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Enphase Energy ENPH Q4 2025 Annual earnings

Reported February 3, 2026 · After market close

Revenue$343.3MBeat by $4.9M
EPS$0.71Beat by $0.17
Revenue estimate$338.4M
EPS estimate$0.54

Next report

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

Financials

Q4 2025

Income statement

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Revenue$343.3M-10.3%
Gross profit$152.0M-23.3%
Operating income$22.4M-59.1%
Net income$38.7M-37.7%
EPS (diluted)$0.28-37.8%

Balance sheet

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Cash & equivalents$474.3M+2.2%
Total debt$1.2B-6.6%
Total equity$1.1B+30.5%
Total assets$3.5B+8.0%

Cash flow

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Operating cash flow$47.6M-71.6%
CapEx$9.7M+20.8%
Free cash flow$37.8M-76.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$4.19B-54.8%
Enterprise value$4.96B-51.1%
P/E24.4×-66.0×
P/S2.8×-4.1×

Profitability

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Gross margin46.6%-0.6pp
Operating margin10.7%+4.9pp
Net margin11.7%+4.0pp
FCF margin6.5%-29.6pp

Returns & leverage

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Return on equity17.9%+6.6pp
Debt / equity1.1×-0.5×
Current ratio2.1×-1.5×

Segments

By segment

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Reportable Segment$343.3M-10.3%

FAQ

When did Enphase Energy report Q4 2025 earnings?
Enphase Energy (ENPH) reported Q4 2025 earnings on February 3, 2026 after market close.
What were Enphase Energy's Q4 2025 revenue and EPS?
Enphase Energy reported revenue of $343.3M and eps of $0.71 for Q4 2025.
Did Enphase Energy beat estimates in Q4 2025?
Revenue beat the consensus estimate of $338.4M by $4.9M. EPS beat the consensus estimate of $0.54 by $0.17.
How did Enphase Energy's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 10.3% from $382.7M a year earlier and eps declined 24.5% from $0.94.
Where can I find Enphase Energy's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001463101-26-000008) and the 10-K periodic report (0001463101-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.