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Enphase Energy ENPH Free cash flow margin

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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

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

Calculated from Enphase Energy’s reported figures.

Based on trailing twelve months.

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

Filed
Jul 28, 2026, 4:29 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001463101-26-000081

FAQ

What is Enphase Energy's free cash flow margin?
Enphase Energy (ENPH) reported free cash flow margin of 11.5% in Q2 2026.
How has Enphase Energy's free cash flow margin changed year-over-year?
Enphase Energy's free cash flow margin decreased by 54.3% year-over-year, from 25.2% to 11.5%.
What is the long-term trend for Enphase Energy's free cash flow margin?
Over 5 years (2020 to 2025), Enphase Energy's free cash flow margin has grown at a -23.8% compound annual growth rate (CAGR), from 25.3% to 6.5%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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