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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) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Enphase Energy, Inc. (ENPH) trades at a P/B ratio of 3.1×. Over the past ten years it has ranged from 0.0× (September 2018) to 145× (December 2018); the current reading is higher than 14% of that period. That is above the Solar industry median of 0.9× and above the Technology sector median of 2.5×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 3.9× (65.30%)
FY2024 11.1× (38.75%)
FY2023 18.2× (56.18%)
FY2022 41.5× (27.14%)
FY2021 57.0× 25.21%
FY2020 45.5× 306.32%
FY2019 11.2× (81.51%)
FY2018 60.6× —
FY2017 0.0× —
FY2016 40.8× 979.61%

Quarterly newest first

Period P/B ratio Change
Sep 2026 3.5× (36.12%)
Jun 2026 5.5× 22.05%
Mar 2026 4.5× 16.49%
Dec 2025 3.9× (16.87%)
43 more quarters

Against its own ten years

Low 0.0× High 145×
Ten-year median 14.6×
Current reading's percentile 2

P/B ratio against peers

Company P/B ratio
ARRY Array Technologies, Inc. compare n/m
DQ DAQO New Energy Corp. compare 0.1×
JKS Jinko Holdings Limited - Unsponsored ADR compare 0.1×
RUN Sunrun Inc. compare 0.5×
FSLR First Solar, Inc. compare 1.9×
SHLS Shoals Technologies Group, Inc. compare 2.4×
ENPH Enphase Energy, Inc. 3.1×
SEDG SolarEdge Technologies, Inc. compare 3.7×
NXT Nextpower Inc. compare 5.7×
Solar industry median 0.9×
Technology sector median 2.5×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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