Enphase Energy

Information Technology Semiconductor Materials & Equipment Fremont, California Last filing Feb 10, 2025 · FY2024

                    Revenue
                    FY2024
                
$1.3B
                    3y CAGR -1.3%
                    
                    P22
                    
                    n/a
                    
                    Net income
                    FY2024
                
$102.7M
                    Net margin +7.7%
                    
                    P22
                    
                    n/a
                    
                    Total assets
                    FY2024
                
$3.2B
                    ROA +3.2%
                    
                    P11
                    
                    n/a
                    
                    Operating cash flow
                    FY2024
                
$513.7M
                    FCF margin +36.1%
                    
                    P88
                    
                    n/a

14 yrs · FY2010–FY2024 1 gap (2011) 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

36 accounts · 1 year

Total assets $3.2B

Total liabilities $2.4B

Shareholders equity $833.0M

Account	2024	Trend
Assets
Cash and Cash Equivalents	11.4%
Short Term Investments	38.6%
Accounts Receivable	6.9%
Inventory	5.1%
Prepaid Expenses	6.8%
Contract Assets	4.7%
Total Current Assets	71.6%
Property,Plant and Equipment	4.5%
Operating Lease Assets	0.8%
Goodwill	6.5%
Intangible Assets	1.3%
Capitalized Software	0.7%
Other Noncurrent Assets	5.6%
Total Assets	100.0%
Liabilities
Accounts Payable	2.8%
Accrued Liabilities	6.1%
Contract Liabilities	7.3%
Product Warranty	1.1%
Operating Lease Liabilities	0.2%
Current Portion of Long Term Debt	3.1%
Income Taxes Payable	0.1%
Restructuring Reserve	0.1%
Total Current Liabilities	20.3%
Long Term Debt	37.0%
Operating Lease Liabilities Noncurrent	0.7%
Deferred Tax Liabilities	1.0%
Product Warranty Noncurrent	4.9%
Other Noncurrent Liabilities	1.7%
Total Liabilities	74.4%
Equity
Common Stock	0.0%
Additional Paid In Capital	33.4%
Retained Earnings	-7.5%
Accumulated Other Comprehensive Income	-0.2%
Total Stockholders Equity	25.6%
Total Liabilities and Stockholders Equity	100.0%
Total Liabilitiesand Equity	100.0%

Income Statement

Revenue, expense, and profitability

20 accounts · 1 year

Revenue $1.3B

Operating income $77.3M

Net income $102.7M

Account	2024	Trend
IncomeStatement
Revenues Total Revenue	40.9%
Expenses Cost of Revenue	21.6%
Expenses Research and Development	6.2%
Expenses Selling,General and Administrative	10.4%
Expenses Depreciation and Amortization	0.7%
Expenses Share Based Compensation	6.5%
Expenses Restructuring Charges	0.4%
Expenses Asset Impairment Charges	0.9%
Other Income Expense Gross Profit	19.4%
Other Income Expense Operating Income	2.4%
Other Income Expense Interest Income	2.4%
Other Income Expense Interest Expense	0.3%
Other Income Expense Gain/loss On Investments	0.1%
Other Income Expense Other Income/expense	-0.8%
Other Income Expense Income Before Tax	3.7%
Income Tax Income Tax Expense	0.5%
net Income net Income	3.2%
net Income Comprehensive Income	3.0%
Earnings Per Share Weighted Average Shares Basic	4.2%
Earnings Per Share Weighted Average Shares Diluted	4.3%

Cash Flow Statement

Operating, investing, and financing flows

24 accounts · 1 year

Operating cash flow $513.7M

Investing cash flow $128.3M

Financing cash flow $-460.3M

Account	2024	Trend
CashFlow
Operating Activities net Income	3.2%
Operating Activities Depreciation and Amortization	0.7%
Operating Activities Share Based Compensation	6.5%
Operating Activities Provision For Doubtful Accounts	0.2%
Operating Activities Deferred Income Taxes	-1.9%
Operating Activities Changes In Operating Assets and Liabilities	-0.8%
Operating Activities net Cash From Operating Activities	15.8%
Investing Activities Capital Expenditures	1.0%
Investing Activities Business Acquisitions	0.0%
Investing Activities Purchases of Investments	36.5%
Investing Activities Proceeds From Sale of Investments	41.4%
Investing Activities net Cash From Investing Activities	3.9%
Financing Activities Proceeds From Stock Issuance	0.4%
Financing Activities Repurchase of Common Stock	12.0%
Financing Activities Tax Withholding On Stock Based Compensation	2.4%
Financing Activities net Cash From Financing Activities	-14.2%
Cash Reconciliation Effect of Exchange Rate Changes	-0.2%
Cash Reconciliation net Change In Cash	5.4%
Cash Reconciliation Cash At Beginning of Period	11.4%
Cash Reconciliation Cash At End of Period	11.4%
Supplemental Disclosures Income Taxes Paid	1.0%
Supplemental Disclosures Interest Paid	0.0%
Supplemental Disclosures Capital Expenditures Incurred But Not Yet Paid	0.3%
Supplemental Disclosures Right of Use Assets Obtained	0.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2024
Profitability
Gross margin	+47.3%
Operating margin	+5.8%
Net margin	+7.7%
FCF margin	+36.1%
Growth
Revenue CAGR (3y)	-1.3%
Returns
ROE	+12.3%
ROA	+3.2%
ROIC	+3.7%
Liquidity
Current ratio	3.53x
Quick ratio	0.90x
Leverage
D/E	2.90x
Interest coverage	8.94x
Efficiency
Asset turnover	0.41x
Cash conversion cycle	+100d

Valuation

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FY2024 fundamentals · no price

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Enphase Energy

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