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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) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Enphase Energy, Inc. (ENPH) trades at a EV/FCF of 31.8×. Over the past ten years it has ranged from −209× (June 2018) to 2,200× (July 2018); the current reading is higher than 47% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 43.0× 130.10%
FY2024 18.7× (38.30%)
FY2023 30.3× (38.22%)
FY2022 49.0× (41.19%)
FY2021 83.3× (26.96%)
FY2020 114× 392.19%
FY2019 23.2× (45.98%)
FY2018 42.9× —
FY2017 −7.1× —
FY2016 −1.3× —

Quarterly newest first

Period EV/FCF Change
Sep 2026 35.6× (22.39%)
Jun 2026 45.9× 22.49%
Mar 2026 37.5× (12.79%)
Dec 2025 43.0× 109.25%
43 more quarters

Against its own ten years

Low −209× High 2,200×
Ten-year median 35.3×
Current reading's percentile 28

EV/FCF against peers

Company EV/FCF
SHLS Shoals Technologies Group, Inc. compare −48.3×
RUN Sunrun Inc. compare −9.2×
JKS Jinko Holdings Limited - Unsponsored ADR compare −0.3×
DQ DAQO New Energy Corp. compare 3.1×
ARRY Array Technologies, Inc. compare 8.7×
SEDG SolarEdge Technologies, Inc. compare 25.6×
NXT Nextpower Inc. compare 27.8×
ENPH Enphase Energy, Inc. 31.8×
FSLR First Solar, Inc. compare 85.4×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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