What is Enphase Energy's net margin?

Enphase Energy (ENPH) reported net margin of 9.6% in Q1 2026.

How has Enphase Energy's net margin changed year-over-year?

Enphase Energy's net margin decreased by 7.6% year-over-year, from 10.4% to 9.6%.

What is the long-term trend for Enphase Energy's net margin?

Over 5 years (2020 to 2025), Enphase Energy's net margin has grown at a -7.5% compound annual growth rate (CAGR), from 17.3% to 11.7%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Enphase Energy ENPH Net margin

Net margin at other companies

Tesla, Inc.TSLA

3.9%-2.4pp

Generac HoldingsGNRC

7%-0.2pp

EnerSysENS

7.8%-2.2pp

Quanta ServicesPWR

3.7%-0.1pp

First SolarFSLR

30.7%+1.0pp

Monolithic Power SystemsMPWR

23%-45.5pp

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

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.

net income/total revenue=9.6%

Based on trailing twelve months.

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 net margin?: Enphase Energy (ENPH) reported net margin of 9.6% in Q1 2026.
How has Enphase Energy's net margin changed year-over-year?: Enphase Energy's net margin decreased by 7.6% year-over-year, from 10.4% to 9.6%.
What is the long-term trend for Enphase Energy's net margin?: Over 5 years (2020 to 2025), Enphase Energy's net margin has grown at a -7.5% compound annual growth rate (CAGR), from 17.3% to 11.7%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.