Enphase Energy, Inc.
ENPHUSEnphase 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.
Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.
- Sector
- Industrial, Aerospace & Defense
- Sub-sector
- Electrical Equipment & Power Systems
- Listing
- ENPH
- Country
- US
EV / LTM Revenue
Annual financials & analyst forecasts
| $M | CY2021 | CY2022 | CY2023 | CY2024 | CY2025 | CY2026E | CY2027E |
|---|---|---|---|---|---|---|---|
| Revenue YoY | — | 69% | -2% | -42% | 11% | -20% | 6% |
| Revenue | $1.38B | $2.33B | $2.29B | $1.33B | $1.47B | $1.18B | $1.25B |
| Gross Profit | $554M | $975M | $1.06B | $629M | $687M | — | — |
| Gross Profit Margin | 40.1% | 41.8% | 46.2% | 47.3% | 46.6% | — | — |
| EBITDA | $198M | $520M | $597M | $200M | $288M | $232M | $245M |
| EBITDA Margin | 14.4% | 22.3% | 26.0% | 15.0% | 19.6% | 19.6% | 19.6% |
| EBIT | $216M | $448M | $446M | $77M | $157M | $186M | $196M |
| Net Income | $145M | $397M | $439M | $103M | $172M | $268M | $324M |
| Free Cash Flow | $300M | $698M | $586M | $480M | $96M | — | — |
| FCF Margin | 21.7% | 30.0% | 25.6% | 36.1% | 6.5% | — | — |
| Short-Term Debt | $86M | $91M | $0M | $101M | $632M | — | — |
| Long-Term Debt | $952M | $1.20B | $1.29B | $1.20B | $572M | — | — |
| Cash & Cash Equivalents | $119M | $473M | $289M | $464M | $474M | — | — |
| Net Debt | $918M | $817M | $1.00B | $838M | $730M | — | — |
| Net Debt / EBITDA | 4.6x | 1.6x | 1.7x | 4.2x | 2.5x | — | — |
| Rule of 40 | — | 98.6% | 23.9% | -5.8% | 17.2% | — | — |