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

Year-over-year change per cell; first column has no prior.

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	—
Short Term Investments	—
Accounts Receivable	—
Inventory	—
Prepaid Expenses	—
Contract Assets	—
Total Current Assets	—
Property,Plant and Equipment	—
Operating Lease Assets	—
Goodwill	—
Intangible Assets	—
Capitalized Software	—
Other Noncurrent Assets	—
Total Assets	—
Liabilities
Accounts Payable	—
Accrued Liabilities	—
Contract Liabilities	—
Product Warranty	—
Operating Lease Liabilities	—
Current Portion of Long Term Debt	—
Income Taxes Payable	—
Restructuring Reserve	—
Total Current Liabilities	—
Long Term Debt	—
Operating Lease Liabilities Noncurrent	—
Deferred Tax Liabilities	—
Product Warranty Noncurrent	—
Other Noncurrent Liabilities	—
Total Liabilities	—
Equity
Common Stock	—
Additional Paid In Capital	—
Retained Earnings	—
Accumulated Other Comprehensive Income	—
Total Stockholders Equity	—
Total Liabilities and Stockholders Equity	—
Total Liabilitiesand Equity	—

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	—
Expenses Cost of Revenue	—
Expenses Research and Development	—
Expenses Selling,General and Administrative	—
Expenses Depreciation and Amortization	—
Expenses Share Based Compensation	—
Expenses Restructuring Charges	—
Expenses Asset Impairment Charges	—
Other Income Expense Gross Profit	—
Other Income Expense Operating Income	—
Other Income Expense Interest Income	—
Other Income Expense Interest Expense	—
Other Income Expense Gain/loss On Investments	—
Other Income Expense Other Income/expense	—
Other Income Expense Income Before Tax	—
Income Tax Income Tax Expense	—
net Income net Income	—
net Income Comprehensive Income	—
Earnings Per Share Weighted Average Shares Basic	—
Earnings Per Share Weighted Average Shares Diluted	—

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	—
Operating Activities Depreciation and Amortization	—
Operating Activities Share Based Compensation	—
Operating Activities Provision For Doubtful Accounts	—
Operating Activities Deferred Income Taxes	—
Operating Activities Changes In Operating Assets and Liabilities	—
Operating Activities net Cash From Operating Activities	—
Investing Activities Capital Expenditures	—
Investing Activities Business Acquisitions	—
Investing Activities Purchases of Investments	—
Investing Activities Proceeds From Sale of Investments	—
Investing Activities net Cash From Investing Activities	—
Financing Activities Proceeds From Stock Issuance	—
Financing Activities Repurchase of Common Stock	—
Financing Activities Tax Withholding On Stock Based Compensation	—
Financing Activities net Cash From Financing Activities	—
Cash Reconciliation Effect of Exchange Rate Changes	—
Cash Reconciliation net Change In Cash	—
Cash Reconciliation Cash At Beginning of Period	—
Cash Reconciliation Cash At End of Period	—
Supplemental Disclosures Income Taxes Paid	—
Supplemental Disclosures Interest Paid	—
Supplemental Disclosures Capital Expenditures Incurred But Not Yet Paid	—
Supplemental Disclosures Right of Use Assets Obtained	—

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

Price against fundamentals

FY2024 fundamentals · no price

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Enphase Energy

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

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Assets, liabilities, and equity

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Margins, returns, liquidity, leverage, efficiency

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