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Enphase Energy ENPH Q3 2025 earnings

Reported October 28, 2025 · After market close

Revenue$410.4MBeat by $71.8M
EPS$0.90Beat by $0.28
Revenue estimate$338.6M
EPS estimate$0.62

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$305.1M
EPS estimate$0.48

Financials

Q3 2025

Income statement

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Revenue$410.4M+7.8%
Gross profit$196.2M+10.1%
Operating income$66.2M+32.9%
Net income$66.6M+45.6%
EPS (diluted)$0.50+51.5%

Balance sheet

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Cash & equivalents$401.9M+56.8%
Total debt$1.2B-7.4%
Total equity$995.0M+6.8%
Total assets$3.3B+1.7%

Cash flow

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Operating cash flow$13.9M-91.8%
CapEx$8.0M-5.9%
Free cash flow$5.9M-96.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$4.63B-69.8%
Enterprise value$5.46B-66.7%
P/E23.7×-226×
P/S3.1×-9.2×

Profitability

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Gross margin48.5%+2.3pp
Operating margin12.6%+10.8pp
Net margin12.9%+8.0pp
FCF margin14.4%-12.5pp

Returns & leverage

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Return on equity20.3%+14.0pp
Debt / equity1.2×-0.2×
Current ratio2×-2.1×

Segments

By segment

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Reportable Segment$410.4M+7.8%

FAQ

When did Enphase Energy report Q3 2025 earnings?
Enphase Energy (ENPH) reported Q3 2025 earnings on October 28, 2025 after market close.
What were Enphase Energy's Q3 2025 revenue and EPS?
Enphase Energy reported revenue of $410.4M and eps of $0.90 for Q3 2025.
Did Enphase Energy beat estimates in Q3 2025?
Revenue beat the consensus estimate of $338.6M by $71.8M. EPS beat the consensus estimate of $0.62 by $0.28.
Where can I find Enphase Energy's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001463101-25-000111) and the 10-Q periodic report (0001463101-25-000112) directly on SEC EDGAR. The filing index links above go to sec.gov.