Enphase Energy Financials
Enphase Energy (ENPH) reported $1.5B in revenue for fiscal year 2025, up 10.7% from the prior fiscal year. This page shows its 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).
Enphase’s high gross margin survived a sharp revenue reset, but cash conversion and near-term liquidity weakened meaningfully in FY2025.
The non-obvious shift is that earnings recovered faster than cash: net margin reached11.7% in FY2025, yet operating cash flow fell below net income after sitting far above it a year earlier. With inventory rising to$288M , the business appears to have moved from releasing cash to absorbing it, so reported profit looked healthier than the cash engine.
Gross margin held near
The balance sheet is less debt-dependent than a year ago: debt-to-equity improved to 0.5x and long-term debt fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Enphase Energy's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Enphase Energy has an operating margin of 10.7%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 5.8% the prior year.
Enphase Energy's revenue grew 10.7% year-over-year to $1.5B, a solid pace of expansion. This earns a growth score of 5/100.
Enphase Energy has a moderate D/E ratio of 0.53. This balance of debt and equity financing earns a leverage score of 63/100.
Enphase Energy's current ratio of 2.07 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.
Enphase Energy converts 6.5% of revenue into free cash flow ($95.9M). This strong cash generation earns a score of 86/100.
Enphase Energy's ROE of 15.8% shows moderate profitability relative to equity, earning a score of 58/100. This is up from 12.3% the prior year.
Enphase Energy scores 2.21, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($5.1B) relative to total liabilities ($2.4B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
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.
Enphase Energy earns $34.84 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
Earnings & Revenue
Enphase Energy generated $1.5B in revenue in fiscal year 2025. This represents an increase of 10.7% from the prior year.
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.
Enphase Energy reported $172.1M in net income in fiscal year 2025. This represents an increase of 67.7% from the prior year.
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
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.
Enphase Energy held $474.3M in cash against $572.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
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.
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.
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
Enphase Energy invested $189.1M in research and development in fiscal year 2025. This represents a decrease of 6.1% from the prior year.
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.
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
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B+10.7% | $1.3B-41.9% | $2.3B-1.7% | $2.3B+68.7% | $1.4B+78.5% | $774.4M+24.0% | $624.3M+97.5% | $316.2M+10.5% | $286.2M-11.3% | $322.6M-9.7% | $357.2M+3.9% | $343.9M+47.7% | $232.8M+7.5% | $216.7M+44.9% | $149.5M |
| Cost of Revenue | $780.6M | $786.0M+12.1% | $701.2M-43.1% | $1.2B-9.1% | $1.4B+63.9% | $827.6M+93.2% | $428.4M+6.3% | $403.1M+81.8% | $221.7M-3.7% | $230.1M-13.0% | $264.6M+6.2% | $249.0M+7.9% | $230.9M+39.6% | $165.4M+2.5% | $161.4M+34.0% | $120.5M |
| Gross Profit | $619.2M | $687.0M+9.2% | $629.1M-40.6% | $1.1B+8.6% | $974.6M+75.8% | $554.4M+60.2% | $346.0M+56.4% | $221.2M+134.3% | $94.4M+68.5% | $56.0M-3.4% | $58.0M-46.4% | $108.2M-4.3% | $113.0M+67.7% | $67.4M+21.9% | $55.3M+90.2% | $29.1M |
| R&D Expenses | $183.8M | $189.1M-6.1% | $201.3M-11.4% | $227.3M+34.6% | $168.8M+60.0% | $105.5M+88.7% | $55.9M+38.5% | $40.4M+23.9% | $32.6M-1.7% | $33.2M-34.6% | $50.7M-0.2% | $50.8M+12.0% | $45.4M+31.5% | $34.5M-3.0% | $35.6M+41.8% | $25.1M |
| SG&A Expenses | $135.0M | $135.8M+3.8% | $130.8M-5.1% | $137.8M-1.5% | $140.0M+34.5% | $104.1M+105.3% | $50.7M+30.6% | $38.8M+33.4% | $29.1M+30.9% | $22.2M-19.0% | $27.4M-11.1% | $30.8M-0.8% | $31.1M+29.7% | $24.0M-3.6% | $24.9M+63.4% | $15.2M |
| Operating Income | $96.0M | $157.5M+103.8% | $77.3M-82.7% | $445.7M-0.6% | $448.3M+107.7% | $215.8M+15.8% | $186.4M+81.5% | $102.7M+6336.7% | $1.6M+104.1% | -$39.4M+37.2% | -$62.7M | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $3.1M | $4.5M-49.2% | $8.9M+0.7% | $8.8M-6.3% | $9.4M-79.1% | $45.2M+115.0% | $21.0M+116.7% | $9.7M-9.4% | $10.7M+30.2% | $8.2M+196.1% | $2.8M+453.5% | $501K-73.1% | $1.9M-9.3% | $2.1M-68.1% | $6.4M+114.1% | $3.0M |
| Income Tax | $9.1M | $32.7M+86.7% | $17.5M-76.4% | $74.2M+35.7% | $54.7M+323.0% | -$24.5M-68.1% | -$14.6M+79.5% | -$71.0M-5181.1% | $1.4M+1038.3% | -$149K-110.1% | $1.5M+7.0% | $1.4M+80.0% | $766K-11.2% | $863K+32.6% | $651K | $0 |
| Net Income | $135.0M | $172.1M+67.7% | $102.7M-76.6% | $438.9M+10.5% | $397.4M+173.2% | $145.4M+8.5% | $134.0M-16.8% | $161.1M+1486.0% | -$11.6M+74.3% | -$45.2M+33.0% | -$67.5M-205.5% | -$22.1M-174.2% | -$8.1M+68.9% | -$25.9M+32.2% | -$38.2M-18.4% | -$32.3M |
| EPS (Diluted) | — | $1.29+72.0% | $0.75-75.6% | $3.08+11.2% | $2.77+171.6% | $1.02+7.4% | $0.95-22.8% | $1.23+1125.0% | -$0.12+77.8% | -$0.54 | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ENPH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5B+8.0% | $3.2B-3.9% | $3.4B+9.7% | $3.1B+48.3% | $2.1B+73.3% | $1.2B+68.3% | $713.2M+109.8% | $339.9M+101.0% | $169.1M+3.4% | $163.6M-1.2% | $165.5M+8.8% | $152.2M+30.4% | $116.7M-4.6% | $122.3M+15.1% | $106.2M |
| Current Assets | $2.6B+12.0% | $2.3B-4.8% | $2.4B+7.9% | $2.3B+54.8% | $1.5B+56.7% | $933.1M+86.7% | $499.7M+124.8% | $222.3M+70.4% | $130.4M+10.7% | $117.9M-3.2% | $121.8M+6.0% | $114.9M+26.9% | $90.5M-4.7% | $95.0M+16.2% | $81.8M |
| Cash & Equivalents | $474.3M+28.5% | $369.1M+27.8% | $288.7M-39.0% | $473.2M+296.6% | $119.3M-82.4% | $679.4M+170.2% | $251.4M+136.6% | $106.2M+264.5% | $29.1M+64.1% | $17.8M-37.6% | $28.5M-32.3% | $42.0M+10.1% | $38.2M-15.7% | $45.3M-12.1% | $51.5M |
| Inventory | $288.0M+74.6% | $165.0M-22.7% | $213.6M+42.7% | $149.7M+101.2% | $74.4M+78.1% | $41.8M+30.3% | $32.1M+97.1% | $16.3M-37.4% | $26.0M-18.7% | $32.0M-21.7% | $40.8M+89.0% | $21.6M+30.2% | $16.6M-16.4% | $19.8M+76.7% | $11.2M |
| Accounts Receivable | $229.9M+2.7% | $223.7M-49.8% | $446.0M+1.1% | $440.9M+32.2% | $333.6M+83.1% | $182.2M+25.3% | $145.4M+84.2% | $78.9M+20.8% | $65.3M+7.1% | $61.0M+32.4% | $46.1M+2.2% | $45.1M+40.6% | $32.1M+15.6% | $27.7M+56.1% | $17.8M |
| Goodwill | $214.8M+1.5% | $211.6M-1.4% | $214.6M+0.5% | $213.6M+17.8% | $181.3M+631.4% | $24.8M0.0% | $24.8M0.0% | $24.8M+576.4% | $3.7M0.0% | $3.7M-2.2% | $3.7M0.0% | $3.7M | $0 | N/A | N/A |
| Total Liabilities | $2.4B+0.3% | $2.4B+0.7% | $2.4B+6.2% | $2.3B+37.0% | $1.6B+130.3% | $716.1M+62.4% | $441.0M+32.8% | $332.2M+86.3% | $178.3M+9.9% | $162.3M+30.8% | $124.1M+17.9% | $105.2M+37.6% | $76.5M+16.5% | $65.6M-28.9% | $92.3M |
| Current Liabilities | $1.3B+91.2% | $660.1M+24.0% | $532.4M-16.6% | $638.2M+45.1% | $439.8M-17.6% | $534.0M+167.9% | $199.3M+35.4% | $147.2M+60.4% | $91.7M+10.8% | $82.8M+13.6% | $72.8M+24.1% | $58.7M+76.0% | $33.4M-1.4% | $33.9M-35.4% | $52.4M |
| 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-95.2% | $102.7M+25.8% | $81.6M+152.5% | $32.3M+55.6% | $20.8M | $0 | $0-100.0% | $8.7M0.0% | $8.7M-14.5% | $10.1M |
| Total Equity | $1.1B+30.5% | $833.0M-15.3% | $983.6M+19.1% | $825.6M+91.9% | $430.2M-11.1% | $484.0M+77.8% | $272.2M+3400.7% | $7.8M+185.2% | -$9.1M-802.0% | $1.3M-96.9% | $41.4M-11.7% | $47.0M+16.8% | $40.2M-29.0% | $56.7M+305.4% | $14.0M |
| Retained Earnings | -$203.9M+16.8% | -$245.2M-629.9% | $46.3M+166.9% | $17.3M+104.3% | -$405.7M-692.7% | -$51.2M+72.4% | -$185.2M+46.5% | -$346.3M-17.1% | -$295.7M-18.0% | -$250.5M-36.8% | -$183.1M-13.7% | -$161.0M-5.3% | -$152.9M-20.4% | -$127.0M-43.0% | -$88.8M |
ENPH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $191.0M | $136.5M-73.4% | $513.7M-26.3% | $696.8M-6.4% | $744.8M+111.6% | $352.0M+62.7% | $216.3M+55.6% | $139.1M+762.1% | $16.1M+156.7% | -$28.4M+13.7% | -$33.0M-55.7% | -$21.2M-187.4% | $24.2M+2877.8% | -$872K+98.0% | -$44.6M-12064.9% | -$367K |
| Capital Expenditures | $45.9M | $40.6M+20.9% | $33.6M-69.6% | $110.4M+137.7% | $46.4M-11.1% | $52.3M+154.2% | $20.6M+39.0% | $14.8M+256.3% | $4.2M+0.7% | $4.1M-66.1% | $12.2M-2.9% | $12.5M-5.5% | $13.2M+111.7% | $6.3M-51.8% | $13.0M-11.4% | $14.7M |
| Free Cash Flow | $145.1M | $95.9M-80.0% | $480.1M-18.1% | $586.4M-16.0% | $698.4M+133.0% | $299.8M+53.1% | $195.8M+57.5% | $124.3M+937.3% | $12.0M+136.8% | -$32.6M+27.8% | -$45.1M-33.9% | -$33.7M-407.0% | $11.0M+253.9% | -$7.1M+87.6% | -$57.6M-283.5% | -$15.0M |
| Investing Cash Flow | $570.1M | $106.8M-16.7% | $128.3M+135.0% | -$366.4M+1.5% | -$371.9M+69.5% | -$1.2B-4669.8% | -$25.6M-72.9% | -$14.8M+22.8% | -$19.2M-364.7% | -$4.1M+65.1% | -$11.8M+5.4% | -$12.5M+24.6% | -$16.5M-164.2% | -$6.3M+51.8% | -$13.0M+11.4% | -$14.7M |
| Financing Cash Flow | -$678.6M | -$241.6M+47.5% | -$460.3M+10.9% | -$516.8M-2917.5% | -$17.1M-105.5% | $309.4M+61.4% | $191.7M+191.1% | $65.8M-18.3% | $80.6M+86.2% | $43.3M+26.0% | $34.4M+67.2% | $20.6M+715.3% | -$3.3M-5662.1% | -$58K-100.1% | $51.4M+94.2% | $26.5M |
| Share Buybacks | $30.0M | $130.0M-66.8% | $391.4M-4.5% | $410.0M | $0-100.0% | $500.0M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ENPH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.6%-0.7pp | 47.3%+1.1pp | 46.2%+4.4pp | 41.8%+1.7pp | 40.1%-4.6pp | 44.7%+9.2pp | 35.4%+5.6pp | 29.9%+10.3pp | 19.6%+1.6pp | 18.0%-12.3pp | 30.3%-2.6pp | 32.9%+3.9pp | 28.9%+3.4pp | 25.5%+6.1pp | 19.4% |
| Operating Margin | 10.7%+4.9pp | 5.8%-13.7pp | 19.5%+0.2pp | 19.2%+3.6pp | 15.6%-8.4pp | 24.1%+7.6pp | 16.4%+16.0pp | 0.5%+14.3pp | -13.8%+5.7pp | -19.4% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 11.7%+4.0pp | 7.7%-11.4pp | 19.2%+2.1pp | 17.1%+6.5pp | 10.5%-6.8pp | 17.3%-8.5pp | 25.8%+29.5pp | -3.7%+12.1pp | -15.8%+5.1pp | -20.9%-14.7pp | -6.2%-3.8pp | -2.3%+8.8pp | -11.1%+6.5pp | -17.6%+4.0pp | -21.6% |
| 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%-31.5pp | 59.2%+208.7pp | -149.5% | N/A | -5189.4%-5136.1pp | -53.3%-36.1pp | -17.2%+47.3pp | -64.5%+3.0pp | -67.5%+163.6pp | -231.1% |
| 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%-11.4pp | 22.6%+26.0pp | -3.4%+23.3pp | -26.7%+14.5pp | -41.2%-27.9pp | -13.3%-8.0pp | -5.3%+16.9pp | -22.2%+9.0pp | -31.3%-0.9pp | -30.4% |
| Current Ratio | 2.07-1.5x | 3.53-1.1x | 4.59+1.0x | 3.55+0.2x | 3.33+1.6x | 1.75-0.8x | 2.51+1.0x | 1.51+0.1x | 1.420.0x | 1.42-0.2x | 1.67-0.3x | 1.96-0.8x | 2.71-0.1x | 2.81+1.2x | 1.56 |
| Debt-to-Equity | 0.53-0.9x | 1.44+0.1x | 1.32-0.1x | 1.45-0.8x | 2.21+2.2x | 0.01-0.4x | 0.38-10.1x | 10.50 | N/A | 15.98+16.0x | 0.000.0x | 0.00-0.2x | 0.22+0.1x | 0.15-0.6x | 0.73 |
| FCF Margin | 6.5%-29.6pp | 36.1%+10.5pp | 25.6%-4.4pp | 30.0%+8.3pp | 21.7%-3.6pp | 25.3%+5.4pp | 19.9%+16.1pp | 3.8%+15.2pp | -11.4%+2.6pp | -14.0%-4.6pp | -9.4%-12.6pp | 3.2%+6.3pp | -3.1%+23.5pp | -26.6%-16.6pp | -10.1% |
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Where Enphase Energy Ranks
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.
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 2.21, 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 to 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 34.84x, 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 57 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.