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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

28.12 0.85 −2.93%
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/Sales

Alert me on EV/Sales

As of 5 November 2026, Enphase Energy, Inc. (ENPH) trades at a EV/Sales of 3.4×. Over the past ten years it has ranged from 0.1× (November 2015) to 34.2× (January 2021); the current reading is higher than 43% of that period. That is above the Solar industry median of 0.9× and above the Technology sector median of 2.6×.

EV/Sales, daily

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Annual newest first

Period EV/Sales Change
FY2025 2.6× (60.33%)
FY2024 6.7× (13.20%)
FY2023 7.7× (47.30%)
FY2022 14.6× (17.94%)
FY2021 17.8× (36.59%)
FY2020 28.0× 511.41%
FY2019 4.6× 204.97%
FY2018 1.5× 81.88%
FY2017 0.8× 350.90%
FY2016 0.2× (51.21%)

Quarterly newest first

Period EV/Sales Change
Sep 2026 3.8× (24.86%)
Jun 2026 5.1× 36.04%
Mar 2026 3.7× 41.55%
Dec 2025 2.6× (8.15%)
43 more quarters

Against its own ten years

Low 0.1× High 34.2×
Ten-year median 4.6×
Current reading's percentile 37

EV/Sales against peers

Company EV/Sales
DQ DAQO New Energy Corp. compare −1.6×
JKS Jinko Holdings Limited - Unsponsored ADR compare 0.1×
ARRY Array Technologies, Inc. compare 1.0×
SEDG SolarEdge Technologies, Inc. compare 1.3×
SHLS Shoals Technologies Group, Inc. compare 2.6×
ENPH Enphase Energy, Inc. 3.4×
NXT Nextpower Inc. compare 3.7×
FSLR First Solar, Inc. compare 4.0×
RUN Sunrun Inc. compare 4.3×
Solar industry median 0.9×
Technology sector median 2.6×
Market median 2.1×

What EV/Sales is

EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.

((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)) ÷ Revenue (TTM)

The full definition of EV/Sales →

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