ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis

NASDAQ:ENPH • US29355A1079

45.64 USD
+2.15 (+4.94%)
At close: Feb 17, 2026
45.8 USD
+0.16 (+0.35%)
After Hours: 2/17/2026, 5:41:21 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Taking everything into account, ENPH scores 4 out of 10 in our fundamental rating. ENPH was compared to 113 industry peers in the Semiconductors & Semiconductor Equipment industry. ENPH has a medium profitability rating, but doesn't score so well on its financial health evaluation. ENPH has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year ENPH was profitable.
  • ENPH had a positive operating cash flow in the past year.
  • In the past 5 years ENPH has always been profitable.
  • In the past 5 years ENPH always reported a positive cash flow from operatings.
ENPH Yearly Net Income VS EBIT VS OCF VS FCFENPH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M

1.2 Ratios

  • With a decent Return On Assets value of 4.90%, ENPH is doing good in the industry, outperforming 65.49% of the companies in the same industry.
  • ENPH's Return On Equity of 15.84% is fine compared to the rest of the industry. ENPH outperforms 79.65% of its industry peers.
  • With a decent Return On Invested Capital value of 6.56%, ENPH is doing good in the industry, outperforming 71.68% of the companies in the same industry.
  • ENPH had an Average Return On Invested Capital over the past 3 years of 7.63%. This is below the industry average of 10.70%.
Industry RankSector Rank
ROA 4.9%
ROE 15.84%
ROIC 6.56%
ROA(3y)7.01%
ROA(5y)8.18%
ROE(3y)24.26%
ROE(5y)30.94%
ROIC(3y)7.63%
ROIC(5y)10%
ENPH Yearly ROA, ROE, ROICENPH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -1K -2K -3K -4K -5K

1.3 Margins

  • The Profit Margin of ENPH (11.69%) is better than 65.49% of its industry peers.
  • ENPH's Profit Margin has declined in the last couple of years.
  • The Operating Margin of ENPH (11.82%) is better than 67.26% of its industry peers.
  • ENPH's Operating Margin has declined in the last couple of years.
  • The Gross Margin of ENPH (47.28%) is comparable to the rest of the industry.
  • ENPH's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 11.82%
PM (TTM) 11.69%
GM 47.28%
OM growth 3Y-16.85%
OM growth 5Y-14.22%
PM growth 3Y-11.83%
PM growth 5Y-7.55%
GM growth 3Y3.71%
GM growth 5Y0.86%
ENPH Yearly Profit, Operating, Gross MarginsENPH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ENPH is destroying 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 has been reduced compared to a year ago.
ENPH Yearly Shares OutstandingENPH Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
ENPH Yearly Total Debt VS Total AssetsENPH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

2.2 Solvency

  • ENPH has a debt to FCF ratio of 12.56. This is a negative value and a sign of low solvency as ENPH would need 12.56 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 12.56, ENPH is in line with its industry, outperforming 46.90% of the companies in the same industry.
  • A Debt/Equity ratio of 0.53 indicates that ENPH is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.53, ENPH is doing worse than 69.03% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 12.56
Altman-Z N/A
ROIC/WACC0.62
WACC10.62%
ENPH Yearly LT Debt VS Equity VS FCFENPH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B

2.3 Liquidity

  • ENPH has a Current Ratio of 2.07. This indicates that ENPH is financially healthy and has no problem in meeting its short term obligations.
  • ENPH has a Current ratio of 2.07. This is in the lower half of the industry: ENPH underperforms 73.45% of its industry peers.
  • ENPH has a Quick Ratio of 1.84. 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 of 1.84. This is in the lower half of the industry: ENPH underperforms 60.18% of its industry peers.
Industry RankSector Rank
Current Ratio 2.07
Quick Ratio 1.84
ENPH Yearly Current Assets VS Current LiabilitesENPH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 25.74% over the past year.
  • The Earnings Per Share has been growing by 16.99% on average over the past years. This is quite good.
  • The Revenue has grown by 10.72% in the past year. This is quite good.
  • ENPH shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.72% yearly.
EPS 1Y (TTM)25.74%
EPS 3Y-13.6%
EPS 5Y16.99%
EPS Q2Q%-24.47%
Revenue 1Y (TTM)10.72%
Revenue growth 3Y-14.19%
Revenue growth 5Y13.72%
Sales Q2Q%-10.29%

3.2 Future

  • Based on estimates for the next years, ENPH will show a small growth in Earnings Per Share. The EPS will grow by 5.89% on average per year.
  • Based on estimates for the next years, ENPH will show a small growth in Revenue. The Revenue will grow by 2.33% on average per year.
EPS Next Y-31.54%
EPS Next 2Y-7.61%
EPS Next 3Y0.07%
EPS Next 5Y5.89%
Revenue Next Year-18.72%
Revenue Next 2Y-5.29%
Revenue Next 3Y-3.44%
Revenue Next 5Y2.33%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ENPH Yearly Revenue VS EstimatesENPH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 500M 1B 1.5B 2B
ENPH Yearly EPS VS EstimatesENPH Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 1 -1 2 3 4

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • ENPH is valuated correctly with a Price/Earnings ratio of 15.32.
  • Compared to the rest of the industry, the Price/Earnings ratio of ENPH indicates a rather cheap valuation: ENPH is cheaper than 95.58% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.16, ENPH is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 22.37 indicates a rather expensive valuation of ENPH.
  • Based on the Price/Forward Earnings ratio, ENPH is valued cheaply inside the industry as 85.84% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 28.10. ENPH is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.32
Fwd PE 22.37
ENPH Price Earnings VS Forward Price EarningsENPH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ENPH is valued cheaper than 83.19% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ENPH indicates a somewhat cheap valuation: ENPH is cheaper than 64.60% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 62.28
EV/EBITDA 17.06
ENPH Per share dataENPH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.9
EPS Next 2Y-7.61%
EPS Next 3Y0.07%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • ENPH does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

ENPHASE ENERGY INC

NASDAQ:ENPH (2/17/2026, 5:41:21 PM)

After market: 45.8 +0.16 (+0.35%)

45.64

+2.15 (+4.94%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-03
Earnings (Next)04-20
Inst Owners95.36%
Inst Owner Change0.93%
Ins Owners3.12%
Ins Owner Change1.09%
Market Cap5.97B
Revenue(TTM)1.47B
Net Income(TTM)172.13M
Analysts65.37
Price Target39.93 (-12.51%)
Short Float %20.46%
Short Ratio3.49
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)27.98%
Min EPS beat(2)19.68%
Max EPS beat(2)36.27%
EPS beat(4)3
Avg EPS beat(4)14.93%
Min EPS beat(4)-5.07%
Max EPS beat(4)36.27%
EPS beat(8)4
Avg EPS beat(8)5.92%
EPS beat(12)6
Avg EPS beat(12)5.68%
EPS beat(16)10
Avg EPS beat(16)8.88%
Revenue beat(2)1
Avg Revenue beat(2)4.32%
Min Revenue beat(2)-1.18%
Max Revenue beat(2)9.81%
Revenue beat(4)1
Avg Revenue beat(4)1.09%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)9.81%
Revenue beat(8)1
Avg Revenue beat(8)-1.6%
Revenue beat(12)1
Avg Revenue beat(12)-2.77%
Revenue beat(16)5
Avg Revenue beat(16)-1.77%
PT rev (1m)2.14%
PT rev (3m)-7.76%
EPS NQ rev (1m)17.75%
EPS NQ rev (3m)8.81%
EPS NY rev (1m)-2.54%
EPS NY rev (3m)-5.37%
Revenue NQ rev (1m)6.88%
Revenue NQ rev (3m)2.96%
Revenue NY rev (1m)0.16%
Revenue NY rev (3m)-6.39%
Valuation
Industry RankSector Rank
PE 15.32
Fwd PE 22.37
P/S 4.05
P/FCF 62.28
P/OCF 43.74
P/B 5.49
P/tB 7.03
EV/EBITDA 17.06
EPS(TTM)2.98
EY6.53%
EPS(NY)2.04
Fwd EY4.47%
FCF(TTM)0.73
FCFY1.61%
OCF(TTM)1.04
OCFY2.29%
SpS11.26
BVpS8.31
TBVpS6.5
PEG (NY)N/A
PEG (5Y)0.9
Graham Number23.6
Profitability
Industry RankSector Rank
ROA 4.9%
ROE 15.84%
ROCE 7.74%
ROIC 6.56%
ROICexc 20.07%
ROICexgc 29.63%
OM 11.82%
PM (TTM) 11.69%
GM 47.28%
FCFM 6.51%
ROA(3y)7.01%
ROA(5y)8.18%
ROE(3y)24.26%
ROE(5y)30.94%
ROIC(3y)7.63%
ROIC(5y)10%
ROICexc(3y)20.25%
ROICexc(5y)27.37%
ROICexgc(3y)27.87%
ROICexgc(5y)42.37%
ROCE(3y)9%
ROCE(5y)11.8%
ROICexgc growth 3Y-27.59%
ROICexgc growth 5YN/A
ROICexc growth 3Y-25.59%
ROICexc growth 5YN/A
OM growth 3Y-16.85%
OM growth 5Y-14.22%
PM growth 3Y-11.83%
PM growth 5Y-7.55%
GM growth 3Y3.71%
GM growth 5Y0.86%
F-Score6
Asset Turnover0.42
Health
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 12.56
Debt/EBITDA 2.25
Cap/Depr 50.39%
Cap/Sales 2.76%
Interest Coverage 250
Cash Conversion 53.61%
Profit Quality 55.71%
Current Ratio 2.07
Quick Ratio 1.84
Altman-Z N/A
F-Score6
WACC10.62%
ROIC/WACC0.62
Cap/Depr(3y)79.82%
Cap/Depr(5y)96.08%
Cap/Sales(3y)3.37%
Cap/Sales(5y)3.18%
Profit Quality(3y)218.99%
Profit Quality(5y)207.74%
High Growth Momentum
Growth
EPS 1Y (TTM)25.74%
EPS 3Y-13.6%
EPS 5Y16.99%
EPS Q2Q%-24.47%
EPS Next Y-31.54%
EPS Next 2Y-7.61%
EPS Next 3Y0.07%
EPS Next 5Y5.89%
Revenue 1Y (TTM)10.72%
Revenue growth 3Y-14.19%
Revenue growth 5Y13.72%
Sales Q2Q%-10.29%
Revenue Next Year-18.72%
Revenue Next 2Y-5.29%
Revenue Next 3Y-3.44%
Revenue Next 5Y2.33%
EBIT growth 1Y92.44%
EBIT growth 3Y-28.65%
EBIT growth 5Y-2.45%
EBIT Next Year-10.72%
EBIT Next 3Y6.21%
EBIT Next 5Y11.18%
FCF growth 1Y-80.02%
FCF growth 3Y-48.41%
FCF growth 5Y-13.29%
OCF growth 1Y-73.42%
OCF growth 3Y-43.19%
OCF growth 5Y-8.79%

ENPHASE ENERGY INC / ENPH FAQ

What is the fundamental rating for ENPH stock?

ChartMill assigns a fundamental rating of 4 / 10 to ENPH.


What is the valuation status of ENPHASE ENERGY INC (ENPH) stock?

ChartMill assigns a valuation rating of 5 / 10 to ENPHASE ENERGY INC (ENPH). This can be considered as Fairly Valued.


What is the profitability of ENPH stock?

ENPHASE ENERGY INC (ENPH) has a profitability rating of 5 / 10.


What is the financial health of ENPHASE ENERGY INC (ENPH) stock?

The financial health rating of ENPHASE ENERGY INC (ENPH) is 3 / 10.