ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis
USA - NASDAQ:ENPH - US29355A1079 - Common Stock
36.27 USD
-0.89 (-2.4%)
36.29 USD
+0.02 (+0.06%)
Overall ENPH gets a fundamental rating of 5 out of 10. We evaluated ENPH 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 scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
ENPH had positive earnings in the past year.
In the past year ENPH had a positive cash flow from operations.
Each year in the past 5 years ENPH has been profitable.
ENPH had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 5.50%, ENPH is doing good in the industry, outperforming 71.43% of the companies in the same industry.
With an excellent Return On Equity value of 19.84%, ENPH belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
ENPH has a better Return On Invested Capital (8.14%) than 75.89% 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 10.95%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.5% | ||
| ROE | 19.84% | ||
| ROIC | 8.14% |
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
ENPH has a Profit Margin of 11.78%. This is in the better half of the industry: ENPH outperforms 71.43% of its industry peers.
ENPH's Profit Margin has declined in the last couple of years.
The Operating Margin of ENPH (12.94%) is better than 70.54% of its industry peers.
ENPH's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 48.35%, ENPH is in line with its industry, outperforming 58.93% of the companies in the same industry.
ENPH's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.94% | ||
| PM (TTM) | 11.78% | ||
| GM | 48.35% |
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
ENPH has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, ENPH has less shares outstanding
The number of shares outstanding for ENPH has been increased compared to 5 years ago.
ENPH has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.22 indicates that ENPH is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of ENPH (2.22) is worse than 65.18% of its industry peers.
The Debt to FCF ratio of ENPH is 3.22, which is a good value as it means it would take ENPH, 3.22 years of fcf income to pay off all of its debts.
ENPH has a Debt to FCF ratio of 3.22. This is in the better half of the industry: ENPH outperforms 62.50% of its industry peers.
A Debt/Equity ratio of 0.65 indicates that ENPH is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.65, ENPH is doing worse than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | 3.22 | ||
| Altman-Z | 2.22 |
ROIC/WACC0.77
WACC10.57%
2.3 Liquidity
ENPH has a Current Ratio of 1.97. 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 Current ratio of 1.97. This is in the lower half of the industry: ENPH underperforms 70.54% of its industry peers.
A Quick Ratio of 1.82 indicates that ENPH should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.82, ENPH perfoms like the industry average, outperforming 41.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.97 | ||
| Quick Ratio | 1.82 |
3. Growth
3.1 Past
ENPH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.50%, which is quite impressive.
ENPH shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.06% yearly.
Looking at the last year, ENPH shows a small growth in Revenue. The Revenue has grown by 4.39% in the last year.
The Revenue has been growing by 16.34% on average over the past years. This is quite good.
EPS 1Y (TTM)26.5%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%60.47%
Revenue 1Y (TTM)4.39%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%19.67%
3.2 Future
The Earnings Per Share is expected to grow by 10.53% on average over the next years. This is quite good.
ENPH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.14% yearly.
EPS Next Y13.82%
EPS Next 2Y0.18%
EPS Next 3Y4.77%
EPS Next 5Y10.53%
Revenue Next Year11%
Revenue Next 2Y1.54%
Revenue Next 3Y2.85%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 12.25, ENPH is valued correctly.
ENPH's Price/Earnings ratio is rather cheap when compared to the industry. ENPH is cheaper than 98.21% 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 27.76.
A Price/Forward Earnings ratio of 15.25 indicates a correct valuation of ENPH.
92.86% of the companies in the same industry are more expensive than ENPH, based on the Price/Forward Earnings ratio.
ENPH's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.21.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.25 | ||
| Fwd PE | 15.25 |
4.2 Price Multiples
86.61% of the companies in the same industry are more expensive than ENPH, based on the Enterprise Value to EBITDA ratio.
ENPH's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ENPH is cheaper than 96.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.71 | ||
| EV/EBITDA | 12.37 |
4.3 Compensation for Growth
ENPH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of ENPH may justify a higher PE ratio.
PEG (NY)0.89
PEG (5Y)0.61
EPS Next 2Y0.18%
EPS Next 3Y4.77%
5. Dividend
5.1 Amount
No dividends for ENPH!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
36.27
-0.89 (-2.4%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners96.21%
Inst Owner Change0%
Ins Owners3.13%
Ins Owner Change0.18%
Market Cap4.74B
Analysts63.72
Price Target42.94 (18.39%)
Short Float %20.07%
Short Ratio2.83
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)1
Avg EPS beat(2)1.88%
Min EPS beat(2)-5.07%
Max EPS beat(2)8.83%
EPS beat(4)2
Avg EPS beat(4)3.56%
Min EPS beat(4)-16.87%
Max EPS beat(4)27.34%
EPS beat(8)2
Avg EPS beat(8)-1.74%
EPS beat(12)6
Avg EPS beat(12)3.72%
EPS beat(16)10
Avg EPS beat(16)8.23%
Revenue beat(2)0
Avg Revenue beat(2)-2.14%
Min Revenue beat(2)-3.27%
Max Revenue beat(2)-1.01%
Revenue beat(4)0
Avg Revenue beat(4)-2.42%
Min Revenue beat(4)-4.77%
Max Revenue beat(4)-0.64%
Revenue beat(8)0
Avg Revenue beat(8)-4.44%
Revenue beat(12)2
Avg Revenue beat(12)-3.34%
Revenue beat(16)6
Avg Revenue beat(16)-2.16%
PT rev (1m)0.85%
PT rev (3m)-19.3%
EPS NQ rev (1m)0.56%
EPS NQ rev (3m)7.12%
EPS NY rev (1m)0.42%
EPS NY rev (3m)9.18%
Revenue NQ rev (1m)0.77%
Revenue NQ rev (3m)-0.91%
Revenue NY rev (1m)0.33%
Revenue NY rev (3m)0.8%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.25 | ||
| Fwd PE | 15.25 | ||
| P/S | 3.2 | ||
| P/FCF | 12.71 | ||
| P/OCF | 11.5 | ||
| P/B | 5.39 | ||
| P/tB | 7.49 | ||
| EV/EBITDA | 12.37 |
EPS(TTM)2.96
EY8.16%
EPS(NY)2.38
Fwd EY6.56%
FCF(TTM)2.85
FCFY7.87%
OCF(TTM)3.15
OCFY8.7%
SpS11.34
BVpS6.74
TBVpS4.84
PEG (NY)0.89
PEG (5Y)0.61
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.5% | ||
| ROE | 19.84% | ||
| ROCE | 9.52% | ||
| ROIC | 8.14% | ||
| ROICexc | 33.75% | ||
| ROICexgc | 68.71% | ||
| OM | 12.94% | ||
| PM (TTM) | 11.78% | ||
| GM | 48.35% | ||
| FCFM | 25.16% |
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%
ROICexcg growth 3Y-41.75%
ROICexcg 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 Turnover0.47
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | 3.22 | ||
| Debt/EBITDA | 2.1 | ||
| Cap/Depr | 48.86% | ||
| Cap/Sales | 2.66% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 151.28% | ||
| Profit Quality | 213.51% | ||
| Current Ratio | 1.97 | ||
| Quick Ratio | 1.82 | ||
| Altman-Z | 2.22 |
F-Score8
WACC10.57%
ROIC/WACC0.77
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)26.5%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%60.47%
EPS Next Y13.82%
EPS Next 2Y0.18%
EPS Next 3Y4.77%
EPS Next 5Y10.53%
Revenue 1Y (TTM)4.39%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%19.67%
Revenue Next Year11%
Revenue Next 2Y1.54%
Revenue Next 3Y2.85%
Revenue Next 5Y5.14%
EBIT growth 1Y95.08%
EBIT growth 3Y-25.72%
EBIT growth 5Y-3%
EBIT Next Year52.77%
EBIT Next 3Y13.38%
EBIT Next 5Y16.15%
FCF growth 1Y-56.9%
FCF growth 3Y17.03%
FCF growth 5Y31.03%
OCF growth 1Y-56.91%
OCF growth 3Y13.43%
OCF growth 5Y29.86%