DAQO New Energy Corp. (DQ) vs Enphase Energy, Inc. (ENPH)

DAQO New Energy Corp. and Enphase Energy, Inc. are both Solar companies. Enphase Energy, Inc. is the larger, with a market value of $4.4B against $774.8M — 5.7× the size. DAQO New Energy Corp. has negative trailing earnings, so its P/E is not meaningful; Enphase Energy, Inc. trades at 31.8×. DAQO New Energy Corp. grew revenue faster over the last twelve months: −6.28% against −10.4%. Enphase Energy, Inc. has the higher net margin (10.1% vs −34.5%) and the higher return on invested capital (8.45% vs −4.45%). Across the 20 metrics below, Enphase Energy, Inc. leads on 13 and DAQO New Energy Corp. on 7.

Valuation

Metric DQ ENPH Solar median
P/E n/m 31.76 10.93
P/S 0.28 3.22 0.54
P/B 0.03 3.62 1.44
Price to free cash flow n/m 29.01 9.91
EV/EBITDA 4.89 23.16 9.90
EV/Sales (2.55) 3.42 0.74
Earnings yield (24.76%) 3.15% 0.00%
Free cash flow yield (174.96%) 3.45% 0.00%

Profitability

Metric DQ ENPH Solar median
Gross margin (35.45%) 46.95% 31.92%
Operating margin (52.20%) 8.32% (9.70%)
Net margin (34.50%) 10.09% (8.48%)
Free cash flow margin (47.06%) 11.49% (2.95%)
Return on equity 0.00% 13.00% 5.34%
Return on assets (3.04%) 4.40% (5.36%)
Return on invested capital (4.45%) 8.45% (5.27%)

Growth

Metric DQ ENPH Solar median
Revenue growth (TTM) (6.28%) (10.41%) 16.97%
EPS growth (last fiscal year) 51.53% 72.00% —
Revenue growth, 5-year CAGR (0.30%) 13.72% 14.00%
Net income growth, 5-year CAGR 0.00% 5.14% 0.00%

Health

Metric DQ ENPH Solar median
Debt to equity 0.00 0.48 0.09
Current ratio 5.81 3.45 1.33
Net debt to EBITDA 68.42 (1.29) 0.03

Dividend

Metric DQ ENPH Solar median
Dividend yield 1.15% — —
Payout ratio 0.00 0.00 0.00

Size

Metric DQ ENPH Solar median
Market cap 774.82m 4.39b 43.46m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack