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Profile & Fundamentals

Enphase Energy Profile & Fundamentals

Name: Enphase Energy financial chart data preview
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Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Company and Market Context

Company Profile & Ownership

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 that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It also provides microinverter units and related accessories; IQ Battery and related accessories; IQ PowerPack 1500 and related accessories; IQ Combiner, IQ Gateway, and IQ Energy Router; cloud-based monitoring service; and electric vehicle charging solutions, as well as design, proposal, permitting, installation and solar appointment generation services, and Enphase Care services. 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.

Company profile record

Enphase Energy Inc

Common Stock · Information Technology · Semiconductor Materials & Equipment

Official website

Company

Company / asset: Enphase Energy Inc
Security type: Common Stock
Sector: Information Technology
Industry: Semiconductor Materials & Equipment
HQ: 🇺🇸 United States
Head office: 47281 Bayside Parkway, Fremont, CA, United States, 94538

Leadership & scale

Chief executive: Mr. Badrinarayanan Kothandaraman
CEO year born: 1973
Full-time employees: 2.9K
Fiscal year end: December
IPO date: 2012-03-30

Fundamentals snapshot

Updated 2026-09-13

Market Cap: USD 4.6B
P/E: 34.3x
Revenue (Q2 26): USD 291.9M
Profit (Q2 26): USD 36.1M
Dividend Yield: --
Revenue (FY 25): USD 1.5B
Shares in public float: 128.1M
Insider ownership: 3.03%

Reporting & identifiers

Symbol: ENPH.NASDAQ
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: US29355A1079
Asset ID: equity_becdb741-0d31-5f88-8b00-de8d5e4d4e7e

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc22,202,913 shares · 16.80% · Reported 2026-03-31
Vanguard Portfolio Management, LLC9,658,892 shares · 7.31% · Reported 2026-03-31
iShares Core S&P Small-Cap ETF8,033,806 shares · 6.08% · Reported 2026-08-31
Alyeska Investment Group, L.P.5,845,629 shares · 4.42% · Reported 2026-03-31
Vanguard Capital Management, LLC5,667,108 shares · 4.29% · Reported 2026-03-31
Two Sigma Investments LLC4,655,692 shares · 3.52% · Reported 2026-06-30
State Street Corp4,597,699 shares · 3.48% · Reported 2026-03-31

View more holders (8)

iShares Global Clean Engy Trns ETF $Dist4,372,983 shares · 3.31% · Reported 2026-08-28
Vanguard MStar Total Stk Mkt Idx Invest3,986,385 shares · 3.02% · Reported 2026-07-31
Amvescap Plc.3,682,383 shares · 2.79% · Reported 2026-03-31
Holocene Advisors, LP3,361,368 shares · 2.54% · Reported 2026-03-31
Morgan Stanley - Brokerage Accounts2,928,679 shares · 2.22% · Reported 2026-03-31
Vanguard Small Cap Index2,879,024 shares · 2.18% · Reported 2026-07-31
iShares Global Clean Energy ETF2,690,118 shares · 2.04% · Reported 2026-08-31
Geode Capital Management, LLC2,589,905 shares · 1.96% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The company is currently navigating a very challenging financial period. Recent reports show a major drop in revenue, with sales falling over forty percent from their peak, leading to a temporary net loss in early 2026. This drop was caused by a combination of high interest rates and the end of government solar tax credits, which forced the company to slow down shipments to clear out excess inventory. However, there is strong agreement that the company's underlying financial engine remains healthy, as it has managed to keep its gross profit margins remarkably high. While some analysts worry that the business is stuck in a long-term trap, most agree that earnings will slowly recover as the company shifts its focus toward high-margin battery sales, smart energy software, and new commercial power products.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

The company's ability to maintain high profit margins is the strongest proof of its competitive advantage. Despite a massive drop in sales volume, gross margins have held remarkably steady in the mid-forty percent range. This shows that the company has incredible pricing power and does not need to slash prices to compete. However, operating margins have temporarily shrunk because fixed costs, like research and development, are being spread over fewer sales. There is a clear clash in the outlook: some analysts believe margins will remain under pressure due to cheap foreign competition and the loss of subsidies, while others expect a rapid rebound. The optimistic view is that as sales volumes recover and high-margin software and battery products grow, overall profitability will expand back toward historical highs.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	322,591,000	-45,798,000	-67,462,000	17.98	-19.44	-20.91	-14.2
2017-12-31	286,166,000	-32,563,000	-45,192,000	19.58	-13.76	-15.79	-11.38
2018-12-31	316,159,000	11,981,000	-11,627,000	29.87	0.5	-3.68	3.79
2019-12-31	624,333,000	124,279,000	161,148,000	35.44	16.45	25.81	19.91
2020-12-31	774,425,000	195,776,000	133,995,000	44.68	24.07	17.3	25.28
2021-12-31	1,382,049,000	299,520,000	145,449,000	40.12	15.62	10.52	21.67
2022-12-31	2,330,853,000	698,374,000	397,362,000	41.81	19.23	17.05	29.96
2023-12-31	2,290,786,000	586,379,000	438,936,000	46.2	19.46	19.16	25.6
2024-12-31	1,330,383,000	480,089,000	102,658,000	47.29	5.81	7.72	36.09
2025-12-31	1,472,985,000	95,901,000	172,133,000	46.64	11.18	11.69	6.51

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	24.85	Trailing four quarters
2024-12-31	92.41	Trailing four quarters
2023-12-31	41.91	Trailing four quarters
2022-12-31	97.56	Annual net income
2021-12-31	177.95	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	85,689,000
2018-01-01	113,888,000
2019-01-01	132,872,000
2020-01-01	145,990,000
2021-01-01	141,480,000
2022-01-01	146,311,000
2023-01-01	139,205,000
2024-01-01	138,128,000
2025-01-01	133,461,000
2026-01-01	132,788,000

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Earnings, Profitability & Valuation
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Capital Expenditure & R&D
- Capital allocation AI review
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Balance Sheet
- Balance sheet AI review
- Assets, debt and equity
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Dividends & Actions
- Cash dividends paid
- Dividend indicators
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- Available corporate actions
Company Events
- Dated insider transactions
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