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Enphase Energy ENPH Operating Income

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Segments

By segment

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Reportable Segment$51.52M+39.2%

Other financials

Income statement

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Revenue$291.9M-19.6%
Gross profit$175.0M+2.7%
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
General and administrative31,33434,03564,58968,070
Restructuring and asset impairment charges9583,3224,7856,484
Total operating expenses123,495133,486253,531269,805
Income from operations51,51937,00721,87668,929
Other income, net
Interest income12,15414,91124,77931,943
Interest expense(327)(815)(960)(2,862)
Other income (expense), net(1,447)(8,898)2,344(8,912)

Item 1. Financial Statements (unaudited)

FAQ

What is Enphase Energy's operating income?
Enphase Energy (ENPH) reported operating income of $51.52M in Q2 2026.
How has Enphase Energy's operating income changed year-over-year?
Enphase Energy's operating income increased by 39.2% year-over-year, from $37.01M to $51.52M.
What is the long-term trend for Enphase Energy's operating income?
Over 4 years (2021 to 2025), Enphase Energy's operating income has grown at a -7.6% compound annual growth rate (CAGR), from $215.83M to $157.53M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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