What is Enphase Energy's R&D?

Enphase Energy (ENPH) reported R&D of $44.87M in Q1 2026.

How has Enphase Energy's R&D changed year-over-year?

Enphase Energy's R&D decreased by 10.6% year-over-year, from $50.17M to $44.87M.

What is the long-term trend for Enphase Energy's R&D?

Over 4 years (2021 to 2025), Enphase Energy's R&D has grown at a 15.7% compound annual growth rate (CAGR), from $105.53M to $189.08M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Enphase Energy ENPH R&D

R&D at other companies

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$1.95B+38.1%

First SolarFSLR

$66.94M+27.8%

Nextpower Inc. NXT

$43.17M+83.0%

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$62.4M+15.1%

GE VernovaGEV

$304M+27.2%

Ormat TechnologiesORA

$1.13M-55.5%

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

Reported directly by Enphase Energy in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

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 R&D?: Enphase Energy (ENPH) reported R&D of $44.87M in Q1 2026.
How has Enphase Energy's R&D changed year-over-year?: Enphase Energy's R&D decreased by 10.6% year-over-year, from $50.17M to $44.87M.
What is the long-term trend for Enphase Energy's R&D?: Over 4 years (2021 to 2025), Enphase Energy's R&D has grown at a 15.7% compound annual growth rate (CAGR), from $105.53M to $189.08M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.