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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	46.6%-0.6pp	47.3%+1.1pp	46.2%+4.4pp	41.8%+1.7pp
Operating margin	10.7%+4.9pp	5.8%-14.1pp	19.9%+0.7pp	19.2%+3.6pp
Net margin	11.7%+4.0pp	7.7%-11.4pp	19.2%+2.1pp	17%+6.5pp
EBITDA margin	16.2%+4.2pp	11.9%-11.2pp	23.2%+1.4pp	21.8%+3.9pp
Free cash flow margin	6.5%-29.6pp	36.1%+10.5pp	25.6%-4.4pp	30%+8.3pp
Returns
Return on equity	17.9%+6.6pp	11.3%-37.2pp	48.5%-14.8pp	63.3%+31.5pp
Return on assets	5.1%+2.0pp	3.1%-10.5pp	13.6%-1.8pp	15.4%+6.5pp
Return on invested capital	7.4%+3.9pp	3.6%-21.2pp	24.8%-1.2pp	26%-2.4pp
Efficiency
Asset turnover	0.4×0.0×	0.4×-0.3×	0.7×-0.2×	0.9×+0.1×
Inventory turnover	3.5×-0.2×	3.7×-3.1×	6.8×-5.3×	12.1×-2.1×
Liquidity
Current ratio	2.1×-1.5×	3.5×-1.1×	4.6×+1.0×	3.5×+0.2×
Quick ratio	1.8×-1.4×	3.3×-0.9×	4.2×+0.9×	3.3×+0.2×
Cash ratio	0.4×-0.3×	0.7×+0.2×	0.5×-0.2×	0.7×+0.5×
Leverage
Debt-to-equity	1.1×-0.5×	1.6×+0.3×	1.3×-0.3×	1.6×-0.9×
Debt-to-assets	0.4×-0.1×	0.4×0.0×	0.4×0.0×	0.4×-0.1×
Net debt / EBITDA	3.2×-2.2×	5.5×+3.5×	1.9×+0.3×	1.7×-2.1×
Interest coverage	34.8×+26.2×	8.7×-42.9×	51.6×+4.1×	47.5×+42.7×
Per Share
Book value per share	$8.06+35.4%	$5.95-13.3%	$6.86+20.1%	$5.72+89.9%
Valuation
Market capitalization	$4.19B-54.8%	$9.28B-48.4%	$17.98B-50.2%	$36.08B+40.5%
Enterprise value	$4.96B-51.1%	$10.15B-46.6%	$19.01B-48.5%	$36.92B+38.7%
Price / earnings	24.4×-66.0×	90.4×+49.4×	41×-49.8×	90.8×-85.8×
Price / sales	2.8×-4.1×	7×-0.9×	7.9×-7.6×	15.5×-3.1×
Price / book	3.9×-7.3×	11.1×-7.1×	18.3×-25.4×	43.7×-16.0×
EV / EBITDA	20.8×-43.1×	63.9×+28.1×	35.8×-37.0×	72.8×-35.1×
EV / sales	3.4×-4.3×	7.6×-0.7×	8.3×-7.5×	15.8×-3.4×
Free cash flow yield	2.3%-2.9pp	5.2%+1.9pp	3.3%+1.3pp	1.9%+0.8pp
Earnings yield	4.1%+3.0pp	1.1%-1.3pp	2.4%+1.3pp	1.1%+0.5pp
PEG ratio	0.4×—	——	3.9×+3.4×	0.5×-20.1×

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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.