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Enphase Energy ENPH Return on invested capital

Return on invested capital at other companies

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4.2%-2.6pp
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-37%-13.1pp
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-15.1%-6.9pp
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-111.4%
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-102.2%+18.4pp

Other financials

Income statement

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Revenue$291.9M-19.6%
Gross profit$175.0M+2.7%
Operating income$51.5M+39.2%
Net income$36.1M-2.6%
EPS (diluted)$0.27-3.6%

Balance sheet

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Cash & equivalents$529.3M+42.9%
Total debt$613.4M-50.3%
Total equity$1.2B+34.2%
Total assets$2.9B-8.2%

Cash flow

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Operating cash flow$40.3M+51.4%
CapEx$14.4M+74.3%
Free cash flow$25.9M+41.1%

Valuation

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Market cap$5.15B+30.7%
Enterprise value$5.23B+9.0%
P/E38.4×+15.9×
P/S3.9×+1.2×

Profitability

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Gross margin46.9%-1.3pp
Operating margin8.3%-3.4pp
Net margin10.1%-1.7pp
FCF margin11.5%-13.7pp

Returns & leverage

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Return on equity13%-6.8pp
Debt / equity0.5×-0.9×
Current ratio3.5×+1.5×

Where this comes from

Calculated from Enphase Energy’s reported figures.

Based on trailing twelve months.

The source filing: Enphase Energy’s 10-Q, filed July 28, 2026. Open the filing →

Filed
Jul 28, 2026, 4:29 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001463101-26-000081

FAQ

What is Enphase Energy's return on invested capital?
Enphase Energy (ENPH) reported return on invested capital of 6% in Q2 2026.
How has Enphase Energy's return on invested capital changed year-over-year?
Enphase Energy's return on invested capital decreased by 23.2% year-over-year, from 7.8% to 6%.
What is the long-term trend for Enphase Energy's return on invested capital?
Over 5 years (2020 to 2025), Enphase Energy's return on invested capital has grown at a -45.1% compound annual growth rate (CAGR), from 149.4% to 7.4%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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