# Enphase Energy, Inc. (ENPH)

**Exchange:** NASDAQ  
**Sector:** Technology  
**Market cap:** $6.82B  
**Price:** $50.57 (-5.49%)

> Enphase Energy, Inc. is a global energy technology company specializing in intelligent home energy solutions. The company designs, develops, manufactures, and sells systems that integrate solar energy generation, battery storage, and energy management software on a single, unified platform. Its core offering is based on microinverter technology, which converts solar power at the individual panel level and is widely used in the residential and small commercial rooftop solar market. Enphase Energy complements these devices with battery storage products, monitoring tools, and control software that allow homeowners and installers to track and optimize energy usage and system performance in real time. The company operates across multiple regions, with key geographic segments in the United States, the Netherlands, and other international markets, serving solar installers, distributors, and energy system integrators. Founded in 2006 and headquartered in Fremont, California, Enphase Energy plays a significant role in enabling distributed solar and storage adoption through its integrated, digitally managed energy solutions.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $1.47B | $687M | $158M | $172M | $1.29 |
| 2024 | $1.33B | $629M | $77M | $103M | $0.75 |
| 2023 | $2.29B | $1.06B | $446M | $439M | $3.08 |
| 2022 | $2.33B | $975M | $448M | $397M | $2.77 |
| 2021 | $1.38B | $554M | $216M | $145M | — |
| 2020 | $774M | $346M | $186M | $134M | — |
| 2019 | $624M | $221M | $103M | $161M | — |
| 2018 | $316M | $94M | $2M | -$12M | — |
| 2017 | $286M | $56M | -$39M | -$45M | — |
| 2016 | $323M | $58M | -$63M | -$67M | — |
| 2015 | $357M | $108M | — | -$22M | — |
| 2014 | $344M | $113M | — | -$8M | — |
| 2013 | $233M | $67M | — | -$26M | — |
| 2012 | $217M | $55M | — | -$38M | — |
| 2011 | $150M | $29M | — | -$32M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $3.51B | $2.42B | $1.09B | $474M | $1.20B |
| 2024 | $3.25B | $2.42B | $833M | $369M | $1.30B |
| 2023 | $3.38B | $2.40B | $984M | $289M | $1.29B |
| 2022 | $3.08B | $2.26B | $826M | $473M | $1.29B |
| 2021 | $2.08B | $1.65B | $430M | $119M | $1.04B |
| 2020 | $1.20B | $716M | $484M | $679M | $331M |
| 2019 | $713M | $441M | $272M | $251M | $106M |
| 2018 | $340M | $332M | $8M | $106M | $110M |
| 2017 | $169M | $178M | -$9M | $29M | $50M |
| 2016 | $164M | $162M | $1M | $18M | $24M |
| 2015 | $166M | $124M | $41M | $28M | — |
| 2014 | $152M | $105M | $47M | $42M | — |
| 2013 | $117M | $76M | $40M | $38M | $11M |
| 2012 | $122M | $66M | $57M | $45M | $11M |
| 2011 | $106M | $92M | $14M | $52M | $15M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $137M | $41M | $96M |
| 2024 | $514M | $34M | $480M |
| 2023 | $697M | $110M | $586M |
| 2022 | $745M | $46M | $698M |
| 2021 | $352M | $52M | $300M |
| 2020 | $216M | $21M | $196M |
| 2019 | $139M | $15M | $124M |
| 2018 | $16M | $4M | $12M |
| 2017 | -$28M | $4M | -$33M |
| 2016 | -$33M | $12M | -$45M |
| 2015 | -$21M | $13M | -$34M |
| 2014 | $24M | $13M | $11M |
| 2013 | -$872,000 | $6M | -$7M |
| 2012 | -$45M | $13M | -$58M |
| 2011 | -$367,000 | $15M | -$15M |

Source: [CompaniesByCap](https://companiesbycap.com/company/ENPH)