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Other financials

Income statement

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Revenue$291.9M-19.6%
Gross profit$175.0M+2.7%
Operating income$51.5M+39.2%
Net income$36.1M-2.6%
EPS (diluted)$0.27-3.6%

Balance sheet

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Cash & equivalents$529.3M+42.9%
Total debt$613.4M-50.3%
Total equity$1.2B+34.2%
Total assets$2.9B-8.2%

Cash flow

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Operating cash flow$40.3M+51.4%
Free cash flow$25.9M+41.1%

Valuation

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Market cap$5.15B+30.7%
Enterprise value$5.23B+9.0%
P/E38.4×+15.9×
P/S3.9×+1.2×

Profitability

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Gross margin46.9%-1.3pp
Operating margin8.3%-3.4pp
Net margin10.1%-1.7pp
FCF margin11.5%-13.7pp

Returns & leverage

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Return on equity13%-6.8pp
Debt / equity0.5×-0.9×
Current ratio3.5×+1.5×

Where this comes from

Reported directly by Enphase Energy in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Enphase Energy’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 4:29 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001463101-26-000081
Line itemSix Months Ended June 30, 20262025
Cash flows from investing activities:
Purchases of marketable securities(29,006)(485,132)
Maturities and sales of marketable securities650,060578,218
Purchases of property and equipment(34,292)(22,867)
Issuance of loan receivables(1,000)
Investment in tax equity fund(8,344)
Receipts of loan receivables10,085
Issuance of secured revolving credit facility(29,000)

Item 1. Financial Statements (unaudited)

FAQ

What is Enphase Energy's capex?
Enphase Energy (ENPH) reported capex of $14.39M in Q2 2026.
How has Enphase Energy's capex changed year-over-year?
Enphase Energy's capex increased by 74.3% year-over-year, from $8.26M to $14.39M.
What is the long-term trend for Enphase Energy's capex?
Over 4 years (2021 to 2025), Enphase Energy's capex has grown at a -6.1% compound annual growth rate (CAGR), from $52.26M to $40.64M.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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