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Enphase Energy ENPH Business Segments — Operating Income (Loss)

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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%
CapEx$14.4M+74.3%
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:OperatingIncomeLoss.

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 itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Other research and development(5)28,08924,94054,12253,467
Other sales and marketing(6)30,53331,17461,10260,877
Other general and administrative(7)21,19721,66741,54942,860
Income from operations51,51937,00721,87668,929
Total other income, net10,3805,19826,16320,169
Income before income taxes61,89942,20548,03989,098
Income tax provision(25,820)(5,153)(19,366)(22,316)
Net income$36,079$37,052$28,673$66,782

Item 1. Financial Statements (unaudited)

FAQ

What is Enphase Energy's business segments — operating income (loss)?
Enphase Energy (ENPH) reported business segments — operating income (loss) of $51.52M in Q2 2026.
How has Enphase Energy's business segments — operating income (loss) changed year-over-year?
Enphase Energy's business segments — operating income (loss) increased by 39.2% year-over-year, from $37.01M to $51.52M.
What is the long-term trend for Enphase Energy's business segments — operating income (loss)?
Over 3 years (2022 to 2025), Enphase Energy's business segments — operating income (loss) has grown at a -29.4% compound annual growth rate (CAGR), from $448.26M to $157.53M.
What does business segments — operating income (loss) mean?
This metric represents the core profitability of the business segment after accounting for all direct operating expenses, including cost of revenue, research and development, and sales and marketing. It serves as a primary indicator of the segment's operational efficiency and its ability to generate profit from its core solar and storage technology activities before interest and taxes.

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