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Earnings transcript
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ENPH
Enphase Energy, Inc.
$30.83
0.01
(0.03%)
| Exchange: | NASDAQ |
| Market Cap: | 4.074B |
| Shares Outstanding: | 39.291M |
Delayed data
About The Company
| Sector: | EnergyView sector performance | |||||
| Industry: | SolarView industry performance | |||||
| CEO: | Badrinarayanan Kothandaraman | |||||
| Full Time Employees: | 2872 | |||||
| Address: |
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| Website: | https://www.enphase.com |
Enphase Energy, Inc., along with its subsidiaries, is dedicated to developing, manufacturing, and distributing home energy solutions for the global solar photovoltaic industry. Their core offering is a semiconductor-based microinverter, designed to convert energy at the individual solar module level. This technology seamlessly integrates with their proprietary networking and software, providing advanced energy monitoring and control capabilities. The company’s product portfolio also includes AC battery storage systems, the Envoy communications gateway, the cloud-based Enlighten monitoring service, and various related accessories. Enphase sells its offerings through multiple channels, reaching solar distributors, large installers directly, original equipment manufacturers (OEMs), strategic partners, and individual homeowners, as well as through its legacy product upgrade program and online store. Established in 2006, Enphase Energy, Inc. is headquartered in Fremont, California.
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Revenue Segmentation
ENPH full analysis
Welcome to MARKETSNAP’s SWOT analysis for Enphase Energy, a key player in the renewable energy space that many of you are likely already tracking. If you’re not familiar, Enphase Energy is a leading provider of solar energy solutions, specializing in microinverters and energy storage systems. They operate in the solar industry within the broader technology and energy sector, and they’ve carved out a strong niche by focusing on innovative, efficient solar tech for residential and commercial markets. With a solid…
EPS
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Earnings Call
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Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,290,786 | 1,330,383 | 1,472,985 |
| Gross Profit | 1,058,388 | 629,138 | 687,004 |
| EBITDA | 596,686 | 210,453 | 230,150 |
| Operating Income | 445,741 | 77,292 | 164,657 |
| Net Income | 438,936 | 102,658 | 172,133 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 3,383,012 | 3,249,676 | 3,509,792 |
| Total Liabilities | 2,399,388 | 2,416,660 | 2,422,769 |
| Total Stockholders Equity | 983,624 | 833,016 | 1,087,023 |
| Total Debt | 1,298,958 | 1,308,195 | 1,204,377 |
| Cash and Cash Equivalents | 288,748 | 369,110 | 474,318 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 696,780 | 513,693 | 136,540 |
| Capital Expenditure | -110,401 | -33,604 | -40,639 |
| Free Cash Flow | 586,379 | 480,089 | 95,901 |
| Net Income | 438,936 | 102,658 | 172,133 |
| Net Change in Cash | -184,496 | 175,368 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 1,499,941.227 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 1,911,719.024 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 1,699,500 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 500,641.649 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 669,947.794 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 582,691.687 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 403,464.261 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 553,442.657 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 476,147.583 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 288,645.638 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 367,887.320 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 327,048.323 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 3.530 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 4.100 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 2.990 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 15 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 3 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Resilient Financial Performance: Enphase Energy reported Q1 2025 revenue of $356.1 million, demonstrating stability despite industry challenges. Historical data shows revenue growth from $774.4 million in 2020 to $2.33 billion in 2022, with a gross profit margin of 47.67% in 2024, indicating strong profitability within the solar sector.
- Strong Cash Flow Generation: Free cash flow for 2024 was $480.1 million, reflecting robust operational efficiency. This is supported by consistent positive operating cash flow over recent years, providing financial flexibility for innovation and debt management.
- Strategic Product Innovation: As highlighted in the Q1 2025 earnings call, Enphase is focusing on new product launches and supply chain adjustments to maintain growth. This adaptability positions the company favorably against competitors in the solar industry.
- Solid Liquidity Position: With a current ratio of 1.895 and a quick ratio of 1.771 in 2024, Enphase maintains a strong balance sheet, ensuring it can cover short-term liabilities and invest in growth opportunities.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates ENPH intrinsic value between $45.73 – $48.29 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about ENPH valuation
Is Enphase Energy, Inc. (ENPH) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Enphase Energy, Inc. (ENPH) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is ENPH a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ENPH trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is ENPH’s P/E ratio?
You can see ENPH’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for ENPH?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is ENPH a good long-term investment?
Whether ENPH fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
ENPH
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Daily snapshot
0.03
Trading Metrics:
| Open: | 30.64 | Previous Close: | 30.82 | |
| Day Low: | 30.55 | Day High: | 31.75 | |
| Year Low: | 25.78 | Year High: | 73.74 | |
| Price Avg 50: | 35.94 | Price Avg 200: | 41.21 | |
| Volume: | 2.15M | Average Volume: | 5.147M |
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