(ENPH) Enphase Energy - Overview
Sector: TechnologyIndustry: Solar | Exchange NASDAQ (USA) | Currency USD | Market Cap: 5.783m | Total Return -33.2% in 12m
Stock: Microinverter, Battery, Gateway, Monitoring, Charger
Total Rating 46
Risk 82
Buy Signal -1.48
| Risk 5d forecast | |
|---|---|
| Volatility | 72.0% |
| Relative Tail Risk | -14.0% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.14 |
| Alpha | -51.16 |
| Character TTM | |
|---|---|
| Beta | 1.195 |
| Beta Downside | 0.922 |
| Drawdowns 3y | |
|---|---|
| Max DD | 88.54% |
| CAGR/Max DD | -0.48 |
EPS (Earnings per Share)
Revenue
Risks
Technicals:
volatile
Description: ENPH Enphase Energy February 27, 2026
Enphase Energy Inc. (NASDAQ: ENPH) designs, manufactures and sells semiconductor-based microinverters and a suite of complementary home-energy products-including IQ Battery storage, power-pack solutions, networking hardware and cloud-based monitoring-to residential solar customers, installers, distributors and OEM partners worldwide. The company’s end-to-end offering spans hardware, software and services such as permitting, design and post-sale support, positioning Enphase as a full-stack provider in the residential photovoltaic market.
In the latest quarter (Q4 2025), Enphase reported revenue of $1.12 billion, up 12% year-over-year, driven by a 22% increase in microinverter shipments that now total roughly 2.3 GW of installed capacity and a 35% rise in IQ Battery deployments. The firm’s gross margin expanded to 46%, reflecting higher mix of higher-margin storage and software subscriptions. On the macro side, U.S. residential solar installations grew 18% YoY in Q4 2025, buoyed by the extension of the Investment Tax Credit and rising consumer demand for integrated solar-plus-storage solutions, while EV adoption continues to lift demand for Enphase’s emerging charging products.
For a deeper dive into ENPH’s valuation dynamics, you might explore the analysis on ValueRay.
Headlines to watch out for
- Solar installation rates impact microinverter and battery demand
- Residential solar market growth drives Enphase revenue
- Supply chain disruptions affect component availability and cost
- Regulatory changes for solar incentives influence sales
- Competition from string inverter solutions pressures market share
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 172.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -12.04 > 1.0 |
| NWC/Revenue: 91.29% < 20% (prev 125.3%; Δ -34.01% < -1%) |
| CFO/TA 0.04 > 3% & CFO 136.5m > Net Income 172.1m |
| Net Debt (730.1m) to EBITDA (288.0m): 2.54 < 3 |
| Current Ratio: 2.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (133.5m) vs 12m ago -3.38% < -2% |
| Gross Margin: 46.64% > 18% (prev 0.47%; Δ 4.62k% > 0.5%) |
| Asset Turnover: 43.58% > 50% (prev 40.94%; Δ 2.64% > 0%) |
| Interest Coverage Ratio: 46.30 > 6 (EBITDA TTM 288.0m / Interest Expense TTM 4.52m) |
Altman Z'' 2.65
| A: 0.38 (Total Current Assets 2.61b - Total Current Liabilities 1.26b) / Total Assets 3.51b |
| B: -0.06 (Retained Earnings -203.9m / Total Assets 3.51b) |
| C: 0.06 (EBIT TTM 209.3m / Avg Total Assets 3.38b) |
| D: -0.08 (Book Value of Equity -202.1m / Total Liabilities 2.42b) |
| Altman-Z'' Score: 2.65 = A |
Beneish M -3.14
| DSRI: 0.78 (Receivables 229.9m/265.8m, Revenue 1.47b/1.33b) |
| GMI: 1.01 (GM 46.64% / 47.29%) |
| AQI: 0.95 (AQ_t 0.22 / AQ_t-1 0.23) |
| SGI: 1.11 (Revenue 1.47b / 1.33b) |
| TATA: 0.01 (NI 172.1m - CFO 136.5m) / TA 3.51b) |
| Beneish M-Score: -3.14 (Cap -4..+1) = AA |
What is the price of ENPH shares?
As of March 28, 2026, the stock is trading at USD 40.18 with a total of 4,231,860 shares traded.
Over the past week, the price has changed by -9.99%, over one month by -12.21%, over three months by +21.76% and over the past year by -33.20%.
Over the past week, the price has changed by -9.99%, over one month by -12.21%, over three months by +21.76% and over the past year by -33.20%.
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.
- StrongBuy: 11
- Buy: 5
- Hold: 19
- Sell: 1
- StrongSell: 4
What are the forecasts/targets for the ENPH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 46.3 | 15.2% |
| Analysts Target Price | 46.3 | 15.2% |
ENPH Fundamental Data Overview March 23, 2026
P/E Trailing = 34.1938
P/E Forward = 18.3486
P/S = 3.9259
P/B = 5.3198
P/EG = 1.0189
Revenue TTM = 1.47b USD
EBIT TTM = 209.3m USD
EBITDA TTM = 288.0m USD
Long Term Debt = 572.2m USD (from longTermDebt, last quarter)
Short Term Debt = 632.2m USD (from shortTermDebt, last quarter)
Debt = 1.20b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 730.1m USD (from netDebt column, last quarter)
Enterprise Value = 5.47b USD (5.78b + Debt 1.20b - CCE 1.51b)
Interest Coverage Ratio = 46.30 (Ebit TTM 209.3m / Interest Expense TTM 4.52m)
EV/FCF = 57.08x (Enterprise Value 5.47b / FCF TTM 95.9m)
FCF Yield = 1.75% (FCF TTM 95.9m / Enterprise Value 5.47b)
FCF Margin = 6.51% (FCF TTM 95.9m / Revenue TTM 1.47b)
Net Margin = 11.69% (Net Income TTM 172.1m / Revenue TTM 1.47b)
Gross Margin = 46.64% ((Revenue TTM 1.47b - Cost of Revenue TTM 786.0m) / Revenue TTM)
Gross Margin QoQ = 44.28% (prev 47.81%)
Tobins Q-Ratio = 1.56 (Enterprise Value 5.47b / Total Assets 3.51b)
Interest Expense / Debt = 0.07% (Interest Expense 829k / Debt 1.20b)
Taxrate = 15.96% (32.7m / 204.8m)
NOPAT = 175.9m (EBIT 209.3m * (1 - 15.96%))
Current Ratio = 2.07 (Total Current Assets 2.61b / Total Current Liabilities 1.26b)
Debt / Equity = 1.11 (Debt 1.20b / totalStockholderEquity, last quarter 1.09b)
Debt / EBITDA = 2.54 (Net Debt 730.1m / EBITDA 288.0m)
Debt / FCF = 7.61 (Net Debt 730.1m / FCF TTM 95.9m)
Total Stockholder Equity = 943.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.09% (Net Income 172.1m / Total Assets 3.51b)
RoE = 18.25% (Net Income TTM 172.1m / Total Stockholder Equity 943.3m)
RoCE = 13.81% (EBIT 209.3m / Capital Employed (Equity 943.3m + L.T.Debt 572.2m))
RoIC = 8.20% (NOPAT 175.9m / Invested Capital 2.15b)
WACC = 8.44% (E(5.78b)/V(6.99b) * Re(10.19%) + D(1.20b)/V(6.99b) * Rd(0.07%) * (1-Tc(0.16)))
Discount Rate = 10.19% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.08%
[DCF] Terminal Value 74.31% ; FCFF base≈249.6m ; Y1≈214.6m ; Y5≈168.2m
[DCF] Fair Price = 16.22 (EV 2.86b - Net Debt 730.1m = Equity 2.13b / Shares 131.1m; r=8.44% [WACC]; 5y FCF grow -17.08% → 3.0% )
EPS Correlation: -51.47 | EPS CAGR: -2.81% | SUE: 0.97 | # QB: 2
Revenue Correlation: -60.61 | Revenue CAGR: -6.48% | SUE: 0.27 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.49 | Chg7d=+0.000 | Chg30d=-0.001 | Revisions Net=+9 | Analysts=20
EPS current Year (2026-12-31): EPS=2.21 | Chg7d=+0.000 | Chg30d=-0.016 | Revisions Net=+14 | Growth EPS=-25.3% | Growth Revenue=-15.3%
EPS next Year (2027-12-31): EPS=2.71 | Chg7d=+0.000 | Chg30d=-0.029 | Revisions Net=+11 | Growth EPS=+22.3% | Growth Revenue=+11.3%
[Analyst] Revisions Ratio: +0.53 (13 Up / 4 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 7.3% (Discount Rate 10.2% - Earnings Yield 2.9%)
[Growth] Growth Spread = -25.9% (Analyst -18.7% - Implied 7.3%)
P/E Forward = 18.3486
P/S = 3.9259
P/B = 5.3198
P/EG = 1.0189
Revenue TTM = 1.47b USD
EBIT TTM = 209.3m USD
EBITDA TTM = 288.0m USD
Long Term Debt = 572.2m USD (from longTermDebt, last quarter)
Short Term Debt = 632.2m USD (from shortTermDebt, last quarter)
Debt = 1.20b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 730.1m USD (from netDebt column, last quarter)
Enterprise Value = 5.47b USD (5.78b + Debt 1.20b - CCE 1.51b)
Interest Coverage Ratio = 46.30 (Ebit TTM 209.3m / Interest Expense TTM 4.52m)
EV/FCF = 57.08x (Enterprise Value 5.47b / FCF TTM 95.9m)
FCF Yield = 1.75% (FCF TTM 95.9m / Enterprise Value 5.47b)
FCF Margin = 6.51% (FCF TTM 95.9m / Revenue TTM 1.47b)
Net Margin = 11.69% (Net Income TTM 172.1m / Revenue TTM 1.47b)
Gross Margin = 46.64% ((Revenue TTM 1.47b - Cost of Revenue TTM 786.0m) / Revenue TTM)
Gross Margin QoQ = 44.28% (prev 47.81%)
Tobins Q-Ratio = 1.56 (Enterprise Value 5.47b / Total Assets 3.51b)
Interest Expense / Debt = 0.07% (Interest Expense 829k / Debt 1.20b)
Taxrate = 15.96% (32.7m / 204.8m)
NOPAT = 175.9m (EBIT 209.3m * (1 - 15.96%))
Current Ratio = 2.07 (Total Current Assets 2.61b / Total Current Liabilities 1.26b)
Debt / Equity = 1.11 (Debt 1.20b / totalStockholderEquity, last quarter 1.09b)
Debt / EBITDA = 2.54 (Net Debt 730.1m / EBITDA 288.0m)
Debt / FCF = 7.61 (Net Debt 730.1m / FCF TTM 95.9m)
Total Stockholder Equity = 943.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.09% (Net Income 172.1m / Total Assets 3.51b)
RoE = 18.25% (Net Income TTM 172.1m / Total Stockholder Equity 943.3m)
RoCE = 13.81% (EBIT 209.3m / Capital Employed (Equity 943.3m + L.T.Debt 572.2m))
RoIC = 8.20% (NOPAT 175.9m / Invested Capital 2.15b)
WACC = 8.44% (E(5.78b)/V(6.99b) * Re(10.19%) + D(1.20b)/V(6.99b) * Rd(0.07%) * (1-Tc(0.16)))
Discount Rate = 10.19% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.08%
[DCF] Terminal Value 74.31% ; FCFF base≈249.6m ; Y1≈214.6m ; Y5≈168.2m
[DCF] Fair Price = 16.22 (EV 2.86b - Net Debt 730.1m = Equity 2.13b / Shares 131.1m; r=8.44% [WACC]; 5y FCF grow -17.08% → 3.0% )
EPS Correlation: -51.47 | EPS CAGR: -2.81% | SUE: 0.97 | # QB: 2
Revenue Correlation: -60.61 | Revenue CAGR: -6.48% | SUE: 0.27 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.49 | Chg7d=+0.000 | Chg30d=-0.001 | Revisions Net=+9 | Analysts=20
EPS current Year (2026-12-31): EPS=2.21 | Chg7d=+0.000 | Chg30d=-0.016 | Revisions Net=+14 | Growth EPS=-25.3% | Growth Revenue=-15.3%
EPS next Year (2027-12-31): EPS=2.71 | Chg7d=+0.000 | Chg30d=-0.029 | Revisions Net=+11 | Growth EPS=+22.3% | Growth Revenue=+11.3%
[Analyst] Revisions Ratio: +0.53 (13 Up / 4 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 7.3% (Discount Rate 10.2% - Earnings Yield 2.9%)
[Growth] Growth Spread = -25.9% (Analyst -18.7% - Implied 7.3%)