ENPH
Enphase Energy Inc
NASDAQ: ENPH · TECHNOLOGY · SOLAR
$31.19
-9.07% today
Updated 2026-04-29
Market cap
$4.11B
P/E ratio
30.88
P/S ratio
2.79x
EPS (TTM)
$1.01
Dividend yield
—
52W range
$26 – $54
Volume
5.9M
Enphase Energy Inc (ENPH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.67M | $20.19M | $61.66M | $149.52M | $216.68M | $232.85M | $343.90M | $357.25M | $322.59M | $286.17M | $316.16M | $624.33M | $774.42M | $1.38B | $2.33B | $2.29B | $1.33B | $1.47B |
| Revenue growth (YoY) | — | +1110.7% | +205.3% | +142.5% | +44.9% | +7.5% | +47.7% | +3.9% | -9.7% | -11.3% | +10.5% | +97.5% | +24.0% | +78.5% | +68.7% | -1.7% | -41.9% | +10.7% |
| Cost of revenue | $7.47M | $23.22M | $55.16M | $120.45M | $161.39M | $165.43M | $230.86M | $249.03M | $264.58M | $230.12M | $221.71M | $403.09M | $428.44M | $827.63M | $1.36B | $1.23B | $701.25M | $785.98M |
| Gross profit | $-5.81M | $-3.03M | $6.50M | $29.07M | $55.29M | $67.42M | $113.04M | $108.22M | $58.01M | $56.04M | $94.44M | $221.25M | $345.98M | $554.42M | $974.60M | $1.06B | $629.14M | $687.00M |
| Gross margin | -348.1% | -15.0% | 10.5% | 19.4% | 25.5% | 29.0% | 32.9% | 30.3% | 18.0% | 19.6% | 29.9% | 35.4% | 44.7% | 40.1% | 41.8% | 46.2% | 47.3% | 46.6% |
| R&D | $5.35M | $8.41M | $14.30M | $25.10M | $35.60M | $34.52M | $45.39M | $50.82M | $50.70M | $33.16M | $32.59M | $40.38M | $55.92M | $105.53M | $168.85M | $227.34M | $201.31M | $189.07M |
| SG&A | — | $2.60M | $6.37M | $15.23M | $24.88M | $23.97M | $31.08M | $30.83M | $27.42M | $22.22M | $29.09M | $38.81M | $50.69M | $104.09M | $140.00M | $137.84M | $130.82M | $135.77M |
| Operating income | $-14.70M | $-16.69M | $-20.72M | $-28.71M | $-31.16M | $-22.16M | $-4.43M | $-19.31M | $-62.70M | $-39.38M | $1.60M | $102.73M | $186.44M | $215.83M | $448.26M | $445.74M | $77.29M | $164.66M |
| Operating margin | -881.1% | -82.7% | -33.6% | -19.2% | -14.4% | -9.5% | -1.3% | -5.4% | -19.4% | -13.8% | 0.5% | 16.5% | 24.1% | 15.6% | 19.2% | 19.5% | 5.8% | 11.2% |
| EBITDA | $-14.16M | $-15.89M | $-19.31M | $-26.25M | $-25.56M | $-16.01M | $2.84M | $-9.66M | $-52.58M | $-28.13M | $10.13M | $113.92M | $158.51M | $196.93M | $520.26M | $445.74M | $210.45M | $289.98M |
| EBITDA margin | -848.9% | -78.7% | -31.3% | -17.6% | -11.8% | -6.9% | 0.8% | -2.7% | -16.3% | -9.8% | 3.2% | 18.2% | 20.5% | 14.2% | 22.3% | 19.5% | 15.8% | 19.7% |
| EBIT | $-14.49M | $-16.69M | $-20.86M | $-29.28M | $-31.13M | $-23.00M | $-5.42M | $-20.20M | $-63.21M | $-37.13M | $464000.00 | $99.81M | $140.41M | $166.08M | $461.49M | $445.74M | $129.06M | $209.34M |
| Interest expense | $9000.00 | $356000.00 | $914000.00 | $3.01M | $6.44M | $2.06M | $1.86M | $501000.00 | $2.77M | $7.94M | $9.63M | $9.69M | $21.00M | $45.15M | $9.44M | $8.84M | $8.90M | $4.52M |
| Income tax | — | $16.93M | $21.78M | $32.29M | $651000.00 | $863000.00 | $766000.00 | $1.38M | $1.48M | $-149000.00 | $1.40M | $-71.03M | $-14.59M | $-24.52M | $54.69M | $-74.20M | $17.50M | $32.68M |
| Effective tax rate | 0.0% | — | — | — | -1.7% | -3.4% | -10.5% | -6.7% | -2.2% | 0.3% | -13.7% | -78.8% | -12.2% | -20.3% | 12.1% | -20.3% | 14.6% | 16.0% |
| Net income | $-14.50M | $-16.93M | $-21.78M | $-32.29M | $-38.22M | $-25.91M | $-8.05M | $-22.08M | $-67.46M | $-45.19M | $-11.63M | $161.15M | $134.00M | $145.45M | $397.36M | $438.94M | $102.66M | $172.13M |
| Net income growth (YoY) | — | -16.7% | -28.7% | -48.3% | -18.4% | +32.2% | +68.9% | -174.2% | -205.5% | +33.0% | +74.3% | +1486.0% | -16.8% | +8.5% | +173.2% | +10.5% | -76.6% | +67.7% |
| Profit margin | -869.4% | -83.8% | -35.3% | -21.6% | -17.6% | -11.1% | -2.3% | -6.2% | -20.9% | -15.8% | -3.7% | 25.8% | 17.3% | 10.5% | 17.0% | 19.2% | 7.7% | 11.7% |