions for the solar photovoltaic industry, operating both domestically and internationally. The company is best known for its microinverter technology, which performs direct current to alternating current conversion at the individual solar module level, paired with proprietary networking and software that enables energy monitoring and control.
Enphases product portfolio extends beyond microinverters to include IQ Battery storage units, the IQ PowerPack 1500, and supporting system components such as the IQ Combiner, IQ Gateway, and IQ Energy Router. The company also offers cloud-based monitoring, electric vehicle charging solutions, and a suite of installation-related services, alongside its Enphase Care customer support offering.
The company distributes its solutions through multiple channels, reaching solar distributors, large installers, original equipment manufacturers, strategic partners, and individual homeowners, as well as through an online store and a legacy product upgrade program. Enphase was incorporated in 2006 and is headquartered in Fremont, California, and trades on the NASDAQ exchange.
Enphase operates within the solar energy value chain as a hardware and software provider, a market segment that has grown alongside the broader adoption of distributed rooftop solar and residential energy storage systems. Its microinverter approach competes with traditional string inverter systems in the residential and small commercial solar market, while its expansion into batteries and EV charging reflects the increasing convergence of solar, storage, and electrification in the home energy sector.
- IRA tax credits boost US residential solar installations
- SolarEdge price war squeezes microinverter margins
- IQ Battery storage revenue scales in European markets
| Net Income: 134.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -6.51 > 1.0 |
| NWC/Revenue: 104.3% < 20% (prev 75.96%; Δ 28.32% < -1%) |
| CFO/TA 0.07 > 3% & CFO 204.7m > Net Income 134.0m |
| Net Debt (-344.6m) to EBITDA (220.9m): -1.56 < 3 |
| Current Ratio: 3.45 > 1.5 & < 3 |
| Outstanding Shares: last quarter (132.8m) vs 12m ago -1.80% < -2% |
| Gross Margin: 46.95% > 18% (prev 48.23%; Δ -1.29% > 0.5%) |
| Asset Turnover: 43.57% > 50% (prev 46.65%; Δ -3.08% > 0%) |
| Interest Coverage Ratio: 35.84 > 6 (EBIT TTM 139.3m / Interest Expense TTM 3.88m) |
| A: 0.47 (Total Current Assets 1.95b - Total Current Liabilities 565.2m) / Total Assets 2.92b |
| B: -0.06 (Retained Earnings -175.2m / Total Assets 2.92b) |
| C: 0.05 (EBIT TTM 139.3m / Avg Total Assets 3.05b) |
| D: 0.68 (Book Value of Equity 1.18b / Total Liabilities 1.74b) |
| Altman-Z'' = 3.94 = AA |
| DSRI: 1.15 (Receivables 273.6m/265.6m, Revenue 1.33b/1.48b) |
| GMI: 1.03 (GM 48.23% / 46.95%) |
| AQI: 1.25 (AQ_t 0.29 / AQ_t-1 0.23) |
| SGI: 0.90 (Revenue 1.33b / 1.48b) |
| TATA: -0.02 (NI 134.0m - CFO 204.7m) / TA 2.92b) |
| Beneish M = -2.81 (Cap -4..+1) = A |
As of October 09, 2026, the stock is trading at USD 32.91 with a total of 5,068,595 shares traded. Over the past week, the price has changed by +0.27%, over one month by -15.25%, over three months by -23.50% and over the past year by -8.66%.
Current recommended Stop Loss: 29.40 (which is 10.7% or 2.1 ATR below the current price).
Enphase Energy has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold ENPH.
- StrongBuy: 10
- Buy: 3
- Hold: 15
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 51.5 | 56.4% |
P/E Trailing = 33.5743
P/E Forward = 14.3062
P/S = 3.373
P/B = 3.6977
P/EG = 0.7455
Revenue TTM = 1.33b USD
EBIT TTM = 139.3m USD
EBITDA TTM = 220.9m USD
Long Term Debt = 572.8m USD (from longTermDebt, last quarter)
Short Term Debt = 9.10m USD (from shortTermDebt, last quarter)
Debt = 622.5m USD (from shortLongTermDebtTotal, last quarter) + Leases 9.10m
Net Debt = -344.6m USD (calculated: Debt 622.5m - CCE 967.1m)
Enterprise Value = 4.14b USD (4.48b + Debt 622.5m - CCE 967.1m)
Interest Coverage Ratio = 35.84 (Ebit TTM 139.3m / Interest Expense TTM 3.88m)
EV/FCF = 27.10x (Enterprise Value 4.14b / FCF TTM 152.6m)
FCF Yield = 3.69% (FCF TTM 152.6m / Enterprise Value 4.14b)
FCF Margin = 11.49% (FCF TTM 152.6m / Revenue TTM 1.33b)
Net Margin = 10.09% (Net Income TTM 134.0m / Revenue TTM 1.33b)
Gross Margin = 46.95% ((Revenue TTM 1.33b - Cost of Revenue TTM 704.8m) / Revenue TTM)
Gross Margin QoQ = 59.97% (prev 35.49%)
Tobins Q-Ratio = 1.42 (Enterprise Value 4.14b / Total Assets 2.92b)
Interest Expense / Debt = 0.62% (Interest Expense 3.88m / Debt 622.5m)
Taxrate = 18.16% (29.7m / 163.8m)
NOPAT = 114.0m (EBIT 139.3m * (1 - 18.16%))
Current Ratio = 3.45 (Total Current Assets 1.95b / Total Current Liabilities 565.2m)
Debt / Equity = 0.53 (Debt 622.5m / totalStockholderEquity, last quarter 1.18b)
Debt / EBITDA = -1.56 (Net Debt -344.6m / EBITDA 220.9m)
Debt / FCF = -2.26 (Net Debt -344.6m / FCF TTM 152.6m)
Total Stockholder Equity = 1.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.40% (Net Income 134.0m / Total Assets 2.92b)
RoE = 12.28% (Net Income TTM 134.0m / Total Stockholder Equity 1.09b)
RoCE = 8.37% (EBIT 139.3m / Capital Employed (Equity 1.09b + L.T.Debt 572.8m))
RoIC = 4.96% (NOPAT 114.0m / Invested Capital 2.30b)
WACC = 10.19% (E(4.48b)/V(5.10b) * Re(11.53%) + D(622.5m)/V(5.10b) * Rd(0.62%) * (1-Tc(0.18)))
Discount Rate = 11.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -77.10 | Cagr: -1.02%
[DCF] Terminal Value 66.56% ; FCFF base≈240.8m ; Y1≈211.1m ; Y5≈170.6m
[DCF] Fair Price = 18.53 (EV 2.10b - Net Debt -344.6m = Equity 2.45b / Shares 132.1m; r=10.19% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -52.10 | EPS CAGR: -15.25% | SUE: -0.16 | # QB: 0
Revenue Correlation: -68.89 | Revenue CAGR: -16.51% | SUE: 0.10 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.50 | Chg30d=+0.60% | Revisions=+25% | Analysts=17
EPS current Year (2026-12-31): EPS=1.99 | Chg30d=-0.46% | Revisions=+40% | GrowthEPS=-32.7% | GrowthRev=-19.4%
EPS next Year (2027-12-31): EPS=2.19 | Chg30d=-3.68% | Revisions=-50% | GrowthEPS=+10.0% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: +0% (up=3, down=3)