What is Enphase Energy's EV / EBITDA?

Enphase Energy (ENPH) reported EV / EBITDA of 28.6× in Q1 2026.

How has Enphase Energy's EV / EBITDA changed year-over-year?

Enphase Energy's EV / EBITDA decreased by 30.6% year-over-year, from 41.2× to 28.6×.

What is the long-term trend for Enphase Energy's EV / EBITDA?

Over 5 years (2020 to 2025), Enphase Energy's EV / EBITDA has grown at a -28.4% compound annual growth rate (CAGR), from 111× to 20.8×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Enphase Energy ENPH EV / EBITDA

EV / EBITDA at other companies

Tesla, Inc.TSLA

123.3×+53.7×

EnerSysENS

13.2×+5.3×

Quanta ServicesPWR

32.9×+13.9×

First SolarFSLR

8.5×+1.2×

Monolithic Power SystemsMPWR

54.2×+5.3×

Nextpower Inc. NXT

23.2×+15.0×

Other financials

Income statement

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Revenue$282.9M-20.6%

Gross profit$100.4M-40.3%

Operating income-$29.6M-193%

Net income-$7.4M-125%

EPS (diluted)-$0.06-127%

Balance sheet

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Cash & equivalents$497.5M+19.9%

Total debt$612.1M-50.4%

Total equity$1.1B+36.0%

Total assets$2.7B-12.3%

Cash flow

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Operating cash flow$102.9M+112%

CapEx$19.9M+36.2%

Free cash flow$83.0M+145%

Valuation

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Market cap$6.89B-39.7%

Enterprise value$7B-43.9%

P/E51×-25.9×

P/S4.9×-3.1×

Profitability

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Gross margin44.2%-3.7pp

Operating margin6.9%-2.9pp

Net margin9.6%-0.8pp

FCF margin10.4%-22.8pp

Returns & leverage

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Return on equity14.1%-3.0pp

Debt / equity0.6×-1.0×

Current ratio3.8×+1.9×

Where this comes from

Calculated from Enphase Energy’s reported figures.

enterprise value/ebitda=28.6×

Based on the most recent quarter.

The official record: Enphase Energy’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Enphase Energy's EV / EBITDA?: Enphase Energy (ENPH) reported EV / EBITDA of 28.6× in Q1 2026.
How has Enphase Energy's EV / EBITDA changed year-over-year?: Enphase Energy's EV / EBITDA decreased by 30.6% year-over-year, from 41.2× to 28.6×.
What is the long-term trend for Enphase Energy's EV / EBITDA?: Over 5 years (2020 to 2025), Enphase Energy's EV / EBITDA has grown at a -28.4% compound annual growth rate (CAGR), from 111× to 20.8×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.