Enphase Energy, Inc. (ENPH) Financial Statements
Industry: Semiconductors & Related Devices
In fiscal 2025, Enphase Energy reported revenue of $1.47B, up 10.7% from $1.33B the year before. Net income was $172.1M (a 11.7% net margin), or $1.29 per diluted share. Gross margin was 46.6% and operating margin was 10.7%. Operating activities generated $136.5M of cash, leaving $95.9M of free cash flow. At fiscal year end, Enphase Energy held $3.51B in total assets against $2.42B in total liabilities, including $474.3M of cash and equivalents.
Open the full interactive Enphase Energy financials → Quarterly statements, key ratios, valuation history and price charts.
Enphase Energy Key Stats
| Share Price | $32.03 |
|---|---|
| Market Cap | $4.33B |
| P/E Ratio | 24.8 |
| Revenue YoY Growth | +10.7% |
| 52-Week Range | $26.12 – $72.33 |
| Shares Outstanding | 132.0 million (basic, 2026 Q2) |
Enphase Energy Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $774.4M | $1.38B | $2.33B | $2.29B | $1.33B | $1.47B |
| Gross Profit | $346.0M | $554.4M | $974.6M | $1.06B | $629.1M | $687.0M |
| Operating Income | $186.4M | $215.8M | $448.3M | $445.7M | $77.3M | $157.5M |
| Pre-Tax Income | $119.4M | $120.9M | $452.0M | $513.1M | $120.2M | $204.8M |
| Income Tax | -$14.6M | -$24.5M | $54.7M | $74.2M | $17.5M | $32.7M |
| Net Income | $134.0M | $145.4M | $397.4M | $438.9M | $102.7M | $172.1M |
| Diluted EPS | $0.94 | $1.02 | $2.75 | $3.06 | $0.75 | $1.29 |
Enphase Energy Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $410.4M | $343.3M | $282.9M | $291.9M |
| Net Income | $66.6M | $38.7M | -$7.4M | $36.1M |
| Diluted EPS | $0.50 | $0.29 | -$0.06 | $0.27 |
Enphase Energy Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $679.4M | $119.3M | $473.2M | $288.7M | $369.1M | $474.3M |
| Current Assets | $933.1M | $1.46B | $2.26B | $2.44B | $2.33B | $2.61B |
| Total Assets | $1.20B | $2.08B | $3.08B | $3.38B | $3.25B | $3.51B |
| Current Liabilities | $534.0M | $439.8M | $638.2M | $532.4M | $660.1M | $1.26B |
| Total Long-Term Debt | $330.9M | $1.04B | $1.29B | $1.29B | $1.30B | $1.20B |
| Total Liabilities | $716.1M | $1.65B | $2.26B | $2.40B | $2.42B | $2.42B |
| Shareholders' Equity | $484.0M | $430.2M | $825.6M | $983.6M | $833.0M | $1.09B |
Enphase Energy Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $216.3M | $352.0M | $744.8M | $696.8M | $513.7M | $136.5M |
| Cash From Investing | -$25.6M | -$1.22B | -$371.9M | -$366.4M | $128.3M | $106.8M |
| Cash From Financing | $191.7M | $309.4M | -$17.1M | -$516.8M | -$460.3M | -$241.6M |
| Free Cash Flow | $195.8M | $299.8M | $698.4M | $586.4M | $480.1M | $95.9M |
Figures from Enphase Energy's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Enphase Energy financials page for every line item.
Enphase Energy Company Profile
| Ticker | ENPH |
|---|---|
| Exchange | Nasdaq |
| Industry | Semiconductors & Related Devices |
| Headquarters | Fremont, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001463101 |
Frequently Asked Questions
What was Enphase Energy's revenue in fiscal 2025?
Enphase Energy (ENPH) reported revenue of $1.47B for fiscal 2025.
What is Enphase Energy's annual revenue history?
Enphase Energy's annual revenue by fiscal year: 2020: $774.4M; 2021: $1.38B; 2022: $2.33B; 2023: $2.29B; 2024: $1.33B; 2025: $1.47B.
What was Enphase Energy's net income in fiscal 2025?
Enphase Energy reported net income of $172.1M for fiscal 2025.
What was Enphase Energy's earnings per share (EPS) in fiscal 2025?
Enphase Energy's diluted EPS was $1.29 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Enphase Energy generate in fiscal 2025?
Enphase Energy generated $95.9M of free cash flow in fiscal 2025.
What was Enphase Energy's revenue last quarter?
In its most recent reported quarter (2026 Q2), Enphase Energy reported revenue of $291.9M.
How much debt does Enphase Energy have?
Enphase Energy reported $1.20B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Enphase Energy are outstanding?
Enphase Energy reported a weighted average of 132.0 million basic shares outstanding in 2026 Q2.
What is Enphase Energy's market cap?
Based on its latest closing price, Enphase Energy (ENPH) has a market capitalization of about $4.33B.
When does Enphase Energy's fiscal year end?
Enphase Energy's fiscal year end, as registered with the SEC, is December 31.
Where is Enphase Energy headquartered?
Enphase Energy lists its business address in Fremont, California in its SEC filings.