stockrowEnphase 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
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Enphase Energy, Inc. (ENPH) Free cash flow
Enphase Energy, Inc.'s free cash flow for fiscal 2025 was $95.9M, down 80.0% from $480.1M in fiscal 2024. Over the twelve months to 30 September 2026 it was $135.4M. Over the past ten years it has ranged from −$45.8M (fiscal 2016) to $698.4M (fiscal 2022); the current reading is higher than 45% of that period. Free cash flow has fallen for 3 consecutive fiscal years. Enphase Energy, Inc. ranks 4th of 22 Solar companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $95.9M | (80.02%) |
| FY2024 | $480.1M | (18.13%) |
| FY2023 | $586.4M | (16.04%) |
| FY2022 | $698.4M | 133.16% |
| FY2021 | $299.5M | 57.01% |
| FY2020 | $190.8M | 53.50% |
| FY2019 | $124.3M | 937.30% |
| FY2018 | $12.0M | — |
| FY2017 | −$32.6M | — |
| FY2016 | −$45.8M | — |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Sep 2026 | −$11.4M | — |
| Jun 2026 | $25.9M | (68.75%) |
| Mar 2026 | $83.0M | 119.28% |
| Dec 2025 | $37.8M | 542.86% |
| 43 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| NXT Nextpower Inc. compare | $512.3M |
| FSLR First Solar, Inc. compare | $232.8M |
| RUN Sunrun Inc. compare | $222.8M |
| ENPH Enphase Energy, Inc. | $135.4M |
| ARRY Array Technologies, Inc. compare | $134.7M |
| SEDG SolarEdge Technologies, Inc. compare | $75.3M |
| SHLS Shoals Technologies Group, Inc. compare | −$34.5M |
| DQ DAQO New Energy Corp. compare | −$253.2M |
| JKS Jinko Holdings Limited - Unsponsored ADR compare | −$3.0B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on ENPH
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement