ENPH Stock Analysis: Enphase Energy | NASDAQ
Solar | NASDAQ, USA | Market Cap: 5.666m USD | 12M Return: 4.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 317M
EPS Trend: -83.3%
Qual. Beats: 0
Rev. Trend: -76.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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. (NASDAQ: ENPH) is a U.S.-based energy technology company founded in 2006 and headquartered in Fremont, California. The company designs, manufactures, and sells home energy solutions for the solar photovoltaic (PV) industry, serving both domestic and international markets.
The companys core product is a semiconductor-based microinverter that converts direct current (DC) to alternating current (AC) at the individual solar module level, rather than at a central inverter as in traditional string inverter systems. This module-level architecture is paired with Enphases proprietary networking and software platform to provide energy monitoring, control, and cloud-based services. The product portfolio has expanded beyond microinverters to include the IQ Battery storage system, the IQ PowerPack 1500 portable power product, IQ Combiner, IQ Gateway, IQ Energy Router, and electric vehicle (EV) charging solutions, as well as installation, permitting, and post-sale support services.
Enphase sells through a diversified channel mix, including solar distributors, large installers, original equipment manufacturers (OEMs), strategic partners, and direct-to-consumer channels such as its online store and legacy product upgrade program. Listed on NASDAQ since 2012, the company is classified within the GICS Information Technology sector under Semiconductor Materials & Equipment, reflecting the semiconductor foundation of its microinverter technology. The business model is closely tied to residential solar adoption trends, the broader build-out of distributed energy resources, and the integration of rooftop PV with battery storage and EV charging.
- US residential solar demand slows on elevated interest rates
- Battery storage segment growth offsets microinverter revenue decline
- SolarEdge and Tesla competition pressures inverter pricing margins
| Net Income: 135.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -9.87 > 1.0 |
| NWC/Revenue: 96.33% < 20% (prev 72.93%; Δ 23.40% < -1%) |
| CFO/TA 0.07 > 3% & CFO 191.0m > Net Income 135.0m |
| Net Debt (-309.9m) to EBITDA (227.4m): -1.36 < 3 |
| Current Ratio: 3.80 > 1.5 & < 3 |
| Outstanding Shares: last quarter (131.3m) vs 12m ago -3.58% < -2% |
| Gross Margin: 44.23% > 18% (prev 47.91%; Δ -3.68% > 0.5%) |
| Asset Turnover: 48.02% > 50% (prev 45.82%; Δ 2.20% > 0%) |
| Interest Coverage Ratio: 47.60 > 6 (EBIT TTM 147.9m / Interest Expense TTM 3.11m) |
| A: 0.50 (Total Current Assets 1.83b - Total Current Liabilities 481.8m) / Total Assets 2.72b |
| B: -0.08 (Retained Earnings -211.3m / Total Assets 2.72b) |
| C: 0.05 (EBIT TTM 147.9m / Avg Total Assets 2.92b) |
| D: 0.68 (Book Value of Equity 1.10b / Total Liabilities 1.62b) |
| Altman-Z'' = 4.05 = AA |
| DSRI: 0.89 (Receivables 196.6m/225.6m, Revenue 1.40b/1.42b) |
| GMI: 1.08 (GM 47.91% / 44.23%) |
| AQI: 1.12 (AQ_t 0.28 / AQ_t-1 0.25) |
| SGI: 0.98 (Revenue 1.40b / 1.42b) |
| TATA: -0.02 (NI 135.0m - CFO 191.0m) / TA 2.72b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of July 11, 2026, the stock is trading at USD 44.83 with a total of 2,919,718 shares traded. Over the past week, the price has changed by +4.09%, over one month by -11.35%, over three months by +43.73% and over the past year by +4.33%.
Current recommended Stop Loss: 39.30 (which is 12.3% or 1.3 ATR below the current price).
Enphase Energy has received a consensus analysts rating of 3.45. Therefore, it is recommended to hold ENPH.
- StrongBuy: 11
- Buy: 5
- Hold: 19
- Sell: 1
- StrongSell: 4
| Analysts Target Price | 48.6 | 8.3% |
P/E Trailing = 43.8673
P/E Forward = 20.4918
P/S = 4.1946
P/B = 5.1495
P/EG = 1.1394
Revenue TTM = 1.40b USD
EBIT TTM = 147.9m USD
EBITDA TTM = 227.4m USD
Long Term Debt = 572.5m USD (from longTermDebt, last quarter)
Short Term Debt = 8.60m USD (from shortTermDebt, last quarter)
Debt = 620.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 8.60m
Net Debt = -309.9m USD (calculated: Debt 620.7m - CCE 930.6m)
Enterprise Value = 5.36b USD (5.67b + Debt 620.7m - CCE 930.6m)
Interest Coverage Ratio = 47.60 (Ebit TTM 147.9m / Interest Expense TTM 3.11m)
EV/FCF = 36.92x (Enterprise Value 5.36b / FCF TTM 145.1m)
FCF Yield = 2.71% (FCF TTM 145.1m / Enterprise Value 5.36b)
FCF Margin = 10.36% (FCF TTM 145.1m / Revenue TTM 1.40b)
Net Margin = 9.64% (Net Income TTM 135.0m / Revenue TTM 1.40b)
Gross Margin = 44.23% ((Revenue TTM 1.40b - Cost of Revenue TTM 780.6m) / Revenue TTM)
Gross Margin QoQ = 35.49% (prev 44.28%)
Tobins Q-Ratio = 1.97 (Enterprise Value 5.36b / Total Assets 2.72b)
Interest Expense / Debt = 0.50% (Interest Expense 3.11m / Debt 620.7m)
Taxrate = 6.29% (9.06m / 144.1m)
NOPAT = 138.6m (EBIT 147.9m * (1 - 6.29%))
Current Ratio = 3.80 (Total Current Assets 1.83b / Total Current Liabilities 481.8m)
Debt / Equity = 0.56 (Debt 620.7m / totalStockholderEquity, last quarter 1.10b)
Debt / EBITDA = -1.36 (Net Debt -309.9m / EBITDA 227.4m)
Debt / FCF = -2.14 (Net Debt -309.9m / FCF TTM 145.1m)
Total Stockholder Equity = 1.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.63% (Net Income 135.0m / Total Assets 2.72b)
RoE = 13.28% (Net Income TTM 135.0m / Total Stockholder Equity 1.02b)
RoCE = 9.31% (EBIT 147.9m / Capital Employed (Equity 1.02b + L.T.Debt 572.5m))
RoIC = 6.36% (NOPAT 138.6m / Invested Capital 2.18b)
WACC = 9.92% (E(5.67b)/V(6.29b) * Re(10.95%) + D(620.7m)/V(6.29b) * Rd(0.50%) * (1-Tc(0.06)))
Discount Rate = 10.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -60.0 | Cagr: -2.55%
[DCF] Terminal Value 67.48% ; FCFF base≈275.9m ; Y1≈241.9m ; Y5≈195.5m
[DCF] Fair Price = 21.29 (EV 2.50b - Net Debt -309.9m = Equity 2.81b / Shares 131.8m; r=9.92% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -83.33 | EPS CAGR: -29.25% | SUE: 0.15 | # QB: 0
Revenue Correlation: -76.30 | Revenue CAGR: -21.15% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.46 | Chg30d=-1.13% | Revisions=-25% | Analysts=18
EPS next Quarter (2026-09-30): EPS=0.54 | Chg30d=-2.33% | Revisions=-25% | Analysts=18
EPS current Year (2026-12-31): EPS=2.07 | Chg30d=-0.50% | Revisions=+0% | GrowthEPS=-30.1% | GrowthRev=-18.5%
EPS next Year (2027-12-31): EPS=2.41 | Chg30d=-0.31% | Revisions=-17% | GrowthEPS=+16.6% | GrowthRev=+8.2%
[Analyst] Revisions Ratio: -30% (up=2, down=5)