ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis
USA - NASDAQ:ENPH - US29355A1079 - Common Stock
30.51 USD
+0.38 (+1.26%)
30.4993 USD
-0.01 (-0.04%)
ENPH gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and the financial health of ENPH get a neutral evaluation. Nothing too spectacular is happening here. ENPH is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
In the past year ENPH was profitable.
ENPH had a positive operating cash flow in the past year.
Each year in the past 5 years ENPH has been profitable.
In the past 5 years ENPH always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 5.89%, ENPH is doing good in the industry, outperforming 72.32% of the companies in the same industry.
ENPH has a better Return On Equity (19.66%) than 85.71% of its industry peers.
ENPH has a better Return On Invested Capital (8.61%) than 76.79% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ENPH is in line with the industry average of 11.04%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.89% | ||
| ROE | 19.66% | ||
| ROIC | 8.61% |
ROA(3y)9.67%
ROA(5y)9.44%
ROE(3y)35.03%
ROE(5y)33.31%
ROIC(3y)10.89%
ROIC(5y)13.62%
1.3 Margins
With a decent Profit Margin value of 12.93%, ENPH is doing good in the industry, outperforming 72.32% of the companies in the same industry.
In the last couple of years the Profit Margin of ENPH has declined.
ENPH has a better Operating Margin (14.31%) than 71.43% of its industry peers.
In the last couple of years the Operating Margin of ENPH has declined.
Looking at the Gross Margin, with a value of 49.11%, ENPH is in line with its industry, outperforming 59.82% of the companies in the same industry.
In the last couple of years the Gross Margin of ENPH has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.31% | ||
| PM (TTM) | 12.93% | ||
| GM | 49.11% |
OM growth 3Y-24.77%
OM growth 5Y-16.62%
PM growth 3Y-9.82%
PM growth 5Y-21.45%
GM growth 3Y5.64%
GM growth 5Y5.94%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ENPH is creating some value.
The number of shares outstanding for ENPH has been reduced compared to 1 year ago.
Compared to 5 years ago, ENPH has more shares outstanding
The debt/assets ratio for ENPH is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.04 indicates that ENPH is not a great score, but indicates only limited risk for bankruptcy at the moment.
ENPH has a Altman-Z score of 2.04. This is in the lower half of the industry: ENPH underperforms 64.29% of its industry peers.
ENPH has a debt to FCF ratio of 5.54. This is a neutral value as ENPH would need 5.54 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.54, ENPH is in line with its industry, outperforming 57.14% of the companies in the same industry.
ENPH has a Debt/Equity ratio of 0.57. This is a neutral value indicating ENPH is somewhat dependend on debt financing.
ENPH has a worse Debt to Equity ratio (0.57) than 72.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Altman-Z | 2.04 |
ROIC/WACC0.82
WACC10.52%
2.3 Liquidity
ENPH has a Current Ratio of 2.04. This indicates that ENPH is financially healthy and has no problem in meeting its short term obligations.
ENPH has a Current ratio of 2.04. This is in the lower half of the industry: ENPH underperforms 69.64% of its industry peers.
ENPH has a Quick Ratio of 1.88. This is a normal value and indicates that ENPH is financially healthy and should not expect problems in meeting its short term obligations.
ENPH has a Quick ratio (1.88) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 62.94% over the past year.
The Earnings Per Share has been growing by 20.06% on average over the past years. This is a very strong growth
The Revenue has grown by 20.97% in the past year. This is a very strong growth!
Measured over the past years, ENPH shows a quite strong growth in Revenue. The Revenue has been growing by 16.34% on average per year.
EPS 1Y (TTM)62.94%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%38.46%
Revenue 1Y (TTM)20.97%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%7.76%
3.2 Future
The Earnings Per Share is expected to grow by 10.53% on average over the next years. This is quite good.
Based on estimates for the next years, ENPH will show a small growth in Revenue. The Revenue will grow by 5.14% on average per year.
EPS Next Y15.7%
EPS Next 2Y0.23%
EPS Next 3Y5.55%
EPS Next 5Y10.53%
Revenue Next Year11.08%
Revenue Next 2Y1.32%
Revenue Next 3Y3.52%
Revenue Next 5Y5.14%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 9.50, the valuation of ENPH can be described as reasonable.
Based on the Price/Earnings ratio, ENPH is valued cheaper than 99.11% of the companies in the same industry.
ENPH's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.11.
A Price/Forward Earnings ratio of 12.81 indicates a correct valuation of ENPH.
97.32% of the companies in the same industry are more expensive than ENPH, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of ENPH to the average of the S&P500 Index (22.55), we can say ENPH is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 12.81 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, ENPH is valued cheaply inside the industry as 93.75% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, ENPH is valued cheaply inside the industry as 89.29% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.36 | ||
| EV/EBITDA | 8.87 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ENPH has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.61
PEG (5Y)0.47
EPS Next 2Y0.23%
EPS Next 3Y5.55%
5. Dividend
5.1 Amount
ENPH does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
30.51
+0.38 (+1.26%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners96.21%
Inst Owner Change-5.93%
Ins Owners3.13%
Ins Owner Change0.18%
Market Cap3.99B
Revenue(TTM)1.51B
Net Income(TTM)195.58M
Analysts63.72
Price Target43.28 (41.86%)
Short Float %21.56%
Short Ratio3.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.83%
Min EPS beat(2)8.83%
Max EPS beat(2)36.83%
EPS beat(4)3
Avg EPS beat(4)16.98%
Min EPS beat(4)-5.07%
Max EPS beat(4)36.83%
EPS beat(8)3
Avg EPS beat(8)3.02%
EPS beat(12)6
Avg EPS beat(12)5.66%
EPS beat(16)10
Avg EPS beat(16)9.16%
Revenue beat(2)1
Avg Revenue beat(2)4.49%
Min Revenue beat(2)-1.01%
Max Revenue beat(2)10%
Revenue beat(4)1
Avg Revenue beat(4)1.27%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)10%
Revenue beat(8)1
Avg Revenue beat(8)-2.62%
Revenue beat(12)2
Avg Revenue beat(12)-2.6%
Revenue beat(16)6
Avg Revenue beat(16)-1.56%
PT rev (1m)1.06%
PT rev (3m)-14.64%
EPS NQ rev (1m)1.88%
EPS NQ rev (3m)3.43%
EPS NY rev (1m)1.65%
EPS NY rev (3m)9.58%
Revenue NQ rev (1m)-0.33%
Revenue NQ rev (3m)0.95%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 12.81 | ||
| P/S | 2.64 | ||
| P/FCF | 18.36 | ||
| P/OCF | 15.57 | ||
| P/B | 4.01 | ||
| P/tB | 5.3 | ||
| EV/EBITDA | 8.87 |
EPS(TTM)3.21
EY10.52%
EPS(NY)2.38
Fwd EY7.8%
FCF(TTM)1.66
FCFY5.45%
OCF(TTM)1.96
OCFY6.42%
SpS11.57
BVpS7.61
TBVpS5.76
PEG (NY)0.61
PEG (5Y)0.47
Graham Number23.44
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.89% | ||
| ROE | 19.66% | ||
| ROCE | 10.07% | ||
| ROIC | 8.61% | ||
| ROICexc | 27.56% | ||
| ROICexgc | 43.07% | ||
| OM | 14.31% | ||
| PM (TTM) | 12.93% | ||
| GM | 49.11% | ||
| FCFM | 14.37% |
ROA(3y)9.67%
ROA(5y)9.44%
ROE(3y)35.03%
ROE(5y)33.31%
ROIC(3y)10.89%
ROIC(5y)13.62%
ROICexc(3y)29.55%
ROICexc(5y)N/A
ROICexgc(3y)43.52%
ROICexgc(5y)N/A
ROCE(3y)12.74%
ROCE(5y)15.93%
ROICexgc growth 3Y-41.75%
ROICexgc growth 5Y-24.25%
ROICexc growth 3Y-35.85%
ROICexc growth 5Y-25.26%
OM growth 3Y-24.77%
OM growth 5Y-16.62%
PM growth 3Y-9.82%
PM growth 5Y-21.45%
GM growth 3Y5.64%
GM growth 5Y5.94%
F-Score8
Asset Turnover0.46
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Debt/EBITDA | 1.92 | ||
| Cap/Depr | 48.17% | ||
| Cap/Sales | 2.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 86.18% | ||
| Profit Quality | 111.1% | ||
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 2.04 |
F-Score8
WACC10.52%
ROIC/WACC0.82
Cap/Depr(3y)89.33%
Cap/Depr(5y)108.77%
Cap/Sales(3y)3.11%
Cap/Sales(5y)3.16%
Profit Quality(3y)259%
Profit Quality(5y)225.8%
High Growth Momentum
Growth
EPS 1Y (TTM)62.94%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%38.46%
EPS Next Y15.7%
EPS Next 2Y0.23%
EPS Next 3Y5.55%
EPS Next 5Y10.53%
Revenue 1Y (TTM)20.97%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%7.76%
Revenue Next Year11.08%
Revenue Next 2Y1.32%
Revenue Next 3Y3.52%
Revenue Next 5Y5.14%
EBIT growth 1Y602.21%
EBIT growth 3Y-25.72%
EBIT growth 5Y-3%
EBIT Next Year52.77%
EBIT Next 3Y13.38%
EBIT Next 5Y16.15%
FCF growth 1Y-73.12%
FCF growth 3Y17.03%
FCF growth 5Y31.03%
OCF growth 1Y-71.99%
OCF growth 3Y13.43%
OCF growth 5Y29.86%
ENPHASE ENERGY INC / ENPH FAQ
What is the ChartMill fundamental rating of ENPHASE ENERGY INC (ENPH) stock?
ChartMill assigns a fundamental rating of 5 / 10 to ENPH.
Can you provide the valuation status for ENPHASE ENERGY INC?
ChartMill assigns a valuation rating of 8 / 10 to ENPHASE ENERGY INC (ENPH). This can be considered as Undervalued.
What is the profitability of ENPH stock?
ENPHASE ENERGY INC (ENPH) has a profitability rating of 6 / 10.
Can you provide the financial health for ENPH stock?
The financial health rating of ENPHASE ENERGY INC (ENPH) is 4 / 10.