Stocks · Energy · Solar

Enphase Energy, Inc. ENPH

$33.47 +1.98% Close, Oct 2, 2026 · NASDAQ · Market cap $4.42B

Next earnings report: Oct 27, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. The shares trade at 33.5× trailing earnings, lower than 86% of the company's own readings over the past five years.
  2. The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.
  3. The stock is 54% below its highest close of the past year.

PromtFinance scores

Each score is a percentile within the Energy sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.

Growth3Very weak

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Bottom 14%
  • EPS growth (TTM, YoY)Bottom 33%
  • FCF growth (TTM, YoY)Bottom 23%
  • Revenue growth, 3-year CAGRBottom 19%
  • Revenue growth accelerationBottom 11%
Quality55Neutral

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalBottom 33%
  • Gross marginTop 31%
  • Operating marginBottom 38%
  • Cash conversion (OCF / net income)Bottom 35%
  • Accruals (lower is better)Bottom 20%
  • Net debt / EBITDA (lower is better)Top 25%
  • Interest coverTop 1%
Value41Weak

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldBottom 41%
  • Free-cash-flow yieldBottom 42%
  • EBITDA / enterprise valueBottom 17%
  • Sales / enterprise valueBottom 31%
  • P/E vs own 5-year history (lower is better)Top 7%
Momentum21Very weak

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthBottom 21%
  • 6-month returnTop 45%
  • 1-year return vs S&P 500Bottom 23%
  • Distance from 52-week highBottom 9%
  • Trend checklist (0–4)Bottom 18%
Revisions35Weak

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersTop 34%
  • Consecutive EPS beatsBottom 20%
  • Share of analysts rating BuyBottom 29%
  • Upside to consensus price targetTop 43%
Stability26Very weak

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Bottom 25%
  • Maximum drawdown, 3 yearsBottom 8%
  • Beta vs S&P 500 (lower is better)Bottom 37%
  • Net debt / EBITDA (lower is better)Top 25%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)-1.6%-10.4%↓
EPS growth (YoY)-7.3%-22.5%↓
Gross margin48.2%46.9%↓
Operating margin11.7%8.3%↓
FCF margin25.2%11.5%↓

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)-10.4%-1.6%↓Bottom 14%
EPS growth (TTM, YoY)-22.5%-7.3%↓Bottom 33%
Gross margin46.9%48.2%↓Top 31%
Operating margin8.3%11.7%↓Bottom 38%
Net margin10.1%11.8%↓—
Free-cash-flow margin11.5%25.2%↓—
Return on invested capital3.8%—Bottom 33%
Revenue growth, 3-year CAGR-14.2%—Bottom 19%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
1.53×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
-2.4%
Stock-based compensation / revenueA cost to shareholders through dilution.
14.8%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
+13.4 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
0.47×
Interest cover (operating income / interest)How many times operating profit covers interest.
157.1×

Shareholder returns

Dividend yield (dividends paid, TTM)
0.00%
Net buyback yield (TTM)
0.29%
Shareholder yield
0.29%
Share count change, 1 year
-1.8%
Share count change, 3-year CAGR
-2.9%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Jul 28, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
0
Beats in the last 8 reports
4 of 8
Average EPS surprise, last 4
+18.5%
Average 2-day reaction, last 8
+1.4%
Positive 20 days after report
2 of 8

Analysts

Consensus price target
$43.43
Target vs current price
+29.8%
Analysts with a rating
55
Share rating Buy or Strong Buy
42%
Consensus rating
Hold

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Jul 28, 2026-2.4%-4.4%+3.5%-2.2%—
Apr 28, 2026-0.2%-2.7%-7.7%+89.8%+10.4%
Feb 3, 2026+31.5%+2.2%+37.9%+18.5%-14.5%
Oct 28, 2025+45.2%-0.3%-19.8%-27.2%+7.2%
Jul 22, 2025+11.3%+7.2%-11.9%-9.8%-8.1%
Apr 22, 2025-4.2%+3.5%-10.0%-5.5%-25.0%
Feb 4, 2025+30.6%+3.7%-1.3%-9.5%-30.2%
Oct 22, 2024-16.7%+2.0%-6.3%-31.0%-29.6%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Jul 28, 2026$0.46$0.47-2.4%$291.9M
Apr 28, 2026$0.47$0.47-0.2%$282.9M
Feb 3, 2026$0.71$0.54+31.5%$343.3M
Oct 28, 2025$0.90$0.62+45.2%$410.4M
Jul 22, 2025$0.69$0.62+11.3%$363.2M
Apr 22, 2025$0.68$0.71-4.2%$356.1M
Feb 4, 2025$0.94$0.72+30.6%$382.7M
Oct 22, 2024$0.65$0.78-16.7%$380.9M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)33.5×64.7×14thBottom 41%
P/E (forward)16.8×———
EV / EBITDA25.3×——Bottom 17%
EV / Sales3.39×——Bottom 31%
Free-cash-flow yield3.45%——Bottom 42%
Earnings yield2.99%——Bottom 41%

P/E over the past five years

Range 24.2× – 209.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
-9.6%
Earnings per share growth (TTM)
-22.5%
Change in P/E multiple
+10.2%

Most of the move came from earnings growth.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✗ Price above 50-day average
  • ✗ Price above 200-day average
  • ✗ 50-day average above 200-day
  • ✓ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
0
50-day average slope (20 days)
-8.9%
200-day average slope (20 days)
+1.3%
Distance from 50-day average
-9.4%
Distance from 200-day average
-18.8%
RSI (14)
42.6
Relative volume
0.98×

Risk and drawdowns

Volatility, 60 days (annualized)
54.6%
Volatility vs own 5-year history
15th percentile · Low for this stock
Beta vs S&P 500 (2 years, weekly)
0.64
Correlation with S&P 500
0.13
Current drawdown from 1-year high
-53.7%
Maximum drawdown, 3 years
-81.0%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Dec 2, 2022Nov 20, 2025-92.2%744 daysNot yet recovered
Nov 19, 2021Jan 27, 2022-55.2%46 days125 days (Jul 28, 2022)
Jan 7, 2021May 13, 2021-46.4%87 days116 days (Oct 27, 2021)
Sep 14, 2022Oct 14, 2022-25.8%22 days34 days (Dec 2, 2022)
Oct 20, 2020Oct 30, 2020-15.5%8 days4 days (Nov 5, 2020)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$4.42B
P/E (TTM)
33.5
EPS, diluted (TTM)
$1.00
Revenue (TTM)
$1.33B
52-week range
$25.78 – $73.74
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.38B$2.33B$2.29B$1.33B$1.47B
Gross profit$554.4M$974.6M$1.06B$629.1M$687.0M
Operating income$215.8M$448.3M$445.7M$77.3M$164.7M
Net income$145.4M$397.4M$438.9M$102.7M$172.1M
EPS (diluted)$1.02$2.77$3.08$0.75$1.29
Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Revenue$380.9M$382.7M$356.1M$363.2M$410.4M$343.3M$282.9M$291.9M
Net income$45.8M$62.2M$29.7M$37.1M$66.6M$38.7M-$7.4M$36.1M
EPS (diluted)$0.33$0.46$0.22$0.28$0.50$0.29-$0.06$0.27
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$352.0M$744.8M$696.8M$513.7M$136.5M
Capital expenditure-$52.5M-$46.4M-$110.4M-$33.6M-$40.6M
Free cash flow$299.5M$698.4M$586.4M$480.1M$95.9M
Dividends paid$0$0$0$0$0
Net share buybacks-$271.7M$10.4M-$396.1M-$378.7M-$121.4M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$967.1M
Total assets
$2.92B
Total liabilities
$1.74B
Total debt
$613.4M
Net debt
$84.0M
Shareholders’ equity
$1.18B

As of Jun 30, 2026 (filed Jul 28, 2026).

Short interest

Shares sold short
23,876,212
Days to cover
5.75
Change vs previous report
+2.1%

FINRA short interest, settlement date Sep 15, 2026.