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

Insider buying

28.29 0.68 −2.35%

Follow ENPH

Alert me

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

Enphase Energy, Inc. (ENPH) Debt to equity

Alert me on Debt to equity

Enphase Energy, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.5×, down 0.6× from fiscal 2025 (1.1×). Over the past ten years it has ranged from −5.5× (fiscal 2017) to 18.3× (fiscal 2016); the current reading is higher than 45% of that period. That is above the Solar industry median of 0.0× and above the Technology sector median of 0.1×.

Embed this chart

Code for your page

<iframe src="https://stockrow.com/embed/ENPH/debt-to-equity" width="100%" height="360" style="border:0" loading="lazy" title="Enphase Energy, Inc. debt to equity, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/ENPH/metrics/debt-to-equity">Enphase Energy, Inc. (ENPH) debt to equity — stockrow.com</a></p>

Period	Debt to equity	Change
FY2025	1.1×	(29.13%)
FY2024	1.6×	18.87%
FY2023	1.3×	(15.85%)
FY2022	1.6×	(35.20%)
FY2021	2.4×	252.87%
FY2020	0.7×	76.32%
FY2019	0.4×	(97.25%)
FY2018	14.1×	—
FY2017	−5.5×	—
FY2016	18.3×	—

Period	Debt to equity	Change
Sep 2026	0.5×	(4.79%)
Jun 2026	0.5×	(6.68%)
Mar 2026	0.5×	(53.12%)
Dec 2025	1.1×	(8.40%)
43 more quarters	Free account

Against its own ten years

Low −5.5× High 18.3×

Ten-year median 1.3×

Current reading's percentile 45

Company	Debt to equity
ARRY Array Technologies, Inc. compare	−3.3×
DQ DAQO New Energy Corp. compare	0.0×
RUN Sunrun Inc. compare	0.0×
NXT Nextpower Inc. compare	0.0×
FSLR First Solar, Inc. compare	0.0×
SHLS Shoals Technologies Group, Inc. compare	0.3×
ENPH Enphase Energy, Inc.	0.5×
SEDG SolarEdge Technologies, Inc. compare	0.8×
JKS Jinko Holdings Limited - Unsponsored ADR compare	1.1×
Solar industry median	0.0×
Technology sector median	0.1×
Market median	0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

Enphase Energy, Inc. (ENPH) Debt to equity

Debt to equity, annual

Annual newest first

Quarterly newest first

Against its own ten years

Debt to equity against peers

What Debt to equity is

More on ENPH

Debt to equity, annual

Annual newest first

Quarterly newest first

Against its own ten years

Debt to equity against peers

What Debt to equity is

More on ENPH

Stockrow Weekly