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Enphase Energy ENPH Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin46.9%-1.3pp44.2%-3.7pp46.6%-0.6pp48.5%+2.3pp48.2%+1.7pp
Operating margin8.3%-3.4pp6.9%-2.9pp10.7%+4.9pp12.6%+10.8pp11.7%+5.3pp
Net margin10.1%-1.7pp9.6%-0.8pp11.7%+4.0pp12.9%+8.0pp11.8%+2.7pp
Returns
Return on equity13%-6.8pp14.1%-3.0pp17.9%+6.6pp20.3%+14.0pp19.8%+5.8pp
Return on invested capital6%-1.8pp6.3%0.0pp7.4%+3.9pp8.2%+7.1pp7.8%+3.3pp
Efficiency
Asset turnover0.4×0.0×0.5×0.0×0.4×0.0×0.5×+0.1×0.5×0.0×
Liquidity
Current ratio3.5×+1.5×3.8×+1.9×2.1×-1.5×-2.1×-2.3×
Leverage
Debt-to-equity0.5×-0.9×0.6×-1.0×1.1×-0.5×1.2×-0.2×1.4×-0.1×
Net debt / EBITDA0.4×-3.0×0.6×-3.1×3.2×-2.2×3.1×-7.3×3.4×-2.8×
Per Share
Book value per share$8.75+34.3%$8.39+41.0%$8.06+35.4%$7.48+12.4%$6.51+0.2%
Valuation
Market capitalization$5.15B+30.7%$4.96B-39.7%$4.19B-54.8%$4.63B-69.8%$5.04B-62.8%
Price / earnings38.4×+15.9×36.7×-18.6×24.4×-66.0×23.7×-226×28.8×-75.7×
Price / sales3.9×+1.2×3.5×-2.2×2.8×-4.1×3.1×-9.2×3.4×-6.1×
Price / book4.4×-0.1×4.5×-5.6×3.9×-7.3×4.7×-11.8×5.7×-9.6×
EV / EBITDA27.2×+8.3×28.6×-12.6×20.8×-43.1×20.2×-138×23.2×-62.0×

FAQ

What are Enphase Energy's profit margins?
Enphase Energy (ENPH) runs a 46.9% gross margin and a 8.3% operating margin, with a 10.1% net margin.
Where do Enphase Energy's ratios come from?
Every ratio is computed from Enphase Energy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.