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Friday 6 November 2026 Export ENPH’s income statement to Excel — free account

Enphase Energy, Inc.

ENPH Technology Solar

Enphase Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 10.7% from fiscal 2024.

Revenue
−28.5%
EPS
−65.3%
Free cash flow
−293.2%
Total debt
−52.4%

Quarter to September 2026, against a year earlier

28.17 0.80 −2.76%
Market cap
$3.8B
P/E
42.5×
Fwd P/E
82.4×
Dividend yield
—
F-score
6/9
Altman Z
1.99
Beneish M
−2.40
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Enphase Energy, Inc. (ENPH) Current ratio

Alert me on Current ratio

Enphase Energy, Inc.'s current ratio at the end of the quarter to 30 September 2026 was 4.1×, up 2.0× from fiscal 2025 (2.1×). Over the past ten years it has ranged from 1.4× (fiscal 2017) to 4.6× (fiscal 2023); the current reading is higher than 55% of that period. That is above the Solar industry median of 1.5× and above the Technology sector median of 1.9×.

Current ratio, annual

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Annual newest first

Period Current ratio Change
FY2025 2.1× (41.41%)
FY2024 3.5× (23.18%)
FY2023 4.6× 29.35%
FY2022 3.5× 6.69%
FY2021 3.3× 90.32%
FY2020 1.7× (30.30%)
FY2019 2.5× 65.95%
FY2018 1.5× 6.24%
FY2017 1.4× (0.15%)
FY2016 1.4× (14.81%)

Quarterly newest first

Period Current ratio Change
Sep 2026 4.1× 18.57%
Jun 2026 3.5× (9.15%)
Mar 2026 3.8× 83.94%
Dec 2025 2.1× 1.13%
43 more quarters

Against its own ten years

Low 1.4× High 4.6×
Ten-year median 2.1×
Current reading's percentile 55

Current ratio against peers

Company Current ratio
DQ DAQO New Energy Corp. compare 4.5×
ENPH Enphase Energy, Inc. 4.1×
FSLR First Solar, Inc. compare 2.6×
SHLS Shoals Technologies Group, Inc. compare 2.5×
NXT Nextpower Inc. compare 2.2×
ARRY Array Technologies, Inc. compare 2.2×
SEDG SolarEdge Technologies, Inc. compare 2.1×
RUN Sunrun Inc. compare 1.5×
JKS Jinko Holdings Limited - Unsponsored ADR compare 1.1×
Solar industry median 1.5×
Technology sector median 1.9×
Market median 1.6×

What Current ratio is

Current Ratio shows whether a company’s short-term assets are enough to cover the bills and debts it must pay within the next year.

Current Assets (Total) ÷ Current Liabilities (Total)

The full definition of Current ratio →

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