What is Enphase Energy's earnings per share (EPS)?

Enphase Energy (ENPH) reported diluted earnings per share of $1.29 for fiscal year 2025. This represents a 72.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Enphase Energy Financials

ENPH

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Enphase Energy (ENPH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Enphase Energy has an operating margin of 10.7%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 46/100, indicating healthy but not exceptional operating efficiency. This is up from 5.8% the prior year.

Growth

Enphase Energy's revenue grew 10.7% year-over-year to $1.5B, a solid pace of expansion. This earns a growth score of 51/100.

Leverage

Enphase Energy carries a low D/E ratio of 0.53, meaning only $0.53 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Enphase Energy's current ratio of 2.07 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Enphase Energy has a free cash flow margin of 6.5%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Enphase Energy's ROE of 15.8% shows moderate profitability relative to equity, earning a score of 46/100. This is up from 12.3% the prior year.

Altman Z-Score Grey Zone

2.08

Enphase Energy scores 2.08, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($4.6B) relative to total liabilities ($2.4B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Enphase Energy passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

0.79x

For every $1 of reported earnings, Enphase Energy generates $0.79 in operating cash flow ($136.5M OCF vs $172.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

34.8x

Enphase Energy earns $34.8 in operating income for every $1 of interest expense ($157.5M vs $4.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.5B

YoY+10.7%

5Y CAGR+13.7%

10Y CAGR+15.7%

Enphase Energy generated $1.5B in revenue in fiscal year 2025. This represents an increase of 10.7% from the prior year.

EBITDA

$238.2M

YoY+50.1%

5Y CAGR+3.1%

Enphase Energy's EBITDA was $238.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 50.1% from the prior year.

Net Income

$172.1M

YoY+67.7%

5Y CAGR+5.1%

Enphase Energy reported $172.1M in net income in fiscal year 2025. This represents an increase of 67.7% from the prior year.

EPS (Diluted)

$1.29

YoY+72.0%

5Y CAGR+6.3%

Enphase Energy earned $1.29 per diluted share (EPS) in fiscal year 2025. This represents an increase of 72.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$95.9M

YoY-80.0%

5Y CAGR-13.3%

10Y CAGR+24.2%

Enphase Energy generated $95.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 80.0% from the prior year.

Cash & Debt

$474.3M

YoY+28.5%

5Y CAGR-6.9%

10Y CAGR+27.4%

Enphase Energy held $474.3M in cash against $572.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

131M

YoY-1.0%

5Y CAGR+0.3%

10Y CAGR+11.6%

Enphase Energy had 131M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

Margins & Returns

Gross Margin

46.6%

YoY-0.7pp

5Y CAGR+2.0pp

10Y CAGR+13.8pp

Enphase Energy's gross margin was 46.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.

Operating Margin

10.7%

YoY+4.9pp

5Y CAGR-13.4pp

Enphase Energy's operating margin was 10.7% in fiscal year 2025, reflecting core business profitability. This is up 4.9 percentage points from the prior year.

Net Margin

11.7%

YoY+4.0pp

5Y CAGR-5.6pp

10Y CAGR+14.0pp

Enphase Energy's net profit margin was 11.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.0 percentage points from the prior year.

Return on Equity

15.8%

YoY+3.5pp

5Y CAGR-11.8pp

10Y CAGR+33.0pp

Enphase Energy's ROE was 15.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$189.1M

YoY-6.1%

5Y CAGR+27.6%

10Y CAGR+15.3%

Enphase Energy invested $189.1M in research and development in fiscal year 2025. This represents a decrease of 6.1% from the prior year.

Share Buybacks

$130.0M

YoY-66.8%

Enphase Energy spent $130.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 66.8% from the prior year.

Capital Expenditures

$40.6M

YoY+20.9%

5Y CAGR+14.6%

10Y CAGR+11.9%

Enphase Energy invested $40.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 20.9% from the prior year.

ENPH Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.5B+10.7%	$1.3B-41.9%	$2.3B-1.7%	$2.3B+68.7%	$1.4B+78.5%	$774.4M
Cost of Revenue	$786.0M+12.1%	$701.2M-43.1%	$1.2B-9.1%	$1.4B+63.9%	$827.6M+93.2%	$428.4M
Gross Profit	$687.0M+9.2%	$629.1M-40.6%	$1.1B+8.6%	$974.6M+75.8%	$554.4M+60.2%	$346.0M
R&D Expenses	$189.1M-6.1%	$201.3M-11.4%	$227.3M+34.6%	$168.8M+60.0%	$105.5M+88.7%	$55.9M
SG&A Expenses	$135.8M+3.8%	$130.8M-5.1%	$137.8M-1.5%	$140.0M+34.5%	$104.1M+105.3%	$50.7M
Operating Income	$157.5M+103.8%	$77.3M-82.7%	$445.7M-0.6%	$448.3M+107.7%	$215.8M+15.8%	$186.4M
Interest Expense	$4.5M-49.2%	$8.9M+0.7%	$8.8M-6.3%	$9.4M-79.1%	$45.2M+115.0%	$21.0M
Income Tax	$32.7M+86.7%	$17.5M-76.4%	$74.2M+35.7%	$54.7M+323.0%	-$24.5M-68.1%	-$14.6M
Net Income	$172.1M+67.7%	$102.7M-76.6%	$438.9M+10.5%	$397.4M+173.2%	$145.4M+8.5%	$134.0M
EPS (Diluted)	$1.29+72.0%	$0.75-75.6%	$3.08+11.2%	$2.77+171.6%	$1.02+7.4%	$0.95

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$343.3M-16.4%	$410.4M+13.0%	$363.2M+2.0%	$356.1M-7.0%	$382.7M+0.5%	$380.9M+25.5%	$303.5M+15.2%	$263.3M
Cost of Revenue	$191.3M-10.7%	$214.2M+11.2%	$192.7M+2.6%	$187.8M+1.9%	$184.4M-9.0%	$202.7M+21.9%	$166.3M+12.5%	$147.8M
Gross Profit	$152.0M-22.5%	$196.2M+15.1%	$170.5M+1.3%	$168.2M-15.2%	$198.3M+11.3%	$178.2M+29.9%	$137.2M+18.8%	$115.5M
R&D Expenses	$46.2M-2.2%	$47.3M+4.1%	$45.4M-9.5%	$50.2M-0.4%	$50.4M+5.3%	$47.8M-2.1%	$48.9M-9.9%	$54.2M
SG&A Expenses	$34.6M+4.5%	$33.1M-2.8%	$34.0M0.0%	$34.0M+6.7%	$31.9M+5.7%	$30.2M-10.0%	$33.5M-4.6%	$35.2M
Operating Income	$22.4M-66.1%	$66.2M+78.8%	$37.0M+15.9%	$31.9M-41.8%	$54.8M+10.1%	$49.8M+2667.5%	$1.8M+106.2%	-$29.1M
Interest Expense	$829K-0.1%	$830K+1.8%	$815K-60.2%	$2.0M-9.1%	$2.3M+0.7%	$2.2M+0.8%	$2.2M+1.1%	$2.2M
Income Tax	-$16K-100.2%	$10.4M+101.5%	$5.2M-70.0%	$17.2M+127.7%	$7.5M+51.4%	$5.0M+1200.5%	$383K-91.7%	$4.6M
Net Income	$38.7M-41.9%	$66.6M+79.8%	$37.1M+24.6%	$29.7M-52.2%	$62.2M+35.8%	$45.8M+322.4%	$10.8M+167.3%	-$16.1M
EPS (Diluted)	N/A	$0.50+78.6%	$0.28+27.3%	$0.22	N/A	$0.33+312.5%	$0.08+166.7%	$-0.12

ENPH Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.5B+8.0%	$3.2B-3.9%	$3.4B+9.7%	$3.1B+48.3%	$2.1B+73.3%	$1.2B
Current Assets	$2.6B+12.0%	$2.3B-4.8%	$2.4B+7.9%	$2.3B+54.8%	$1.5B+56.7%	$933.1M
Cash & Equivalents	$474.3M+28.5%	$369.1M+27.8%	$288.7M-39.0%	$473.2M+296.6%	$119.3M-82.4%	$679.4M
Inventory	$288.0M+74.6%	$165.0M-22.7%	$213.6M+42.7%	$149.7M+101.2%	$74.4M+78.1%	$41.8M
Accounts Receivable	$229.9M+2.7%	$223.7M-49.8%	$446.0M+1.1%	$440.9M+32.2%	$333.6M+83.1%	$182.2M
Goodwill	$214.8M+1.5%	$211.6M-1.4%	$214.6M+0.5%	$213.6M+17.8%	$181.3M+631.4%	$24.8M
Total Liabilities	$2.4B+0.3%	$2.4B+0.7%	$2.4B+6.2%	$2.3B+37.0%	$1.6B+130.3%	$716.1M
Current Liabilities	$1.3B+91.2%	$660.1M+24.0%	$532.4M-16.6%	$638.2M+45.1%	$439.8M-17.6%	$534.0M
Long-Term Debt	$572.2M-52.4%	$1.2B-7.2%	$1.3B+7.9%	$1.2B+26.0%	$951.6M+19328.2%	$4.9M
Total Equity	$1.1B+30.5%	$833.0M-15.3%	$983.6M+19.1%	$825.6M+91.9%	$430.2M-11.1%	$484.0M
Retained Earnings	-$203.9M+16.8%	-$245.2M-629.9%	$46.3M+166.9%	$17.3M+104.3%	-$405.7M-692.7%	-$51.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$3.5B+5.7%	$3.3B+4.5%	$3.2B+2.3%	$3.1B-4.4%	$3.2B-0.4%	$3.3B+3.1%	$3.2B-2.1%	$3.2B
Current Assets	$2.6B+9.0%	$2.4B+4.5%	$2.3B+4.2%	$2.2B-5.6%	$2.3B-1.4%	$2.4B+5.3%	$2.2B-2.6%	$2.3B
Cash & Equivalents	$474.3M+18.0%	$401.9M+8.5%	$370.5M+5.8%	$350.1M-5.2%	$369.1M+44.0%	$256.3M+1.7%	$252.1M-0.6%	$253.7M
Inventory	$288.0M+52.7%	$188.7M+9.0%	$173.0M+20.1%	$144.0M-12.7%	$165.0M+3.9%	$158.8M-9.8%	$176.1M-15.3%	$207.9M
Accounts Receivable	$229.9M-13.4%	$265.5M+18.9%	$223.2M-1.1%	$225.6M+0.8%	$223.7M-3.6%	$232.2M-16.3%	$277.5M-23.8%	$364.4M
Goodwill	$214.8M+0.2%	$214.4M-0.2%	$214.9M+1.2%	$212.4M+0.4%	$211.6M-1.3%	$214.3M+0.5%	$213.2M-0.2%	$213.6M
Total Liabilities	$2.4B+4.2%	$2.3B+1.2%	$2.3B+0.1%	$2.3B-5.0%	$2.4B+3.6%	$2.3B+2.2%	$2.3B-1.2%	$2.3B
Current Liabilities	$1.3B+7.8%	$1.2B+0.7%	$1.2B+0.3%	$1.2B+75.6%	$660.1M+16.3%	$567.5M+7.1%	$529.6M-4.4%	$554.1M
Long-Term Debt	$572.2M+0.1%	$571.9M+0.1%	$571.5M+0.1%	$571.2M-52.4%	$1.2B+0.1%	$1.2B+0.1%	$1.2B+0.1%	$1.2B
Total Equity	$1.1B+9.2%	$995.0M+13.0%	$880.6M+8.6%	$810.7M-2.7%	$833.0M-10.6%	$931.4M+5.3%	$884.5M-4.1%	$922.7M
Retained Earnings	-$203.9M+15.9%	-$242.6M+21.6%	-$309.2M+2.1%	-$315.9M-28.8%	-$245.2M-133.7%	-$104.9M-4.0%	-$100.9M-753.6%	-$11.8M

ENPH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$136.5M-73.4%	$513.7M-26.3%	$696.8M-6.4%	$744.8M+111.6%	$352.0M+62.7%	$216.3M
Capital Expenditures	$40.6M+20.9%	$33.6M-69.6%	$110.4M+137.7%	$46.4M-11.1%	$52.3M+154.2%	$20.6M
Free Cash Flow	$95.9M-80.0%	$480.1M-18.1%	$586.4M-16.0%	$698.4M+133.0%	$299.8M+53.1%	$195.8M
Investing Cash Flow	$106.8M-16.7%	$128.3M+135.0%	-$366.4M+1.5%	-$371.9M+69.5%	-$1.2B-4669.8%	-$25.6M
Financing Cash Flow	-$241.6M+47.5%	-$460.3M+10.9%	-$516.8M-2917.5%	-$17.1M-105.5%	$309.4M+61.4%	$191.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$130.0M-66.8%	$391.4M-4.5%	$410.0M	$0-100.0%	$500.0M	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$47.6M+241.9%	$13.9M-47.7%	$26.6M-45.0%	$48.4M-71.1%	$167.3M-1.7%	$170.1M+33.9%	$127.1M+158.3%	$49.2M
Capital Expenditures	$9.7M+21.3%	$8.0M-2.7%	$8.3M-43.5%	$14.6M+81.2%	$8.1M-5.5%	$8.5M-11.4%	$9.6M+30.7%	$7.4M
Free Cash Flow	$37.8M+542.9%	$5.9M-68.0%	$18.4M-45.7%	$33.8M-78.8%	$159.2M-1.5%	$161.6M+37.6%	$117.4M+180.7%	$41.8M
Investing Cash Flow	$23.5M+9.8%	$21.4M+141.8%	-$51.2M-145.3%	$113.1M-54.9%	$250.6M+322.8%	-$112.5M-307.2%	-$27.6M-255.8%	$17.7M
Financing Cash Flow	$1.8M+206.3%	-$1.7M+93.9%	-$27.6M+87.1%	-$214.2M-5.6%	-$202.7M-261.6%	-$56.1M+44.3%	-$100.6M+0.2%	-$100.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$30.0M-70.0%	$100.0M-49.9%	$199.7M+301.0%	$49.8M-50.2%	$99.9M+137.9%	$42.0M

ENPH Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	46.6%-0.7pp	47.3%+1.1pp	46.2%+4.4pp	41.8%+1.7pp	40.1%-4.6pp	44.7%
Operating Margin	10.7%+4.9pp	5.8%-13.7pp	19.5%+0.2pp	19.2%+3.6pp	15.6%-8.4pp	24.1%
Net Margin	11.7%+4.0pp	7.7%-11.4pp	19.2%+2.1pp	17.1%+6.5pp	10.5%-6.8pp	17.3%
Return on Equity	15.8%+3.5pp	12.3%-32.3pp	44.6%-3.5pp	48.1%+14.3pp	33.8%+6.1pp	27.7%
Return on Assets	4.9%+1.7pp	3.2%-9.8pp	13.0%+0.1pp	12.9%+5.9pp	7.0%-4.2pp	11.2%
Current Ratio	2.07-1.5	3.53-1.1	4.59+1.0	3.55+0.2	3.33+1.6	1.75
Debt-to-Equity	0.53-0.9	1.44+0.1	1.32-0.1	1.45-0.8	2.21+2.2	0.01
FCF Margin	6.5%-29.6pp	36.1%+10.5pp	25.6%-4.4pp	30.0%+8.3pp	21.7%-3.6pp	25.3%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	44.3%-3.5pp	47.8%+0.9pp	46.9%-0.3pp	47.3%-4.6pp	51.8%+5.0pp	46.8%+1.6pp	45.2%+1.3pp	43.9%
Operating Margin	6.5%-9.6pp	16.1%+5.9pp	10.2%+1.2pp	9.0%-5.4pp	14.3%+1.2pp	13.1%+12.5pp	0.6%+11.6pp	-11.1%
Net Margin	11.3%-5.0pp	16.2%+6.0pp	10.2%+1.8pp	8.3%-7.9pp	16.2%+4.2pp	12.0%+8.4pp	3.6%+9.7pp	-6.1%
Return on Equity	3.6%-3.1pp	6.7%+2.5pp	4.2%+0.5pp	3.7%-3.8pp	7.5%+2.6pp	4.9%+3.7pp	1.2%+3.0pp	-1.7%
Return on Assets	1.1%-0.9pp	2.0%+0.8pp	1.2%+0.2pp	1.0%-0.9pp	1.9%+0.5pp	1.4%+1.1pp	0.3%+0.8pp	-0.5%
Current Ratio	2.07+0.0	2.04+0.1	1.97+0.1	1.90-1.6	3.53-0.6	4.16-0.1	4.23+0.1	4.16
Debt-to-Equity	0.53-0.0	0.57-0.1	0.65-0.1	0.70-0.7	1.44+0.2	1.29-0.1	1.36+0.1	1.30
FCF Margin	11.0%+9.6pp	1.4%-3.6pp	5.1%-4.4pp	9.5%-32.1pp	41.6%-0.8pp	42.4%+3.7pp	38.7%+22.8pp	15.9%

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Frequently Asked Questions

What is Enphase Energy's annual revenue?

Enphase Energy (ENPH) reported $1.5B in total revenue for fiscal year 2025. This represents a 10.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Enphase Energy's revenue growing?

Enphase Energy (ENPH) revenue grew by 10.7% year-over-year, from $1.3B to $1.5B in fiscal year 2025.

Is Enphase Energy profitable?

Yes, Enphase Energy (ENPH) reported a net income of $172.1M in fiscal year 2025, with a net profit margin of 11.7%.

What is Enphase Energy's EBITDA?

Enphase Energy (ENPH) had EBITDA of $238.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Enphase Energy have?

As of fiscal year 2025, Enphase Energy (ENPH) had $474.3M in cash and equivalents against $572.2M in long-term debt.

What is Enphase Energy's gross margin?

Enphase Energy (ENPH) had a gross margin of 46.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Enphase Energy's operating margin?

Enphase Energy (ENPH) had an operating margin of 10.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Enphase Energy's net profit margin?

Enphase Energy (ENPH) had a net profit margin of 11.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Enphase Energy's return on equity (ROE)?

Enphase Energy (ENPH) has a return on equity of 15.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Enphase Energy's free cash flow?

Enphase Energy (ENPH) generated $95.9M in free cash flow during fiscal year 2025. This represents a -80.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Enphase Energy's operating cash flow?

Enphase Energy (ENPH) generated $136.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Enphase Energy's total assets?

Enphase Energy (ENPH) had $3.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Enphase Energy's capital expenditures?

Enphase Energy (ENPH) invested $40.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Enphase Energy spend on research and development?

Enphase Energy (ENPH) invested $189.1M in research and development during fiscal year 2025.

Does Enphase Energy buy back shares?

Yes, Enphase Energy (ENPH) spent $130.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Enphase Energy have outstanding?

Enphase Energy (ENPH) had 131M shares outstanding as of fiscal year 2025.

What is Enphase Energy's current ratio?

Enphase Energy (ENPH) had a current ratio of 2.07 as of fiscal year 2025, which is generally considered healthy.

What is Enphase Energy's debt-to-equity ratio?

Enphase Energy (ENPH) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Enphase Energy's return on assets (ROA)?

Enphase Energy (ENPH) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Enphase Energy's Altman Z-Score?

Enphase Energy (ENPH) has an Altman Z-Score of 2.08, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Enphase Energy's Piotroski F-Score?

Enphase Energy (ENPH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Enphase Energy's earnings high quality?

Enphase Energy (ENPH) has an earnings quality ratio of 0.79x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Enphase Energy cover its interest payments?

Enphase Energy (ENPH) has an interest coverage ratio of 34.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Enphase Energy?

Enphase Energy (ENPH) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.