What is Enphase Energy's price / book?

Enphase Energy (ENPH) reported price / book of 4.5× in Q1 2026.

How has Enphase Energy's price / book changed year-over-year?

Enphase Energy's price / book decreased by 55.7% year-over-year, from 10.1× to 4.5×.

What is the long-term trend for Enphase Energy's price / book?

Over 5 years (2020 to 2025), Enphase Energy's price / book has grown at a -39.5% compound annual growth rate (CAGR), from 47.6× to 3.9×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

Enphase Energy ENPH Price / book

Price / book at other companies

Tesla, Inc.TSLA

16.6×+5.4×

Generac HoldingsGNRC

4.3×+1.2×

EnerSysENS

3.4×+1.5×

Quanta ServicesPWR

9.1×+4.0×

First SolarFSLR

2.1×+0.5×

Monolithic Power SystemsMPWR

14.6×+5.6×

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.

market cap/total stockholders equity=4.5×

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 price / book?: Enphase Energy (ENPH) reported price / book of 4.5× in Q1 2026.
How has Enphase Energy's price / book changed year-over-year?: Enphase Energy's price / book decreased by 55.7% year-over-year, from 10.1× to 4.5×.
What is the long-term trend for Enphase Energy's price / book?: Over 5 years (2020 to 2025), Enphase Energy's price / book has grown at a -39.5% compound annual growth rate (CAGR), from 47.6× to 3.9×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.