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) Operating margin
Enphase Energy, Inc.'s operating margin over the twelve months to 30 September 2026 was 4.19%, down 6.5 percentage points from fiscal 2025 (10.7%). Over the past ten years it has ranged from −19.4% (fiscal 2016) to 24.1% (fiscal 2020); the current reading is higher than 55% of that period. That is above the Solar industry median of −7.89% and above the Technology sector median of 0.02%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 10.7% | 4.88 |
| FY2024 | 5.81% | (13.65) |
| FY2023 | 19.5% | 0.23 |
| FY2022 | 19.2% | 3.61 |
| FY2021 | 15.6% | (8.45) |
| FY2020 | 24.1% | 7.62 |
| FY2019 | 16.5% | 15.95 |
| FY2018 | 0.50% | 14.26 |
| FY2017 | −13.8% | 5.68 |
| FY2016 | −19.4% | (14.04) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 2.20% | (15.45) |
| Jun 2026 | 17.7% | 28.13 |
| Mar 2026 | −10.5% | (17.02) |
| Dec 2025 | 6.54% | (9.58) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| FSLR First Solar, Inc. compare | 37.7% |
| NXT Nextpower Inc. compare | 19.0% |
| SHLS Shoals Technologies Group, Inc. compare | 11.2% |
| RUN Sunrun Inc. compare | 6.29% |
| ENPH Enphase Energy, Inc. | 4.19% |
| ARRY Array Technologies, Inc. compare | −5.13% |
| SEDG SolarEdge Technologies, Inc. compare | −9.20% |
| JKS Jinko Holdings Limited - Unsponsored ADR compare | −11.5% |
| DQ DAQO New Energy Corp. compare | −69.0% |
| Solar industry median | −7.89% |
| Technology sector median | 0.02% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on ENPH
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross 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