What are Enphase Energy's profit margins?

Enphase Energy (ENPH) runs a 44.2% gross margin and a 6.9% operating margin, with a 9.6% 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.

Enphase Energy ENPH Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	44.2%-2.4pp	46.6%-1.8pp	48.5%+0.3pp	48.2%+0.3pp	47.9%+0.6pp
Operating margin	6.9%-3.8pp	10.7%-1.9pp	12.6%+0.9pp	11.7%+2.0pp	9.7%+3.9pp
Net margin	9.6%-2.0pp	11.7%-1.2pp	12.9%+1.2pp	11.8%+1.3pp	10.4%+2.7pp
EBITDA margin	12.7%-3.5pp	16.2%-1.7pp	17.9%+0.8pp	17.1%+1.7pp	15.4%+3.5pp
Free cash flow margin	10.4%+3.9pp	6.5%-7.9pp	14.4%-10.8pp	25.2%-8.0pp	33.2%-2.9pp
Returns
Return on equity	14.1%-3.8pp	17.9%-2.4pp	20.3%+0.5pp	19.8%+2.7pp	17.1%+5.8pp
Return on assets	4.6%-0.5pp	5.1%-0.8pp	5.9%+0.4pp	5.5%+0.8pp	4.7%+1.6pp
Return on invested capital	6.3%-1.1pp	7.4%-0.8pp	8.2%+0.4pp	7.8%+1.5pp	6.4%+2.8pp
Efficiency
Asset turnover	0.5×0.0×	0.4×0.0×	0.5×0.0×	0.5×0.0×	0.4×0.0×
Inventory turnover	3.6×+0.1×	3.5×-1.0×	4.5×+0.1×	4.4×+0.2×	4.2×+0.5×
Liquidity
Current ratio	3.8×+1.7×	2.1×0.0×	2×+0.1×	2×+0.1×	1.9×-1.6×
Quick ratio	3.2×+1.4×	1.8×0.0×	1.9×+0.1×	1.8×0.0×	1.8×-1.5×
Cash ratio	1×+0.7×	0.4×0.0×	0.3×0.0×	0.3×0.0×	0.4×-0.3×
Leverage
Debt-to-equity	0.6×-0.6×	1.1×-0.1×	1.2×-0.2×	1.4×-0.1×	1.5×-0.1×
Debt-to-assets	0.2×-0.1×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	0.6×-2.6×	3.2×+0.2×	3.1×-0.3×	3.4×-0.3×	3.7×-1.7×
Interest coverage	30.9×-4.0×	34.8×+2.9×	31.9×+8.3×	23.6×+7.8×	15.8×+7.1×
Per Share
Book value per share	$8.39+4.2%	$8.06+7.7%	$7.48+14.9%	$6.51+9.4%	$5.950.0%
Valuation
Market capitalization	$4.96B+18.2%	$4.19B-9.4%	$4.63B-8.1%	$5.04B-38.7%	$8.22B-11.4%
Enterprise value	$5.07B+2.2%	$4.96B-9.1%	$5.46B-7.5%	$5.9B-34.7%	$9.04B-10.9%
Price / earnings	36.7×+12.4×	24.4×+0.7×	23.7×-5.2×	28.8×-26.5×	55.4×-35.0×
Price / sales	3.5×+0.7×	2.8×-0.2×	3.1×-0.3×	3.4×-2.4×	5.8×-1.2×
Price / book	4.5×+0.6×	3.9×-0.8×	4.7×-1.1×	5.7×-4.4×	10.1×-1.0×
EV / EBITDA	28.6×+7.7×	20.8×+0.7×	20.2×-3.0×	23.2×-18.0×	41.2×-22.8×
EV / sales	3.6×+0.3×	3.4×-0.2×	3.6×-0.4×	4×-2.4×	6.4×-1.3×
Free cash flow yield	2.9%+0.6pp	2.3%-2.4pp	4.7%-2.7pp	7.4%+1.7pp	5.7%+0.6pp
Earnings yield	2.7%-1.4pp	4.1%-0.1pp	4.2%+0.8pp	3.5%+1.7pp	1.8%+0.7pp

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Questions, answered.

What are Enphase Energy's profit margins?: Enphase Energy (ENPH) runs a 44.2% gross margin and a 6.9% operating margin, with a 9.6% 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.